Retail

Watch Q&A with... Jared Silver – Stephen Silver

By Serge Maillard

June 2023

“The most important project in which our company has ever engaged”

Watch Q&A with... Jared Silver – Stephen Silver

By Serge Maillard

June 2023

Watch Q&A with... Jared Silver – Stephen Silver

“The most important project in which our company has ever engaged”

W

e recently interviewed a broad selection of managers, active in a variety of segments, to help us identify the major trends within the watch industry.

Our Q&A with Jared Silver – Stephen Silver.

Europa Star: What are your strategic priorities for 2023?

Jared Silver: Our company is in the midst of a major retail development project that will house stand-alone boutiques, a restaurant, a living room-style showroom as well as our corporate offices. This will be a transformational project for luxury retail in the San Francisco Bay Area and especially in our part of Silicon Valley, which has massive amounts of potential for local development done the right way. This will be the most important project in which our company has ever engaged.


Jared Silver

Which brands or types of brands do you think have the highest potential for growth this year?

Stephen Silver Fine Jewelry has always concentrated on independent brands. I see the greatest potential in this sector on a macro level. While the last couple of years have been kind to the watch industry at large, the bigger brands will have to negotiate relaxing demand and aftermarket prices as the economy cools. The independents, on the other hand, have received exposure like never before, which has brought interested clients in large numbers relative to their exceedingly small production levels. I think they will continue to benefit as the top-tier customers discover their qualities versus the much larger companies.

The emergence of the secondary market represents a major new development. Are you taking any steps to build a presence in preowned?

We have been highly active in the pre-owned market for several years. For a company like ours that prioritises relationships, our ability to help our customers curate their collections has created a virtuous cycle. We now have a pre-owned collection filled with exotic and hard-to-get models. It also allows some of our newer collectors to access some of our brands whose production is oversubscribed.

EXPLORE ALL OUR EDITIONS SINCE THE 1930s ONLINE

Watch Q&A with... Jared Silver – Stephen Silver

WATCH FILES
Retail

Ocarat: the French retailer with 180 brands

Ocarat: the French retailer with 180 brands

Its catalogue reads like a who’s who of affordable contemporary watchmaking, from established names to startups and micro-labels. As well as making 99% of (...)

Rolex and Bucherer: a shared history

Rolex and Bucherer: a shared history

The recent announcement of Rolex’s acquisition of prestigious watch and jewellery retailer Bucherer marks the culmination of nearly a century of shared (...)

Watch Q&A with... Nicolas Hildenbrand – Watchdreamer

Watch Q&A with... Nicolas Hildenbrand – Watchdreamer

“We still see enormous potential in online retail in Switzerland”

Watch Q&A with... Raphael Gübelin – Gübelin

Watch Q&A with... Raphael Gübelin – Gübelin

“We expect an increase in tourism this year in Lucerne, a positive signal for the watch business”

Watch Q&A with... Brian Duffy – Watches Of Switzerland

Watch Q&A with... Brian Duffy – Watches Of Switzerland

“Extending market presence both in the UK and internationally”

Yourasset paves the way for accessible watch financing

Yourasset paves the way for accessible watch financing

Swiss startup Yourasset has set up a digital platform to serve as an intermediary between retailers and customers, offering a financing payment solution in (...)

Concentration continues in watch distribution

Concentration continues in watch distribution

MARKETS

A distribution strategy that emphasises monobrand stores is benefitting a small number of powerful retailers with the necessary logistical and financial (...)

A retailer provides free parking to an entire town

A retailer provides free parking to an entire town

PORTRAIT

Ahee Jewelers, a multi-generational retailer based near Detroit in the United States, decided to offer free parking for two months to residents of its (...)

Lucerne: why Gübelin is joining forces with TimeVallée

Lucerne: why Gübelin is joining forces with TimeVallée

The mid-sized traditional Lucerne retailer, which enjoys a well-established reputation but lacks the critical mass of the watch distribution giants, has (...)

Watches of Switzerland goes on the offensive in Europe

Watches of Switzerland goes on the offensive in Europe

RETAIL

British retail giant Watches of Switzerland, already well established in the United Kingdom and currently enjoying strong expansion in the United States, (...)

Bigger, better, stronger

Bigger, better, stronger

REPORT

Discover our report on the emergence of “super-retailers”.

Beyer Chronometrie: deep roots and NFTs

Beyer Chronometrie: deep roots and NFTs

COUNTERPOINT

Despite numerous requests to do so, the world’s oldest watch retailer has always refused to open any points of sale outside its original stronghold in (...)

