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About This Podcast
Openwork is a weekly podcast about how the watch industry actually works. An unfiltered look behind the scenes — no press releases, no hype, and no sponsored takes. Hosted by Asher Rapkin and Gabe Reilly, co-founders of Collective Horology. Available on Apple Podcasts, Spotify, YouTube Music, or wherever you get your podcasts.
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Recent Episodes
Open House Recap – Inside LA's First and Only Independent Watch Show – Episode 84
Morning after Open House 2026 — the biggest event Collective Horology has ever thrown. Now in its third year at The Aster in Hollywood, the fair pulled 400+ people through the door, a line down the…
Watch Retail Consolidates, Rapidly – What It Means for the Industry and Enthusiasts – Episode 83
While preparing to speak on a panel about the rapidly changing state of American watch retail, Gabe stumbles onto an annual industry report that ranks the largest jewelry and watch retailers by…
The Quiet Giants – How Seiko, Citizen, and Casio Each Cleared a Billion – Episode 82
Seiko, Citizen, and Casio each pulled in over a billion dollars in revenue last year — in most cases record-breaking, and all three landing neck and neck around $1.3 billion with healthy 9–14% net…
Royal Flop? – AP x Swatch: Brand Building or Crisis Management? – Episode 81
We recorded today's episode on May 13, just a few days before the AP Swatch Royal Pop went on sale. We discuss the decision-making and implications of this project for both companies' brands and…
How Watches Get Allocated – It's Not Just Spend History – Episode 80
Why do some watches always seem to go to the same people? Listener Terry wrote in with a question we hear constantly: how do brands and authorized dealers actually decide who gets the most in-demand…
Against All Odds – How Richemont, LVMH and Swatch Recovered in Q4 2025 – Episode 79
If you'd told Gabe and Asher on August 7th — the day the U.S. announced a 39% tariff on Switzerland — that the holding companies would close out 2025 with their watch businesses up, they wouldn't…
Breitling vs. Richemont – Opposite Bets on an Industry in Flux – Episode 78
A grand reorganization of the luxury watch business is happening in front of us, and nowhere is it more visible than in the diverging strategies of two holding companies making opposite bets on the…
The Sleepers of Watches and Wonders 2026 – Our Favorite Releases from Geneva – Episode 77
Gabe and Asher are back from Geneva, lightly jet-lagged after roughly 30 meetings across three days at Watches and Wonders. Rather than rehash the releases everyone already covered, this episode is…
Is Watches and Wonders Dead? – Long Live Geneva Watch Week – Episode 76
Gabe and Asher bring a firsthand report from Watches and Wonders 2026 in Geneva, jet‑lagged but watch‑fueled. They walk listeners through the week’s key impressions: a general sense of underwhelming…
Watch Brand Draft – Picking Our Fantasy Watch Businesses – Episode 75
Gabe and Asher conduct the first-ever Openwork Watch Brand Draft — a snake-style, six-pick fantasy exercise where each host selects watch brands they'd want to own and operate across three…
The Rise of F.P.Journe – Hype, Substance, or Both? – Episode 74
Gabe and Asher explore the rise of F.P. Journe — how a fiercely opinionated French watchmaker who was expelled from horological school at 16 built one of the most coveted brands in the world. They…
Rolex Pre-owned Values Slide – Certified Pre-owned to the Rescue? – Episode 73
Gabe and Asher kick off with the Dominique Renaud Pulse60 launch, which became the most talked-about watch of the week — not through traditional media, but through private collector communities and…
Unexpected Winners in a Down Market – Independents, Microbrands & Neo-vintage – Episode 72
The Swiss watch industry is in one of its most difficult periods in decades, with ten established brands down 15% or more in revenue — but that doesn't mean everything is struggling. In this episode,…
Speculation Season – Rolex GMT Master, Swiss Watch Data, & Betting Markets – Episode 71
Rumours about the Rolex GMT Master II Pepsi have reached a boiling point. Authorised dealer websites — controlled by Rolex, not the retailers — have quietly dropped the reference, and WatchPro is…
The Rise & Retreat of Jaeger‑LeCoultre – Can Going Independent Save the Brand? – Episode 70
Jaeger-LeCoultre was once the top-selling watch brand in the Richemont Group, a top-10 brand globally, and a GPHG darling under the legendary Gunter Blumlein. Today, it's slipped to number 16 in the…
Tariffs Overturned: Relief or False Hope? – Plus Rolex & AP Grow on Scarcity – Episode 69
Update: As of February 21, 2026, the Trump administration now says they will set the new "Global Tariff" rate at 15% (not 10%), maintaining the same effective rate on Switzerland, at least for 150…
Some Brands Break Away. Others Break Down – Watch Brand Spin-offs Gone Right and Wrong – Episode 68
In this episode, we dive into the growing wave of consolidation—and potential deconsolidation—sweeping through the watch industry, from confirmed brand sales to mounting rumors around major maisons.…
V-shaped Recovery? – The Watch Industry Shows Early Signs of a Turn-around – Episode 67
On this episode, we zoom out to the state of the watch business, using Watches of Switzerland as a real-time bellwether. We unpack strong holiday performance alongside shrinking margins, then dig…
Watch Groups Are Slimming Down – Brand Exits, Consolidation and a Return to Focus
On this episode, we zoom out and examine a broader shift underway in the watch industry as major groups begin to prioritize focus over expansion. Using the sale of Baume & Mercier as a starting…
Pre-owned Prices Rise. Sort of. – Plus, Patek Philippe Lowers Prices – Episode 65
On this episode, we dig into reports that Patek Philippe may roll back U.S. retail prices—by as much as 8%—after last year’s sharp tariff- and currency-driven increases. We break down why the math…
Frequently Asked Questions
Openwork: Inside the Watch Industry has published 85 episodes since January 2024, covering topics in Business, Hobbies.
Openwork: Inside the Watch Industry is currently highly active with new episodes weekly. Average episode length is 52m.
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