What are your initial impressions of the brand, a few months after arriving?
Following on from some necessary strategy adjustments, the direction we’ve taken is based on the brand’s strong points, as revealed by an in-depth look at our history and distinctive characteristics. The art of Restoration allows us to anchor all our innovations and activities in the discoveries and knowledge acquired by master watchmakers throughout history.
What is more, the support of our Watchmaking Center, which safeguards all the expertise of the watchmaking trade, is what makes us stand out in a highly competitive environment. These elements are at the foundation of the direction we’re taking the brand to ensure a promising future.
What are your sources of leverage for growth?
We’ve identified a major opportunity on the Asian market – one that hasn’t been properly exploited so far – so we’ve decided to scale back our investments in Europe and increase them in Asia, the USA, and the Middle East.
We’ve just opened a new Boutique in the heart of Shanghai, in the prestigious Nanjing Road – the pedestrian artery of the city and one of the busiest shopping streets in the world. This outlet is a showcase for the brand’s most important timepieces, as well as a service center. We’ve also had an excellent meeting in Macau, gathering all the retailers and resellers from China, Taiwan, Macau, and Hong Kong.
In a related development, after 10 years of flying high in European skies, a new adventure is now dawning for Parmigiani Fleurier’s hot air balloon: “Time is Flying” is off to Asia, where it will be taking the Brand’s colors aloft above the skyscrapers of Hong Kong.
And to conclude, we’ve just opened new offices in Coral Gables, Florida in the USA. Our German subsidiary is growing substantially, too, and has become the center of operations for our European logistics.
Broadly speaking, how do you intend to move forward now?
We’ll be pursuing the development of our three main pillars: Toric, Kalpa, and Tonda. We’ll also be developing a unique restoration offer via major events tied in with museums and retailers. The most beautiful Swiss watchmaking pieces of the twentieth century were produced for China; the restoration of these pieces reflects our calling to nurture our watchmaking heritage.
In addition, social media – especially in China – is now playing a major role in Parmigiani Fleurier’s digital ecosystem. The Friends of the Brand help us reach specific targets in our strategic markets. Each Friend of the Brand covers a distinct communication territory relating to the interests of our customers. These include music, sports, technology, and good eating (with Ryan Leslie, Jessica Korda, Akrame, and so on).
What about the products themselves?
The Toric and the Kalpa remain iconic for the brand, and are still very much in the spotlight. At the same time, we’re looking forward to unveiling the guiding principles of the renewal that’s underway – one that will introduce you to new releases that are more “Parmigiani Fleurier” than ever!
What’s your take on the watchmaking market; is its recovery a reality or a fantasy?
The watchmaking market is healthy today; it’s moved on since 2015. We’ve seen a general economic slowdown since July, especially in Asia, although we ourselves are very satisfied with our growth in Hong Kong. There are of course major challenges ahead, but we remain confident that a brand like ours, with its strong roots, can face the future with assurance.
What can you say about your upcoming SIHH – your first?
It’s an important event for us – an extraordinary opportunity to mix with others in the sector. I personally look forward to discovering the SIHH after having been at Baselworld in recent years.
