Interviews

Exclusive interview with Mr. Bernard Furnas, President and CEO of Cartier

Cartier – choice of the rich and the rulers

Abundance of brands in fashion, lifestyle and luxury offers plenty of options to choose from. But only few them stand out and their appeal is crystal clear. They are known for their uniqueness, exclusivity, excellence and distinction. Such brands have strong following among the rich and the rulers. That is why King Edward VII said - and aptly so – about Cartier that it is “The Jeweller of Kings & the King of Jewellers.”

Known for its celebrated designs, fashionable wristwatches and exotic orientalist designs, Cartier boasts a pioneering past and innovative future. Since its foundation laid by Louis-François Cartier in 1847, the company has been clocking topline growth unmatched by its industry peers. It has set precedents envied by its rivals. Cartier is now expanding beyond its core markets and plans to add 20 new boutiques across the Middle East. We sat with Cartier President and CEO Mr. Bernard Furnas to explore company’s precious past and strategies ensuring its fruitful future. “There is no one like Cartier – the King of Jewellers and a big player in haute horology,” proudly says Mr. Furnas. Excerpts from the interview:

La Maison Cartier was described by King Edward VII as “The Jeweller of Kings & the King of Jewellers”. How has Cartier successfully maintained its elitist reputation over the past 160 years?

We are still the King of Jewellers and Jeweller of the Kings. Look at our high-end jewellery and watches confirming our belief. There is no one like us.

Does this description fit Cartier watches too?

Cartier is the most creative brand of all the watch-making industry. We are by far the number one brand in high-end ladies watches. For men watches, haute horology Cartier was not there for a long time even though we knew how to do it. Now we are number three tourbillon watch seller in the world. We were able in two years to put 36 new references and 12 new movements. This year, we have 12 new watches with new calibers, and for next year we have everything signed and scheduled for development. Cartier is creative in all segments of watch-making.

Do you think this is enough? 

It’s not easy to be on top level in all segments. We are building up the legitimacy and credibility. That’s not easy and needs time, but Cartier is moving fast. We are big players now and will remain dynamic.

Richemont annual results revealed that Cartier performed very well. Did the result meet your expectations?

Sure. I always wanted to grow but securing and preserving my image at the highest level. Growing without losing selectivity and excellence is a golden rule for us in Cartier.

What is your assessment about performance in the Middle East?

Very good. Cartier dominates the market now but I believe we can do better because because we have done very well in China.

What’s the relation?

Good results in China force me to adopt a policy that helps me avoid over dependency.  We should push better in the Middle East and the Americas that would give us more comfort.

What are the challenges Cartier facing in the Middle East?

We need bigger boutiques, more products and improve our retail management. We also have to improve our position in Saudi Arabia. Now we are going to open a very big boutique in Abu Dhabi, spanned over 500 square metres and to be managed by Cartier itself.

How many boutiques should Cartier have in the region?

To me, 20 seems a reasonable figure.

Cartier plans three boutiques in Qatar. Can a small country like Qatar hold such a number?

Of course it can. Qatar is the world’s largest gas producer and in a few years it will host the FIFA soccer World Cup. The country will develop and we have to go along with it.

What are the other elements you want to achieve in the region?

Excellence in the different Middle Eastern markets.

Did crises affect the clients’ attitude in the Middle East?

The crises brought back a number of clients to Cartier. When the economic mood is bad people intend to go back to legitimate brands.

Cartier revealed new watch Collection in the 2011 SIHH. Could you please provide us a sneak preview of the novelties?

Our 2011 novelties showed the world and collectors that Cartier is now a main player in the haute horology and jewellery market as well. Our collections give a wide choice of designs to have a better emphasis, by doing so we would definitely contribute to prove that we are a serious player.

How variable is it for Cartier to adjust products for certain markets?

Beauty has no border. Cartier products are for the whole world and we will not do that – at all.

Market News

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The World Gold Council (WGC) reported that global jewelry demand totaled 1,468.2 tonnes during the first nine months of 2010, an 18 percent jump from 2009. Jewelry demand totaled $55.5 billion during the first three quarters of 2010, equal to the $55.5 billion spent globally on gold jewelry for the entire year of 2009. Growth was tremendous for India, up 73 percent, and demand rose strongly from Hong Kong, Russia, and China. U.S. gold jewelry demand was flat.

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Company News

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Hublot announces partnership with basketball all-star Dwyane Wade of the NBA's Miami HEAT

NBA Champion, NBA Finals MVP, Olympic Gold Medalist, seven-time NBA All-Star and pioneering fund raiser for children's charities, Wade's collaboration with Hublot represents a strengthening of the brand's ties to professional athletics and in particular, basketball, a sport that to no small degree has become a global phenomenon thanks to the talent, passion and drive of its most celebrated players. Also, Dwyane Wade to serve as new Hublot Ambassador.

