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The Real Time Show
Talking French Luxury And Manufacture Movements With Hugues Souparis, CEO Of Pequignet
00:49:34
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Foreign.
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This is David Boshe, the Real Time Show's resident provocateur. I'm back for another solo episode, and the reason I'm back is the same reason that I was hosting solo the last time. We're talking French watches. And not only are we talking French watches, I think we're talking about what you could probably call the pinnacle of French watchmaking at the moment. But that is Pecinier. And not only are we going to hear from Pecinier, we're going to hear from its CEO, Mr. Hugues, and we're going to hear from him at the Pecignier boutique. So I think this is a first for the show. They're going to show us some watches on camera. So if you're listening to us via podcast, please check out our YouTube channel. The last thing I'll say before turning it over to him is that unfortunately we're on webcams. The picture quality is not great, but hopefully you'll see enough. The want to go to their website and maybe even check out some Pekinge watches in person. So, Hug, thank you so much for joining us here today.
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Thank you for inviting. It's a pleasure for me.
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Fantastic. Fantastic. So what I want to do first is cover a couple of things. The first is perhaps, I guess I'm not really sure which one to start with. I'll let you choose, but I want to cover the history of Pekinye, your history, and how you came to be running this particular brand.
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Okay. It's quite a long story, but I will do my best to make it short. So Pekinier is a company that's been created by Mr. Pekinier, Emile Pecigne in 1973. At the beginning, Pekinier was essentially a watchmaker. I will qualifier stylish watches. They were using systematically Swiss movements, quartz or mechanical. A lot of women designs. Pekinier was probably one of the first brand to introduce special forms in the watches dedicated to women. You know, before Pekinier, most of the women watches were just male watches a little bit smaller. Pekini was the first one to make a sort of fusion between watches and jewelry. So the Pekini wedges were very nicely designed women watches at the beginning. And then of course he developed also male watches and that lasted up to 22,004. He sold the company because he wanted to be retired. And also he had another passion which was horses. So he decided to concentrate on horses and sell the watch activity and he sold to Mr. Liebengood. Mr. Liebengood was a Watchmaker, son of watchmaker grandson of watchmaker so it was passionate about watches. And he decided to transform Pekinier from a stylish fashion watchmaker to a manufacturer. And it took about five years to make this transformation. And in 2010, the, the first internal movement, the Calibre Royale, was launched. And Calibre Royale is really still one of the trailers of the company. It is a movement with complications. We have the jumping date, we have the moon phase, we have 96 hours of power reserve. So it's a very nice movement. All the. What is very characteristic about the Caliber Royale is that all the complications are integrated. So Caliber has been constructed around the complications, while most of the movement with complications, you have a base motor and then after you pile the complication on top of it. And for the calibre rail, it's all integrated from the design beginning.
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So I just, I'm sorry, I just want to stop you there because I want to tell listeners I actually own a Kelly Royale. It was the watch that helped me get married to my wife. So I can tell that story some other time. I can, I can confirm it's a very beautiful watch, but I want to stop you there because as you said, picking, yes, had a complicated history, but that Calibre Royale, the development was actually quite difficult financially for the company. I think from what I understand and, and if I'm also understanding correctly, that's kind of what led you to take possession of Pekinier. Correct. Is some of those difficulties or am I wrong there?
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Yes, I mean, but that again is about 10 years story between 2010 when the Caliber Royale was launched and 2022 when I arrived in the company. So in 2010 when they, they launched the, the Caliber Royale, it was a fantastic caliber, but it, it was not 100% stabilized. And so Pekinier basically launched the Calibre royale and nearly 100% of the calibre came back for repairs. So that put the company into really difficult financial trouble. So some financial people came there and tried to save the company. It took about few years and they could not save the company. So the company was declared bankrupt in 2017. In 2017, so four employees decided to save the company. So they bought for virtually nothing the company in 2017, and eventually they managed to save the company. But by reducing drastically the turnover, concentrate on a few, few watches, concentrate in a few distributors, reduce the number of employees. So between 2017, 2022, when I arrived, the company was relieved with a minimum of turnover, but financially stable. And so then I came in order to help the company to restart, to go again into a growing phase. So this is my role in the company is to push this company to regrow again, to export again and to develop new models. So the goal for the company now is to become one of the leading independent watchmaker in Europe.
