The Few Companies That Own the Rest: Watch Industry Breakdown | Everything You Need to Know
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Oris is my favorite brand currently and its miraculous that they are still privately owned. Surprised there wasnt any mention of them.
Thinking of buying an Oris watch this year. I think that what will destroy the watch industry in the long run is when watch companies get to be owned by investment firms that think only about money and don't consider history, heritage and innovation if it's not for an immediate profit.
Late reply, but it's interesting to note, that at one point Oris was owned by the group which would become known as the Swatch Group, and ended up producing watches with quartz movements, however they managed to be bought out by a couple of gentlemen who decided to take the company back to its mechanical roots.
I will be buying at least 1 Oris this year. Nice watches and I like the thought of supporting a private company.
In Russia, Vostok owns you..
now thats is a comment of the century!!
Hai faive
I am Russian and my Vostok wears me.
I came here to ask about Vostok. Are they good quality?
Great joke Comrade. Ok fun now over. Off to gulag with you.
Oris is independent. And also one of my favorite companies
still using ETA movement shared by more tha 20 brands (swatch Group)
Japanese watches are, for me, the best watches for the regular working class people like me. Quality is top notch but with in the budget.
Japanese watches are great. Practicality and engineering prowess is clearly there. Only thibg that you lose out on (in exception of Seiko) is the finishing and polish quality. But hey, I gan live w/that if it saves me thousands of dollars 😂
I agree. To me an exceptional watch at a low price point is more impressive than the most impressive and expensive watch.
haha you gues are funny, japanese watches are of course good, but just good and nothing more, own a rolex and then you will know that what your mentioning is bullshit
All just people perceptions and an individual preference, but to my own experiences Japanese (group) made are the best in reality( build quality and affordability) despite of the hype of Rolex, etc.
My skx007 and srpa21 are my daily work watches and I work with my hands.
Oris is a very notable watch company that is still privately owned.
And while many watch lovers look down their nose at Raymond Weil, it's family owned and still run by a grandson of Raymond Weil. Personally I think the snubbing of RW is unwarranted. While taste in style vary, the watches are very well made with high level fit and finish certainly on par with Omega, Breitling, etc... The Freelancer chronographs are hands down one of the best bang-for-the-buck watches on the market today.
Ball Watches are another great buy, if you're looking to really maximize how much you're getting for your money.
I've always admired Raymond Weil watches. I don't understand the hate they receive. To your point the Freelancer is an amazing piece; I will add the black dial, brown strap chrono to my collection one day.
Talking about great Swiss watches for the price, Tissot and Zodiac are wonderful pieces. My daily wearer is a Zodiac Astrographic and I always get compliments on it.
I bought a Longines Hydroconquest which is nice (and super accurate) but I wish I had known about Ball. Even their cheapest, the Fireman Enterprise, is my favourite 'I want one' watch. The second hand even bears my initials. You are so right about Ball, you must be right about Raymond Weil as well.
Isn't oris owned by the swatch group in the '70?
Yes, for a short time.
Unfortunately, the reality is that most of these iconic brands could not exist on their own. They wouldn't have sufficient working capital and cash flow. So from that perspective, it's nice how these large groups are able to preserve such iconic brands and provide consumers with such a diversified product set.
Jim K They would survive if people were more educated about the brands heritage and history. Personally I like Tudor, Vostok and Citizen.
Relying on people being more educated is not a tenable or sustainable business model.
Just because people know about the brand doesn't mean they'll buy more. I'm a fan of mechanical watches from an engineering point of view, but the reality is the technology peaked in the 1700-1800s because it was needed to solve the longitude problem and everything since in mechanical watches (Except the Seiko Spring Drive, which is partially electronic) has just been making shiny expensive jewellery that's mediocre at best at timekeeping. Unless you can teach people about the brand without allowing them to learn why the technology is so obsolete you're unlikely to grow sales that way. That's why the advertising is in the line of 'rich people wear this product - make people think you're rich by giving us all your money'.
This means that while I appreciate the effort that goes into making these, which is why I won't say they're overpriced as jewellery, but I'd feel like an idiot paying thousands of dollars for a device that's shit at doing the one thing watches are supposed to be designed to do, namely keep accurate time without constant recalibration/servicing.
