Lu Keqin, Vice President Of Breguet China: Exploring The High-end Watch Market Potential

As the originator of the tourbillon, Breguet has absolute right to speak in the field of complication watches. In China, where the luxury consumer market is gradually expanding, the brand already has three directly operated stores. Mr. Lu Keqin, Vice President of Breguet China said that even in the financial crisis period, Breguet has performed steadily in China and the potential of the high-end watch market is unlimited. Breguet 5839 Tourbillon Jewellery
‘The Ningbo store has a very complete range of products. For example, high-end jewelry series and writing instruments can only be seen in boutiques. In addition to a dedicated customer service center, the 275-square-meter store also has a video and audio system to play brand history and workshop craftsmanship. Waiting for the video, there are only two stores around the world. ‘Lu Keqin spoke quickly,’ Hangzhou also has our counter. Unfortunately, the location is too scarce and the area is limited. Do you have any special recommendations? This is also a very important market for us. ‘
Mr. Lu Keqin’s observation of customer changes is very careful. ‘Chinese consumers are still more cautious. Most customers like to buy watches with simple functions. Some consumers have gradually become savvy and professional, and they are particularly knowledgeable.’ Lu Keqin is particularly interested in some female customers, which naturally also It reminds me of the move by Breguet and other high-end brands to push complex-function watches for the women’s market at the Basel Watch Fair this year. ‘I think it has a lot to do with the growth of the economic power of Chinese female customers. In the past, it was probably men who bought watches. Gifts from friends or family, and most men’s eyes think that it is good for women to have some jewellery watches. But once they pay for themselves, women will never compromise on the details, and the design features are outstanding. They are both beautiful and worthy. From an investment perspective Judging from this, the mechanical movement of a watch is very important and often determines its value for collection. This is also a potential performance of the high-end watch market. ‘
As the originator of the tourbillon, Breguet absolutely has the right to speak in the field of complication watches and clocks, and there are also image advertisements showing its invention outside boutiques. But now the tourbillon is flying all over the market. This function, which was originally used to overcome the gravity and increase the accuracy of the watch, is also inaccurate because of some brand technologies. In the face of this situation, Lu Keqin also wondered: ‘I think that when consumers consider spending 1 million to 1.5 million, they must be watches that they like and represent the real craftsmanship. Many brands sell tourbillons, but they do not produce tourbillons. This is a big difference. Although many consumers today do n’t buy watches for accuracy, maybe to prove their identity, status or success, I still feel that they should buy some products with real value. ‘
‘I’m actually a very simple and traditional person. Life is not luxurious. I am big, my wrists are thick, and my big watch is suitable for me.’
Although the other person has been working in the watch industry for many years, I still have the opportunity to chat with Mr. Lu Keqin face to face for the first time. As the vice president of Breguet China, he said while adding a chain to his watch, ‘I have been wearing this watch for the past few years. Its design is derived from the movement of the pocket watch that year. Breguet’s early design style and craftsmanship made me think of my entire watch career and my life from time to time. There are a lot of things in my home that are not bought for decoration, but because they are meaningful, they carry some of my own. memory.’
Lu Keqin, Vice President of Breguet China
【Q & A with Lu Qin】
Q: In order to prove identity or status, some customers like to buy expensive things. What do you think about this?
A: For some consumers who do not quite understand the history and value of a brand, price is the only criterion he can judge. Generally speaking, expensive things will have more value preservation. Many people criticize them, but it seems normal to me. For example, I drive, but I do n’t know how to make a car. I drive the same. I spend more money looking for quality assurance. Watches now have multiple meanings. For timekeeping and identity, they are looking for a kind of happiness, aren’t we just trying to make happiness? Of course, if they are willing to take the time to understand the product, it is better.
Q: As a watchmaker, what kind of fun does this career give you?
A: Our discussion finally reached the meaning of life from market behavior (laugh). I rarely think about this issue, I just feel that my work is very enjoyable and I have invested a lot of time to understand the meaning of clocks. This field has both art and technology, and it is also related to machinery, which fits my taste. And I have worked in China for 20 years, which is a special experience. I think this career has made me reach a lot of people, such as stars, athletes, and people from all walks of life, which is particularly interesting. And it keeps my brain thinking, making my experience so rich and unparalleled.