Openwork: Inside the Watch Industry

Breitling vs. Richemont – Opposite Bets on an Industry in Flux – Episode 78

A grand reorganization of the luxury watch business is happening in front of us, and nowhere is it more visible than in the diverging strategies of two holding companies making opposite bets on the future. Gabe and Asher unpack the contrast between Breitling, which under Georges Kern has quietly reconstituted itself as a private-equity-backed challenger group — bulking up through the acquisitions of Universal Genève and Gallet — and Richemont, the industry stalwart now actively slimming down, shedding Baume & Mercier and quietly walking Montblanc away from serious watchmaking. The conversation digs into what each move actually signals. Universal Genève's relaunch with full collections at Vacheron and Jaeger-LeCoultre price points, distributed through curated Breitling network partners, looks like a textbook play for cross-shop market share at the high end. Gallet's entry into the brutal sub-$5,000 segment is harder to explain — unless you read it as Kern building a fully diversified holding company with a long-term IPO in mind, willing to plant a flag in a difficult category before the cycle turns. Richemont's behavior reads as the inverse philosophy: get fit, exit segments where the math doesn't work, and protect margin around Cartier and the houses that still command pricing power. Along the way, Gabe and Asher get into the JLC management buyout rumors swirling out of Geneva, why the Mark Newson Memovox travel clock is the most genuinely interesting thing the brand has done in years, what Monbtlanc's absence from Watches and Wonders actually means, and why the agility of a young holding company is a real strategic asset that the legacy giants can't easily replicate. Market share is up for grabs in a way it hasn't been in a generation — and the next few years are going to redraw the map. Openwork is a weekly podcast about how the watch industry actually works. An unfiltered look behind the scenes — no press releases, no hype, and no sponsored takes. Hosted by Asher Rapkin and Gabe Reilly, co-founders of Collective Horology. [https://collectivehorology.com] Available on Apple Podcasts, Spotify, YouTube Music, or wherever you get your podcasts. You can find us online at collectivehorology.com [https://collectivehorology.com]. To get in touch with suggestions, feedback or questions, email podcast@collectivehorology.com [podcast@collectivehorology.com].

The Sleepers of Watches and Wonders 2026 – Our Favorite Releases from Geneva

Gabe and Asher are back from Geneva, lightly jet-lagged after roughly 30 meetings across three days at Watches and Wonders. Rather than rehash the releases everyone already covered, this episode is dedicated to the watches they think didn't get the attention they deserved. The rule: hands-on only. Four picks each, plus a few honorable mentions. The list spans a revived historical brand delivering a striking jump hour in a Geneva-sealed movement, a sophomore release whose gearing is literally re-cut so the date numerals sit evenly on the dial instead of bunching up at the double digits, a beloved grand date finally scaled down to wear properly on a smaller wrist, and a half-million-dollar resonance minute repeater with a second chiming mode designed, essentially, to show off. Elsewhere: a cushion-cased diver that wears nothing like its spec sheet, a brand that took everything in-house and cut its average price by 30 to 40% — a direction almost no one else is moving — and a pilot's watch that refuses to follow the obvious template, with a gradient dial lifted straight from RAF aircraft livery. Honorable mentions include a chaotic mainstream release neither of them can stop thinking about, and a side quest into neo-vintage territory. Openwork is a weekly podcast about how the watch industry actually works. An unfiltered look behind the scenes — no press releases, no hype, and no sponsored takes. Hosted by Asher Rapkin and Gabe Reilly, co-founders of Collective Horology. [https://collectivehorology.com] Available on Apple Podcasts, Spotify, YouTube Music, or wherever you get your podcasts. You can find us online at collectivehorology.com [https://collectivehorology.com]. To get in touch with suggestions, feedback or questions, email podcast@collectivehorology.com [podcast@collectivehorology.com].

