In Parmigiani Fleurier, one discovers a wholly unlikely success story; like so many of those, it appeared to occur just about in a single day but it was many years within the making. Little doubt you understand that that is concerning the Tonda PF assortment since this was the household of watches that modified the trajectory of the model again in 2021. This a lot is apparent, and thus typical knowledge additionally has it that the particular person accountable right here is none apart from CEO Guido Terreni. The person himself just isn’t so fast to embrace this function within the story to this point, though he actually agrees that Parmigiani Fleurier is on the highway to a brighter future. We predict he deserves credit score a minimum of because the navigator but additionally because the architect of the narrative.
In the newest Morgan-Stanley report on the state of the Swiss watch trade, Parmigiani Fleurier powered into the highest 50 manufacturers (at quantity 46) for the primary time. Whereas this report, and others prefer it, are merely indicative somewhat than definitive, it nonetheless highlights how far the model has are available in a couple of quick years. Again in 2020, as lockdowns have been being eased right here, we wrote that collectors and the neighborhood ought to take the difficulty to reacquaint themselves with Parmigiani Fleurier. Then the agency affirmed our curiosity with the discharge of the Tonda GT Sport, by far probably the most good-looking and commercially oriented assortment to bear the Parmigiani Fleurier badge.
Terreni, who took the helm at Parmigiani Fleurier in early 2021, instructed us that he felt the foundations of an awesome assortment of watches started with the Tonda GT Sport. On the similar time, he wished to take issues additional as a result of he noticed Parmigiani Fleurier as a model with “a mild and understated soul,” and one thing just like the Tonda GT Sports activities might simply have veered into aggressive territory; there was already a built-in motorsports angle right here in any case. As an alternative, Terreni made a wager on the understated qualities of Parmigiani Fleurier, which critics had lengthy charged have been holding the model again. Terreni’s reply was to go quiet and remodel the model by doing the unthinkable in watchmaking: eradicating the model title from the dial.
Sure, the Tonda PF solely has a cartouche with the model emblem on the dial, a emblem that had by no means been used this manner dial-side earlier than. By the tip of 2021, the brand new Tonda PF was already making waves, and we managed to shoot it for our cowl that 12 months (#63). Three years later, the virtues of the Tonda PF assortment are well-known, and it’s obvious that the shift to utilizing a badge as an alternative of the model title is clear elsewhere too, even within the distinctive creations such because the L’Armoriale pocket watch (see Highlights this situation). To make certain, utilizing a emblem as an alternative of a full model title, even when the founder continues to be very a lot within the image, is comparatively odd. In watchmaking, contemplating how small the product is, you may suppose this nothing a lot however you’d be incorrect. Swiss watchmaking is nothing if not conservative and also you solely should scan by numerous interviews with Terreni to see how usually he obtained requested about this. For the report, we requested him to in our final two chats with him.
For this most up-to-date assembly between ourselves and Terreni, we skipped the model title questions and went in decidedly extra idiosyncratic instructions.
We didn’t get an opportunity to get into your ideas on Watches and Wonders Geneva once we met there so let’s begin there.
Nicely, I’m very keen on worldwide watch festivals like Watches and Wonders Geneva, particularly qualitative ones. This 12 months (2023) we set our second appointment with the trade, with purchasers and with the press in a continuation of what we had performed the 12 months earlier than, once we returned to (a bodily truthful) and put Parmigiani Fleurier again on the watchmaking map.
To me, this truthful specifically must be THE actual appointment of the trade. I’d love that each model showcases at Watches and Wonders Geneva as a result of it’s every week during which the general public tunes in on watches; watches should not a purchase order one makes ceaselessly (in relation to the broader public). So not all people’s actually following what the manufacturers are doing (on a regular basis) and should you’re shopping for a watch each five-10 years, it’s not such as you observe the trade like people who find themselves within the trade. So having an appointment during which all people is aware of that there’s one thing to observe and (occasions that one can observe) to me may be very instrumental.
So you might be constructive on the general public days then?
I used to be used to this in (the now-defunct) BaselWorld, which was open to the general public and was ticketed. The general public, the commerce and the press weren’t separated; they have been all collectively (though appointments have been wanted to stroll into the personal areas inside model cubicles).
Right here, at Watches and Wonders Geneva, the organisers desire to have some separation as a result of the area is smaller, so for logistical causes, it needs to be this manner (the PalExpo area for Watches and Wonders Geneva is probably going smaller than simply Corridor 1 of BaselWorld, for some context – Ed). This 12 months, there can be three days devoted to the general public and I believe (all manufacturers will) be extra prepared this 12 months than final 12 months. The general public took us abruptly in 2023. There have been greater than 10,000 guests over two days and the common age was 35. It was actually individuals who have been within the early days of understanding what watches (and the pastime of gathering watches) is about. You must put money into (bettering and elevating the) information of the viewers, and it doesn’t matter if they won’t purchase instantly. At the least they develop their curiosity and so they get to the touch and really feel the merchandise; (the truthful) turns into their introduction to the manufacturers.
