CEO Interview | Why Have Dubai Watch Week and the Horology Forum Been Held for Ten Consecutive Years Without A Focus on Sales?

11月 14, 2024

“Many brands, after participating in several editions of Dubai Watch Week, have come to understand one thing: sometimes it is essential to showcase oneself without considering sales,” said Hind Seddiqi, CEO of Dubai Watch Week, in an interview with Luxe.CO.

Hind Seddiqi and her family’s profound legacy in the watch industry traces back to Ahmed Seddiqi & Sons. As the largest luxury watch retailer in the Middle East, they partner with over 60 fine watch and jewelry brands and are the distributor of Rolex in Dubai—a partnership that has spanned nearly 60 years.

CEO of Dubai Watch Week, Hind Seddiqi

In 2015, Dubai Watch Week was established under Hind Seddiqi’s leadership. In the watchmaking world, it is more common for brand groups to organize industry exhibitions, making Dubai Watch Week unique from its inception by being backed by one of the world’s largest watch retailers.

More significantly, unlike many trade fairs with strong commercial undertones, Dubai Watch Week and its flagship Horology Forum set out with a clear objective from the start: to create a gathering for sharing watch culture. The exchange of diverse perspectives and the influx of emerging talent undoubtedly inject vitality into the entire watchmaking industry.

Recently, Dubai Watch Week held its 10th Horology Forum in Hong Kong, marking its first event in Asia and an important milestone for expanding into the Asian market. Luxe.CO attended the event and interviewed Hind Seddiqi, the driving force behind Dubai Watch Week.

Why is Dubai Watch Week a Unique Event in the Watch Industry?

— Supported by One of the World’s Largest Watch Retailers

To understand the distinctiveness of Dubai Watch Week, we must look at its organizer, Ahmed Seddiqi & Sons, one of the Gulf region’s first watch dealers and the leading luxury watch and jewelry retailer in the Middle East, renowned in the global watch industry.

In Dubai alone, the Seddiqi family’s stores are spread across major hotels like the Burj Al Arab and Atlantis, as well as prominent malls such as the Dubai Mall, home to the world’s largest Rolex boutique, operated by Ahmed Seddiqi & Sons.

Luxe.CO: Could you share the origins and purpose of Dubai Watch Week?

Hind Seddiqi: It all started in 2014 when we hosted the Geneva Watchmaking Grand Prix (GPHG) touring exhibition in Dubai, introducing the art of watchmaking to Emirati consumers. Before this, we frequently took collectors and watch enthusiasts to Geneva to tour watchmaking workshops.

Through this process, we realized that people were interested not only in products but also in the stories behind the watches.

When we were asked to bring GPHG back to Dubai, we thought it wasn’t enough to just bring the awards; we needed to organize related events. People were curious about what was happening behind the scenes in watchmaking; they wanted to meet the artisans behind the watches.

2023 Dubai Watch Week

— A Non-Commercial, Global Platform

Luxe.CO: How does Dubai Watch Week differ from other watch industry events?

Hind Seddiqi: As a major retailer, we have the trust of brands, which is a significant advantage. Without the trust of these brands, we couldn’t persuade them to participate. Dubai Watch Week is non-commercial; we don’t sell any products.

This approach was unusual for brands initially; they were invited but not allowed to sell. We told them, yes, you are here, but not to sell—you’re here to share your story and showcase what makes you unique, whether it’s innovation, new technologies, or new talent in your watchmaking team. Show the true essence of your brand.

Now, after several years of participating, brands have come to understand that sometimes, showcasing oneself without focusing on sales is equally important, as sales come afterward.

Luxe.CO: In your opinion, what has driven Dubai Watch Week’s rapid growth over the past decade?

Hind Seddiqi: Most importantly, we genuinely created it for the industry and watch enthusiasts, not for profit. We listened to the industry’s needs, received feedback, and worked hard to meet those expectations. We earned the trust of brands and built a community of collectors, watch journalists, brands, emerging talents, and creative minds. We meet every two years, like a family reunion.

This year’s Horology Forum featured nine master classes covering tin bell-making, tea blending, calligraphy, and creative automata workshops, leading participants to a deep exploration of intricate watchmaking skills and craftsmanship.

— Showcasing the Diversity of Contemporary Watchmaking

Luxe.CO: Why does Dubai Watch Week strongly support independent watchmaking brands?

Hind Seddiqi: When we started in 2015, we only had independent watch brands and no major brands. Independent watchmakers have great stories but lack sufficient exposure, so we wanted to bring them to the forefront.

Even today, we have a large area dedicated to independent brands. We ensure that new independent brands are always invited, and we provide two free exhibition booths for newly launched brands, especially those without the resources to set up their own.

