The launch of Baume (yep, just Baume), a new brand for Millennials marks a first for Richemont and is another response to changing times. In this case, concerns that traditional wristwatches are not on the radar of Millennials. The watch is not Swiss-made and not a luxury piece. It is assembled in the Netherlands and uses Japanese movements (Citizen’s Miyota) for its quartz and automatic collections. It also uses Swiss (Ronda) movements for some quartz pieces. Its hallmarks are that it is affordable (priced at $650, $630 and $1,100), customizable, available on the web, and produced with care for the environment. (See Jon Bues’s report on Baume here.)
“What is Baume?” asked Grund at the financial analyst meeting in May. “It’s young, it’s eco-conscious, it’s digital. I think that captures the essence of it.” And, he added, “For us, it’s a bit of an edgy proposal, being in a quite conservative industry.”
Lambert welcomed “the birth of a new maison within our portfolio.” Baume was developed by a special team within Baume & Mercier (hence the name) but has its own management team. Lambert explained the strategy. “We want to recruit new clients for the luxury watch segment, and it is very important for us to nurture the desire step by step, and to continue to raise the relevance of fine watchmaking to a new generation. We go one step further with Baume. It’s a different positioning for clients interested in shopping digital, personalization, and an environmental awareness approach.”
If you want a glimpse of how Switzerland’s watch brands will navigate the omnichannel, brick-and-click future of the luxury watch business, keep an eye on Richemont.
from Best Watches For Men https://ift.tt/2MJh6Po