At the 24th Geneva International Watch and Clock Fair (SIHH), Watch House is honored to interview Mr. HannesPantli, a member of the board of directors of IWC. Watch House asks Mr. HannesPantli for related issues of concern to netizens. Let’s take a look at the Chinese market and future plans in the eyes of Mr. HannesPantli.
Watch House: At present, the watch market is fiercely competitive. How does IWC keep ahead in such a fierce competition?
Mr. HannesPantli: Our brand attaches great importance to the Chinese market. We are very optimistic about the Chinese market and have always been very satisfied with its performance in the Chinese market. Although the economic growth has slowed slightly in the past two years, it has not affected our confidence in the Chinese market. We will also launch some new watches to respond to changes in this market. Focusing on the Chinese market is not just focusing on Chinese local consumption. Chinese buyers have a strong purchasing power all over the world. In several well-known tourist cities in Switzerland, cooperative retailers can achieve 50% of their tourism consumers’ sales from China. We are concerned that only 3.8% of Chinese tourists go to Europe, and only 3.8% have created such a large spending power, so we are very optimistic that more Chinese people will come to Europe for sightseeing in the future, driving Greater consumption.
Watch House: What do you think of the Chinese market?
Mr. HannesPantli: No matter from the population of China or the speed of China’s economic growth, we are full of confidence in the Chinese market. The Chinese market is also a very important market for us, and we also value the Chinese market very much. We find that Chinese consumers are constantly growing and their tastes have changed. They no longer like some classic or special watches as they did before. Now they have more demand for new designs and are selling well in other parts of the world. The styles are definitely selling well in China. We have also made special models for China in the past. For example, in the Year of the Dragon we launched the Portuguese special model of the Year of the Dragon. Such models are also very popular in China. Other models are global. .
Watch House: IWC launched the ‘Little Prince’ commemorative series at the Hong Kong Watch Fair last year, which is very popular. Will IWC launch similar special models this year?
Mr. HannesPantli: The Little Prince series we also know is very popular in China. At present we have some plans under discussion, such as new models or other cooperation, but the specific situation may come to Hong Kong clocks and miracles in September. Announced in the table show, currently we have no way to disclose more.
Watch House: ETA movement factories will have less supply, will this have an impact on IWC? Will IWC introduce a low-cost watch with its own movement in the future?
Mr. HannesPantli: At present, we still maintain a very good cooperative relationship with ETA, and we will not be affected by the reduction in ETA output. Now we are also preparing a new factory. We will invest considerable capital in self-produced movements. We plan to use our self-produced movements in 2017 in a comprehensive manner. In recent years, some people hope that we will use more self-produced movements. We believe that ETA movements are very guaranteed in quality, because of cost considerations. When manufacturing 100 movements and 1 million movements, the And cost control is another very big difference. At present, if we fully use the self-produced movement, the price of the watch will also increase, this part is also a part we need to consider.