Off the back of Baselworld, Switzerland’s annual watch extravaganza, we ask Ricardo Guadalupe, CEO of Hublot, what’s next in the world of watches
What are the biggest changes in the world of watches since you took over early last year?
I think the business has been growing, but it’s also more challenging. 2012 was a great year, same with every year after that right up until last September; then it got a bit troublesome.
The entire industry is facing difficulties due to what’s going on in the world. The slow-down in China, the oil prices in the Middle East, unrest in Russia.
These are uncertain times, and that proves troublesome for the world of watches. However, there is also tremendous opportunity in challenging times. If we are creative and innovative, then we can become a stronger brand overall.
Have there been any specific changes that you’ve had to deal with?
There hasn’t been a change. It’s always been tough to be creative and innovative. And these things cannot be quantified, they are done by instinct, by feeling.
We do whatever we think is good, and that creates an evolution in the watch industry. I think smartwatches are changing the game a little bit, but more so for watches in the same price range.
I do think there have been some aesthetical changes – watches get bigger, then smaller, for example – but it’s a continuous process.
Hublot is a big supporter of The World Cup.
Yes, football is a huge partnership for us. When the fourth referee holds up the time board, you see Hublot.
Whenever we partner with someone, we do it for the ‘wow’ factor. That’s why we’ve also partnered up with Ferrari so that they can buy a matching watch to go with their motor.
We’ve just done a few special watches for Berluti – mainly to acquire new customers who might not be familiar with our classic Big Bang watch. It has a strong identity – very sporty, but still very classic and elegant – but there is a lot of room for unique elements from partners like this.
Does Hublot prefer to work with brands or individuals?
We prefer working with brands, especially ones that complement our trademark style.
However, we do work with people too – Lapo Elkan for one. I would like to say there is a rubric for this, but it’s entirely dependant on the individual or the brand.
Each company must be a good fit, and so too must an individual. Jose Mourinho was an ambassador; Pele was an ambassador. So too was Maurizio Arrivabene and Aalama in the Middle East.
How much of Hublot’s success can be credited to the Big Bang?
I think it was the key to Hublot’s success, and still is. Last year was the Big Bang’s ten year anniversary, and it still is as revolutionary now as it was back then.
What makes it so impressive is its modular construction – we call it the sandwich structure. This allows us to customise many different parts of the watch and create many different and unique products. The same model can be produced in thousands of various combinations.
Today, the Big Bang represents about 60 percent of our total sales.
Which model are you wearing at the moment?
I’m wearing the all black Big Bang Tourbillon. For me, the all-black concept was fascinating – as it doesn’t make the time very obvious. We call it invisible visibility.
Now, if you look at all the other brands, they all have all-black watches too. We were the first to start using ceramic and rubber and once again, other watch brands are producing watches with the same materials.
I very much like the tourbillon model, because it’s an in-house movement. I like this complication because it feels like you’re wearing a spectacle on your wrist.
How important is the Middle East market?
I would say that Hublot and the Middle East works well together. I think we share a similar taste; it’s quite a ‘macho’ market in the Middle East, but not without a sense of sophistication.
That is exactly what we do with the Big Bang. It’s been one year since we opened our flagship store in Dubai Mall, and since then we have been flying sales wise.