I think “independence” means that these brands are not controlled by any large group, allowing them to freely create what they believe will work. They can produce one or twenty pieces. They are not bound to any conglomerate that requires substantial capital. This freedom is their advantage.

That’s why we strongly support them. They always bring something new and different, whether in their creative approach, marketing, positioning, or innovation in teams and craftsmanship.

Why Create the Horology Forum?

The Horology Forum is an essential part of Dubai Watch Week, focusing on education. Hind Seddiqi explained, “It’s an open educational platform aimed at both watch enthusiasts and non-enthusiasts.”

She shared with Luxe.CO the origins and purpose of the Horology Forum:

“We realized that there was a lack of communication among industry professionals. They face similar issues but don’t often talk to each other. So, we decided to bring these CEOs together to discuss the challenges we hear about in the industry. That’s how the Horology Forum was born.

The theme of the first Horology Forum centered on sharing knowledge related to watchmaking. We noticed that there were many more topics within the watch industry that needed systematic, productive discussions.

Year after year, we also began inviting experts from outside the watch industry, as sometimes other fields have valuable insights that can benefit watchmaking. This is why we started bringing in specialists from sectors like the automotive and art industries to discuss different themes.”

As a highlight of this year’s Horology Forum (HF.10), Wristcheck curated a watch exhibition showcasing a range of exquisite timepieces, exploring and celebrating the art of fine watchmaking.

Expanding Global Influence

Where there is wealth and growth, luxury watches are often present—a silent rule in the luxury watch industry that Dubai naturally fits. Dubai is one of the world’s top destinations for luxury shopping, attracting affluent visitors and a culture that appreciates valuable possessions.

This background adds a unique dimension to Dubai’s watch market. As the city’s resident population continues to evolve, people’s understanding and appreciation of watches are also deepening, creating a market that is both diverse and insightful.

Originating in one of the world’s most culturally diverse cities, Dubai Watch Week is now expanding to more international cities. This development reflects the event’s educational value, surpassing commercial aims, and proves its influence extends far beyond the Middle East.

The 10th Horology Forum was held at The Henderson, Christie’s Asia Pacific Headquarters, in Hong Kong.

This year marked the first time that Dubai Watch Week’s Horology Forum took place in Hong Kong, representing the third time the event has moved beyond Dubai, with previous editions held in London (2018) and New York (2022).

Explaining why Hong Kong was chosen as the first stop in Asia, Hind Seddiqi told Luxe.CO, “Hong Kong has a solid foundation and keen interest in watches. The city boasts a vast community of watch enthusiasts and collectors, and this community is continually growing, from seasoned aficionados to future young collectors. Hong Kong has also been a vital market for vintage and pre-owned watches.”

Hind Seddiqi further shared that her visit to Hong Kong aimed to better understand Asian watch collectors and watchmakers. “Over the past two days, I’ve discovered many Asian brands I hadn’t known before. I’m intrigued by them and would be happy to bring them to Dubai.”

During her opening remarks at the tenth Horology Forum, Hind Seddiqi announced that the 2025 Dubai Watch Week would take place from November 19 to 23 at Burj Park, Dubai Mall. This new venue will double the event’s space to 200,000 square feet, marking a significant expansion.

Additionally, Hind Seddiqi officially launched the new “Dubai Watch Week x Grail Watch Design Competition,” inviting top watch designers from around the world to participate. The winner will be announced during the 2025 Dubai Watch Week.

The 2025 Dubai Watch Week will return at Burj Park, Dubai Mall.

What Topics Were Discussed at the 10th Horology Forum?

The three-day Horology Forum (HF.10) presented seven compelling discussions. Luxe.CO attended the forum in person, listening to industry experts express bold ideas and demonstrate innovative thinking. Below, we’ve selected a few thought-provoking topics to share with our readers.

— Has the Era of Mechanical Innovation Ended?

Freelance writer Robin Swithinbank led a discussion with panelists exploring themes like “mechanical innovation” and their predictions for the industry over the next decade.

Singapore-based freelance writer and founder of the watch media platform SJX Watches, Jiaxian Su, shared, “The industry is heading in a positive direction. At the entry-level market, there’s a clear polarization, with improved products available at more affordable prices. Only a few brands can produce high-quality watches at scale that are affordable to the public. Over time, we’ll see brands in the entry-level range drop further below a retail price of 3,000 Swiss Francs.”

In the high-end market, there’s virtually no price limit, as brands are selling a story, an imagination, and craftsmanship. These brands can do interesting things on a smaller scale, and this trend will continue.”

He forecasted, “The high-end market will see many new brands emerge, while many existing brands may disappear. Mechanical innovation and complex functions will be boundless. Within the next ten years, the watch market will complete a full cycle. We are currently in a downturn, but in ten years, it will rise again. By then, you’ll see the most groundbreaking things in watchmaking. People will invent unimaginable creations and charge unimaginable prices—it will be an exciting time.”

