- Could Made in China become the new Swiss Made?
- Watchmaking’s after-sales headache
- One World, One Dream
- The endless quest for watchmaking precision
- Looking back in wonder
- Magic meets emotion at the Spring watch fairs
- The Swiss watch industry is bursting at the seams
- History repeats itself…
- The ultimate luxury of a bespoke watch
- Swiss watchmaking is running after its lost generation
- Swiss watch brands take industrial action…
- The quest for the eternal watch
- Fine watchmaking, made in Germany
- From outer space to inside your watch
- All that glitters…
- Swiss Made in the spotlight
- Basel and Geneva have their finger on the industry’s pulse
- Distribution networks are a genuine open sesame for watchmakers
- 2006, a year of superlatives for the luxury watchmaking industry
- On the necessary industrialisation of Haute Horlogerie
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Who sells Haute Horlogerie watches?
Following the example of the major groups in the sector (Swatch, LVMH, Richemont) which, given the scope of their activity, are backed by worldwide integrated distribution networks, Haute Horlogerie companies are constantly looking to extend their own sales networks, especially in emerging markets such as China, Russia or India where Swiss watches are beginning to take off. Distribution is equally as important in the high-end segment, as inevitably customers are won over to the product through the point of sale. If Haute Horlogerie companies expect the values associated with their watches to be correctly conveyed to the end customer, then they must accept the crucial role of training sales staff. And of course, training gives best results in boutiques within the brand’s own sales network. For this reason, Haute Horlogerie brands have multiplied the number of boutique openings over recent years. Alternatively, companies are seeking to build long-term relationships with their partners, regional wholesalers and local retailers.
The brand’s philosophy
Distribution is, without doubt, a key factor for Haute Horlogerie, which exports over 95% of its production compared with the 5% sold in Switzerland. It is also one of the major stumbling-blocks for newcomers to this segment who must track down reliable retail partners. This means partners who understand the brand’s philosophy and can therefore better position it in a market where competition is rife (see the section on "Training"). Only then can they envisage opening boutiques, given the costs entailed and the years of waiting before any return on investment. Because without sales, even the most accomplished creation might just as well never have existed (Haute Horlogerie distribution networks will be the subject of next month’s "Focus"). (C.R.)■
