Watchmaking Labels and Certifications<\/h3><\/div>[\/vc_column][vc_column width=”1\/4″]![\"Watch](\"https:\/\/www.ohselection.com\/wp-content\/uploads\/2017\/12\/Manufacture-horlogerie-Vall\u00e9e-de-Joux-1024x683.jpg\")
<\/a>Watch Manufactures<\/h3><\/div>![\"Watchmaking](\"https:\/\/www.ohselection.com\/wp-content\/uploads\/2019\/01\/Groupes-horlogers.png\")
<\/a>Watchmaking Groups<\/h3><\/div><\/a>Watch Brands<\/h3><\/div>[\/vc_column][vc_column width=”1\/4″]![\"Swiss](\"https:\/\/www.ohselection.com\/wp-content\/uploads\/2019\/01\/Horlogerie-Suisse.png\")
<\/a>Swiss Watchmaking<\/h3><\/div>![\"Japanese](\"https:\/\/www.ohselection.com\/wp-content\/uploads\/2019\/01\/Horlogerie-Japon.png\")
<\/a>Japanese Watchmaking<\/h3><\/div>![\"German](\"https:\/\/www.ohselection.com\/wp-content\/uploads\/2019\/01\/Horlogerie-Allemagne.png\")
<\/a>German Watchmaking<\/h3><\/div>![\"French](\"https:\/\/www.ohselection.com\/wp-content\/uploads\/2019\/01\/Horlogerie-France.png\")
<\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
\n\n\n\n\n\n
<\/a>Watch Manufactures<\/h3><\/div><\/a>Watchmaking Groups<\/h3><\/div><\/a>Watch Brands<\/h3><\/div>[\/vc_column][vc_column width=”1\/4″]<\/a>Swiss Watchmaking<\/h3><\/div><\/a>Japanese Watchmaking<\/h3><\/div><\/a>German Watchmaking<\/h3><\/div><\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
\n\n\n\n\n\n
<\/a>Watchmaking Groups<\/h3><\/div><\/a>Watch Brands<\/h3><\/div>[\/vc_column][vc_column width=”1\/4″]<\/a>Swiss Watchmaking<\/h3><\/div><\/a>Japanese Watchmaking<\/h3><\/div><\/a>German Watchmaking<\/h3><\/div><\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
\n\n\n\n\n\n
Watch Brands<\/h3><\/div>[\/vc_column][vc_column width=”1\/4″]<\/a>Swiss Watchmaking<\/h3><\/div><\/a>Japanese Watchmaking<\/h3><\/div><\/a>German Watchmaking<\/h3><\/div><\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
\n\n\n\n\n\n
<\/a>Swiss Watchmaking<\/h3><\/div><\/a>Japanese Watchmaking<\/h3><\/div><\/a>German Watchmaking<\/h3><\/div><\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
\n\n\n\n\n\n
<\/a>Japanese Watchmaking<\/h3><\/div><\/a>German Watchmaking<\/h3><\/div><\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
\n\n\n\n\n\n
<\/a>German Watchmaking<\/h3><\/div><\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
\n\n\n\n\n\n
<\/a>French Watchmaking<\/h3><\/div>[\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Is there a “watchmaking industry” strictly speaking? Or should we only refer to the “horology sector,” as one would say the “new technologies sector”? In reality, it all depends on one’s perspective \u2013 and especially on the country from which one observes it. For a watchmaking industry only exists when there is a large number of companies, manufactures, and organizations involved in the design and production of watches, as is the case, of course, in Switzerland, but also in France. Let us examine the mechanisms of this industry in this guide to watchmaking<\/a>. <\/p>\nThe many Facets of the Watchmaking Industry<\/h2>\n
In reality, there isn’t just one watchmaking industry, but several. Over time, and thanks to the transformations that affected it after the great quartz crisis of the 70s\/80s, the horology sector has reorganized itself around two major industries: <\/p>\n
\n- Mass-market watches, which represent approximately 90% of total production (about 1.2 billion units produced worldwide each year). These models are predominantly manufactured in Asian countries, on low-cost production lines. They are sold to the public for amounts ranging from a few euros to several hundred euros. <\/li>\n
- Watches manufactured for the high-end and luxury market: mechanical models, assembled by hand, in companies or manufactures that can be independent or belong to large watchmaking groups. The high-end watchmaking industry primarily originates from Switzerland, its cradle; but also from France<\/a>, Germany<\/a>, and Japan<\/a>. We are referring here to timepieces sold for anywhere from a few hundred to several thousand, or even tens of thousands of euros. <\/li>\n<\/ul>\n
It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\nNevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
The Watchmaking Industry and its Stakeholders<\/h2>\n
Overall, the watchmaking industry is divided among several key players:<\/p>\n
\n- The watchmaking groups<\/a> (which own several brands, such as Swatch Group);<\/li>\n
- Case assemblers (who do not produce their own movements but provide a finished, cased product);<\/li>\n
- The manufactures<\/a> (which adopt verticalized production and handle a maximum of tasks, from component design to casing: for example, Vacheron Constantin or Longines in Switzerland, but also Seiko in Japan);<\/li>\n
- Subcontractors (who supply parts to case assemblers and manufactures);<\/li>\n
- The brands<\/a> (emanating from groups, companies, and manufactures);<\/li>\n
- Retailers (from whom consumers purchase models);<\/li>\n
- Federations (which ensure compliance with and enforcement of watchmaking industry regulations, such as the FHS);<\/li>\n
- The control bodies<\/a> (which issue certifications, such as the Swiss Official Chronometer Testing Institute, or COSC).<\/li>\n<\/ul>\n
The Horology Sector and its Economy<\/h2>\n
The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n
The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\nTo a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\nThe many Facets of the Watch Industry<\/h2>\n
In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n
Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros.
