CEO Corner: Michel Parmigiani, Founder of Parmigiani Fleurier, on China: “We Are Seeing Very Positive Signs”
In an interview, the founder of Swiss watchmaker Parmigiani Fleurier shares his optimism and strategies in a trying time for the industry.
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- In a recent interview with
- Jing Daily
- , LVMH Watch Division President Jean-Claude Biver said, “It’s time again to push forward in China and to invest strongly.” Do you share his sentiment and optimism?
- In a 2012 interview with the
- South China Morning Post
- , Parmigiani Fleurier CEO Jean-Marc Jacot said his primary focus was going to be rolling out an image-building “affordable luxury” campaign (affordable PF being around US$10,000/71,500 RMB). Was that campaign successful? What did the company learn from this initiative?
- In that same article, it was stated that Parmigiani Fleurier employs at least one Chinese-speaking worker in each of its directly operated stores in Europe and the United States. Does that remain true?
- In 2011, you opened two Studio Parmigiani shops in Beijing and Tianjin, and the following year, Parmigiani Fleurier opened a shop-in-shop at Emperor Watch & Jewellery in Hong Kong. Have these boutiques performed to expectation?
- Swiss watch exports to mainland China have remained soft, but some brands have seen a slight rebound—where is Parmigiani Fleurier in this mix?
- What are the most important aspects of the Chinese luxury market in the years ahead, and how does Parmigiani Fleurier intend to address them?
- Many luxury brands have been wary of pursuing e-commerce in China, while others have been very active with online sales. Should the watch industry embrace online retail?
- In the past, you’ve stated that Parmigiani Fleurier will not pursue creating a smartwatch or collaborating on one. As other Swiss watchmakers explore this brand extension avenue are your opinions swayed?
- You created “The Dragon and the Pearl of Wisdom” haute horlogerie clock to celebrate the Year of the Dragon in 2012. However, unlike some of your competitors, you do not release annual Chinese New Year wristwatches. What was behind your thoughts in creating The Dragon and the Pearl of Wisdom, and what why do you resist Chinese New Year zodiac special edition watches?
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