Core brands: Breguet, Omega, Omega global sales revenue accounted for about 20% of the Group's watch sales
Operating under the leadership of Nicolas G. Hayek for more than 20 years, the Swatch Group has evolved from a crumbling Swiss watch company into the world's largest watch company. Since the 90s of last century, the Swatch Group has led two rounds of mergers and acquisitions affecting the Swiss watch industry, incorporating an inverted pyramid brand structure of 18 watch brands, acquiring the status of a luxury watch and re-establishing the Breguet brand through a series of Operation to promote its becoming second only to Patek Philippe's auction house "darling", and then become the flagship of the group luxury watch. At the same time, Swatch Group also sports marketing driven by Omega and other high-end brands continue to grow. More importantly, through the acquisition of parts suppliers such as the integration of the upstream movement, it almost monopolized the manufacturing resources of accessories and rewrote the industry pattern and development mode of Swiss watches.
On December 5, 2007, Tiffany announced a strategic partnership with Swatch Group, where Tiffany outsourced its watchmaking and sales to the Swatch Group and shared some of the profits from the related businesses. Seemingly all-powerful, in fact, Tiffany's broken arm move, in the Bulgari, Richemont and other luxury goods group watch business has been enlarged to 20-40% of the proportion of revenue, the focus of the diamond business Tiffany watches business only accounts for 2-3% of the company's business, in the face of more stringent competition, the last resort to the Swatch Group.
Compared with the downturn in the watch business of Tiffany watch, the Swatch Group, which specializes in the clock and watch business, is in full swing. Its 2006 revenue and operating profit increased by 21.63% and 50.85% (Table 1) respectively from 2004, Business luxury goods group, from January 1, 2003 to December 31, 2007, the Swatch Group shares rose about 210%, respectively, higher than Li Feng, LVMH, Bulgari's 193%, 102%, 101 %, While its share price has risen about 25% in recent years, which is much higher than Liffe, LVMH, Bulgari 5%, 2.5%, - 12%.
Swatch Group's success today, thanks to around 2000, under the leadership of the Swiss watch industry, two rounds of mergers and acquisitions. The first round of the acquisition of luxury brands as the center, the Swiss watch brands almost all fall into the hands of Swatch Group, calendar peak, Rolex and other groups, luxury brand watches into the oligopoly competition stage. In the second round of parts-manufacturing-centric consolidation, the operating rights of the related companies were transformed. The Swiss hand-workshop system that had been operating for centuries was almost completely destroyed. The watch brands owned by oligopolists such as Swatch Group, Richemont and Rolex were concentrated The degree is further improved, and resources are redistributed among several oligarchs. After two rounds of integration, the Swatch Group formed a brand structure with an inverted pyramid of 18 brands. Its influence in the field of luxury goods has been greatly enhanced and the accessories manufacturing resources have been almost monopolized. As a result, the voice of the Swiss watch industry has risen unprecedentedly.
The first round of integration, construction inverted pyramid brand structure
Prior to the first round of mergers and acquisitions, the Swatch Group, which owns high-end watches and clocks such as Omega and Blancpain, is still primarily focused on middle and low-end products. At this time the international watch industry, the quartz watch more and more popular, high-end watches Swiss mechanical movement is facing a standstill, this time, firmly believe that the Swiss mechanical movement represented by high-end watches will usher in the heyday of Haye G, began to lead the Swatch Group large-scale acquisition of luxury watch brands.
The earliest and most important one was the acquisition of Breguet in January 1999. Hayek himself is one of Breguet's major collectors. Since then, the Swatch Group has also acquired the enamel (Jaquet-Droz), Glashütte Original, etc. (Table 2). After completing a series of acquisitions, the Swatch Group formed a fully integrated watch brand with a full range of market opportunities: on the luxury surface, Vacheron Constantin and Earl of Bremen, Blancpain, Omega and Richemont, as well as independent Brand Patek Philippe, Rolex competition; in the high-end brand level, the Longines, Rado (RADO) and Tudor (Tudor), TAG Heuer, Bulgari and so on; in the mid-tier brand level, the Tissot, Mido MIDO) to compete with Titoni; at the low end, Swatch competed with CITIZEN and Casio.
Moreover, the Swatch Group formed an inverted pyramid brand structure, namely low, medium, high-end, luxury watches, the proportion of the number of brands 3: 6: 3: 6, the number of high-end brands especially luxury brands have an absolute advantage , Attracting more affluent consumers by satisfying different consumer preferences (below).
