The world of mechanical watches. Interview with Stéphane Waser, Managing Director at Maurice Lacroix & DKSH Watches

We sat down with Stéphane Waser, responsible for the watchmaking division at DKSH  and Managing Director for Maurice Lacroix, the Swiss brand well-known for crafting watches that deliver high perceived value. Our conversation revolved around AI, of course, new trends and his own hopes for the future. watches from Maurice Lacroix are a good observation deck for what’s coming in the luxury industry, and how consumer tastes are changing.

What are the latest trends for mechanical watches? 

Stéphane Waser: First, we all have seen lots of collaborations with other watch brands, fashion brands, artists, maestro-s. It’s a trend for sure. This initiative has been traditionally owned by Swatch, but they did not venture into mechanical watches. Now everyone does it. Collaborations allow you to tap into new audiences and give the brand equity a different angle. It’s a way to create urgency and some ‘cool’ factor, with lower risks from the production side, since it’s usually about limited editions. You can use this program as an engine of growth, as you launch one collab, deliver it to collectors, and then move on to the next one, thus maintaining brand heat.

A second trend would be the growth of CPO (certified pre-owned) watches, with the comeback of vintage styles and smaller dials, as we go back in time. the leading brands that we know have limited their offer, so fans must go to the secondary market to get their gear, with the discovery of old silhouettes, smaller dials and some independent watchmakers.

All in all, over the past ten years, fashion watches have been wiped out by the i-Watch and the other smart watches. The middle ground, the affordable luxury segment, has grown, but not as much as you could think. The real huge increase since Covid sits with the high-end mechanical watches, but that’s also driven by some price inflation. Indies have prospered also because the big, global brands have long wait-lists. The opportunity for the indies is, anyways, limited, because they can’t scale-up operations immediately, and there is a ceiling for their production anyways, which is not that bad if they want to keep their appeal.

What are your thoughts and feelings about exponential technologies, like AI? 

Stéphane Waser: AI does help, but it depends where you use it. Absolutely useful for supply chain and operational planning, as you can now analyze and make sense of tons of data, easily and without the use of large teams. You can keep your costs under control, and still up your operational efficiency, in a very smart way. You will still need the human touch, but it’s a big augmentation of your intellectual and planning power.

From a creativity point of view, you can try to ‘augment’ your brainstorming capabilities, and observe what the machine or model can do, or which ideas it comes out with. It’s a way to have another pair of eyes on the innovation front. At DKSH, we are obviously working on it, together with the IT Department and the Board. Security is also another big one for us, as we expand digital and operational capabilities globally.

What’s the plan for Maurice Lacroix & DKSH watches for the near future? 

Stéphane Waser: We for sure need to strengthen our positioning in the affordable luxury segment. Lots of watch brands have left this space, and there is a sizeable opportunity, as there are fans looking for quality and the right price for it. 2025 will be our 50th anniversary, and we are completing our product portfolio to cover all needs, in terms of gender, age groups, quality, price points, styles. We are ready to shift gears.

At a group level, we want to continue serving other brands, as a distributor, like we do today. Distribution capabilities is a fundamental asset for us. We are one of the few pan-Asian, multi-brand distributors.

My hope and homework are to make Maurice Lacroix stronger. We are progressively moving resources towards awareness better marketing. We did our turnaround a few years ago, and now it’s growth time.

Written by Francesco Pagano.
Have you read?
World’s Most Powerful Passports.
Richest Countries In The World.
Poorest Countries In The World.
Happiest countries in the world.
World’s Highest (and Lowest) Life Expectancy.