nyone interested in the history of watchmaking will be familiar with Czapek - a name that goes back to the mid-nineteenth century when Patek, Czapek & Cie were producing fine quality pocket watches for the great courts of Europe. Then, inexplicably, all trace of Czapek, the man, was lost.

Thanks to the tenacity of three dedicated entrepreneurs, in the mid-2010s the name was revived. In less than a decade, the brand has won a following among fans of independent watchmaking. We sat down with its Chief Executive, Xavier de Roquemaurel.

Xavier de Roquemaurel

Europa Star: The name is old but Czapek is still a young brand, having released its first watches in 2015. Growth has been strong these past two years. Why do you think that is?

Xavier de Roquemaurel: There’s no secret recipe, no magic ingredient. First of all it’s thanks to unwavering patience that Czapek is beginning to reap what it has sown. We set out with a clear idea and have never strayed from that path, despite the difficulties encountered in the early days. It takes resilience to get through the first five years and become recognised by watch connoisseurs. Secondly, we have always focused on beauty, because beauty is never banal. Our timepieces differentiate us; they are where our originality lies.

Thirdly and importantly we have a fantastic community of shareholders. The decision to launch the brand through equity crowdfunding was decisive. Our shareholders have become our customers, as well as our ambassadors, our advisors and our friends. This coming-together of motivated, enthusiastic individuals was a blessing. It meant we were able to set initial volumes at between 40 and 50 watches a year, from where business developed naturally. The Antarctique was suggested to us by shareholders. They are a unique strength that we have harnessed for growth.

The Antarctique Révélation with skeleton dial

Last year you stopped taking orders for the Antarctique, so you could keep up with production and deliveries.

As soon as we launched the Antarctique, we were inundated with demand. We reached a point where we had to pause orders. We now regulate demand by accepting only a limited number. We started taking orders again at this year’s Watches and Wonders and once we had reached the maximum we had set, we closed the order book. It means we can keep production times within reason. There is a two-year wait for the Antarctique and one year for our other models.

Displaying all the colours of Only Watch 2023, the enamel pattern on the one-off Place Vendôme Complicité is inspired by ripples on the surface of Lake Geneva.

Where are your markets and who are your customers?

We have a good regional balance, with 35% in Europe and 20-25% each in Asia and the United States. Per country, our main market is the US, followed by Japan where we’ve always had a loyal following. Our customer profile has evolved over time and as we gain industry recognition. At first we only attracted the most on-point collectors, the ones who had already assembled a substantial collection and were looking for something new. Now Czapek watches are more widely known. Collectors have also seen that they retain their value. An Antarctique Terre Adélie Secret Alloy went for CHF 26,000 at a recent Christie’s sale, which is 44% more than the original price. This widens our attractivity to include collectors who are more accustomed to the major traditional brands. We’re also reaching a younger clientele, though our customers are mostly in the 40-50 age range.

Faubourg de Cracovie with aventurine dial

The market is strong right now. What’s your growth plan?

Our objective is managed growth. We aim to increase production volumes, which means our partners and supply chain must be able to keep pace. We’re also investing in our own production capacity and recently took delivery of our first CNC machine. We want to keep up this measured growth.

Product-wise, we have a number of developments planned. The Quai des Bergues collection will continue to explore the métiers d’art and modern dial designs. Place Vendôme will remain the vehicle for our contemporary vision of high horology. There will be no more limited editions in the Faubourg de Cracovie collection, which will focus on models that are more classic but with a modern edge. We will add to the Antarctique collection with complication and métiers d’art models. And next year we will launch a fifth collection that will represent our vision of high horology for 2025-2030. That’s all I can say for the moment.

Antarctique S “Carte des Nuages”

You’re a born optimist. Still, what challenges do you anticipate for the industry in the coming years?

The speculative bubble has been one of the main causes for concern in recent years. That now seems to have cooled somewhat. Czapek has held up well on the secondary market. The risk is still that of an overheated market. A major crisis in the United States would have a knock-on effect in other regions. Overall, though, I’m still optimistic. For the industry to continue to thrive, it must avoid repeating the damaging cycles we’ve seen in the past: ramping up production to meet increased demand, creating inventory through badly timed sell-in, then the speculative bubble takes over, crashes and you get an explosion in grey markets.

The truth is, interest in mechanical watches has never been greater. The smartwatch was supposed to sound the death knoll of the mechanical watch when in fact it has kindled young people’s interest in watches, in the idea of having an object on their wrist. There is a natural progression towards objects with greater emotional value, and the mechanical watch provides that. It has that strength.