“I AM EXPECTING GREAT THINGS FROM THE ANTINQUORUM OMEGAMANIA AUCTION”

How is Omega’s new Geneva boutique doing, and which of your stores sells the most watches worldwide?

The results of our Geneva boutique exceed our hopes, both in terms of actual sales and of the number of visitors. Since Geneva is the cradle of Swiss fine watchmaking, and Omega originated from Biel, one might have expected people in Geneva to greet this newcomer with a degree of caution. Instead, many of them have come to rediscover the brand universe and its full range of collections. If we maintain this pace, figures for the Geneva boutique will soon catch up with those of our Zurich branch, itself hot on the heels of our Hong Kong Omega boutiques which are the largest in the world. But we have also recently opened in London, Madrid and Moscow.

How do worldwide sales in boutiques compare with those made by retailers?

You cannot compare the two sets of figures. The Omega network comprises 4000 points of sale worldwide, whereas we have only around one hundred Omega boutiques, of which only 30 are own-name establishments. The role of these boutiques consists in enhancing brand awareness and providing it with the kind of visibility that would be unthinkable for retailers due to lack of space. It represents value added for the entire network by conveying strong values and helping customers grasp the sheer size and spread of our collections.

What are your expectations for the Antiquorum Omegamania auction*?

I am expecting great things from this sale. Omega was already present on the antique watch market, but not in its rightful position. We have been working on this event for a full two years and are proud to be presenting an extraordinary catalogue. This auction should serve to reposition the brand in terms of both pricing and image, which have thus far been seriously underestimated in this field. Let me absolutely clear about this: while Omega does not have a fundamental image problem, the sheer diversity and the scope of its field of action are nonetheless not necessarily known to the public at large. Over the past few years, we have been seeking to place Omega in a legitimately more upscale segment than that which it is generally perceived to occupy. This strategy is thus being supported by the Antiquorum auction, as well as through the launch of the new co-axial movements, boutique openings, or the ongoing development of sponsoring operations and Omega ambassadors.

Does the number of your lady ambassadors (4 out of 13) reflect the proportion of ladies’ watches in total Omega sales?

To be honest with you, I think it’s a pity to have only four women. Ladies are extremely important to Omega, whether in terms of timepieces or themselves or the recent jewellery collection that made a strong impact on women. In actual fact, the share of feminine products accounts for 48% of sales. Moreover, one must recall that men’s watches are also bought by women, which means that the true proportion is doubtless higher than that.

How and by whom are the Omega ambassadors chosen?

There are basically two types of approach: a proactive one initiated by us, or a spontaneous interest shown by a given personality. In the former case, we have a well-defined objective in terms of image and operations, which means we look for the best match for these goals and then contact them to examine the possibility of a long-term relationship, such as with Nicole Kidman. When the approach comes from an artist or a sports champion, we are always open to such suggestions and examine the value of such a potential cooperation. In all cases, it is always a joint decision involving myself, the Executive Board and Mr. Nicolas G. Hayek.

What can we expect at Baselworld this year in terms of new launches?

In addition to the Omegamania auction that will guarantee us a high profile during the fair, we are launching the Calibre 2500 of the Hour Vision concept and are also celebrating the 50th anniversary of the Speedmaster. This commemoration will coincide with the introduction of limited-edition Speedmaster models that are bound to delight Omega enthusiasts.

Which are your current strategic markets?

We try to balance our efforts worldwide. This being said, the brand established itself in China 112 years ago and there are now 40 Omega boutiques there. This is a country that is developing rapidly on all levels, including the rise of a middle class that will play a prime role in ensuring the continuity of this expansion. Omega holds a leadership position in China, while in India, it currently finds itself in a position similar to that which it occupied five to seven years ago in China. We have good local partners and I am thus extremely confident in respect to the Indian market.

What are your fears for the Swiss watch industry as a whole?

In terms of mechanical watches, a certain number of industry leaders are apprehensive of a radical change in customer behaviour vis-à-vis this highly distinctive product. Personally, I think that we are past this stage, and that the mechanical watch has now acquired a status in daily life that protects it from such a reversal of fortune. For many people, watches have become cult objects. For this reason, my greatest fear would be that public perception of this object might become blurred by the excess baggage being carried by the current market. Too many brands and too many promises could prove detrimental to its image. It is dangerous to take advantage of the currently prosperious economic situation to sell anything at any price. At the end of the day, both we and the customers aspire to the same thing: established credibility and true values.

* Theme auction organised by Antiquorum on April 14th and 15th 2007 and featuring 300 Omega lots