Jewelry watches made from precious metals and graced with precious stones now turned to be viewed not so much as regular timepieces, but as high-end luxurious jewellery items. Such watches are made by jewelry craftsmen who are first and foremost experts in jewelry design and art and also understand watch movements.
Independent Swiss manufacturer of luxury watches Raymond Weil is a brand worldwide known for its exclusive gold watches decorated with diamonds. The company’s classical chronometers in pink gold stand proudly in the ranks of pace-setting models this year. The combination of traditional design with aesthetic elegance, the use of elaborate techniques and various materials, plus the high quality of goods made this watch brand very popular accross the markets of Europe, North and South America, Asia and Oceania. Every year, Raymond Weil sells approximately CHF 200 million worth of watches. The Geneva-based company is continuously expanding its worldwide presence driving the number of its sales outlets to more than 3,500 stores in 95 countries.
Alexander Laimer, Raymond Weil’s Country Manager for Europe, told us about the latest fashion trends in the watch industry.
Popular Swiss watch brands usually start from some far-off story. What was yours?
Raymond Weil established this company in 1976. After 27 years of experience in the Swiss horologic industry and being for many years CEO of another Swiss factory, he decided to start and create his own independent brand in the middle of a watch industry crisis. That time was a special period as old Swiss brands like Omega, Longines etc. were suffering from the fact that in the 1970s there happened a new revolution bringing in quartz watches. He tried actually to find a way to come up with a new collection making it something in between, looking as very expensive watches of good quality, always 100% well done. In the last 10-15 years we faced big changes in a totally different direction. And we wanted to be very creative in different styles, in quartz and mechanical watches, making time pieces for ladies with a lot of diamonds, both black and white, so this was the way how we changed.
Is there any correlation between more expensive watches and more difficult sales?
Not really, actually Raymond Weil discovered and I can tell you out of the last years that our average sell-out price increased year by year. I think people who really want to have something special they are also likely to invest in these watches. May be they buy a new watch every year just to have a good watch with quality and design.
Are your main markets changing with time, what new markets can be prospective for the expensive watches?
We are very strong in Asia, because everything at this moment is very strong in Asia. Also in Russia, we are there since many, many years and we are quite strong, because there is a big demand for jewellery and watches in our price range. And also the brand is very strong in the U.S., we have a long history there, as we started in the U.S. in 1978. In Europe – Austria, Spain, Belgium, Italy and England. I can say that the first three very strong main markets for us are the U.S., China and England, also by turnover percentage. Germany started to grow for watch market since two years back, 50/50 for men and ladies watches.
As a rule, diamonds are made for women. How do men take it that their watches sparkle no less than those worn by women?
It’s a good question. In our history we are very focused on ladies watches. This year, we make more for ladies; at this moment 60% of our watches are made for ladies and 40% for men.
From our experience, men, of course, more prefer to buy diamond watches for ladies. Honestly, there are only a few markets where they like to have diamonds in their watches and these are the Emirates and Russia. In Europe, men prefer mechanical watches or big steel watches, which you can easily read. But we can feel already that it’s going a little bit back to the size of 39-41 mm, not any more like big watches 46-50 mm in diameter. Of course it depends of the style. A sportive watch is bigger and if it is more classical, it is smaller.
What is the percentage of diamond watches in your total output?
It is almost 5%.
According to recent statistics, the watch industry has become one of the most stable consumers of diamonds. Do you think this consumption will grow?
Diamonds are forever. Diamond consumption in the watch industry will be always increasing, because diamonds make the whole watch livelier and especially when the watch is under light, you may have different effects from that. And I think people want to invest in watches with diamonds to have a sort of small investments. Of course, there will be growth in demand for diamonds from the watch industry.
If we talk about diamonds, they are forever. What about watch mechanisms?
A good watch mechanism is normally made for generations. Of course, it depends on which movement you are using. But when you take care of it and it means that every 5 years you should make a service and everything, I am sure that you can give it to your kids, and kids will give it to their kids. In addition, all diamonds in your watch remains as an eternal symbol of love and constancy in any case. Fantastic combination for generations.
How many price ranges do you have?
For men we have sportive watches, which are sold at a higher public price from 3,000 to 5,000 euros. Then there is a freelancer chronograph starting from 2 500 euros and a more businessmen direction from 1 500 to 2 700 euros.
If you look at the last collections, it has become fashionable to make a small open window in the watch body, so you can see the clockwork. Who was the first to come up with such a good idea?
Open heart collections turned to be a trend starting 5 years ago. It was a demand from clients, who wanted to show that their watches were mechanical. It was very interesting, like a heartbeat, like something is going on. The price range for such watches start from 2500 to 2900 euros.
In what price range do women prefer a diamond watch?
Our fine jewellery watches for ladies usually come with diamonds in gold from 6,000 to 8,000 euros.
Before, it was believed that to give diamonds for weddings or anniversaries was a good sign. How can you comment the current situation, when people while choosing a gift shift their preference from diamond rings to diamond watches considered to be a more necessary thing in contrast to the ring? Is demand smoothly switching over from jewelry to expensive watches?
It is always depends on the market in question. If we are talking about the Russian market, yes, for sure, you are absolutely right one hundred percent. Ladies prefer to have very nice watches with sparkling diamonds. In other markets, the situation is the same, but for the kind of people, who love luxury and love to wear diamond watches, because normally they have already a lot of diamond rings. And they are looking for something special, so they may choose a diamond watch, which fits fantastically to the whole outfit.
Currently, it is a vogue among young women in Russia to wear very heavy gold watches. Who came up with such a heavy-handed style for fragile women? Or is the goal to beat goldsmiths in buying gold?
I think it is because watchmakers are trying to bring in something really special, which is outstanding and different from the others. This trend is especially well going at such international luxury places, like Cannes, Monte Carlo, Beverly Hills and Los Angeles. This is a clear statement to the environment. The lady who is wearing a big men’s watch is giving a big statement: “I am a women, I stay on my own.”
The Russian market loves this latest fashion too. Russian women like to be individual, different, they don’t want to have the same products as others. And this is very good for the watch industry, to have a lot of different big watches, gold watches with diamonds.
How often does Raymond Weil appear in social media?
Today, the Raymond Weil community takes part in all new media sources and has official pages on Facebook, Twitter, YouTube, Foursquare, IPhone app, Tumblr, Pinterest and LinkedIn - these are ideal places to reach clients and fans.
Veronica Novoselova, Rough&Polished