In fact, as the center of the Swatch Group moves up the list, the proportion of the income of the watch in the group becomes larger and the income of the watch in the list grows faster than that of the middle and low end brands. Data show that in recent years, the Swatch Group's luxury brands revenue has maintained double-digit growth, Tissot and other mid-range brand growth rate of nearly 10%, while the low-end brands such as Swatch growth rate is relatively low, and vulnerable to the dollar Affect the fierce competition with Chinese products.
It is worth noting that, while the Swatch Group is rapidly expanding in the luxury watch market, other luxury goods groups also compete in the same circles. The magnanimity of the giants has profoundly changed the power of luxury watches.
Remodeling Breguet brand to create a luxury flagship
Upon completion of the acquisition of the relevant brands, the Swatch Group uses the Group's strong resources to tap the endogenous growth of the brand. One of the most classic case is Breguet. After Swatch acquired Breguet, Swatch Group repackaged Brevo to become the flagship of the Swatch Group's luxury brands by working in synergy with brands, culture, manufacturing, technology and marketing.
Breguet dates back to 1775. Brera's founder and talented technician Abraham-Louis Breguet opened its first watch shop in Paris, drawing on the knowledge of watchmaking and craftsmanship that drew the best craftsmen of the time Joined the door, began his legendary watch life. In 1782, the earliest self-winding pocket watch was introduced. It possesses innovative features such as two-way interrogation, 60-hour power reserve display and double barrel winding. In 1883, Breguet introduced its own chime bell to design an elegant hollow dot pointer Known as the Breguet Pointer), improved balance spring (later known as Breguet); and invented the shock absorber in 1790, and its greatest invention tourbillon device, eliminating the gravity on the escapement The impact of greatly improving the accuracy of the clock.
For Edison, the watch industry, the Duke of Hesse Castle, one of Europe's most famous families, commented: "Breguet seems to have invented everything, and any future technology or design seems to be nothing more than a coup d'état for his invention." With these crafts and inventions, Breguet swept the whole of Europe, princes of all countries are proud to have Breguet watches, and even the French Queen Marie Antony has also customized a pocket watch to Breguet. In this promotion, the time-consuming 27 years, a collection of timepieces, automatic clockwork, timekeeping, temperature display and other functions in one pocket watch done, the crystal surface, the case back and gold are built case encrusted diamonds, called the clock and watch industry Unprecedented masterpiece.
However, after the death of Abraham-Louis Breguet, Breguet gradually lost its glory days. From the 1950s to the 1990s, when changing hands several times, it not only failed to reach the ancestral realm, but also traveled earthly and declining. Nonetheless, Hayek still believes that Breguet has an unparalleled brand advantage, because Breguet contains the genius of Abraham-Louis Breguet, with the legendary history comparable to Patek Philippe. Hayek took Breguet from Investcorp, an investment company, and resigned as CEO and president of the Swatch Group in 2002 (leaving only the chairman of the board) and was transferred to Breguet's chairman of the board of directors from product structure, movement manufacturing, marketing operations, etc. The right remedy, remodeling Breguet brand.
In terms of product mix, Hayek changed the previous position of Investcorp on the Breguet sports watch. "Breguet is part of European cultural heritage and its motto is culture! Breguet is a marvelous marriage of technology and art, with Breguet , You have both Einstein and Beethoven. " As a result, Hayek reduced the production of its pre-M & A flagship product, Type XX, and replaced it with a tourbillon watch that best embodied the company's masters.
Breguet movement in the manufacture, the Swatch Group took over before the Breguet had faced quite chaotic situation: Breguet owns a senior movement manufacturing company Nouvelle Lemania, but only 9% of Lemania movement Breguet supply, and Po Ji rely mainly on the product Caliber and Frederic Piguet two series of movement. This situation is not conducive to Breguet brand image. On the one hand, Lemania's top movement is used by other manufacturers, on the other hand, Breguet's Jaeger-LeCoultre movement, also used by other manufacturers, so Breguet watch movement in the core components, there is no unique Advantages, Breguet's brand is therefore difficult to upgrade. To this end, Hayek first reorganization of Lemania movement company, and change it to Breguet's exclusively for movement company, to stop the supply to the other five companies; later, the introduction of Valdar responsible for research and development of micro-machined and precision parts, Breguet only Responsible for the manufacture of special parts. At the same time, Hayek increased the number of Breguet employees from 170 to 230, putting more people into design and development. Structural adjustment, advanced mechanical movement research and development team has gradually introduced a series of new movement, Breguet reinvigorated.