The main usefulness of high end watches at this point is that it's a lot easier to smuggle a $50 000 watch between countries on your wrist than it is to try moving that much cash without being caught. The very high end watches (The ones well into the 6 and 7 figure territory) are bought as investments rather than to wear, because they're easy to store in a safe, need negligible upkeep while stopped, and can usually be sold at considerable profit if they're rare enough to begin with and are exempt from capital gains taxes in many countries (Similar to exotic sports cars), so this is nothing to do with people who like watches, it's just another investment option.
Depends on the grade of stainless steel and the type of chocolate :-D... The raw material cost isn't where the value is built into the watch though, it's the many processing steps, specialised machinery and skilled workers needed to make it into something, so the price is at least justified by the labour and expertise required to make the product in the case of watches, even if they don't do the job of keeping time very competently.
In contrast, sunglasses (Another heavily marketing driven product) are a different story. There is less than €5 of plastic in most of them and they are injection moulded, by mostly unskilled workers running machines that run automatically, so the material cost is the vast majority of the manufacturing cost of these products. Moulds can be very expensive to get good optical surfaces, but the number of parts a mould will make before it degrades is very high, especially for non-glass fibre reinforced plastics as used in most sunglasses. Unlike the watch industry, one company does own almost all the brands of sunglasses on the market, as well as several of the chains that sell them - look up Luxxotica.
Ikr?
Don't forget Oris and Fortis, both still independent!
Teddy, your channel is slowly becoming my favourite among the all of the ones on youtube. Great content, very-very mildly snob and speaks to all generations. Keep it up.
Really appreciate the effort and research you put into your videos Teddy.
I think the conglomerates are an economic necessity in these times. I also think it’s ok as long as the various companies can retain some independence and not get too homogenized. Midi, Tissot and Hamilton all have their own designs and personality, but benefit from the ETA research and manufacturing expertise.
Wasn't aware of the different companies owning these brands, a great educational video on the industry!
Hey Doc! Glad you enjoyed this one brother!
Always, always
I was aware of some of this plus movements etc but I didn't realise the rabbit hole went this deep! :P
@@TeddyBaldassarre Consider doing a video on _privately-owned_ quality European watch brands. And another on non-European quality watch brands that were founded _prior_ to the Quartz Crisis.
This isn't new man. It happened after the quartz crisis. A handful of extremely rich men own the watch world, and also other incredibly priceless things.
Good for the industry? It’s kind of a necessary evil. As enthusiasts we’d prefer all of the companies to be independent and return to their former glory... but the reality is that these brands were bankrupt. The conglomerates bailed them out and snatched them from the jaws of death.
Let’s look at Omega, for example. Swatch Group’s cash cow. I could use a more vulgar analogy but we’ll keep it clean. Plenty of cons in the way Swatch runs it...but the pro: Omega still exists. It’s that simple. They wouldn’t exist otherwise. They would’ve gone bankrupt by the year 2000. As much as the brand has been bastardized- the Omega factory in Geneva still exists, it’s not exactly like Swatch is stamping Omega on machine made watches from Hong Kong.
cash cow is not a badterm, actually, it is a marketing term.Well I agreed to your proposition that thanks to the conglomerate buying the brands, they are still exist today. Not only that, they also try to be 'true' to the brand and look inspiration from their history.
Christopher Hermawan yeah, I didn’t mean that cash cow was a bad term...I didn’t want to say that they’re pimping the brands. But now I’ve done it 🤦🏻♂️ lol. But yeah, I think they generally do a decent job, all things considered. Also, each brand still has its own factory and a lot of independence from the parent company- at least in terms of watchmaking, but not so much in terms of production numbers, marketing etc.
For that reason, along with quality, I love Raymond Weil. I have a beautiful Tango that is 20 years old and works flawlessly. Still family owned and beautiful, quality watches.
@@treedillinger5801 cash bull..
Well, Omega has turned into a cash cow. A company that makes watches (actually the movements) that are that good needn’t be releasing a dozen so called “limited edition watches” every year. It clearly hurts the reputation and marketability of an otherwise fine watch. Swatch really doesn’t care. You can bust on Rolex’s “production/availability” issues all you want, but it remains the most profitable watch company in the world. They produce far fewer watches than Omega, but make far more money. There is a reason for that...