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No, It's a fantastic answer. I think you've said extremely clearly the very phases, the phase of the company. So it started, as I think we can say a fashion watch and jewelry brand, pivoted to high horology, had some trouble, stabilized, and now you're here to take it to the next level. So I've got a couple of questions now I want to follow up with. The first is related to your personal involvement in this. Because I was speaking with your colleague Natasha when we were setting this up and it was, it sounds to me like your background actually isn't watchmaking, but you have this personal. You have a personal mission to save French artisanal crafts. Is that what I understood correctly? I mean, what led you to decide to take on this, this challenge?
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Well, not exactly Artisana, because I am more an industrial guy than an artisan. My past is in a very special device which is holography. I don't know if you know what holography is. At the Beginning in the 80s, the holography was a new technology based on laser interferences. Which with the holography we could develop large three dimensional images mainly for advertisement or communication. Then after it turns that holography technology could be used to protect documents from counterfeit. Because one of the sites effect of hologram is that the colors are not stable. You know, you make a sort of three dimensional photo, but those colors are in the rainbow range and never stable. And that characteristic is extremely special because it cannot be printed. It can be duplicated with special methods but not printed. So not scan, no print, no color photocopy. So in that case you can not duplicate easily. So it was used from the end of the 80s as a security device. First on credit cards, then after on passport, ID documents up to banknotes. And so I started holography in the 80s. Then I was one of the pioneers in transforming this holography into a security device. I created a company at the time and this company became eventually one of the world leader in this field. We created the hologram for the euro banknotes. And at the end when I sold the company, we were protecting more than 120 countries security documents. And I was really the world leader in the application of passports or 50% of the passport in the world, including Chinese passport, where using our technology. So it was. Yeah, I mean, I was one of the only company in Europe, I think to produce very large volume products and to sell that, to export and to sell in China. So that was quite fun. And so I sold the company in 2019 and then I could just invest in two companies and then be just an investor. I don't like to just sit back and see other people playing with my money. I like to be an entrepreneur myself. So I decided to create a small group of companies. The group of companies name is Maison et Manufacture. Maison et Manufacture is dedicated to agglomerate a few small or less small companies, but with characteristic that we create and produce products in France. Because France was at a time one of the world leading country in terms of high tech, in terms of production of cars, of rockets, of whatever you could produce that in France. I mean, you had very strong French industry. And since 30 years, 30 years, the politics in our country destroyed our industry, really destroyed. The industry was destroyed by more than half in 30 years. So me alone in my corner, I cannot make the whole French industry revived again. But I can do a little bit and with thing that I'm, you know, happy to play with. And first the watchmaking. One thing that interested me because you have design, you have creation, you have artistics, you have technology. So that was, you know, talking to me a lot.
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Okay, so, so in this portfolio, without going into too much detail, you've got a watchmaking company. And can you just say quickly what the other fields at that stage we
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have three companies and the startup, okay, the three companies are which is making belt and small leather goods and the distillery makes, you know, spirits, like. Primarily.
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So that means that the Real Time show is hearing the origins of the next LVMH then apparently
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is a startup that I created with one of my former employees during the time of holograms. And we are developing new technologies to make dials for watches. We are using micro lithography, we are using electroforming, we are using nanogram to make effects on watch dials. So we will present our first watches next year with this totally new technology for dials.
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Okay, so let's park that because I definitely want to talk about production in France of watches. But the first thing I want to do before we maybe can see some of Pekinier's watches. And this is something I ask all of our guests who, who represent French watchmaking. You know, today when you think of a luxury watch, you can obviously buy Swiss you can buy German, you can buy Japanese if you want as well. So what is it that makes a French watch different in today's market? And what is it that makes a Pekinier watch different relative to its peers in the same price ranges?
