You are the CEO of Hublot for one year, what would you change?

First, I would figure out why my sister brand Tag Heuer is kicking my ass. Yes, they are a heritage brand, but I would go for the same younger market. I would launch a new line of "affordable" watches that are more traditional but still have the look of Hublot, to try to cut into the Tag market share and maybe pull some off of Tissot too. Tag appeals to the younger audience because they are truly "affordable luxury." I would also try to reposition myself and put some marketing behind my higher end to go directly after Richard Mille, who makes big ugly watches just like I do but is more of a "flex." I would also get back into the Formula 1 game, securing a sponsorship with one of the teams that currently doesn't have a watch sponsor or trying to pull one of the three teams that Richard Mille sponsors. I would also consider sponsoring other race teams in Indy racing and maybe Moto GP. I would also sink some money into YouTube, TikTok influencers, and other social media to try to change the perception on those platforms that my watch is crap and overpriced. That's where I would start, but one year isn't much time to help a brand that is so unpopular with so many watch enthusiasts. 

I would immediately bring on Thierry Nataf as the eminence gris, and do whatever he says to do, given how cool he made Zenith, with all the falconry and ancient Egyptian cosplaying he was into!

1. Never make another Big Bang
2. Hire Nico Leonard as marketing Director
3. Fail at #2 
4.  Hublot x Tag Heuer Automatic Formula 1 watch

Let a corporate raider in the back door

"we don't make bad watches, we just price them wrong" I would say.

There is nothing wrong with an ETA movement, the design is decent. The problem is the pricing.

You can't have prices like those of Rolex and the finishing of 100 bucks Seiko.

Ps: dont kill me, I love seiko

I think that a crossover between brands would allow Hublot to gain traction with a new market and maybe the grudging respect of the watch world. LVMH is not structed like Swatch or Richemont. Those groups have many watch brands that each target a different tier of the watch market. Tissot does not poach from Omega. Montblanc isn't blocking a Cartier purchase. LVMH has many fashion brands, but their watch brands are more like on different islands than different tiers. There would be no interest in a Zenith or Tag collaboration with Hublot.

So, Hublot should attempt to gain traction with the underserved women's or unisex watch market. Louis Vuitton makes surprisingly pretty watches, but they are as thick as a hockey puck. Hublot should collaborate with Fendi and make a watch that can be worn by a normal sized human. Also, wouldn't you look at a casual field watch that was a Birkenstock/Hublot collaboration?

1. Straighten out the bolts on the bezel. Absolutely annoying to look at.
2. Drop the MSRP to actual market price.

2A. Their new market is Tag/Bell and Ross. 

They would absolutely kill in the segment.

• Franchise and license the hell out of the bands. Currently you can get almost unlimited things to fit an Apple Watch. It will be the same for Hublot.  Burberry tartan, leopard print (or real leopard, whatever), rainbow metallic bracelets, hemp, cactus leather, goofy ones that have art printed on them, big holey rally stuff, anything you want.
• Mickey Mouse character watch with proper cartoon hands. Maybe some other character instead, like Felix/Fritz the Cat or Dogbert.
• Martha Stewart is new brand ambassador, along with maybe Wes Anderson.
• Hamilton-level product placement in movies (and television) except it will always be on dapper villains.
• Massive audio/visual campaign so that everyone knows how to pronounce it properly. "Do you Hublot?" 
• Hubot boutiques to have snooty doormen that get A&F level criticism for declining heavyset/old/ethnic customers.
• Similarly, boutiques will always play classical music to keep the riffraff out. 
• Hire Kevin O'Leary to publicly badmouth the brand and say he'd never wear an Hublot. Maybe Harry and Meghan too. Forget to pay them.

That’s a good shout. I agree with the pricing and the marketing, as annoying as it would seem, but maybe targeting some of the same markets as other brands within LVMH, especially the fashion brands like LV, Fendi, etc… could do wonders for the sales.

I disagree with the “kicking our ass”, they only make around 20m CHF more in turnover than us with a significantly higher number of units sold, so it pretty much establishes our position and market compared to them: they do entry-level and volume, we do luxury and exclusive. If we dived into their pool for a bit would it be worthwhile? Would we carve away at the Breitling market, and do we want to?

Definitely agree with the charm offensive and use of social media.

I appreciate 12 months isn‘t long but you’ll breeze through them. Enjoy the bonus 🥳

So you would basically keep the seat warm for someone else - it’s certainly an option. 

I‘m not sure any of those are particularly helpful, but I can see some of the logic behind them.

The Big Bang is one of your big draw pieces, it makes little sense to kneecap your product line with nothing in the wings. Would you promote the Classic Fusion or E, or try and rush another product through development?

Hiring one of your main critics as your marketing director would also seem bold (ludicrous?). You admit that in step 3 it would fail, so the fallout from this venture would leave some scarring to the brand image.

4 might have the makings of a killer idea on paper, but the joining forces of two polarising brands might actually not result in “two negatives making a positive”. Perhaps if something along the lines of the F1 line with a solar quartz movement, or lower end Sellita movement that could entice some into the mid-tier might be more beneficial?

And you get fired before your probation period is over 😂

<insert coin to continue>

At the risk of being a d***, can I ask a question: do you think Hublot finishing is particularly poor? What in particular do you think they get wrong? I hope this is a fair question to ask?

How about a lower entry point model (as above)? 

ETA movements are solid, but Swatch Group won’t let us have them, so maybe we move to Sellita or Soprod? Same result. 

