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You talk of innovations in watches and the first name comes to mind is Eberhard & Co. Since its founding in 1887, there has been no stopping in its efforts with regard to creativity and innovations. Be it Chrono 4 Geant or 8days, Eberhard & Co. always amazes its followers or others alike. Arabian Watches & Jewellery Magazine (AWJ) catches up with Eberhard & Company Chief Executive Mario Peserico for a candid chat with the regard to competitiveness, expansion and innovations in the current cut-throat competition era. Peserico underscores the need on building the brand recognition in the Middle East Below are excerpts from the interview with Peserico:
What is the source of success of Eberhard & Co. brand?
Since its foundation the company has been focusing on innovation. In this regard chronographs have always been the “heart” of this focus and between 1919 and 1940 the company developed some of the most interesting developments of this technical function. What is amazing is that Eberhard is still mainly focused on this and the Chrono 4 is the clear example of this, a unique patent and a unique design.
As a 125-year-old company, what is Eberhard & Co present day legacy?
I believe that our legacy is that even not being part of a big group with immense financial power, an independent brand with ideas, know-how and desire of challenges can still grow and add something important to the market.
Can you elaborate Eberhard & Co. motto “innovation with tradition”?
As I mentioned above innovation started more than hundred years ago when the brands were much less than now. To us tradition means nothing if there is no innovation because the market is now much more mature and saturated than 10 years ago; and you do not survive just with tradition.
On the other hand it is a concept that has to be preserved because it is a real patrimony and you can understand this by acknowledging how many brands pretend to have one. But the word is meaningless if not combined with progress; of this Chrono4 is not the only example. In 1997, we made the 8days that was the first long power-reserve (patented as well) in a 39 mm case with an incredible price/quality ratio. In the middle we had an anti-magnetic watch at the end of the 1950, a chronograph tested up to 9 G and antiG (the metric for “gravity” and “anti-gravity”) and many other ideas/patents from design to buckles, from bracelets to crowns.
You also take pride in the company’s 125 years of successful innovations. Looking forward, can you share Eberhard & Co. outlook with us?
Future of the company will be marked by the same criterion used in the past: Develop wisely investing mainly in the product than in the support of testimonials. One thing in fact excludes the other if you want to maintain a reasonable price positioning; and we still prefer to grow slower but consciousness than the opposite.
We are increasingly witnessing mergers in the industry. Being an independent company, can Eberhard & Co. maintain its creativity, competitiveness and expansion?
I do not think belonging to a group would help creativity or even independency (unless you are of very big dimension) can slow down expansion. But we know this and we like our situation.
Your collection is more of a masculine sport watches. How do you integrate female watches profile in your line of watches? What is the sale percentage of each collection; male vs female?
Eberhard & Co. used to produce female watches already in 1910 but definitely the predominance of the market for gents’ watches kept the ladies collections always in a corner. Then, two years ago, Mrs. Barbara Monti, who is the CEO of the company, had the inspiration of a new product, Gilda, that was something absolutely feminine but with a touch and the strength of a unique personality and not a female version of a male watch; so we decided to invest in the project. The female market is growing a lot in terms of self-purchase so it was time for us to be part of this market. The percentage is 80 male versus 20 female
As we approach world’s premiere watches exhibition BaselWorld 2012, how is Eberhard & co planning for this expo and what are the novelties that you will reveal at this show - especially with your 125th anniversary?
As you mentioned we will be celebrating the 125 years but what is even more important is that this period has been uninterrupted and this is something that very few can say. This said, we will present a model dedicated to the anniversary and limited based on our Extra-Fort collection, a version in gold of our Chrono 4 Geant and a very interesting chronograph, the Champion V (5) in our entry price segment.
How important is the Middle East for Eberhard & Co?
I believe Middle East is one of the key markets for three reasons. The first is that it is a market that will be much stronger than others; the second is that it is a hub for its geographical position and the third is that local customers and collectors became very mature in the last 15 years and love technical improvements.
What are Eberhard & Co. biggest challenges in the region?
Without hiding behind void words, our first step is to build the brand recognition in the region. I think our local partners that we are selecting among the most honorable and professional will support us in this challenge.
What is your message to the regional industry, Eberhard & Co. customers and watch connoisseurs?
For every new market the first step is to appreciate the brand and only later the product; this is now happening in China but in the Middle East this process has already been completed years ago and the local collectors and passionists have a real deep competence. I am sure this will help them to consider Eberhard & Co. as a brand that is really producing unique watches and will create its space in the market.