January 30, 2020
How has business been for MeisterSinger over the last year?
Last year was a challenging year for us. I think it was challenging for all the brands that focus on the US and European markets as we do. Having said that, we came out quite all right in 2019, and 2018 was a record year for us, so we’re still on track.
What is your best-selling collection?
One of the most successful models this past year has been the Lunascope with its huge moon phase that is precise to 128 years. It won three different design awards. I think the appeal of this timepiece is this big three-dimensional moon and its attractive price point at 3,290 Euros.
Are you seeing any interesting trends?
Consumers are focusing on traditional and safe values. This is emphasized by the success of Rolex, Patek Philippe, and Audemars Piguet, for example. Consumers are willing to spend their money, but they are looking for more of an investment. For MeisterSinger, our classical lines are doing well, especially timepieces that have been in our collection for over a decade. We are really seeing our consumers go back to our roots.
Can you give us a little teaser about some of the new products you will be presenting at Baselworld?
Our big launch this year is an astronomical timepiece called the Astroscope. It is quite simple from a technological standpoint, but the design is very interesting and out of the box. Moving forward, we will focus on models from our core collections.
Have there been any developments in your distribution network?
We are working together with our local partners on our online shops. Our model is to involve local retailers so that when a sale goes through, the closest retailer gets about 70% of his normal profit. This is the only way in our opinion. Brands need both online and offline and it is important for us to have real partnerships with our retailers and let them benefit from online sales.
Distribution is getting increasingly difficult for smaller brands as there are fewer distributors since big groups are taking over markets by themselves. At MeisterSinger we have a loyal group of partners, although increasing this number is a challenge. This is also one of the reasons we are exhibiting at Baselworld to open new markets worldwide.
How important is Baselworld for you?
Nowadays many brands are moving towards their own events to introduce their novelties, which I find unfortunate. The most important ambassadors of any watch brand will always be the retailers and if they are spending the majority of their time touring brand events to purchase timepieces, they aren’t in their stores, doing what they do best, which is selling products. Baselworld is a platform for trade that supports the industry and I feel that sadly many brands are forgetting this.
I recently read an article on WatchPro where there was a long list of watch previews around the world from brands not exhibiting at Baselworld and it was madness. These big brands should also think about their social and environmental responsibility and not invite so many people to fly all over the world to visit their events. Platforms like Baselworld and Watches & Wonders are also the best thing to do from an environmental standpoint.
MeisterSinger GmbH & Co. KG
Hall & Stand
- 1.1 | D16