Luxury watchmakers may not consider 2020 a ‘vintage’ year, but what is the experience at Richard Mille, have your customers been more cautious in their spending?
It’s not a matter of 2020 being a “vintage” year or not, it’s more about focusing and appreciating the positives of the year. And 2020 was definitely a year with several strong milestones for the brand in the region.
Not only, was it the dawn of a new beginning for Richard Mille in Saudi Arabia, with the opening of our flagship boutique in Kingdom Centre.
But also, we witnessed Rafael Nadal earn his 20th Grand Slam in the Roland Garros, French Open along to claiming his 1,000th tour-level match win at the Paris Masters back in November 2020.
Our clients, have always appreciated the level of close relationship we have maintained with them, whether celebrating Rafael’s win or operating on a private and safe level with each one.
Gold and carbon unite in the new RM 07-01
How did the brand adapt to the highly particular market conditions of the past year?
At Richard Mille we have always stood strong and believe that we are stronger together. Hence, putting the wellbeing and health of our clients and boutique staff always came first.
Our approach was to stay focused on all the launches planned for the year which included, the RM 27-04 Tourbillon Rafael Nadal, the RM 72-01 Automatic Winding Lifestyle Flyback Chronograph and two novelties under the RM 037 and RM 07-01 collections which showcased a new material for the brand, Gold Carbon TPT, our proprietary new material.
What have been the most significant changes, and are these changes that you have incorporated into your future strategy e.g more flexibility on working from home?
As a retail brand, the biggest challenge for us was of course maintaining a business whilst most of our boutiques were closed. It was a challenge that we chose to overcome together and use to our benefit which meant stronger communications with our clients, while respecting Covid-19 regulations.
As a leader, what was your own experience of leading through this crisis?
I wanted to be personally available, to hear and support my team members. This meant remaining empathetic to every person’s different situation while empowering them to sail through this dark storm.
Today we stand even stronger and closer than we did before and we are very proud to have been able to achieve more than our original plans.
What does the consumer of 2020 look for in his or her Richard Mille watch?
Our client’s purchase habits were not affected by this pandemic; however, we saw a rise in the demand of more exclusive and limited pieces, especially tourbillon pieces, that many of our clients started collecting.
What is the brand penetration like in KSA and what is your expectation for its expansion and growth?
In June 2020, we opened our Riyadh boutique, making it the brand’s first flagship boutique in the region directly operated by us. Since then we have managed to maintain and build a truly exceptional database of loyal watch connoisseurs. KSA remains our biggest focus for the expansion within the Middle East region, with many exciting projects to be announced soon.
Richard Mille’s boutique in Riyadh is open for business
Will the brand be partnering with ambassadors in KSA, or producing editions relating to the region?
The kingdom is taking us all on a journey of expansion and growth, which Richard Mille will always be supporting and enriching.
One of our last partnerships was with the Saudi Polo Federation, back in January 2020. Were Richard Mille was the Official Time Keeper of Al Ula Desert Polo Championship, an event that we proudly sponsored to enrich the polo sport within the kingdom.
We are definitely looking forward for Al Ula Desert Polo Championship season 2 and I’m sure we would be supporting many more future talents and opportunities in the Kingdom.
The new boutique is open for business, which of your timepieces are popular in Riyadh, have you observed any regional preferences?
When it came to the Ladies collection, we noticed a higher demand on Black Ceramic RM 07-01 pieces and Red Gold being the first choice.
As for the Men’s collection, we noticed, as we developed a stronger presence in the kingdom, their preference became driven, by their knowledge of the brand, making them more focused on seeking timepieces based on their complications and of course the exclusivity.
Follow us on