In terms of marketing operations, Hayek also personally involved in the design of a highlight Breguet watches in the history of the unique position of advertising. Advertising to Breguet Napoleon and Churchill, respectively, as the spokesman for the image, and excerpts Balzac, Dumas, Pushkin, Stendhal and other well-known European writers in their works on the description of Breguet, through the famous masterpieces show Breguet profound Historical background. April 2006, Swatch Group and the world's largest watch chain Tourneau reached an agreement to jointly set up luxury watch stores in the United States, to open up sales in the world's largest luxury goods market. In addition, the Swatch Group also successively opened the Breguet Museum in Paris' Vatican Plaza and Geneva, and purchased all the retained forms of the Abraham-Louis Breguet period at no cost. In October 2001, a rare tourbillon pocket watch, produced in 1808, was bought back by the Breguet Museum for 1.95 million Swiss francs.
After a series of operations, Breguet recalled in the luxury watch world, according to Christie's, Sotheby's and Antiquorum auction data, Breguet's price (measured by the highest auction price) has surpassed Rolex, Vacheron Constantin, Audemars Piguet, only Next to the auction star Patek Philippe. In November 2007, a Breguet watch tailor-made for Queen Josephine of France, which was sold at a price of about $ 1.36 million by Christie's, was the third auction record for Christie's watches.
Sports marketing driven Omega and other brands continued to grow
In the powerful operation of luxury brands at the same time, Swatch Group did not give up the high-end watch market.
In fact, the Swatch Group more than 20 years ago is just an ordinary Swiss watch workshop, its predecessor SSIH and ASUAG and other Swiss watch companies, in the 1970s and 80s, by Citizen, Seiko (SEIKO), Casio and other Japan The impact of the clock company, caught in a liquidity crisis and was once faced with the risk of being acquired. Driven by Hayek, SSIH, which owns watches and clocks from Omega and Tissot, and ASUAG, which owns the movement manufacturing company ETA, merged into SMH (the predecessor of the Swatch Group) in 1985 and gradually gained a low-end market Advantage. At the same time, the Swatch Group also continued to strive to maintain the high-end advantages of the original brand. Due to the 28th effect of cheap and premium products and high-end luxury products, which accounted for 80% of the sales revenue of high-end customers, accounting for 20% of the sales volume, The focus of development gradually shifted to high-end watches. Swatch Group in the marketing of high-end watches, sports marketing is an important part of it.
Omega is a high-end brand owned by the Swatch Group. It was born in the same year in Switzerland in 1848 and was world-renowned for its 19-chain movement in 1894 and quickly became a mark of quality. Since then, Omega has technically created a series of records: selected by the RAF as a combat corps in 1917; as a dedicated list of the Italian Air Force in 1933; and a new standard record of 97.8 for the Kew Teddington Observatory in 1936, no opponent so far Breaking; in 1963 became NASA (NASA) official timer, is the only watch worn on the moon; and respectively in 1946, 1967, 1972 won the first 100,000, 1 million, 2 million Hong Kong Observatory certificate.
Due to technical precision, Omega became the official Olympic designated timer for the first time at the 1932 Olympic Games in Los Angeles and served as a timer on 22 Olympic Games thereafter. Omega in response to the needs of the Olympic Games continue to improve timekeeping technology: the 1952 Helsinki Olympics, Omega used the Olympic Games in the history of the first electronic time measuring instrument; 1956 Melbourne Olympics, Omega introduced the world's first photographic camera to solve the previous track and field athletes In 1961, Omega invented the game recorder, so that each player's game time can be displayed on the TV screen; invented in 1966 for the swimming match in the application of the touch pad, due to Players contact to react without being shocked by the splash, the technology is still used for the country's major swimming competitions.
And Coca-Cola, McDonald's and other TOP Olympic partners, Omega benefited from the Olympic Games. First of all, as a designated timer for important swimming and track and field events in the world, Omega's reputation is unique among all watch brands and a symbol of strength as an Olympic partner itself. In fact, Omega was replaced by Seiko to become Tokyo Olympic Games partner, the Japanese watch once dominated the Swiss watch pressure breath; Second, Omega LOGO almost all the timers with the game go hand in hand, and the timer is often related to the project An important background for taking photos, so indirectly for countless advertising opportunities.
