A Tale Of Passion, Resilience And Revival : Marking The Hours With Patrik Hoffmann At The Helm Of Favre-Leuba
6 min read
At the peak of the quartz crisis in the 1980s, when naysayers had written off the watch industry, a young Patrik Hoffmann set out to make his career in the field of horology. Joining a much truncated team of around 25 people at Oris, Patrik has seen it all. Be it the fall of Lehman Brothers in the United States or living in Malaysia during the Asian crisis, Patrik has both literally and figuratively stood the test of time. And today, he has been assigned the Herculean task of bringing back time as he sets out on another challenge: the revival of a legendary brand, Favre Leuba. In an insightful chat about his incredible journey, Patrik unearths a treasure trove of his experiences within the industry giving us a glimpse into his lifelong passion of being a watchmaker.
As our conversation began, Patrik introduced us to some fascinating timepieces from Favre Leuba's history. Among them were collaborations like the Patek Philippe Calatrava x Favre Leuba, an IWC x Favre Leuba, a Zenith Favre Leuba, and even a special Bovet edition, as Bovet was owned by Favre Leuba in the 1940s. This certainly set the mood for our conversation.
After a two decade long career at Ulysse Nardin, what Patrik finds most puzzling about the present time is the fast paced nature of the watch industry. “Communication has changed a lot since the 1980s and so has the speed of developing new product. When I first started working on the in-house movements at Ulysse Nardin, we would typically work on a four to six year timeline for new movements. Now, it’s more short lived. I’ve realized that numbers matter a lot more now than the creative liberties that existed earlier. That's a little sad, because at the end of the day, a product like a watch is rooted in passion. The industry thrives on creativity and bold risks. If a manager has to report on numbers, that manager takes lesser risk. And if there's less risk, there's less creativity.”
When a luxury brand such as Chanel acquired 25% stake in independent watchmaking brand MB&F, it sent shockwaves across the industry, leaving one wondering if this would dilute creativity. Patrik however, denies this. “I think this might be a smart move. Since the independent brands sell only a part of their stake, they still retain their independence. This allows them to gain funding, thus giving them a wider canvas to let their imagination take flight.”
Switching gears to his latest appointment, the resurrection of a brand as iconic as Favre Leuba is bound to incite some nerves. But Patrik is confident that he can revive the brand’s past glory and reinstate the same respect Favre Leuba commanded prior to the quartz crisis. If we were to speak about personally, I’m pretty sure not just our fathers but maybe even our grandfathers might have had a Favre Leuba watch in their collection. Such was the status enjoyed by the brand. “We are going all out with the launch. We want to give the message that Favre Leuba is neither a micro nor a niche brand. This is why we have set an ambitious task of 22 SKU’s spread across three families within a short span of 10 months.”
Being a trendsetter in its heyday, Favre Leuba enjoys a rich history of archives that can easily pass off as a vintage collection. But just tweaking a few details and re-positioning older models would be the easy way out. “We have revisited some of the brand’s archives and taken inspiration from them, however going into the future, we need the handwriting of the new management. We cannot remain in the past forever and so we want to create a brand that contains the DNA of Favre Leuba and elevate it. We respect the audience’s updated tastes and want our consumers to resonate with the brand. So it's kind of a mix of revival, renaissance and the future.”
Favre Leuba was once seen primarily as an instrument, but will that perception remain? “To me, every watch is an instrument, especially a mechanical one, but it must also be wearable—and that’s where things have evolved. At the end of the day, you can’t ignore certain market trends while staying true to the brand’s DNA. Favre Leuba has a rich and vibrant history, so you'll notice vintage elements in some of our collections, like the Sea Sky chrono. Our goal is to offer a blend of revival, renaissance, and the future—catering to what today’s consumer desires."
In India, Ethos has partnered with Favre Leuba as an authorized retailer where the watches will be available. Indian company KDDL has invested in Silver City Brands, the group that owns Favre Leuba in Switzerland, giving these watches smooth access in India. “This can be particularly beneficial to Indian customers as they can not only buy watches from Ethos but also service their older Favre Leuba timepieces from them.”
When you have a career in the watch industry for more than thirty years and have worked with some of the best brands in the world, your collection is bound to be spectacular. Elaborating on his personal collection, Patrik shares, “I can tell you a little secret here. I try to collect each limited edition watch that comes out with a number 80 or 1980 because that was the year when I started my career with Oris. I naturally have some Ulysse Nardin pieces in my collection as well. I also have a Rolex because for certain occasions, you just need a Rolex and a very special Swatch 51. This certainly raised eyebrows but for me, it is such an industrial piece, which is so important because it was also produced in Switzerland in a completely different way. It's more than just marketing.”
Giving his advice on people who are looking to start a watch collection, Patrik says, “I think the best advice I can give is buy what you will wear. It's very sad if somebody collects watches just for the sake of collecting. It needs to be worn and enjoyed. Another mistake I see people make is buying a watch from a brand because they have been told that it is a rare timepiece. I feel very sad when I hear such stories.”
In conclusion, Patrik has witnessed the evolution of the watch industry, navigating its highs and lows, including the turbulent quartz crisis. His work stands as a testament to the success many brands enjoy today. As a visionary, he recognized the potential in India over a decade ago, and now, India has become one of his most exciting and dynamic markets. His foresight and leadership have played a key role in shaping the future of the watch industry, particularly in this emerging market.
