Michael Tay of The Hour Glass says upcoming event, IAMWATCH, is where watch nerds of the world will unite

From Oct 17 to Oct 20, IAMWATCH by The Hour Glass will see a gathering of independent and artisanal watchmakers, industry heavyweights, and watch aficionados in Singapore. We spoke to Michael Tay to learn how this platform aims to connect people through their shared love for horology.

The Hour Glass is set to shake up the horology scene with IAMWATCH, an intimate, four-day event that will bring together some of the industry's most prominent figures, aficionados, and enthusiasts under one roof to connect, share stories, and celebrate their passion for timepieces. This community-engagement platform is dedicated to the Pan-Asian watch-collecting community.

IAMWATCH builds on the success of the luxury watch retailer’s lauded 2004 event, Tempus – The Great Watchscapade, one of the first watch expositions. The first edition of IMWATCH will features over 40 of The Hour Glass’ industry friends, fireside chats, horological lectures and other community activations — all in a relaxed, laid-back setting. The break from the stiff, traditional format of watch fairs is perfectly encapsulated in the dress code of “Double-Wristed, Resort Casual”, in which guests are encouraged to ditch the formal suits and sport their favourite watches on both wrists

The event’s engaging line-up includes historian and author of About Time, David Rooney, who will delve into the evolution of timekeeping. Masterclasses led by the watch industry’s undisputed marketing legend Jean-Claude Biver, who rejuvenated some of the biggest watch brands like Hublot, Omega, and Blancpain, as well as Maximilian Busser, the visionary behind MB&F, will offer attendees a rare opportunity to gain insights into the minds of some of the most innovative leaders.

Another interesting session will feature Lee Yuen-Rapati – a multidisciplinary designer known for his expertise in watch design – talking about the often-overlooked importance of typography in timepieces. Meanwhile, the Comeback Kings’ panel of industry veterans Alain Silberstein, Franc Vila, and Manuel Emch, will share inspiring life lessons on resilience and reinvention in the demanding horology world.

We sat down with Michael Tay, group managing director of The Hour Glass, who explained his vision for IAMWATCH. He also shared his insights on why independent and artisanal watchmakers are gaining popularity among a younger audience, and the future of the watch industry.

What inspired you to create IAMWATCH as a new platform, and how does it differ from Tempus – The Great Watchscapade? 

When we decided to do Tempus – The Great Watchscapade, which was 20 years ago, we wanted an exhibition that differentiated itself by having a more 360 [degree] experience because all watch events at the time were primarily trade-facing. Tempus was the first of its kind in the world, where we got our partners to design hands-on engagement with movement assembly, dial making and so on for our attendees. Most importantly, we were the first to introduce forum discussions or plenary sessions, which didn’t exist in the watch industry up until that point. Every time there was a watch event, all the brands did was showcase products, when what people were actually interested in was to acquire knowledge and expand their horizons in watchmaking and watch collecting.

After two editions of Tempus, we decided that was it because I'm not the sort who likes to replicate constantly. Every time we do something, we must be one of the first to bring an idea to the world and to our universe of speciality watches. Since then, there’ve been other platforms, such as Dubai Watch Week, that have far exceeded any of the ambitions that we’d set out with Tempus. For me, there’s no point replicating something like that.

I felt it’d be an interesting platform to create for people to learn from. Because ultimately, we're not out there to fight for market share; we’re trying to fight for a share of the wallet. You see, the greater your knowledge, the greater position you’ll be in to decide on what you want to spend on. I want the guy, who's been collecting stamps or cars, to come into our universe and say, “Hang on, this is a super interesting hobby and community!” Our objective has always been to empower our clients with knowledge. Now, knowledge is no longer the preserve of just a few, it's largely been democratised because of technology.

Many of our clients want us to host another watch event, but for me, it must be fundamentally different from anything that exists in the world of watchmaking today. Also, there is growing interest in artisanal watchmaking. It has continued to expand, especially since COVID-19. Most of the artisanal watchmakers, who’ve been around for the past 10 to 25 years, will tell you that Singapore as a single market, is probably one of the most important ones.

How has the response been so far?

I'm very surprised by where guests are flying in from to attend the event – New York, Seattle, Hawaii... Honestly, it’d be easier for them to fly to Europe because it’s a long 20 hours to 24 hours to get to Singapore, but these are some of the biggest watch geeks you’ll ever meet. This is also the reason why we're doing this: IAMWATCH will be where the watch nerds of the world will unite.

What do you hope for guests to take away from the event?

You're going to have people just hanging out, looking at other people's watches. That's why the dress code says you've got to be double-wristed, because we want guests to be able to strike up conversations with strangers. If you see somebody wearing an interesting watch, I'm certain that 10 out of 10 times, even if you're new to this hobby, you’d ask the person, “What’s that you’re wearing?” and they’ll have a story to tell. That's the fun part about what we're doing; it's all about creating memories and telling stories.

This is what is going to differentiate IAMWATCH from all other events that exist in the watch world, whether trade related or consumer facing. There will be no airs and it’s very democratic. And this is also why we're doing it with just artisanal watchmakers and independent brands. They're all somewhat peers. Of course there are some competitors, but there's a collegial atmosphere where they celebrate one another. They realise that their strength lies in supporting one another, because chances are, neither one of these brands will be able to fully support the demand that they're getting from the market. I think the format that the team has developed is really interesting and meant to be super fun, casual, relaxed.

What are you most excited about for IAMWATCH?

There’s a three-part lecture on the history of watchmaking and timekeeping that I'm very excited about and we've given it star billing. This was an absolutely important series of lectures that I wanted to have as part of IAMWATCH because what I hope attending delegates and visitors will understand is that watches are not another subset of the luxury universe. Most people think watches today are just another luxury item or a status-defining object that announces their net worth or position to the world. No. It's deep science, a deep tradition and a deep culture. Its history predates most other objects that’ve been created in this world.

