How CRYPTOMATIC was able to go to market with one-third of the investment traditionally needed to launch a watch brand.
How to launch a watch brand with one third of investment required.
In 2013, CRYPTOMATIC had a unconventional idea: to create a premium timepiece that could only be purchased with the bitcoin cryptocurrency. They had in mind automatic movements, sapphire crystals, genuine leather, and didn't want to use an off-the-shelf body (case) design like most watch microbrands do. The watches had to be unique.
The project carried the risk of being very innovative in an unproven market, so the founder wanted to minimize the risk of unsold inventory as much as possible. At the time, Bitcoin was not as widely addopted as it is today, and definitely not as liquid. Keeping an eye on cashflow was crucial.
CRYPTOMATIC approached WatchMKR with some initial sketches and was surprised to find out how quickly they could be turned into real timepieces thanks for WatchMKR approach to production: on-demand micromanufacturing: a production system that would allow them to build watches from a small inventory of components that could be mixed and matched to create new models quickly and efficiently.
Enter The Cloud
WatchMKR internal ERP system (for Enterprise Resource Planning) known as The WatchMKR CloudTM was the enabler of the project.
Integrating the supply chain with assembly allowed CRYPTOMATIC to manufacture it's limited run collections without having to fully assemble all the pieces in advance, reducing the number of inventory and allowing the brand to allocate some of the resources for marketing and sales purposes.
Today's markets change too quickly to stock large quantities of the same product, by being able to iterate components to create new models, you can stay ahead of the game.
What would normally take months could be done in weeks.
The WatchMCK Cloud automatically matches the speed of sales with existing inventory levels and alerts you when it's time to reorder more components.
Also, our online watch configurator allowed CRYPTOMATIC to create new models by combining existing parts and create entirelly new collections that just required to design a few new components instead of a whole set.
Some of the advantages of using our production system:
- 1/3 of the initial investment
- unlimited customization
- on-demand assembly
- greater cash flow, less waste
To learn more about CRYPTOMATIC visit their web site »