Why Did Tiago Hoya, A Conservative Watch Company, Choose To Open A Shop On Tmall?

According to the world clothing shoes and hats net,

Swiss watch brand of group

Tmall has recently announced its entry into Tmall, which is also the first high-end watch brand of Tmall to open flagship stores on its platform.

Why does the "conservative" watch company choose to shop on Tmall?

Pan Jinji, general manager of Greater China, admitted in an interview.

The Department's "mistakes" in the Chinese market: we sell very well in the US, Australia and other markets, but China is not able to do so.

In fact, tiger Heuer did not have a high market share in China.

Pan Jinji said this is because the brand side initially wanted to challenge the price of $5000-10000.

"The price is a bit awkward, and the threshold is too high for young people who want to get started.

And the price range is too wide. Others may not buy us at the same price.

"He said that for the entire LHMH group (tiger Heuer was acquired in 1999), tiger Heuer's position is to become the first watch for people to buy watches and watches.

After clearing this goal, the company adjusted its watch price to $1500-3000.

This adjustment is global. In March 2015, tiger Heuer announced a 8% cut in the mainland and cut its price in Hongkong by 3%-40%.

In addition, in order to catch the eye of young people, in July of the same year, tiger heyday announced that Li Yifeng became the brand ambassador of the Chinese market, carrying out the younger marketing policy of the group and taking the millennial generation as a new target group.

And its spokesman in China is Chen Daoming.

"Our main target audience is 25-35 years old."

Pan Jinji said.

According to Tmall data, the platform now has more than 60% users.

Pan Jinji said modern young people's consumption habits are mostly online shopping.

"The electricity supplier sells well, but don't think we are just selling it."

He gave an example to reporters. During the Spring Festival this year, the company produced ten products and made a wave of O2O activities. According to the requirements, consumers need to pay online and then pick up the goods from offline stores.

Later, however, it was found that half of these orders were cancelled because the customer's city had not yet opened a physical store.

Such information will play a guiding role in the future of heuya's opening up in the mainland.

Jean-Claude Biver, head of the LVMH watch department, said earlier that when tigers were asked to expand the Chinese market against the trend, she said, "when other competitive brands are considering shrinking the market, they should intensify their efforts to promote and invest. This is a strategic idea.

Because when someone else is going backwards, if I go a step further, the difference between us will be bigger in a moment. "

In 2016, Hoya became China's national space agency, China's national football team, and the attention of Manchester United and Premier League sponsors in China.

All these will help brands gain more attention and growth in China.

In his view, "China's economy, including the luxury industry, will continue to flourish in the next 20 years.

Because China's overall economic slowdown is a process of integration rather than a real indicator of economic stagnation and decline.

Increasing the investment in the Chinese market obviously makes the house "rejuvenation".

After two years of adjustment, compared with the downturn of the entire Rui watch industry, the sales of Hoya watches increased.

In 2016, tiger's revenue grew by more than 10%, compared with 10% over two years ago.

Pan Jinji told reporters that conservative sales are expected to reach a high number of units this year.

It is worth mentioning that Heuer is the first to enter the field of smart watches in the traditional watch company. In November 2015, Heuer launched the first smart watch Connected Watch.

Bloomberg reported that Connected watches have received more than 100 thousand orders worldwide.

What is more exaggerated is that in order to resist the crazy consumers, Hoya had to suspend the online sale of the product, and only retained physical retail.

This makes the company full of confidence and expresses that more smart watches will be launched in the future.

Due to the use of Google map system, Heuer's smart meter has not yet entered the Chinese market.

Pan Jinji revealed that a smart watch suitable for the Chinese market is now being tested and is expected to be launched this year.

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