"The More Expensive, the Better It Sells"... Koreans Sweep Up Billion-Won Watches and Luxury Jewelry [Luxury World]

4,000 pieces per year... H. Moser & Cie., the billion-won high-end watch
Koreans sweep up watches and jewelry... 30% sales surge

More than 100 artisans craft each piece by hand, stitch by stitch. The brand's maximum annual production is limited to just 4,000 pieces. This is the story of H. Moser & Cie., the highest-end Swiss watch brand operated by MELB Holdings, owned by the Swiss Meylan family.

H. Moser & Cie., one of the world's most prestigious luxury watch brands, has entered the Korean market. The brand opened its doors on May 14 at the Galleria Department Store Luxury Hall in Apgujeong-dong, Gangnam-gu, Seoul. H. Moser & Cie. is an independent Swiss watch brand headquartered in Switzerland. It is not part of the global "big three" watch groups (Richemont Group, Swatch Group, Louis Vuitton Moet Hennessy (LVMH) Group) and boasts a history of over 200 years.

H. Moser & Cie. is currently present in more than 40 markets. However, there are only five standalone boutiques: in Shanghai, Beijing, Hong Kong, Menlo Park in California (Silicon Valley), and the Galleria Department Store Luxury Hall in Korea.

Jacob&Co brooch worn by G-Dragon.

4,000 pieces a year... H. Moser & Cie., the billion-won high-end watch

Every product sold by H. Moser & Cie. is handcrafted. The company manufactures its own movements, known as the "heart of the watch," with around 20 different types. Core movement components such as hairsprings and escapements are also produced by its subsidiaries and supplied to other watch brands.

The "hairspring," as thin as a strand of hair, is a component that ensures precise timekeeping. The "escapement" is a part that regulates the flow of time. Both components require sensitive and highly precise technology, so only top-tier watch brands produce these parts in-house. Even among ultra-high-end brands, only the top models use in-house hairsprings, while other models use outsourced components.

The biggest difference from other brands is the simplicity of the design. H. Moser & Cie. omits the logo from the front of the watch, placing it only on the back, reflecting the brand's confidence to "let the watch itself speak." Major product lines include the Streamliner, Endeavour, Pioneer, and Heritage. Some models even remove the dial entirely.

To commemorate its entry into the Korean market, H. Moser & Cie. unveiled one piece of the "Streamliner Tourbillon Skeleton Boutique Edition," of which only 17 pieces were made worldwide. This product is crafted from 18-carat gold. It features a skeleton design that reveals the movement from the outside. The tourbillon, designed to correct gravitational error, and other components appear to float in mid-air.

True to its slogan "VERY RARE," the brand produces a maximum of about 4,000 watches per year. This is fewer than the annual production of the three major luxury watch brands: Patek Philippe (70,000), Audemars Piguet (40,000), and A. Lange & S?hne (5,000). Prices range from around 10 million won to 150 million won.

Mojeoandssi has 120 employees and produces 4,000 products annually. Provided by Mojeoandssi.

CEO Edouard Meylan explained, "Unlike brands operated by large groups, we are watchmakers with tradition," and added, "With Korea's growing influence in the luxury watch market, now is the perfect time to enter the Korean market."

Koreans sweep up watches and jewelry... 30% sales surge

In Korea, global high-end watch and jewelry brands are fiercely competing. Jacob&Co, a high-end watch and jewelry brand known as the "G-Dragon watch," opened its first store on Dosan-daero in Gangnam on February 24. Jacob&Co was founded by designer Jacob Arabo. The brand has collaborated with supercar maker Bugatti, Paramount Pictures, and Balenciaga, presenting unique designs. Recently, G-Dragon drew attention by wearing Jacob&Co watches and jewelry (rings) worth several billion won.

Consumption of the most expensive luxury watches and jewelry brands is also surging. Although the luxury consumption growth rate has slowed due to the economic downturn, the sales growth rate for watches and jewelry at major domestic department stores remains in the double digits. According to Lotte Department Store, sales in the watch and jewelry segment have increased by about 30% year-on-year so far this year. Both Shinsegae Department Store and Hyundai Department Store recorded growth rates of 34.4% and 35%, respectively, far surpassing last year's annual growth rates.

Oh Dongjun, head of Damiani Group Korea, analyzed, "In the past, purchases were focused on fashion and bags, but recently, the consumption trend has shifted to jewelry and watches," and added, "More people are choosing to buy jewelry and watches, which can be worn at any time, rather than bags or fashion products, which are frequently released as new items and lose value quickly." Damiani Group operates the distribution channel "Roca," based on strategic collaborations with Swiss high-end watch brands, in addition to the Italian jewelry brand "Damiani." The group targets high-income customers with high-end products.

Department stores are also actively attracting high-end jewelry and watch brands in response to this demand. Galleria Department Store has expanded its watch and jewelry stores, previously located on the basement, first, and second floors of the Luxury Hall East, to the first floor of the West Hall. Last year, it brought in the German luxury jewelry brand "Acredo" and the Italian luxury jewelry brand "Fopec." The German jewelry brand "Wellendorff" also opened its first store in Korea. Lotte Department Store is also increasing the presence of high-end jewelry brands, especially at its main branch. In March, it opened luxury jewelry brands "Van Cleef & Arpels" and "Graff" on the first floor of its main store.