Robin Swithinbank

The sector is facing double-digit sales declines and a crisis of relevance. ‘A watch has become a cultural object of sophistication… but culture has to constantly reinvent, otherwise it can disappear,’ said former Cartier boss Cyrille Vigneron.

After three years of declines, prices of pre-owned watches appear to have bottomed out.

A group of investors is reviving has 'resurrected' the Danish watch company Urban Jürgensen, a 250-year-old name revered by connoisseurs but largely unknown outside that bubble.

The price of Swiss watches has continued to rise, leaving watchmakers battling to bolster their value propositions amid a downturn in luxury spending.