New direction to bring long-term gain
The firm is switching from product development to strengthening its brand image, and it is planning to open a boutique shop in Hong Kong
Corum has changed gear this year, switching its focus from product development to concentrating on communicating its new direction to the market. The watchmaker also announced that Hong Kong can look forward to its first Corum boutique in the near future.
The company was dealt a blow this summer with the sudden death of its chairman, Severin Wunderman, who bought the Swiss-based watch company eight years ago. But the Corum team is determined to build this family business.
The company's CEO, Antonio Calce, joined Corum three years ago. Since taking the reins he has had a specific plan in place for the brand.
'I'm building a long-term strategy. I don't want to make money very fast. That doesn't interest me. I say to my people don't push the product. It's very important to do business with the right people but it's not a numbers game. It's about long-term value.'
The challenge is to create longevity for the brand, ensuring that it remained a niche brand. 'Nobody needs a watch to tell the time anymore because most people have mobile phones,' Mr Calce said. 'Some people will buy a watch because it looks beautiful but for me this is not enough. We are not a fashion brand and we don't have a big marketing strategy. When you buy a Corum watch you buy the quality and the content and not just the design.'
The company has spent the past two years developing its products and investing in its Swiss headquarters in La Chaux-de-Fonds. Mr Calce said his next goal was to create a strong identity and image through point of sale marketing and by working closely with the firm's partner in Hong Kong, Swiss Prestige. The soon-to-open Corum boutique in Hong Kong is expected to immediately raise the profile of the brand. A boutique is also due to open in Macau, but the company has yet to disclose the two sites.
Corum is a relatively small operation, producing just 20,000 pieces a year, and the company has no desire to increase this for fear of diluting the brand. All Corum timepieces evolve from the four pillars of the brand - the nautical themed Admiral's Cup; the Golden Bridge series, which displays the craftsmanship of the brand; Romulus, the watchmaker's classical collection; and Artisan Timepieces which shows off the artistic creativity of the brand.
Mr Calce said these pillars were the DNA of the brand. 'If a person likes a very special movement he can see this in the Golden Bridge. If they want a sports watch they can go for the Admiral's Cup. There is something to suit all in our range.'
An exciting addition next year will be the release of the 44mm Admiral's Cup watch, which will incorporate a specialised GMT movement.
The Admiral's Cup collection added several new models this year, including the Admiral's Cup Leap Second 48, a split-second chronograph with jumping seconds. Featuring 40 jewels and a frequency of 4Hz, the chronograph vibrates at 28,800 beats an hour. There is a 30-minute counter at 3 o'clock and the jumping seconds hand is at 9 o'clock. All hands and numerals are luminescent.
The latest watch is the Romulus Perpetual Calendar. This high complication watch features an automatic skeleton movement with perpetual calendar and moon phases.
Housed in an 18-carat red gold case, the watch displays the date, day of the week, month and moon phases and will do so until 2100 with no need for any adjustments.
The main plate and bridges are bevelled, engraved by hand and rhodium-plated. Maintaining the company mantra of retaining its niche status the watch is limited to 25 pieces.
