Day: 30 March 2026

Consumer confidence in the UK has plummeted to an unprecedented low as the ongoing conflict in the Middle East raises fears of escalating inflation. Recent data shows the consumer confidence indicator fell to -53 in March, with diminishing assessments of financial situations. Despite a slight uptick in personal retail spending, the overall economic outlook remains bleak. Experts warn that rising global energy prices could further strain households and businesses, urging the government to minimize costs and prioritize measures to alleviate economic pressures.

Indies.NYC is set to make its much-anticipated return to New York City in 2026, with two exclusive events scheduled for May 4 and October 15. Limited to just 350 guests, the intimate gatherings will spotlight ten independent watchmakers, offering attendees a rare chance to engage directly with the artisans behind innovative timepieces. For the first time, a panel discussion will be added to the programme, enriching the experience for horology enthusiasts. Founder Jon Cruys promises an atmosphere of camaraderie and creativity, inviting collectors to immerse themselves in the world of bespoke watchmaking.

The global luxury watch industry stands on the brink of a structural transformation as it approaches 2026, grappling with declining Swiss exports and a sharp 35% reduction in demand from China. Major brands face profitability challenges despite stable revenues, a stark contrast to the flourishing secondary market which now favors independent watchmakers recognized for their artistic integrity. Meanwhile, India has emerged as a notable bright spot, showcasing a 35.2% growth in Swiss watch exports and hinting at a dynamic shift in the landscape of luxury consumption. As tariffs and geopolitical tensions reshape trade dynamics, the industry is at a critical juncture, poised for reinvention.

AstaGuru, the Mumbai-based auction house, is making significant strides in its international growth by opening a new base in London, marking its first foray into the UK market. The inaugural auction, set to close on 27 May, will showcase a curated selection of fine watches from renowned Swiss manufacturers. With Laryssa Jesse appointed as UK Managing Director, AstaGuru aims to connect with a younger, digital-savvy audience through private viewings and engaging educational events, enhancing the collector experience in a city renowned for its luxury market.