For collectors, the likes of Audemars Piguet and Breguet conjure up images of luxury, exquisite craftsmanship and undisputed reliability. But such technological advances are no longer confined to workshops in Geneva, with German watchmakers making significant inroads into the development of timepieces over the past decade.
'Though there are many more luxury Swiss watch brands than German ones, German brands are catching up quickly,' said Leo Poon Kam-kee, vice-president of Glashutte Original in North Asia. The brand is considered one of Germany's most renowned, with a history of manufacturing fine mechanical watches since 1845.
'From a technological point of view, high-end Swiss and German watches are of equal status,' Mr Poon said. 'German watches have also done a lot on the design side, so they look just as good as Swiss watches these days. But the look is completely different, German watches are simpler and more solid.'
According to Hong Kong stock exchange-listed watch distributor and retailer Peace Mark (Holdings), which represents more than 100 Swiss, German and Japanese brands in Greater China, the entry barrier for the luxury watch market is high.
'Swiss-made watches remain the market leader, followed by an emerging number of premium German brands, while Japanese watches have yet to reach the same level,' said Tommy Leung, Peace Mark's chief executive. 'The luxury watch market has stabilised in the sense that it is difficult for newcomers to penetrate the market.'
Though the German watchmaking industry is centuries-old, the aftermath of the second world war and division of Germany halted the manufacturing of fine watches for some 40 years as factories in East Germany were collectivised under communist rule.
