Published on November 8, 2024 at 07:45. / Modified on November 8, 2024 at 12:31.
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While the watch sector accelerates its flight towards the high end, Niels Eggerdiing, director of Frederique Constant, is banking on the lower segment.
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It even plans to gain market share on affordable Swiss watches, between 1000 and 2500 francs, over the coming years.
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He has been preparing this strategy for months. The production tool and governance are now aligned with this objective. He promises an aggressive deployment starting next year.
Niels Eggerding has headed Frederique Constant since 2018. He has the same Dutch origins as the husband and wife Peter and Aletta Stas, creators of the watch brand established in Geneva in 1998. The company changed hands, taken over by the Japanese Citizen in 2016. Without nonetheless changing vocation: “Making beautiful, accessible watchmaking.” These words are not a real quote. They are taken from memory, the Stas couple so often used them to define the business, which broke out in the middle of their careers as economists.
It is moreover this positioning in the accessible traditional watch (on different types of products, from the three hands for all audiences to the large manufacturing complication) which makes the brand an indicator of the state of the industry, followed closely by observers. Although management does not give any figures as Citizen is publicly traded. Too bad, because according to Morgan Stanley, business is currently very volatile.
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