In a seismic shift for the horology world, Hodinkee, one of the most influential online platforms dedicated to watches – or at least the one with the most traffic, was recently acquired by Watches of Switzerland, one of the largest luxury watch retailer globally. This acquisition marks a significant turning point for both the watch industry and watch media, reflecting a broader trend in which watch blogs and media platforms are being absorbed by retail giants and external players. As enthusiasts and collectors witness these changes, the question arises: What does this mean for the future of watch media, and how will it reshape the relationship between content creation and retail?

Hodinkee: a success story which lost its momentum by expanding its focus

Ben Clymer, the founder of Hodinkee, can be credited with being a real watch aficionado. But Ben didn’t create Hodinkee only to enlighten the watch world with his wisdom. Coming from the banking world, he had perfectly understood that there was an opportunity to be seized by creating a media with a fresher and younger voice. His plan was very simple, first creating a huge audience with unbiased coverage of the watch world on products, players and their challenges.

Once he had achieved that he went on to monetize his audience by selling accessories, such as bracelets, online or through pop-up collaborations. The next move was to start collaborating with brands on limited editions sold exclusively on his website. Next, he extended those collaborations to picking a curated selection of the brands’ products. This strategy of “cherry picking” the best sellers of each brand, and not having the disadvantage that the brands’ official retailers had of carrying the whole collection and the inventory linked to it, became very beneficial to Hodinkee’s bottom line with substantially higher margins.

But then Ben did a major mistake by acquiring a secondary market actor, Crown & Caliber, which was clearly a stretch between a core business of producing content and occasionally collaborating on limited edition timepieces and running a business which is very much about handling logistics more than anything else. It is a low margin business where operational efficiency is the key success factor. Unlike a watch brand where your EBIT margin should be in the mid 20% range, on the secondary market you are rather in the lower one digit margins and at risk of fraud and slow moving stocks if you decided to take on inventories to be more reactive to demand. On the other hand Hodinkee was more successful with offering ancillary services such as insurances.

After reselling Crown & Caliber, probably at a substantial loss compared to the price paid, Hodinkee has tried to refocus its activities on its core activity and Ben Clymer has taken up a more active position in the company.

A Retail Giant’s Foray into Watch Media

Founded in 2008, Hodinkee quickly rose to prominence as a trusted source of watch journalism, known for its deep dives into vintage timepieces, brand histories, and horological storytelling. More than just a blog, Hodinkee became a powerful tastemaker, shaping buying trends, educating collectors, and even venturing into watch retail through exclusive collaborations and an e-commerce platform.

I remember meeting Ben Clymer the first time at Baselworld in 2011, when I was managing a fine one-year old project called Laurent Ferrier. Ben was then walking around and taking the pictures himself, he was shy and polite asking if he could see and photograph Laurent’s timepieces. He managed to bring Hodinkee’s brand and product reviews in his own voice which was very unusual back then and logically his journey to glory started there. The style of Hodinkee was probably very much inspired by publications like Monocle which feature the nice things of life, with Hodinkee chosing to focus on the one topic of watches.

The Hodinkee acquisition by Watches of Switzerland represents a strategic move. As one of the world’s largest retailer of luxury watches, Watches of Switzerland has a massive global footprint, with monobrand boutiques and multibrand outlets in the UK and the US, but having had to retreat from Europe. The group also has close partnerships with some of the most prestigious watch brands, the biggest by far being Rolex accounting close to 60% of Watches of Switzerland’s sales. By bringing Hodinkee under its umbrella, the retailer not only gains access to one of the most engaged and influential watch communities but also positions itself to capitalize on the increasingly blurred lines between watch media and retail.

The Consequences of Media-Industry Convergence

This acquisition underscores a broader trend in the watch world: the convergence of media and retail. Traditionally, watch blogs operated independently, serving as impartial commentators on the industry, while retailers focused solely on sales. But in recent years, we’ve seen a growing number of media platforms being absorbed by players outside the media industry or doing what Hodinkee has tried to do by diversifying their business model outside of content creation. This phenomenon raises critical questions about editorial independence and the future of watch journalism.

The integration of Hodinkee into Watches of Switzerland’s retail empire could have significant consequences for how watch-related content is produced and consumed. As a retail-owned platform, Hodinkee may face increased pressure to align its editorial strategy with the interests of its parent company. While Hodinkee has long maintained a delicate balance between editorial content and commerce, this new relationship could potentially shift the focus towards promoting Watches of Switzerland’s inventory and brand partnerships, limiting the scope of independent criticism or reviews.