— What Are the Opportunities and Challenges in Asian Watchmaking?

Asian watchmaking often goes underappreciated in the industry, and its achievements have sometimes been underestimated. Renowned independent watch critic Carson Chan noted, “When we talk about Asian watchmaking, we often treat it as something new. But in fact, it has existed for a long time.”

What changes are happening in Asian watchmaking today? With more Asian brands emerging, what opportunities and challenges are they facing? Carson Chan and the panelists delved into these questions.

Jill Chen, Vice President and Deputy Head of Watches at Christie’s Asia Pacific, observed that demand for Asian watchmaking is growing in the auction market. In recent years, each season has featured works by Asian brands, such as China’s Kiu Tai Yu and Japan’s HAJIME.

Robin Tallendier, co-founder of the Chinese watch brand Atelier Wen, commented, “There are no pre-established rules for creating a brand in China, which is both challenging and exciting. In fact, the quality of China’s supply chain is quite high.”

Johnathan Chan, co-founder of the collector community The Horology Club, noted that the global reputation of Asian brands is rising, specifically mentioning CIGA Design, the first Chinese brand to win a GPHG award. He also observed a shift from imitation to innovation in Asian watchmaking, as seen in Behrens’ breakthroughs with in-house movements.

Regarding challenges, Johnathan Chan added that while Asian watchmaking is exciting, it still needs to find a unique identity and design philosophy.

Robin Tallendier expressed optimism for the future of Chinese and Asian watchmaking. “New brands, watchmakers, and artisans are emerging in China and gaining global recognition. I believe there will be a strong rise in the future, and stereotypes will eventually disappear.”


— What Are the Differences in Collecting Preferences Among Consumers in Various Markets?

The secondary market holds endless allure. This discussion, moderated by Austen Chu, founder of the watch trading platform Wristcheck, provided insights into the evolving trends in the secondary market.

Austen Chu observed, “At least five or six years ago, consumers in the Greater China region were reluctant to purchase pre-owned or vintage watches, perceiving them as old. But now, that stigma has disappeared.”

The panel also discussed the differing preferences of consumers in various markets. Ali Nael, founder of the Singapore auction house FutureGrail, commented, “American consumers are quick to adapt their collecting habits and can pivot with trends, and they’re just as likely to sell off items when a new trend emerges.” Austen Chu agreed, noting, “Compared to Asia, there are far fewer long-term collectors in the U.S. due to the wider variety of demands.”

Mark Cho of men’s clothing brand The Armoury offered advice for new collectors: “If you’re just getting into collecting, I think you should learn not to hesitate too long and to be a bit freer with your spending.”

— How to Create a Watch Brand in 60 Minutes?

One of the highlights of this year’s forum was the debut of the “Relay Workshop.” Wei Koh, founder of the watch magazine Revolution, joined Bertrand Meylan from H. Moser & Cie., and experts Fiona Kruger and Suzanne Wong in a collaborative exercise to create a new brand in 60 minutes. Through this brand-building exercise, they aimed to address unmet needs in niche markets.

The newly conceived brand, named Junk Watch, draws inspiration from sustainability and Hong Kong’s iconic boats, with the slogan “Made from Junk, Transformed by Passion.” They sketched out a skeleton for Junk Watch’s first model, featuring an asymmetric case, jump hour, and retrograde minute display. The team emphasized a commitment to using sustainable materials, aiming to innovate with various materials.

Conclusion

In the field of fine watchmaking, the key to attracting and retaining clients lies in education and knowledge sharing. Hind Seddiqi and her family are firm believers in this principle, and their passion for watches led to the creation of Dubai Watch Week and the Horology Forum.

While Dubai Watch Week is certainly about watches, it emphasizes the connection between watches and people even more through the Horology Forum, creating a welcoming environment to share a deeper understanding of watch culture.

After experiencing the Horology Forum firsthand, we felt that industry forums should remain open; if they are too insular, they risk becoming “echo chambers” for insiders. Only through open discussions and the clash of diverse perspectives can true sparks of innovation emerge.

We also spoke with several industry attendees who expressed their admiration for Dubai Watch Week and the Horology Forum. “Relaxed atmosphere, efficient networking, and in-depth conversations” were almost unanimously mentioned. Such feedback underscores the significance of the event itself and highlights Dubai Watch Week’s efforts in fostering global watch culture exchange.

The practices of Dubai Watch Week and the Horology Forum offer a direction for the future of industry events: while watches or products remain the focal point, these events can also feature unique and engaging content, appealing strongly to both the industry and consumers.

| Image Credit: Dubai Watch Week

| Editor: Elisa