“It takes three minutes for the phones to start ringing off the hook“

When it’s a question of watches, these two men really know what’s what. Bernhard Stoll, CEO Watch Division, and Uwe Beckmann , the General Manager of the Wempe showroom on 'An der Hauptwache in Frankfurt', are an experienced team and have been in the watch business for more than 30 years. In this interview, they explain why trade fairs are so important in the watch business, what trends they expect to see at Watches & Wonders — and why even valuable watches should not be left in a safe.

Mr. Stoll, Mr. Beckmann, what are you looking forward to most of all at this year’s Watches & Wonders?

Uwe Beckmann: The most important thing is naturally the competition between the big brands. Who will present the most spectacular innovation, who will launch a sustainable trend? But what I personally look forward to most of all is the many short conversations with manufacturers and colleagues on the fringes of the event. After all, that’s the essence of a trade fair…

Bernhard Stoll: …and the thing that was missing completely during the pandemic. I’ve been going to watch fairs for 38 years, and during that time one builds up long-term relationships. I’m personally acquainted with many owners and CEOs of the big brands. Keeping up these contacts is just as important to me as the experience of touching and feeling the products.

Last year there were 22,000 visitors at the trade fair — and several hundred million people were following it online. Are big in-person events still in tune with the times?

Bernhard Stoll: For us jewelers, they certainly are! We invest a great deal of time and effort in this trade fair. Each one of our showrooms sends someone to Geneva. And it pays off. People who have seen a watch themselves and held it in their hands can advise customers much more capably.

Uwe Beckmann: Digital access is a great complement, and it’s here to stay. After all, not every watch enthusiast can travel to Geneva. Besides, the trade fair organizers are trying to make the event more selective. We can no longer send as many colleagues as we used to; the numbers are limited. I think that’s a pity. Where else can you get such a comprehensive overview? The bigger a trade fair is, the better it is for us — and for our customers.

Bernhard Stoll: The nature of watch shows has changed tremendously. They used to be aimed exclusively at the trade, but today they’re increasingly oriented toward end customers as well. In the past, new models were presented only once a year, but today the presentation events are distributed throughout the whole year, sometimes also virtually. Nonetheless, this trade fair in particular is extremely important for identifying trends — and for whetting the appetite.

What do you consider more important: cultivating contacts or procuring watches?

Bernhard Stoll: Our task at the fair is clearly defined: procuring watches. Our customers expect us to have an overview of the international market — and to be able to provide them with the new models they want.

Uwe Beckmann: After an important presentation, it takes about three minutes for the telephones in our showrooms to start ringing off the hook because customers want to order these watches. For this reason alone, the focus always has to be on the product. But the conversations are very important for developing a sense of the brand and the strategy.

Why is that important?

Bernhard Stoll: We have to evaluate which new product will be a success and which one will be a flop — and ensure that as many good models as possible will be available for our customers. If we achieve that, we’ve done a good job.

Uwe Beckmann: Mechanical watches are a rare commodity, because their production has natural limits. That’s one reason why they are so much in demand. That’s also why on the first day of the fair we always have to discover which new models have the greatest potential. And after we’ve done that, we’ve got to be quick. (laughs).

Why is the interest in luxury watches growing year by year?

Uwe Beckmann: Our customer base is steadily growing younger. We’ve been watching this trend for quite a while. I think one reason for that is that young people are no longer focusing on cars as much as they used to do. When I was 18, my greatest wish was to have a car of my own. Today eighteen-year-olds have other dreams — a special watch, for example. We benefit from that, of course.

Bernhard Stoll: I think the price development is also playing a role. Mechanical watches have recently experienced an increase in value that was much higher than the increases for shares or real estate. That makes watches coveted investment items. Thanks to their lasting value, our products are sustainable in themselves, and they are often bequeathed to the next generation.

Uwe Beckmann: Their visibility has grown as well. Just look at the guests sitting in the talkshows. Almost all of them are wearing luxury watches. It wasn’t this way in the past. Nowadays a well-known brand worn on the wrist stands for prestige and status.

Bernhard Stoll: In my opinion, it’s much better if the owners regard their watches as watches rather than investment items. After all, a cool car isn’t any fun if it’s only standing in the garage.

What new trends do you expect to see at Watches & Wonders?

Uwe Beckmann:?I basically expect to see exactly what Bernhard has just been talking about: watches for daily wear. I think we’ll see many new sports watches, but nothing that’s super futuristic.

Bernhard Stoll:?Colored dials are still a trend, and there will definitely be a number of them there. There will also certainly be new materials such as ceramic, carbon, and titanium. The manufacturers are making sure they produce watches that will be commercially successful in the market — not only stainless steel models but also gold-stainless steel or gold-platinum combinations.

Which presentation are you especially eager to see?

Uwe Beckmann:?The biggest demand is usually for the new models from Rolex and Patek Philippe. That’s where the excitement traditionally runs the highest. Rolex is also celebrating three anniversaries this year. That will certainly produce something special. But we shouldn’t make the mistake of reducing the trade fair to these two brands. We’ve recently also seen great models from Cartier, Hublot, and other watchmakers.

Bernhard Stoll: I’m always in a strong state of suspense about the new models for which some advance information has been issued. Do they really look the way they do in the photos? How do they feel? You don’t know the true character of a watch until you hold it in your hand.

Mr. Stoll, Mr. Beckmann, thank you for this interview.