LVMH Watch Week Straight From the Source

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LVMH Watch Week Straight From the Source - Hublot
6 minutes read
Interview with Ricardo Guadalupe, CEO Hublot

This week is LVMH Watch Week 2023 and WorldTempus is in Singapore for all the action. Today, we are with Hublot’s CEO Ricardo Guadalupe to discuss the event and all the brand’s new watches of course!

This is the third edition of LVMH Watch Week. How do you feel about being here for the year's first watch launch?
It's definitely very cool to be here, to do something outside of Switzerland, and also to be here in Singapore, in a part of the world where the watch business is very dynamic. You know, Southeast Asia was unbelievable for us last year, from Singapore to Malaysia, Thailand to Vietnam, Indonesia and beyond. As you know, we have a partner here, The Hour Glass, and they have done an incredible job for us. Honestly, to be back here physically, presenting a few novelties, and meeting the press and the team from The Hour Glass, is great. 

Industry observers and experts often point to Singapore as being really special in the watch business globally, not necessarily in terms of volume, of course, but in terms of influence. From your perspective, what does Singapore specifically bring to the table for a brand that's as global as Hublot?
I think the maturity of the consumers here is unbelievable. Here, you have some of the most sophisticated consumers in the world. I see this when we meet with our clients. I was also here in October, and we did a dinner with around 60 or 80 people, and what I saw their wrists was quite unbelievable. I saw Rainbow watches, our high-end sapphire crystal watches, and complications. The level of watch appreciation is something you don't see elsewhere. They push the limits here too; you see Rainbow watches on men as well as women, even though you would conventionally expect to see these watches on women. I'm also very impressed by the respect that consumers have for the brands when they attend events — everyone comes wearing watches from the hosting brand. It's really nice to see and I think an amazing example for other international markets. 

LVMH Watch Week Straight From the Source

It's so cool to hear that over here you can see really extravagant pieces on both men and women. You can sense that people feel confident with Hublot, they feel like they can experiment, they can be audacious, and they can have fun with what they choose to wear. Would you agree?
This is truly enjoyable, I must say. You know, I work in product development as well. When you see all the watches, that we have tried to create to set ourselves apart from other brands, on people’s wrists, you get a really positive feeling. It is very exciting and it gives you the motivation to continue along the same path. 

Moving on specifically to the new launches – we all know that these things are planned years in advance – but I just wanted to point out that we're hearing a lot of talk about how 2023 could be a challenging year for businesses. At the same time, I see great optimism in the pieces that you are releasing this year, even right at the beginning of January. So, tell us about your projections for Hublot, in terms of business in 2023?
I would say that we are cautious, because, of course, we want to be realistic. We did incredibly well in 2022, so huge congratulations are due to my amazing team. The results in 2022 were beyond our hopes, even if every year is a record year for us in terms of growth. So, it has been the same for us again in 2022 — we had an amazing year. But we still see challenges in the US and China, not to mention the Ukraine situation. We are looking at the economic indicators, and we do have to be a little cautious; we believe growth will be flatter for us this year, compared to 2022. Anything more, and we would be very happy with that. If China resumes travel again in 2023, that could be a nice surprise. 

Let's touch upon some of the new releases that we have seen from Hublot. We are seeing a continuation of the black and gold aesthetic that we have seen in recent years. It was kind of a throwback to the earlier decades of Hublot, especially from the perspective of those who have been following the brand for some time. Can you tell us about this?
Yes, absolutely. Overall, I think we can see that there is a trend towards watches that are more understated in design, with a classic yet sophisticated approach. And it is true that the Classic Fusion, which was created in 1980, corresponds quite well to today's aesthetic trends. That's why we're coming back to this watch, which we stopped producing in 2005. Trends in the watch industry tend to stay around a bit longer than in the fashion world. So, I think that after almost 20 years, it's time to come back to our roots. This new interpretation of the 1980s Hublot is also in line with the shift in consumer preference for smaller, slimmer watches. 

LVMH Watch Week Straight From the Source

That brings me very nicely to my next question! You have this side of the new launches that is bringing back pieces and designs from the archives, which reinforces awareness of the brand history. On the other hand, you have the avant-garde pillar of Hublot, the exciting realm of materials innovation. I'm referring, of course, to the Big Bang Tourbillon Automatic Yellow Neon Saxem. How do these two directions come together?
At the end of the day, the Big Bang collection is our iconic line, and we still have a huge number of consumers that still want something very unique and disruptive, where you can take risks with design and materials. We were not the first brand to introduce a watch in sapphire crystal, but we were the first to really industrialize it, to produce these watches in the hundreds rather than small limited editions of 10 or 20 pieces. We have been doing this since 2016, and we have also been pioneers in coloured sapphire crystal. This year, we wanted to have this luminescent neon yellow colour. You can see how incredible the result is. This is not fully sapphire, since we had to introduce some other minerals in order to get that precise colour, so we use the name SAXEM [a proprietary term derived from "Sapphire Aluminium oXide and Rare Earth Mineral"]. But as you can see, the result is quite amazing. It is limited to 50 pieces and is powered by our Tourbillon calibre, which has the microrotor at 12 o'clock and sapphire bridges. The movement really becomes a part of the watch design. 

LVMH Watch Week Straight From the Source

Moving on to something that I am sure is very close to your heart, the Sorai editions. You have just launched the third watch in support of this very meaningful foundation. How is Hublot continuing to evolve in this partnership?
The idea is really to have sustainable projects that protect the planet. We want to create something that gives back to the earth. And in this case, we are supporting the protection of an animal, the rhino. And when we choose a project, we want to act strongly with that project — we don't do things halfway at Hublot. We will continue to support Sorai with whatever they need, of course. We contribute to their financial power, to be able to train more rangers, to get more resources in fighting back against the poaching of rhinos. At least every two years, we try to do a watch like this to support them and give a substantial amount to support their activities. 

LVMH Watch Week Straight From the Source

 

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