HODINKEE Podcast: The Business of Watches [012]

Guest: Manuel Emch, Head of Louis Erard and "The Numbers Guy" at Kollokium
Host: Andy, with co-host Malaika Crawford (Editorial Director, HODINKEE)
Date: January 21, 2026

Overview

This episode centers on Manuel Emch, a transformative figure in Swiss watchmaking, currently at the helm of Louis Erard and an integral force at Kollokium. Through candid conversation, Emch shares his journey from his horological roots in Switzerland to turning around and reimagining traditional watch brands. He gives an insider’s account of what it takes to build, revive, and sustain success in Swiss watchmaking, with a focus on adapting to changing consumer values, brand evolution, and the interplay between creativity and business acumen.

The podcast begins with industry headlines and then launches into Emch’s personal narrative and professional philosophies.

Key Segments & Insights

1. Industry Headlines & Trends

(00:55 – 10:55)

• LVMH Watch Week: Coverage of new high horology releases from TAG Heuer, Hublot, Zenith, Daniel Roth, Gérald Genta, and Louis Vuitton.
• Louis Vuitton’s Watchmaking: Both hosts discuss the transformation of LV’s watchmaking, especially after visiting the Geneva atelier.
• Rolex Testimonies: Discussion about Rolex’s new "testimonies," including Leonardo DiCaprio and Zendaya, and Rolex’s unique approach to brand ambassadors.

Memorable Quotes:

• “Watching him sort of hand guilloché with absolutely sort of zero worry, zero concern... Zero Fs given by the master guilloché at LFT." — Malaika (03:09)
• “Rolex testimonies are... not the sort of tabloid celebrities. They're that real upper crust. You don't know much about them, but they have all this prestige.” — Malaika (09:33)

2. Manuel Emch's Origin Story & Early Industry Experiences

(10:55 – 19:27)

• Swiss Roots: Emch shares how growing up in Grenchen—through the quartz crisis—influenced both his skepticism and love for the industry.
• Creative Drive: Though educated in automotive design, Emch migrated into business, combining creativity with managerial acumen.
• Early Roles: His first major role was creating a business plan to revive the storied but dormant Jaquet Droz brand, leveraging entrepreneurial energy inside Swatch Group.

Notable Quote:

• “I always had a very strong entrepreneurial drive... being able to create things was what really interested me.” — Emch (14:22)

3. Rebuilding Historic Brands: Jaquet Droz & Romain Jerome

(19:27 – 35:32)

• Jaquet Droz Turnaround: Emch orchestrated a startup-like revival, ignoring internal group politics to grow the brand internationally.
• Challenges with Swatch Group: As the brand grew, increased bureaucracy and political constraints pushed Emch out.
• Romain Jerome (RJ): Joined another troubled brand, pivoting it from negative, provocative storytelling (e.g., Titanic DNA) towards playful, pop-culture collaborations (e.g., Super Mario, Batman).
• Lessons on Growth: Pushed back against “growth at any cost,” left when business priorities clashed with creative vision.

Memorable Moment:

• “Provocation is part of our industry, but negative provocation is timed. After a certain period, you can create a lot of visibility... but when it's negative, sooner or later it will come to an end.” — Emch (30:02)

4. The Louis Erard Revival: From Rational to Emotional

(35:32 – 49:20)

• Diagnosis: Louis Erard’s retreat into price-based competition nearly destroyed it.
• Strategy Reset: Emch steered focus away from rational (just value for money) into emotional—craftsmanship, artisanship, storytelling, scarcity.
• The Silverstein Collaboration: A chance meeting and unplanned proposal led to a successful, brand-transforming collaboration with Alain Silberstein.
• Digitalization & Lean Management: Rebooted the team and streamlined operations, preparing for a modern, post-COVID watch industry.

Notable Quote:

• “I have clients who bought 25 regulators over the last five years. When you're at 4,000 a watch... how many more regulators with the same case can I do? So, we need to invent.” — Emch (73:11)

5. What Makes a Watch Brand Successful?

(49:20 – 57:12)

• Key Ingredients:
  • Listening to the Brand: “You gotta listen, you gotta feel, and you gotta hear the brand because it resonates.” (49:58)
  • Creative/Analytical Balance: Emch is colloquially the "numbers guy," but he emphasizes creativity and curiosity as equal partners to business analysis.
  • Ever-Evolving Recipe: Success is about constant adjustment and not a fixed roadmap.
• Industry Trends: Moving from product as functional object to watches as emotional, even artistic expressions. Importance of transparency, personalization, and creator-driven brands.

6. The Microbrand Movement & Kollokium

(57:12 – 65:30)

• Kollokium Origins: Founded during COVID with two partners and no intention of large-scale business; quickly gained traction.
• “Sell off the wrist” Philosophy: No marketing spend, limited drops, and immediate sales.
• Balance Between Direct Sales & Retail: Emch believes in maintaining both, for service, credibility, and future stability.
• Ecosystem Approach: Champions collaboration and mutual support across artisanal brands and retailers.

Notable Quote:

• “I’m a big supporter of mutualization... I don’t look at us as competitors. I look at us as a small, not even industry anymore, more kind of volume artisanship.” — Emch (67:45)

7. Brand Budgets, Growth Philosophy, and Future-Proofing

(68:38 – 73:11)

• Against Business Plans & Growth Fetish: Emch prefers brand value, scarcity, and quality over aggressive expansion.
• Profitability as Priority: “If it doesn’t make profit, it doesn’t make sense.” (71:09)
• Resisting Complacency: Success depends on constant reinvention and understanding consumer shifts—moving from complication arms races to supreme finishing and artisanship.

8. Looking Forward: Upcoming Projects and the State of the Industry

(77:29 – end)

• Louis Erard: Launching a new sports line with pop-culture partnerships; developing more complex cases and movements.
• Kollokium: Upcoming Project 2, with intricate stacked dials, will launch at Watches and Wonders; more projects in pipeline.
• Personal Roadmap: Emch hints at yet another project at a different (even more affordable) price point.
• Biggest Challenge: “The biggest challenge for brands is to continuously reinvent yourself... you have to avoid to fall in traps... constantly evolving.” (73:11)

Notable Moments & Quotes with Timestamps

• On LV Watchmaking Transformation: "Watching him sort of hand guilloché with... zero Fs given." — Malaika, (03:09)
• On Founding Jaquet Droz Business Plan: “At 28, 29—went in to Mr. Hayek... With a business plan saying, I have something to suggest.” — Emch, (20:07)
• On Collaborations and Brand Revivals: "One product... changed the whole perception of a brand." — Emch, (47:27)
• On Surviving Industry Downturns: "Our aim is simple: we produce 10 watches a day, around three-and-a-half-thousand a year... 50% we sell online..." — Emch, (68:57)
• On Reinvention: “You have to avoid falling in traps... not redo what we do, but constantly evolve.” — Emch, (73:11)
• Future Direction: “For me, a pipeline product is probably the most important element.” — Emch, (77:43)

Conclusion

Manuel Emch’s philosophy blends entrepreneurial independence, sharp analysis, and deep respect for craftsmanship. He sees the future of brands not in growth for its own sake but in meaningful, transparent, and adaptive creativity. From reviving historic names to launching daring microbrands, Emch’s story lays out a blueprint for thriving in today’s dynamic watch industry—one where listening, evolving, and remaining emotionally resonant are the keys to lasting success.