Provoking Thought About Apple Watch and IWC...

Perhaps this a "lightening rod" of a topic. Clearly the looming 'Apple Watch' set to launch next Spring does not overlap any market segment that IWC serves - and just by price, will only overlap about 2% of the Swiss luxury watch segment in the $500-$3,000 USD segment.

I pose the idea that the Apple Watch can be a great help to IWC if IWC embraces it. The Apple watch will appeal to an expanded market of youthful, technically savvy people, and encourage more people to wear watches - mostly those who do not currently even wear a watch every day.

Certainly, no 'smart watch' will replace the emotion, luxury and artistic expression and engineering that is embodied in the IWC's and fine mechanical watches we cherish - However, there may be an opportunity for IWC to participate in a new segment of DIGITAL Horological commerce on the Apple Watch platform - and profit greatly from it.

Just like the iPhones and smart phones - people will clammer to 'personalize' their devices. They will seek "apps" that interest them, and follow their own friends and twitter leaders with apps that are recommended and shared on social networks.

The question is - Do you think IWC would benefit from immediately embracing the Apple Watch and utilize the platform to expand their current social marketing efforts to introduce the world of IWC to this new segment - who in time will become comfortable in wearing watches again, and eventually seek out an authentic, mechanical luxury watch?

Would you pay $20, $49, $89 or more for an IWC-developed App of a virtual "IWC Constant Force Tourbillon", or "Portuguese Sideral Scafusia", or "Ingenieur Digital Date Month" so you can experience these IWCs and learn to appreciate luxury watches?

Do you think the first luxury Swiss watch company to embrace this platform will gain an advantage in years to come?

Very interesting insight and might be attractive for the young ones. I like the idea of introducing them to the other options out there.

Great graphics job cropping the IWC into the iWatch. Nice impression of what can be achieved!

As for me, I don't see myself wearing an iWatch at all.

I'll buy an Apple watch just for the fun of it. Has nothing to do with mechanical watch collecting though. And IWC is not poised to compete with Apple anyway.
Mechanical watch companies should be more concerned with the Sistem 51 watch. The ability to produce a quality movement might have more impact in the future. But even that doesn't pose much worry at present.

Mr. Ross I do not concur. And I do not think that Georges Kern or any of his fellow Haute Horologie CEO's lie awake at night, becuase of Sistem 51 developments.

A visit to any Swiss Manufacture, and seeing those meticulous and highly crafted watchmakers plying their trade (be it setting jewels, applying finishing to bridges and/or assembling balance wheels etc.) soon puts paid to the idea, that any machine made watch will ever reach the level of perfection and finish that goes into each IWC or other fine timepiece.

I do agree the apple thing will be a fun thing though - I probably will join you in getting one.

I am with Michael.

I honestly don't think IWC should get into, nor be interested in this market. If they fail, it will diverge the company's focus and give the company a bad name. If for whatever reasons they succeed, IWC will be a very different company. The question is... do we really want IWC to be that type of company?

I work for a renowned computer storage company. Everytime our sales gives out cheaply made USB thumb-drives as sourvenir to customers, I cringe. We are essentially putting our company's reputable storage protection name onto a piece of low-cost, consumer-level, protection-less accessories. If a joe-shmoe user who can't tell the difference, and encounters data loss with the thumb drive, what would they think of my company's data protection and reputation?

Having said that though, I think if IWC indeed wants to expand into other markets, the company can definitely do some sort of cross-over with other brands. In deed IWC has been doing so. Putting IWC branded clocks (not sure what's the mechanism inside) inside AMG MB is a better move and strategy, in my opinion. Perhaps IWC can do more cross-over with some high-fashion brands... Prada perhaps (again? cringe, cringe. Nice attempt though).

A company needs to understand who is its target audience, and which is its market segment. No one will go to McDonald's for a sit-down dinner and decent meal. If McDonald's wants that market, surely it will need another brand-name to focus on that. Likewise, call me a conservative, but I like where IWC is, and doesn't want it to deep dive into a wrong market.

I have as many Casio G-shocks as I do with IWC's. (hrmm... just checked, still true... thank you). They are two separate markets... yes, I do own both and love them both, but I surely won't be very pleased to see an IWC G-Shock.

My 2c worth only.

I don't quite know about the need for IWC to do something with the Smartwatch concept. IWC is in the business of luxury watches, for an audience that is willing to pay a lot of money for beautifully crafted products. This need that is quite emotional has nothing to do with the need to have a wrist device that delivers ICT-based services. I wouldn't mix them up.

As for myself, I am not interested in these devices, will not buy one: I think that my iPad makes me invade that ICT world more than enough. And I just don't warm up to gadgets.

