The watchmaking industry in Switzerland has been in extremely good shape for the last few decades. They’ve learned a lesson from what happened in the 70’s, when Japanese companies started making much cheaper watches – which became a great threat to the Swiss watchmaking industry. The Swiss had thought that no one could achieve their level of quality, that their ‘crown’ was secure. We learned quite quickly that that’s not the case! But, like Heinrich, we’ve adapted to the changes and reached for new heights.
Swiss watchmakers have also realised that they need to evolve with technology. Online sales are a vital new channel – not just relying on the client or retailer coming to the manufacturer, to buy watches directly from the atelier. And this development has been adopted by many of the brands. It’s made a big difference, allowed them to reach a wider audience. In general, I suppose I’d say the industry still depends a little too much on the Chinese market – and like Heinrich, I believe it’s important not to put all your eggs in one basket! But generally speaking, the Swiss watch industry is in excellent shape – poised for the future, whatever it might bring.