The Real Time Show: Benoit de Clerck, Zenith's New CEO
Release Date: September 22, 2024
Hosted by Rob Nudds and Alon Ben Joseph, "The Real Time Show" delves deep into the intricate world of watchmaking, bringing listeners insightful conversations with industry leaders. In this special episode, Benoit de Clerck, the newly appointed CEO of Zenith Watches, shares his extensive experience, vision for Zenith, and perspectives on the evolving luxury watch market.
1. Benoit de Clerck’s Journey in Watchmaking
Timestamp: [00:51]
Benoit de Clerck begins by outlining his impressive career trajectory. Starting at Tag Heuer over 25 years ago, he immersed himself in the watch industry under the leadership of Christian Viros and Philippe Champion. His roles expanded geographically and organizationally, managing the Middle Eastern expansion for Tag Heuer and later, Richemont. At Richemont, Benoit held pivotal roles, overseeing multiple brands including IWC, Baume & Mercier, and Roger Dubuis across various regions such as the US and Asia.
Quote:
"I joined Tag Heuer, got immersed into the watch industry... then moved to Richemont where I opened subsidiaries in the Middle East and streamlined distribution in South America."
– Benoit de Clerck [00:56]
2. Managing Multiple Brands: A Balancing Act
Timestamp: [05:09]
Rob Nudds highlights Benoit’s unique experience of managing three brands simultaneously—IWC, Baume & Mercier, and Roger Dubuis—while based in Asia. This multifaceted role showcased his ability to maintain distinct brand messages and foster synergy among diverse watch lines.
Quote:
"Honestly was a great mental exercise as well... What helped me, I had the trust of the top management... and the trust of the local teams."
– Benoit de Clerck [05:09]
Benoit attributes his success to the trust bestowed upon him by top management and his ability to cultivate strong relationships with local teams. This trust enabled him to drive growth and maintain high performance across all brands during a period of expansion.
3. Navigating the Current Market Landscape
Timestamp: [09:26]
Benoit discusses the volatile and fragmented global market, exacerbated by geopolitical tensions and economic uncertainties. He emphasizes that luxury brands thrive on stability, which is currently lacking, making the market exceedingly unpredictable.
Quote:
"The world has changed a lot... wars are less than a mile away, and market performance is very erratic."
– Benoit de Clerck [09:26]
4. Strategies for Sustained Growth Amidst Volatility
Timestamp: [11:24]
In response to the tumultuous market, Benoit outlines his strategic approach:
- Caution: Ensuring responsible management to protect the company and its people.
- Factual Decision-Making: Relying on concrete sales data and performance metrics.
- Flexibility and Agility: Adapting swiftly to changing circumstances without overpromising.
Quote:
"Flexibility is very important. We need to be agile... protect what we have, protect the goodwill, protect the people."
– Benoit de Clerck [11:24]
5. Cautious Yet Innovative Product Strategy
Timestamp: [12:53]
Rob probes into how Benoit’s cautious approach influences product releases and brand communication. Benoit explains that Zenith's strategy involves balancing innovation with practicality, often delaying launches to ensure alignment with market conditions and brand values.
Quote:
"It's a mix of reducing production, postponing launches, and being smartly aggressive when necessary."
– Benoit de Clerck [13:23]
6. Discovering Zenith’s Rich Heritage
Timestamp: [15:21]
Upon joining Zenith in January 2024, Benoit was pleasantly surprised by the brand's deep heritage and authenticity. He reveals newfound aspects of Zenith’s legacy, such as the hidden river running through the manufacture, which underscores the brand’s unique identity and commitment to craftsmanship.
Quote:
"I thought I knew Zenith, but I was positively surprised by its authenticity and the treasures within the manufacture."
– Benoit de Clerck [15:46]
7. Sustainability: A Core Commitment
Timestamp: [20:29]
Sustainability is at the forefront of Zenith’s operations under Benoit’s leadership. He elaborates on various initiatives aimed at reducing environmental impact, such as recycling water within the manufacturing process, utilizing solar panels, and partnering with sustainable startups like Nona Source for recycled materials.
Quote:
"Sustainability is paramount for us. We owe it to our children and future generations to protect the environment."
– Benoit de Clerck [21:06]
Rob adds a personal touch by mentioning his use of Zenith’s recycled textile bag, highlighting the practical and impactful nature of Zenith’s sustainability efforts.
8. Product Development and Limited Editions
Timestamp: [25:42]
Benoit discusses Zenith’s approach to product development, emphasizing collaboration with collectors and journalists for inspiration. He highlights the delicate balance between innovative ideas and practical execution, ensuring that every release maintains Zenith’s high standards without compromising quality.
Quote:
"Our source of energy and inspiration comes from the manufacture, the team, collectors, and journalists."
– Benoit de Clerck [25:42]
When addressing limited editions, Benoit stresses the importance of purpose and strategic intent, ensuring that such releases strengthen brand relationships and uphold Zenith’s reputation.
Quote:
"Limited editions need a purpose and an intention. They should strengthen relationships and reinforce our brand's strengths."
– Benoit de Clerck [40:10]
9. Spotlight on Zenith Defy Extreme Diver
Timestamp: [32:19]
A highlight of the episode is the in-depth discussion on the Zenith Defy Extreme Diver, one of this year's standout releases showcased at Watches & Wonders. Inspired by the Defi Revival from 50 years ago, this model embodies Zenith’s commitment to quality and innovation.
Key Features:
- Robust Construction: Designed to be waterproof up to 600 meters, surpassing many competitors.
- Unique Open Back Case: Demonstrates Zenith’s technical prowess and fearless engineering.
- Sustainability Integration: Comes with recycled fishnet straps, aligning with Zenith’s eco-friendly initiatives.
Quote:
"We pushed the Defy Extreme Diver to ensure it was waterproof up to 600 meters, demonstrating our commitment to quality and technical excellence."
– Benoit de Clerck [34:39]
Rob shares his admiration for the watch, noting its elegance and advanced functionality, which have garnered positive market responses, including sell-outs in key regions.
10. Future Prospects and Zenith’s Legacy
Timestamp: [45:02]
Looking ahead, Benoit expresses his awe at Zenith’s ability to blend its rich history with contemporary design. As the brand approaches its 160th anniversary, he hints at continued revivals that honor Zenith’s legacy while pushing the boundaries of modern watchmaking.
Quote:
"Zenith has a very strong sense of identity and heritage. We remain true to who we are while innovating for the future."
– Benoit de Clerck [45:02]
Conclusion
Benoit de Clerck’s insightful discussion on "The Real Time Show" offers a comprehensive look into Zenith’s strategic vision, emphasizing sustainability, heritage, and innovation. His leadership promises a dynamic future for Zenith, honoring its storied past while navigating the complexities of the modern luxury watch market.
Final Quote:
"Zenith has been here for 160 years, and we are committed to remaining for another 160 years through careful strategy and unwavering quality."
– Benoit de Clerck [46:29]
For listeners eager to dive deeper into Zenith’s evolution under Benoit de Clerck’s leadership, this episode serves as an invaluable resource, blending rich industry history with forward-thinking strategies.