Great video Teddy. I don't think this hurts the industry - it actually seems to have saved many watch companies during the quartz crisis. I think with the advent of kickstarter and similar platforms there are micro-brands popping up and introducing new ideas and energy into the market (not to mention storied brands that continue to innovate).
What amazes me is how each brand has their own nitch in the market place. Each brand has their own following and are known for something specific. I think it would be very unrealistic to think many of these brands who sell lower priced watches, not necessarily lower value watches, but more affordable watches could survive and have the impact they do without the protective covering of their parent companies. Watches are like any consumer product on the market today. If you start drinking wine you will start with something that is affordable and to your liking i.e. a Robert Mondavi White Zinfandel. Most people will "mature" into more complex wines. Same with watches. Start them with a Timex they like and allow them to mature into nicer watches. The industry needs the "introduction watches". They have their place. That is one reason I never put down the fashion watchers. They are introducing an entire generation to watches. A generation who uses their cell phones for time keeping. Some people are content with driving a Mitsubishi Mirage while others want and are willing to spend the money on a Corvette. It's all good. As long as people are buying watches it's good for all of us.
Fantastic video! Great to see all of the different brands and who owns what. It also really helps a person appreciate brands like Nomos, Fortis, and Oris being independently owned. Thanks again for the video.
Love your videos. Always learn a lot from them.
Thank you for watching! Btw - cute pup
Except about CASIO.
Hi Teddy. Once again your content is an education. I was pleased that Rotary got a mention, a great British favourite, which was producing watches for the RAF in WWII, a brand which you will know was started in Switzerland by Mois Dreyfus. The Hong Kong owners still use British Design and some models are still made in Switzerland. My mother thought that they were "posh" so that's probably why I have four of them. She also taught me the difference between inexpensive and cheap. They are inexpensive but if you wanna push the boat out a little, they are affordable. There, I've just told you where I fit into the hierarchy of collectors. Great video as always. 👍
Hey....where is Casio?
Comy F Casio is an independently owned and operated company under the Casio Computer Corporation.
Comy F I was thinking the same lol
dw 72 Then maybe you should read my comment too and you will wonder no longer.
Draven Alexander how about you read mine...? The original question was where is Casio, as in why didn't he mention it, not who owns it.
dw 72 That's actually why he didn't mention it. The whole video is about watch companies owned by bigger corporations. Since Casio is independently owned and don't own any smaller watch companies, they aren't on the list.
This was really interesting! Thank you for posting it.
It would be interesting to see what models in the big watch houses float their luxury models. Awesome vid as usual and please keep feeding us the large variety content. You are covering things other channels aren’t coving. Thanks.
Nice overview Teddy. Being familiar with Richemont and LVMH groups, and a bit of Swatch, the groups mostly allow the brands to maintain their own culture, their own design, their own marketing approach, etc. It's not quite all the big conglomerate take over as I saw in another comment. Many of these companies have only been able to survive some of the financial downturns due to the financial backing of a holding company. During 07-08, one group did quite well due to cash on the balance sheet while most others were having some very difficult times. In these larger groups, each brand works almost like a department and has it's own budget and then manages things related to the brand as I already mentioned. And in today's age that we live in, these groups are able to start to reap some cost savings that single brands can't as they have shared resources for things such as human resources, finance, IT staff, Ecommerce platforms, basic IT infrastructure, repair centers, call centers and the list goes on and on. The group is there to ensure the foundation is there for the brand to succeed at what they do, which is simply marketing and sales, and also service but that is not the primary focus.
With all the savings the groups and brands have seen, did we see price cuts? hahahaha
But what the groups are able to do because of multiple brands working in multiple countries and regions, if one brand is hurting and not making the sales numbers, hopefully enough of the other brands are over the numbers to compensate for this. Same from a country and regional perspective. Hence why much of the public reporting is not by brand or region so as not to highlight any particular brand/region as an issue when the overall company numbers are meeting expectations.
Excellent presentation. Fortunately for us as consumers, there is a healthy level of competition in the watch industry -- there is no dominant monopoly that can single-handedly determine prices. As a result, whether you buy a Timex or Casio -- or pay 100x more for an IWC or Rolex -- you're still getting a quality watch from a heritage brand. I can't think of another industry that offers such a wide range of great choices for the consumer.
I'm wondering why it's so hard to find Seiko watches in a store. I see mostly Citizen watches where I live. Lots and lots of Citizen watches. And none of them automatics.
