Podcast Summary: The Real Time Show – "Time To Watches: Formex"
Release Date: June 5, 2025
Hosts: Rob Nudds & Alon Ben Joseph
Introduction
In this engaging episode of The Real Time Show, hosts Rob Nudds and Alon Ben Joseph delve into the dynamic world of watchmaking with a special focus on Formex, one of the most exciting brands emerging in recent years. The episode provides listeners with an in-depth look at Formex's presence at the Time to Watches fair, their innovative products, and the challenges they face in the industry.
Interview with Raphael from Formex
Rob Nuts kicks off the conversation by welcoming Raphael, affectionately known as Raf, to the show. The discussion begins with Raf sharing his experiences at the Time to Watches fair.
[00:31] Raphael: "The show has been great for us... we've been trying to hold three different meetings simultaneously on little standing tables next to our booth."
Raf elaborates on Formex's strategic location in the annex next to the villa at Palexpo, highlighting the benefits of increased foot traffic and the opportunity to engage directly with a diverse clientele, including end customers, business partners, and press representatives.
Rob Nuts praises the relocation from the previous hedge, noting the enhanced accessibility for international guests:
[02:19] Rob Nuts: "The caliber internationally of guests that you're able to access when you are a minute's walk from Palexpo is noticeable."
Raf concurs, emphasizing the logistical advantages and the positive reception they've received since relocating.
Navigating Industry Challenges: Trade Tariffs
The conversation shifts to a pressing issue affecting the watch industry—potential tariffs imposed by the U.S. on European, particularly Swiss, exports. Rob Nuts raises concerns about how these tariffs could impact Formex's business model.
[05:45] Rob Nuts: "The margins that Trump is discussing imposing on... Swiss exports is absolutely brutal."
Raf addresses the situation with a strategic outlook:
[06:42] Raphael: "One of them is certainly just going to bed and hopefully he changes his mind... we might have to set up a warehouse there."
He outlines Formex's contingency plans, including reducing customization services and accelerating shipments to the U.S. to mitigate the impact of the tariffs. Raf emphasizes the importance of maintaining customer satisfaction without passing the additional costs onto them.
Innovative Product Launches
A significant portion of the episode is dedicated to showcasing Formex's latest innovations. Raf introduces their first full ceramic watch, unveiled during a recent event in Manhattan.
[09:01] Raphael: "We've launched our first full ceramic watch... it's extremely scratch resistant but also extremely hard to manufacture."
Raf delves into the complexities of manufacturing ceramic watches, discussing the challenges of shrinkage during the heating process and the precision required in CNC grinding to achieve flawless finishes. He proudly shares the rigorous testing Formex conducts to ensure durability and resistance to breakage.
Company Background and Expertise
Raf provides listeners with a comprehensive background of Formex, highlighting the company's rich heritage in manufacturing composite materials over 35 years. He traces the company's roots back to his father's expertise in the watch industry and the evolution of their family business, Texel, into a key player in dial manufacturing and case production.
[12:35] Raphael: "My father immigrated to Switzerland... He was always a tinkerer and an inventor."
This deep-seated experience underpins Formex's commitment to quality and innovation in watchmaking.
Future Plans and Developments
Looking ahead, Raf shares exciting prospects for Formex, including new dial variations and advancements in their movement technology.
[15:09] Raphael: "We're putting a lot of effort into developing... we're going to start a project with a movement manufacturer... something in the works for our 25th anniversary."
He hints at the potential launch of a completely new movement around October, celebrating the brand's milestones with groundbreaking products.
Audience and Community Feedback
Towards the end of the episode, hosts and guests discuss the broader impact of Formex in the watch community. Sam and an Unknown Speaker provide testimonials, praising Formex's precision, build quality, and innovative use of materials like ceramic.
[19:26] Unknown Speaker: "Their position in the industry is extremely unusual. The machining is superb... it's a great product. Beautifully conceived, superbly executed."
They commend Formex for offering high-quality watches at competitive price points, making luxury accessible to a wider audience.
Conclusion
Rob and Raphael wrap up the episode on a positive note, reflecting on the success of the fair and expressing optimism for Formex's future endeavors.
[17:20] Raphael: "Thank you very much."
The hosts encourage listeners to stay tuned for more updates and express eagerness to feature Formex in future episodes for deeper insights.
Notable Quotes:
- Raphael on Trade Tariffs: "[06:42] ...we might have to set up a warehouse there."
- Rob Nuts on Product Quality: "[17:34] ...they produce a better quality product than Formex at that price point."
- Unknown Speaker on Precision: "[19:26] ...machining is superb... it's a great product."
Key Takeaways
- Strategic Relocation: Formex's move to the annex at Palexpo has significantly increased their visibility and access to a diverse clientele.
- Innovative Manufacturing: The launch of Formex's first full ceramic watch showcases their expertise and commitment to quality, despite the manufacturing challenges.
- Industry Challenges: Potential U.S. tariffs pose a threat, but Formex is proactively developing strategies to mitigate their impact.
- Rich Heritage: Formex leverages decades of family-run expertise in composite materials and watchmaking to drive innovation.
- Future Endeavors: Plans for new dial variations and movement technology highlight Formex's dedication to growth and excellence.
- Community Recognition: Formex is highly regarded in the watch community for delivering high-quality, precisely engineered products at accessible prices.
Final Thoughts
This episode of The Real Time Show offers a comprehensive look into Formex's operations, challenges, and future plans. Raphael's insights provide valuable perspectives on navigating the competitive watch industry, while the hosts and guests underscore the brand's exceptional craftsmanship and innovative spirit. Whether you're a watch enthusiast or industry professional, this episode delivers a wealth of information and inspiration.