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Garzouzi: No compromise on quality
Nicolas Garzouzi, CEO of Audemars Piguet for Middle East, says the brand is doing extremely well in the Middle East. The biggest market in the Middle East is the UAE followed by Saudi Arabia; Kuwait and Qatar are also very interesting markets for us and the Sultanate of Oman has a very big potential as well, says Garzouzi. Excerpts from the interview:
You have been with Audemars Piguet for quite a long time. What brought you to the Audemars Piguet brand?
After I graduated in 1992 from HEC in France, I joined the Lebanese distributor of Audemars Piguet in Lebanon. Since I first met with Audemars Piguet in Le Brassus more than 10 years ago, it was love at first sight. Few years later in 2003, we founded Audemars Piguet Moyen-Orient sal, a subsidiary of Audemars Piguet Holding, distributing AP in the Middle East, Africa, and the Caspian Sea markets.
How is Audemars Piguet faring in the Middle East – particularly the Royal Oak?
Audemars Piguet is doing extremely well in the Middle East – even in Dubai, which is more a tourist market, and in Saudi, which is more a domestic market. Like most markets worldwide the Royal Oak and its extreme, the Royal Oak offshore line, represent the bulk of the business. In the sports watches segment of the high-end market, we are but far the leaders of the industry whether in the Middle East or elsewhere.
Which of your watch models are the most popular in the Middle East? And Why?
The Royal Oak offshore line is the most popular model in the Middle East because of its recognizable unique design, virile and sexy look, and surely reliable movement.
How popular are the Haute Joaillerie time pieces in the region?
We manufacture very few pieces of high jewellery watches set with top Wesselton flawless diamonds, Burmese rubies, Colombian emeralds or Ceylan sapphires. We also create exceptional pieces made to order for royal courts both for men and ladies.
Do you intend to open more independent Audemars Piguet boutiques in the Middle East?
Middle East currently is the smallest region in the world that concentrates such a number of AP boutiques. We indeed have 6 AP boutiques and will soon open our 7th in Doha.
Could you please describe the Audemars Piguet customer profile in the Middle East?
75% of our customers are men. They are successful, free spirits and educated.
What is your favourite Audemars Piguet watch?
The one that I am wearing, a Jules Audemars time equation in pink gold exhibiting in addition to its perpetual calendar functions, the sunset and sunrise for Beirut city and bearing my initials.
Which Middle Eastern market is the biggest for Audemars Piguet? What are the markets that you think Audemars Piguet still have a lot of potentials?
The biggest market for Audemars Piguet in the Middle East is the UAE followed by Saudi Arabia; this is reflected in the statistics of the Swiss watch federation. Both Kuwait and Qatar also are very interesting markets for us and the Sultanate of Oman has a very big potential as well.
What kind of impact does SIHH have on a premium brand such as yours in the Middle East?
We consider our relationship with retailers to be a very important pillar for continual success. The Salon International de la Haute Horlogerie (SIHH) 2013 offers a valuable opportunity for us to enhance this relationship and create tighter bonds with our partners.
What are your expectations at SIHH 2013?
SIHH concentrates more than 50 per cent of our retail orders. The region is doing well in spite of the crisis and we expect to have a growth over 10 per cent over last year at SIHH.
What are the foreseen trends and directions in 2013? Any particular trends that your brand is keen on in terms of movement and or designs?
As we take pride in our unique know-how, we will be focusing in the coming period on returning to the basics of time making. As we build on such solid ground, we will be able to guarantee the exceptional quality that has always characterised our timepieces.
What are Audemars Piguet “star” novelties for this SIHH?
Every year, novelties are launched at the SIHH to push the boundaries of watch making a little bit further. In 2013, the world will be pleased to discover the ROO GC and the Tradition Tourbillon Minute Repeater Chronograph.
When would we expect SIHH novelties to be available at boutiques and POS in the Middle East? Will you display the new collection at the Doha Jewellery and Watches exhibition in Doha in February 2013?
Novelties are delivered simultaneously worldwide in our network of boutiques. Doha fair comes too short after the SIHH; yet we will bring some novelties but their delivery date is 1st semester 2013.
What is the AP’s new resolution for 2013 in the region?
Quality, quality and quality.