CEO Corner: Aldo Magada, CEO of Zenith Watches, on Courting China’s Swiss Watch Connoisseurs
The head of the Swiss luxury watch manufacture explains why Zenith is "not someone’s first watch; it’s their second or third" in the China market.
Zenith CEO Aldo Magada. (Courtesy Photo)
Zenith CEO Aldo Magada. (Courtesy Photo)
Contents
- Tell us about your new partnership with Range Rover and what it means for the China market, where Jaguar Land Rover sales in September were up 28 percent over a year earlier.
- Zenith currently has six boutiques in mainland China. Are there any current plans to expand?
- The brand emphasizes that its heritage dates to 1865 and its movements are made in-house. How important are craftsmanship and brand history to Chinese watch consumers? Do you see their priorities changing?
- During China’s recent Golden Week travel period, many Chinese opted to go abroad, where luxury shopping is a major activity for them. How important are Chinese outside China to Zenith’s global business?
- What portion of your sales currently come from China? Is this likely to change in the future?
- As the luxury watch market has slowed in Hong Kong and Macau, many brands have been renegotiating retail rents, or closing stores. What is Zenith’s strategy?
- Jean-Claude Biver recently told Jing Daily that Zenith was the LVMH brand most affected by the Chinese government’s anti-corruption campaign. How so?
- In a new austerity era in China, what are the best ways to market to an elite clientele?
- As top luxury brands consider whether to embrace e-commerce in China—including selling on platforms including Tmall and WeChat—what is Zenith’s approach?
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