“Continuing to set the standard in our region”

“Continuing to set the standard in our region”

3 QUESTIONS FOR...

Mohammed Abdulmagied Seddiqi, Chief Commercial Officer, Seddiqi Holding

“Brick-and-mortar remains our most dynamic activity”

“Brick-and-mortar remains our most dynamic activity”

3 QUESTIONS FOR...

Anthony Tsang, Senior Marketing Manager Greater China Region, Oriental Watch Company

Super-Retail: the race for global dominance

Super-Retail: the race for global dominance

REPORT

An increasing number of retailers are moving out of their home markets and successfully establishing themselves in other parts of the world. This (...)

Watches of Switzerland, a “super retailer” in the making

Watches of Switzerland, a “super retailer” in the making

INTERVIEW

Operating from its British stronghold and publicly listed since 2019, Watches of Switzerland has massively expanded its footprint in both the UK and the (...)

What does the future hold for independent distributors?

What does the future hold for independent distributors?

REPORT

In this special report, consultant and cofounder of the Watch Distributors Directory Thierry Huron shares his latest findings and data on the changing (...)

The resilience of in-house jewellery for retailers

The resilience of in-house jewellery for retailers

INTERVIEW

For decades, family-owned London Jewelers has represented prestigious brands on Long Island. In the midst of the pandemic, the retailer renovated its (...)

Bucherer BLUE: “Bringing exclusivity back to retailers”

Bucherer BLUE: “Bringing exclusivity back to retailers”

INTERVIEW

More and more brands are reserving their most sought-after models for their own shops, which is causing increasing difficulties for multi-brand retailers. (...)

Watch retailers: strategies for dealing with the pandemic

Watch retailers: strategies for dealing with the pandemic

REPORT

With international travel halted, the absence of tourist customers has been keenly felt by the watch retail trade. Without this category of buyers, many (...)

An app to regain control over watch distribution

An app to regain control over watch distribution

SELLING WATCHES

A new word, promising if not exactly elegant, has made its way into the horological lexicon in 2020: “phygital”. Thomas Baillod is among those who have (...)

The watch retailer of the tech entrepreneurs

The watch retailer of the tech entrepreneurs

IN THE SILICON VALLEY

“The watch culture is very strong here, and we are really just scratching the surface of it as a retailer,” says Jared Silver, who represents the most (...)

“Sell-out has been declining since the start of 2019”

“Sell-out has been declining since the start of 2019”

WATCH INDUSTRY

The monthly sell-out index, compiled by consultant Thierry Huron, reveals that watch sales are in a fragile state of health. In the first quarter, the (...)

The case against flagship stores

The case against flagship stores

OPINION

Of course, Apple is very successful at running their own stores. However this does not mean that every other brand, even a close competitor like Samsung, (...)

Pure Play or Pure Pain?

Pure Play or Pure Pain?

THE MYTHS OF COMMERCE (PART 2/5)

In part 1 of my essay, I might have had you believe that I do not like e-commerce!? Just to be clear…Everybody who has something for sale should consider an (...)

The end of the “regular” retailer

The end of the “regular” retailer

12 DISRUPTIONS IN THE WATCHMAKING INDUSTRY

Bucherer’s acquisition of Tourneau is the latest sign to date of a consolidation in distribution, a move towards becoming more powerful in negotiations with (...)

From retail to e-tail

From retail to e-tail

WATCHWORDS

The English word “retail” has come a long way from its first recorded use, sometime in the 14th century. It comes from the Old French verb retaillier which (...)

Les Ambassadeurs: the “doors” concept

Les Ambassadeurs: the “doors” concept

RETAIL

“From the beginning we had a very clear strategy and positioning as a multibrand retailer."

“The enemy we have to beat is the online grey market”

“The enemy we have to beat is the online grey market”

RETAIL REPORT

“It’s crucial to go digital, and the watch brands have to start engaging with it now or things are going to get very complicated." sinon cela va devenir (...)

Getting future watch distribution right – the fate of an industry

Getting future watch distribution right – the fate of an industry

SCENARIOS

Statements by industry professionals made some 15 years ago reveal that even experts had only a vague idea about what watch distribution would look like (...)

Brick-and-Click Watch Retailing

Brick-and-Click Watch Retailing

EDITORIAL

Once upon a time, things were simpler. A watchmaker would find an agent for each country. That agent had representatives who would pack their watch samples (...)

“A garden of tranquillity in contrast with the digital jungle”

“A garden of tranquillity in contrast with the digital jungle”

BRICK & CLICK / GERMANY

“Faced with chains, supermarkets and mono- brand boutiques, a good number of traditional family boutiques have closed. And this concentration of the market (...)

“We are a service company, not a supermarket”

“We are a service company, not a supermarket”

BRICK & CLICK

A testimonial by Pablo Fuster, Relojería Alemana, in Mallorca (Spain).

