Girard-Perregaux has put its retail partners at the centre of its future strategy in its first public statement since CEO and chairman Patrick Pruniaux led a management buyout of the business from Kering.
A press event at the company’s headquarters in La Chaux-de-Fonds this week focused on building the brand around its two core collections, the Laureato everyday timekeepers and historic Bridges family of dressier and more complicated pieces.
Kering completed the sale of Sowind Group SA, home to Girard-Perregaux and Ulysse Nardin, to its management team in January this year for an undisclosed sum, with the new chief Mr Pruniaux declaring: “We have the right setup and resources to implement a plan capable of ensuring the long-term development of both brands”.
At the press gathering this week, Clémence Dubois, chief product and marketing officer for Girard-Perregaux presented the progress being made with the Laureato.
Two fresh references hit stores this quarter, one a piece with a black onyx dial in 42mm rose gold watch and bracelet ($54,000), pictured below.
The other an addition is to the steel-on-steel core line with a $14,300 ivy green Clous de Paris dialed piece that will go on sale in November exclusively with Wempe before moving into worldwide distribution (pictured top).
Ms Dubois described how retailers will be at the heart of everything Girard-Perregaux does moving forward.
The brand will work with its partners on the design and positioning of new watches, and is promising fewer, more commercial, novelties in a more coherent portfolio.
Unlike rivals such as Audemars Piguet, there will be no direct sales for GP.
The company’s website directs customers to their nearest retail partner, rather than selling through ecommerce, and the network of authorised dealers will be carefully managed to ensure they are all successful.
If there are any monobrand stores in the future, they will be run as franchises by authorised dealers.
“We will be 100% wholesale,” Ms Dubois says. “We rely on working with the very best partners, the likes of Bucherer, Watches of Switzerland and Wempe,” she adds.
Gierard-Perregaux will limit its authorised dealer network to around 250 doors, split equally three ways between Asia, Europe and the Americas.