Tiffany & Co. renews its legacy in fine watchmaking
The highly distinguished American company that looks back to more than 175 years of heritage, Tiffany & Co., writes new chapters in its history as it widens its range of offerings. From being renowned in jewellery making, the New York brand extends (and reclaims) its glory to the world of Haute Horlogerie
Tiffany & Co. (more known colloquially as Tiffany) has created a brand that is almost synonymous to the term “high jewellery”. Having had adorned royalties, celebrities and dignitaries, the Tiffany jewels are among the most coveted treasures in the world. However, in the past couple of years, the American company has been actively present in another craft that is very close to jewellery making: The fine watchmaking.
Though it may not be strongly recognised to watchmaking, Tiffany has a long history of selling timepieces that traces back to 1847. Its founder Charles Lewis Tiffany is also renowned for installing an icon in New York – the statue of Atlas holding a clock above the entrance of the Tiffany store – which was one of the first public clocks in the city. In an interview with Renaud Pretet, Regional Vice President (Middle East, Levant, Africa, Turkey & Subcontinent) of Tiffany & Co., he revealed to ‘Day & Night’ magazine that the company’s legacy in watchmaking is being renewed as part of Tiffany’s goal to become a full-pledged global luxury house.
How important is the nomination Tiffany CT60 Annual Calendar Limited Edition in the Grand Prix d’Horlogerie de Genève (GPHG) under the Calendar watch category?
It is very important because it recognises that the brand Tiffany is a strong player in the field of fine watchmaking as well as it honours the legacy of the brand that spans to 170 years in the industry. The Tiffany CT60 Annual Calendar Limited Edition is the perfect watch for this pre-selection in the Grand Prix because it tells a lot about the brand. First of all, the “CT” stands for Charles Tiffany while the number “60” refers to the so-called “New York minute” that is said to be different than the beat in any other cities. This watch tells so much about Tiffany’s legacy as an American brand – it follows the American design that is all about useful functions. The idea of design is as not grand as tourbillon, minute repeater or skeletonised watches. Yet at the same time, the Tiffany CT60 Annual Calendar Limited Edition boasts the technical expertise of the Swiss craftsmen. For a year now, Tiffany has a setup for watchmaking in Switzerland, and we combine the know-how of Swiss watchmakers with the unique American design.
Since the Middle Eastern clients are known to prefer elaborate and extravagant designs, how do you cater to their needs when your products offer the minimalist and functional American style?
I appreciate the effort by Ahmed Seddiqi & Sons to host the Dubai Watch Week that had focused on education. During the event, different kinds of watches from big brands were presented as well as various timepieces from other players in the market such as independent watchmakers or brands like Tiffany. The event was helpful in educating the market about Tiffany’s strong DNA in design and in watchmaking.
Why has there been a big push to men’s watchmaking at Tiffany’s?
It is true that Tiffany is creating a strong presence in men’s watchmaking. But before anything else, the market has to remember that Tiffany has been in the field of fine watchmaking for more than a century. We are not new in the industry. Tiffany installed an icon in New York with its first public clock as well as its Tiffany Timer, the first stopwatch in America. In the 1850s, Tiffany is the biggest player in America in terms of selling Swiss timepieces. The company imported the watches they sold in the US until such time that it learned the craft. So, they invested in going to Switzerland and actually created what was at the time the biggest manufacture in Place Cornavin in Geneva. In 1878, Tiffany partnered with Patek Philippe and so the manufacture was sold to Patek. Since then, Tiffany has worked with the best suppliers and has been focusing in creating the best designs. One of the best creations of Tiffany was the FDR 1945 timepiece that was gifted to the President Franklin Delano Roosevelt. He wore this Tiffany watch at the historic Yalta Conference after World War II. So, this long history and remarkable legacy simply display Tiffany’s strength in the field of fine watchmaking. Yes, we put more focus now on men’s watches, but this is not something new for Tiffany. We have crafted great watches worn by great men even before 1945.
But, why put focus on watchmaking at this point in time?
We want Tiffany to evolve more as a global house of luxury, not specifically as a jeweller. This means we have to focus on developing the segments that are not known as strong in our portfolio, hence there has been a strong investment in men’s watches. That is part of our key strategic pillar at Tiffany for the years to come. So men’s watches as a segment must be improved. The CT60 is a great tool to achieve such ambitious plans.
What hurdles are you encountering in developing the men’s segment?
Having been mastered jewellery making, the company sees no great challenge in watchmaking. In both fields, we have to show great care for details. So, we work with the best people and the best suppliers, and we provide clear specification of what we wanted for a Tiffany watch. It has to be about useful functions, about translating the New Yorker spirit into the watches. In terms of price positioning, I believe we are in the right category. On one hand, marketing the brand as a watchmaker may seem to be a challenge. But good news is that Tiffany receives a lot of male customers who come to the boutiques to buy gifts for their loved ones. So, it is just a matter of incorporating in the communication with these male customers the legacy of the brand in watchmaking. We have trained our sales force quite intensively on how to handle such situations. Also, our products are outstanding. Plus the brand itself adds value. When we released the co-branded watch with Patek Philippe exclusive to the US customers, our logo has an additional value to the timepiece. And this value is the same worth customers find on our own watches.
