Luxury is about roots and DNA: Omega CEO – Moneycontrol

Raynald Aeschlimann believes that young customers are interested in new watches with some vintage appeal, and that stores should be non-intimidating spaces

April 18, 2021 / 10:24 AM IST

Akshay Sawai

Online availability and watches with history are two key drivers to attract young customers, Omega CEO Raynald Aeschlimann believes.

We are finding young people are interested in new watches that have some sort of vintage appeal. We are not talking about simple reissues of classic watches: we are talking about modern watches that might reference the 1950s and 60s in their design, Aeschlimann said in an interview in the April issue of Monocle.

Man stepping on the moon was a giant leap for Omega. It was the official watch of NASA missions, including Apollo XI, when Neil Armstrong, Buzz Aldrin and Michael Collins flew to the silver disc in our sky. That was 1969. Half a century later, Omega still possesses the cachet of being the first watch ever worn on the moon, of being on the hands of Armstrong and Aldrin as they registered one of mankinds greatest achievements.

Our new Speedmaster watches are inspiring for people who werent even born when astronauts were wearing them on the NASA moon-landing missions, but they love the story and the history and the look, Aeschlimann said. Luxury is about roots and DNA and young people respect this.

Coming to the present, Aeschlimann said that having a digital presence helped when the COVID-19 pandemic forced them to close their stores.

We had the difficulty of dealing with 460 shops that were closed temporarily, he said. But we were ready with a digital offering because wed listened to what our customers had wanted in the past. You cant prepare for these things overnight; you cant just wake up in the morning and become creative or flexible it has to be in your DNA.

Nonetheless, Omega has invested in a flagship store in Zurich. It is a departure from luxury stores of the past, which were snobbish and where the product was in enclosures. The brand has emulated the Apple concept of letting customers touch and feel watches.

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Luxury is about roots and DNA: Omega CEO - Moneycontrol