Fashion

At the heart of the silent boom of Hermès watches

“I believe we have developed our know-how while cultivating our uniqueness and our different way of understanding time. This has allowed us to be considered like other great watch brands,” says Laurent Dordet, CEO of Hermès Horloger, the watchmaking division of heritage houses. But can the momentum continue in such a difficult category?

The long term game

Hermès’ rise to the status of a major watchmaker didn’t happen overnight. According to Dordet, it all began in the early 2000s, when the company began implementing its strategy to create a vertically integrated watch manufacturer. In 2006, Hermès acquired a 25% stake in Swiss high-end movement maker Vaucher Manufacture Fleurier and opened a leather goods workshop at the La Montre Hermès site in Brgg, established in 1978.

In 2012 and 2013, Hermès Horloger absorbed two historic partners: Natber, known for its expertise in dials, and Joseph Erard, a case specialist. All of these acquisitions led to the creation in 2017 of the Ateliers d'Hermès Horloger in Noirmont, Switzerland. Today, Hermès Horloger is a watch manufacturer in its own right, mastering all skills in-house.

The integration of certain manufacturing processes over time has given the brand a legitimate position in fine watchmaking, explains Müller, highlighting how Hermès gradually introduced more mechanical watches alongside the quartz fashion watches for which it was initially known.

This is evidenced by the awards won by Hermès at the Grand Prix de l'Horlogerie de Genève (GPHG), the veritable Oscars of watchmaking, closely scrutinized by collectors. In 2011, with its Arceau Le Temps Suspendu model, Hermès began to build a reputation within the industry. This recognition was then successively strengthened in 2015, 2019 and 2022, with several GPHG awards won in different categories, mainly for men's timepieces with complications, such as the Slim d'Hermès Quantième Perpétuel (2015), the Arceau Lheure De La Lune (2019) and the Arceau Le Temps Voyageur (2022). “It was necessary to strengthen our men's segment to fully express our watchmaking expertise,” explains Dordet.

According to Müller, these 15 years of repositioning the brand in a much more exclusive market segment have not only resulted in designing award-winning watches, but also in significantly reducing the volume of watches produced and increasing the average selling price. The product collection has been pared down with fewer product families and all remaining lines have strong ties to the brand’s DNA, he says.

Sources

1/ https://Google.com/

2/ https://www.voguebusiness.com/story/companies/inside-hermess-quiet-watch-boom

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