IWC bets on ‘quiet luxury’ with Wuxi pop-up

What happened On November 1, IWC Schaffhausen launched its “Engineering Eternity” themed exhibition at Wuxi’s Hang Lung Plaza, celebrating the brand’s dedication to engineering and design aesthetics that prioritize function. Known for its precision engineering, IWC used the event to showcase flagship collections like the Ingenieur, Portugieser, Pilot, and Portofino series, along with more intricate timepieces. The monochrome black-and-white exhibition layout mirrors IWC’s minimalist design ethos, creating a space where watch enthusiasts can explore the marque’s heritage and understand the evolution of its engineering principles. The exhibit, open to the public until November 10, invites attendees to experience the history of IWC’s Ingenieur series and appreciate timepieces designed for functionality and form. The new Ingenieur Automatic 40 model, influenced by designer Gérald Genta’s Ingenieur SL from the 1970s, merges the iconic aesthetic with modern ergonomic improvements. It features a bezel fastened by five polygonal screws, enhancing its mechanical integrity, and a “grid” pattern on the dial for added texture. The watch also incorporates a redesigned link system for an improved fit on the wrist, balancing aesthetics with wearability. Complementing the Ingenieur, IWC has introduced four new models in the Portugieser series, each inspired by nature’s cyclical rhythms, with unique colorways like Horizon Blue, Dune Gold, Obsidian Black, and Silver Moon. These timepieces emphasize the meticulous craftsmanship of the brand, with a dial construction involving 15 layers of varnish polished to a high gloss for a distinctly rich finish. The Jing Take This exhibition underlines IWC Schaffhausen’s strategic positioning in China’s luxury market as it enters a critical period. With Swiss watch exports experiencing a 3.3% decline YoY in the first half of 2024, thanks partly to a 21.6% drop in exports to mainland China, IWC’s initiative signals a crucial pivot toward deepening consumer engagement through immersive experiences. Luxury watch brands are facing a shift in Chinese consumer behavior due to macroeconomic factors like a real estate slowdown and fluctuating consumer confidence. Thus, these experiential exhibitions play a dual role: they reinforce brand heritage and craftsmanship and subtly cater to the “quiet luxury” preferences emerging among affluent Chinese millennials and Gen Zers, who increasingly value authenticity over overt displays of wealth. The Wuxi exhibition is timely, coinciding with a decelerating Chinese luxury market where high-net-worth individuals are leaning towards less conspicuous consumption. For Swiss watchmakers, IWC included, re-engaging with the local market is essential, particularly as more Chinese consumers are opting to make luxury purchases abroad, capitalizing on favorable currency exchange rates in Japan and Europe. IWC’s approach, emphasizing refined engineering and timeless design, aligns well with this trend, appealing to a demographic that associates luxury with craftsmanship rather than extravagance. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

IWC bets on ‘quiet luxury’ with Wuxi pop-up

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Published November 04, 2024

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IWC bets on ‘quiet luxury’ with Wuxi pop-up