CEO of LVMH’s watch division Jean-Claude Biver is an icon in the watch industry. Having transformed luxury Swiss watch brands Blancpain and Omega, he is someone that understands watches and how to market them like no one else.
I had a chance to touch and play with the $5K Hublot Big Bang Referee at Baselworld last week, it’s a special smartwatch created in a limited edition of 2018 pieces for this years Russia World Cup.
In the insightful interview from Hodinkee, Jean-Claude Biver talks about the luxury Smartwatch market. The key takeaway from me is that $5k may seem like a lot for smartwatch, but buyers at this level are not looking at this smartwatch as a piece of consumer electronics. Its niche, just like many many other Swiss brands that sell novelties for tens of thousands of dollars and have loyal customers. The difference here is that you have a core footballer audience to whom $5K is small change, and having something different and limited in today’s fast-paced consumer culture, its worth every penny.