About this project
Eldon Watches are dedicated to the men who live fast paced lives. To the men who go from one opportunity to the next. To the men who seek to be extraordinary. Eldon recognises this, by building a watch that can be as adaptive as you. You’re in charge, we just facilitate.
Our Vision – We're a young and vibrant British company made up of passionate people and we want to change the way watches are perceived and used.
Our Mission – to facilitate the extraordinary, by developing the highest quality, most adaptive fully interchangeable watches in the world.
Our first Eldon Watch was born from the revolutionary idea that a watch should be created by the wearer. You shouldn’t accept anything other than exceptional. That’s when the fully interchangeable watch came to life.
The Eldon Watch design was created to be one of a kind. The case shape is made to stand out whatever occasion. The face designs express quality, adventure and exclusivity. At the heart of each watch is a highly accurate Swiss Quartz Movement.
We have partnered with a leading manufacturer with more than 25 years of timepiece manufacturing and assembly experience to ensure the highest quality for our watches.
We make use of high-tech CNC-machining for the production of the watch case to ensure the most precise and accurate dimensions. Our components are hand-finished to a high standard to ensure the personal attention and touch when it comes to the mechanics of our watches.
Eldon insist upon a high standard - every component that enters the manufacturing process and goes into your watch is controlled down to the finest detail, ensuring that its dimensions, aesthetics and quality are flawless.
For this reason, we offer a 12 Month Guarantee on all Cases, Faces and Bezels. We also offer a 6 Month Guarantee on all straps.
Risks and challenges
At Eldon Watches, we understand the watch market can be a very competitive and fierce environment to enter, so we have identified these risks and challenges.
Explaining the Product – An Eldon Watch is a new type of wrist watch which has never been seen before, so a large risk to the company is being able to effectively explain the benefits and features of the product to potential customers. For example, if a customer’s sees a photo of a complete watch, how do we communicate that each part of the watch can be swapped out and changed? This is a particular challenge we will pay a great deal of attention to and keep at the forefront of our mind when marketing and selling the product.
Ensuring high quality parts – This is a brand new watch concept so we need to ensure we have ‘long term quality parts’ to ensure users do not run up against any quality issues whilst interchanging parts of their watch. We have fully tested all parts so we are confident in the quality of the watch elements. In fact, making a watch with interchangeable parts means a user can easily keep their watch in perfect condition. Imagine if a watch owner dropped a Rolex and scratched the case. The whole watch is one piece and therefore, forever damaged. Our customers could simply purchase a new outer case and the watch would be as good as new.
Production costs risking post Brexit – Due to the UK leaving the EU, we have seen a huge downturn in the British Pound (£) This makes it much more expensive to produce and import parts of our watch and almost doubles our initial cost of packaging materials. We hope by focusing on export sales that we can use this as a positive as our watch becomes cheaper to purchase from every country outside the UK, a big positive for our international customers.
Reduced cost of other fashion watches – Fashion watches are becoming increasing lower cost however this cost usually comes at the cost of a very low quality product. We believe by offering a high quality watch at an affordable price, users will be very proud of their Eldon Watch timepiece.
Stiff competition – The watch market is one of the most crowded fashion categories and we hope by offering something very different we can create a new category of watches (of which we’re currently the only competitor). We do have to watch out for other brands taking our concept and applying this to their own designs. We hope that Kickstarter will give us a good head start. We have also carried out much of the hard work previous to launching the campaign which gives a positive short lead time from funding goal reached to product produced.
Increased competition from smart watches – Even though the smartwatch market has not been as successful as Google or Apple would have liked, it’s still an important market which must be watched. In a recent survey 25% of Swiss watch makers see smart watches as competition compared to just 16% on the previous year.
Targeting – As we have a new type of watch, it makes the job of specific customer targeting a little more difficult, however we believe we can successfully target the right market. Social media platforms such as Instagram are going to be key in getting the message out there to our potential customers.
Budget - Typically a large watch brand puts 40-60% of revenue back into marketing. As a young startup this will not be possible initially so we are hoping a successful Kickstarter campaign will give us the boost we require to promote the watch to the right markets.Learn about accountability on Kickstarter
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