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Okay, first, if we go back to history, you know that in the past centuries France was the leading country for watchmaking. You know, you have very big names like for example, Breguet, which the French guy developed fantastic watches and many others. In the 70s, the front was still a country, a very leading country, not only for high level watches, but also for volume watches. Like Lieb, for example, was at that time very high production and also high quality watches. So we had in that time a lot of factories, a lot of know how. What is important to notice is that the know how of French of watchmaking in France still exist and still exist at a large scale. Every day you have 10 of thousand of watchmakers that are crossing the border from France to Switzerland. So you can say that a big, big, big number. I will not say the majority, but maybe we are not far of Swiss watches are made by French workers. Okay. We still have, at 100 meters, really virtually 100 meters from our factory is the best watchmaking school of Europe.
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Is that at Gafour? Is that what it is?
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Exactly 100 or 200 meters from our manufacturer?
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I think. Sorry, I just. And I'm going off memory now, but. So I don't know the relative rankings, but I do know that taking to another project, I'm not sure if you're familiar with Le Naissance du Montre, which is a project that is basically meant to upkeep kind of handmade watchmaking. And the first one of the, maybe the first or second was Grubel Forsey and it was made actually in conjunction with a professor from Edgar Fort. So. So that, that's just. And that's probably one project among many that they have done because their reputation, as you said, is very good.
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Yeah, and also Besancon, which is about 45 minutes drive from Pekinier. It's also a large center for micro mechanics. You know, we have a school of engineers, we have a lot of small companies around. We have a lot of small companies that make components. You know, a lot of French companies are making components. I sold to Switzerland. And for example, in our caliber initial, 75% of the components are really made in France, and the other 25% are made just across the border at about a few kilometers from Pekinier. So Pekinier is really working with local manufacturers for most of the components.
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So let's, so let's, let's pause there for a moment. How difficult is it though? Well, probably less difficult today than it was. But how difficult is it for you still to make a watch that's as close to French made as possible? In other words, you're probably getting some components from elsewhere and that's, that's fine. Even the Swiss brands get their components from elsewhere. But how difficult is it for you? Let's say you wanted 100% French watch. Could that be done today? And how difficult would it be to do that?
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No, because there are some components that are not produced anymore in France. Most of the, you know, very small component. The mechanics you can buy in France for most of the production. But for example, the spiral, nobody is producing any more spiral springs in France. That piece we need to buy, you know, across the border. The oscillator also we are obliged to buy it in Switzerland, but it's still local because I mean, again, I mean we are 20km from La Chaude Fort. So you know, and they speak French also. So it's really, of course it's across the border, but it's a local made watch. What I can say.
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Yeah, and just for our non French speakers, spial is the escape or the hairspring rather. And then the oscillator is the balance wheel. Okay, so going back to the labor question before we go on to something else. So you said okay, most of your watchmakers, or French watchmakers go over the border, they work in Switzerland and they do this also. The reason they do that is because the salaries are just so much higher. So you can get Swiss salary, French cost of living. So as a company that needs these watchmakers to survive, how do you convince someone to stay in France and work on the French side of the border rather than going to another brand over on the, on the Swiss side.
