THE FREEMAN JOURNAL

influence. the influential

EMERGING TRENDS IN THE LUXURY WATCH INDUSTRY WITH GUIDO TERRENI OF PARMIGIANI FLUERIER 

​​In this exclusive interview, we delve into the trends currently shaping the luxury watch industry with a focus on Parmigiani Fleurier's recent partnership with J Farren-Price, marking a significant milestone for the brand in Australia. We explore the motivations behind this strategic collaboration, its implications for Parmigiani Fleurier's global presence, and how the brand is positioning itself to lead within key industry trends, particularly within the Australian market. 

- The partnership between Parmigiani Fleurier and J Farren-Price marks a significant step for your brand in Australia. Can you share what motivated the partnership with J Farren-Price for Parmigiani Fluerier's entry into Australia and what it signifies for the brand's global presence ? 

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Indeed! We have received many enquiries from Australia and we are happy to add to our the Parmigiani Fleurier family the best partner in Sydney. As a prestigious high-end brand, we choose selectively the partners we work with. The most important criteria is the belief of the partner in the vision and in the values our brand is expressing in the watchmaking landscape. Then we look at the professionalism, core competences and knowledge of the staff, which is key in presenting our brand to the clients, who are key in making our marriage long lasting and successful.

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- The global luxury watch market is ever-evolving. Based on your extensive experience, what are the key trends shaping the industry today, and how is Parmigiani Fleurier positioning itself to lead within the trends, especially in the Australian audience ? 

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Watchmaking is a very peculiar industry. It is cyclical in the business evolution, with ups and downs that are increasing in frequency. However, it is the category with the longest product lifecycle, theoretically infinite, if the creativity is storing enough and the brand is disciplined in perpetuating its appeal. Therefore, trends to identify are the long-term ones, those that are there to stay. The sport-elegant segment, characterized by the integrated metal bracelet and a “bar to boardroom” usage, will remain coveted and of the upmost importance. That is why we addressed it as a priority, adding the Parmigiani discrete style and high finishings, to appeal to our educated and non-ostentatious clients. There is another trend, in my opinion, that is gaining importance, and it is the so-called dress-watch. It is interesting to notice how a dress-watch evolves in time, following the way men evolve their attire. It is not a fashion but more a societal evolution across decades and I am very interested in the boom the men’s sartorial business is experiencing today, thanks to the fact that more and more people are rediscovering the pleasure of dressing well, and usually unbranded.

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- Transitioning from Bulgari to Parmigiani Fleurier, you've played a pivotal role in repositioning luxury watch brands throughout your career. What key insights from your journey have been instrumental in shaping Parmigiani Fleurier's strategy under your leadership? 

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Probably the most important learning I brought with me in the journey I’m honored to live with Parmigiani Fleurier, is that the more you want to generate desire in people, the more you have to be introspective and search for the deep values the brand expresses, its core competences, define clearly its style and be selective in choosing the client you want to serve. In doing this, I add my personal sensitivity, because luckily, this is a qualitative exercise, not a quantitative one. There are no rules or manual to succeed and this is the beauty of luxury.

What we did in Parmigiani since my arrival in January 2021 is exactly this, clarify the core values of our Maison and interpret them carefully choosing the client to appeal to. The Tonda PF collection is the result.  It embodies the refinement and high watchmaking content that the brand has always stood for, in a more contemporary way, to please a non-ostentatious watch connoisseur, who wants to enjoy a prestigious yet discrete timepiece, for its own pleasure.

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- Could you give us a glimpse into any upcoming launches that you are particularly excited about, and what sets them apart in the luxury watch market? 

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I always say that nobody needs another watch. There are plenty in the industry. Therefore, if you do decide to launch one, it better have something to say. We are very proud to have surprised many times our audience, with our apparently simple style, pure in the aesthetic, yet very rich in its finishings and difficult to craft, as well as with our world premieres, like the Tonda GMT-Rattrapante and the Minute-Rattrapante, that reinterpreted or even reinvented functions in a way never been done before.
This year is a very important one, as we decided to launch a second collection, the Toric, with the ambition to evolve the codes of masculine elegance when it gets to watchmaking.

- What vision do you hold for the future of Parmigiani Fleurier, and what are your main goals for the brand in the coming years? 

The interest around the brand is a testimony of how well we have worked in relaunching it. We have the ambition to become a reference for a private and refined luxury for non-ostentatious connoisseurs. It is a very exigent crowd, that demands Parmigiani to continue pushing the boundaries of the industry, both aesthetically and technically. That’s what we like to do and we have many ideas to keep up with and raise the bar of creativity year after year. We have just started!

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