This episode of The Business of Watches is brought to you by Panorai.

2025 marks the year of the Luminor, a celebration of bold Italian design, technical innovation, and the legacy of Panorai's most iconic collection.

Welcome to the Business of Watches, where horology meets high finance and each tick tells a story of markets, margins, mishaps, and mechanical mastery.

I'm your host, Andy Hoffman, senior business editor at Haudinkie.

In this series, we dive deep into the global watch industry,

a place where centuries-old craftsmanship intersects with billion-dollar valuations, executive brand strategy,

and investor speculation. From Swiss valleys to Silicon Valley, we trace the movements

shaping this uniquely resilient sector.

Just how big is the business of timekeeping?

Well, some estimates place the entire watch industry from ultra-luxury mazons to smart watches and microbrands

and north of $100 billion globally.

But behind that figure is a complex web of legacy, innovation, and ever-shifting consumer tastes and demand.

This is the podcast for collectors, analysts, watch buyers, and sellers, and anyone who's

fascinated by the intersection of wristwear and wealth.

Because if time is money, then money is most certainly time.

So let's get down to business.

So this week on the business of watches,

we are going to do something a little different.

We are going to hear from you, our amazing listeners and supporters, and we're going to try and answer some of your watch industry business-related questions.

I'm your host, Andy Hoffman, senior business editor at Houdinke in Geneva, and today I am joined by a very special guest, James Stacey, the editor-in-chief of Haudinkie.

James, welcome.

Hey, Andy.

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