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Well, there are many reason that drive a watchmaker to remains of Pekinier. The first is the project, of course. I mean, Pekinier is a rather small, still small company. We are less than 30 people in the company. So this is a project, you know, and people like projects. That's one of the first thing. The second thing is that a watchmaker in Pekinier make his watch. If you are a watchmaker in a large company in Switzerland, you put a component or two on the mechanism and then you pass it to someone else or to a machine which is making the other part of the watch. Here at Pekinier, if you have a movement, the movement has been made by one of our watchmaker, so it goes from A to Z. And you know, the pleasure that they get to work in that type of environment is a lot more than what they get working in Switzerland. That's one for first thing. Second thing is, you know that in France we have very good social laws. So if you work in Switzerland, first you work 42 hours, then you have four weeks of vacations. Then depending where you work, where you live in France, you will have probably one hour or one hour and a half drive morning and evening. So you work 42 hours plus at least two hours a day more for traveling five days a week, 10 years, so 10 hours. So it's 52 hours of work instead of 35. Okay, you get a double salary. But also when you pay a salary, when you get a salary in France, you have also a lot advantage. Also you have the health care, you have the unemployment insurance in Switzerland, I mean, if there is a problem in the economy from one day to the other, you are fired. In France, no, first it's very difficult to fire someone. And then if for whatever reason it happened, then you are protected. Then you have your salary which is guaranteed for minimum 18 to 20 months. So you know, we have with this type of arguments, we have significant amount of people that likes to stay in our company because they work a little bit less. So they have a better balance between their family life, professional life for French, French something which is important, finance and work. So I think that they, of course they get less salaried, but they have a lot more insurance for unemployment, for health, they have more holidays and they are more with family.
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I love that answer. No
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project.
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I completely agree. I don't sound it, but I'm French and that's one of the kind of decisions I had to make moving here from the States and totally agree. So fantastic answer. Okay, so now I want to talk about something that you mentioned in passing, but I want to spend more time on it. So the Calibre initial. But I think before we do that this might be a good time to see some watches. So I know you've got a selection next to you. Can you show us a couple of your favorite that have the Calibre Royale in them, please?
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Okay, first I can show you the Calibre Royale, please.
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Oh wow.
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Okay, the image is good enough.
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So just for our listeners, please go check out the YouTube channel. What Hugo is showing us now is like an acrylic cube with a blow up of all the Components for the Caribre Royale inside it. So that's. That's hard to see. If you're in Paris, go check out the boutique. You'll be able to see it there. But off the top of your heads, how many components are in the calibre? That is. Yeah, it's a complicated movement, I'm sure.
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And so the main watch we are doing with the Caliber Royale is this Royal. I don't know if it is. Yes, it's Royal. So you see that you have the big date here. So we have three discs to make this date and day. And all the three discs are jumping instantly in less than 2/10 of a second at night. So that is one of one application. You have the moon phase also in this model. You see the moon phase is just a real photo of the moon. So we got the photo from Nazas and we are making it small to get the real photo of the moon. You have. Power reserve 96 hours. It's. It's quite impressive on the watch.
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And could you turn it. Oh, I know it's gonna be hard to see on camera, but can you turn it around please so we can. So we can see the. The back if possible.
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I don't know if you will see.
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It's difficult. I'll tell. So yes, that's pretty good. I'll. As you're showing the the camera, I will mention. Yeah, there we. That's perfect. I will mention to listeners that. So I again, I own a version of the Caliber Royale. I think what's really special about the the watch that you guys showing up is that it's actually been shrunk somewhat so. The previous Caliber Royale watches were 42 millimeters. I think the one you have now is 39.5 exactly. So it's been slimmed down. The dial is much less classic than the one I have. I've got Roman numerals and it looks like a very classic dress watch. Whereas this one's been freshened up. It's just a really chic, luxe, well made product. I've never actually seen kind of handled one, but from the pictures it looks really beautiful. And hopefully listeners will be will be excited to check it out. What's the reception been duke so far? Has the market been receptive to it?
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Very excellent. I mean we, you know, just what I want to say before on the Caliber Royale is if you look at the conception, it's very symmetrical all. Even if you look at our calibanita, we are very similar to one of the Signature of Pikinh movements, the way it is constructed, the way it is finished. So we put design also on the movement. So Pekinier, if we want to give some characteristics of Pekinhe, which is really coming from the DNA of Emil Pekinye in that we are still about aesthetic, we're still about elegance. Elegance is not only the watch itself, but it's also inside the movement. So we want to be from the small component to the watch box into this design, detail and elegance. Yeah.
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So I could totally agree. And listeners, please do go check that watch out. It's worth looking at if you've not heard of it.
