Another big event for Hublot this year is naturally the official start of a 360-degree all-round partnership with Ferrari, so I took advantage of Hublot to promote the limited edition of the Ferrari China version in China. ‘I was fortunate to interview the new CEO Mr. Ricardo Guadalupe and listen to him talk about his relationship with the brand and with China.
WT: In just a few years when Hublot entered China, many Chinese have learned about the brand and become its fans. How did Hublot do this?
RG: As you said, we have achieved great success in a short period of time. Specifically, we rebuilt the brand, allowing our brand to pass through a period equivalent to the Renaissance, and also to have a revival.
Of course, it is impossible to have a good brand without a good product. Our products convey a very strong message and image. As long as it is a Hublot watch, no matter which series has its very distinctive personality and characteristics, it has a high degree of recognition. In addition to products, the market is also an important channel for brand rebirth. We have also conducted a lot of innovative explorations in the market, and these measures have achieved good results. The most important thing is the combination with football. Many people say that football is a popular project and cannot be associated with high-end luxury goods, but we successfully made Hublot the first luxury watch brand to cooperate with football. This shows that as long as there is innovation, we can promote it in many areas.
WT: Describe to us, what position does the Chinese market currently occupy in Hublot’s global market map?
RG: Generally speaking, China is still a relatively young market. From the perspective of performance and sales, the potential that the Chinese market should have is only a very small amount. We have huge potential in Hong Kong and China. Great potential, especially for the Chinese mainland market, where maturity needs to be improved. This is our advantage, and it is also our challenge. At present, we have to do a lot of work to help mainland consumers understand the brand concept and increase their awareness of the brand and products, including the previously mentioned integrated art and other concepts. This is also the focus of our current work. While building a brand, we must also expand market distribution channels. We need to consider how we can more effectively expand and expand our specialty stores and agency channels. All this takes time, so we are still here in Japan.
WT: For the Chinese market, the Chinese have always had a bottleneck for sports watch consumption. Perhaps most Chinese still prefer the more traditional watch. Have you ever thought about how to break through this bottleneck?
RG: That’s how we think about your question. Maybe other brands will make corresponding measures for different markets, but we firmly believe in Hublot’s own core values and overall strategy, so we will not specifically make changes to existing policies in a particular market. We will continue to work on the basis of the previous successful series. The most important success comes from the ‘Big Bang’ series and the ‘King Power’ series. We will cooperate with many partners in this regard. Another successful The foundation is Classic Fusion. We will add other innovations and success factors to the classic foundation. For example, in terms of dials, we will innovate on the classic structure. This is our view of the brand itself, so although there will be some specific factors in the Chinese market, we will still adhere to our own ideas and strategies.
WT: We know that Hublot has also launched some limited styles for the Chinese market after entering the Chinese market. This limited edition of China launched in cooperation with Ferrari is one of them. Some people understand this move as Hublot hopes to please China Consumers, do you understand that?
RG: We value the Chinese market very much, so we have introduced a lot of styles specifically for China in the past, and now we will continue. Regarding this cooperation with Ferrari, Ferrari is a very high-end brand, which can bring people respect and exclusive feelings. For example, they only produce about 7,000 cars per year, so the cooperation with Ferrari can also complement our Hublot. Watches leave respect and exclusive feelings in people’s hearts. The limited edition of Ferrari we launched this year is not just the only watch we have launched. We will continue to cooperate with Ferrari to launch new models in the future.
This year marks the 20th anniversary of Ferrari’s entry into China. From this, they launched the 458 Italia China Limited Edition model, and Hublot accordingly launched a commemorative watch for this model. In general, we attach great importance to the Chinese market and will continue to increase our investment in the Chinese market.
(Editor’s note: This car is specially designed by Ferrari for its 20th anniversary in China. There are only 20 cars in it. The design is inspired by the ‘Dragon Horse’ theme of the artist Mr. Ma Xingwen, because the Ferrari logo is ‘Yue Ma’ and it is on the hood There is a dragon design, with matte gold-coated wheels and gold trim on the side of the car body. The red of this car is also different from the red of Ferrari. —— Marco Polo Red. This car is very different in many details. The Ferrari commemorative watch launched this time is based on the previous version of the Ferrari series, the design is roughly the same, but there are some in the small mind Different, more with the car.)
WT: How do consumers respond and accept watches launched for China?
RG: Take the Ferrari commemorative model. Today, I saw many Ferrari owners and talked to them at the track. I also found that many Ferrari owners also wore Hublot watches. We and Ferrari share the same philosophy in many respects. We also pursue excellence in performance, innovation, quality, design, and sports itself. Watch fans applaud this, so this strategy has played a very important role among Chinese consumers. Good effect, Chinese consumers very much accept and welcome such measures.