Interviews

Exclusive interview with Zenith CEO Jean-Frederic Dufour:

Watches with the Pioneer Spirit as a message

Basel - By Roberta Naas

With two years in place as the CEO of Zenith, Jean-Frederic Dufour has implemented some high-profile changes to the product, the positioning and the overall marketing strategies of the prestigious brand. Here, he shares his thoughts on those changes and his visions for the near future, as well as some product insights.

AWJ: Now that you have been at the helm for two years here, have you accomplished what you wanted to thus far with the brand?

“I came in June 2009 and the challenge was to completely concentrate on the product at first. I studied our history deeply because that history is so rich and I wanted our product strategy to be consistent with our roots. It is a blending of history and strategy. I eliminated 850 lines. We eliminated the collections that were not a synthesis with our core concept and introduced clean, classic looks. We have 130 new references. I also developed a concise direction of Pioneer Spirit that ties our history to modern day, and we have begun new partnerships with ambassadors that tie in to that recurrent theme.  We are strong and bold and have something nobody else has; we just have to bring that to the forefront.”

AWJ: Can you share your ideas behind the ‘Pioneer Spirit’ Concept for the brand?

“When I researched our 146-year-old history, I found that we had many pioneers in our past. This is how we came into being and how we developed such important products like the El Primero. I thought that we should focus on the Pioneer Spirit as the message we give to our consumers about the watch they buy, and we have our modern pioneers now, too, with our ambassadors. The pioneering spirit -- we have this in our roots and as long as I am here, it will be here as our spirit.”

AWJ: Will you be further expanding your ambassadors and partnerships?

“We have moved forward with interesting ambassadors now and will continue with those how also are real-life pioneers, such as [Jean-Louis] Etienne who wore the El Primero Striking 10^th on his wrist when he flew over the icy North Pole in a balloon, and with other ventures. Today’s explorers have great stories to tell and we want to be a part of this.”

AWJ: What about the product strategies for the brand? You have shifted away from the outlandish and back to the classics and complications. Will this be the continued direction, and what are your thoughts about new materials?”

“Our product shift has gotten us great attention. The new Captain line watches unveiled this year, especially the classic looks and the moonphase, are being so well received. It was time to focus on the men’s watches and offer classic looks, important useful functions such as the moonphase, the calendar, the dual time zone. We also wanted to offer the cutting-edge sports pieces like the Charles Vermot pilot watch and the new El Primero flyback that was inspired by the first El Primero from 1969. We also have a new Open Heart model so we can appeal to all of our various types of customers.   I n terms of materials, we are using Alchron now – an alloy of steel and aluminum that is used in the auto and plane industry. We offer a synthetic fiber strap, too. We could have come out with rubber but then I am just like everyone else. This strap is very elegant and modern. In the complications, we will be taking the Christophe Columbus line to a new level in October when we launch it with an Equation of Time. It is a very important piece, so completely in connection with the idea of precision of this watch mechanism. Complications will always be an inherent part of our collections.”

AWJ: How have you adjusted the pricing of the line?

“For me it was important to address the pricing of our line. We have watches that sell from $4,000 to $250,000 for a top complication, but when you are selling a watch that costs $10,000, it isn’t anything that you buy every month. You have to offer genuine value as a watchmaker for the money consumers are paying. I think our prices now are right for the different collections.”

AWJ: Can you share some insight with us into your plans for the Middle Eastern Market?

“The Middle East market is important for us. We opened a flagship store in Dubai, as you know, about a year and half ago, which is one of our biggest in terms of space, and we have mini boutiques in Doha, but we do not want to outsell our  retail partners. Our stores are set up for image; we will continue to be close partners with our retailers.”

Market News

DGCX April volumes hits 111 percent increase

April volumes recorded a 111 percent year-on-year increase to 227,421 contracts valued at $11.4 billion (Dh41.8 billion) due to the current volatility in gold and silver prices, said the Dubai Gold and Commodities Exchange (DGCX). Year-to-date volumes on the exchange climbed by 51 per cent to aggregate 910,913 contracts while year-to-date average daily volumes also rose 51 percent to 10,975 contracts. DGCX gold futures continued last month's robust performance, rising 49 percent year-on-year in April 2011 to 46,295 contracts. Silver futures increased 298 per cent year-on-year to 9,921 contracts.

Bulgari posts strong profit increase up almost 29 percent

Hermes posts 25.5 percent sales increase in Q1 2011

Hermes first quarter financial report (three months ended 31 March 2011) declares a consolidated revenue totalled Euro637.1 million in the first quarter, a rise of 25.5 percent at current exchange rates and of 20.7 percent at constant exchange rates. The remarkable performance and exceptional business momentum registered in 2010 persisted throughout the first three months of 2011. Wholesale revenue moved up 23 percent at constant exchange rates, propelled by vigorous demand, particularly in the Watch and Perfumes segments.

