Looking at the mainland market today and trying to figure out where it will go is much like the old story of different views of an elephant giving you different assessments. In this case, however, the elephant would be young, growing quickly, learning more and be different from others around it.
Many watchmakers and brands have responded or tried to respond quickly to what they saw or heard, sometimes anecdotally. Many watches were supposedly produced for the Chinese market, but they all seemed to be done in batches, with specifics and directions that changed as it was realised that perhaps perceptions weren't exactly spot on. The mainland market is huge and growing, but it is also acting in many ways just like the traditional horological market always has, though at a much faster pace. 'China is just opening up, but will see maturity in as little as a few years,' predicts Hublot managing director Ricardo Guadalupe.
Some more outspoken CEOs have been quoted as saying that they will not produce watches for the mainland market, but rather that the market will come to understand their watches. As startling as this may sound, it does point to one very important idea: to do what you do well and to remember that not everyone will get you right away. The present truths are that buyers want classic luxury timepieces; they want a history that speaks of everything from patience to longevity, and that watches need to speak to others of how the wearer wishes to be perceived. None of these are peculiar to the mainland market.
Buyers want luxury watches to show that it is a luxury they can afford, that they have taste and don't need a rugged tool beside them all the time. Watch companies are now somewhat forced to look not at the high-end complications and expensive pieces, but at the clean, classic basics. The fact that more and more three-hand watches are being developed and put on show is a good thing, and they sell at all price points on the mainland.
The fact that these watches are deviating from the trend of hugely oversized watches is also a good thing. Chinese wrists may be smaller, but it is a push in the right direction, according to many insiders.
Anyone who thinks you need the big numbers and wide face of a pilot or sports watch need only look at what many consider the most beautiful and balanced watch face ever produced, the classic Patek Philippe Calatrava, to see that balance and design are far more important than size.
