(Bloomberg) -- One reason that Nico Leonard, a foul-mouthed Dutchman based in Belfast, became the most popular luxury watch YouTuber is his penchant for dumping on Swiss brands.
“It’s a fashion watch for people with more money than sense,” Leonard says in a 2023 video titled ‘Why I Hate Hublot.’
In another rant about the company – part of billionaire Bernard Arnault’s LVMH – his advice is even blunter: “Just burn your money next time.”
The Hublot-bashing is part of Leonard’s schtick, helping him amass more than 2 million subscribers across his YouTube channels and more than a million followers on TikTok. Among the most popular videos are his annual brand rankings, where classifications range from ‘God Tier’ – which has included both Rolex and Casio – down to ‘Meh’ and, at the bottom, ‘Hublot.’
For Swiss watch companies, as conservative as the national stereotype would suggest, loudmouth characters like Leonard don’t seem an obvious match. And while the bulk of the industry has stayed away, some of the oldest and most storied firms are starting to embrace his more raucous approach and large social media presence. The move comes as the industry grapples with a slowdown after a Covid-era boom, compounded by a slump in demand in the key Chinese market.
In June, Leonard appeared in a video produced by Audemars Piguet, the near 150-year-old firm best known for the Royal Oak, launched in the 1970s.
The watch dealer handles and wears a series of models while heaping praise on the Le Brassus, Switzerland-based company. He said he was paid for the appearance.
“We value the genuine dialogue he fosters,” Ilaria Resta, AP’s chief executive officer, said in response to questions. “We see a whole generation, in particular the Gen Z, balancing their ease in the digital world with a renewed interest in mechanical watchmaking.”
Another social media figure being wooed is Mike Nouveau, a New York-based vintage watch dealer and former DJ. He’s considered the king of so-called ‘Watchtok’ on TikTok, with almost 450,000 followers.
The 39-year-old is a prolific producer of video shorts for TikTok and Instagram, many of which feature him stopping people on the street to ask what’s on their wrist – often finding hip New Yorkers willing to roll up their sleeves. In others, he’s haggling with a used watch dealer in Chinatown named Eagle Chen.
Earlier this year, Cartier, owned by Swiss luxury conglomerate Richemont, helped pay for Nouveau’s flights to Geneva for the annual Watches and Wonders trade fair. While there, a helicopter whisked him to La-Chaux-de-Fonds for a tour of Cartier’s manufacturing facility in the Jura mountains.
Swiss watchmakers spend around 3 billion francs ($3.5 billion) a year on marketing, according to estimates by Oliver Müller at LuxeConsult. As traditional ad spending declines, more of the budget may go to social media. There are plenty of options for companies, such as Instagrammers like Giorgia Mondani or Austen Chu. The latter has previously worked with AP, collaborating on a special Royal Oak for the Chinese market.
The industry has historically taken a conservative approach, tending to rely on trusted outlets in the watch press. It’s used ambassadors — or testimonees in Rolex parlance — such as tennis great Roger Federer (Rolex), or movie stars like George Clooney (Omega) and Charlize Theron (Breitling) to be the face for their brands.
Moving outside of their traditional space is fraught with risks. Many social media figures made their mark with outspoken views or unique styles that can clash with the image a Swiss firm has cultivated over decades.
Even if not everyone is as brash as Leonard — who had an online spat with US rapper Rick Ross this year — there’s a greater chance that they court controversy, and bring with it backlash on a corporate partner.
Frank Müller, a consultant to the luxury industry and a former CEO of Swatch Group’s Glashütte Original, says while it makes sense for brands to meet young customers in “their modern echo chambers,” there are plenty of challenges, particularly if uncivil behavior escalates.
If one influencer “praises their contractual partner on social media channels while being critical about others, competitors may counteract with their own atmosphere-poisoning ambassadors,” Müller said.
“So far the watch industry’s reputation has been considered to be one of respectful gentlemen,” he added. “And it has been a good selling argument.”
But if firms want to target a younger generation of consumers with disposable incomes who are embedded in the online world, piggy backing on select social media stars is an obvious avenue.
“The reason why I became big, and why I am still the biggest personality in the industry, is because I’m authentic,” Leonard said. “The majority of the brands have no idea how to speak to their own clients, how to speak to new clients and new people.’’
AP isn’t the only Swiss brand to have collaborated with Leonard. He recently teamed up with Ulysse Nardin SA to push the company’s ‘Freak’ model. Pride & Pinion, Leonard’s business, sells Ulysse Nardin watches on its website and says it’s an “authenticated dealer.”
Unsurprisingly, there has yet to be a partnership with Hublot.
Asked about the criticism, the company said it’s “known for being the troublemaker in the world of watchmaking, so it comes as no surprise that individuals sometimes express very polarized opinions on our products.”
In fact, CEO Julien Tornare is offering an olive branch, inviting Hublot’s harshest critic to visit its manufacturing facility in Nyon, Switzerland.
“Whilst we respect everyone’s views, we do believe that such an experience could offer Nico Leonard a new, and more importantly, informed perspective on our maison,” the company said.
©2024 Bloomberg L.P.