Podcast Summary: The Real Time Show – "Squale's Andrea Maggi Talks To Alon About The Brand's 65th Anniversary"

Host: Rob Nudds & Alon Ben Joseph
Guest: Andrea Maggi, Owner of Squale Watches
Release Date: December 29, 2024

Introduction

In this captivating episode of The Real Time Show, host Alon Ben Joseph welcomes Andrea Maggi, the esteemed owner of Squale Watches, to discuss the brand's illustrious 65-year history. The conversation delves deep into Squale's origins, its enduring legacy in the watchmaking industry, and Andrea's vision for the future.

Andrea Maggi's Personal Journey and Connection to Squale

Andrea Maggi shares his lifelong connection to watchmaking, tracing it back to his family's involvement in the industry. Born into a family deeply rooted in watchmaking, Andrea recounts his childhood experiences spending holidays in Neuchâtel, Switzerland, where Squale was founded.

Andrea Maggi [01:33]: "I was born between Squale, between watches... managing the brand for the last 20 years has been an exciting experience."

He emphasizes that his upbringing was steeped in the traditions and challenges of the watch business, which shaped his dedication to continuing and revitalizing the Squale brand.

Evolution of Squale: From Distributor to Independent Brand

Andrea elaborates on Squale's transformation from a watch factory specializing in diving watches to a renowned independent brand under his leadership.

Andrea Maggi [10:02]: "When Mr. Von Buren wanted to retire, my father acquired the company, and we moved the headquarters from Neuchâtel to Milan."

The acquisition marked a significant shift, with Andrea eventually becoming the sole owner by relocating back to Switzerland to maintain the brand's heritage and ensure meticulous watchmaking standards.

Squale's Heritage and Relationship with Van Buren and Blancpain

A pivotal moment in the discussion revolves around Squale's historical collaborations with Van Buren and Blancpain, two giants in the watchmaking world. Andrea highlights Squale's role as a case manufacturer and its integral part in crafting legendary diving watches.

Andrea Maggi [19:48]: "Squale was the beginning a watchmaker, a case maker... collaborating with Van Buren and Blancpain was natural as we were all connected within the watchmaking community."

He explains how Squale's quality and reliability established it as a hallmark in diving watches, leading to co-signed dials that symbolized authenticity and precision.

Production Quality and Craftsmanship

Andrea passionately discusses Squale's commitment to quality, emphasizing their in-house control over the assembly and meticulous selection of materials.

Andrea Maggi [35:48]: "We have complete control of every single part of the watch... from the dial and hands to the movements."

He underscores the use of premium materials like Grade 5 titanium and sapphire crystal, ensuring that Squale watches offer exceptional durability and aesthetic appeal at competitive price points.

Market Presence and Global Reach

Transitioning to Squale's current market dynamics, Andrea delineates the brand's primary markets, noting a strong presence in the United States, Northern Europe, and emerging regions like Eastern Europe.

Andrea Maggi [38:20]: "Now we have a distributor in Italy, but our best market is the United States, followed by countries like Sweden, Norway, and Germany."

He acknowledges the challenges in the Southern European markets and outlines strategies to bolster Squale's visibility and sales in these regions.

Squale's Unique Selling Proposition and Pricing Strategy

A significant portion of the discussion centers on Squale's pricing strategy, which balances high-quality craftsmanship with affordability. Andrea reveals that Squale offers features comparable to luxury brands at a fraction of the price.

Andrea Maggi [26:52]: "We use the best steel, Movado movements, and sapphire crystal, yet we keep our prices reasonable."

This approach has allowed Squale to grow rapidly while maintaining a loyal customer base. However, Andrea also notes the challenges posed by fluctuating exchange rates and the need to adjust prices without compromising quality.

Future Vision: Sustaining Legacy and Expanding Reach

Looking ahead, Andrea shares his ambitious vision for Squale to become a cornerstone in the watchmaking history and expand its global footprint.

