Breguet dropped an fascinating timepiece this month, and as an alternative of merely “introducing” it, we take a look at it from a practical client perspective.
The Classique Souscription 2025 comes from the Swatch Group AG’s illustrious high-end watchmaker, Montres Breguet, merely identified by most as Breguet.
Breguet operates from the legendary Lemania manufacture that Swatch Group AG took possession of in 1999, when it acquired Breguet. (Breguet acquired possession of Nouvelle Lemania in 1992.) A completely state-of-the-art historic Swiss manufacturing facility, based mostly within the attractive valley of the Swiss-French Jura mountains, the Vallée de Joux (additionally dwelling to Audemars Piguet, Blancpain, Jaeger-LeCoultre).
Contained in the manufacturing facility, classic rose engine lathes — permit expert artisans to manually create Breguet’s signature guilloché-work dials — juxtapose a few of the most refined multi-process CNC machines you’ll discover on the high-end of the watchmaking spectrum. And sure, I’ve been there and seen this in particular person.
In working with Breguet’s US communications group through the years, one of many now former group members, who appreciated to talk in an unfiltered method, as soon as requested me, “Why does everybody kowtow to Patek Philippe?”
This remark shouldn’t be off the mark, and a few individuals construct their careers round being (shills), nonetheless, few of them work at watch publications that present true editorial worth to shoppers.
To be clear, I respect the watchmaking from each Breguet and Patek Philippe; nonetheless, on the similar time, I believe Breguet particularly lacks the advertising and marketing savvy of different corporations with related model provenance and monetary backing. Consultants usually cite that a few of the most profitable Swiss watch manufacturers are independently-owned, not group-owned, and there’s actually credence to that. Nevertheless, there are different components at play as effectively.
Patek Philippe considerably beats Breguet in income and in models offered per yr. Patek makes an estimated 50,000 – 60,000 watches a yr, whereas Breguet might be nearer to fifteen,000 – 20,000 (and that’s manufacturing, not precise gross sales at wholesale or retail). Patek is estimated to make over $1 billion a yr in income, and Breguet was doing an estimated $300 million at its peak, although that’s dropped. In line with the annual Morgan Stanley report, Breguet was estimated to be a high 20 Swiss watchmaker, based mostly on income, up till 2020, however Breguet has not regained a high 20 market place since.
Judging from the scale of the L’Abbaye-based manufacturing facility, Breguet has the manufacturing capability to make much more timepieces than it at the moment produces. And that seemingly means Breguet’s economies of scale, or lack thereof, are an issue, which in flip is without doubt one of the components that contribute to unsustainable retail costs. So, regardless of being a part of one of many largest watch teams on the planet, there are presumably inefficiencies within the manufacturing course of which might be prompted not by a scarcity of watchmaking prowess however as an alternative are the direct results of low demand. This normally comes again to advertising and marketing.
It’s value noting that after I say advertising and marketing, I don’t solely imply promoting, I imply the complete advertising and marketing course of: Product, Placement, Pricing, Promotion. For reference, I used to be employed instantly out of faculty as a advertising and marketing govt at a Fortune 100 retailer, and have adopted the broader retail, area of interest watch, and different consumer-marketing industries recurrently ever since. I believe Breguet is an effective model. Nevertheless, I believe they might massively enhance in all 4 key areas of selling.
Most individuals shopping for watches of this ilk care extra about resale costs than whether or not Abraham Louis’ descendant Emmanuel Breguet is the Head of Patrimony. When the retail value of a Breguet is $50K, and the resale is lower than half that on the secondary market and your direct competitor, Patek Philippe, sells an analogous timepiece for $50K at retail, they usually commerce for over retail on the secondary market. Your product turns into much less marketable.
Making a restrained 40 mm x 10.8 mm case, with a non-fluted bezel, enticing vintage-style flat push-in crown, and conforming lugs, is a good begin to Breguet’s 250th Anniversary. The Breguet Classique Souscription 2025 seems to be good.
Nevertheless, don’t kill the momentum by fooling your self into considering you’re Patek Philippe and have to make the whole lot in valuable metallic. Provide it not less than optionally in stainless-steel.
No person requested for an unique new 18K blonde-hued gold alloy (consisting of silver, copper, and palladium). But, Breguet spent R&D making it anyway, and is presumably passing the price on to shoppers.
Whereas we’re as regards to gold, the brand new 3Hz, 21 jewel, (35.2 mm x 6 mm) manually wound 144-component in-house caliber VS00 with a Blue Breguet Nivachron™ steadiness spring and single-barrel design provides a formidable 4-day (96-hour) energy reserve. The motion is embellished with a wholly new sort of guilloché sample unveiled this yr, known as Quai de l’Horloge. This new design is impressed by the singular curves of the Île de la Cité and the slender refinement of the Île Saint-Louis to create a harmonious rhythm that may be infinitely modulated. The plate and bridges are finely shot-blasted, a brand new ornament instantly impressed by the actions of A.-L. Breguet. Blued metal screws and rubies additional improve the motion. On the middle sits the imposing ratchet wheel, which options an engraved inscription: the founder’s phrases, explaining the design of the Souscription motion and brought from his promoting brochure, are faithfully reproduced in his attribute cursive script.
The mainplate, bridges, and elements look nice, however the gilded brass is in the identical shade because the Breguet gold case, not in precise Breguet gold. So that you’re telling me Breguet created a brand new gold alloy, however then used fake gold on the motion? Certainly a cost-cutting measure, however you didn’t cross any of that low cost to your shoppers, as evidenced by an eye-watering retail value of $48,700.
The Breguet Classique Souscription 2025 (Ref. 2025BH/28/9W6) has a gorgeous shiny Grand Feu enamel dial, with a particular inscription. With this “Souscription” timepiece, “the distinctive serial quantity and Breguet’s secret diamond level signature are engraved straight onto the enamel utilizing a interval pantograph.” Cool.
The inspiration that pays tribute to the 1796 souscription pocket watch is one other seemingly sensible choice. Though as an alternative of a souscription timepiece, the place the patron leaves a deposit of 1 / 4 of the worth, to allow the Quai de l’Horloge workshop to accumulate the provides wanted to fabricate the watches, thus marking the beginning of sequence manufacturing — on this case, the watch is proscribed version, the place you pay on supply.
One of many coolest options is the one-handed design, the place you learn the time from one hand. Meistersinger and Defakto are two watch manufacturers that concentrate on this sort of watch; nonetheless, not a variety of watches use the simplistic, easy-to-read, one-handed configuration, making this watch interesting in that side. Pictured under is the one open-tipped metal Breguet hour/minute hand being warmth blued.
Ultimate Ideas
The actual advertising and marketing query Breguet must ask shouldn’t be “Why does everybody kowtow to Patek Philippe? — It’s “How can we higher goal new Breguet shoppers?”
Extracting additional revenue margin by means of gimmicks like proprietary gold is actually one option to try to extend gross sales income, however is the aim to fleece your clients or to supply a great product in return for a good value?
In the end, for these rich sufficient to afford one thing on this value vary — a value bracket the place cash is probably not an impediment but this sort of client is arguably essentially the most vital with how they spend it — is there sufficient worth being provided to justify near $50K for this Breguet in comparison with an alternate from Patek Philippe, FP Journe, or Audemars Piguet?
Study extra at Breguet.
Pictures by Breguet.
