Franck Muller, Grand Seiko and Rolex expand despite global sales slump

“We don’t depend on banks, we are strong financially and that helps us to remain creative in these difficult times,” Rudaz says. “We are steadily working to elevate the average price point by introducing more high-complication and high-jewellery pieces, reinforcing the value of our watchmaking and gem-setting expertise.”

Swiss brand Franck Muller is considered an enfant terrible of the watch world, with the hour hands on their Crazy Hours watch snapping erratically across the polished face to tell the time. A collaboration with Japanese streetwear brand #FR2, it features rabbits in a position more compromising than a couple caught on a kiss-cam at a Coldplay concert.

The watches are aimed at big-spending locals rather than cashed-up tourists.

“Compared to more mature South-East Asian markets like Singapore or Thailand, where high tourist volumes tend to drive sales strongly alongside locals, Australia’s luxury watch market is more reliant on domestic clientele. We are focused on steadily building brand awareness and cultivating a loyal local customer base.”

That cultivation comes with sumptuous stores with splashes of gold and deep velvet, designed to make customers feel comfortable wearing their wages on their wrists.

The new Chanel boutique features a chandelier from Paris artisans Goossens. Grand Seiko’s flagship has a private bar serving Japanese whisky.

“We want people to leave feeling enchanté,” Rudaz says. “With something beautiful on their wrist.”

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