Steel Watch Bands Are Making a Comeback in Luxury, as Demand Soars
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LONDON — The argument over what’s more stylish — a steel watch bracelet or a leather strap — is a long-argued seesaw, with each style making a comeback and then hiding in plain sight to let the other one shine.
“Over recent years we have witnessed soaring demand for [steel] bracelet watches versus traditional [leather] straps,” said Beth Hannaway, Harrods’ director of buying for fine jewelry and watches.
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“This trend has been mirrored in the expressions of interest lists held against the hottest models, not least because Rolex’s highly coveted steel Perpetual models all come with a bracelet, whilst Audemars Piguet’s Royal Oak and Vacheron Constantin’s Overseas collections ensure bracelet watches remain on every collector’s wish list,” she added.
Even as the movement of quiet luxury gently announced itself, luxury watches have never been an item that adheres to trends, especially when there’s nothing quiet or shy about the price tags of a watch.
In reaction to the global cost-of-living crisis and ongoing struggles of the global economy, there has been an apparent uptick in introductions of luxury watches with bracelets rather than straps.
For example, to celebrate Bulgari’s 140th anniversary, the Italian jeweler has introduced three Octo Finissimo limited editions in shiny metals, each showcasing illustrated dials that depict the movements as if one were observing the watch from the reverse side, as seen through an open case back.
The Octo Finissimo Automatic Sketch retails for $55,900 for the rose gold; $19,500 for the steel version, and the Chronograph model priced at $22,800.
“A great bracelet watch can truly go anywhere and do anything, and it’s this versatility that really appeals to our clients. We’re seeing this reflected in the brands’ approach to bracelets, too, with a heightened focus on this sometimes-overlooked watch component, with modern bracelet design hero-ed as an extension of the watch itself, and an additional interpretation of its character,” explained Hannaway, stressing that demand hasn’t waned for simple, elegant leather strap watches either.
JLC’s Reverso and Cartier’s classic Tank are perpetually well-loved by the Harrods clientele.
But the steel band trend is visible at all price points. At Swatch, two stainless steel bracelets have been added to the Power of Nature collection which, according to chief executive officer Alain Villard, have “already resonated with customers and created a lot of buzz.”
Breitling’s steel success, meanwhile, has been magnetizing a new audience, its female customers.
“Over the past four years, we’ve seen a slight overall increase in favor of steel bracelets compared to leather straps when looking at models that are available on both. We’ve noticed an increase in European markets such as the U.K., Germany and France as well as China, who’ve been our main drivers for watches equipped with steel bracelets,” said Georges Kern, chief executive officer of the brand.
In February, the brand collaborated with Victoria Beckham on a limited-edition collection to reimagine the brand’s Chronomat Automatic 36 watch. The watches she designed are available in stainless steel and 18-karat yellow gold with peppermint, midnight blue, dove gray and sand faces, all with bracelet straps.
At Breitling, the percentage of watches equipped with steel bracelets increased from 52 percent in 2020 to nearly 54 percent in 2024.
“While there hasn’t been a significant change for men’s watches during this period, there has been a substantial increase for women’s watches with steel bracelets rising from 47.2 percent in 2020 to 59.2 percent in 2024,” said Kern.
“In recent years, retro-inspired designs have become increasingly popular, which has led to renewed interest in steel bracelets and nostalgia for sleek designs of the past. At Breitling, we call this modern-retro, which means contemporary watches that are anchored in their past by faithful design elements,” he added.
In 2020, the brand relaunched the Chronomat, a model originally designed in the ‘80s.
Kern recognizes that even though fashion trends are inherently cyclical, “cultural shifts and on-screen representations may influence consumer perception,” he said.
“Gen Z have a growing obsession with the corporate world of the ‘90s and ‘00. Steel watches tie into trends such as business casual and office siren taking off on TikTok,” said Peter Bevan, a London-based stylist.
“The younger customer tends to shop pre-owned rather than brand new, so stainless steel watches are rising in popularity as the durability means they stay in a good condition for longer,” he added.
As demand for the most in-demand watch brands has waned slightly in recent months, the secondhand market also has seen a slowdown, unlike in designer handbags. Only luxury watches with sentimental value are holding their own in the market right now.