”You must put money into (bettering and elevating the) information of the viewers, and it doesn’t matter if they won’t purchase instantly”
This speaks to one thing we mentioned beforehand – all the brand new folks drawn to watchmaking. How does Parmigiani Fleurier converse to this group, whereas balancing the wants of the established collectors?
Nicely, it’s fairly pure; I believe you need to adapt…to customize your speaking factors. (If somebody already is aware of the model story) you’ll be able to skip this and instantly go on to a topic that’s particular and deeper. All of it relies on who you’ve got in entrance of you. So normally folks buy groceries in a bodily retailer to be educated, as a result of they’ve been launched to the watch or the model once they noticed it on the wrist of a pal, or they examine it. There’s a kind of analysis that the shopper does – particularly when going up in value (of any given watch), you might be usually going deeper into watchmaking content material. After all, not all people is a watch lover. Lots of people are simply shopping for the look ahead to the hype or as a result of it’s cool…they just like the aesthetics. What drives folks is private, you understand, so the model has to narrate to the viewers individually.
We didn’t get an opportunity to get into your ideas on Watches and Wonders Geneva once we met there so let’s begin there.
Nicely, I’m very keen on worldwide watch festivals like Watches and Wonders Geneva, particularly qualitative ones. This 12 months (2023) we set our second appointment with the trade, with purchasers and with the press in a continuation of what we had performed the 12 months earlier than, once we returned to (a bodily truthful) and put Parmigiani Fleurier again on the watchmaking map.
To me, this truthful specifically must be THE actual appointment of the trade. I’d love that each model showcases at Watches and Wonders Geneva as a result of it’s every week during which the general public tunes in on watches; watches should not a purchase order one makes ceaselessly (in relation to the broader public). So not all people’s actually following what the manufacturers are doing (on a regular basis) and should you’re shopping for a watch each five-10 years, it’s not such as you observe the trade like people who find themselves within the trade. So having an appointment during which all people is aware of that there’s one thing to observe and (occasions that one can observe) to me may be very instrumental.
So you might be constructive on the general public days then?
I used to be used to this in (the now-defunct) BaselWorld, which was open to the general public and was ticketed. The general public, the commerce and the press weren’t separated; they have been all collectively (though appointments have been wanted to stroll into the personal areas inside model cubicles).
Right here, at Watches and Wonders Geneva, the organisers desire to have some separation as a result of the area is smaller, so for logistical causes, it needs to be this manner (the PalExpo area for Watches and Wonders Geneva is probably going smaller than simply Corridor 1 of BaselWorld, for some context – Ed). This 12 months, there can be three days devoted to the general public and I believe (all manufacturers will) be extra prepared this 12 months than final 12 months. The general public took us abruptly in 2023. There have been greater than 10,000 guests over two days and the common age was 35. It was actually individuals who have been within the early days of understanding what watches (and the pastime of gathering watches) is about. You must put money into (bettering and elevating the) information of the viewers, and it doesn’t matter if they won’t purchase instantly. At the least they develop their curiosity and so they get to the touch and really feel the merchandise; (the truthful) turns into their introduction to the manufacturers.
This speaks to one thing we mentioned beforehand – all the brand new individuals are drawn to watchmaking. How does Parmigiani Fleurier converse to this group, whereas balancing the wants of the established collectors?
Nicely, it’s fairly pure; I believe you need to adapt…to customize your speaking factors. (If somebody already is aware of the model story) you’ll be able to skip this and instantly go on to a topic that’s particular and deeper. All of it relies on who you’ve got in entrance of you. So normally folks buy groceries in a bodily retailer to be educated, as a result of they’ve been launched to the watch or the model once they noticed it on the wrist of a pal, or they examine it. There’s a kind of analysis that the shopper does – particularly when going up in value (of any given watch), you might be usually going deeper into watchmaking content material. After all, not all people is a watch lover. Lots of people are simply shopping for the look ahead to the hype or as a result of it’s cool…they just like the aesthetics. What drives folks is private, you understand, so the model has to narrate to the viewers individually.
”A collector or watch lover likes to browse and evaluate; he likes to be suggested by someone who is aware of greater than him”
So, we all know how a model would work this on the bottom, in its personal surroundings. Parmigiani Fleurier works with many companions although and is most seen in a multi-brand setting. What’s your strategy right here?
