Editor’s Note
This article has been updated to reflect Stephen Forsey’s statement regarding his departure from Greubel Forsey, the high-end watchmaking company he co-founded.
In a recent statement posted on his Instagram account, Stephen Forsey, cofounder of Greubel Forsey, the prestige watch brand beloved for its rarefied horological creations, said that he’d been “regrettably disengaged” from his operations at the brand and his contract had been terminated.
For an industry that values discretion, especially when it pertains to executive decision-making, the uncharacteristically candid post hinted at turmoil at the brand and left plenty of questions—particularly about what famously media-averse cofounder Robert Greubel has to say about Forsey’s forced departure. A follow-up story on Miss Tweed went on to say that Greubel Forsey “may be looking for buyers.”
It’s the latest sign that the Swiss are struggling in the current climate. In January, not only did TAG Heuer announce that chief executive Antoine Pin had left the brand after just 18 months at the helm, Richemont shuffled executives at the North American divisions of IWC Schaffhausen, Panerai, Piaget, and Roger Dubuis. The luxury group also announced that it had sold its Baume & Mercier brand to the Italian luxury group Damiani.
One of the most common critiques that AP has faced for the better part of a decade is its overwhelming reliance on a single product family, the Royal Oak (which, to be fair, spawned the Royal Oak Offshore and Royal Oak Concept lines, each considered their own collections). Notwithstanding the debut of the Code 11.59 collection in 2019, AP has long placed all its eggs in the Royal Oak basket.
Not anymore. At the AP Social Club press event in Le Brassus earlier this week, the brand introduced a genuine novelty: its new Neo Frame Jumping Hour, a rectangular model in 18-karat pink gold with a sleek black sapphire dial, drawing on the brand’s art deco history.
The jump hour mechanism emerged about a century ago, when “window watches” (Montres à guichets)—typically rectangular models featuring metal dials punctuated by a small aperture displaying numbers that “jumped” into place—embodied the era’s focus on clean lines and geometric silhouettes.
In 2025, the jump hour made its triumphant return with chic new models from Louis Vuitton, Cartier, and Bremont. With AP’s entrée into the category, it’s now officially a must-have style.
Overall, the value of Swiss watch exports in 2025 totaled 25.6 billion francs, a decline of 1.7 percent compared with 2024. The figures reflect declines in the Swiss industry’s top three markets: China (12.1 percent), Japan (5.8 percent) and the U.S. (0.5 percent).
It’s worth noting, however, that exports notched an increase of 3.3 percent in December to 2.1 billion Swiss francs (about $2.7 billion) after four consecutive months of sharp declines. The monthly recovery was driven by strong growth in the U.S. (up 19.1 percent, which the federation attributed to the reduction in U.S. tariffs earlier that month), and France, which saw a 50.8 percent increase.
For further proof that the secondhand watch market is becoming more structured, look to two new reports published by Collected and Bezel, two platforms targeting buyers and sellers of pre-owned timepieces.
In its first survey, Collected, a new San Francisco Bay Area-based platform that offers contracts and other consumer protections to buyers of secondhand watches, asked nearly 100 respondents to answer a couple dozen questions about the market for used watches, including three free-form questions, Zach Scott, Collected’s cofounder and COO, tells Robb Report: What’s the best thing about the secondary watch market? What’s your biggest frustration or challenge with the way the secondary watch market operates? And if you had a magic wand, what’s one thing you would change about or add to your buying and selling experience in the secondary market?