In a January report from Morgan Stanley and WatchCharts, prices for secondhand watches decreased in the fourth quarter for the seventh consecutive time. Last time peak prices were reached was in May 2022.
Fourth-quarter prices fell 2.8 percent, which affected the big three brands — Rolex, Patek Philippe and Audemars Piguet — as well as other luxury watch labels.
Even though Richemont‘s watch stable experienced the largest fall in secondhand prices, Cartier proved to be the group’s number-one brand as it was the only one to witness a price increase of 1 percent in the secondhand market.
In 2022, Cartier accounted for 39 percent of the group’s watch sales.
“It feels like the low-key Cartier Tank with a leather strap has been the watch of the moment for quite some time — a favorite of celebrities like Paul Mescal and Jacob Elordi, but with the growing desire for silver jewelry and the move away from quiet luxury, steel watches are set to be the next big thing,” said Bevan.
Clearly, celebrity helps power the watch market, as it does in fashion these days. Take the use of watches in movies as a trend-setting example.
On the silver screen, steel watch bracelets generally have been reserved for the bad guys while leather strap models are sported by good guys. Take a quick look at the wrists of the heroes in leather: Matthew McConaughey wearing a Tag Heuer Monaco in “How to Lose a Guy in 10 Days”; Christian Bale sporting a Jaeger-LeCoultre Reverso Grande Date 8 Days in “Batman Begins,” and Will Smith’s Hamilton Ventura in “Men in Black.”
Meanwhile, the villains, or misunderstood characters, tend to accessorize with a cold-as-ice steel bracelet, such as Barry Keoghan’s Casio watch in “Saltburn”; Al Pacino’s Omega La Magique in “Scarface”; Leonardo DiCaprio’s Tag Heuer Professional 1000 from the late ’80s in “Wolf of Wall Street,” and Bale’s Seiko 5 SNXJ90 in “American Psycho,” which to the untrained eye resembles a two-tone Rolex Datejust 16013.
Beyond film, brands have long turned to celebrities to serve as faces. For instance, Jennifer Lawrence fronts Longines, Zendaya works with Bulgari, Ryan Gosling has teamed with Tag Heuer and Omega has a large stable of ambassadors that includes Nicole Kidman, George Clooney, Zoe Kravitz, Daniel Craig, Cindy Crawford, Zhang Ziyi and more.
Coach recently tapped Boston Celtics forward Jayson Tatum as its latest global ambassador, posing in the brand’s spring 2024 watches and sunglasses collections. Elsewhere, in 2022, Bradley Cooper became Louis Vuitton’s first dedicated brand ambassador for watches; “Bridgerton” star Jonathan Bailey joined Omega as a friend of the brand in 2023, and last month Hublot took an intellectual and interesting turn in naming Chinese architect Ma Yansong as an ambassador instead of a celebrity with a large social media following.
Watch brands’ reach extends beyond film and music to sport as well. During the Wimbledon Championships, tennis players are very quick to swap their white wristbands for their luxury watches.
In 1988, when Swedish player Stefan Edberg beat Boris Becker, he was wearing his silver Rolex watch throughout the match.
On May 13, eight watches belonging to racing legend Michael Schumacher will hit the auction block at the Four Seasons Hotel des Bergues in Geneva.
Watches for grabs include the F.P. Journe Vagabondage 1 Model from around 2004 featuring a leather strap with a striking red dial commemorating his seven world titles. Housed in a platinum case, the watch contains an 18-karat gold wandering hour movement and features the Ferrari logo as well as Schumacher’s distinctive helmet. It was commissioned as a gift by Jean Todt, at the time general manager of Ferrari’s racing division.
The driver’s bespoke Audemars Piguet Royal Oak chronograph with a white-gold dial and a matching steel strap is another one going under the hammer. The watch features the Italian automotive manufacturer’s prancing horse emblem on the seconds subdial, while the German driver’s helmet is depicted on the 12-hour register and the “1” on the register dial is surrounded by six stars marking his wins. It is also engraved with a dedication on the back.
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