I think as long as the big companies like seiko and swatch continue to make their movements available at relatively affordable prices in bulk sales then there will always be microbrands that will provide quality and affordable pieces. That will force at least some of the lesser known brands within these groups to keep their prices in check.
Thanks teddy that was amazing another classic video did not know a lot of that information really good stuff keep it coming!
Very interesting. Good job!!
Thank you Cesar!
Love the video. Like others here, I've wondered about the "inner workings" no pun intended, of the watch world. Great job!
So many watch puns lol. Thanks man!
thanks for the education update,great to see how the industry has evolved and the changes that have been made,,
Another awesome vid. Best I have seen on this subject! Nice job!
Great video, Teddy! It's actually good to have these big companies, without them we would not have any mechanical watch companies alive after the quartz crisis, also now the smartwatch crisis has arrived thanks to a non-watch company Apple
Thank you man! I think you do bring up a good point. Collecting resources under 1 larger umbrella can certainly be helpful!
I think your comment is spot on and an excellent analysis of the history and current market of watch brands.
Orient is part of Seiko Epsom - Epsom is even engraved on the caseback of my Ray 2.
Epson *, but yes, you're correct.
Thank you, Teddy. I learned a few things watching this video!
This is very educational and you are so knowledgeable and this short video is well delivered! Kudos to You, Sir!
Damn, man. Haha!
It’s like you read my mind. I’ve been wondering about this exact thing!
Thanks for another great video 👍
Happy to help man!! This was an interesting but time intensive one to put together
Well, it’s greatly appreciated. I look forward to every one of your videos because I learn so much. It’s become a part of my weekly rituals!
Btw, the production of your show is outstanding. Always clear, crisp, warm lighting and perfect sound and music.
You do this by yourself or with a team? Either way, great GREAT work.
It's same with Luxury Sun Shade brands every Sun Shade or Specs you know is owned by Luxxotica be it Ray Ban, Gucci, Prada everything literally everything.
DITA
Eye frames
I'm pretty sure this is independent company...
American Optical is still independent.
Don't forget oakley
when such concentrations are formed, the smart top management of the companies is key to the success of a brand. As a customer I prefer the way of Richemont over Swatch, as Richemont focus more on the heritages of the brands. As an economist you have to honor Swatch for achieving cost savings through synergy captures. thank you teddy for this great summary!
Love to learn form your efforts. Thank you and please don’t stop!
I love my Hamilton swiss automatic but I think I will stick to my 2 Seiko watches. One day I will get a Grand Seiko . What a beautiful watch . The Japanese are the best.
David Coleman what makes them better than Swiss? I’m just now learning.
I only knew about the Swatch group and Seiko :O
I gotta step up my game man
Well I hope this video will get you on your way!
Teddy Baldassarre
Can you give us an idea on in house Movements company like patek, AP on their revenue 2017
Ayo, i love this chanel, the videos are great and literally every video has a very interessting topic and perfect lengh
Thanks for the breakdown. Really useful if new to high end watches. However I think you have left out some prominent brands as have been mentioned in previous comments.
i didn't know citizen was its own company!
i always thought seiko epson owned citizen! learned something new today!
citizen and seiko are 2 monsters for a long time.
i would be shocked to hear one got the other
i would put my money on seiko all day, tho
they also make Miyota movements which are used in many brands.
Casio?I own a Seiko for my dress watch, but I use a pair of G shocks (all solar) at work.-Oklahoma School Teacher
Nice summary Teddy thanks. In addition to those pointed out below I think you also left off Hamilton. When I’m looking at brands I like to note where they’re doing the manufacturing and assembly so that might be something to add if and when you update this one.
Very informative video, thank you! Take care, Irène.
Same with the designer sunglass industry.
Yeah, that's even less diverse, pretty much all eyewear lines are owned by Luxotica
its quite different. With watches, it is still made in house by the subsidiary companies, and it just happens that they are owned by a corporation. Sunglasses on the other hand is made by only one corporation luxotica, and then simply labelled as the subsidiary brands. Watches you still getting the artistry or heritage. Sunglasses is simply false choice. I was so surprised to find out the fashion designers dont even contribute to the sun glass design. Its all done by luxotica designers.