In addition, Omega also launched brand marketing around sports, on the one hand, the choice of other sports outside the Olympic Games as a sponsorship project, Omega in all competitions to become synonymous with sports timers; the other hand, invited the Olympic star as a brand ambassador to further consolidate Its strength in the field of sports, Omega's "Celebrity Ambassadors" include three-time runner Alexander Popov, Ian Thorpe, Mike Phelps, tennis beauty Kournikova and Mike F1 Schumacher and so on. High-profile sponsorship and advertising programs also make Omega reputation growing, sales remained at a high level. According to related information, Omega market share in the Chinese market more than 20%, far ahead of other watch brands, sales roughly equivalent to the radar, Longines, Rolex three market share, and Omega's global sales of about 50 billion yuan , Accounting for 20% of its group watches revenue, surpassing LVMH's total revenue from watch business, while profits make up almost half of the Group's total profit and is the undisputed sales star of Swatch Group.
In fact, other midwifery brands such as Longines, Tissot and Mido have the same sports marketing strategy as Omega. Such as the sponsorship of Longines Formula One race, the International Gymnastics Association designated events, international equestrian events, short track skating and other skiing events, the French Open tennis and other events, Tissot sponsored the United States Davis Cup tennis tournament, 2000 Sydney Olympic Games, 2006 Asian Games, China CBA basketball game. With the Group's overall sports marketing, related brands also received excellent market performance. It is noteworthy that, Hayek declared Swatch Group to be the first place in each market segment, and Tissot has also become the first name of mid-range brands.
The second round of integration, manufacturing king, monopoly "Made in Switzerland"
In addition to staking their attention in the field of luxury watches, the Swatch Group has also gradually acquired the manufacturing of accessories for wristwatches. From 1993 to the present, it has acquired eight parts manufacturers. As of 2006, the Swatch Group, a total of 14 parts factories, parts manufacturing revenue accounted for the Group's total revenue ratio reached 27.58%. In fact, the development of accessories not only for the Swatch Group revenue growth, but also will affect the development of the entire Swiss watch industry.
The background to be emphasized is that, for centuries, the Swiss watchmaking has been the division of labor - a small workshop of cooperation, that is, the independent division of labor between the manufacturer and the assembler of the movement, to complete the production of the watch. In recent decades, despite the technological developments that have brought about the industrialization of the related manufacturing processes, the manufacture and assembly of blank components such as the movement, the dial, the case and so on, the brand distribution are still well matched to each other. In fact, in addition to the Swatch Group, Rolex, Richemont and other large watch groups, the Swiss watch industry, few companies can independently produce a watch from start to finish. Most of the brands are purchased to the professional movement of the movement, and then installed in their own design case, this specialized division of labor production mode can greatly reduce production costs. However, this loosely coordinated approach has a fatal weakness that small and mid-sized assemblers will face a very passive situation if the upstream movement company restricts supply. For centuries the Swiss watch industry has "guaranteed the demand for watch accessories for any business" The rules to ensure the continuation of this loose alliance.
Therefore, the continuous acquisition of the Swatch Group's parts manufacturer, is also a supplier of other watch companies, including ETA, Prederic Piguet, Nivarox FAR three important. ETA was formed in 1926 by the merger of several major white movement manufacturers and was acquired by ASUAG, the predecessor of the Swatch Group, in 1934 and is now Switzerland's largest maker of watch movements with almost 80% of Swiss watchmakers Use its movement. ETA supplies more than 30 electronic and mechanical movements to the market. Its electronic movement is mainly supplied by Swatch, while mechanical movement offers a wide range of manufacturers, including high-end brands such as Ulysse Nardin, mid-tier brands Tudor, TAG Heuer, Lai, Longines, and low-end brands Tissot, Mido, Ollie and so on. PredericPiguet, which was acquired by the Swatch Group in 1993, is Switzerland's most sophisticated movement manufacturer with clients such as Blancpain, Audemars Piguet, Breguet, Vacheron Constantin, All Nations, Piaget and other major luxury brands. The Nivarox FAR, which was acquired by the Swatch Group in 2004, almost monopolizes the manufacture of hairspring springs, not only for Omega, Breguet and Blancpain brands, but also for Rolex, Patek Philippe, Audemars Piguet and their clients. In fact, with the three companies ETA, Prederic Piguet and Nivarox FAR, the Swatch Group controls 75% of the Swiss movement's production and monopolizes certain key components.
