[Interview] Greubel Forsey CEO Antonio Calce

Greubel Forsey produces 100 watches a year, with an average price of several tens of millions of yen. According to those involved, business is booming despite the COVID-19 pandemic. The person currently leading the company is Antonio Cartier, former CEO of Girard-Perregaux. The company has made the transition from a company that produced mass-produced luxury goods to the extreme world of haute horlogerie. Why did Greubel Forsey need him?

A leading niche manufacturer finally shifting gears to expansion

Antonio Cartier
CEO of Greubel Forsey. Born in Italy in 1967. After studying engineering and business administration, he joined Piaget in 94. After serving as head of the technical department, he moved to Panerai, where he was responsible for the Panerai Manufacture from 2000 to 05. He was then invited to serve as vice president of Corum, and became CEO in 07. His skills in the transformation into a manufacture were highly praised, and he was appointed CEO of Girard-Perregaux in 15. He has held his current position since 20.

"I've known the founder, Robert Greubel, for 15 years. In the fall of 2020, he asked me to come up with a strategy for the future, a strategy for the next 10 years, including not only creative but also organizational and distribution aspects. Greubel Forsey is a niche company, but it has 120 employees. I think it's now necessary to have a management team and a strategy."

　Cartier is moving forward with its expansion into new fields. "Currently, we have one pillar in our business, historical pieces. In the future, we would like to add a new segment of watches to that. A collection with designs and modernity that appeal to the younger generation. We would like to expand this over the next three to four years." This plan is quite ambitious for a niche manufacturer.

"We would like to increase our annual production to 500 units in the future. However, the quality will remain the same. In other words, we will not change from what we have done up until now. Next year, we will release new products in January, March, July, and September. Our target audience is people who are educated about watches."

　To be honest, it remains to be seen whether Greubel Forsey can increase production while maintaining its amazing finish. However, the fact that they have clearly stated the timetable suggests they have a good chance of success. So, what will happen to Complitime, the manufacturing division? The company is an extremely prestigious workshop, with clients including the Richemont Group.

"While they do have business with other companies, currently 85 to 88 percent of their production is for Greubel Forsey. It's safe to say they are a company that exists almost for themselves."

　We asked Cartier, who says that 2021 is expected to be the best year for sales in history, a tricky question. Even amid the COVID-19 pandemic, micro-manufacturers such as FP Journe, MB&F, and Greubel Forsey are seeing increased sales. How will the company respond once the so-called "watch bubble" ends?

"What these companies have in common is that they have no competitors in the same segment, and their content and creativity are outstanding. Also, because they are independent, they are not involved in political games. Customers are looking for something special, something more emotional, and this trend will not change even after the coronavirus pandemic subsides."