Swisswatches blog recently visited the new OMEGA headquarter in Biel and took the occasion to meet the CEO and president Raynald Aeschlimann for lunch to find out little more about the brands direction. We also talked about the changes and challenges since his new position as CEO 22 month ago and what James Bond and Edwin ‘Buzz’ Aldrin have in common. A detailed story about the new headquarter will follow soon.
1. What means a mechanical watch to you? What makes it perfect for you?
First of all, a watch for me should always be mechanical. Of course it remains a question of taste and what the clients want, but the experience you will have with a mechanical watch is unique and for me, the most emotional moment. The OMEGA brand was established 170 years ago and after a few years the founder realized, that the perfection lies in a mechanical watch. He recognized the many advantages of a mechanical movement – you have spare parts, detailed schemes and your own fabric and hence the 19-line-calibre was born in 1894. For me, the mechanical movement is the heart of our work. It is basically the only machine in our immediate environment that runs 365 days a year, and this almost perfectly. And here we are at the OMEGA brand, because OMEGA in Greek means ‘perfection’. Since 170 years we always try to be a little better then perfect. That’s what makes us so unique.
2. Which watch are you wearing today and which one do you wear the most?
At the moment I am wearing the Seamaster Diver 300M in steel and Sedna-gold with a rubber strap. I have the great privilege to be able to switch watches very often. I only wear watches that really mean something to me. We have completely re-designed the 300 meter line, which was a huge challenge because the watch is so much respected by OMEGA and our fans. It’s like you have to completely re-design a Porsche 911. This watch is an inspiration for so many people and we didn’t want to take this inspiration away from them. I think we have done it quite well. It is the best that you can industrially produce in today’s time, and at the same time we have preserved its roots. I am wearing the steel-gold type because for me it combines the perfect balance in colour. What our design department has created is so good, that I have worn this watch over the entire Baselworld fair, which I rarely do. But most of them all I wear the Seamaster Planet Ocean 600M Co-Axial Chronograph in roségold.
3. You were vice-director and international sales & retail director from 2001 to June 2016. Compared to your new position as CEO, what are the biggest challenges and what facilitates this new position?
There are actually not many changes because I have always worked passionately for the OMEGA brand. Surely the team that supports me is a great relief. My colleagues have instantly accepted my new position as CEO and president and together we have achieved so much. The biggest challenge is always the question what we at OMEGA can achieve, not just me but the whole team, the question of how many capacities do we have for novelties. One change as CEO and president surely is the responsibility to identify problems, solve them and at the same time develop novelties and exciting projects. Our clients have great expectations for OMEGA and don’t wait for something new just because others did it – they expect something own, unique.
4. You have been OMEGA president for about 22 month now. What success of your team are you especially proud of?
I am proud about so many achievements of our work. It doesn’t always have to be on a sales aspect. I am proud about the steps that we have done together. We have employed more then 100 new people and opened a new headquarter. These are internal achievements that we are proud of. For our clients we have introduces new products that on the one hand respect our tradition, and on the other hand we have launched a new line ‘Trésor’ for ladies, on which we already received great feedback. On sales aspect I think SpeedyTuesday was without doubt our most important project. Everyone has worked together to make this a great success and the whole team can be proud about this. The enthusiasm and passion to work for OMEGA is something that makes me personally very proud!
5. Recently OMEGA has opened its new manufacture (where we are today) in Biel – what will change?
I am so happy that we finally bring together all working units. It’s like a clinic where all watches are being born and being looked after step by step. The Swatch Group made it possible that we are united under one roof. This aspect paired with the motivation of our employees leads to a much more productivity.
6. How will the company and the products change?
The whole world changes at the moment and we adapt to it. The millennials, how they call them, are much more brand-orientated. Luxury isn’t just expensive but they want to feel the brand for the value they get from their product. Hence they want to emotionally live and experience the brand and not only the product. Therefore it is crucial that we transport our values through the right channels. I believe that OMEGA has accepted this change very well. We are no arrogant brand, we have never said that we know it all better. We have always listened to our customers demands and the proof for this are our more then 150 boutiques worldwide no matter how other brands do it.
