Rolf Studer believes that his customers are no longer old. "Drinking champagne and talking about carefree life is a thing of the past," says the Co-CEO of the Swiss watch brand Oris. "It is no longer about the feudalistic ideas that have often shaped the luxury watch industry." Student's competitors come to a similar assessment. The bottom line: The symbols of prosperity and success are worth nothing without meaning. This is how climate change and social responsibility determine business today:
- Oris started supporting environmental projects on the Great Barrier Reef in Australia ten years ago with special editions.
- The watch manufacturer Blancpain launched the "Ocean Commitment" initiative and sponsors initiatives to protect the world's oceans.
- Omega sponsored the first manned solar plane,
- Montblanc donated more than $ 10 million to Unicef education programs.
- The manufacturer Hublot and the band "Depeche Mode" created a chronograph line to support "Charity: Water", an organization that provides people in developing countries with clean drinking water. So far, $ 1.7 million has been transferred.
- Triwa shows its commitment particularly vividly. The Swedish brand makes automatic watches from destroyed rifles. To this end, the United Nations-sponsored organization "Humanium Metal" collects weapons in El Salvador, scraps them, processes the metals that Triwa then uses for its casings. 15 percent of the proceeds go to the charitable development aid initiative Individuell Människohjälp.
The young Powershopper are feared
The motto is "think big": what started with individual projects to protect nature or endangered animal species is no longer sufficient as an ecological and ethical commitment. "In the past few years, customer demands on luxury brands have risen steadily," says Oliver Merkel, industry expert at the consulting firm Bain & Company. "For the prices asked, customers expect not only high-quality watches, but also sustainability and fairness in the manufacture and materials."
Younger consumers in particular are putting pressure on them. Merkel predicts "that millennials will dominate the luxury watch market by 25 percent in 2025". The young Powershopper are feared. If they are dissatisfied, they can trigger global shit storms on the Internet. The watchmakers react to this by reallocating budgets. Less money goes to influencers and testimonials, instead Merkel registers "a shift in advertising budgets in favor of CSR projects". The abbreviation stands for "Corporate Social Responsibility", ie the social commitment of the companies.
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From 650 to 31,000 euros: luxury watches for a clear conscienceMore and more brands in the industry like to have their fair behavior officially certified. The family-owned company Chopard has only used certified "Fairmined Gold" since 2018. The Swatch Group, the world's largest watch company ( Omega , Glashütte Original , Tissot ), is a member of independent organizations such as the Responsible Jewelery Council (RJC). Richemont, the third largest luxury goods provider with brands such as Cartier , IWC , Jaeger-LeCoultre and Vacheron Constantin , also sits in the same club. Like the Swiss Better Gold Association (SBGA), the RJC examines the value chain for ethical, social and environmental aspects.
Can you buy a luxury watch with a clear conscience?
The members guarantee that at least 90 percent of the gold they use has been recycled, i.e. that they have not been mined under partially questionable conditions. In addition, only gemstones are processed that meet the strict requirements of the Kimberley process. "The Swatch Group does not have diamonds that are used to finance violent conflicts," said Nayla Hayek, Chairman of the Board of Directors. Instead, the group finances the start-up "Belenos" of their brother and group boss Nick Hayek, who wants to revolutionize electric mobility with more efficient batteries.
But can you really buy an expensive timepiece with a clear conscience? "Mechanical luxury watches are extremely sustainable products," says industry expert Merkel.
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After all, they could be repaired for generations - unlike smartwatches and quartz watches with their environmentally harmful batteries or batteries, which usually only last a few years. In addition, many mechanical models are stable in value.
However, these genuine properties of their products are no longer sufficient for the industry, and companies go one step further. Rolex is at the forefront of this development.
The number one among luxury watch manufacturers with an estimated turnover of 4.6 billion euros per year has been for the common good for decades: its founder Hans Wilsdorf turned his company into a foundation in 1945 - long before charity established itself as an image polish. The Frank was an orphan, remained childless and, after the death of his wife, determined that profit shares should be used to promote "knowledge and the well-being of mankind".
Profit to promote "knowledge and well-being of mankind"
One still feels committed to this philanthropic motto, sponsors sporting events, opera festivals and scientific expeditions and distributes high prize money to people with a special entrepreneurial spirit. Rolex rewarded the development of a "desert refrigerator" for Africa and environmentally friendly light sources in Nepal as well as initiatives to treat diseases or remedy environmental damage. Trees were planted, penguins, bats and snow leopards saved - all under the seal of the luxury brand.
This year, Rolex went even further. Under the motto "Perpetual Planet - preserving the environment", the company awarded ten activists with prizes and money, including the Canadian young entrepreneur Miranda Wang, who wants to convert a third of the world's plastic waste into high-quality industrial chemicals. Topher White received an honorary award for developing a warning system against illegal deforestation.
How Much Revenue Share Go to Charity?
It's a shame that you don't find out how much of the purchase price of the watch goes into such projects. The Geneva-based manufacturer is stoic about the numbers. Other brands may do less for the good of mankind, but be transparent when it comes to charity.
With the Nomos "Doctors Without Borders" model, 250 euros of the purchase price go directly to people in need. More than 8000 of these watches have already done their good. The information is rarely so concrete. Seiko makes a trade secret from the share of the proceeds from its chronograph with solar module, which benefits the "Fabien Cousteau Ocean Learning Center" for the protection of the oceans. Carl F. Bucherer does not reveal how much of his "Patravi Scubatec Black Manta Special Edition" is donated to manta rays. On the other hand, it is often emphasized that the bracelet consists mainly of recycled plastic from old PET bottles.
Bracelets made from recycled fishing nets
New, environmentally friendly materials have become a major topic for the industry: Panerai, for example, has teamed up with South African extreme sailor and environmental activist Mike Horn for a model that uses the recycled material Eco-Titanium for the first time. And since Breitling's boss Georges Kern was floating around in plastic on vacation, he has initiated beach cleanups together with the environmental protection organization Ocean Conservancy. His new diving watches, called "Superocean Heritage Chronograph 44 Ocean Conservancy", are equipped with a bracelet made from recycled fishing nets, which was developed together with the fashion label Outerknown by professional surfer Kelly Slater.
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Oris also recycles and manufactures colored plastic case bottoms, which the organization "Pacific Garbage Screening" collects in the sea and then processes. The watch boxes are made from recycled cardboard or an algae substance. That is more expensive than conventional products, says Studer, "in the end, the green economy is always worthwhile".
Sustainability is the order of the day. It has become the most important topic in the fashion and luxury industries. You don't sell any other way. And so, for the sake of the green image, people like to tell about energy-related renovations of the company headquarters (Oris) or the use of renewable energies in new buildings (IWC, A. Lange & Söhne).
Ultimately, no one will save the world by buying a watch. But at least he can set impulses. Even if it were still the most sustainable to just put on Grandpa's vintage model.