Quietly but confidently, Cyrus has been gradually gearing up for an international redeployment. Under the leadership of industry veteran Walter Ribaga, the brand is laying the groundwork for expansion to every continent. On the back of its strong presence in the Middle East (Qatar, Doha, Abu Dhabi), and its standalone Cyrus boutique in Macau, the brand is now heading west. The ultimate aim is to reboot its commercial coverage on the American continent.
The WatchTime test
The brand is cautiously moving its pieces into place. In May, with nothing more than a note on its Facebook page, Cyrus announced its participation in WatchTime, an event targeted at collectors of independent watch brands. “There had already been events in New York and San Francisco,” explains Walter Ribaga. “Our participation in Los Angeles helped us to confirm the relevance of the format, and to meet collectors and a few retailers directly.”
A year of preparation
But this exhibition is just the visible part of Cyrus’s American strategy. Walter Ribaga, who used to work for Les Maîtres du Temps, already possessed in-depth knowledge of the local market.
When he took over as Cyrus’s managing director two years ago, Walter Ribaga selected a local agent – EsperLuxe – within the first three months. Then, at Baselworld 2019 in March, the brand unveiled its latest designs to its American prospects. Two months later, WatchTime provided an opportunity to show them to collectors “in the flesh”. On the strength of those contacts, Cyrus was able to plan its commercial redeployment. Roll-out will begin next September in Florida and California. And Cyrus also confirmed it would be present at the next WatchTime event, in New York in October.
Reassuring the market
This geographically diverse (east coast, west coast) and multi-channel (retailers and collectors) approach will that Cyrus returns to the United States on a healthy footing, and with relatively modest outlay. “We mustn’t forget how difficult the market is locally, and in the rest of the world, thanks to the actions of the big names of the independent watch industry, like Audemars Piguet and Richard Mille. These brands close down points of sale by the dozen to benefit their own boutiques,” notes Walter Ribaga. “We thus have to deal with the reluctance of retailers who are losing the prestigious brands that brought them considerable guaranteed revenues, thanks to which they were able to represent commercially riskier niche brands such as Cyrus.” Hence the strategy adopted by the Swiss brand, to go out and show its face, make contact, and be reassuring.
And there is no shortage of arguments in Cyrus’s favour. “I continually emphasise that we’re a 100% independent family firm, owned by a Swiss family of watch lovers, not by a pool of foreign investors looking for short-term profits,” points out Walter Ribaga. “For the last year I’ve also been pushing Jean-François Mojon, a highly respected name in Haute Horlogerie, whose reputation needs no introduction (Harry Winston, MB&F, Hermès, etc.),” continues the CEO. “Finally, Chronode, our integrated manufacture, founded on Jean-François Mojon’s initiative, is also a partner of those same brands, plus LVMH, Richemont, Urban Jürgensen, Czapek and dozens more. Who else can say as much?”
