8 JEWELS & TIME 2019/Just how important are the
millennials to the watch and jewellery
industry? In 2018 alone, the cohort born
between 1981 and 2000 represented some
47 per cent of global personal luxury
goods consumers, according to a report
by Bain & Company. The management
consulting fi rm also predicted that the
younger generation (compromising the
millennials and Generation Z, those born
after 2000) will make up about 55 per cent
of the luxury market by 2025. This group
of young people is the primary engine of
the future growth of the luxury market
and they will account for a considerable
part of the global demand for watches
and jewellery.
In this edition of Jewels & Time, we
featured watch and jewellery enthusiasts,
cover personality Derrick Yeo, property
executive Carmen Ow and non-profi t
organisation founder
Sonia Ong, (page 56),
all of whom know the
history of myriad brands
and are well-updated
on the latest releases.
What is particularly
interesting is that all three
of them prize quality and
craftsmanship over design
and even brand equity.Editor's Note
ON THE COVER
Photography
Darren Gabriel Leow
Art Direction
Matilda Au
Fashion Direction
Desmond Lim
Photography Assistant
Eric Tan
Styling Assistant Joey Tan
Hair Chris Siow using
Revlon Professional
Makeup Ernest Lim using
Giorgio Armani BeautyDerrick Yeo wears Ref
5172G-001 Chronograph in
platinum by Patek Philippe;
cashmere sweater, cotton
shirt and cap, denim
jacket and trousers, all by
Giorgio ArmaniTheir perspectives, while surprising, mirror the views
expressed by millennial respondents in a 2017 Deloitte
study. Clearly, young consumers are not buying
blindly. They spend considerable effort to understand
the market and do suffi cient research before making
an acquisition.
On the topic of craftsmanship, the maisons' high
jewellery creations on page 46 are impressive. The
artisans from the different houses have pushed their
own limits, innovating with novel materials and
trying unprecedented gemstone combinations. Each
collection's inspiration is a breath of fresh air too—
ideas are plucked from the sky (literally), the desert
and even the world of cinema.
Over on the horological front, the brands are no
slouches either. We see notable commemorative
watches and mind-blowing technical innovations—an
indication that the watch industry is picking up steam
after two slow years.
Finally, what is Jewels & Time without a homage
to our local jewellers? Their sparkling creations
demonstrate how creative and skilled our homegrown
jewellers are. Find out who made it to this year's
Tatler 10 Best Jewellers list on page 64.
Meanwhile, stay tuned to singaporetatler.com
for more news and events from the watch and
jewellery world.— TERENCE LIM, EDITORIN HAUTE
Decoding the minds of millennial consumers and collectors such as manufacturing fi rm PURSUIT
director Derrick Yeo