Girard Perregaux

AndrewD
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Interview with Michele Sofisti, CEO of Sowind Group

Michele Sofisti was appointed as CEO of Sowind Group (Girard-Perregaux and JeanRichard) in August 2011, which followed PPR's acquisition of a majority (50.1%) shareholding in the Sowind Group in July 20 11. The Macaluso family own the remainder of the company and Stefano Macaluso is the Managing Director for GP and Massimo Macaluso the MD for JeanRichard. Michele also continues as CEO of Gucci.

Looking on from outside, the links with PPR (who are involved with a number of luxury brands including Gucci, YSL, Balenciaga and Boucheron) and the new structure appears to have brought stability and renewed focus to this historically significant company that we all love. During my recent visit to La Chaux-de-Fonds I was keen to find out a little more about what makes Michele 'tick'. I hope you enjoy learning more about his background, interests, approaches to management and views on GP and JR.

Andrew

1. How would you describe GP to someone who knew nothing about the brand? What are GP's core values?

In a few words, Girard-Perregaux is an Haute Horlogerie and history-charged brand. It has a prestigious heritage paved with constant technical and mechanical innovations. It is one of the few manufactures mastering the art of watchmaking encompassing the whole process from the creation of the components to the forging of its ‘heart’, the movement. Inherent to this culture and global expertise, we strive towards excellence. Finally we want this expertise to be applied with a modern approach, always keeping an eye on the future.

2. What does PPR bring to GP? Should we be concerned that the family business and company history will be diluted now that it is part of a conglomerate of luxury brands?

The motto of PPR is to empower people and brands. This mean that Girard-Perregaux has joined a Group that is run with a lot of respect for Brand history, know-how, quality and heritage. But also that the PPR ambition is to maximize the potential of Girard-Perregaux in the long term. Being part of a conglomerate like PPR brings amazing perspectives. It gives us a lot of security for the future, with our partners on the industrial or distribution side. It gives the brand more capacity to invest.

We are changing many things but in the sense of evolution rather than revolution.

Girard-Perregaux has a history spanning over 220 years and a very bright future.

3. As watch collectors we are much more familiar with the roles of watchmakers, dial makers, etc.  but can you describe your role as the CEO of the company and your day-to-day responsibilities? ?

I see my role as the one who brings a clear vision and a clear strategy attached to this vision. Then I am helping our team of specialists in its daily implementation… I see myself in the middle of the team to try to help the definition of the strategy and, also, part of a bigger team never distant from daily operations. In particular, I get involved with products, marketing/communication and distribution, because these are the essence of any brand. I love to structure all my actions keeping simplicity in mind. Simple communication, more impactful and simple collections and simple, direct and transparent relationships with our commercial partners.

4. PuristS like to know about the motivations of large companies and the people behind the brand. Can you tell us about your background and what you specifically bring to GP?

My background is very particular and I must say that I enjoyed every experience I have had in my professional career. I started as geologist working in tunnel constructions then changing to work for automaker Ferrari. A mythical company where I learned about branding, history, service to passionate clients, innovation, research, and a lot more. I then went to Omega to start my watch career and I was honored to become the Brand’s President as I did years after for Swatch. And now, finally, I am CEO of  Girard-Perregaux and JeanRichard, without forgetting the experience as CEO of Gucci watches too. All very exciting, incredible Brands and history to be involved in. 

5. Do you have a favourite watch in the GP collection? If so, why is it special to you?

I like in particular two watches, the Sea Hawk and the ww.tc. The first one when I practice sport, the latter being really convenient for long travels. Both are extremely enjoyable watches.

6. Do you have one watch that you wear regularly?

Not really. Today I wear Girard-Perregaux or Gucci timepieces and, from time to time, the new JeanRichard. I get very much into the Brands where I work and I would never wear any other product.

7. Do you have any other passions outside of horology?

I love and practice sports, in particular tennis and skiing. Beyond this, I am into photography. I did some exhibits around the world, published a book and I have a collection of photo books. I get very much inspired and relaxed about photos. It could be my wished job if only I was not so attracted by watches and their mechanics.

8. What can we expect from GP over the next few years?

As I said earlier, Girard-Perregaux has a bright future. We have initiated significant changes and projects and this is an on-going process. The brand has intensified sharply its effort in the field of Marketing with projects such as The New Face of Tradition, a unique initiative in the industry featuring the young watchmakers from our Manufacture. Iconic partnerships such as those with Susan and David Rockefeller, Andrea Bocelli and Kobe Bryant have helped to create visibility and more awareness. Our presence on the internet with our new website or original projects such as our digital diary, "mechanics of style", has increased significantly.

As far as distribution is concerned, we have engaged a rationalization and optimization work at international level.

Last, the product, creation, research and development are priorities. We are rationalizing the collection that was offering too many references but at the same time launching a number of new projects. Our collaboration with watch inventor Dominique Loiseau to unveil an exceptional grand complication in early 2013 is a first step of a long story. The manifesto of time, connected to this new grand complication and project, aims at overturning watchmaking conventions. 

Watchmaking has evolved, historically, through conventional and rational means — a logical progression that nonetheless created technical constraints. To move forward, we are trying to free ourselves from these constraints, ignoring the conventions that limit us. The presentation of our Constant Force escapement will be another breakthrough.

The launch of a new sport collection in December will renew the brand’s tradition of crafting sport watches, with an innovative, edgy design yet taking from the DNA of previous Girard-Perregaux collections.

9. What is your opinion of the Internet, the watch forums such as PuristSPro and other mediums to reach out and communicate with customers?

Communication models have changed. The importance of the internet is increasing, yet it is not the one and only medium. It is key to orchestrate the brand message through different channels in a coherent way. The information delivered needs to be authentic, qualitative and relevant. One also needs to listen to its customers and be open. A brands communication is no longer only based on what it tells customers, but also on what people end up telling each other. So engaging with them is key. This is the logic that makes social media and forums so relevant today. Then, as a brand having as much technical expertise and high-end products as Girard-Perregaux, specialized forums such as PuristSPro are key media. Again to engage with people. Because this is a place to encounter true experts and passionate people. We learn a lot through forums.

10. If you could have any job in the watch industry, what would it be?