Kind regards,
Paul

I am with Michael and do not think this is a significant business for IWC. But to extend the app for the iPhone and bring it to new life could be a good idea to connect collectors better to this IWC internet platform and thus to the brand.
Many of you post at Facebook in the IWC passion channel rather than here. Because it is easier there. You can upload pictures, link them into your own profile. Perhaps there should be a better integration with Facebook and other social media platforms.
Just a few (unready) ideas.
The iWatch for me (as a big Apple fan) is nothing to achieve right now. I cannot yet see its use.

All good point that I agree with 100% but a little off from addressing my question - which perhaps was not totally clear - Which is whether IWC should embrace the Platform for social marketing purposes - like it has with iPhone and iPad apps.

Does the fact that this device being a "watch" confuse matters? Would you rather just interact with IWC marketing campaigns using desktop internet or tablet/smartphone devices?

Just like Tilo points out.

Yes. IWC should absolutely embrace the Apple watch for social media / brand recognition purposes. The associated apps should be free and cool. In fact IWC should hurry up and be one of the smart Swiss watch companies to have some clever apple watch apps first - so that before the watch app store gets saturated with others who follow-suit, the first many millions who are looking for cool 'watch' apps will download IWC's free one and learn about WHO IS IWC.

This is all just another way of brand recognition for IWC, even if the likelihood of these users translating to actually buying IWCs in the future is incredibly low - just a tiny fraction is all it takes to justify the investment. But even if it never eventually directly justifies the investment - any company regardless of what industry they are in HAS to stay ahead of the curve and use new technologies (and especially ones put out by the behemoth that is Apple) to their advantage (however indirect).

Regards,
Thang

Mark,
I agree that no one is lying awake worrying about a Sistem 51.
But maybe in a few years someone should. Because if mass produced mechanical movements further evolve and become a reality at a few price points up the scale you never know what the result might be.

Hi Alan,
I think there is no concern for other manufacturers right now, but the moment there are Sistem 51 reunions in New York - look out watch world ;-)

I think the question addresses an important marketing challenge for companies like IWC.
The smartwatches have been introduced, that is a fact. And they offer additional functionalities to time telling. It is the start of a new episode and we can expect a next transition too. Most current smartwatches are complementary to smartphones. Future smartwatches will be substitutes to some extent is my belief. We have seen in the past the transition of the pocket watch to the wristwatch. Obviously people prefer the last, it is more convenient.
The question will be what the impact will be for the watch industry. Many articles have been written and views differ.
What would the IWC forum members do? And if you choose to buy a smartwatch, would you wear your IWC too?
I am 100% sure I will wear a smartwatch when I can leave my smartphone at home. And do I continue to wear my IWC too (together)? Preferable yes. But I can’t be sure.
I don’t expect that IWC can offer me a smartwatch, it is a different industry. But I like that the idea that a smartwatch can be given the identity of an IWC (app). And I am happy to pay for that.

Last summer I bought a Sistem51. I had no intention to buy another then an IWC watch, but my wife needed a new plastic watch and the salesperson showed me the Sistem51 that was completely new for me. Being interested in innovation I immediately bought the watch.
Having the watch I was wondering the impact in the industry. When a company can sell a watch with these specs for such money. Just after the purchase I read reviews and was even more impressed about what has been achieved. But that was it. I hardly wear the watch. I can’t depart from my IWC (Pilot UTC). The material, the finish, the weight, the visible and hidden energy of the Pilot UTC (and my two other IWC’s) can’t be replaced by a Sistem51. The last is made of plastic and when it is stuck it can only be thrown away, being waste. But what will happen if the movement and case are made of high quality materials? Certainly the innovation done for the Sistem51 has opened another approach in the watchmaking industry and I wonder if that will be applied in the higher market too.

I very often visit this forum and I thank you for your contributions. I enjoy the stories.

Eduard
(a silent forum member since many years)

Hi Richard, sorry for my belated response but I missed your original post. I also totally agree that IWC should explore the digital 'brand extension' opportunities that Apple Watch represents.
Recent history also shows that IWC is very willing to test new media AND has the guts to also stop or change as they feel need, with one thing in common: IWC does produce very high quality (and even innovative) content. Examples: various formats tried and tested for the iPad (whilst killing paper production of the Watch magazine).

Personally I don't believe in paying for an 'app', or wallpaper etc. at least not if it just concerns images. But let the masses develop for/with IWC !

Regards,

BB

Hmmm...I think IWC should definitely sit up and notice...I believe in the near future, many people will have a "smart watch"...just like how so many have one or even two smart phones these days. I can imagine watch collectors/enthusiasts wearing a smart watct on one wrist, and a mechanical one on the other (the very fact that we are in this forum means there will always be a dedicated spot for our mechanical watch).
Regarding the sistem51, you never know. After all, the swiss watch industry was perhaps too complacent and turned their noses up to quartz and look what it almost did to them...

It's so nice