Hublot CEO: China markets the main focus (updated)

Hublot, one of the leading luxury watch makers in Switzerland, is targeting China markets even more. The company, part of the LVMH (LVMH) Group, market cap 186 billion euros, and its Watch division, said the same thing already a year ago, but the target is still the same. According to the CEO Ricardo Guadalupe, Hublot is aiming to become one of the leading watch brands in China and Greater China.

– We are focusing on China and Greater China markets. Our aim is to be one of the leading watch brands in China and Greater China, Mr Guadalupe said in the ComteamPUB+ interview on Thursday.

The company has not revealed the export figures, but according to Swiss Watch Industry information the China, Hong Kong and Singapore markets totalled nearly 30 % of the overall Swiss watch exports. In May the export totalled over 2 billion Swiss francs, growth 11,4 %. The biggest growth was in the premium & luxury watches, which are priced over 3000 francs.

The company is expecting a very strong growth for this year. The double-digit growth is said to continue “over the end of the year” according to Mr Guadalupe.

China is seen one of the fastest growing luxury markets in the future. In 2018 the Chinese consumers spent about 115 billion dollars on luxury items, which is one third of the global spending. And this is expected to growth in the future also so that by 2025 40 % of the world’s spending on luxury goods would be by Chinese consumers (McKinsey). So, it is not a surprise that Mr Guadalupe is talking about China.

Is luxury becoming more common?

This question is about the luxury spending and how the luxury markets are expected to develop in the future. But Mr Guadalupe has a point.

-Absolutely not for the real luxury, he says.

And he is referring for the real thing. Real luxury has always its prestige and value among its users. And this is also part of the demand for the vintage or retro luxury items in the markets at the moment.

For example financial markets are expecting the US company RealReal to be listed in New York. The company is an online marketplace for luxury products and according to the company info the trading of the shares are expected to start today, not yesterday as earlier estimated. The company raised 300 million dollars, at 20 dollars each, above the 17-19 dollars range earlier estimated. Sustainable, circular luxury is also entering the main markets.

Hublot and “Art of Fusion”

The clear sustainable standing point for Hublot is the materials. The company has been innovative and finding new ways to integrate different materials in the watch production over years. It is part of the company ideology of the Art of Fusion – the way the tradition of high-quality Swiss craftsmanship and innovation can be combined.

The material lists include magic gold, carbon, rubber, aluminium, ceramic, king gold, palladium, platinum, stainless steel, tantalum, titanium, tungsten, zirconium, osmium and aluminium. Hublot can say that it has clearly been the innovator in this area in the Swiss watch industry.

The company says that it is now also working with sustainable bags while the banning of plastic bags is already a trend in Europe.

Collaboration with Ferrari and FIFA

– The collaboration with Ferrari and our involvement in FIFA World Cup are our two main partnerships, Guadalupe says.

– This year we have two collaborations with Ferrari. The Classic Fusion Ferrari GT, which is an elegant and contemporary piece that draws inspiration from the “Gran Turismo” universe. And the Big Band Scuderia Ferrari 90 ans. This is a model that reflects the rich history and heritage of Scuderia Ferrari, he continues.

Japanese food and sea

But what does Mr Guadalupe do for the summer time? Japanese food and sea.

– Food can be compared to the watch industry in a certain way for their attention to quality, time and details. I like to spend my holidays in the Mediterranean, at Mykonos or Ibiza. Holidays is for me synonymous with relaxing, sport and good food, he concludes.

Hublot, which was founded in Switzerland in 1980, has made the journey with innovation and unique products. Watches like Big Bang have paved the way to new flagship collections like Classic Fusion and Spirit of Big Bang.

Picture: Hublot classic watches from BaselWorld 2017-2019

Business Lifestyle Sports

Sweden to foster 100% renewables flying by 2045 -DI

Sweden is to foster 100% renewables flying by 2045, according to Swedish Dagens Industri newspaper. Scandinavian SAS (SAS) and Swedavia are one of the actors in the Swedish Initiative, which targets to end the fossil energy flying and to transform 100% renewables by 2045.

According to the CEO of SAS, Mr Rickard Gustafson, the planes can already fly with renewables, but the problem is that there is not enough production to fullfill the needs. And that is why the initiative has been taken in order to solve the big issue of the renewables in big scale in the domestic and international flights.

Swedavia, which operates the airports, has said that their aim is also to produce zero emissions from their own operations by 2020. In January 2019 there were 2.830.000 passangers flying to and from the Swedavias airports in Sweden.

Business Lifestyle Travel

The car of the year: Jaguar i-pace

The car of the year, Jaquar i-pace, is an exciting new friendship. This electric SUV car is full of innovations and design. According to the company, it is the culmination of years of engineering and arts. And so it is.

My first testdrive ever with Jaguar was exciting. The batteries of the Jaguar i-pace are high energy density lithium-ion cells, which are located within the floor, between the axles. They offer low centre gravity which is a perfect touch for winter roads.

And yes, electric car is silent also inside the car. Jaguar will give you a comprehensive 8 year warranty or 160.000 kilometres for the batteries (90 kWh). In some cases, the warranties might be shorter ones, like 5 year or 100 000 kilometres, so this is a plus for Jaguar.

According to the company, the driving range for a single full charge, is about 480 km on the WLTP standards (worldwide light vehicle test procedure). This new process, which has been in force from 2017, measures closer the real-world driving behaviour. It is about more demanding test procedure than before. It is about emissions, range, fuel and energy consumption in passanger vehicles in Europe.

Jaguar sport electric car shows the very best craftmanship of the British car industry. This sporty, modern and stylish interior will balance the new and old, like the pre-cool or pre-heat functions in the cabin via the Jaguar application.

This all-wheel-drive, two electric motors SUV is good to steer and park. The dimensions inside the car are within reach and the design allows you to optimize the steering.jipaceva04profile120918-resize-1221x814-crop-1140x814

Jaguar is also committed to reduce the dependency of fossil fuels, using fewer natural resources and creating less waste as part of the company approach to responsible and sustainable business development.

 

Lifestyle Tech Travel

Unilever Treschow – Sustainability important to Boards

The Chairman of Unilever Board Mr. Michael Treschow says that it is important that Boards recognise the long and short term indicators for the sustainability in order to gain success from it. He was speaking in a webinar organized by the Conferenceboard Canada and B.Accountability on Thursday 26th February.

According to Treschow it is important in the future to balance the targets. Unilever has stated that the company will reduce its environmental impact to half by 2020 from the year 2010 levels and to continue to growth.

According to the company web site Unilever has avoided costs of over 350 million euros since 2008 by focusing on more sustainable solutions. The company has also stated that they have committed to sourcing 100 per cent of their palm oil from certified and traceable sources by 2020.

Unilever has published its guidelines and according to that the company will report the financial figures twice a year instead of every quarter.

According to Treschow Unilever has put effort on corporate communications in order to meet the expectations of different stakeholders.

He was also commenting about good governance and stated that Boards need to be more in connection to business than perhaps ever before, but also that Boards need to be more diversified than before.

Unilever is one of the leading companies in food production and it is estimated that food production needs to increase by 70 per cent to meet global demand in 2050.

 

Business