"I think the whole industry should be terrified," said Maximilian Busser, founder of the unconventional high-end watch brand MB&F.
According to him, with the advent of technology, along with the lack of passion among conventional mechanical watchmakers, smartwatches such as apple watches could take over the industry, marking 'doomsday' for traditional watches.
Another mistake that the high-end watch makers are making, according to him, is that they think that smart watches are only going to get market share from the lower end.
"I think that's wrong. I see around me, a lot of people who are wealthy and can afford any beautiful piece of watch, are wearing an apple watch," said Maximilian Busser, founder of the unconventional high-end watch brand MB&F.
The main reason for this, he said, is convenience. "The battle is going to be for real estate - our two wrists. Will clients be wearing a computer on one hand because it's practical and still keep a piece of art and soul on the other wrist?"
However, MB&F's revenue hasn't been affected so far. "Five years ago, I took a very bold decision - we are not going to grow", he reveal.
In 2013, after making AED60 million, Busser decided to stop growing the company.
(Source: Arabianbusiness.com YouTube channel)