NYU Stern professor believes “brand building, democratisation, and retail experience” are key bottlenecks for luxury watches

Zach Blass

The jet-setting, cosmopolitan consumer marketing imagery traditionally associated with luxury has, perhaps, become increasingly outdated in a rapidly evolving luxury landscape. Even the watch boutique tropes of white-gloved specialists and champagne-christened purchases may need to be revisited. Luxury, perhaps once evaluated based on exclusivity and being in-the-know, has had to evolve and adapt in the modern age as many areas and industries have. However, as a very traditional, calculated, and measured industry, Swiss watchmakers are not usually ones to move fast and break convention.

With the rise of watch-specialised online publications, YouTube channels, and social media content creators, the conversation and buzz around watches is now 24/7, with more voices engaged than ever before. To better tap into the surging interest and discussion around horology, watchmaking, and novelties, it is clear that luxury watch brands will need to rethink the ways in which they engage, target, and transact with a new age of watch enthusiasts and collectors.

The “Ushering the New Age of Luxury” panel, moderated by Professor Thomaï Serdari, PhD, Professor of Marketing and Director of the Luxury & Retail MBA at NYU Stern, brought together Jean-Emmanuel Biondi, Head of Fashion & Luxury at Deloitte Consulting US; Wei Koh, CEO and Founder of Revolution and The Rake; and Patrick Pruniaux, Co-Founder, Chairman, and CEO of Sowind Group.

Professor Serdari set the stage by introducing the crowd to the “mille-feuille theory”, named after the French pastry which includes intricately constructed alternating layers of puff pastry and pastry cream. “The idea is that luxury is as delicate as this dessert,” Professor Serdari explained. “It has so many layers that one can keep uncovering the craftsmanship, the product excellence, the raw materials, and the individuality of the creator.”

Using this theory as a lens, Serdari identified what she believes to be three key bottlenecks for consumers to familiarise and engage with luxury watch brands: brand building (being more brand-driven than product-driven), democratisation (the industry remains too exclusive and traditional), and retail experiences (a potentially too intimidating and transactional process). With these three key elements in mind, the conversation turned to the behaviours of Millennial and Gen Z consumers.

In an increasingly digital age, Wei Koh raised the notion that the sizeable wave of new, younger watch enthusiasts stems from a desire to seek refuge or create a boundary from the disposable, digital world they find themselves too immersed in. ”The younger generation is focused specifically on that which is missing from contemporary culture, which is craftsmanship, native art, right?,” Koh said, “It’s almost as if they fall in love with watchmakers who intentionally regressed through industrial times and try to fabricate everything by hand.”

Though the romance and craftsmanship of luxury watchmaking have intrigued young buyers, statistics reveal there are obstacles to overcome. Armed with the data of the latest Deloitte Swiss Watch Industry Study released earlier this month, Jean-Emmanuel Biondi revealed that, ”58% of the customers are saying they can’t pay more than US$1,500, US$2,000 to buy a watch.”

This key figure affirms Serdari’s belief that watch brands need to create new entry points for younger consumers without compromising quality. It also explains why the 2025 Swiss Watch Industry Study also highlights how 40% of young buyers enter through the secondary market, almost double the number compared to the boomer generation. Young buyers are finding the secondary market is a more viable entrance fiscally, which, in turn, has an effect on the primary, retail market.

To better entice or speak to a new generation of watch buyers, some brands have explored incorporating sustainable materials into their creations. However, Patrick Prunaix, who oversees both Ulysee Nardin and Girard-Perregaux, is not convinced that sustainability-driven offerings are a strong purchase motivator.

“Using sustainable materials is not a main driver for buying a luxury watch,” Prunaix explains. “But it doesn’t mean because it’s not that we shouldn’t be doing it.” He believes it is a very important effort to make in regard to bringing further awareness to the cause, but notes it is more expensive.

Citing the first batch of Ulysse Nardin’s Diver Net watch, which utilises a significant amount of recycled and upcycled materials, Prunaix pointed out that the cost of making the case was almost equivalent to the cost of forging one in gold. With the budgetary constraints of young watch buyers illustrated in the 2025 Swiss Watch Industry Study, the target market is perhaps priced out.

The watch industry has tremendous potential with an enthusiastic new generation, but it must continue to modernise and evolve its approach to brand building, retail, and customer relationships while maintaining its core strength in craftsmanship and heritage, based on these expert sentiments and data points.