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MCI (P) 064/11/2022. Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2023 SPH Media Limited. All rights reserved.

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Hublot’s CEO Ricardo Guadalupe on the challenges of selling watches in a post-pandemic world

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Fashion & Watches

Hublot’s CEO Ricardo Guadalupe on the challenges of selling watches in a post-pandemic world

The CEO of the Swiss luxury watchmaker shares his candid thoughts on the brand’s latest releases and partnerships, and how a watch brand can add value in an evolving world.

by Lynette Koh  /   January 31, 2023
Hublot CEO Ricardo Guadalupe 1

Hublot CEO, Ricardo Guadalupe. (Photo: Hublot)

Sustainability, smaller watches, understated designs — these utterances are not what we expect to hear from the CEO of Hublot, the Swiss luxury watch brand typically associated with large chronographs sported by the most alpha of males. “We always have to create something new,” said Ricardo Guadalupe with a smile, during an interview with The Peak at the official opening of the Hublot boutique at Ion Orchard last October.

Of course, this does not mean the brand is moving away from making its stunning, love-it-or-hate-it statement pieces, such as highly skeletonised tourbillon watches cased in see-through sapphire crystal in vibrant shades like orange and purple.

Rather, when Guadalupe speaks about making watches in smaller sizes, or supporting socially responsible causes while declaring that Formula One — once an integral part of Hublot’s marketing efforts — is “not a sustainable sport”, it reflects the natural evolution of a brand that prides itself on being “a leader in innovation”. It is an acknowledgement that the world is changing, especially after the past three years.

Here, the CEO shares candid thoughts on the brand’s latest releases and partnerships, and the challenges of selling watches in a post-pandemic world.

Related: LVMH Watch Week 2023: Highlights from Hublot

https://www.thepeakmagazine.com.sg/gallery/fashion-watches/hublot-ceo-post-ricardo-guadalupe-pandemic-challenges-selling-watches/
Hublot's CEO Ricardo Guadalupe on the challenges of selling watches in a post-pandemic world
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In 2022, Hublot introduced a new shape, the Square Bang Unico (pictured above). How has the response been?

We always look to offer watches that are different. If I were to produce a traditional watch, why would you buy that from Hublot? You can buy that from another brand that has been doing that for years and years. So I have to surprise my customer, and I can do that through design, materials such as sapphire, or movements.

In terms of design, I said, why not experiment with shaped watches? We did the tonneau shape with the Spirit of Big Bang. But I always wanted to create a square watch. The inspiration for Hublot is the porthole of a boat— porthole is hublot in French. It can be round, oval, or square, so I said let’s try the square, and the response has been fantastic.

What were the unique challenges of making a square watch?

The challenge is that we use our Unico movements, which are round, so when we use it in a square watch, getting the right size is the challenge. The [Square Bang Unico] is a little big, but that’s partly because it’s a chronograph. I’m planning new models that are square but have three hands, and they’re going to be smaller and slimmer.

I’m also planning new movements for our square watches. However, as soon as we talk about a new movement, it’s a minimum of eight years of development. We are working on different calibres, but it takes time, especially with the supply chain being an issue in our industry right now. That is why we are building a new facility, a third building [at the Hublot manufacture in Nyon, Switzerland]. By 2025, we want to integrate more verticalisation and produce more movements and materials.

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Hublot is active in the digital and NFT space with the Big Bang Unico Ledger watch, as well as NFTs created with Japanese pop artist Takashi Murakami. What plans do you have here?

Hublot wants to be the leader in innovation at every level; that’s why we are involved in blockchain, NFTs, and the metaverse. For the World Cup, we have created a virtual football station. People can enter the stadium with an avatar and have experiences in the stadium.

With Murakami, we did the watches first. and subsequently created NFTs with him that we gave to the owners of those watches. We have new projects with Murakami, who is very involved in NFTs himself. This time, we will offer both a watch and an NFT at the same time.

What are the key partnerships for Hublot right now, and are you seeking to establish new ones, particularly in terms of motorsports?

My position is that Formula One, as it is right now, is not a sustainable sport. We are not in it any more. I think Formula One will have to evolve and use electric engines in 10 years. We have shifted our partnerships to focus on sustainability. That’s why we now sponsor a boat and a sailing team. We also sponsor efforts to protect the rhinoceros, and the (upcoming) Polar Pod expedition to Antarctica.

Related: Hublot’s new ‘Big Bang’ set with Paraíba tourmalines

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What are the challenges of selling watches in a post-pandemic world?

We always have to create something new. Innovation is key. I think people are now looking for softer designs. There seems to be a shift towards watches that have less bling and are more understated. There are other ways to bring value to a watch, such as through interesting materials.

Understated can also mean something less bulky and more ergonomic on the wrist. We’re creating smaller sizes, for sure. We used to make 44mm watches, now we are also making 42mm, 40mm. As for pieces like the [Big Bang Tourbillon] Orange Sapphire, we always have such talking pieces, but we produce just 50 of those. It’s not our main business. Our main business is to sell Classic Fusions (Hublot’s simpler and more classically styled timepieces) every day.

Read Next

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Hublot's new classic fusion pieces with Berluti leather is brilliant

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  • TAGS:
  • Dec 2022 Issue
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  • luxury watches
  • Ricardo Guadalupe
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MCI (P) 064/11/2022. Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2023 SPH Media Limited. All rights reserved.