You might think that the first watch in more than 25 years from Maira and Tibor Kalman’s storied M&Co brand would command a punishing sum. Or that sleek timepieces featuring Bauhaus legend Josef Albers’ artwork would likewise be forever relegated to your Pinterest page. In a world where “design” goods are off the table for so many cash-strapped consumers, you’d be forgiven for doing a double take at the humble price tag of those releases from Projects Watches: $159 and $199,...

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