Chopard x Time Avenue: The Balancing Act Of Diamonds And Gears

Chopard is known for its prowess both in the watches as well as jewellery segment. At an event hosted by Time Avenue, Bandra where some of the brand's most coveted pieces from the Alpine Eagle and L'Heure du Diamant collections from Chopard were on display, we caught up with Xavier Lasserre, International Sales Manager at Chopard to understand more about the brand and its diverse offerings.

“Chopard's collaboration with Time Avenue at this event underscores their commitment to luxury and precision in watchmaking. Their presence in India not only enhances the country's luxury watch market but also fosters a deeper appreciation for craftsmanship among enthusiasts and collectors alike. The event, with its distinguished guests and avid collectors, provided a platform to showcase Chopard's timeless elegance and innovative designs, resonating perfectly with the discerning tastes of Indian clientele”, says Nikki Rajan, Director At Time Avenue.

Talking about the recent collaborative timepiece - Jacky Ickx watch, Xavier Lassere said, “Jacky is a personal friend of Karl-Friedrich Scheufele, our company's leader, and a true legend in the racing world. Jacky Ickx is the only person to have won the 24 Hours of Le Mans six times, and he's still an active pilot. Their friendship began during the Mille Miglia in Italy when Jacky approached Karl-Friedrich Scheufele to service his Chopard watch. He invited Jacky to visit our Manufacture in Geneva, and from there, a partnership blossomed, fueled by their shared passion for classic cars and our collection of chronometers and chronographs.”

Next, we delved into Chopard’s manufacturing capabilities. Xavier said, “We have five manufacturing facilities and are nearly 100% integrated, producing everything from A to Z. We even have our own gold foundry, which is quite rare in the industry. This level of integration is challenging but gives us a significant advantage in serving our clients.”

In India, there’s an exciting market dynamic. While the overall industry sees a 60-40 split between watches and jewelry, how does Chopard fit in here? “At Chopard, we're closer to a 50-50 ratio. We've recently engaged with partners in Mumbai and Delhi to expand our fine jewelry presence. It's a gradual process, but we're seeing promising traffic and plan to enhance our communication efforts in this segment. Our expansion plans for India are ambitious. We currently have 12 doors across the country, with new openings planned for Chennai and Goa. We're also in discussions for Ahmedabad. However, we recognize the need for boutiques in Delhi and Mumbai, which is part of our future plans on a joint venture basis”, he further added.

Sustainability is a core focus for Chopard. Talking about their ethical gold commitment he said, “We're committed to using ethical gold, an initiative driven by our family's values. We're members of the Responsible Jewelry Council and avoid using any conflict diamonds. Our ethical gold sourcing ensures traceability, something that's not always possible when buying from banks. In fact, all our jewelry is now made from ethical gold. We've also launched a new steel called Lucent Steel in 2019, coinciding with the release of our Alpine Eagle collection. This steel is sourced from Austria and is made of 80% recycled steel from industries like medical equipment. It undergoes a double lamination process, resulting in better light reflection and scratch resistance.”

Many collectors are often drawn either to the dress watches or sports watches by Chopard. Talking about the market dynamic he said, “In terms of our collections, for men, our Mille Miglia line represents about 80% of our quantity in sports watches, while our L.U.C. creations cater to the dress watch segment. For ladies, our Happy Sport collection, featuring moving diamonds, is our signature line.”

Lastly, he explained the market strategies Chopard adopts to stay ahead of the curve. “We approach our market strategy globally, recognizing that our clients are often international travelers. We focus on protecting and nurturing our iconic collections rather than creating market-specific approaches. In fact, we find that many of our clients, including those from India, are incredibly knowledgeable about our brand and products, often more so than our sales staff, thanks to their engagement with our digital platforms and website”, he added.