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December 15, 2011

CEO Jean-Marc Jacot on the Secret of Parmigiani’s Success

By Spear's

A Mark of Quality Parmigiani Fleurier CEO Jean-Marc Jacot tells Spear’s the secrets behind the brand’s success, from Bugatti to Beijing, and reveals how it’s building for the future

A Mark of Quality
Parmigiani Fleurier CEO Jean-Marc Jacot tells Spear’s the secrets behind the brand’s success, from Bugatti to Beijing, and reveals how it’s building for the future

We know that you were previously with Ebel, Gerald Genta and Hugo Boss. What prompted you to move to Parmigiani, and what have you brought to the brand?

The main connection between Parmigiani and me is Pierre Landolt (president of the Fondation de Famille Sandoz). He introduced me to the brand and my objective was to build the brand and develop it.

At the beginning of October, Philippe de Korodi was appointed as chief operating officer for Parmigiani Fleurier, with Michel Parmigiani and yourself continuing in your respective roles as president and CEO. Does this signal an intention to expand the brand, and how will operations be divided between the three of you?

Philippe integrated Parmigiani Fleurier to reinforce the management in order to develop the company. Michel is responsible of the watchmaking development (particularly the development of the movements) and specific products and restoration. I am in charge of the strategy, the communication and design studio.

Describe a Parmigiani watch — how long does it take to make, what is the price point and where do you see the brand positioned?
The Parmigiani watch is basically in the prestige segment. It shows high quality and creativity but with understatement. It takes from two months to two years to produce a watch and prices range from €8,000 to €2 million.

How many units do you create?
Parmigiani manufactures 5,000 watches per year.

Who is the typical Parmigiani client, and what does he look for in a watch?
The typical Parmigiani client is successful and wealthy. He has high-quality, discreet watches because he is a self-confident customer.

In 2010 you set up ‘Ateliers Parmigiani’ in Istanbul and Moscow…

The Ateliers Parmigiani are platforms of the brand for customers, journalists and retail networks around the world. The Ateliers have been very successful, with three more openings this year — one in Shanghai, two in Beijing — and we are going to open in Singapore.

How has the Parmigiani Bugatti project been received?
The concept is different from other watch/car concepts. The Bugatti 370 are sold out, which is why we developed the concept of Bugatti Super Sport. There will be 200 pieces and the first 30 are sold out for 2012.

You’ve recently unveiled two new watches, which were inspired by pieces from the Sandoz Collection…

Because of this type of collection, we observed how watchmakers worked 500 years ago. It’s an inspiration. 

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