Favre-Leuba Titan awakens Swiss Sleeping Beauty Favre-Leuba
Our Indian correspondent quizzes the Indian owners of Favre-Leuba about their plans for the brand.
Favre-Leuba, a pioneer in watch design, manufacturing and distribution, is the second-oldest Swiss watch brand. In 1865 and 1867, Fritz Favre travelled to India and launched his brand in the subcontinent, which was to quickly develop into an important market for Favre-Leuba. Although familiar to generations of luxury loving Indians, it is only when the Indian watch giant Titan acquired Favre Leuba in 2011 that the brand started to gain traction in India.
According to Bhaskar Bhatt, managing director of Titan, the group acquired Favre-Leuba “because of its rich heritage and history of watchmaking. The brand had a good recall value in India but needed to be revived as sales were almost zero. Titan doesn’t believe in just taking over brands but in building them with care and resources. Being a technologically sound Swiss brand, Favre Leuba was the perfect choice for Titan.”
For Ravi Kant, CEO of the Watches & Accessories division of Titan, the marketing strategy for Favre-Leuba will be different than that for Titan in general. “Rebuilding desirability and restoring confidence in the brand is the key to success,”he says. “What makes Favre-Leuba different from other brands is that in spite of its timeless heritage, the brand is forward-looking.”
The goal for Favre-Leuba in India is to become the market leader in its price segment and the Titan executives are convinced that they have the right mix to make that happen. They are taking each market seriously and consequently they are resisting the temptation to jump into all markets at once. Since the brand is already blooming in Japan and the UK, their efforts are focused on enhancing their presence in those markets.
Thomas Morf, the CEO of Favre-Leuba, aspires to make it the number one Swiss watch brand for the Indian consumer. According to him, the key to success in the Indian market is to re-ignite the bond that the brand has shared with the Indian consumer. As for global markets, the aspiration is to be the leading watch brand in its niche with a strong and unmistakable image.
Favre-Leuba is the second-oldest Swiss watch brand and traces its origins to the workshop of Abraham Favre in Le Locle, which was first officially mentioned in 1737.Find out more >
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