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\nIt is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\nNevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n
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It is clear that the Swiss watchmaking<\/a> industry primarily operates in the luxury and high-end sectors: the most expensive (and most coveted) watch brands are almost all based in this small country. The global reputation acquired by Swiss movements is so significant (and so profitable) that the competent authorities have established a “Swiss made” label, which companies producing their timepieces within its borders can benefit from. Visit the website of the Federation of the Swiss Watch Industry<\/a> to learn more. <\/p>\n Nevertheless, as most production is mass-market, the majority of watches produced by the watchmaking industry come from Asian countries. Even timepieces stamped “Swiss made” regularly source components from Chinese or Japanese workshops (which have acquired an excellent reputation for movement quality).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n Overall, the watchmaking industry is divided among several key players:<\/p>\n The horology sector is in excellent health \u2013 generating several billion euros annually, although these indicators have shown a tendency to decline in recent years. In 2012, the global watchmaking industry generated approximately 40 billion euros and employed several hundred thousand people worldwide. Despite a slight decrease in workforce, particularly in the Swiss market, and declining sales figures (due to global economic uncertainty), the watchmaking industry remains a significant financial boon and an indispensable market. <\/p>\n The impact of the watchmaking industry on national economies varies greatly depending on the country. It is obviously crucial for Switzerland, the cradle of modern watchmaking and the epicenter of the high-end segment globally: in 2012 and 2013, watch exports amounted to 21 billion Swiss francs (19.5 billion euros), or \u20ac10.5 billion annually. While this amount has certainly decreased \u2013 9.4 billion Swiss francs in 2016 (8.8 billion euros) \u2013 it remains high and is predominantly driven by Asian countries (source: Deloitte 2016 study<\/a>). <\/p>\n To a lesser extent, the significance of the watchmaking industry is also considerable in France, Germany, China, and Japan. Each country possesses its own “watchmaking industry,” with its unique specificities![\/vc_column_text][\/vc_column][\/vc_row][:en][vc_row][vc_column][vc_column_text]Is there a “watch industry” to speak of? Or should we just mention the “watch industry”, as it looks like the “new technologies sector”? It all depends, in fact, from what point of view we place – and especially from what country we look. Because there is a watch industry only when there are a large number of companies, factories and organizations involved in the design and manufacture of watches, as is the case, well sure, in Switzerland, but also in France. Let’s see what the wheels of this industry are in this watchmaking guide<\/a>. <\/p>\n In reality, there is not a watch industry, but several. Over time, and thanks to the transformations that affected it after the great crisis of quartz in the 70s and 80s, the watchmaking sector was recomposed around two major industries: <\/p>\n Mass market watches, which account for about 90% of total production (about 1.2 billion units produced worldwide each year). These models are mainly manufactured in Asian countries, on low-cost production lines. They are sold to the public for sums ranging from a few euros to several hundred euros. It is clear that the Swiss watch industry operates mainly in the luxury and high-end sectors: the most expensive (and most popular) watch brands are almost all based in this small country. The worldwide reputation gained by the Swiss mechanisms is so important (and so profitable) that the competent authorities have put in place a “Swiss made” label which can benefit the companies that produce their timepieces within its borders. Visit the Federation of the Swiss Watch Industry website<\/a> for more information. <\/p>\n Nevertheless, most of the production being mass, most watches produced by the watch industry come from Asian countries. Even timepieces stamped “Swiss made” are regularly supplied in parts by Chinese or Japanese workshops (which have acquired, in terms of movement quality, an excellent reputation).[\/vc_column_text][vc_single_image image=”99419″ img_size=”full” alignment=”center”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\nThe Watchmaking Industry and its Stakeholders<\/h2>\n
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The Horology Sector and its Economy<\/h2>\n
The many Facets of the Watch Industry<\/h2>\n
\nWatches manufactured for the high-end and luxury market: mechanical models, mounted in an artisanal way, in companies or factories that can be independent or belong to large watchmaking groups. The high-end watch industry comes mainly from Switzerland, its cradle; but also from France<\/a>, Germany<\/a> and Japan<\/a>. We are talking here about timepieces sold between a few hundred and several thousand, even tens of thousands of euros. <\/p>\n