Roger Dubuis was launched in 1995, making it one of the youngest actors in the Swiss watch industry, which is about 200 years. How to travel so far?
I would say that our company has experienced three major phases. It was launched in 1995. The baby is born. We supported the Richemont Group in 2008, when approached adolescence. And about 20 years of existence, we enter adulthood. There is a certain maturity that is to come.
Certainly, we are young. It is a very young industry horologerie. You can be young when you're in the fashion industry. As the characters come and go in this segment. But we do not live in style. We live in because we have a very strong technical content, which is added to the design. But first, you need technology. If you do not have the engine, you will not be able to watch. And it normally takes a few years to accumulate.
We were lucky, the vision of Mr. (Roger) Dubuis from the first day, and it is always with us in society. He believes complications. He believes in Geneva Hallmark. You know that all our products are of the Geneva Seal. And we are the only company in the world, all of our products 100% seal in Geneva. So if it is good (watch), or a man or a double tourbillon, price or income of diamond studded, all are certified Geneva Seal. What is the origin of the report, because we are not in Switzerland, in Geneva we did. Many companies are behind Swiss Made. We do not.
I was not aware of such a crucial difference between Geneva and Switzerland was made.
Oh yes. We need 40% more time to make every move that would take if we made the same movements as Geneva. As we polish all the parts by hand. It has some of the benefits to the customer, such as Final power reserve, water resistance, and also the difference between the show and, finally, that the products are not Hallmark of Geneva. In addition, we can not lie to our origins. We need all of our employees and headquarters in Geneva. Our head office is located in the center of Geneva, and if it had been 10 km on each side, we would not have Hallmark of Geneva. Again, I want to mention, we're not Swiss, Geneva did.
What separates the Roger Dubuis watch anything else?
I would say that we are one of the absolute in the watch industry. Our average price is around € 25,000. We also have a limited retailers. We are only 170 points of sale everywhere in the world. Many other watchmakers which are unique in their own rights is at least 500-800 outlets. Just to give you an idea, some watchmakers to the mass market can go up to 50,000 points of sale.
In India, we have two offices, each in Delhi and Mumbai. Do we want more? Well, we do not want to grow next three to five years, more outlets. We want to stay in the historic partners and we want to keep the world's major cities. We are not supposed to be in all the cities that can drive our brand, we want to limit as much as possible the distribution of, because we need to find qualified people who can sell these high-end pieces. We do not sell replica watches. We sell a piece of genius that happens to tell time.
And that you need people really qualified to tell the customer why pay up to see it.
So back to the question of what makes Roger Dubuis is different from our competitors, well, we are very well-paid, we are very selective in our approach to the distribution of our products, and we are one of the few brands with strong technical content of design is not normal. Today, if you see the Haute Horlogerie brands, they are all classic, and they are all men. Roger Dubuis believes a stronger technical content and design are identified.
And of course we have the Geneva Seal certification.
And all of these factors have enabled us to be in the market. We do not have a separate brand. There are 700 brands in the industry, and if you want to establish yourself as a brand and not just 701th, you have to give some of the technical issues that are different than the others. It is your identity.
So we have the technical content is also supported by the Geneva Seal, we have a model that is slightly exaggerated to make a strong distinctive from the competition.
In 2008, the Richemont Group acquired a majority stake in Roger Dubuis. And Richemont owns about a dozen luxury watchmakers. Is this the effect is not making any difference?
I would say that there was a twofold effect. One might be interested in a large group when it comes to retail, communications centralizing budgets, negotiating the best places in the world of retail, you name it. And two, when it comes to quality, luxury watches, it is one of the world's most difficult to approach. Why? Since you spend a lot of money off the watch. And the first thing you expect is that it works. And at the same time, the haute Horlogerie complications more you add, the more likely it will not work at all.
If you want to buy a watch safely, you can buy a quartz two years. That you are sure is, and if it's not, throw it away and buy a new one, because it does not cost you anything (as opposed to a mechanical watch).
Richemont is a very large value, and updates the processes in industry. So all 31 of our models, we do to ourselves. And none of Roger Dubuis movements found in other shows, which is different than the general practice in the industry where watchmakers distribute the engine.
In the future, the field is divided into brands that buy parts and manufacture parts. We believe the future of luxury watch brands is that manufacture parts.
Richemont has given us the opportunity to re-industrialization of the 31 meter with us.
Now, there is a large pressure group? Yes. But it makes sense. If they buy the Roger Dubuis brand they have expectations. Then, of course, have to do.