I believe Parmigiani Fleurier is clearly engaging to someone who’s well-educated in watchmaking and who normally prefers to buy in multi-brand environments. It’s because a collector or a watch lover likes to browse and likes to check; he likes to be suggested by someone who is aware of greater than him.
And once you go right into a mono-brand retailer, the employees there know loads about their very own model, however they lose observe of what’s taking place exterior. So, you’ve got an expertise which is one-to- one on the model, however you can’t evaluate. I do know this from my expertise with my earlier firm (Bulgari, the place Terreni was accountable for watchmaking – Ed). The advisor who works in an expert multi-brand retailer is extra of a impartial advisor who builds a relationship with a collector, and advises him on what works (or might work) for him.
Let me offer you an instance: I used to be in Germany, in Hamburg, and had dinner with two collectors that have been very avid collectors – each rich and younger. One among them was dwelling in Berlin and I used to be going to Berlin the following day. I requested him why he drove three hours to have dinner with me as an alternative of assembly me the following day. He instructed me that he was following his advisor, who had moved from Berlin to Hamburg (after a promotion). So this collector continues to be served by the identical advisor as a result of he trusts him; there’s clearly a bond there (and that is what occurs at the perfect multi-brand retailers).
For this reason I’m so eager to see how the brand new idea Honest is doing in KL will go. The SHH area is extra of a lounge than a retailer the place you’ll be able to go the time, take pleasure in your pastime, and share your ardour with people who find themselves skilled. (As a consequence) you don’t solely see issues which are business.
And that is your tackle the multi-brand retail expertise versus what some watch manufacturers are attempting to do by creating their very own mono-brand shops?
(As talked about), the multi-brand (retail) advisor turns into a kind of advisor working within the pursuits of the watch lover (and naturally the retailer) and creates a bond based mostly on belief. there are such a lot of novelties yearly and you can’t navigate this, caring together with your job, with your loved ones, etcetera. It’s not everybody who has the time (and inclination) to check the trade. And so yearly, you (the collector) ask your advisor what’s new, what’s thrilling? What do you suppose would go well with me? This you can’t do very properly in a mono-brand surroundings (and even) in a multi-brand one
since you are targeted on the business customary collections. Once more, this is the reason the SHH is attention-grabbing to me. That is the best factor to do for the multi-brand retailer who desires to outlive this warfare as a result of there’s a hidden warfare between manufacturers which are integrating their distribution and multi-brand retailers which are shedding sure attention-grabbing manufacturers as a consequence. To outlive, they’ve to offer a service which is larger than the only relationship with (sure) manufacturers that they carry.
If I have been a multi-brand vendor, I’d not do an occasion with a single model. I’d do an occasion on micro-rotor watches; I’d do an occasion on chronographs; on calendars; or on the completely different kinds that (are naturally current) in a multi-brand surroundings. I’m not a multi-brand retailer, in order that they do what they need, but when I have been them that is what I’d do!
Duly famous, and it will likely be printed! Talking then of micro-rotors and the retail expertise, one closing query on the Tonda PF. This can be a watch that that you must see up shut and really feel, particularly with the knurled bezel and the bracelet being as it’s. Superficially, it appears to be like very very like the Tonda GT Sport, however it is rather completely different. The retail expertise have to be paramount right here? And the way does the model go about ensuring that match and really feel are glorious?
Nicely, what you’re asking may be very good as a result of it’s very tough to convey the consolation of any given watch with only a image; to point out it to a movie. You don’t grasp the fact till you place it in your wrist.
And to design a cushty watch is an artwork. It’s actually not straightforward, and it has loads to do with the load (of the watch head, and of the supplies used); with the way in which the watch sits in your wrist. It has loads to do with the flexibleness of the bracelet. All these substances have to come back collectively to make an expertise which is comfy and I believe the Tonda PF with micro-rotor is probably the most important instance – this watch began every little thing and varieties the matrix of every little thing that we’re doing. So, on the bracelet we did for the Tonda PF… Once you design a bracelet, which isn’t a completely versatile bracelet nevertheless it’s a semi-rigid one, principally the designer has to decide on an arc. This arc is a statistical curve of your entire inhabitants. It’s not your wrist; it’s not my wrist. OK, so in centimeters, my 17 1/2 wrist is completely different from yours as a result of my bone construction is completely different from yours and so forth.
And it’s not the wrist that has to adapt to the arc of the design; it’s the watch that has to adapt. To me, that’s why the flexibleness of the bracelet is extraordinarily necessary.
And there’s additionally the preferences of various markets the place generally individuals are OK with having the watch kind of sit all the way in which in direction of the tip of the wrist, and a few folks insist that no, no, it should sit (snugly) earlier than the (protrusions of) the wrist bones.
This text first appeared on WOW’s Spring 2024 situation.
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