Harry Winston dresses Fergie for Super Bowl XLV Halftime Show

Grammy Award winner, Fergie, wore $2 million of Harry Winston diamonds during the Super Bowl XLV Halftime Show. Wearing diamond bracelets, a diamond ring, and diamond ear studs, The Black Eyed Peas star performed an electric, show-stopping set, with surprise appearances from Usher, and Guns N’ Roses star, Slash. The show marked the first time that a woman has performed at the Super Bowl Halftime Show in seven years, since Janet Jackson’s controversial performance in 2004.

Jaeger-LeCoultre official partner of the Desert Palm Nations Cup Polo Tournament

Jaeger-LeCoultre, the official sponsor of the UAE National Polo team, was a primary partner of the Nations Cup Polo Tournament held at Desert Palm, a boutique retreat and private polo estate overlooking the Dubai skyline. The Nations Cup Tournament held in January 201 1 was the region’s 3^rd international polo tournament organized in celebration of the sport. In addition to the tournament trophies, a special prize was awarded by Jaeger-LeCoultre to the two players most influential in the promotion and development of Polo in their home countries.

Ritmo Mundo at MTV Fundraising and Farewell Event in London

On January 27, musically minded celebrities turned out at the Westbury Hotel in London for the MTV Staying Alive Fundraising and Farewell Event, which celebrated the achievements of Bill Roedy. Along with an evening of dinner, and performances was a silent auction fundraising   event in which RITMO participated by donating two automatic watches from the PERSEPOLIS collection valued at $15,000.

Charriol opens new Boutique in Jakarta Indonesia

Philippe Charriol inaugurated its new Charriol boutique in Jakarta’s Plaza Indonesia Mall on 16^th December 2010. The event marked a banner year for Charriol, which has opened 25 boutiques around the world in 2010 alone. National star and TV presenter Feni Rose was delighted to wear the latest St Tropez watch with matching jewelry pieces from Celtic Love Knots line. The Plaza Indonesia boutique is Charriol’s 99th in the world.

GRAHAM LONDON as the Official Timekeeper of the 2011 RBS 6 Nations Championship

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Keri Hilson wears Emsaru and Carrera y Carrera to the 53rd Annual Grammy Awards

On February 13, Keri Hilson wore Emsaru earring, a Carrera y Carrera ring and Le Vian diamond bracelets to the 53^rd Annual Grammy Awards held at the Staples Center in Los Angeles, California. Created in limited quantities, each Carrera y Carrera piece is a work of art that merges intricate goldsmith techniques with precious stones.

State-of-the-Art Swiss watchmaking has a new name: Antoine Martin

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Product Launch

Chopard launches L.U.C 150 “all in one”

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Frederique Constant introduces new Amour Heart Beat Ladies Automatic, designed by ShuQi

Frederique Constant has introduced its new Amour Ladies Automatic Collection designed by ShuQi, the famous Taiwanese-born movie star & glamorous personality, who has been the Frederique Constant Brand Ambassador for Greater China since 2008. Available in opaline white, sweet vanilla or gourmet chocolate, the dial features a charmingly written 'Amour' decoration with iconic diamond-set heart-shaped opening at 12 o’clock, which reveals the beating of the balance of the movement.

Watches & Cars: Engineering Masterpieces with more similarities than one would expect

On first sight, watches and cars have little in common. However, both represent what is arguably the highest level of technical genius and symbolize the way of life of their owner. The A. Lange & Sohne Lange 31, a timepiece with an exceptional 31 day power reserve with constant force, and the Audi R8, with its new, top of the line 10 cylinder engine, satisfy these desires. Made in Germany, the Lange 31 and R8 feature the most advanced technologies, and offer the ultimate in engineering, precision and performance.

Bovet offers Mille Fleurs for Valentine’s Day

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Breitling presents Montbrillant 01 Limited

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Hermes introduces Arceau Grande Lune

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Glam Rock’s Monogram Collection to be revealed at BASELWORLD 2011

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Exhibitions & Events

IIJS: Council Activities for February

Trends Jewellery Forecasting: The Council is organizing a Trend Jewellery Forecasting Seminar (TJF Seminar), scheduled to be held on 28th February, 2011 & 1st March, 2011, at Hyatt Regency, Mumbai. The Seminar aims at educating the members/students of Gem & Jewellery Industry on latest jewellery trends of specific markets namely Europe and USA.

The 5th Saudi International Jewellery and Watches Exhibition (JE-WATCH) 2011

The 5th Saudi International Jewellery and Watches Exhibition (JE-WATCH) 2011 will be held at the Dhahran International Exhibitions Center - Dammam, Saudi Arabia from May 23 – 27, 2011.

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