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Yeah. So this watch, since I have been in the company since now, we were always challenged by size. We had minimum size was 41 millimeter, and everyone told us you have to be smaller because the market now is less than 40. So we redeveloped quickly the casing in order to be able to reduce it. And also what we did is we, we worked with better manufacturer. So if you see the finishing of the box, you know, we, we have a lot of details in the polishing, in the finishing that make this watch, you know, you know, to the level of the best independent watchmaking.
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Really.
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Everyone which is looking at the details, they recognize that the quality now is absolutely superb. Even in the dial, we made lots of improvement with our dial maker. So the dial is finished to a point that, you know, probably we could sell the watch. If we could sign something different, maybe we'll get this watch for double price.
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Well, I hope that maybe in, know, five, 10 years time, 15 years time, you can, you can do that. But so I want to jump from. Okay, Calibre Royale. You mentioned calibre initial. Now calibre initial, I, I think is very important because, well, there's a couple aspects. The first is I think it's a customer caliber as well, which is. Is huge for French watchmaking. The other one though, is it does allow you to go a little bit further down in price and even smaller watches. I was looking at your website and you're even smaller. So please tell us about the calibre, initial, what you want to do with it. And then at the end, show us perhaps one or two watches that have this calibre in it, please.
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Well, the Calibre Royale is a very unique piece, but it is still a bit large. The 39 millimeter would be probably the smallest watch we could do with a Calibre Royale. So we wanted to have a caliber for smaller watches and thinner watches. And we wanted also to Have a caliber that we could eventually sell to other brands. That was the two goals that drove to the development of the calibre initial. So the caliber initial is much smaller. The smaller watch we have done with this calibre is 34 millimeter diameter. It's thinner. It's about 3 millimeters thinner than the caliber Royale. So we can make thinner smaller watches. Of course we have less complication. We have just the jumping date which remains as a sort of complication. But we still have 65 hours of power reserve which for that small watch is quite impressive. And so and also for the, with the calibre initial we, we still have, you know, a very nice design of the, of the movement. The movement is, you know, with Geneva cost and a lot of work on the, on, on the movement itself. So make, to make a looking movement. So we have several collection. The first collection that we did is this one is. We call that the collection attitude. So the attitude with this type of, you know, this is a very simple box design just to make it minimalist. This came in three formats, 34, 36 and 39 millimeter. And the specific one you have here is a limited edition that we just launched only in our boutiques and our website. And this is using the stone which is called Tiger Eye.
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So in this watch we have an in house movement and a stone dial as well.
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Yes, yes, stone dial and in house.
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And for how much does that retail for?
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So this one is the old one and we have the version, same version steel, which is about €4,000.
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Okay. So the value proposition is, is it's, it's a good one. Yeah, it's very good. It's very good. And I look, I know everyone listening. I'm French, I own a Peking. Yeah, I'm a little bit biased, but I think if you go look at the actual market pricing for some of these things, I think the data will back me up. I do want to spend.
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Please.
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And the power reserve as well, for sure. I do want to go back to this idea of a customer caliber because I don't want to undersell how important that is. You know, France in the past made lots and lots of movements and they don't anymore. And now you are making a French customer caliber. So I presume that you're going to be limited in production because you just can't make millions of them. So could you talk us through maybe what's the reception been to these calibers and what's your strategy for getting more of them out onto the market?
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Well, I Mean, this is, this is a side strategy, okay? So we are not basing our development on the fact that we are selling the calibre to outside companies. Obviously the volume of production remains small, as I told you. I mean this is not mechanism. So each watchmaker is making the movement, so the steel manufacturer movement. So the type of target is to collaborate with company that don't want to have the same movement than everyone that someone which want to make a higher level proposition with a French made caliber. So the first goal is to equip French brands that wants to say, okay, we are French, we want to have also a French movement. So the market is quite limited, but all our partners are people that want to make high level quality proposition to their public. So we have today two, only two customers that are using our movement. It's Atelier Wen. I don't know if you heard about Atali Wen. It's a very specific story. Anyway, they've been on our show actually
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before they've been on the show, so.
