What is La Montre Hermès all about in 2013 ?
Each year, Hermès focuses on a theme and interprets it throughout its crafts. After time in 2012, sport is on the agenda. Naturally this is mostly about sporting spirit and the pleasure that sport can bring rather than performance. As regards La Montre Hermès, we try to convey this approach by giving a more sporty character to certain products. In this regard we are offering the Arceau models with coloured straps and the Dressage family with a chronograph function. Other innovations such as the Cape Cod GMT in my opinion also correspond to the notion of sporting chic.
What has surprised you the most in the past three years ?
At La Montre Hermès which I have only been heading for four years, what most amazes me is the company’s phenomenal creative capabilities. This strength gives it amazing resistance to the instabilities of the economic climate. More generally speaking within our industry, one cannot help being struck by the growth potential of watchmaking, undoubtedly the biggest in the luxury world. This phenomenon is essentially due to the emerging markets, where one of the first acquisitions in the luxury world concerns watches. This is very encouraging, while also making the sector ultra-competitive with the new players coming in all the time.
Of which achievement are you most proud ?
La Montre Hermès has proved a lot over the past four or five years, but I must say that with Le Temps Suspendu our teams have created the product that is the most representative of the Hermès philosophy. It embodies on the one hand the fantasy and poetry that characterise the Parisian company and its
playful philosophy, and on the other hand great watchmaking expertise. This communion has given rise to a very distinctive product representing exactly the kind of success that we aspire to reiterate.
How do you equate this Fine Watchmaking approach with Hermès’ fashion image ?
That is the whole challenge of Hermès watchmaking – to be a respected watchmaker for its know-how and watchmaking craftsmanship which has to fit in with the company values. This is both a challenge because we have to integrate the
conventional codes of an industry with the highly distinctive Hermès values, and an opportunity to stand out from the crowd by representing an interesting alternative. So we chose to promote the territory of “Time to Dream”. These strong intellectual – almost philosophical – concepts that we translate mechanically, touch people by surprising them and stirring emotions. By devoting watchmaking technique to serving Hermès poetry, we enable our clients to dream.
What further interpretations of Le Temps Suspendu should we expect ?
At Baselworld we are presenting a new variation of Le Temps Suspendu and intend to develop this line to make it even richer and more interesting because we see it as truly iconic. The saga of Time to Dream continues through several projects in parallel. Like start-ups, each of these adventures begins with a strong idea, but only one or two of them will culminate in a reliable mechanical interpretation two or three years hence. Our unconventional complications stem from the realm of invention.
Has the geographical spread of sales, and the proportion of men’s/ladies’ watches changed very much ?
Definitely so. The objective set in 2009 to become a respected watchmaking player involved attracting a more significant male clientele, notably by adding mechanical, masculine pieces to our collections. Since then we have doubled the size of this segment, which now represents 40% of our sales, a proportion I view as a good balance because we are committed to maintaining our edge in feminine watchmaking. Geographically we have started to compensate our under-representation in North America (from 10 – 13%) that we see as being a very important growth engine that should still increase by another 50%. In my opinion, the USA in absolute value terms constitutes the biggest luxury market in the world. In addition, we have re-balanced the mix in South East Asia by reducing the dependency on Japan. We favour more selective distribution in these two zones, with both shop in shops and Hermès boutiques entirely dedicated to watchmaking. Finally, we have conquered traditional watchmaking European markets such as Germany and Italy by regaining control of our distribution.
What are the best assets of La Montre Hermès in making its mark on the watchmaking world ?
One of the obvious assets lies in the Hermès distribution network : 330 magnificent boutiques in strategic locations, in which watchmaking is always represented. The second asset relates to our ability to develop new territories for watchmaking through these unconventional complications. Finally the diversity of crafts in in the group (silk, leather, prêt à porter, crystal, jewellery, fragrances) constitutes an enormous source of creativity and inspiration, notably in terms of design, materials and techniques.
What other synergies do you benefit from ?
Hermès is a synergistic brand! While the greatest wealth lies in creativity, we benefit from certain economies of scale, but above all from a reservoir of talent comprising some 10,000 people who enabling significant mobility between various crafts and regions. At the end of the day, we can depend on the big Hermès corporate events that also have the potential to highlight our watchmaking approach, be it in China or the rest of the world.