International auction to feature Montblanc pen

On May 23, 2011, Bonhams & Butterfields will be holding its eight auction of fine pens in the US in Los Angeles. One highlight of the auction will be a Montblanc Meisterstuck Solitaire Royal LeGrand, estimated to go between US$125,000 - US$175,000 ($153,249 - $214,549). The pen, set with over 4,600 brilliant cut white diamonds over an 18 karat yellow gold barrel, is one of Montblanc’s most exclusive creations. Another item of interest is the Montblanc Sir Winston Churchill fountain pen, the last of the 53 produced.

Antiquorum to offer Jaeger-LeCoultre Reverso at the Geneva May 15 Auction

Antiquorum celebrates the 80^th anniversary of the iconic Reverso watch  with a selection of 33 exceptional Reversos,  including original pieces from 1931,  emblematic and ultra-rare versions with colored dials,  limited series with complications,  and watches with enamel-decorated case backs. The Jaeger-LeCoultre Manufacture is partnering this special “Reverso Chapter”, and will provide an Extract from the Archives, free of charge, for each lot made prior to 1950.

Damas designs new retail formats

Damas has announced that its retail formats will be further enhanced to give a brand new glow, which will include the phased rollout of more boutique and semi-boutique stores. This would sit well on its future profit margins. These new formats are specifically designed for the shopping malls and in new retail strategy. At the same time, Damas is planning to expand outside the UAE. It did that in Saudi Arabia recently with Damas doubling its stake to 98 percent and taking over operational control.

Company News

City of Life film-maker to be brand representative for Ahmed Seddiqi & Sons and Hublot

Internationally acclaimed Emirati film maker Ali F. Mostafa has joined hands with Ahmed Seddiqi & Sons and Hublot to become their brand representative in the UAE. The official signing ceremony took place on May 9^th 2011 at the Ahmed Seddiqi & Sons boutique in the Dubai mall between Mr. Mostafa and Mr. Mohammed Abdulmagied Seddiqi (VP, Sales & Retail, Ahmed Seddiqi & Sons). Mr. Mostafa will be wearing the latest “King Power” Hublot watch during his red carpet appearances at the Cannes Film Festival which starts on May 11^th 2010.   

OMEGA partners with Samsung Diamond League's season-opening in Doha

The world’s leading Athletes met in Doha, Qatar on May 6, 2011 to kick off the 14-meeting Diamond League series. OMEGA will be serving as Official Timekeeper in Doha and at all of the meetings in this, the Diamond League's second season. Ten reigning World and Olympic Champions will be competing in Qatar´s capital city in 16 disciplines for $480,000 in prize money. Over the 14 meetings more than 8 million US-Dollars and prestigious Diamond Trophies for the winners of the series are at stake.

Penelope Cruz wears Chopard to the Premiere of Pirates of the Caribbean: On Stranger Tides

On 7^th of May 2011, Penelope Cruz looked stunning when she arrived on the red carpet for the World Premiere of “Pirates Of The Caribbean: On Stranger Tides” in LA. Penelope accessorized her look with Chopard’s pear shaped diamond (10 carats) double frame pave earrings set in platinum, a dazzling emerald and round cut diamond bracelet (57 carats) set in platinum and a fancy yellow square brilliant diamond (4 carats) and white diamond micro-pave ring set in platinum and 18K yellow gold.

Jessica Alba as new Piaget Possession Ambassadress

Piaget announced Jessica Alba as the new ambassadress of its Possession collection of jewelry. Jessica Alba, one of Hollywood's most popular stars has captivated audiences with her natural beauty and charm. Her memorable performances have earned many awards and a Golden Globe nomination, and she regularly graces the covers of top fashion magazines around the world.

The Art of the Automobile: Masterpieces of the Ralph Lauren Collection

A selection of the most prestigious sports cars from the 1930s to present day is on view for the first time in Europe at Paris ’ Musee des Arts Decoratifs from April 28 to August 28. Seventeen outstanding cars, chosen by curator Rodolphe Rapetti, and put on display by Jean -Michel Wilmotte, outline the main phases of European automobile history. With this collection, Ralph Lauren shows that the automobile is a major art form created by the industry’s biggest names: Bugatti, Alfa Romeo, Bentley, Mercedes-Benz, Jaguar, Porsche and of course, Ferrari, the high point of this unique collection.