Is Watches and Wonders Dead? – Long Live Geneva Watch Week – Episode 76

Gabe and Asher bring a firsthand report from Watches and Wonders 2026 in Geneva, jet‑lagged but watch‑fueled. They walk listeners through the week’s key impressions: a general sense of underwhelming novelties from the big brands, alongside impressive investments in booth design and production value. The episode zeroes in on Audemars Piguet’s controversial, fully walled booth and strict queuing system, a move the hosts find off‑putting in a community event. In contrast, they highlight the energy downtown — the Beau Rivage, Time to Watches, Chronopolis and one‑off brand showings — where independents are generating excitement. Notable moments include Moser’s playful Reebok collaboration, Credor’s surprising standalone presence, and the growing prominence of independent makers in the Palexpo and around Geneva. The hosts also praise brands and spaces that created calm, focused environments for hands‑on encounters, such as Berneron’s art‑gallery meeting. Overall the episode frames the week as a snapshot of an industry in flux: shifts in where the action takes place, evolving brand strategies, pressures from costs and logistics, and a renewed appetite for independent creativity. Gabe and Asher close by promising a follow‑up with their favorite unsung watches of the week. Openwork is a weekly podcast about how the watch industry actually works. An unfiltered look behind the scenes — no press releases, no hype, and no sponsored takes. Hosted by Asher Rapkin and Gabe Reilly, co-founders of Collective Horology. [https://collectivehorology.com] Available on Apple Podcasts, Spotify, YouTube Music, or wherever you get your podcasts. You can find us online at collectivehorology.com [https://collectivehorology.com]. To get in touch with suggestions, feedback or questions, email podcast@collectivehorology.com [podcast@collectivehorology.com].

Watch Brand Draft – Picking 
Our Fantasy
 Watch
 Businesses – Episode 75

Gabe and Asher conduct the first-ever Openwork Watch Brand Draft — a snake-style, six-pick fantasy exercise where each host selects watch brands they'd want to own and operate across three categories: independent, micro/challenger (under $5,000), and mainstream luxury. Ground rules exclude AP, Patek, Rolex, Richard Mille, and any brand Collective Horology carries, keeping the conversation free of commercial conflicts and full of candid business analysis. The independent and micro picks reveal what Gabe and Asher value most in a watch business — from creative extensibility and succession planning to supply chain execution and untapped product categories. Some selections are love letters to brands already firing on all cylinders; others are driven by a conviction that the right operational changes could unlock serious growth. The hosts don't hold back on where they'd steer things differently if handed the keys. The mainstream luxury round sparks the sharpest strategic debate, with one pick framed as a direct competitive threat to Patek Philippe and the other as a brand with world-class watchmaking credentials that just needs permission to break out of a self-imposed design box. Plus, J.N. Shapiro joins the Collective Horology Open House lineup on June 6th in Hollywood — RSVP at collectivehorology.com/openhouse [https://collectivehorology.com/pages/rsvp-for-open-house-2026]. Openwork is a weekly podcast about how the watch industry actually works. An unfiltered look behind the scenes — no press releases, no hype, and no sponsored takes. Hosted by Asher Rapkin and Gabe Reilly, co-founders of Collective Horology. [https://collectivehorology.com] Available on Apple Podcasts, Spotify, YouTube Music, or wherever you get your podcasts. You can find us online at collectivehorology.com [https://collectivehorology.com]. To get in touch with suggestions, feedback or questions, email podcast@collectivehorology.com [podcast@collectivehorology.com].

The Rise of F.P.Journe – Hype, Substance, or Both? – Episode 74

Gabe and Asher explore the rise of F.P. Journe — how a fiercely opinionated French watchmaker who was expelled from horological school at 16 built one of the most coveted brands in the world. They trace Journe's journey from launching at Baselworld in 1999 through two decades as a respected but niche independent, into the COVID-era explosion that turned $25,000 Chronomètre Bleus into $100,000 commodities. Asher shares his own experience as a former Journe collector, including walking into the LA boutique in 2016 and buying a watch off the shelf — a scenario now unthinkable. The conversation digs into what made Journe uniquely positioned for this moment: unimpeachable watchmaking, genuinely limited production, a boutique-only model built well before the hype, and a design language that's distinctive yet accessible. They also wrestle with the tensions in Journe's current allocation system — does it reward true collectors or just people who are good at playing the game? And how is it different from the corporate gatekeeping at brands like AP? Ultimately, both come away with deep respect for the discipline behind the brand. While many watchmakers overproduced during COVID and are now sitting on unsold inventory, Journe held the line — and its post-bubble values have reset well above pre-pandemic levels. A true case study of one in independent watchmaking. Openwork is a weekly podcast about how the watch industry actually works. An unfiltered look behind the scenes — no press releases, no hype, and no sponsored takes. Hosted by Asher Rapkin and Gabe Reilly, co-founders of Collective Horology. [https://collectivehorology.com] Available on Apple Podcasts, Spotify, YouTube Music, or wherever you get your podcasts. You can find us online at collectivehorology.com [https://collectivehorology.com]. To get in touch with suggestions, feedback or questions, email podcast@collectivehorology.com [podcast@collectivehorology.com].