Andrea Maggi [40:22]: "I would like Squale to be on the map in 80% of the countries in the world... making it a significant stone in watch history."

He expresses a desire to maintain the brand's heritage while embracing innovation, ensuring that Squale remains relevant and revered in future generations.

Succession Planning and Legacy Preservation

Andrea touches upon the importance of succession planning for Squale's longevity. While his children are currently too young to take over, he envisions a future where dedicated team members who embody the brand's values will lead Squale forward.

Andrea Maggi [42:58]: "I am thinking about succession for the future... I have people here who have started working with me early on and share the same passion."

This strategy ensures that Squale remains a family-oriented and passionately managed brand for years to come.

Challenges and Market Dynamics

Discussing the hurdles faced by Squale, Andrea identifies economic instability and market saturation as significant challenges impacting sales and brand growth.

Andrea Maggi [45:14]: "The market is more a fight this year because of war and the smell of the world... selling a watch is selling emotion, and current global fears affect consumer behavior."

He emphasizes the need for strategic, careful decision-making in marketing and operations to navigate these turbulent times without compromising the brand's integrity.

The Enduring Appeal of Mechanical Watches

Andrea passionately defends the relevance of mechanical watches in an increasingly digital world, believing that the tactile and emotional connection they offer will sustain their popularity.

Andrea Maggi [48:19]: "People want to touch something reliable... the soul inside a mechanical watch gives a different essence compared to digital displays."

He is confident that future generations will continue to value the craftsmanship and emotional resonance of mechanical timepieces.

Collaborations and Brand Integrity

On the topic of collaborations, Andrea expresses a selective approach, prioritizing partnerships that align with Squale's heritage and values.

Andrea Maggi [50:19]: "Collaborations must be carefully selected to maintain the value of the watch... we are working with entities like the Italian Marina Military and Singapore Army Forces."

This strategy ensures that any collaboration enhances the brand's reputation and resonates with its core audience.

Conclusion

As the interview concludes, Andrea Maggi reiterates his commitment to maintaining Squale's legacy while steering the brand towards a promising future. His unwavering dedication, combined with a deep respect for Squale's heritage, positions the brand to continue thriving in the competitive watchmaking landscape.

Andrea Maggi [52:32]: "Thank you, Alon. I hope listeners enjoy this time and appreciate the soul and passion behind Squale."

Alon Ben Joseph expresses gratitude for Andrea's insightful contributions, highlighting the profound connection Squale has with its passionate community.

Notable Quotes:

• Andrea Maggi [01:33]: "I was born between Squale, between watches... managing the brand for the last 20 years has been an exciting experience."

• Andrea Maggi [10:02]: "When Mr. Von Buren wanted to retire, my father acquired the company, and we moved the headquarters from Neuchâtel to Milan."

• Andrea Maggi [19:48]: "Squale was the beginning a watchmaker, a case maker... collaborating with Van Buren and Blancpain was natural as we were all connected within the watchmaking community."

• Andrea Maggi [26:52]: "We use the best steel, Movado movements, and sapphire crystal, yet we keep our prices reasonable."

• Andrea Maggi [40:22]: "I would like Squale to be on the map in 80% of the countries in the world... making it a significant stone in watch history."

• Andrea Maggi [45:14]: "The market is more a fight this year because of war and the smell of the world... selling a watch is selling emotion, and current global fears affect consumer behavior."

• Andrea Maggi [48:19]: "People want to touch something reliable... the soul inside a mechanical watch gives a different essence compared to digital displays."

Final Thoughts

This episode offers an in-depth exploration of Squale Watches' rich history, Andrea Maggi's personal journey, and the brand's strategic vision. Listeners gain valuable insights into the challenges and triumphs of maintaining a legacy in the ever-evolving watchmaking industry. Andrea's passion for quality, heritage, and innovation underscores Squale's enduring appeal and promising future.