The year 2023 is undoubtedly the big year for Jaeger LeCoultre's Reverso flip series wristwatches.
Only in the first half of 2023, Jijia launched a number of new products of the Reverso Tribute Flip Series, including four new Reverso Tribute Chronograph Flip Series chronographs, two new Reverso Tribute Duoface Tourbillon Flip Series double-sided dual time zone tourbillon watches, and four new Reverso Tribute Small Seconds Flip Series small second hand watches.
In addition, Jijia also launched two types of Reverso Hybrid Artistica Calibre 179 flip series movement watches with extraordinary complex technology, two new types of Reverso One Precious Colors flip series bright color watches created by the Rare Crafts Workshop, and even two types of Reverso Secret Necklace flip series necklace watches.
Reverso flip series is one of the most recognized product lines of this Swiss high-end watchmaking brand at present, and it also has a good performance in the market. In the just released report for fiscal year 2022/23, the parent company of JIJIA, Swiss Richemont Group, mentioned that, as the landmark product of JIJIA, the Reverso Flip Series had a strong performance in the market in the 12 months ended March 31, 2023.
In 1931, JIJIA launched the first Reverso flip series wristwatch. This series of wristwatches is different from the mainstream round dial in the market. Instead, it stands out in the market with a square dial that can be turned on both sides. The design of the Reverso series wristwatch was influenced by the Art Deco decorative art prevailing in the 1930s, and its prototype design also followed the principle of "the Golden Ratio".
The "golden ratio" is a famous mathematical concept, represented by the ancient Greek letter "phi" (Phi), and is recognized as an aesthetic symbol. The golden ratio naturally exists in the universe, such as the spiral shape of shells, the arrangement of petals, the hierarchical structure of pine towers, etc. It can bring human beings an instinctive and beautiful sensory enjoyment, which also affects human creation.
Since ancient times, the "golden ratio" has been widely hidden in painting, design and architecture, such as Leonardo da Vinci's famous painting Mona Lisa, the Eiffel Tower in Paris, France, the ancient Egyptian pyramids, the Parthenon Temple in Athens, Greece, and the Bell Tower in Beijing. These human heritages, which contain the golden ratio, continue to inspire future generations to create new works. Today, the golden ratio is also widely used in the field of industrial design, which can be seen in various scenes of people's daily life.
In order to pay homage to the profound influence of this concept on its design, Jijia determined the brand theme of 2023 as "golden ratio". At the end of March 2023, during the Geneva "Clocks and Miracles" Advanced Watch Exhibition, Jijia created a huge exhibition hall inspired by the agora market in ancient Greece, with a full height waterscape set in the center, echoing the monument of the agora market center in equal proportion.
This waterscape uses holographic projection technology, combined with light, image and sound effects, to constantly tell the audience about the historical process of human defining the universal laws of aesthetics, as well as the birth journey of the Reverso flip series wristwatches. It is worth noting that Yuan Liwei, the managing director of Jijia China, disclosed to InterfaceNews that this holographic projection waterscape device will be exhibited in China in 2023.
In fact, as the official partner of SIFF of Shanghai International Film Festival, Jijia will bring this "The Reverso Water Curtain Music Show" in Shanghai on June 9.
2023 is undoubtedly a crucial year for JIJIA China team.
In the 2022/23 fiscal year, the professional tabulation department of Richemont Group realized a 13% year-on-year increase in sales to 3.875 billion euros. In the markets outside the Asia Pacific region, the watch business of Richemont Group has an excellent growth performance.
Richemont Group does not release the performance data of its individual brands. However, according to the analysis of Morgan Stanley, an investment bank, and LuxeConsult, a luxury research institute in Switzerland, it is estimated that the annual revenue of JIJIA in 2022 is expected to be 640 million euros, with a market share of 1.9%, which will continue to maintain its 14th market position in the world.
According to the statistics on the official website of Jijia, Jijia has 109 brand stores in mainland China, of which 21 are brand direct stores, and the rest are official cooperative dealers.
The mainland of China is already a single luxury market ranking top in the world, and continuous investment in it is one of the development strategies of many luxury companies today. With the joint investment of luxury brands, the service and experience of the domestic luxury market have also been continuously improved and upgraded.
There are also challenges in the process of mutual achievements. Yuan Liwei said frankly in the interview, "In fact, we have a lot of ideas and plans, but (before) because of the COVID-19 epidemic, it can not be realized."
In fact, in the second quarter of 2022, Jijia opened the brand's first flagship store in the world in Shanghai K11 Shopping Art Center, which is equipped with an interactive mobile wall, a special area for reverse flip series watches and an interactive strap bar.
In addition, Jijia also set up the Atelier d'Antoine in its flagship store. This is the first permanent Anthony watchmaker workshop set up by Jijia outside Switzerland. It is said that the furnishings are completely designed according to the layout of the Swiss Jijia workshop.
However, due to the repeated outbreaks in China last year, many people have not yet been able to come to the scene to experience the interactive spaces and the experience classes of the watchmaker workshop set up in this world's first flagship store.
Even so, Jijia still tries to get close to watchmaking enthusiasts and collectors to bring them an immersive experience. For example, in October 2022, Jijia opened The Stellar Odyssey Star Legend Advanced Watch Making Time Limited Experience Store in Nanjing Deji Plaza. In addition to displaying the classic Jijia chronometer and the new astronomy complex function chronometer, the event also featured installation art works, exclusive drinks, and the Stellar Odyssey starry legend theme watchmaking workshop.
The situation will become more positive in 2023. As the negative impact of the epidemic fades away, many luxury goods companies saw positive retail performance in the first quarter of 2023. Richemont Group mentioned in its financial report that in the first quarter of 2023, sales in the Asia Pacific region achieved a "substantial growth", which benefited from "China has relaxed its epidemic prevention measures and lifted travel restrictions."
It can be seen from the naked eye that luxury brands are gathering around China to hold activities in the new fiscal year, and each one is "rolling". To Jijia specifically, "this year, we will have a lot of ideas and actions in marketing."
Yuan Liwei told the interface news that this includes activities during the upcoming Shanghai International Film Festival in June, flash store activities that "pay great attention to experience", and artist cooperation related to the annual theme "golden ratio".
With the recovery of international travel, Jijia China is not only facing challenges from peers, but also from overseas tourism retail channels with more price advantages. In the past three years, many leading luxury brands have taken the opportunity to optimize the shopping experience and services of local stores to meet the consumption needs of Chinese who cannot travel abroad. But in Yuan Liwei's opinion, Jijia should continue to think about how to "better retain Chinese customers strategically", which includes optimizing the Chinese retail network.
Compared with many peers, Jijia, which has more than 100 stores, actually has a more extensive retail network, which is its advantage. However, the pace of JIJIJIA to open a store continues.
Only in May 2023, Jijia opened a new franchise store in the MIXC in Jinan and a new franchise store in Mall, a military merchant in Nanchang, Jiangxi. But Yuan Liwei stressed to the interface news that "our next step is not to open more stores, but to streamline (the retail network)."
She added, "We want to improve the experience of both dealer stores and (direct sale) boutiques, and open a second brand flagship store (in China) in order to improve the overall quality of the store."
