Raphael Granito, CEO of Formex Watches, has just announced that the brand will be increasing prices on many of its models on May 26, 2022. Granito communicated the increase with an email to existing and potential customers to provide ample warning and give the opportunity to get a model at current prices. We can exclusively report that the increase will mean an 8% bump for steel Essence models (from a base of $1,280 to ~$1,330) and 4% bumps for the Reef and Field models (respectively, from $1,670 to ~$1,735 and $795 to ~$827). Other models are not slated for increases.
The Formex increase is attributed to price increases from the brand’s suppliers (including movement suppliers) and the strength of the Swiss Franc. It’s unlikely that this is the last brand we’ll hear from with a price increase—we already heard from Christopher Ward in March—given that there’s no sign of supply chain issues improving. In fact, I’d say we should expect price increases from most brands as they pass on their increasing costs.
Even at the new price points, and having reviewed all of the brand’s models, I think the watches present an incredible value given their design and innovation. If you’ve been on the fence about snagging a Formex, now is the time to pull the trigger. You can explore the entire collection at the brand’s website.
