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The gucci twirl watches market became international

The distribution world is facing significant challenges these years. To try to see things more clearly, the Fondation de la Haute Horlogerie (FHH), jointly with Bocconi University in Milan, conducting the investigation. Results will be presented next January at the Salon International de la Haute Horlogerie 2010 in Geneva. Taste with Carlo Ceppi, Mission in the delegation to Italy-Greece and the FHH Manager for IWC in the Peninsula.
What exactly is this survey?

Carlo Ceppi: This is a scenario to put on two years regarding the world of distribution is changing due to the internationalization of the markets. In addition, the continued growth of the last ten years, enhanced by the feeling of power marketers, distributors gave the impression that it was very easy to increase their profits year after year, with the result, a situation where stocks are excessive. With the crisis we are living, consumers are shifting to models of iconic brands that have strong legitimacy, security question. But at the retail level, this translates into wholesale promotional efforts, so for large discounts and a resurgence of the gray market to reduce inventory.
Can we make distinctions according to the markets?

In Europe, where distribution is older, we are dealing with many small structures, especially in the South, made up of family companies finally unprofessional. In the North, retail chains are stronger, more important, with the need to cover their costs through sales consistent. In terms of new markets, the supply is different and is mainly in the moles and large shopping centers.

In these circumstances it would be desirable, in marketing terms, that the collections of watchmakers take greater account of local peculiarities, especially in mature markets through closer collaboration with retailers. In these markets, we must inevitably expect a reduction in the number of outlets in order to enhance the quality of supply in terms of staff training, presentation models and customer service. In the same vein, retailers should focus on a smaller number of brands to ensure greater professionalism. For their part, the houses are likely to become more selective in their networks of sales outlets to stick to consumer wants to be advised by specialists, as in brand shops that will also continue to multiply. In a word, great changes are taking shape in two to three years to come.
What about the Italian market itself?

In Italy, sales structures are almost all based on family companies. In addition, the current crisis comes at a time when many are those entities to cope with a change of generations. In other words, the relations are increasingly strained between small retailers and large distribution patterns of multinationals in the industry. In parallel, more and more brands open their own shops, as recently Patek Philippe and Rolex Milan, while the outlets are disappearing in the urban periphery and smaller towns. In a market currently characterized by a lower quality of supply and inventory glut, saying that the work ahead. The challenge will be to sell less but with better margins and better quality of service expectations. Today, consumers want perfect products in terms of quality at prices justified. In recent years, gucci twirl watches makers have almost tended to forget.。
Interview by Christophe Roulet



In its latest survey on gucci ladies watches retailers (11th Watch Retailers Survey) published in June, Goldman Sachs expressed no surprise over the negative sentiment ever recorded at points of sale of the Company since the inception of the study, eleven years ago . The outlook for sales as the traffic generated to consumers have never been so low. Retailers also expect lower prices paid to their suppliers in order to preserve their margins. As for the destocking process underway, it is likely he will continue in the coming months.

According to the inventory levels identified by the bank, there is nevertheless reason to believe that the situation is stabilizing phase. In other words, if the inventory reduction in progress still likely to put pressure on manufactures, this phase of the cycle appears in a relatively advanced stage. If sales to final consumers were expected to stabilize in the second half, retailers could replenish their inventories faster than expected. Goldman Sachs, it is certainly too early to say that the industry rebound is in sight but the downside later became today with a relatively limited risk / return profile in the securities sector now more attractive .

According to the study, at a time when end users are looking for products for which they are getting value for money (value for money), five houses are emerging as the winning brands in this phase of decline, synonymous with share gains market, namely Breitling, Cartier, Omega, Rolex and Tag Heuer. In conclusion, the bank puts the shares Bulgari (a strategic asset unique in the world of luxury), Richemont and Swatch among its recommendations to purchase. Q.C.






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