Tuesday, January 13, 2015

Raymond Weil Stuck to Tradition, Took a Big Risk, and Enjoyed the Rewards

Luxury watches are a sign of good taste, sophistication and elegance among men – and Raymond Weil and his luxury watches are the forefront of the industry. His Raymond Weil Geneve watches are well-known among watch connoisseurs for their excellent quality of craftsmanship, elegant designs, and accurate timekeeping, thus, making the brand one of the leaders among Swiss luxury watchmakers.

But Weil started his company at a time when it seemed like it was foolish to do so. In 1976, after he worked for 27 years at Camy Watch SA in a variety of roles including its chief executive officer, he decided to establish his own watch company. This was at the height of the so-called Quartz crisis when inexpensive electronic watches were eating into the watch market and when many Swiss manufacturers adopted new technologies instead of the traditional mechanical movement.

Weil persevered despite the challenges that came his way. Under his leadership, Raymond Weil Geneve established an international network of distributors worldwide including the Middle East and China with sales averaging 2,000 watches annually with the affordable yet still luxurious watches priced at £1,000 and up.

While many Swiss manufacturers decided to adopt newer technologies to adapt to the new market trend, Weil chose to stick to traditions and, thus, took a huge business risk. His company continued to manufacture the luxury watches according to the traditional methods although he was also open to the newer technologies. His decision to stick to the traditions of Swiss watchmaking while also adapting newer technologies made his company one of the most successful in the industry today.

His company is also one of the few that have resisted acquisitions and mergers into larger groups. Today, Raymond Weil Geneve is an independent family business owned and operated by three generations of the family, with his son-in-law, Oliver Bernheim, now at the helm.

Not bad, indeed, for a business that started in the middle of a crisis and, thus, a match made in watch heaven especially for watch connoisseurs who want affordability and sophistication in one package.

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