[Interview] Hublot CEO Ricardo Guadalupe

While 2020 was a year of hardship for many watchmakers, Hublot appears to have fared well. This year, Hublot introduced a new skeleton model featuring an automatic tourbillon with a white gold micro-rotor at the 12 o'clock position, and also collaborated with Takashi Murakami. Hublot CEO Ricardo Guadalupe explained the details.

Hublot's growth requires more vertical integration

Ricardo Guadalupe
Hublot CEO. Born in Neuchâtel, Switzerland in 1965. After attending Swiss business school, he graduated from the University of California, Los Angeles (UCLA). After returning to Japan, he worked as a product manager at Bulgari. In 94, he joined Blancpain, becoming director of sales and marketing in 97. He joined Hublot in 2004 and has held his current position since 12.

"We've been doing well since January 2021. Last year, the company was shut down in mid-March, but things have picked up since then. I think the results have been positive globally. We've been innovating with our products and continuing to invest in movements. The new automatic tourbillon is a good example. We've also been fusion design with external parties. Our collaboration with Takashi Murakami was a great success."

　Indeed, whether there is a COVID-19 pandemic or not, Hublot's stance remains the same as in previous years. What is interesting is the "small" Big Bang for women. While other companies are working on genderless watches, Hublot has dared to release a small 33mm diameter watch for women.

"There is a new trend emerging in the women's market, specifically smaller sizes. Hublot's unique One Click system, which is used on the Big Bang, makes it easy to change straps. This will also be useful for women. Currently, 25% of Hublot's customers are women. We would like to increase this to 30-35%. We would like to carry out promotions leading up to the summer."

　What was surprising was that e-commerce efforts only began last year.

"We don't see a difference between retailers and boutiques, as we want our customers to experience the world of Hublot. We would like to set up dedicated corners and shop-in-shops in retailers as well, and we would like to increase the number of boutiques from the current 115 to 150. However, because we were unable to open physical stores due to the COVID-1 pandemic, we started e-commerce in January of last year. Compared to Japan, e-commerce is stronger in Western countries, such as the UK and the US. We have also introduced special models in China. Currently, e-commerce accounts for 2% of sales, but we would like to increase this in the future."

　Hublot is flawless in everything they do. So, what direction will they take in the future?

"We must continue to be an integrated manufacture. We must also continue our approach to aesthetics. We must become more vertically integrated. This is important for Hublot to grow."

　Guadalupe's comments show no weaknesses. The fact that Hublot has continued to evolve without changing its strategy even amidst the pandemic is a testament to its innovative strength.