Views From The Top

Watch industry CEOs weigh in on prevailing market trends and hot-button issues.

- Celine Yap

Jean-Claude Biver

CEO, TAG HEUER AND PRESIDENT OF LVMH WATCH DIVISION

One of the biggest trends over the past few years had been neo-vintage watches. Do you think this is a good trend?

Yes, it’s a big trend and no, it’s not good at all. The trend to repeat yesterday is not a good trend. Why? Because we cannot go forward by repeating yesterday. It’s a trend that shows people are hesitating, that people don’t know what is tomorrow, and when you don’t see tomorrow, where do you look? You look to yesterday. It’s not necessarily a good trend. But on the other hand, before going to tomorrow you must understand yesterday. If you understand history, you can understand the future.

Why do you think it’s got such a huge impact on the industry though?

I think it’s a trend that comes from millennials who need to connect first to yesterday before they can go to tomorrow, so it’s a trend that I can understand. But it’s not a trend that will last. That is probably the most important thing to say. It’s a trend that’s necessary for the millennials but it’s not a trend on which you can build the next 10 years.

The swiss watch industry is known to be quite risk averse. But you’ve done quite the opposite. Why is it important to take risks?