Vacheron Constantin, patron of "the Journees des Metiers d’Art" and the “Talents d’Exception” exhibition

Vacheron Constantin has hosted a hundred or so guests in its capacity as patron of the “Talents d’Exception” exhibition and in the company of Frederic Mitterrand, Minister for Culture and Communication Frederic Lefebvre, Secretary of State responsible for Handicraft, Jean-Michel Delisle, President of the INMA, as well as Juan-Carlos Torres, CEO of Vacheron Constantin on 31 March 2011 in Paris. On this occasion, Vacheron Constantin presented two new models in its Metiers d’Art collection.

Maurice Lacroix Never Stop Moving: Win a journey around the world

Five global cities, two weeks and one traveller. That’s the once-in-a-lifetime prize being offered by Maurice Lacroix and the globally-active travel organisation Kuoni. Under the slogan “Never Stop Moving”, the idea for the competition was created to help launch Maurice Lacroix’s new automatic masterpiece models which are based on the principle of constant movement. This unique expedition is open to men and women around the world aged 25 years or older, who hold a valid passport. A professional jury will choose the winner out of the ten candidates with the highest votes.

Montegrappa announces the Availability of the Privilege Gioiello Limited Edition Collection

Montegrappa announced the availability of the Privilege Gioiello luxury pen collection which debuted at this year's Baselworld in March. Originally inspired by a model from the 1930's that was part of Montegrappa's museum collection, the revamped version of the Privilege Gioiello heralds new engraving techniques and has been enhanced by sterling silver and decorated with new motifs produced by special techniques featuring hand-etched patterns. Privilege Gioiello will only be available as fountain pen and rollerball in a limited edition of 500 of each style and mode.

CARAN d’ ACHE announces management change

Caran d’Ache announced that is Board of Directors and Mr. Philippe De Korodi have decided in a mutual agreement, to terminate their contract. Mr. De Korodi became General Manager after his nomination in May 2008. To replace Mr. De Korodi from 9^th May 2011 ad interim until the nomination of the new General Manager, the Board of Directors has called on Mr. Silvio Laurenti, former General Manager and member of the Board of Directors. Mr. Laurenti has successfully performed this function from the end of 1999 to May 2008.

Product Launch

A. Lange & Sohne’s thinnest timepiece ever created: The new Saxonia Thin

The new Saxonia Thin is the flattest and thinnest timepiece crafted by A. Lange & Sohne. The strength of this piece is its focus on the essence of a watch: the time in hours and minutes, and nothing more. To fit the thin case, the brand developed an equally slim manually wound movement that can be admired through the sapphire-crystal caseback. The new caliber L093.1 has a diameter of 28 millimeters and is a mere 2.9 millimeters thick. The movement features an indexless oscillation system that beats with a frequency of 21,600 semi-oscillations per hour and can rely on an ample power reserve of 72 hours.

TAG Heuer Monaco Twenty Four Calibre 36 Chronograph Watch

First presented as a Concept Watch in 2009 at BaselWorld, the TAG Heuer Monaco Twenty Four Calibre 36 Chronograph Watch reflects the power and speed of motor racing cars. Housed in a larger 40.5 mm case coated with black titanium carbide, the high-performance Calibre 36 movement runs at the stunning speed of 36,000 vibrations (corresponding to a 5 Hertz frequency). Constructed of polymers used in aircraft and racing cars, the Advanced Dynamic Absorber system, developed to absorb any vibrations between 1 and 10 Hertz, protects the movement from its own vibes as well as from any external disturbing shock.

Baume & Mercier, an innate sense of celebration… Father’s Day

When it’s time to celebrate, Baume & Mercier watches have the knack of ensuring the enduring presence of such moments of happiness. The brand introduced the Capeland timepiece which is clearly destined for giving, as confirmed by their case backs adorned with a “Sundeck” decor and especially designed by Baume & Mercier to allow for a message or date to be engraved. Capeland also stands out by its two-toned dial, which is subtly reminiscent of 50s aesthetics. Interpreted as a chronograph in all models, Capeland is a study in relaxed elegance with a light sporty signature for the core collection.’

Exhibitions & Events

Jewelex Arabia 2011 attracts strong international support

The first edition of Saudi Arabia’s International Fine Jewellery and Luxury Watch Exhibition - Jewelex Arabia 2011, set to take place in Four Seasons Hotel, Riyadh from 2 to 6 December, has attracted strong interest and commitment from international jewellery producers and regional jewellery agencies. Jewelex Arabia 2011 will provide a unique platform for the world’s fine jewellery producers and luxury watch manufacturers to interface with the Kingdom’s discerning jewellery and watch buyers, collectors and investors, as well as the high-end jewellery retail traders.

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