WatchUSeek Watch Forums banner
1 - 20 of 22 Posts

·
Registered
Joined
·
10,066 Posts
Sad to hear. It's seems like luxury goods are either doing really well in the pandemic or rather poorly.

Wiki says this:

"HYT filed for bankruptcy in March 2021 after pressure from the Covid-19 crisis and the influence of pompous internet watch gurus such as TGV, Paul Pluta, and Mike Braykovich aka "Bear Clooney" led to a steady downturn in sales."
 
  • Like
Reactions: lehippi and JJ312

·
Registered
Joined
·
38,990 Posts
Always was a very niche brand, so as such is gonna be on sticky ground in a poor economic climate, when it has a very limited customer base.
 

·
Registered
Joined
·
1,912 Posts
Yeah it's probably good timing considering they can blame low sales volume on the pandemic. Rolex, Patek and AP are all but sold out all in the same year, but you know...
But how much of that is the appeal of the watches, and how much is the belief that the watches are good places to hold a bit of funds to guard against inflation?
 

·
Premium Member
Something ordinary
Joined
·
19,399 Posts
Considering the likely high cost of engineeringing/R&D at a company like that, I am not surprised.

Based on the statement about shareholders and capital in the OP, I would not be surprised to see them re-emerge after everything settles
 

·
Registered
Joined
·
1,912 Posts
Considering the likely high cost of engineeringing/R&D at a company like that, I am not surprised.

Based on the statement about shareholders and capital in the OP, I would not be surprised to see them re-emerge after everything settles
I hope that whoever restructures the company can put some development into making the watches lighter. I don't mind large but the HYTs I tried on were borderline comically heavy, presumably because of the large movement and thick, domed crystal.
 
  • Like
Reactions: Mediocre

·
Premium Member
Something ordinary
Joined
·
19,399 Posts
I hope that whoever restructures the company can put some development into making the watches lighter. I don't mind large but the HYTs I tried on were borderline comically heavy, presumably because of the large movement and thick, domed crystal.
I never bothered trying one on. Not just because of the price, but the size. They are impressive technological marvels, but they are still large by most watch standards
 

·
Registered
testing testing something pizza
Joined
·
25,365 Posts
But how much of that is the appeal of the watches, and how much is the belief that the watches are good places to hold a bit of funds to guard against inflation?
I think there's a third belief, and that's thinking that only those few brands are stable enough to survive the next fifty-ish years and will be around to support the watches you can buy today. I don't feel like much of the buying public, even in this range, are buying to flip (Dogecoin has far better returns than a blue Nautilus), but instead, are buying to keep. And I wouldn't be keen on buying a brand that I fear might go under soon.
 

·
Registered
Joined
·
6,148 Posts
Saw it yesterday on FB. Vincent Perriard’s LinkedIn doesn’t even show any of his past employers (AP, Swatch, Concord, Technomarine, HYT, etc) and only shows his current venture. It shows early 2020 as his exit time. A shame because they were innovators.
 

·
Registered
Joined
·
1,912 Posts
I think there's a third belief, and that's thinking that only those few brands are stable enough to survive the next fifty-ish years and will be around to support the watches you can buy today. I don't feel like much of the buying public, even in this range, are buying to flip (Dogecoin has far better returns than a blue Nautilus), but instead, are buying to keep. And I wouldn't be keen on buying a brand that I fear might go under soon.
Lower returns and also lower volatility. My guess is that fewer people care about what's going to happen in 50 years than those who want a place to park a bit of money for a few years. And people 100% invest using steel sports watches. I know people who have a part of their portfolio in ~10 Rolex's.

And of course the gold Rolex and Patek still sit on shelves...
 

·
Registered
Joined
·
1,912 Posts
I never bothered trying one on. Not just because of the price, but the size. They are impressive technological marvels, but they are still large by most watch standards
I do feel like when you buy a brand like HYT part of the point is the visibility. You're wearing a technological tour de force, and you don't care about what anyone else thinks. There are a lot of other indies for discreetness.
 

·
Registered
Joined
·
2,582 Posts
not to be insensitive - wonder if this will impact some of their prices
 

·
Registered
Joined
·
6,148 Posts
I believe Romain Jerome also filed for bankruptcy just last month. Fringe Haute Horology brands seem to be having a bit of a tough go as of late
 

·
Registered
Joined
·
398 Posts
But how much of that is the appeal of the watches, and how much is the belief that the watches are good places to hold a bit of funds to guard against inflation?
True and Point taken, but probably less than we think. Most people, myself included, don't buy watches for financial hedges on our personal portfolios. Gold/silver, bonds, real estate and now Crypto is where most of that is going.
 

·
Registered
Joined
·
1,233 Posts
I'm surprised they didn't file for bankruptcy sooner. The market for goofy looking $50k+ watches has to be incredibly tiny. A fraction of a percent of even watch collectors let alone the general population.

MB&F is probably not far behind.
 

·
Registered
Joined
·
166 Posts
Bump- curious about any update with HYT. Love the brand, huge innovators, but they need smaller watches and smaller prices to be successful imo. I'm sure the watches are big because the tech can't be made much smaller, but a boy can dream.

I'm surprised they didn't file for bankruptcy sooner. The market for goofy looking $50k+ watches has to be incredibly tiny. A fraction of a percent of even watch collectors let alone the general population.

MB&F is probably not far behind.
Negative. Just talked to someone at Cellini who said they're sold out for the next couple of years for their top models (LM101), plus the Max Büsser interview where he talks about how he now needs to scale his company up to meet demand, despite his desire to stay small.
 

·
Registered
Joined
·
2,214 Posts
dan360 wonders out loud if their legal counsel charges exorbitant rates and leaks green stuff all over the conference table...
 
1 - 20 of 22 Posts
Top