The Current State of the British Watch Industry – as told by those on the inside

Russell Sheldrake

This article originally appeared in Issue 9 of our NOW Magazine which was released earlier this year and can be bought now in both print and digital from our online store. 

We can feel very lucky right now in the UK. A surging wave of optimism and energy is pushing the watch industry forward with the top end of the market still holding its ground while a well-spring of young brands emerges. Nowhere was this more evident than at British Watchmakers Day on March 9, which saw 43 brands come together in a display of collaboration and intent.

However, it hasn’t always been sunshine and roses for the industry. For a long time, it was assumed that there wasn’t a watch industry in the UK at all. The perception was that there was Roger Smith, Bremont and, well, that was about it. But now with the help of the British Watch and Clock Makers’ Association (BWCMA), a lot more attention is being brought to the space. Paired with the spiking interest in watches since the pandemic, a perfect storm of conditions is brewing for this small, yet passionate, industry to rise.

Starting this examination with a look at the BWCMA seems fitting, although it is worth noting that there are still brands to discover outside the Association’s 105 members. Founded by Roger Smith, Mike France and Alistair Audsley in 2020, the BWCMA is the first trade body watchmaking has had in the UK in modern times. “Since the closure of Smiths in the 70s, we lost all of the knowledge we had to make watches at scale here in the UK,” Audsley says. The loss of such a large scale manufacturing company isn’t easily replaced. But the larger question here is if the functionalities that Smiths granted the sector are even necessary today.

Both Audsley and Nicholas Bowman-Scargill, owner of Fears Watch Company, posed the question of whether or not high-scale manufacturing needs to make a return to the UK in the short term. “Not to sound too controversial here” Bowman-Scargill said, “But I think people care about ‘Made in Britain’ the same way they care about sustainability. They will often say a lot about it, but when it comes down to it, it’s not as important.” Similarly, Bowman-Scargill and Audsley agree the importance of ‘in-house’ has been over-inflated in the past. What is truly important today, they believe, is a level of transparency and differentiation.

As Richard Benc, Founder of Studio Underd0g put it, “The British market adds value through British design” and this is where he sees the main difference between British brands and the behemoth of the Swiss industry. This makes sense when you consider the design greats that have come from British shores from Jony Ive to Tom Dixon. With such heritage to build upon its great to see brands like Studio Underd0g and Mr Jones Watches carve unique personalities in what is often considered an incredibly crowded market. Particularly as they have done so in record time.

Not only do British brands now stand out due to their design, but there’s also a large variety of brands that now exist. Even Don Cochrane, Owner of Vertex Watches, gets caught out by the sheer volume we find today. “That’s the thing that always surprises me, just how many watch brands there are and how many have started up in recent years.”

There is an interesting comparison to be made between Cochrane’s Vertex and Bowman-Scargill’s Fears. Both brands were started by ancestors of the current operators, and were relaunched at similar times – Vertex in 2015, Fears in 2016 – while both also had incredibly rich back catalogues to draw upon. But the two companies are run and marketed in very different ways. Fears has been sold in retailers for a number of years (including our discovery studios in Melbourne and London), and the brand recently opened its first boutique in Bristol. Vertex has never appeared in retailers, but also recently opened its first boutique in Shepherds Market, London. The big difference between these two locations is that Fears has a high amount of foot traffic going past its Clifton Arcade space, while Vertex is hidden away down a side alley, where you’ll only find it if you know it’s there. Both appear to be thriving despite their differing retail approaches.

But why does this comparison matter? It shows that brands that were started at the same time, and have very similar backgrounds can both find success in this space by pursuing different paths. It is not a one-size-fits-all approach when it comes to growing a British watch brand. Take Bremont as another example. They have been the biggest and most recognisable brand in the UK market for years, and despite the controversial rebrand that was launched at Watches & Wonders, they are pushing ahead with expansion plans. CEO Davide Cerrato admits he’s already set his sights on international growth. “We’ve been in the US for 15 years now, but it still has the biggest growth potential for us. Then we are looking at the Middle East and India.”

Having witnessed Bremont’s current expansion through taking on investment and pushing into global markets, it’s easy to see how other brands could follow suit. Audsley points out that Christopher Ward last year achieved £30m in turnover, and it wouldn’t be hard to imagine them following Bremont down the path of worldwide expansion. Nevertheless, the question remains as to whether the messaging for such an expansion would have as much impact as the quintessential Britishness the English brothers were selling.

However, there has been some push back lately to this overtly British marketing approach. Journalist and writer of the Fourth Wheel newsletter Chris Hall has accused brands of “slapping a Union Jack” on watches and thinking that was enough. But we have had a glut of young, energetic brands entering the space who are pushing British design sensibilities, without turning them into something you might buy at a souvenir store outside Buckingham Palace. And I think this is partly down to brands being based outside of the country’s capital.

We have Fears in Bristol, Studio Underd0g in Brighton, Garrick in Norfolk, anOrdain in Glasgow and, of course, Roger Smith on the Isle of Man. This nationwide expansion of the industry has created more and more opportunities for those wishing to enter the field. That’s sorely needed, too. “We have a significant lack of talent entering the sector,” Audsley admits. “We are developing a careers hub at the moment – a one-stop shop for someone coming into the industry at any level.”

Currently there are two major sources feeding into the industry: the British School of Watchmaking offers the 1800 and 3000-hour Watchmakers of Switzerland Training and Educational Program courses in Stockport, while Birmingham City University delivers its own BA Horology Course. Yet this still feels like a massive weak point. If we are to grow and reach BWCMA’s goal of £1 billion in market retail value for the sector, the entry points need to massively increase.

With such a rich engineering industry ranging from automotive to civil already established in this country, it would seem like an easy step to pivot into watch manufacturing. But it’s not just watchmakers we need, argues Audsley, “We also need marketers, designers and all the other professions that surround our industry.” Filling these gaps might not be as easy until the reputation of this space has increased to the point where it’s considered a stable and growing industry.

While the entry points into the professional side of the industry still feel like they are under development, the collector and enthusiast community we have here in the UK appears to be stronger than ever. One of the main takeaways from British Watchmakers’ Day was just how many people turned out and were willing to queue up to get in. Whether it was to buy their very own Pizza watch, shake hands with Roger Smith or discover some of the smaller brands on display, the levels of enthusiasm was clear to see.

These displays at public events may give you a sense of the industry. But the best way to get quantitative data is still the BWCMA Bellwether report that came out in July 2021. It painted a fairly positive picture of the industry at the time, but I think it’s clear to see that it has definitely grown since. Fortunately, Audsley told me a new report has been commissioned and is due out later this year. That will ultimately show whether the positive sentiment that we feel is being reflected in hard numbers.

Whatever the report shows, the British watch industry is certainly a fun and vibrant place to be in right now. And coming from a young person who has spent their entire career working inside it, it feels like the best is still yet to come.

As mentioned, this article originally appeared in Issue 9 of NOW magazine, which you can buy in print or digital form here.