Girard-Perregaux – a strategic re-think
Antonio Calce, CEO of Girard-Perregaux, opens up to “Day & Night” magazine on the side lines of the SIHH at Geneva, on how the marque is re-positioning itself to create value in today’s world
Is Girard-Perregaux targeting the younger generation with its latest offerings – Neo Tourbillon with Three Bridges and the Laureato – in the past two years?
Definitely yes, we have to reach out to new clientele to increase our consumer base, and this is part of our strategy. We are the oldest brand in the watch industry and we are also at the beginning of a new chapter in the industry now. The product needs to be more modern now; the Golden Bridges is a perfect example. You can respect the DNA and the heritage of the brand, but in a more exacting, fresh manner. There needs to be more growth and evolution in the watch industry. The product needs to create a desire, and this is exactly what we do.
Even if we boast of a 227-year legacy, creativity is the key. How do you improve the creativity of the brand? By getting the right skills in your team – designers, product developers, engineers, etc. Some of my team have no experience in this industry, but come from other businesses. It helps to create an open mind, to create more products with freshness.
Why is it that a number of brands that used Girard-Perregaux’s movements for their products in the past no longer do so?
We have stopped supplying other brands with our movements. We now only supply MB&F with our base movements; I personally like the brand and they bought only 50 pieces last year. We are not suppliers of base movements; we see the movements as the heart of the brand and so will restrict using our movements only for our own products. Earlier, we were supplying our movements to other brands, including Bvlgari, but I think it is not the right direction for Girard-Perregaux. We cannot rest on our past laurels; we can create a desire for our products by creativity and new exciting products. Our Minute Repeater Tri-Axial Tourbillon is a very high-end watch; the case is 100 per cent titanium, is very light, looks very modern, and has a new skeleton bridge. So we have a product that is very desirable, and yet is able to inspire respect and admiration for the heritage of the brand.
We have our core collection and our haute horlogerie creations; this is a totally different business model where we produce a few hundred pieces at the higher end. Now, the key product for Girard-Perregaux is Laureato; we launched Laureato eight months ago, with an incredible collection. This year, we have added a Chronograph in two sizes to the collection, and we have had amazing success. Last year, we launched the Laureato Ceramic and the Flying Tourbillon; we have enriched the Laureato collection so that it is a complete family, and the value for money is incredible.
Will Girard-Perregaux now still add extensively to the Laureato collection like you did this past year or will the brand consolidate existing lines?
If you have noticed, our collection varies by function and not by looks of dial alone. For instance, the rose gold Chronograph comes only in a blue dial; we do not bring out multiple editions with different coloured dials. If we bring out something new, then it is because we bring a product that creates value, and has a new function. We may make the Laureato slightly thicker and more masculine in the future.
How hard is it to create horological works of art such as the Planetarium Tri-axial and the Minute Repeater Tri-Axial Tourbillon?
I started working on them in 2015; the Planetarium was my first effort, and we have other projects in the pipeline. I initiated a number of projects and we will launch some in 2019. I wanted to build up the brand, and the Laureato is such an iconic watch, easily identifiable. Laureato was my choice to push the marque to the next level, as it is the main identity of the brand.
Why did you start exhibiting at the SIHH since last year?
The SIHH is the right positioning for a brand like Girard-Perregaux; only watch brands in a similar price range participate. In Baselworld, suppliers participate as do watch brands with a very wide price range – watches retailing from CHF50 to CHF200,000. Girard-Perregaux, along with JeanRichard, has also participated in SIHH in its early years.
Since you took over Girard-Perregaux in 2015, do you see any areas that you think the brand needs to improve on?
Yes, we have to adapt all our strategies, especially communications, to reach the millennials. The world has totally changed, and we have to rethink our strategy, our image, our products, and we have to move fast to succeed in today’s world. I have already started on this and plan to bring in more changes.
