The Hour Glass

[weijian]

anecdotally seems like more downside to the watch market when youngsters and news cover it

Like crypto, seems like it's the chinese who helped drove up the prices

It is not unfair to look at it this way if maybe we were to try to gauge, where the market is going for the next 24 months. Dr Henry Tay talked about his observation of their clientele getting younger in the last 2 ARs. So I was simply closing the loop over here.

Nonetheless, we have to differentiate between the pre-owned market (eg. what the subdial 50 index at https://beta.subdial.co/market is signalling) and the retailers.

Actually the business of the retailers don't directly benefit from the pre-owned market making new highs. Rather, THG's share price has probably benefited directly instead. But I would rather focus on the business than the price here. Michael Tay has a long runway.