BUSINESS PROFILE
Managing director, Fears
Nicholas Bowman-Scargill, Fears
“I’m setting up and the country decides to have a referendum on the EU”
Tradition, transparency and timelessness – three words that go a long way to describe the philosophy and style of Nicholas Bowman-Scargill, the fourth managing director of Fears watchmakers. Started in 1846 by his great-great-great grandfather, Edwin Fear, the company ran until 1976, when it closed its doors. Then, almost 40 years later, at a fateful Sunday roast, Nicholas decided to restart the business. Here, he tells us how that came about and why time certainly isn’t up for the humble wristwatch.
Did you always want to work with watches?
No, I wanted to be a train driver. Even to this day, I’m an avid reader of Rail Magazine. I grew up interested in watches, but I didn’t really know [making them] was a profession until many years later. So, it wasn’t my original dream, but it became my ambition later on, in my twenties.
You could say you changed track…
Exactly!
Do you still think about being a train driver?
When I was looking to change careers in 2010/2011, I researched both that and making watches. I preferred the sound of being a watchmaker — working in a workshop in a quiet environment, being very precise — whereas the shift work involved in being a train driver didn’t appeal to me. Maybe one day I’ll sell the company and retrain…
How many watches do you own at the moment?
Eight. I was lucky enough to have a good collection, but I had to sell them all to fund the business. I’ve realised it’s not about quantity; it’s about quality. I have some watches that I never wear, but they have huge sentimental value and I’m an old romantic at heart. You don’t have to wear it to enjoy it.
What’s the best part about being a watchmaker?
The most satisfying thing is to point [and say], “I repaired — or built — these watches,” and being able to make things that were broken work. I create beautiful mechanical objects that will outlive both you and me. My husband and I have no plans to have children — our careers are our legacy — so, to know that right now there are hundreds of watches around the world on people’s wrists bringing them joy, and they only exist because I was crazy enough to restart my family’s watch company, that’s satisfying.
Can you tell me about your training?
I was going to work for Deutsche Bank as an investment banker in 2008, just as the entire world I’d been training for blew up in my face. I was lucky to get a job working for a PR agency. I moved back to London and, after four years, I realised I didn’t love [my work], so I decided to retrain in watchmaking. Rolex took me on, and I did a five-year apprenticeship with them. It was brilliant! You’d be taught one job and for three weeks you’d do that over and over again. I never actually finished [the apprenticeship] because, two and a half years in, I discovered that my family had run the west of England’s largest watch company in the past. Over Sunday lunch, while my mum was serving the roast potatoes, she jokingly said, “Why don’t you restart the family watch company?”
So you didn’t know about the family business?
When I was applying to Rolex and other brands, my family had said it must be in the blood. I didn’t realise they [my family] had run a watch company which used to employ a hundred watchmakers and sold watches to 95 countries around the world. I wouldn’t have discovered it if it wasn’t for that roast potato comment.
You’re very transparent about the company being closed for 39 years. Why is that?
That comes from two places. One is most of the watch industry bases far too much on heritage and [companies] say they’ve been going for 200 years. Those 39 years where it was closed are part of our history. The other reason actually comes down to me as a person. I came out when I was 13. I remember being, like, “Sod this! I’m not going to live a double life.” And that’s transformed me.
What challenges were there when you were relaunching the company?
All the obstacles you face when you start a business, and added to those, I restarted the company with £30,000. Then, I was setting up, and the country decided to have a referendum on the EU. Overnight, the exchange rate changed to a tune of about £8,000, so I had to sell even more possessions. Then, only a few years into the business, there was a global pandemic. We had several months of no sales, and my accountant said we had three months or so before we ran out of money. I refused to make anyone redundant, so I took a 100 per cent pay cut to buy an extra month or two of cash reserves. The day after we went into the first lockdown, I started my first eight-hour night shift at Asda. I did that for five nights a week, would go home, run the company for eight hours and then sleep for eight hours.
What was that like?
Tough. It would have been so easy to close down. Right now, the business is doing very well. We’re growing rapidly, orders are strong and [we’re] developing new products. I’ve never had to work as hard as I have during the pandemic. I was at Asda for three months; I won’t lie, it was the toughest work I’ve ever done. I have so much respect for anyone who can wake up at midnight, do a job like that on minimum wage, and do it all again the next day and the next day.
Where do you want to take Fears?
I want this to be an example of “good capitalism”. I believe in making profit because it allows you to grow and do things. But
I also believe strongly in having a robust welfare state, which sadly we don’t have at the moment. We as human beings are so much more enlightened today about race, LGBTQ+ [issues] and so on. Business needs to be as well. Good capitalism basically means we make money, but everyone along the way benefits.
We live in a digital age. Are you worried about the future of the watch?
Not at all. Actually, more and more watches over £3,000 are being sold every year, and the reason is because you mark big moments like a promotion, getting married, graduating,
with an item. Apple makes more watches than the entire Swiss watch industry put together, and that is only a good thing. I’m very happy that both my parents wear smartwatches because they’re in their 60s and 70s. But also, we’re seeing more and more younger people wearing smartwatches. And that’s brilliant because they’re being introduced to this idea of wearing a watch. So no, I’m not worried. Watches stopped being relevant decades ago. I’m proud to say we make a product nobody needs, but they want.
Are they exclusive, though, because of their price?
Not necessarily. If you consider what people spend on cars, the watch will be with you for longer. It seems a lot of money for one item, but it’s one you can keep getting repaired. I’ve had most of my shoes for ten years because they’re of a quality [that] they can keep being repaired. It’s the same with watches.
Has being gay impacted you professionally? No. Like many gay people, I’ve had homophobic comments and all of that.
But in business, I’ve been very lucky. I run a watch company that happens to have a fantastic, 175-year heritage. I just happen to be gay.
This is for our style issue — how would you describe your personal style?
“Old-school elegant”. I wear a tie every day I’m working in my office. It’s about looking your best. I’m six foot tall, but I’ve got a 30-inch waist. I know that my body does not lend myself to wearing T-shirts or short sleeves, so I dress in a style that is befitting of my physique and, wearing a tailored shirt and a jacket, I know I look my best.
What are the key elements for you?
I only wear shirts that have a full, cutaway collar, and a pocket square — never, ever wear a jacket without a pocket square! As Ralph Lauren used to say: “Last thing on, first thing noticed.” It shouldn’t look affected and you shouldn’t fold it in a fancy fashion. And third, a watch.
A potential business idea for you. Have you considered doing a Pride watch and calling it Fierce by Fears?
Oh, I like that! I’ve always thought I’d quite like to do a watch that has 12 gemstones set at the hour markers and to auction it off for an LGBTQ+ charity. Maybe one day…
“I’m proud to say we make a product nobody needs, but they want”