I would certainly hire you as council 😂

I like the fact of leveraging market positions of other non-watch brands within the LVMH portfolio to attack new markets, and possible collabs. I suppose it’s no different from the mass sponsorship campaign they do - ”wherever our customer goes, we must go” (to paraphrase Biver). 

1- Look into QC - ok good call. I would ask the same question I asked above, but the screws and their orientation need a review.

2 - ok, perhaps maybe do a Seiko and keep everything around JDM prices globally and then gradually raise the prices once we’re all hooked? I think a small price drop could be adopted to remain aggressively competitive.

2A - and maybe if there was an entry level model that could really carve a niche, similar to the Tag F1? Thing is, Tag are also LVMH, so do we really want to upset them?

Not quite.  At least Hublot is offering something different for all that money.  Portnoy pissed people off because the watches look like regular old watches and have regular old watch movements but cost $1500 more.  So while I may think Hublots look like diamond-studded vomit, at least they don't look like everything else.

Yes, Hublot will win the watch wars as Taco Bell won the franchise wars!

This is a good idea, start using Hublot as a proprietary eponym, like Band-Aid, Xerox, Kleenex. All watches are Hublots now. I'm wearing a Vaer field Hublot today.

You see it all over, Nico is funny however I think when you have such a strong opinion and a huge social media platform then it can have huge consequences. I’m sure there are some very hard working people at Hublot. He also does the same to GS. My guess is it’s sensationalistic banter but the problem is it can turn real very quickly.

It does - even on here. What I often find particularly galling is when people wade in and just repackage some of these hot takes, but it’s not from a place of honesty if you have never touched, or tried one on. 
Edit - I should probably add, it’s ok to say you don’t like the look, but that only goes so far as a critique. There are watches you like and watches you don’t, and yes, the design of Hublot is an acquired taste, but 50,000 units a year, they clearly have an audience.

I had my Vaer Hublot on the other day, but I switched to the Cartier Tank Hublot as we're going out for a fancy meal at Taco Bell tonight.

For me, with only one year, it would be all about marketing.

I would lean heavily into the 'bad boy' image and the fact we are the new guys (ladies).

And I would go straight after Rolex. No messing.

We are new. Sexy. Rebellious. For people who choose for themselves and don't care what you think.

Rolex are dated. Old. Stuck in the past. Yesterdays choice. Depending on things that happened in distance memory, some of which were even lies.

A good ad agency could absolutely nail this and should relish taking on the monster that is Rolex. I'd want it witty and clever.

Our current market doesn't even know who Nico is, so he doesn't concern me in terms of retention of sales there. 

Another market who has no idea who Nico is (or even who Hublot is) is the female non-watch enthusiast. I'd go hard after this group and market the watch next to high fashion and jewellery. Again, sexy, rebellious, for the forward thinking leader types, not the dated, sheeple, middle-management types who buy Rolex. 

When you celebrate a promotion, you buy a Rolex. When you celebrate your 5th year as CEO, you buy a Hublot. 

That's the image I want.

If we want to improve standing with the watch enthusiast world then I would invite Nico for dinner and have a little chat. 

We could run targeted adds along the lines of....

The specific language is important as it is a bit 'shocking' so makes you take notice and also mirrors Nico.

Nico would love this as his views would sky rocket. Nico and Hublot could play-act a little feud and banter, and then it could end with him saying 'Actually, now they have this new CEO things have turned around' which would allow him to 'change his mind' and save face with subscribers.

Also: Party boat.

Nice. Just a good old-fashioned marketing blitz. Nico who?

I’m curious to know more about this  dinner with Nico scenario. Is it a “have a polite little word in his ear” type scenario, or is it friendly? 

I suppose if you engage with Nico you would need to be careful, as it could backfire spectacularly. 

Dinner would be super friendly.  I'm a rebel, but not a gangster. 😁

Nico would be utterly insane to turn down a collaboration. The world of Hublot is huge compared to the tiny watch enthusiast community.

Plus, I think Nico would be up for a bit of banter anyway.

Honestly, his influence in the grand scheme of things is so tiny. He's probably not worth worrying about.

I like your reasoning. 

You have a place on my board.

Before TAG purchased Hauer their watches had more prestige ( opinion ) Hublot are to my sense of ascetic, bloody ugly . Business profits and projections don’t enter into fantasy . I am not asking anyone to accept my premise . It is pure indulgence. I wish Hauer exist and start making watches  as independent from TAG like Seiko and GS . Satisfaction digging into my mind ? Or more dillema not sleeping ? It’s fun not seriously thought out ok 

1. adjust the bolt
2. lower the price
3. more humble marketting i guess

Ublo …… for a start advertising how to pronounce ir like everyone can say ; rishharrd mille love them or hate them . I was trite and simplistic in my original blurb because , I can’t take their watches seriously.

1. Fire the entire design team.
2. Change the brand name along with launching a new line of watches that aren’t overpriced fashion brand equivalents.
3. Profit.

1. Who have been true to the brands design language since 1980. Harsh, but ok, R&D into a new line or two.
2. What would you change it to? What would the new watches look like? I'm not sure that fashion watch slur is justified, most people seem to call them APRO or RM rip-offs. If people want to buy Hublot, and are into Hublot, why would you wish to alienate your key customer base?
3. Not guaranteed when you make massive changes. I'm not sure the board would like such a drastic change in a short period of time.

Interesting plan though.