What is your assessment of your three years spent at the head of Jaeger-LeCoultre?

These past few years have been absolutely fascinating! The team work achieved within the Manufacture as well as through our subsidiaries has enabled us to take an important new step towards building the Jaeger-LeCoultre brand. Two aspects have become particularly apparent: on the one hand, we have realised that the brand enjoys enormous goodwill both among retailers and end consumers, which is encouraging for all our personnel. On the other hand, the products we are now offering have taken on a new dimension in terms of the wealth of the range on both quantitative and qualitative levels. Volumes have increased, the new collections offer a broader choice, and the genuine “Grande Complication” models have proved their worth, particularly with the Gyrotourbillon. Our one-year and three-year objectives have thus been met and the five-year objectives are well within reach.

What is the current sales spread between your various collections?

It varies considerably from one market to another. For example, the Master Compressor line is just three years old, but already tops sales in the United States. On this market, which is relatively new to us, the Compressor has benefited from the logistic improvements made by setting up a new structure and its related communication strategy.

The same goes for Germany. In a totally different register, if we take Korea, Atmos earns the best results, but that is a relatively atypical case. Worldwide, the Reverso still accounts for a little over half of total sales, the Compressor has gone past the 20% mark and the remaining quarter is spread between the other lines.

Has the launch of the Idéale ladies’ collection* not yet reaped results?

This brand-new collection was introduced on certain markets last autumn. Those in which we have done indepth work in the fields of presentation, explanation and communication are now starting to capitalise on these efforts, and sell-out is meeting our expectations. This is particularly true in Switzerland, France, Italy and Hong Kong, where Jaeger-LeCoultre has acquired a new clientele. But watchmaking history is not made overnight, and we still have a way to go before speaking of an out and out success.

Will we be seeing the Master Compressor in limited series?

This summer we are going to introduce two chronograph models into our Compressor collection, one with a platinum variation produced in a limited edition of just 200: the Master Extreme World Compressor in platinum and titanium. This new chronograph (including a world time version) is naturally equipped with a new Manufacture Jaeger-LeCoultre movement and a number of patented innovations: an air-based shock-absorber system, vertical coupling of the chronograph, compression push-buttons or an interchangeable “jaw” strap. The relatively small size of the movement will enable us to add complications in the future which will in turn give rise to genuine “Grande Complication” limited series intended for connoisseurs.

How do you explain the fact that Jaeger-LeCoultre communication has always been extremely traditional?

The products are the real brand ambassadors; that’s our basic message. They have so much to say, and communication is a tool that loses so much of its efficiency when you overlay too many messages, that our advertising campaigns have focused exclusively on highlighting the timepieces, and not on the reasons that would lead such or such a person to choose one of them. This being said, our communication is not limited to advertising campaigns. We devote a great deal of energy in the field to explaining and presenting the specific characteristics of our watchmaking professions and to giving guided tours of our Manufacture, so as to enable people to grasp the range of our knowhow and to understand the added value our watches contain. Finally, you will note that we have actually launched a new advertising campaign designed to create a brand environment and to convey its essence and the integrity of its products. It will be a significant accelerating factor for the brand. Finally, we are accompanying the launch of our Master Extreme World Compressor with a form of sports sponsorship that we feel is consistent with the endurance qualities with which we have endowed it.

In light of the uncertainties prevailing in the world economy, the new watchmaking paradises and the many brands that are constantly being created, how do you see the watch market?

Watchmaking cycles are indeed linked to economic trends, but we are increasingly witnessing an anticipation on the watch market of global evolution as a whole. On the new markets, there are generally fairly clear elements that enable one to get one’s bearings and to adapt rapidly. The most striking current factor is the evolution in worldwide distribution networks. The overall quality of retailers has been enhanced in various countries, and one can now for example find excellent points of sale in Mexico. The world is indeed changing and one must remain vigilant with regard to newcomers, but it is interesting to note that the major technical breakthroughs mostly stem from the great Manufactures. The legacy of tradition provides resources that cannot simply be invented, and the determination to innovate distinguishes brands that do not view tradition merely in terms of conformism. As I often say to my American clients: “History without a future is just a story!“.

*see cover page and story in last winter’s edition of GMT Stars & Snow