The reason I went from ray ban to moscot
Great video and very good summary of the watch industry but you forgot Casio! 😀 I think this consolidation of companies happens in every industry item. It's both positive and negative in my humble opinion
3:31 that’s my first watch with a blue face and a Leather strap. Absolutely love it. Still young and working my way up can’t wait to add more to my collection
Nice content again, man!!
Appreciate it my friend! Glad you enjoyed it!
I think it speaks volumes that an effective marketing department (Rolex) can maintain sales dominance. I do think that these holding companies provide upsides but individual watch brands inside get diluted. Longines used to be a top brand, producing their own calibers and competing with Rolex for Chronometer certifications. Now apart of the Swatch group, they operate with standard, effective ETA movements. So now many brands focus on design and heritage as opposed to their movements. And design is only half the equation for a watch. As someone who adores manual wound movements, this is sad state of affairs.
Omega do their own movements , even if they are part or swatch, in fact they are the only company in the industry that has adopted the revolutionary coaxial escapment.
Piaget also does all in house movements, check them out.
JLC too goes full inhouse
Since both Longines and ETA are owned by the Swatch Group, isn't it technically in-house lol? I kid, I kid. It's a marketing decision by Swatch Group to saturate all market segments. They needed a recognizable brand to fit the entry-level luxury segment. And Longines was the one chosen to "step-down". Now they have a brand for every segment. Mass Market/Basic Range (Swatch/Flik Flak). Entry-Level/Middle Range (Tissot, Hamilton, Mido, Certina, Balmain, Calvin Klein). Entry-level Luxury/High Range (Longines, Rado, Union Glashuette). Luxury/Prestige Range (Blancpain, Breguet, Harry Winston, Glashuette Original, Leon Hatot, Jaquet Droz, Omega).
Rolex does have a phenomenal marketing department.
But that is what I find justifying the ever increasing prices of high end brands...that just re-case ETA movements.
I don't think marketing alone explains Rolex's enduring presence in the luxury timepiece market. A market which can be described as mature or even in the declining phase of product life.
Other companies like Breitling, Longines, and Omega also place high glossy ads in magazines, or sponsor high profile sporting events, but cannot come close to the presence of Rolex.
Rolex has the advantage of being iconic and having high brand (top of mind) awareness even among people who know nothing about luxury wrist watches.
Most horologists know that there are many other watch brands that have a higher level of workmanship than a comparable Rolex but none of them can touch Rolex's iconic status because it has a mystique and established image that no amount of glossy print ads, or promotions can buy.
Content is always top notch. Love it
Thanks brother! I really enjoyed putting this one together
Very informative vid! Well put together, and I learned a lot! I think im a swatch guy after all..
Thank you my friend!
Great video and important information. Five corporations own the majority of the watch industry. Unifying many watch companies under one corporation will allow all those watch companies to survive in time of economic recession or technological innovation like what quartz watches did to the Swiss industry in the 1970s.
this is interesting, what about Sea-gull? I heard they are one of the biggest movement makers in China. Maybe they aren't big enough for this list?
Huuuuu..... Hurt mutch? 😜
Now for serious, yes you are correct. BUT like many chinese things there's just not information about it..... Wonder why...
Morellato group: sector, maserati, ferrari, etc
...
Awesome video! I learned a lot. I was wondering why Breitling wasn't listed under Swatch until the end of the video explained. Well done sir.
This was enlightening! What a hairball to sort out, but you made it easy to follow!
Dude, you forgot Sinn, Damasko, Fortis, and Oris.
All great brands. Saw previous comments regarding Fortis and Oris being independent. Will have to check if Sinn and Damasko are as well.
The name on the dial doesn't matter... It is more about how the watch looks, performs, lasts, comfort level and punch per buck... After all that, the name on the dial matters to most people.
@Sk8LovesSweet Of course...
@Sk8LovesSweet So am I.
@@syndicatedsatellite7288 That is a lie. Of course the name on the dial matter. On every level of purchase, in every market, not just watches. Because the 'name' indicates a certain level of quality (performance, lasts) and heritage associated with it. And you even said how the watch "looks". The brand (or "name") is a part of that.
@@elzafir When a company starts to make a substandard product to what they previously made, the name doesn't matter much... Look what happened to Cadillac for example. The name brand doesn't hold as much clout.
