The second oldest brand Watch Watch, launched in 1737, was launched by the second oldest Watch brand in the world (Blancpain founded in 1735 the oldest) has a chess history. This was the victim of the seventies quartz crisis, but in 2011 he was again re -purchased by Titan. In 2020, however, Titan attracted the plug to further funding because he was unable to success the brand.
The brand disappeared until last year, when it was again due to the fresh rental of life when it was bought by SilverCity Brands and built the veteran Patrik Hoffman near Kormidla. With more than three decades of experience in the Swiss industry, Hoffman watched the brand again at the Geneva hours in August.
In the conversation freely Business todayHoffman, chairman and CEO of Favre Leub, talks about re -launching, challenges, importance of India and the Swiss tracking industry. Modified excerpts:
What is your strategy to revive the brand and what challenges do you expect?
The intention is to restart the brand. Of course, we are aware that there have been quite a few launches in the last 30 years, but everyone has failed. But I believe we are now with the right product at the right time. I am the kind of person who starts from bottom to top, which means I will start with the product. The product is the key in our development, our planning and is also a hero. We realize that we have to build the brand in the next 10-12 years. In our planning we call it a revival. Today the watch market is very vintage models, so we took some of our vintage collections and made it modern. That was the first part. The second part must be faithful DNA, the inheritance of society, because society has such a deep -rooted heritage. We kept it alive in design codes and also in terms of prices or market placement. That was crucial.
We introduced our first pieces on the Geneva Tracking Days in August at global startup and the feedback shows that we are on the right track.
How important is India as a market for you?
It is the right time to restart the brand, especially here in India, because India is flourishing right now and Favre Leuba has such a deep history in India. Right now and at the foreseeable future we look at India as our main market. Almost half of our current production of 4,000 watches is for the Indian market. In India we look at 30 sales points. We have an exclusive partnership with Ethos. We hope to open our first boutique in India in 2026.
Did you face any challenge to run again?
When you start a mechanical product, you need expertise. You need people to help you produce your watch. That would be a challenge, but our timing was right. The decline in the Swiss watchmaking industry helped us because many doors have been opened for us. Two years earlier they would say that they do not have capacity.
From the planning phase to the time we launched our 22 models in Geneva, it was only 10 months. We were working on Breakneck. We started delivery within 14 months.
What production capacity do you have right now? What are you looking at?
We currently have 4,000 hours in production. And then next year we will increase the capacity to 8,000 pieces per year. And in 10 to 12 years we want to be approximately 100,000 hours a year.
Which markets you focus on in addition to India?
Central Europe with countries such as Austria and Switzerland. Then we have Eastern Europe countries such as Poland and Czechoslovakia, because the brand is well known. Then we have Japan, which has a history with a brand, followed by the Middle East and at the end of this year the United States.
Who is your target audience for an improved watch?
Favre Leuba has a big fan. They are collectors. Of course, as soon as we move to 100,000 pieces, we become more mainstream. Our final consumer is mostly a man looking for a great value for money. We are awards between 2,200 Swiss francs and 4,400 Swiss francs.
Did you say it is based on men, but are you looking at the female collection?
Absolutely. We are in product planning. We hope that we will start a ladies line or certainly in 2026 by the end of the year. Women's watches are part of our DNA. We have old catalogs that show the fantastic watches of the lady.
Do you see a digital watch as a threat to this industry?
No. Are there certain brands that are injured? Sure, there is no doubt. But not the industry as such. I think it's free because it encourages young people to wear something on their wrists. At some point they decide to switch to another statement. And remember that the Swiss watch is not such a large industry. So we must be at the top of the product, but also in terms of communication.
What are your thoughts of the current state of the Swiss watch?
We're in a drop right now. But it always comes back. So isn't the question for me that it is coming back? The question is that it returns in 2025 or in 2026? Well, that's my answer. The industry will be reflected over the next 18 months.
