D’Amore plans to raise money through crowdfunding and hopes to garner some 10 million francs by the end of September in order to make 5,000 to 10,000 pieces, which he’ll sell online. The first models are planned for next year. Without much of a budget for advertising, D’Amore has taken to the Internet in an attempt to attract consumers with punchy YouTube videos. One shows a scene from the Clint Eastwood Western, A Fistful of Dollars, overdubbed with dialogue that reflects the project’s rebel tone.
Consumers Decide
Goldgena is surveying consumers to see if they would be interested in cheaper non-Swiss-Made watches.
So far, 63 percent of website visitors have voted for Swiss-Made, in proportions of either 50 percent or 99 percent. Still, 348 out of the 947 have said no, which shows there may be consumer demand for an Asian-assembled automatic watch. Goldgena will wait a few weeks to gauge consumer interest before it makes a decision as to which route to follow. D’Amore said he’d prefer the non-Swiss-Made route.
Goldgena’s watches would most likely put pressure on entry-level brands with a price tag of 500 francs to 2,000 francs, according to Edouard Meylan, chief executive officer of H. Moser & Cie., whose watches start at $15,000.
“The risk is not so big, as I don’t think that many customers will see and assimilate the Goldgena Project,” he said. If the upstart brand does succeed, however, it could force some other brands to consider abandoning the Swiss-Made label.