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Yeah, yeah, yeah. Because they first decided to make a Chinese watch 100 and then they decided, okay, I want to, you know, put the bar higher and then I will make a Chinese watch, but with a French movement, which is a very interesting proposal. But working with us, we have been able to redesign the inside of the movement. So we personalized very deeply the movement for them and this is something we can do because we are a rather small team, very flexible. So it was a real nice collaboration with them because they made a specific design and a lot of back and forth with our engineers to make the design possible into the movement and the watch they have made and test wise working very well, they sell very well. And so we are happy because we also sell very well our movements. And we have also haftech which make our movement one of the deepest mechanical movement in the ocean.
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B
Very different applications then because if you've never heard of any of these brands and you're out there listening, look up atelier1 and look up Ralphtech, Ralf Tech. They're very different. So interesting that those calibers find their way into those watches. Okay, so let's talk now. We've spoken about the Calibre Royale, we've talked about the Calibre initial. Now I want to talk about this next phase of your journey which is making Pekinier known, I would say outside of France, because I get the impression it's still very much a French brand. If you're not French, you don't really know about it. So what are Some of the things that you've done to get the Pekinier name out there. And maybe if you could tell us what some of the main export markets are perhaps just today, and then maybe the ones you'd like to target going forward.
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Okay, so today, I mean, already since a while, since Pekinier became manufacturer about 15 years ago, our Caliber Royale has been very, very, very well welcomed in Japan. So Japan was, for whatever reason, and also because we have a nice partner there welcoming Pekinier since the beginning of the. Not since the beginning of the brand, but since the beginning of the manufacture. And so we have in Japan about 15 or 17 now point of sales that are distributing our brand on a very nice scale. I mean, if you go to a shop in Japan, who is having Pekinier, they have it really. So they have all our models with the Caliber Royale inside. So for them Pekinier is Calibre Royale high level watches. So the Peking name in Japan is synonymous of French. You know, they call our movement the French Garden movement because you know what I said earlier, that it's very design, the design of the movement is very symmetric like a French garden. So for them it's a signature of the French movement that are organized like a French garden. So we have still very good sales in Japan. And now with the Caliber initial and the new watches with a Concorde line, we have a revamping also of the Japanese market for us. So Japan is our main, I mean the second market after France. Then since now three years we have been present at the Watch and Wonders. So we show our product, you know, the first edition everyone was looking at Pekinier. What are you doing here basically? And then slowly by slowly, we're integrating the world of independent watchmakers and we begin to have some nice results. We have now a point of sales in Dubai. We have a point of sales in Saudi Arabia, one in Iraq, one in Nigeria, Ghana, Vietnam. So we begin to have slowly by slowly in sometime not the countries that you imagine, which are the first country where a branch should come, but to begin to have some nice point of sale. We still have quite a lot of point of sales in Belgium, Germany, we have one now which has been opened in Italy. And we went also to a B2C trade show in New York where we have been able to show directly to the public our watches. And the results were really very positive. We had a lot, a lot of very good connection there. So we believe that the next step will be to try us because we believe that the style of our Watches will probably be very welcome in the US and the second area where we are quite hopeful is India, because also India. And I think that, you know, I know pretty well India. I've been in India many, many, many times. And I think that the mentality of the Indians and the way we see watches at Pekinier are really also very compatible.
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B
It's certainly a huge market, obviously. I think just going back to your comments on Japan, we spoke with Francais Eclat a couple weeks ago and I presume this episode will air after that one. And the comment that we had from the gentleman at Franc Eclat was if Japan validates your products, then that means it's a very good product. So if you're listening again to this podcast, if it's good enough for Japan, then it's absolutely good enough for the us, for India, for anyone. Based on just qualitative merits.
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A
Yeah, I've been a year ago in Japan to make some animations in the point of sales, and this was the first time that 100% of the customers that were looking at the watches, they had a loupe. All of them, when they look at the watch, they take the loupe and the magnifier and they look. The watch with the magnifier.
