The comeback of «Maurice Lacroix», after being on the brink of collapse, was achieved after the acquisition by «DKSH», a Swiss company specializing in market expansion services in Asia. In Geneva, finews.asia met with the head of the watch brand.
During the «Watches & Wonders» fair in Geneva, «Maurice Lacroix» opts out of the glamorous appearance. Instead, Managing Director Stéphane Waser welcomes customers and journalists at a business hotel near Geneva's main train station.
Many of his guests have Asian features.
The «HEC»-educated watch manager is approachable and communicative, albeit without the oversized ego commonly found in the industry.
Price Range between 1,000 and 3,000 Francs
In this respect, he is a fitting ambassador for «Maurice Lacroix,» which covers the entry-level segment of Swiss premium watches, with prices mostly ranging between 1,000 and 3,000 francs ($3,291) per piece.
The brand is known for its numerous sporting commitments, such as with «FIBA Basketball 3x3», «Volleyball King and Queen of the Court», «Mahindra Formula E», or, some years back, with FC Barcelona.
Acquired by «DKSH»
Less known is the recent history of the watch manufacturer. In 2011, the Swiss trading and services conglomerate «DKSH» acquired the brand and the distribution rights entirely.
The publicly listed «DKSH» (short for «DiethelmKellerSiberHegner») is 45 percent owned by the Keller family, represented in the board of directors by Andreas W. Keller and Adrian T. Keller. The latter also sits on the supervisory board of «Bergos» Private Bank.
Harry Winston, Roger Dubuis
Stéphane Waser, who has been working for the company since 2008 and has been leading it for almost eleven years, emphasizes in his interview with finews.com that the Asian expertise of «DKSH» was crucial for the survival of the watch brand.
«DKSH» at the time had «150 years of experience as an Asian distribution partner for the watch industry, especially in Japan». After «DKSH» had earlier lost the distribution rights for «Roger Dubuis» and «Harry Winston» due to a change in ownership, the ambition was to develop a presence again with its own brand.
Back to the Roots
The acquisition followed a not particularly successful shift in focus of «Maurice Lacroix» to higher segments of the watch market. «After the ‹Swatch Group› had threatened to stop supplying movements to other manufacturers, ‹Maurice Lacroix› attempted self-development.»
The re-positioning of the flagship model «Masterpiece», priced at over 10,000 Swiss Francs, coincided unfavorably with the financial crisis in 2009. «Today, our focus is clearly back on the traditional segment», says Stéphane Waser.
Blockbuster in the Line-up
The best-selling watch of the brand, accounting for around 70 percent of sales, is the «Aikon», available with an automatic movement starting from 2,250 Swiss Francs. The style is typically modern and urban, with nods to the 1970s.
The Maurice Lacroix manager sees the «Masterpiece Skeleton Label Noir», designed in collaboration with Geneva-based design boutique «Label Noir,» as a promising novelty. With its 43-millimeter case and the manual ML134 movement offering a power reserve of 45 hours, it is a model for more discerning tastes.
For discerning tastes: «Masterpiece Skeleton Label Noir» by Maurice Lacroix. (Image: courtesy)
Speed to Market
In recent years, there has also been a significant improvement in business performance. Mr. Waser attributes this to a return to the brand's DNA as well as massive improvements in processes and supply chain optimization.
Today, they produce four times more efficiently and deliver considerably faster than ten years ago. «Speed to market is crucial,» says Stéphane Waser. «Maurice Lacroix» manufactures in Saignelégier, in the Jura region.