@Sk8LovesSweet I agree but it does matter to the re-sale value
thanks for the video, interesting for me, just bought a Baume et Mercier clifton. Think the company umbrella helps them to keep prices as they want.... On the other hand definitely helps with keeping the automatic watch at a quality
Also worth noting; Citizen Group now owns La Joux-Perret SA. It uses these Swiss movements in their Campanola line.
Perhaps a necessary evil. Quartz devastated the industry in the 80s and bankrupted many of the companies. Today we have the emergence of smart watches disrupting the industry again just 30yrs later. Or worse still many in the younger generation, millenials as they're called don't wear watches at all, they use their phones. I work in finance and during boring meetings I used to enjoy spotting the good watches worn by bankers and such types. Lately I've noticed the quality of watches worn have really fallen down the scales. Thats the impact of 10yrs+ recession in banking I guess.
I'm 18, and have recently gotten into mechanical watch collecting and appreciaton. I find it's still more convenient to simply look at your wristwatch, not to mention more elegant, than looking for your phone. Maybe I'm just old fashioned. :)
Well the automotive industry is similar really...e.g. Fiat who own Chrysler, Dodge, Ferrari, Maserati, Alfa Romeo.
Is it a bad thing? I think not. The companies are able to leverage talented minds across a couple of continents and the consolidation means a more reliable product overall through the standardisation.
I think there are parallels with the watch world there. I can't count the number of times I've heard "Well don't worry about servicing, it's an ETA 2824 so any competent watch maker should be able to do it."
While in-house movements may make you feel warm and fuzzy, it's like with a car engine; you've got to think of the cost of upkeep. So provided they have individual styles and teams working on new ideas, I'm ok with the main components being something easy to maintain and standardised.
SirLoinOfsteak85 Ferrari split from fiat on January 2016. The newly independent company held an initial public offering (IPO) shortly after.
Ryan Powell I know. FCA still owns 90% and it was done for tax purposes, so it's still safe to say they own them.
Compared to, say, the sunglasses industry, watches and cars have plenty of diversity anyway.
Victorinox makes great watches which includes making their own movements. I bought my first one (quartz) in 1997 and it's still going strong. I also bought a Michel Herbelin in 1989 (also quartz) and it still works great. Both these companies 'own themselves'.
I’m in the business and I think that the interwebs has made the industry a relatively level playing field. There is more than enough information in magazine articles, blogs, vlogs and forums out there for anyone to try to make an informed decision. Intend not to get into forums, as they tend to be somewhat self serving. But them again, what isn’t these days? My point is that if someone prefers something a bit more rare they can certainly find it online. ( I mean those smaller businesses that have little to no brick and mortar presence). But I think there’s definitely nothing wrong with buying from these companies associated with a global conglomerate like LVMH. Incidentally, I would have guessed that Swatch Group would have topped that list. However, if you’re just going off of overall sales and not units sold, it breaks down like that. Cheers!
Sorry for the typos y’all. ☝🏼
Rolex is the No. 1 selling watch brand in the world? I'd think Seiko sells more watches.
Casio sells more surely
@@cosmalas7742 oh yeah I guess Casio probably sells more watches than Seiko.
As far as movements I'm sure Seiko sells the most.
@@pentachronic I heard somewhere that Seagull (China) sells about 25% of the world's mechanical movements. Not sure that's true. It's kinda hard to verify these numbers in the watchmaking world. But yeah, between Seagull and Seiko I'd go Seiko.
@@ronch550 Among Swiss makers, Rolex actually is the No.1 selling brand.
To be honest, it stands to reason that this would be the case. As things are today, how many factories do people really believe there are that supply the materials that these watches use? The point of any business is create as a big a return as possible for its shareholders, and consumers would do well to remember that. The notion "History and heritage" is marketing, plain and simple, and incredibly effective in the watch industry. Because watches (like many material things) have become a symbol of a persons status, consumers of these products become self-policing brand ambassadors, and in turn it allows these brands to steadily hike the prices. The people at the top of those groups could care less about heritage (other than ensuring it matters to consumers). Their goal is to have buyers part with their money.
