At the Dubai Burch Sublie Forum titled ‘When Labubi hits the Birkin: Luxury at George Bamford of Bamford London, Richard Benc and Misha Doud explored the tension between traditional luxury and modern culture.
“Hype is not a luxury,” said Duld, with a small program limited to a labin tied in his red Birrich Birkin sitting on his feet, “hype is aff – Can you get something at the right time because everyone wants it?”
This discussion comes as the Global Lulvery Watch market is worth $53.6 billion by 2024, hovering after the epidemic-time forecast that sees some models trading at 200 percent of sales before prices collapse.
Second-hand market prices for luxury watches fell nearly 1 percent in Q2 2024, according to Chrono24’s Chropulse Index. Vangeron Constantin dropped 6.31 percent 6.31 percent, Ponerai threw 6.04 percent 1.74 percent 1.74 percent.
The adjustment has forced the bands of the bands to reduce the lack of performance and limited drops – tactics borrowed from the Streetwears brands that have sent the results of the traditional guards.
KAMOFF’s P-Shock collaboration has shown both complaints and risks. The product sold out within 90 seconds of its launch but also led to a broken window, police intervention and the closure of London Street where crowds filled the venue.
“We had people sleeping outside beforehand,” said Bamford, comparing the incident to the Swatch x Omega Moononwatch launch which generated similar chaos.
Beck argued that the difference between hype and luxury lies in their foundations. “By definition, hype is about the buzz and excitement at a certain moment. The hype is the best experience – It’s about experience, freedom and creativity,” he said.
When Benncer started his brand with a limited production run, the shortage was due to capital problems rather than a marketing strategy.
“I didn’t have very deep pockets, so I couldn’t afford a lot of watches. You made them for want of artisinal skill, not for creativity.”
As his business took off, Beck adopted what he called the “Sliding Scale” approach, drawing from luxury food books and hype. “I’m trying to find that one left. I don’t want to be here today and gone tomorrow.”
The strategy reflects the broader industry potential. While offline stores command 66.82 percent of luxury watch sales in 2024, online channels are expected to grow by 7.01 percent cug in 2030, according to market research.
Social Media Platformations influence purchasing decisions, especially among millennials who represent a growing segment of both the primary and secondary markets. Labubu’s hype is living proof of the power of social media in generating demand. The growth of labubu was mainly driven by the endorsement of celebrities around the world and the blind box model with soothing videos on social media of unborsings.
Established manufacturers face challenges when implementing hype-driven strategies. Doud Cartier Cartier’s Tank Repeunction as a successful execution – generating cultural momentum while maintaining luxury authenticity. He compared this with products that follow viral conditions only to see the attention of consumers.
Bamford’s collaborations with heritage brands such as Giradry-Perregaux show another way, allowing established houses to “play outside their wall books and tell the stories of the Library in a different vein.” However, he warned against trespassing.
“If you lean too much in one direction, while the flow is good, it’s good but the hype can turn quickly.”
Professionals showed the first collaboration of mike for Dior
The secondary market for luxury watches reached $26.8 million in 2024 and is expected to hit $43.6 million in 2031, according to market research insights. Platforms like stockx and Chrono24 have limited access to limited releases while creating new ways to find value.
This growth has attracted speculation, with consumers viewing watches as investments rather than purchases. “People always ask: Should I buy this? This is the best thing right now. Is it worth something?” Doud said. “They’re trying to match the hype with the price.”
Recent corrections show this method carries a high risk. Products bought only to inform expectations are often expected.
Asia-Pacific accounted for 4011 percent of the Luxury Watches Market by 2024, with millennials representing significant growth. The new generation is accessing brand education through digital channels, including podcasts, Instagram accounts and online forums that were not available to previous consumers.
Bamford, who recently spoke about clocks at school, explained the complex understanding of horology. “Education is often because of the Internet. Information from the consumption of strips in the details of movements – they go, I like this product because of this.”
“We all jump on the hype in our own way,” Bamford said.
The luxury watch market is expected to reach $134.53 billion by 2032, according to Fortune Business Insights, suggesting continued growth despite recent fluctuations.
“Luxury is yours, yours and stays with you forever,” Dould said. “When something is hype, you fight to get your kids leeezys and then three seconds later, they’re thrown out the window.”
As brands navigate this area, experts suggest that the industry is moving towards integrated strategies that combine things in both ways rather than choosing one or the other.
