MGS Distribution has confirmed that it will be handling sales of a new range of Ferrari-branded watches that will launch next year.
Movado Group, which owns 50% of UK wholesaler MGS Distribution, has secured the world-wide license to design, manufacture and distribute a collection of watches under the Ferrari and Scuderia Ferrari brand names.
Steve Brydon, sales and marketing director for MGS, revealed exclusively to Watchpro that the company will sell the watches into its channel of retailers in the summer of 2013 following an official unveiling at Baselworld in April of next year.
Clarifying earlier reports, which suggested prices would be upwards of 1000 euros, Brydon said that these higher price would be reserved for collectors’ editions. The volume price point will be in the £100-500 range so the target market will be Ferrari fans rather than Ferrari owners, he suggested.
“We believe there will be watches priced for the H Samuel end of the market, and another collection that will sit more comfortably in stores like Ernest Jones,” Brydon explained. Expect to see sporting models with lots of time-keeping functionality and racing-related designs such as rubber straps and tyre patterns on the dials, he predicted.
The Ferrari brand is expected to open up new channels for MGS Distribution, which is best known for fashion watches like Hugo Boss, Lacoste and Juicy Couture. “Ferrari is a really nice fit for us at a key time. It will help us reach out to a whole swathe of retailers that will value the iconic brand,” he said.
It won’t hurt his broader sales and marketing efforts either, Brydon admitted. “This type of license will undoubtedly open up opportunities for MGS to entertain our customers at Ferrari events like Formula 1 grand prix,” he said.