Story Highlight
– Microbrand watches face challenges in global expansion.
– Established brands pivoting to omnichannel operations.
– Studio Underd0g to open multifaceted retail space.
– Wholesale market access remains risky for new brands.
– Bamford London adopts hybrid approach for growth.
Full Story
Emerging microbrand watch companies, many of which emerged during the COVID-19 pandemic due to the rise of social media and direct-to-consumer sales, are now encountering significant hurdles as they attempt to grow from small-scale ventures into global businesses without the guidance of established retailers.
Even established brands like Christopher Ward and Bamford London are transitioning from solely online operations to a hybrid model that incorporates physical storefronts alongside their digital presence.
Time+Tide is actively fostering a community around these fledgling brands while also serving as a retailer. Recently, several independent brands including Fears, Nomadic, Elliot Brown, and Baltic have opened their own retail locations.
Studio Underd0g, a prominent name in the direct-to-consumer segment, plans to unveil its Dog House later this year. This venue will serve as a watchmaking studio, an event and exhibition space, and a retail outlet all in one.
Building a wholesale operation continues to be a daunting task. Retailers, particularly jewellers and specialist watch shops, tend to be conservative, generally preferring to collaborate with established brands before considering new entrants.
As customers increasingly wish to physically try on watches before making substantial purchases, penetrating the multibrand retail sector is becoming essential for expansion.
For brands that originated in the early 2020s, achieving long-term sustainability may involve three distinct phases:
1. Initially, launching with direct-to-consumer sales to enjoy higher margins on lower-priced items while directly engaging a smaller customer base.
2. Gradually opening physical locations in a cost-effective manner to enhance overall brand visibility while participating in consumer events such as British Watchmakers Day and Wind-Up Watch Fairs.
3. Finally, transitioning to wholesale to broaden market reach and enhance reputation by being featured in reputable multibrand retail outlets.
Bamford London, founded in 2009, began exclusively as an online direct-to-consumer business leveraging the extensive connections of its founder, George Bamford. As the public face of the brand and son of Lord Bamford, owner of the JCB construction company, he has cultivated strong ties with Swiss watch producers and affluent collectors.
Despite these advantages, the digital-only model has limitations, prompting Bamford London to adopt a hybrid strategy that includes greater participation in events and selective partnerships with physical retailers. Collaborations with brands like Thomas Pink and Hacket London are part of this new approach.
Currently, Bamford London is pursuing a more calculated wholesale strategy, having signed a global distribution agreement with ChronoTime, the wholesale arm of Ace Jewelers based in Amsterdam. This partnership leverages the long-standing friendship between George Bamford and Ace Jewelers owner Alon Ben Joseph.
Ace Jewelers, known for its work with independent watchmakers, serves as an authorised dealer for Bamford London in the Netherlands. ChronoTime, a new initiative aimed at empowering indie brands through international wholesale partnerships, already represents several notable names such as Eberhard & Co. Watches, Fears Watch Company, and Squale Watches.
ChronoTime plans to utilize its extensive connections formed through its historical diamond distribution operations to assist growing brands. Describing Bamford London, ChronoTime states, “By merging iconic British design with world-class Swiss quality, Bamford London creates watches for the modern pioneer.” They assert that each watch symbolizes a unique fusion of London’s innovative spirit and Swiss craftsmanship.
