In 2009, another brand made its introduction to the SIHH, the Ralph Lauren Watch & Jewelry Co, a joint endeavor between the notable lifestyle brand and the Richemont Group, the watchmaking goliath. However, the path has not been straightforward and after several unclear assortments and falterings in situating the brand, the brand was missing from the SIHH 2016. Though, this was not the finish of the story. New teams, repositioning of the collections, appointment of industry veteran Guillaume Têtu, first as Product Development Director and as COO since October, at long last a watchful comeback of the brand at the SIHH 2017. It was ideal planning for us to plunk down with our long-term companion Guillaume and to comprehend his vision for the Ralph Lauren Watch & Jewelry Co.
Before we let Guillaume clarifies his vision and the technique Ralph Lauren wants to execute for its Watch and Jewelry division, the enormous news ( as revealed by our partners Watchonista here ) is that the brand will be formally back at the SIHH in 2018 (this year, the brand was in the SIHH salons however didn’t have a conspicuous corner, as past years)
You joined Ralph Lauren a year prior. Would you be able to enlighten us concerning the new improvements in the manner the brand is forming its watch offering?
Ralph Lauren Watch & Jewelry was made in 2008 and the assortment was dispatched in 2009 during the SIHH, 8 years prior. The objective, since day 1, has been to set up a solid contribution of fine watchmaking and jewelry, in organization with Richemont Group.
When I joined the company as Product Development Director, my main goal was to keep on building up the product offerings with Mr. Lauren himself and the plan group in New York, just as smooth out the item advancement measure to be more effective. The item portfolio was at that point very much created, with 4 primary columns for the watches connected to 4 in number universes of Ralph Lauren:
- The equestrian world with the Stirrup
- The Automotive, connected to Mr. Lauren’s energy for delightful cars
- The Safari, the ideal outside and experience collection
- And the ArtDeco(Slim, RL888, 867) – exceptionally New York!
For Jewelry, we have 3 in number universes additionally; Equestrian, Art deco, and Glamor with our Chunky Chain. We have a plainly characterized pyramid of items, with a top down plan methodology; high jewelry and complicated watches at the top, verifiable fine watchmaking in the center, utilizing Piaget, JLC or IWC types on account of our accomplice, the Richemont Group, and for our ordinary pieces we use quartz developments from Cartier or Sellita, with steel cases. So we cover a reach from $1,800 to $900,000!
I assumed control over the initiative of the company in October as COO, and I’m truly amped up for this extraordinary test, which is loaded with a promising circumstance and permits me to proceed with the excursion I began, creating Mr. Lauren’s vision of fine watchmaking.
This seems like a sound, reliable methodology. We accept this implies that you intend to deal with dissemination as well? What is the current status in this respect?
We have solid perceivability in our own lead store network around the globe, with 50 Ralph Lauren entryways, just as a couple of free retailers, essentially in Japan and the USA. Since we have characterized a reasonable and predictable scope of watch assortments, this will empower us to open key accomplices in the principle markets around the globe to help increment our perceivability and arrive at more customers.
Our chronicled normal cost was $15,000, anyway we will currently include a more extensive proposal inside the $2,000 to $6,000 territory, which bode well as we have clear DNA, exceptional item plan and particular contribution in the lifestyle segment. Indeed, we are the solitary brand ready to guarantee that way of life positioning.
So we will free more ways to focus up to 100 autonomous retailers, it’s a decent harmony among perceivability and exclusivity.
At SIHH 2017 you have introduced a few grande complications to us. What is your procedure concerning top of the line timepieces?
Mr. Lauren is truly enthusiastic about watches and we generally conceptualize about items that we could make to build up and position the brand. Mr. Lauren’s decisions are not about compromise, he truly understands what he needs and we give a valiant effort to cause individuals to comprehend that this is a genuine endeavor, driven by energy and creativity.
This year we introduced a Minute repeater, an extraordinary piece, in a delightful white gold thin case; and we built up a Tourbillon and Double Tourbillon, in our one of a kind and particular Automotive Wood bezel plan. We have a genuine interest in making such astounding pieces and we have some truly requesting authorities of the brand who share our energy for excellence.
How does the Ralph Lauren watch business profit by the joint endeavor with Richemont Group?
The term Joint Venture is actually quite precise. We have the most awesome aspect both worlds! Ralph Lauren drives the imagination, plan, brand picture and communication, from New York, so I’m there consistently to audit the assortment, tentative arrangements, item advancement and plan, notwithstanding having outline of marketing. Richemont is offering all the types of assistance needed to build up a fine watchmaking and jewelry company. We approach the developments from the Maisons, the plants, the inventory network, the stages on the business sectors, and all regulatory help (IT, HR, etc)
In our joint endeavor, we put together the item advancement, the quality control, gathering, store network and calculated, the business, advertising and managerial coordination. It’s a little company upheld by 2 giants.
What about jewelry?
This is most likely the greatest region of improvement we can expect for the following not many years!
With our 3 columns, we have colossal potential, as in the fine watchmaking, as we have a solid brand picture, with a current base of items and clients. Ralph Lauren is an incredibly mainstream brand. So we will keep on dispatching new items to complete our assortments, beginning with the “consistently” fine jewelry from 2K to 6K USD and going up from that point. We have no restrictions, we have offered some bespoke improvements of high jewelry at 1 Million USD. Additionally, we have re-dispatched our historical Chunky Chain collection and we will expand the family as expected for Valentine’s Day!
With an unmistakable item variety, a solid organization, and a decent blend between fine watches and jewelry, our future is splendid. As Ralph says: “it’s simply the beginning!“