Swiss watchmaker Carl F Bucherer's targets Asia-Pacific >

01 november 2006

By GOH EE KOON - Wednesday November 1, 2006

KUALA LUMPUR: After spending most of the past century retailing its products in Europe, Lucerne-based watchmaker Carl F Bucherer is taking bold, aggressive and adventurous steps into the Asia-Pacific market. 

The brand is part of the Bucherer Group AG, started by jeweller Carl Friedrich Bucherer, who began producing its own watches in 1919.  

Carl F Bucherer watches are praised by purchasers for its meticulous attention to detail in craftsmanship, and the balance between technology and the aesthetics in each timepiece. 

 
Jurg Monstein

For a long time, its Far East customers have had to travel to Switzerland and other European countries to purchase them. That will be something of the past soon as the brand has plans to establish a firm foothold in countries like China, Hong Kong, Singapore and Malaysia.  

"We have, in fact, targeted our biggest markets here - China and Hong Kong - and are concentrating on penetrating those places," Carl F Bucherer executive vice-president of sales Jurg Monstein told StarBiz in an interview when he was in Malaysia recently.  

While the brand has largely been retailed in Europe for many years, it embarked upon a repositioning process in 2001 to broaden its market base - hence, its move to Asia and the US.  

Asian customers, for instance, tended to buy it for its beauty and prestige, while China's rich consumers acquired it more as status symbol, he stressed. 

Monstein said: "Customers in China don't like too many complicated or contemporary designs. They keep their tastes traditional - they like their 18-carat gold. In Hong Kong and Taiwan, customers are far more trend-conscious." 

In contrast, US customers tend to buy more timepieces for their unique movements and complications. Asian customers are, however, becoming increasingly aware of watch technology as well, he said. 

Monstein admitted that investment in Asia was heavy. 

"As Carl F Bucherer is a family-owned company, it does not have the limitations of a public company that has to be accountable to shareholders.  

Carl F Bucherer watches are praised by purchasers for its meticulous attention to detail in craftsmanship and the balance between technology and the aesthetics in each timepiece.

"It is controlled by a Bucherer family member who considers the company his baby and is therefore willing to invest in its expansion."  

Monstein, however, declined to offer any figures. He noted that tapping into the lucrative Asian market was not without its risks.  

"However, it is something that most brands are going through as well, as many have also just entered the market."  

According to him, after its repositioning and campaign to build its international stature, Carl F Bucherer was currently one of the fastest growing luxury watch brands in the world.  

As part of its expansion plans, the company hopes to set up stand-alone boutiques in Hong Kong, Singapore, China and Malaysia when the opportunity arises.  

Currently, outside of Switzerland, it has one stand-alone facility in St Petersburg, where sales to the Russian nouveau riche make up a significant portion of group revenue. 

In Malaysia, Carl F Bucherer watches are currently found in The Hour Glass boutiques. 

By next year, it would also venture into Japan, which Monstein admitted, was crowded with other watch players but was potentially highly lucrative.  

"We are in the process of finding the right points of sales there, and we aim to have 60 points of sales in that country in five years," he added. 

Asia and Europe contribute about 30% each to Carl F Bucherer's revenue, about 20% come from the US while the Middle East contributes the rest.  

With Japan in the picture next year, Monstein said Asia would soon become the brand's main revenue generator.