A lot of the clientele in India is moving towards high-end smartwatches being made by companies like Apple. What does this mean for Swiss luxury timepieces and its market in India?

I do not think that [high-end] smartwatches are a question of nationality, but of generation. We are talking about millennials here. It is true that today, people—especially millennials—tend to be very much interested in electronic watches. However, I do not see it as a threat to Swiss luxury timepieces. Actually... they are two very different items, that are used for different purposes. You can own an Apple electronic watch as well as a Ulysse Nardin timepiece. Both are not incompatible. A mechanical watch is never going to let you read the last text message you received, just as a smartwatch will never be able to bring you the amazement that you can get when observing your last complicated timepiece.

Does Ulysse Nardin have any plans of entering the luxury smartwatch segment?

What we bring to the end-consumer is its savoir-faire—be it from a mechanical standpoint or from an artisanal standpoint. It would not be the case for a smartwatch. The name of the brand is not enough to add value to the product if it is only an empty marketing story. And this is the opposite of what Ulysse Nardin stands for. I don’t think there is any value in Ulysse Nardin making a smartwatch: I don’t see what more we can bring to the end-consumer.

Ulysse Nardin traces back its legacy to the sea and marine chronometers. Leisure activities revolving around the sea—like sailing—haven’t been as popular in India as they have been in other countries. Do you see this trend changing in India?

It is true that Ulysse Nardin’s ties with the sea are strong. This is even the reason why the manufacturer first acquired its reputation of being a first-class watchmaker and its timepieces of being high-precision tools. But our brand does not limit itself to that. Over the past 20 years, we have introduced many technical breakthroughs. The last one goes back to March 2019 with the FREAK neXt and its 3D flying oscillator made of silicium. People who are interested in Ulysse Nardin are not necessarily all sailors or divers. They usually are watch-lovers, who value the technical savoir-faire.

How are the demographic trends of Ulysse Nardin’s customers changing in India?

We are managing to keep the traditional Ulysse Nardin customer—a watch connoisseur who knows how to appreciate the beauty of a movement—while at the same time reaching a younger segment, the millennials, thanks to our new modern-looking products and our new communication campaign.

The government has increased the surcharge on tax to be paid by the super-rich in India. How do you see this impacting demand for luxury timepieces?

I think there will be no or negligible impact for luxury watches.

Which is the bestselling Ulysse Nardin watch In India?

The Marine Torpilleur is the bestselling timepiece globally as well as in India. We are actually working on bi-colour versions of these models, especially for the Indian clientele.

Marine Torpilleur

Swiss or smartwatches? It’s not that complicated