At this point, Swatch Group almost monopolized the manufacture of watches and clockwork. If the Swatch Group sneezes, all the Swiss watch industry will catch a cold. For example, once the Swatch Group announced the cessation of supply of the movement, will have a huge impact on other watch manufacturers. In fact, from 2001, the Swatch Group has gradually reduced or even stopped the supply of movement to foreign companies in two batches.
First of all, the movement of luxury watches was stopped. Lemania announced its cessation of external supply in February 2001, supplying only Breguet and Omega, which was officially implemented in September 2001. Both Daniel and TAG Heuer were quite affected. Most of Prederic Piguet was originally intended for Blancpain, but some of the highest-level blanks were also supplied to outside companies and were reorganized into three departments, one of which will continue to be dedicated to Blancpain, a small department Designed for Omega, the smallest department will complete the movement to supply other group outside companies. Moreover, external companies using the Prederic Piguet movement must be indicated in the ad. Since then, another luxury watch giant movement, Richemont's Jaeger LeCoultre also announced that it will reduce the external supply, luxury watch industry collaboration so completely disrupted.
Some independent manufacturers have long been similar to the Swatch Group's vertical integration of the industry, such as the acquisition of strap manufacturers have Rolex Gay Frres, watch maker Beyeler & Cie, gear manufacturer Boninchi. As a result, the Swatch Group's impact was only partial, but its escapement and hairspring still came from the Nivarox FAR. For companies that are not well-prepared, however, the company is still suffering a lot. Even many well-known luxury watch companies have suffered a lot. For example, Patek Philippe's products and strategies have been forced to change. After Lemania announced its cessation of supply, Patek Philippe acquired two spare parts manufacturing companies, Calame & Cie and Ergas Sarl, in May and June 2001 to fill the gap and strategically adjusted from quantity-oriented to profit-oriented production control in the market 70% of the demand, on the one hand to reduce the use of watches and other accessories on the other hand, man-made demand for tension, coupled with the secondary market, such as the direct bidding of old watches and other strategies, through the secondary market to attract buyers to appreciate , While raising the price of the new table is expected.
Subsequently, the Swatch Group has stopped supplying the movement to the regular watch. Hayek announced in 2002 that the ETA will gradually reduce its supply of movement to external companies but was strongly rebounded by other watch companies and interfered with by the Swiss Competition Commission and had to change the original deadline from 2006 Moved to 2008.
The speculation that Hayek was ambitious for all Swiss watch companies to surrender to Hayek's cessation of supply of movement to outside companies was also analyzed, but Hayek's decision also reflected the overall Swiss mechanical watch The imbalance between supply and demand. Due to the huge capital investment required by the mechanical movement and the high demand for technical detail, few Swiss companies insisted on manufacturing mechanical movement, except for the large manufacturers such as the ETA, which is part of the Swatch Group, under the impact of a cheap quartz movement. In the same period, the global demand for Swiss mechanical watches and clocks continued to increase. According to the statistics compiled by the Swiss Watch and Clock Industry Federation, the export of Swiss watches continued to grow after 2003, with an increase of 33.14% over 2006 (Figure 2). A plus or minus the Swatch Group's self-sufficiency of self-sufficiency is no longer as before, in order to ensure the supply of the group at the expense of external companies.
In addition, with the improvement of the precision of the clocks and watches, the increase of research and development investment needs to be stabilized at a large scale. Compared with the traditional workshops, the scale advantage of the Swatch Group facilitates its continuous M & A in the accessory market. For example, Nivarox FAR's spring-loaded clockwork is technically refined to make it cost-effective to offset its investment costs. In connection with the Swatch Group's watch brands and accessories companies, Nivarox FAR invests in more than 300 different springs Clockwork gained economies of scale.
After two rounds of limited supply for the movement in the watch market, some companies were forced to try their own designs and produce movements, while others turned to quartz movements. For example, Patek Philippe has now produced some of its products using quartz movement. According to Swiss law, if a target company wants to advertise that it is "Made in Switzerland", Swiss-made movement must be used, which means that some Swiss watch companies, including Patek Philippe, will have to relinquish the "Made in Switzerland" Swiss movement Lifeline's Swatch Group will monopolize "Made in Switzerland."
