This watch veteran is taking an ultra-premium watch brand to new heights

Greubel Forsey CEO Antonio Calce on evolving the company by opening new doors and closing old ones.

By Lynette Koh / 26 Sep 2022

Share this article

Having worked at the highest levels of the watch industry for nearly three decades, Antonio Calce is no stranger to top horology brands. Even so, heading Greubel Forsey has been an exceptional experience for this veteran, who became its CEO in December 2020. The ultra-premium independent brand is famous for its distinctive and innovative designs, as well as peerless finishes.

“It’s like having a piece of gold in my hands,” says Calce of helming Greubel Forsey. The brand's founders are watchmakers Robert Greubel and Stephen Forsey since 2004. He spoke to The Peak during the recent launch of the brand’s latest creation, the Tourbillon 24 Secondes Architecture.

The titanium watch possesses classic brand signatures such as a fast-rotating, inclined tourbillon. Also seen are newer features like a convex case and a lateral sapphire crystal ring. These features allow the movement to be seen from the side.

Calce has overseen product development at watchmaking giants Piaget and Panerai. He also headed Corum and Sowind Group, whose brands include Girard-Perregaux, as CEO. Despite these experiences, the Swiss national remembers being impressed by the extensive in-house competencies at Greubel Forsey. Also an executive board member and shareholder of the company, Calce says, “I had not seen this range of skills before; we employ about 125 people in our factory, including mathematicians and physicists. We have seven inventions as of now, and next year we will have another — that’s eight inventions since 2004. The skills and capacity of the brand are just amazing.”

His tenure has seen Calce implement a multifaceted strategy that includes strengthening the brand's organisational structure, creating a new product segment, and streamlining distribution. He shares more about his plans here.

Greubel Forsey

1/2

What was at the top of your agenda when you took the job?
It was not about making changes; it was about evolving. Everybody knows the quality and hand-finishing of Greubel Forsey — it’s the highest in the watch industry. In the past, the brand was mostly dedicated to a few collectors. However, if you analyse your market, you probably have fewer than 100 real collectors. It was important to have a new product offering in a new price segment to reach a broader clientele.
Tell us about this new product segment, which is priced slightly lower than previous core offerings but continues to be ultra-premium.
We have incredible codes at Greubel Forsey, such as high-end finishing, and very architectural and 3D movements. It was important to put these codes into the new products. The aim was to create a real product family priced between 200,000 (S$290,271) and 350,000 Swiss francs. We have done exactly that with the Balancier Convexe S2 and the Double Balancier Convexe, which have a strong identity and distinctive features such as a convex case.
What is your strategy for growing Greubel Forsey’s client base?
With the new product offerings, one of our objectives was to reach a younger clientele by creating watches with more modernity. This is important for the future of the brand. However, many of our long-time collectors have also bought these new creations, and they are very happy with them.

Eventually, 50 to 60 per cent of our business will be in the new price segment, while 25 per cent will be in the segment from 350,000 to 500,000 Swiss francs. About 15 per cent of the business will be dominated by pieces such as the Hand Made 1 or the Grande Sonnerie that are 500,000 Swiss francs and above.

Related: Greubel Forsey’s new tourbillon timepiece takes the sapphire watch case trend to the next level

Greubel Forsey Tourbillon 24 Secondes Architecture (Photo: Greubel Forsey)

2/2

Does growing your audience also mean producing more watches?
When I started, we were producing around 100 timepieces a year. Now we are at 200. The goal is to reach 500 in the next few years. We just bought the land around the factory, and we plan to double the capacity of the atelier, while maintaining our quality, rarity and exclusivity.
In terms of distribution, what are your plans?
We have gone from 40 to 25 points of sale in 15 months, and plan to have [only] between 12 and 15 points of sale by the end of 2023. We need exclusivity and rarity.
What plans are in the pipeline with Sincere Fine Watches, Greubel Forsey's long-time exclusive distributor in Singapore?
Asia is a very important market for us, and we have a great relationship with Sincere Fine Watches. We plan to open a boutique with them in the near future. Monobrand boutiques are an important part of our strategy now in terms of gaining good visibility. We already have one in Hong Kong, and we have plans to open boutiques in Dubai, Mexico and China as well. These stores will always be opened in partnership with local retailers; we do not want to manage retail at the moment.
Have you ever had disagreements with the two company founders?
We speak the same language. I was born in Neuchâtel, a Swiss canton and watchmaking hub. I am an engineer by training but started out as a mechanician. Stephen is still involved in the brand as a technical adviser, and we have a great relationship. Robert and I are like brothers; we are very close. For years, Robert had been thinking about what could be done for the brand. He’s happy now because, finally, we have a solution. ”

Related: Greubel Forsey Watches Designed with Microscopes

Greubel Forsey, Stephen Forsey