OUR JOURNEY SO FAR
Dear Project Woodworks’ supporter,
We would like to express our gratitude to every one of you for the support and belief in our company since our inception in September 2016. It’s been an exciting journey for us, yet at the same time, it is also a tough challenge for us to operate as a wooden-watch brand here in Malaysia.
Before we officially launched our wooden-watch range, we had spent almost 1 year on research and development, visiting different manufacturing partners, and drilling deep down into the watch details.
Fast-forward to 2018, we have launched our 3rd watch collection to-date, which is the [Prime] collection. We would say this is by-far our most sophisticated and versatile watch design, as we are having a wider range of wood choice now (Dark Hardwood, Walnut Wood and Zebrawood) matched with multiple color variety of NATO Strap (you will see the latest color below).
Priced at RM399 per watch, we would say our watches are put at a fairly competitive price compared to other minimal watch alternatives (all the big international brand that you will usually see).
Most of the time, the price of our watch is at least 30-60% lower than their brand. However, we realized that consumers are
…typically more wary of the quality of watches produced by a local brand, and tend to undervalue the local brand’s merchandises due to this perception.
Thankfully, over this 18 months journey, we manage to prove to our supporters (and also doubters) that our watches are on-par with the international watch quality standards.
Both of our wooden watch collection were sold out by now (Luxoré is sold out by end of year 2017, while Shivelight is sold out last month). The majority of our customers have given good feedback on how special the watch is, and how it exceed their expectations towards the functionality of a wooden watch.
One noticeable feedback from our supporters is how
…wearing a wooden watch will garner the attention of other people, and it’s a good conversation starter with strangers!
NEW PRICING MODEL
Referring back to the previous point, we are not trying to undermine the local consumers and say that they are not supportive of local brands. In fact, most of our watches are bought by Malaysians that are avid-fans of local-brand products.
70% of our watches are bought by local Malaysians, while the other 30% are made up of foreign buyers such as travelers from the US, UK, Japan, Canada, Singapore and more!
By May of 2018, Project Woodworks have decided to take a bold step on the pricing model for our watches. We are offering a pricing model which is more value for money to all our supporters and potential customers. Having said that, we are going to make the following adjustments:
- All [Prime] watches now come with 2 NATO Straps of your color choice, at the same old price of RM399.
- All 34mm sized [Prime] watches will be adjusted to a new pricing of RM369. 42mm sized [Prime] watches remain at RM399.
You must be wondering how we can add more value to our watches when the market is turning bad, economy is volatile and the overall market sentiment is not that good due to many uncertainties in our country (elections, scandals, etc).
As the inner parts of our watches (the mechanism, case molding) is mostly done at foreign countries, we need to deal with our manufacturing partners using a global currency, which is the US Dollar (USD). At 2016, our cost has skyrocketed due to the fact that 1 USD is equivalent to almost 4.50 MYR at that point of time.
In fact, it had been a miracle (and strong perseverance from our team) that we managed to pull through during that tough time.
By now, our currency has strengthened to a rate where 1 USD is equivalent to around 3.95 MYR after bank charges and conversion. With the cost saving coming from the growing MYR currency, we are able to translate that into better value for money offering to all of our customers.
With 2 NATO straps now, you can easily interchange the [Prime] Wooden watch into colours that can fit into your daily outfit! We believe that the versatility offered by [Prime] is what makes the watch stands out from other alternatives, and at the price of RM399, we hope that this offer is a good bargain for you!
We have some good news for the Luxoré watch owners too! Just drop us an email at firstname.lastname@example.org and we will give you a special discount code where you can get the new NATO straps range at RM40 (free shipping) only!
For all the newcomers, if you are keen to try on [Prime] Wooden Watch, make sure that you subscribe to our newsletter (the black box that pops out at our website) to enjoy a 10% off on your first purchase with us :)
Last but not least, we are launching our 5th NATO strap color in conjunction with this new pricing model! The Black Ops NATO strap, enriched with the black & cool grey color-way, pays tribute to James Bond, where he have worn this strap with his OMEGA watch during the movie!
We are thankful to everyone who have supported our brand during our highs and lows. On behalf of everyone at Project Woodworks, thank you so much for supporting our #StyleSustainably mission.
The way you style can change the world, one product at a time.
Wallace & Bryan
Co-Founders of Project Woodworks