Obviously the Hodinkee acquisition also presents opportunities for synergy. Watches of Switzerland now has direct access to Hodinkee’s engaged audience of watch collectors and enthusiasts, enabling it to foster deeper connections between content and commerce. We may see a rise in integrated marketing campaigns, exclusive product releases, and brand partnerships that leverage Hodinkee’s storytelling prowess to drive sales. The challenge, though, will be maintaining Hodinkee’s credibility and authenticity as a trusted voice in the horology world, while navigating the complexities of its new corporate ownership.

This phenomenon raises critical questions about editorial independence and the future of watch journalism.

A Growing Trend: Media Acquisitions in the Watch Industry

The Hodinkee acquisition is not an isolated case. In fact, the watch industry has seen several instances of media platforms being acquired or financed by external players, especially retail-driven entities. For example, Teddy Baldassarre, a popular YouTube creator and watch enthusiast, has developed close ties with various brands and external players, further blurring the lines between media and commercial interests. Baldassarre’s channel has become a go-to source for reviews, insights, and buying guides, but his collaborations with outside companies indicate a shift towards a more commercially driven media landscape in the watch world.

Meanwhile, it has also been rumored that Watches by SJX is financed by The Hour Glass Group, a Singapore-based luxury watch retailer with significant influence across Southeast Asia.

At The 1916 Company, formerly known as WatchBox, content and commerce has also converged. Their YouTube channel and blog are helmed by industry veterans Tim Mosso and Jack Forster. Both well-known figures in the watch community are openly linked to the commercial activities of the company. One can question the topics and the angles taken if you know that the same website does its e-commerce, despite an unquestionable quality of coverage especially by Jack Forster, one of the most prolific watch journalists overall.

Fratello is another watch blog controlled by an actor of the watch industry, in this case the leading online platform for the secondary market, Chrono 24. Both parties have openly communicated about the ownership. The proximity with Omega is obvious, but interestingly this creates rather a positive sense of fandom than commercial incentive.

The Impact on Independent Watch Journalism

This trend of media acquisitions and alliances raises important questions about the future of independent watch journalism. As more watch blogs and platforms are absorbed by retailers or financed by external players, the risk of editorial bias increases. While collaborations and acquisitions can offer benefits such as better resources, larger audiences, and access to exclusive content, they can also compromise the objectivity that has historically defined the best watch media outlets.

For independent collectors and enthusiasts, this convergence can be concerning. The authenticity and impartiality of watch reviews, industry analysis, and brand stories may be diluted by the influence of corporate interests. At the same time, these changes also reflect the evolving nature of the watch industry, where content creation and commerce are becoming increasingly intertwined.

However, there are still opportunities for independent voices to thrive. Platforms that manage to maintain their editorial independence while navigating these new corporate landscapes will likely be rewarded with loyal followings of collectors who value unbiased content. Furthermore, as the watch industry continues to grow, there will be space for both large, retailer-owned platforms like Hodinkee and smaller, independent voices that can cater to niche audiences.

Hopefully the future will offer more choices than commercially driven outlets or trash talking TikTok or YouTube hooligans

The main concern for the future is what will be left of independent coverage of the industry, its products and the players animating it. I sincerely hope that watch aficionados won’t have to make a choice between biased product reviews and some trash talking TikTok and Youtube channels reviewing and commenting brands and their products. The less literate they are on watches, the louder and sometimes more harmful they are. People not understanding how much energy, time and passion it takes to create timepieces are sometimes very harsh with those who don’t deserve to be bashed. I’m not going to name and shame those players to avoid shedding more light on negative voices which are not contributing a dime to the success of the watch business.

Luckily, they are still people around with the knowledge and foremost the respect to cover launches of the new brands and products, both online and offline. There is still a huge interest for product reviews, background stories on brands and people making them and industry analysis, but all those topics need to be managed professionally and not by people comparing a China made USD100 watch with a Rolex and claiming that the latter is a fraud because it’s priced a lot higher.

A New Era for Watch Media?

The Hodinkee acquisition by Watches of Switzerland is a landmark moment in the watch industry, signaling a new era in which the lines between media and retail are becoming increasingly blurred. While this trend may offer new opportunities for synergy and growth, it also presents challenges regarding editorial independence and the authenticity of watch journalism.

As we move forward, it will be fascinating to see how these media platforms navigate their new roles within the retail ecosystem. Will they be able to maintain the trust of their audiences, or will the pressures of corporate ownership steer them in a more commercially driven direction? One thing, however, is certain: the relationship between watch media and retail will never be the same, and we are witnessing the dawn of a new chapter in the world of horology.