A series of mic drop releases set the Swiss luxury watchmaker apart from its peers this year
At the end of March 2022, CEOs from the majority of the world’s most prestigious watch companies gathered under one roof in Geneva. The occasion was a lavish trade show, the highlight of the watch business calendar, where brands launch their new models – hundreds of millions of pounds worth of stock – an event that goes a long way to determining the size of their profits and the position of their brand equity for the year.
The journalist’s question to all the rival CEOs was a canny one. What did they make of the collaboration? It may seem like First World News – indeed, it is – but you can bet the rest of the Swiss watch business, responsible to exporting a record £18 billion in watches in 2021, took good notice. The MoonSwatch collab remains the most talked-about launch of 2022. One media outlet called it “without question, the biggest watch release in decades”. You can imagine it being taught as a test case in business schools for years to come.
On paper, any of these ideas could have blown up in its face. Indeed, back in March, those 17 CEOs laughed that it would. As the old line goes, presumably they’re not laughing now. By all accounts, the MoonSwatch was a Swatch-driven project – the idea of Nick Hayek Jr, CEO of the whole Swatch Group. “It was a very smart strategy to launch products that were so diverse this year,” says Oliver Müller, a strategy consultant with the Swiss watch firm LuxeConsult, who produces an annual report for Morgan Stanley on the watch industry.
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