The watch industry seems pretty straightforward, but international startup Greyhours is aiming to disrupt the 'non-transparent' industry and has even made watched for Brad Pitt and Pierce Brosnan.
The four entrepreneurs - three French and one Swiss - pooled their Swiss watchmaking knowledge to come up with a brand that focuses on being 'an independent and disruptive watchmaker not bound by any rules.'
'We build real watches, not hype,' co-founder Emrah Yuceer tells UK Business Forums. He adds that the company's aim is to bring beautiful, ethical and affordable watches to everyone - not just those who can afford to pay hyped-up prices.
We spoke to the online-only business to see how they're trying to disrupt a fairly traditional industry.
We look at the world that's fairly unequal, shady at times and where people live their daily lives in a way that doesn't give them the chance to access real or truthful information. We thought it was very unfair from almost all watch brands to sell their watches from 10 to 20 times what it cost them to manufacture. We wanted to change that and be very transparent.
The motto was to create something beautiful but affordable and that could be purchased by most, that was the most important, to give access to rare materials to as many people as possible.
So they talk about it, a lot. We also started doing some Facebook Ad campaigns.
Our customer base is mainly in the UK, USA and Korea.
As we have the chance to have an online business, we travel a lot together and discover new cities to work with.
A few months ago for example we rented a huge Airbnb flat in Berlin and decided to work all together from there, it was a great experience. So we're very close to each other and are all aged from 29 to 32 so we share similar experiences.
The materials we use are just amazing and you won't find any other watch brand using them at less than 10 times what our watch costs.
And that's because it's an old industry with many middlemen, it was built on that but we can change it with online retailing and that's what we're doing.
Find your market. We believe that every product has a market and the trick is to survive until you find it.
The agents showed our brand to these VIPs and they liked the brand and wanted to wear one so it was not that complicated, our brand really appeals to people already wearing luxury watches and willing to acquire something as well made but that can resist to day-to-day wear
The combination of our experience in watchmaking meant we were able to find the best partners in China to support our quest for excellence. With this expertise, we were able to set up our manufacturing here to easily match European standards.
We pass on the savings that we make directly onto our customers, who are able to enjoy our premium time-pieces at a value price point as a result.
So there you have it - even something as traditional as the watchmaking industry can be shaken by a small business. We'll be following Greyhours' progress; but what do you think of the watch brand? What industry would you switch up? (Login or sign in to comment).
The four entrepreneurs - three French and one Swiss - pooled their Swiss watchmaking knowledge to come up with a brand that focuses on being 'an independent and disruptive watchmaker not bound by any rules.'
'We build real watches, not hype,' co-founder Emrah Yuceer tells UK Business Forums. He adds that the company's aim is to bring beautiful, ethical and affordable watches to everyone - not just those who can afford to pay hyped-up prices.
We spoke to the online-only business to see how they're trying to disrupt a fairly traditional industry.
1. Why did you start Greyhours?
All four of us dreamt of showcasing beautiful materials and Bauhaus design in an item that you could look at daily, so what better than a watch, we thought.We look at the world that's fairly unequal, shady at times and where people live their daily lives in a way that doesn't give them the chance to access real or truthful information. We thought it was very unfair from almost all watch brands to sell their watches from 10 to 20 times what it cost them to manufacture. We wanted to change that and be very transparent.
The motto was to create something beautiful but affordable and that could be purchased by most, that was the most important, to give access to rare materials to as many people as possible.
2. What kind of funding do you receive?
The company is self-funded. We did not receive any funding and invested our own funds to the company.3. What kind of marketing do you do?
It's mainly word of mouth. When customers receive a Greyhours watch that they paid $250 for and compare it to the other watches they owned in the same price range, they are absolutely stunned.So they talk about it, a lot. We also started doing some Facebook Ad campaigns.
Our customer base is mainly in the UK, USA and Korea.
4. Do you have a mentor? What's your team like?
We don't have any mentor. What's amazing about this team is that we are all self-made so we teach each other about various things and help each other a lot.As we have the chance to have an online business, we travel a lot together and discover new cities to work with.
A few months ago for example we rented a huge Airbnb flat in Berlin and decided to work all together from there, it was a great experience. So we're very close to each other and are all aged from 29 to 32 so we share similar experiences.
5. What problem do you aim to solve and where do you want to be?
We want to disrupt the industry. We want to prove to the consumers that you can own a real luxury watch and not just buy the marketing term without anything to back it.The materials we use are just amazing and you won't find any other watch brand using them at less than 10 times what our watch costs.
And that's because it's an old industry with many middlemen, it was built on that but we can change it with online retailing and that's what we're doing.
Find your market. We believe that every product has a market and the trick is to survive until you find it.
6. How did you get make watches for such high-profile celebs?
We got in touch with the celebrities through shared connections of their agents and I guess the brand talked to them. We have a real motto and a goal and that became our passion, so the brand is built on top of something real that people can feel.The agents showed our brand to these VIPs and they liked the brand and wanted to wear one so it was not that complicated, our brand really appeals to people already wearing luxury watches and willing to acquire something as well made but that can resist to day-to-day wear
7. How do you make your watches affordable?
We are 100% transparent about where our products are made in sharp contrast to many in the watch market and the fashion industry in general.The combination of our experience in watchmaking meant we were able to find the best partners in China to support our quest for excellence. With this expertise, we were able to set up our manufacturing here to easily match European standards.
We pass on the savings that we make directly onto our customers, who are able to enjoy our premium time-pieces at a value price point as a result.
So there you have it - even something as traditional as the watchmaking industry can be shaken by a small business. We'll be following Greyhours' progress; but what do you think of the watch brand? What industry would you switch up? (Login or sign in to comment).
