{"id":5739,"date":"2021-10-05T12:23:58","date_gmt":"2021-10-05T12:23:58","guid":{"rendered":"https:\/\/techandbiz.com.ng\/tab-backup\/?p=5739"},"modified":"2021-10-05T12:23:58","modified_gmt":"2021-10-05T12:23:58","slug":"african-watchmakers-making-impacts-in-the-ecosystem","status":"publish","type":"post","link":"https:\/\/techandbiz.com.ng\/tab-backup\/2021\/10\/05\/african-watchmakers-making-impacts-in-the-ecosystem\/","title":{"rendered":"AFRICAN WATCHMAKERS MAKING IMPACT IN THE ECOSYSTEM"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Switzerland is a world leader in watchmaking, with iconic brands like Rolex, Omega, TAG, etc. However, according to Euromonitor, exports of Swiss watches to Africa have fallen by up to 47% between 2017 and 2020. While lower purchasing power in Africa are easy explanations for this decline, an exciting new opportunity appears to be opening up for African watchmakers.<\/p>\n\n\n\n<p>Local African luxury watchmakers like #Caveman in Ghana, #Asorock in Nigeria, and #Bett\u00e9l in South Africa are taking on international watch brands and forging a reputation for artistry and reliability.<\/p>\n\n\n\n<p>But while watch sales by global brands are declining on the continent, these local watchmakers &#8212; whose timepieces sell between $75 and $350 &#8212; are ramping up their production and taking a foothold in the market, especially among urban, aspirational, and fashion-conscious middle-class customers.<\/p>\n\n\n\n<p>Globally, watch sales are proving resilient even in the era of the smartphone, with the global market valued at $62bn in 2020 by Business Wire. While Africa&#8217;s watchmaking industry is still in its infancy, it appears the time has come for timepieces made in Africa to share shelf spaces with Swiss-made brands.<\/p>\n\n\n\n<p>John-Paul Iwuoha<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Switzerland is a world leader in watchmaking, with iconic brands like Rolex, Omega, TAG, etc. However, according to Euromonitor, exports of Swiss watches to Africa have fallen by up to 47% between 2017 and 2020. While lower purchasing power in Africa are easy explanations for this decline, an exciting new opportunity appears to be opening [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[],"class_list":["post-5739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/5739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/comments?post=5739"}],"version-history":[{"count":0,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/posts\/5739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media\/5740"}],"wp:attachment":[{"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/media?parent=5739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/categories?post=5739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techandbiz.com.ng\/tab-backup\/wp-json\/wp\/v2\/tags?post=5739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}