Watch Industry Consolidation Threatens Independents’ Survival

Watch industry consolidation is crimping creativity and making it harder for independent watchmakers to compete, said Pascal Ravessoud, marketing and development director of the Fondation de la Haute Horlogerie.

Large luxury companies have more bargaining power with subcontractors and retailers as they buy brands and component makers, Ravessoud said in an interview last week. As demand slows, independent watchmakers’ survival is threatened as they face higher costs, he said.