“Reinventing yourself as a concept watch store”

“Reinventing yourself as a concept watch store”

BRICK & CLICK / SWITZERLAND

“We’ve been a family business for fifty years. Besides the boutique, 35 years ago we took over a vintage watch shop called Au Vieil (...)

“Necessity is the mother of invention!”

“Necessity is the mother of invention!”

BRICK & CLICK / BELGIUM

"We’re two associates and we launched our multi-brand boutique fairly recently, in 2009. And in the summer of 2017, we also opened the Rolex boutique in (...)

“We believe in the strength of omnichannel”

“We believe in the strength of omnichannel”

BRICK & CLICK / NETHERLANDS

“We come from the diamond sector, where our father already worked. And even today, our turnover is still fairly evenly balanced between jewellery and (...)

“Why would the customer want to buy this product from me?”

“Why would the customer want to buy this product from me?”

BRICK & CLICK / SWITZERLAND

"2017 started quite well in comparison to last year. We have many more guests from abroad back in Lucerne."

“Seeing with their own eyes”

“Seeing with their own eyes”

BRICK & CLICK / JAPAN

"2016 was a difficult year. In reaction, we increased our appeal to new customers by launching a website dedicated to watchmaking."

“Brands must limit production, control supply and stabilise pricing”

“Brands must limit production, control supply and stabilise pricing”

BRICK & CLICK / AUSTRALIA

“2016 was certainly a challenging year for retail. The increase in grey market activity and the aggressive pricing stemming from product dumping resulting (...)

“Consumers are looking for an experience, online or offline”

“Consumers are looking for an experience, online or offline”

BRICK & CLICK / PORTUGAL

“The Portuguese market still outperforms the global current trend."

“A more direct distribution structure needs to happen”

“A more direct distribution structure needs to happen”

BRICK & CLICK

“We set up an online shop-front for each brand on Skolorr, once they have been vetted and approved as a partner (to ensure trust, credibility, quality, (...)

Points of sales online engagement in 2017

Points of sales online engagement in 2017

BRICK & CLICK

Digital media are playing an increasingly important role in the purchasing process for luxury products in general, and watchmaking and jewellery in (...)

Business climate, competition and the digital future

Business climate, competition and the digital future

THE HOUR GLASS

The Hour Glass is present in the markets of Singapore, Malaysia, Thailand, Hong Kong, Japan and Australia. In 2016, in most of these markets, the watch (...)

“Retailers must transform themselves into showrooms”

“Retailers must transform themselves into showrooms”

BRICK & CLICK

“Today, retailers are coming under enormous pressure. Consumer behaviour is changing rapidly."

The last of the Mohicans: the outrage of a small retailer

The last of the Mohicans: the outrage of a small retailer

PORTRAIT

As part of our wide-ranging survey on the state of watch retail worldwide, we spoke with many retailers, both multi-brand and independent, as well as (...)

“We’re multi-brand and we still firmly believe in that model”

BRICK & CLICK / ITALY

“We have a main Flagship Store in Milan, still run by the founding family. We also operate the Rolex and the renewed Patek Philippe boutiques (...)

Of bricks and paper, clicks and storms

Of bricks and paper, clicks and storms

EDITORIAL

As a reading of this issue’s substantial “Brick & Click” dossier will reveal, watch retail is truly in the doldrums – or, more accurately, in total (...)

“Retailers need to turn into gallery owners”

“Retailers need to turn into gallery owners”

OPINION

“Retailers need to turn into gallery owners”: François-Xavier Mousin and Caroline Buechler (who worked for Swiss retailer Les Ambassadeurs and now head up (...)

“I wanted to sell watches, not prices”

“I wanted to sell watches, not prices”

DENIS ASCH

Comments by Denis Asch, watch expert and former retailer who closed his shop rather than change profession.

A paradigm shift for distribution

A paradigm shift for distribution

MARKETS

Wildly fluctuating exchange rates, the price slump, volatile customers, accumulating stocks, discount, competition from smartwatches, the grey market, the (...)

CTE Watch to distribute Daniel Wellington in the USA

CTE Watch to distribute Daniel Wellington in the (...)

TIME.BUSINESS Daniel Wellington appoints CTE Watch as local offline partner in the USA, Caribbean, and Travel Retail/Cruises Americas.

Swiss retailer Les Ambassadeurs appoints a new CEO

Swiss retailer Les Ambassadeurs appoints a new (...)

TIME.BUSINESS Philipp Budiman is the new CEO of Swiss retailer Les Ambassadeurs and of its sister company Watches of Switzerland. He previously served as CEO of (...)

Omega opens a new “immersive” boutique at Zurich Airport

Omega opens a new “immersive” boutique at Zurich (...)

TIME.BUSINESS The Circle is the new must-see destination for business and lifestyle at Zurich Airport. Alongside the host of gastronomic, event and shopping venues, the (...)