To understand IWC as a brand, we have to go back to where it all began. In 1868, American watchmaker Florentine Ariosto Jones started his manufacture in Schaffhausen and created many incredible pocket watches, along with 10,000 movements per year. Jones was able to produce the large numbers because he used the right machines and tapped the Rhine’s hydropower. Many of these watches were made for the American market. Unfortunately, by 1875, Jones was unable to meet the high expectations of shareholders and returned to the US. From 1880, various people ran IWC. Among them was the Rauschenbachs, a Schaffhausen family of industrialists, who took over the entire company and started selling its watches worldwide.
- The Special Pilot’s Watch was launched in 1936;
- In 1944, Homberger appointed Albert Pellaton, a recognised authority on technical and production processes, as technical director at IWC. Pellaton was the driving force behind the development of the company’s first automatic movement;
- In 1967, Hans Ernst took over and the Aquatimer made its debut.
10 questions for the CEO
New CEO Christoph J Grainger-Herr spoke with representatives of the Singapore media. Excerpts from the interview follow: As the new CEO, what are some of your priorities?
There are many priorities, but first, it is a fantastic time to be at the helm of IWC because IWC is one of the few watch brands that I believe has the potential to become one of the leading brands in the world. And there are some markets that have fantastic growth potential such as the US and China, and I do think we have the right brand, the right product and the right strategy. Now, we need to really invest in those markets strategically and make them IWC markets, especially since we relaunched the Pilot’s watches in 2016. In terms of what we are doing, the movement development is key on the product side. So, we have started to introduce the 69-calibre chronograph movement, which is going to be the backbone of all our chronographs in the future.
It is exciting to see a concept coming alive and a special moment as the new manufacture becomes a home for the brand. It is going to show our clients very clearly who we are and what we are about. I think it sets the tone now for the next 100 years going forward. Does having a new manufacture mean an increase in production?
Potentially, yes. The capacity is there and that’s why we did it. We have ambitious plans and if all goes according to plan, this will increase capacity quite a bit, more so on the movement manufacturing side. When you think about the Ingenieur, more and more chronographs will have the 69 calibre; that is quite a steep curve for in-house movement production and the new building is an essential part of that. Do you plan to keep IWC’s in-house movements exclusive to the brand or share it with other brands in the group?
Leveraging on the R&D potential between the brands always makes sense. If you have a number of brands and good technical innovations invented by one brand, it does not make sense to keep them apart. We have to make sure that the character of each brand stays individual to that brand, but we can leverage the power we have as a group in R&D to make sure that we have the best possible components in our movements. We are constantly exploring what can be shared and what makes sense. Founder Florentine Ariosto Jones gave IWC this industrious spirit. How relevant is it today?
It is highly relevant because there is always fusion with the best in technology and the best craftsmanship. There are things in watchmaking that cannot be done better than by humans such as regulating a watch’s movement — this is a job for the master watchmaker — but there are other things that we can do such as developing technological solutions in-house. When I think about the oiling of movements, we have actually developed machines that do that much more precisely than any human ever could. Our engineers are working out technological solutions to a problem, which give a superior quality to a product. This is not necessarily about scaling up manufacturing, but about making sure that you have craftsmen using their best skills and machines doing what they do best; that together has always been the spirit of IWC. Again, it is something we are very proud to show because many of these solutions were developed in-house and at the end of the day, the clients benefit from a better product. What are some of the plans for the 150th anniversary next year?
In January, we will be introducing a major new campaign as well as a new ambassador. It is very exciting; we just shot the movie and I am very happy with it. We will also have a roadshow where we will bring the 150 years exhibition plus the Jubilee collection to selected locations around the world. Can you comment on IWC’s success?
We enjoy doing the things that we do because, essentially, we are all boys with big dreams. We do the things we love and our clients love them too. It is a constant exchange on that front. When we go to our events and meet our customers, we understand what they are into. This is where the introductions come from. For example, at a racing event, someone said “Have you met the guys at Megatronic? Because they are really good at...”, and that’s how you meet other people. And then, these people are fascinated by watches, and we often find that people who like these sort of machines also like watches. Also, very often, we have meetings to discuss a collaboration and after a few minutes, it becomes clear that we share the same design spirit. We have just entered a new design collaboration for 2019 and after meeting these guys for 10 minutes, it was clear that it was going to work. It was clear that we understood each other and the designers spoke the same language, shared the same values. What is your vision for IWC?
My vision for this brand is to stay focused around the idea of “engineered for men” — values such as “timeless design meets functional watches” have a unique story around them. That has the potential to be relevant to a much wider section of the market than we have today. I hope that this will be a big watch brand in the US and that all the key markets will continue to grow in Asia to make it into the top five. Is the term ‘international’ still relevant today?
It always has been. We’ve always tried not to be focused on one thing or one region. There were times when brands were running after particular markets but we said we wanted to grow evenly across all regions, because if one region runs into trouble, you have other regions to rely on. I think the only way to become a relevant luxury brand globally is to have global versions of your brand. It doesn’t mean that you have the same concept everywhere. It means that you have a recognisable brand DNA that you transport globally and that’s why, yes, international has always been important and will always be important for us. Did you oversee the development of this collection?
When I took over, the Jubilee collection was well-advanced. We were at that stage of defining the details... sort of the last stretch. Next year’s collection that you will see in 2019 is the first one that I developed from scratch with the design team.