Demand for watches 'making parts rarer'

First published: 14-03-2012

Demand for watch parts is on the increase and is having a knock-on effect on the amount available for suppliers.

Watch companies are now having to move quickly in order to create allegiances with companies that can supply new parts to them as the Swatch group has announced it is to reduce the amount of parts it provides to other companies.

Instead, the Swiss watch company is planning to focus on creating products for its own brands.

Speaking at the Baselworld watch and jewellery event, Luc Perramond, chief executive of La Montre Hermes, explained to Reuters that there are now fewer independent watch manufacturers and it is becoming more difficult for companies to work with specialists.

"There's a definite trend for concentration," Mr Perramond said.

While there have been some changes to the market, many of the major watch companies are still seeking to add new timepieces to their collections, with brands such as Omega and Tag Heuer making announcements about new designs and ambassadors at the conference. 

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