[Interview] Parmigiani Fleurier CEO Guido Tereni

Following on from the previous issue, there's a reason why we're featuring the CEO of Parmigiani Fleurier. The previous CEO, Davide Traxler, who was responsible for the Tonda GT collection, stepped down before the article was published, and a new CEO was appointed. His name is Guido Terreni, and he's well known to readers of this magazine. Having served as director of Bulgari's watch division and driven the company's vertical integration, it was hard to imagine him moving to Parmigiani.

To me, success is spreading the demand for genuine watches.

Guido Tereni
CEO of Parmigiani Fleurier. Born in Italy in 1969. After graduating from Luigi Bocconi University, he began his career at the Danone Group in 1995. In 2000, he moved to Switzerland and joined the Bvlgari Group's watchmaking division. After driving the company's vertical integration and rebranding, he became President of Bvlgari Horlogerie in 2010. He has held his current position since January 2021. He says, "I want to catch the eye of the most discerning watch enthusiasts."

"I've known Michel Parmigiani for over 20 years. I've learned so much from him. For example, the D-buckle. I once asked Michel why he didn't use one. He replied, 'How can you see the movement with a D-buckle?' There's a reason for everything he does."

　Since its founding, Parmigiani Fleurier has embraced a niche position, and the new Tonda GT collection could be seen as a departure from that image.

"I think Parmigiani is a niche brand, but it does need to have a presence. I want to breathe new life into it with things like color, but it has to be a color that can be enjoyed for a long time." It seems that from the very first day in office, Tereni has been searching for a new style for Parmigiani Fleurier.

"For the past few months, I have been thinking about what makes Parmigiani Fleurier unique. It is true that the trend in luxury watches is towards casual and sporty styles. However, what is more important is the power of the brand. My idea of ​​success is not to make casual watches, but to further expand the demand for genuine watches like Parmigiani. It is not about following trends, but about building a following. Fortunately, Parmigiani is niche and exclusive, but we are blessed with customers who understand it." It will be a difficult journey, but he seems to have a good chance of success.

　Another thing I wanted to ask about was distribution. Parmigiani has gained the trust of retailers by not going online or into boutiques. If they suddenly changed, they would lose that trust.

"I believe that Parmigiani Fleurier watches cannot be handled without knowledge. Therefore, we have no plans to change our sales strategy and would like to maintain our distribution."

　It would be unfair to expect any big answers from a CEO who has only been in the position for two months. However, Tereni seems to have his own answer. "In a few months, the model of Parmigiani that I have in mind will emerge." We will have to wait until we see what he wants to do with Parmigiani to judge.