All that said, I genuinely do love watches, but that's just the truth of it. People save for years to line shareholders pockets, and in exchange they receive a stainless steel watch and a big ol' dollop of heritage
I agree. I feel after this video, I don't have that sense of pride of ownership in my collection. I feel like a moron for owning a Patek, or Cartier. The value is what these companies make it. Gone are the days when you longed to get that Longines, or that Rolex. Now it's just high price crap. Like owning a Mercedes that's really a Honda Civic under the skin. Quality is not there anymore in anything. Now that a cheaper known company owns the rights to say, Cartier for example, what's to stop them from putting a cheap quartz movement in their case and charging a crazy price because it says Cartier on it? Where's the value? So now only vintage watches are worth something?
Hi Teddy, old video, I know. Very relevant for a newcomer to the watch scene. I would prefer to support small independent companies than mega corporations (or so I think). This sheds some awesome light on the business side of things. Thanks man!
Very informative, thanks for sharing man :)
So Bowel Movement got acquired, I see 😉
Lol 😂
Maybe they will eventually flush the idea...
Syndicated Satellite *rimshot*
Can't tell MVMT from Shinola.
Shud still be privately owned, isn't it, lol? Or like everything else, outsourced? *grin
This isn't a watch company thing. This is a company thing. A few companies own all the other companies which basically own the world
Yeah, like assa abloy in locks. There's ONE lock company.....
The eye glass industry is even worse. One company owns the entire market, Luxottica, which is why glasses cost insanely so much in the West. In the developing world, the glasses are usually replicas and knocked-off designs at a fraction of the price.
very well done and informative....kudos
Excellent vid Teddy. Enjoyable and informative.
6:01 Tommy HilfiNger ......????? 😂😂😂. 😇😇😇
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@@ibo_ I'm a simple guy,I see someone overdoing something and I like
overused emoji fucker 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
HHHHHAAAAAAA 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Tom me he’ll finger
I’m enough of a watch geek that I made a flow chart showing ownership groups LOL
The constriction of the industry is one of the reasons that I’m still such a Rolex fan - they run their own show and are still (comparably) Affordable.
Hahaha making flowcharts industry definitely certifies you as a watch geek my friend 😂
Well, not much people know this but Rolex watches are reasonably priced for what they are. Have history, are well built and you won’t lose your money when buying popular models new or pre-owned. There is even a possibility that their market value will rise.
Definently not affordable at all. Look at Oris for an affordable independant watches
V P Have you Heard of a watchmaker Roger W. Smith?
V P Well, that was incredibly insightful and helpful. How about a video of your collection that are all superior to Rolex? 🙄
Nice video. You wanted to know what we think... well, I think it is necessary and likely will eventually become an issue for selection. It compares a lot with the auto industry. We would not have Porsche if it wasn't for the VW Group (as well as Lamborghini, Audi, Bugatti, Bentley, etc.) and Fiat has Ferrari, Maserati, Alfa Romeo & Chrysler just to start. In the auto arena you have consolidation for some different reasons (CAFE standards would put some companies out of business; i.e., Ferrari needs Fiat sales to survive, as does Bentley needs VW sales to spread the mileage rules). But also if one brand's sales dip a large corporation can survive the costs better than individual brands on their own. So ultimately we need this. I feel that the luxury watch market needs "brands" like Swatch to allow the smaller brands within that umbrella to exist. It's inevitable in today's economy. However, at some point it will eventually reduce choices. What happens when Swatch becomes the Disney (owns Star Wars & Marvel & Fox & almost everything) of the watch industry? I leave that for you to answer in a future video. Thanks Teddy!
Wrong.
Awesome subject Teddy :) good to learn this
It was an education for me putting it together. Very interesting!
Does not matter who owns what. What matters more and what was NOT stated in this video is that ALL and EVERY moving and non-moving part from your Swiss match was MADE in China. Be it a 500-hundred dollar job or a five- thousand - made in China, assembled in Switzerland. One of the greatest mysteries of mankind is why people don't like to speak about, state, publicize or hear the truth.
mediastarguest That is 100% bs. There are still quite a few parts made in Switzerland or Germany. Ofc that‘s only the case for higher end watches.
@@mrjakobt If, as you say, there are still quite a few parts made in Germany and Switzerland, then it's not 100% bs - it's 50%.
Unfortunately, the standard for being "Swiss made" is astonishingly lower than "US made." I seriously doubt that the percentage you rattled off was actually that low.
If a watch was assembled in Switzerland by a China worker, is it still considered Swiss made ?
Vostok - in house, accurate and bullet proof and still retains the soul of an original Omega Speedmaster with the same Heselite lens....
