Is it too early to make an assessment of the 250th anniversary year?

It was a positive year in many ways, both in-house and externally. First of all Vacheron Constantin has reaffirmed its legitimate belonging to the extremely select circle of first-rate Haute Horlogerie brands. The communication campaign and the various events marking this celebration have also enhanced brand awareness, a phenomenon we are currently appraising in detail on several key markets. Moreover, we had been concerned that the sale of dedicated 250th anniversary models might be detrimental to other collections. Instead, not only were jubilee models been sold, but we increased overall production 15% and sold over 17,500 watches. Another valuable side-effect of this successful quartermillennium was that our personnel felt a great sense of pride throughout the operation, especially since we involved them in several ways.

You have been in your new position for 6 months; what has changed since your nomination?

Vacheron Constantin is not the kind of brand that you shake up and I am not the kind of person who likes to be in the spotlight. I am a grassroots individual and I like working on major projects on conjunction with a well-knit and highly motivated team of people, among whom I foster logical communication. All departments have thus been given a clearly defined and mission since December 1st 2005, established on a horizontal management mode.

Does Vacheron Constantin’s strategy need to be adapted?

It’s hard to say. Vacheron Constantin’s strategy is based on fundamental values such as its heritage, its technical and aesthetic excellence, the mastery of all the artistic crafts within watchmaking, and above all on respect for customers. The three first pillars must be constantly upheld so as to meet the value, which in my view is the most important. We will perhaps be finetuning the global perception of products so that consumers perceive the strength of each collection, and we will be pursuing pursue the strategy initiated on the occasion of the 250th anniversary by focusing on the Poinçon de Genève quality hallmark. In any case, I believe in a balanced approach and I am seeking to spread risks in terms of both products and markets.

Are women’s products evolving in a satisfactory manner?

Yes: Vacheron is enjoying steady yearly growth and the sale of ladies’ watches is also increasingly regularly and accounts for one quarter of global sales. 1972 is as great success since it is immediately identifiable and are not planning any new feminine launches for the time being.

How is the brand currently perceived worldwide?

Vacheron Constantin is a profoundly “Latin-type” brand. Right from the outset, it displayed an extremely open-minded attitude and it was the first to seek to establish market contacts. The brand’s reputation followed in the wake of the travels of Jean-Marc Vacheron and later François Constantin: in Italy, in Russia, in France, in China and in Japan, all countries where we maintain an extremely strong presence. On the other hand, we arrived rather late in Germany, after other brands, a fact that is also reflected in our position there. As the birthplace of the brand, Switzerland is the second largest market after Hong Kong. In all countries we witness great respect and natural recognition for craftsmen and their dexterity.

Are you planning to follow the siren song of sports sponsorship?

Not for the time being. We are indeed celebrating the 10th anniversary of Overseas this year, which represents 20% of our turnover, and we will continue to produce leisure watches, but it is not the brand’s vocation to get intensely involved the sports race as such. We are launching a GMT version at the SIHH, during which we will be introducing six new models in all, including a minute repeater model with perpetual calendar, and a retrograde perpetual calendar with patented display. You will also discover a new concept, Platinum Excellence, reflecting in each collection the mastery of platinum we have cultivated for several centuries.

What are the major tasks you must now undertake?

We have already planned to make significant investments in R&D, both in human and technical terms. Their premises in the Vallée de Joux will be larger and able to accommodate new dedicated development machines. On the commercial side, we will continue opening new boutiques, especially in the Far East, which will have a major impact on Vacheron identification and sales. In China for example, where we already have six , and two new ones are scheduled for the coming years. Particular attention will be focused on the United States and the entire company will be involved in this move. We are setting up a task force entirely dedicated to the project so that the whole of Vacheron will be oriented towards this priority market. I am a project-oriented person and I like to work on fundamentals; we will thus define three priority markets and concentrated our efforts on them over the next three years.

Does the explosion of brands aspiring towards a high level of exclusivity worry you?

Vacheron Constantin has been around for 250 years, but the phenomenon should not be ignored. These new watchmakers are talented, but they keep us on our toes. Moreover, they also attack the retailer’s purchasing power in an attempt to take slices of a cake that is not infinitely extendable. The watchmaking art belongs to all of us, but many of these brands are struggling and their continuity is not guaranteed.

Where does Vacheron’s greatest potential lie?

In its brand, its watchmakers, the mastery of its crafts and professions, and the skills of all the teams.