Year after year, RICHARDMILLE has maintained an enviable growth rate of 15%. After 2017 revenue reached 260 million Swiss francs, the brand produced more than 4,600 watches per year in 2018, with revenue of more than 300 million Swiss francs, a new record. The target for 2019: to produce 5,200 watches per year, further ‘invading’ the art world.
RICHARD MILLE pavilion at the SIHH 2019 in Geneva
Belgian singer JacquesBrel has a song that brings sweets to lovers because it is ‘so delicious’. RICHARDMILLE kept these words in mind and launched the new Bonbon series, which contains a total of 10 models, each limited to 30 pieces. The Bonbon series is divided into two types of delicious ‘desserts’ of honey and fresh fruit. Among them, there are 4 flavors of honey and 6 flavors of fresh fruit. Whether lollipops, marshmallows, licorice rolls or cupcakes are mouthwatering. RICHARDMILLE’s loyal fans have lauded this latest collection as coveted and coveted to wear these ‘candy’ watches. There are rumors that these imaginative watchmaking results have all been sold out before they have been mocked and teased by good people.
Feminine elements in the RICHARDMILLE brand family
No one would laugh at the extraordinary success of RICHARDMILLE, the brand has stood out with extreme solutions. ‘We may be a young brand, but no one has more technical experience than us!’ Mr. Richard Mille announced that he and his friend Dominique Guenat founded the same name brand in 2001. The extreme approach to movement and materials, combined with the aesthetics of a surgical-like exercise, has so far worked wonders, as evidenced by the 2018 financial results. In 2018, RICHARDMILLE produced 4,600 watches per year (4,000 in 2017) and revenues of more than 300 million Swiss francs (2017: 260 million Swiss francs). This year’s target: 5,200. ‘We have excellent dynamics,’ Mr. Richard Mille explained in an interview with the Swiss financial daily ‘L’Agefi’, ‘Although we are increasing production by 15% every year, demand is growing at a higher rate. The average of RICHARDMILLE watches The retail price is above 200,000 Swiss francs, which puts us in a market segment where it is difficult to define a cap, and there are no precise statistics on this. ‘
RICHARD MILLE RM 07-03 Litchi watch
RICHARD MILLE Bonbon Marshmallow watch
Even if the brand does not intentionally allow demand to determine production, it can maintain an enviable growth rate (+ 15%) for a long time. ‘RICHARDMILLE is a highly sought-after brand because of our prudent self-esteem and a truly consistent brand strategy,’ Mr. Richard Mille continued. ‘We intend to continue to maintain high levels of creativity, limited production and selective distribution.’ First, a few For months, the female market segment has been the focus of attention. RICHARDMILLE produces 900 women’s watches each year, currently accounting for about 25% of overall sales, and continues to grow. As always, RICHARDMILLE welcomes world-class female athletes to join the brand family, including Czech snowboard and alpine skier Ester Ledecká and Ukrainian high jumper Yuliya Levchenko. Celebration party. In terms of design, artistic director Cécile Guenat has been in charge since last year. After the success of the Talisman collection, her Bonbon collection brought joy to visitors at the SIHH in Geneva this January.
Tokyo Palace Art Center
Art is about precision
Second, RICHARDMILLE is further developing its links with the art world. The brand has just announced a three-year collaboration agreement with Tokyo Palace of Contemporary Art, the largest contemporary and experimental art creation centre in Europe. ‘Most importantly, we create works that are artistically conceptual in the sense of aesthetics and etymology,’ Mr. Richard Mille commented in the January issue of the ‘Entrepreneur’ magazine. ‘When customers start buying RICHARDMILLE watches, It’s a rare work of art. ‘To fulfill this vision, RICHARDMILLE has reached an agreement with the Frieze Contemporary Art Platform, which hosts exhibitions in London, New York and Los Angeles, and also works with dance director Benjamin Millepied and street artist Kongo. The brand also acquired Editions Cercled’Art, founded by PabloPicasso. As RICHARDMILLE did, wanting to be a disruptive force in the fine watchmaking industry should be creative, in the words of the Tokyo Palace team when they announced the partnership, ‘Working with art is also about precision!’.
RICHARD MILLE RM 16-01 Strawberry watch
RICHARD MILLE RM 37-01 KIWI
Finally, selective distribution still has many untapped growth opportunities. RICHARDMILLE is gradually withdrawing from the multi-brand retailer channel-there are still more than 20 remaining-focusing on self-operated boutiques. By the end of this year, RICHARDMILLE watches will only be sold in more than 40 self-operated boutiques worldwide. To date, RICHARDMILLE’s newest and largest boutique is located in central Manhattan, covering an area of over 390 square meters. Although RICHARDMILLE can only keep up with the pace of demand, the brand will not open new stores blindly. In the medium term, Beijing, Boston, Washington, and even Dallas, Houston, and Kobe are on the preliminary list. Keep in mind that at present RICHARDMILLE has only one boutique in China and Latin America only partially covers it, while Africa, Eastern Europe and India are still blank. (Photo / text watch home compiled by Xu Chaoyang)