Hands-On with Baume, Richemont’s Fashion Watch Experiment
When Richemont announced it was entering the affordable luxury or “fashion watch” segment with Baume (sans Mercier) it was a surprise for a number of factors. Not only is the market share of this segment rapidly closing due to the social media savvy of brands such as Daniel Wellington but smartwatches are rapidly encroaching on terrain that was typical of the quartz-buying, design-friendly audience that Baume is targeting. And, what was most surprising for watch enthusiasts was that Richemont was giving up its Swiss-made designation and utilizing Miyota movements (quartz and mechanical) purchased from Japan’s Citizen Group.
Looking at it from Richemont’s perspective makes a little more sense. I can imagine a Richemont executive saying something along the lines of: “There are millions of people wearing watches in the sub-$1,000 range that would never think of spending $8k on a [insert Richemont brand of choice]; why not bring them into the Richemont fold so when they’re older they’re fully indoctrinated. Why are we not actively pursuing those potential customers"”
A large part of Baume’s appeal is based on two factors that differentiate itself from other “fashion watch” brands: sustainability and personalization. All unused components are recycled, there are no animal-based products or precious materials involved in the production, and additional items, such as the interchangeable straps, are made from ...
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