7. Since 1995 James Bond wears the OMEGA Seamaster in every movie. And 49 years ago, on July 21th 1969 when Edwin “Buzz” Aldrin first took a step onto the moon he was wearing the official NASA-spacewatch on his wrist: the OMEGA Speedmaster Professional. If you could ask all people how they know the brand OMEGA what do you think would be the breakdown of these two stories?
I think the OMEGA brand is well known all over the world. If you would ask the people where they know OMEGA from I believe they would say, from many things – you cannot divide it into Bond vs. Moonlanding. The Speedmaster story is surely the most incredible OMEGA story of all times and also the most famous one. But rather for people who are interested in watches in general. The Seamaster and James Bond story is also known by people who are not so familiar with watches. Different people know us by different stories. But that is good. They know OMEGA from one or the other story.
8. A mechanical watch can be called an ‘offline’ product. With the birth of OMEGA’s Speedmaster “SpeedyTuesday” this might have changed. How does a mechanical watch survive in a digital world for OMEGA?
Not very long, because it was sold within four hours. No, but talking serious, the SpeedyTusday has created a community that would have never been so big offline. That’s so wonderful about online, this connected world that brings together people with similar interests. That is an important advantage from the online world and also Instagram. It was a very emotional moment thinking about the fact that more then 12.000 people worldwide wanted to have this watch. I have even talked to some of them personally and we shared some thoughts.
9. Let’s talk about OMEGA’s limited editions: when looking at the watch-communities opinions are divided. Some watch fans think that too many watches are limited and some of them are not happy about certain limitations in particular. What are your arguments?
You are right, some products have been too much limited or limited too often. At Baselworld we have again introduced some limited editions, for example the Speedmaster CK2998, but we have not limited the Apollo 8 and the platinum version. So basically only three watches, the Speedmaster CK2998 and the two Seamaster 1948 types. And these watches are so special that I find it necessary to limit them, just to point out their particularity. Some other watch types need to be limited due to their complex manufacturing, even if there is a strong demand. We try to respect our customers needs and try to find a good balance in between.
10. Which communication channels are especially important to OMEGA nowadays and how will they change in the future?
Social media is very important especially if you want to get connected with the new generation. However we still need to be careful that we create content that respects our values, that is relevant and excites. The close relation to our influencers, testimonials and watch blogger enables us to take a look from an outstanding person to understand what we do and where we will go in the future. Furthermore we own a huge network of Boutiques around the world that enables us to act face-to-face with our customers. This immediate feedback is incredible valuable to us because OMEGA fans are passionate buyers and so we learn a lot about what makes them happy and what doesn’t. How our communication strategy will develop over the years depends on how the digital channels will change. I believe the biggest change will be the speed of communication and also how customers decide to buy a watch.
11. Having opened an e-commerce platform in the United States OMEGA offers to buy directly from the brand. How do you find a good balance not to provoke local concessionaires and to expand your retail channels? Will OMEGA turn into a “direct-to-consumer” brand?
We certainly don’t want to provoke our concessionaires with e-commerce. There are so many OMEGA fans in such a big country that really want to buy an OMEGA watch but live more then 700 kilometres away from the next point of sale. There are three states in the USA we are not existent. Big shopping malls disappear. This lack needs to be filled temporarily. Online business is something that we are engaged with in our everyday live, so why should someone not be able to buy his or her desired watch online? We will also expand this concept to other countries where it is necessary.
12. In what direction does the watch industry move?
It is one of these rare luxury-industry-sector where there is still so much potential. It is not comparable with a luxury bag brand for example, where it is always about design and material that renews itself. Looking at the watch industry, it’s the technical aspect that develops and reinvents itself continuously. That is incredible exciting!