To add to what a lot of people are saying about it being a necessary evil: you’ve listed about 6-7 fairly large groups all in competition for market share. American holdings to Japanese to Chinese. That’s a pretty decent market that will continually compete and innovate. Compare that with nestle and the snack foods industry or something and you’ll see that relatively speaking it’s not bad
Kind of revealing, holdings/companies that have, to me personally, likeable and the other, unlikeable or desirable brands under one roof. Very good, thanks for sharing!
Heineken owns many of the beers people drink.
The watch market is saturated. I'm anticipating some sort of crash within the next few years.
Thanks for this information.
An idea for the next video.. Top 10 brands in terms sales in USD.
Thanks. Really helpful for a noob to the watch industry but striving to gather a small collection
5:36 the letters falling appart on the Kors dial
Missing some attention to detail and just plain ugly too.
Timex is not independent. They are owned by Fred Olsen Group a shipping company from Norway.
No way! I like little titbits of info like this. Timex Classic 100, best watch out there imo. :)
Rene Bjørnskov not independent but are still privately owned unlike the other groups on the list.
Great info, Thank you...
Love these informative videos :)
I think you missed Casio.
CASIO. CASIO. CASIO.
How can you forget Casio come on
Its also one of the largest brand
2:12, hearing you pronounce some of those watch names is very soothing to the ear! 😆
Lol
Thank you for the information
*Fondation Hans Wilsdorf owns Rolex and Tudor*
In my opinion, it shows you how overpriced some brands are. Take the Omega Seamaster for example, is it really worth $2000 more than the Certina DS Action Diver? Nope, you're just paying extra for the name. Sure there is some extra finishing, but definitely not $2000 worth.
it kind of is, saying this while I own the 2018 ds action diver. Just do your research. The movement alone is a masterpiece in the new seamaster
This applies to everything, though. Does the Core i7-9900K really have +60% the performance over the Ryzen 7 2700X that the price difference indicates? Or does the $999 iPhone XS really have +500% more performance than a $200 Xiaomi? I'd say, no. But people still buy them. If you're from the US, there's a 45% chance you are using an iPhone instead of that Xiaomi or other budget brands.
"Our $10,000 watch is elaborately constructed with a basic bitch ETA movement."
The thing with the watch industry is (as often happens in oligopolies) that it has become increasingly easy for watchmakers to inflate prices. This, coupled with the attempts watchmakers have made to eliminate the backwards market has caused watch prices (especially in the luxury and super-luxury sectors) to skyrocket towards prices that are utterly unattainable for the majority of the people who would have previously been able to afford one. However, for the good of horology as a whole, it is safe to say that an oligopoly is necessary, otherwise brands like Orient, Zodiac, or Frederique Constant would cease to exist, to be soon followed by more recognised watchmakers.
The lower end market is still very competitive and generally priced according to its quality...albeit there are exceptions. But the $2000+ market is simply getting out of control. The production process is almost entirely automated with minimal "hands on" time nowadays.
Informative video Teddy, thank you.
6:01 “tommy hilfinger”
it's Tommy Hillbilly, get it right! ;-)
It's called capitalism; it is great for those who own stock in an expanding company!
Personally, I like the independent guys: Atlantic, Junghans, Oris, Vulcain, West End Watch, Zeno Watch Basel ( 28 employees ), to name a few.
I've got an Atlantic Worldmaster Super Deluxe from the 60, absolutely gorgeous piece. Too bad they can't really be competitive nowdays.
Sorry but Vulcan was sold in 2017 to an investment group from Luxembourg. One more indy bit the dust 😞.
It's called CORPORATISM and ETATISM. Please read some Books. Communism was created by Germans only to destroy Russia during the First World War. They send Agent Lenin (who lived in Munich at that time) to Russia with money and some other Jewish Agents xD Capitalism is the flow of Money WITHOUT big restrictions like Taxes, and Barter is ofc Allowed - NOT IN EUROPE, SO WE DON'T HAVE CAPITALISM. Free Market is not the Same as Capitalism, it means only freedom to exchange.
Capitalism doesn't work. USA has 13 trillion debt. Don't reply please.
Titoni, family owned from the start. I own a vintage Space Star 009
Along the same subject as this video, I'd like to see a video that compares two different branded watches that have the same exact movement, with a drastic difference in price... Thanks.