The series of lectures will be presented by one of the prominent historians and authorities on this subject, a British gentleman named David Rooney. Personally, I think this subject is one that underpins what IAMWATCH is about. Those who attend these lectures will be surprised at how intrusive timekeeping has been in the developmental history of mankind. We wouldn't be here today without it. David’s a great historian and he's written a wonderful book about timekeeping, which I’ve read a few times. When we were developing the IAMWATCH programme, I said there's one guy I really want, and we only had his name to go by. So we Googled him, found his LinkedIn and contacted him.

I hope the historical hook will lure people in because we’ve enough technical minds at the event with the watchmakers. But to understand the history of where watchmaking or timekeeping has come from, I think only a few have spent enough time learning about it. This is something I'm personally very passionate about. It's also something I actually require our watch specialists at The Hour Glass to learn during their training.

Also, everybody who’s been invited here are pretty much my friends, so I’m excited because this gathering will create great energy and a great buzz. I’d like for the community and members of the public to meet my friends because I'm proud to show them off. For me, it’s the people and friendships that’s the crux of it.

Earlier, you mentioned that independent and artisanal watch brands have garnered a lot of attention since the pandemic. Why do you think this is so? 

I think the genre of artisanal watchmaking has been bubbling under the surface for a very long time. For The Hour Glass, the first independent brand that we represented was Gerald Genta. We launched it in 1980 in Asia and that set the tone for us as an organisation and our interest in supporting independent makers. In 1991, we started working with Philippe Dufour, and Daniel Roth in 1994. From 1999, we started developing and building this platform of artisanal makers.

In the global context, it took a different turn during the pandemic, but I think it all had to do with the fact that everybody had so much time. They spent time at home researching and reading about watches. And if you spend enough time on the internet, you go down different rabbit holes. It just so happened that there was already a lot happening in this field and it was all online because artisanal watch brands have no money, so they rely a lot on free media to write about them.

People opened one door, which led to another and another, and then suddenly, they started telling their friends and it became this feeding frenzy. It was something I’d never experienced in my life, but it was very positive, and I was very happy to see it take shape. As a result, it led to this explosion of interest. Even though things have tempered a little now, the interest level for this genre is still high. 

Many independent or artisanal watchmakers have great stories. People can relate to the struggles of a singular craftsman or entrepreneur trying to build a business out of what they have. I see it in the art world as well. There’s a high degree of patronage that exists. People will come and say, “We know that what you're doing is special and we want to support you.”

So, the only way we can really support them is by buying their work. And that gives them enough to work on for their subsequent projects. I’d say very few of these artisans and watchmakers have extremely deep pockets. Everything they make goes back into their business. Even till today, every single dollar that someone like Francois-Paul Journe makes goes back into his business. These watchmakers just want to keep building timepieces and their legacy, and that’s very admirable. I think that IAMWATCH will be the platform in this part of the world that will consolidate that position for arts and watchmaking.

Has the watch-collecting audience changed since the pandemic? 

Absolutely, it's definitely gotten a lot younger. Because of COVID, we’ve noticed that the average age of watch collectors had declined by about 30 per cent, with the fastest growing group being the 20 to 29 age range.

And we embrace it; we’ve always embraced it. This has been our policy at The Hour Glass for the last 25 years, well, ever since I joined. Before that, the staff really wouldn't have given the time of day to a 27-year-old coming into the store to look for a watch. But from my own personal experiences and frustration, I made it a point when I joined this business that it didn't matter how old a customer was, or whether he could afford a watch. As long as he showd a genuine interest – even if he csm’t afford a watch today – it doesn't mean he won't buy one tomorrow. We’ve somewhat indoctrinated in our team that it’s important that they pay attention to young clients or prospects who walk into our boutique.

Everyone always says the young guys aren’t like what they used to be, but these are the guys that are going to be running the world soon, so we should give them the necessary credit and attention.

What do you think sets independent watchmakers apart from the mainstream brands in terms of design philosophy and implementation? 

Just being independent alone means that they have more autonomy over creation and it doesn't matter whether it’s a small watchmaker or an independently owned brand. It’s that creative latitude that they have, where they don't have to answer to anybody else apart from themselves. As long as they can create whatever they want, and it fits within their code or guidelines, sure. Sometimes if they want to create something really exceptional or completely raucous, they can do it too.

Some of the mid to larger brands have certain design codes that they cannot veer away from. And many times, it’s also a design selected by a committee. You won’t find that in either artisan watchmakers or independently owned brands. That sense of creative freedom offers more scope for innovation and experimentation, which makes the outcome more surprising.

What are the biggest challenges and opportunities shaping the watch industry in the near future? 

I think what’s clear is that we are in this state of post-COVID normalisation and the market is somewhat consolidating. What this means is that there will be clear winners, and those that will be suffering a little or a lot more.

New product innovation is going to be critical in the next two years. In the last few years – during the pandemic and after – many brands held off product launches because they didn't have enough to sell. It was easier to sell what they already had in the pipeline or what was already being produced. Coming into a more difficult environment now, I'm expecting to see a lot more innovation when it comes to products because this is when all the brands have to put forward their best watches. So, it could be a really interesting year or two ahead, I'm already waiting for some big surprises to come.

The opening day of IAMWATCH is by-invitation only. From Oct 18 to Oct 20 , 2024 (1aam to 8pm), the event is open to public at The Singapore Edition hotel and admission is free. Interested parties can pre-register at IAMWATCH website. The dress code for IAMWATCH is ‘Double-wristed, Resort casual’; guests are encouraged to wear watches on both wrists.