Distribution of China's distribution market
By partnering with Xinyu Hengdeli (03389.HK), the nation's largest watch retailer, the Swatch Group has deployed downstream China watches. On the one hand, the Swatch Group became a strategic shareholder when it was listed on Xinyu Hengdeli. According to the 2006 Annual Report, the Swatch Group held approximately 7.24% equity interest in Xinyu Hengdeli. Since then, on December 21, 2007, the Swatch Group has increased its shareholding in Xin Yu Hendry to 5.0 million shares at HK $ 3.87. The shareholding increased from 7.89% to 8.09% and became the second largest shareholder of the company. On the other hand, Swatch Group also established holding company Ruiyun Tat (Swatch Group holds 90%, Xinyu Hengdeli holds 10%), succeeded Xinyu Hengdeli become Omega and radar wholesalers, direct sharing agent Wholesale profits.
On April 19, 2007, the Swatch Group and the Jin Jiang Group formed 90% and 10% joint ventures to jointly develop the properties on the southern wing of the Peace Hotel. According to the plan, the joint venture will invest 30 million U.S. dollars to invite the world's artists to decorate the south wing podium and finish it by mid-2008. After the renovation, the joint venture will serve as the Swatch Group's flagship store in China and will thus leverage China's potential A huge watch market.
Two rounds of luxury watch market from free competition to oligopoly
Luxury brand table after two rounds of integration, the establishment of the current market competition. The first round of around 2000, LVMH respectively acquired TAG Heuer, Ebel, Zenith and other brands, and thus set up a watch division, the development of alcohol drinks, clothing leather goods, perfume cosmetics outside the fourth profit center (Table 1 ). Relevant data show that from 2004 to 2006, LVMH watches and jewelry segment revenue growth of 47.4%, higher than the same period of alcoholic beverages, clothing leather goods, perfume cosmetics 32.5%, 19.6%, 18.4% growth rate; and its nearly a year The operating profit of watches and jewelery division increased by 280%, much higher than the growth rates of alcoholic beverages, apparel leather goods and perfume cosmetics over the same period by 10.7%, 11.3% and 28.3% (Table 2).
In 2000, Richemont purchased 3 brands of Jaeger-LeGrand, Wanko and Lange with 3 billion Swiss francs (Table 3). Together with the previously acquired brands Vacheron Constantin, Earl, Cartier and Richemont, Woqi group regardless. Richemont's watch revenue was much larger than LVMH and grew rapidly, with revenue up 37.9% from 2004 to 2006 and segment profit up 88.96% (Table 4). 
After the first round of integration, the luxury watch brand market experienced a more complete reshuffle, in addition to Rolex, Patek Philippe and other independent brands, other luxury watch brands are almost Swatch Group, LVMH, calendar peak group control, Luxury watches into the oligarchy stage of competition.
From the end of 2001, the Swatch Group tightened the supply of watch accessories including the movement, the luxury watch market started its second round of consolidation. LVMH adjusted in two ways. One was to acquire Artelink, the main strap supplier of TAG Heuer in September 2001, to ensure the production of the flagship brand Tag Heuer was not affected. Second, in December 2003, Ebel, which acquired only four years, was sold to Mavado, focus on the development of TAG Heuer and other brands. In fact, LVMH watch business strength is limited, and the Swatch Group and other hard-core opponents hard-won chance of adjustment strategy is actually shrinking the clock and watch the front line, focus on the development of the Sports Sub-market TAG Heuer brand.
The calendar watch brand is the second largest group behind the jewelery revenue leader, so with LVMH, Richemont took a tit-for-tat acquisition expansion strategy to curb the expansion of the Swatch Group. On the one hand, it acquired HGT Petitjean, accessory packaging company BestinClass and watch dial manufacturer Donze-Baume successively to ensure the supply of components within the Group and improve the vertical industrial structure within the Group. On the other hand, Minerva and Roger Dubuis Two movement companies, of which Roger Dubuis is a movement supplier for almost all of the watch brands in Richemont, so it takes control of the heart of the watch, the movement, firmly in its own hands.
After the second round of integration, the luxury watch market seats final ranking, the various resources of the luxury watch to Swatch Group, Richemont, Rolex and other watch giants to become the first group of luxury watch market; LVMH, Patek Philippe Such as the Second Army, according to different characteristics, occupy different market segments; before standing in front of the luxury watch hovering other watch companies, so far the brand, the two pieces of the mountain block in the luxury watch market.