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B
Yeah, no, it's, it's. I think without just kind of the external view of the culture, I think that's, that's what they enjoy about products. I mean, we can enjoy products for different ways and I think for them it really is just appreciating every detail. And the Calais Boya has those. So I'm not surprised that you've, you've had that
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is really made with the same level of exactitude, the same level of visions.
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B
That's true. Okay, so. And then we're wrapping up shortly. But I do want to talk about the setting that you're in because you're of course, in the Pekinier boutique. And this is quite new, as I understand. So can you just walk us through when it opened and then perhaps what your plans are for other brand boutiques in the future?
- [43:55]
A
In fact, we have two boutiques when we have one in Besancon, which is more historic. And we opened this boutique three years ago in Paris. So the area where we are is surrounded by other watch shops. So it's a nice place for watch lovers to come because they will see quite a lot of different brands around our boutique. What we want to have is to have a boutique which reflects the, the mood of the company. So quite elegant with some art and no, show off Pekinier is not a show off brand. So you don't buy a Pekinier to make the show. You want to buy a pekinier because you like the watch, because you like to wear it. So it's not to demonstrate but it's to leave the ownership of your watch and the fact that you like to have an elegant watch on your wrist. And the boutique is like this, it's not a show boutique. You don't have gold and everything around. But we hope that the people that are coming in the boutique feels, well, feels comfortable, feels at home. We have our boutique leader, Thomas, which is also a guy which knows watches in detail, the watch history, the watch technology, so he can explain, he can draw, drive the customer to the right decision. So, you know, I hope it's a place which is Pekinge. You feel Peking when you are in magnification.
- [45:48]
B
And I know it's hard to quantify these types of things, but I can only imagine how expensive a project like that must have been to undertake. So in the three years that you've done this, have you started to see some of the positive effects that you were hoping for in terms of maybe sales or brand recognition or perhaps something else?
- [46:06]
A
The boutique is now representing, I mean only one boutique is representing nearly 20% of our turnover. I mean it works very well.
- [46:17]
B
Wow. I apologize. Go ahead.
- [46:21]
A
Yeah, so the fact that you have, it's also bringing exposure. It's a flagship. So the people that wants to understand the brand can come here. It's a sort of reinsurance also for the people because Pekinier is a small brand. But having a flagship in Paris, it's like being at watch and wonders. Having a flagship in Paris, that is also make some stability feeling for customers. The fact now also that we guarantee our watches during five years, you know, all that it builds, you know, also if you take into account the, you know, a little bit trouble history of Pekinier, the fact that I'm coming, I'm financing the brand, we have a flagship, we are guaranteeing the watches, et cetera, you know, gives a safe feeling to our potential customers. And also important for export because when we have some potential distributors, they come in Paris, they can be welcome in the boutique here. We have all our 100% of our models. So it's a great tool. It's a great tool for the development of the company.
- [47:49]
B
Great. And I presume just for anyone else out there who might want to buy a Pekinge watch after listening to this, you also sell online or do you have to go to a point of distribution?
- [48:00]
A
The website has also been improved. We have changed completely the website last two years ago and we are still improving it. So yeah, you can find 100% of our models on the website and we ship all around the world. Of course, we have no distribution in the U.S. but we ship the watches through our website in the US and we have time to time some sales in the US through our website.
- [48:33]
B
Okay, well I think that is a great point to end. So anyone out there listening to this from the US if you are looking for a new product to stock, again, I am biased, but I don't think you'll be disappointed checking out Pekini's product. So Hugo, I want to thank you so much. This was an extremely just clear and insightful history of the company, insight into your strategy. I think it was just great. I really hope that our listeners enjoyed this look into a brand they may not have heard of. And I hope you'll just spend a couple of minutes checking out their products. It'll be well worth your time. So thank you all so much again for listening to the Real Time show. Thank you so much to Hugin Pekinier and I look forward to seeing you sometime soon in your boutique, hopefully. Thank you so much.
- [49:14]
A
It.