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On the road to Mandalay…
Economy

On the road to Mandalay…

Monday, 03 December 2012
By Quentin Simonet
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Quentin Simonet

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3 min read

Watchmakers are heading for pastures new and countries that will be all the rage in five, maybe ten years’ time. Nations that will one day join the ranks of “emerging” countries.

To explore time and space is to push limits, expand horizons and embrace another future. Explorers travel the world and the seven seas into uncharted territories. Like Odysseus on his epic journey home to Ithaca, watchmakers have cast their gaze far afield, though not before scrutinising the exotic countries that dot the map like confetti. From the poles to the tropics, from Capricorn to Cape Horn, they have immersed themselves in new fragrances and flavours as they set their sights on countries filled with magic and promise. No stone unturned, cry the CEOs who travel thousands of miles each year, soaking up the local colour and regionalisms, thinking global and acting local, as the saying goes. Thus brands seek opportunity far from home, sowing seeds that will one day give fruit.

An age of exploration

And so watchmakers have embarked on an age of exploration. Already, they have settled in Chinese cities whose names, however unfamiliar to our ears, are home to millions of people. Cities that economists refer to as second-tier, third-tier, even fourth-tier; a denomination that belies their horological potential. Joining them are some unlikely venues such as stores at 3,000-metre altitude, seasonal outlets, pop-up stores, even floating boutiques. Not to mention shops in places straight out of a book by Swiss writer and globetrotter Nicolas Bouvier. Watchmakers are mapping out their very own silk road towards the former Soviet states such as Tajikistan and Uzbekistan.

With giants such as India and Brazil still to deliver on their promise, once tariff barriers and shaky infrastructure are a thing of the past, watchmakers have, in the meantime, set their sights on countries that will steal the limelight in five, maybe ten years’ time. Countries which haven’t yet joined the “emerging” list but one day will. Starting with the Philippines, where Hublot has set up shop in Manila, the flamboyant and chaotic capital. The 40 sq-m space, kitted out in Hublot Black, is part of the new Bonifacio High Street Central, reputed to be the city’s finest shopping mall. The store was launched in conjunction with Lucerne Jewellers, a long-standing local partner to the LVMH brand.

From Pakistan to Peru

TAG Heuer, meanwhile, has teamed up with Daya Group to open its third-biggest point of sale, in the Iranian capital Tehran. The 160 sq-m store comes hot on the heels of openings in Surabaya, Indonesia’s second-largest city, and Karachi. Ten years ago, who would have credit Pakistan’s former capital as offering prospects? Nor does the brand intend stopping there. It has set itself a medium-term objective of 300 stores including four in Switzerland and some three dozen in China, says President and Chief Executive Jean-Christophe Babin.

Peruvians are epicureans who appreciate beautiful things.
Antonio Calce

Corum has also embarked on its world tour. The brand recently dropped anchor in Peru, another unusual port of call for watchmakers. CEO Antonio Calce is adamant: “Peruvians are epicureans who appreciate beautiful things, and of course Peru is an important step in the development of Corum’s strategy within Latin America. Peru is a fast-growing market and one that means a lot to me.” While the global economy still stutters, there is no doubt in watchmakers’ mind: growth doesn’t fall from the sky, you have to go out and grab it, coax it, and even multiply it. A fact that hasn’t escaped Swiss watchmakers, on the road to Mandalay…

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