The Real Time Show

Episode: Talking French Luxury And Manufacture Movements With Hugues Souparis, CEO of Pequignet

Date: March 1, 2026
Hosts: David Boshe (filling in for Rob Nudds & Alon Ben Joseph)
Guest: Hugues Souparis, CEO of Pequignet

Episode Overview

This episode dives deep into the revival and innovation of French luxury watchmaking with a focus on Pequignet, one of France's few high-end horology manufacturers. Hugues Souparis, Pequignet’s CEO, explains the brand’s storied history, the quest to create French-made manufacture movements, and his own mission to reinvigorate French industrial craftsmanship. The episode is rich in technical, cultural, and entrepreneurial insight, pairing personal anecdotes with industry context.

Key Discussion Points & Insights

Origins & Historical Trajectory of Pequignet

[01:22 - 07:18]

• Founding and Early Years: Founded in 1973 by Emile Pequignet, initially as a designer of stylish, often jewelry-like watches primarily for women, utilizing Swiss quartz and mechanical movements.
• Innovation for Women: Noted for fusing jewelry and timepiece design, offering some of the first truly distinct women’s watches rather than just smaller men’s models.
• Ownership Changes: After Emile's retirement, Pequignet was acquired by the Liebenguth family, aiming to shift towards ‘manufacture’ status with in-house calibers.
• Manufacture Era: Debuted the Calibre Royale in 2010—a fully integrated, complicated movement with features like a jumping date, moonphase, and 96-hour power reserve. However, early technical issues and high repair rates threatened the brand’s survival.

"Pecinier 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." — Hugues Souparis [05:35]

• Near Collapse and Recovery: Bankruptcy declared in 2017. Four dedicated employees bought and streamlined the company, focusing on sustainability.
• Souparis’ Arrival: Entered in 2022 to lead the next growth phase, with an emphasis on export, innovation, and reclaiming a leading role in European independent watchmaking.

Hugues Souparis: Background & Mission

[08:00 - 12:32]

• Industrial Entrepreneur: Not a traditional artisan, but a pioneer in holography for security devices (credit cards, banknotes, passports).
• Maison et Manufacture: Post-exit from his successful hologram company, Souparis founded a holding company focused on reviving French industrial production across industries—watches, leather goods, spirits, and high-tech dials.

"France was at a time one of the world leading country in terms of high tech... and since 30 years, the politics in our country destroyed our industry. Me alone, I cannot make the whole French industry revive again, but I can do a little bit." — Hugues Souparis [11:10]

• Watchmaking as a Calling: Drawn to watches for their mix of design, technology, and artistry.

French Watchmaking Identity & Challenges

[14:00 - 19:17]

• Historic Roots: France historically rivaled Switzerland in horology, with iconic figures like Breguet.
• Modern Realities: Craftsmanship persists—many French watchmakers work across the border in Switzerland daily.
• Component Sourcing: Even aiming for a “100% French” watch isn’t possible; hairsprings and balance wheels must come from Switzerland.
• Local Collaboration: 75% of Pequignet's Calibre Initial components are made in France, the rest sourced nearby in Switzerland for practicality and quality.

Attracting and Retaining French Talent

[19:58 - 23:33]

• Work Philosophy: Pequignet offers meaningful, holistic projects—watchmakers assemble entire movements, not just parts.
• French Advantage: Despite higher Swiss salaries nearby, French law offers better work-life balance, job security, holidays, and social protections.

"Here at Pequignet, if you have a movement, the movement has been made by one of our watchmakers, so it goes from A to Z... The pleasure that they get to work in that type of environment is a lot more than what they get working in Switzerland." — Hugues Souparis [20:18]

Showcase: Pequignet Watches & Movements

Calibre Royale

[24:08 - 29:30]

• In-House Movement: Features instant-jumping day, date, moonphase with a realistic NASA-derived moon photo, 96-hour reserve.
• Design Ethos: Elegance down to the movement’s symmetry and finishing—“elegance is not only the watch itself, but also inside the movement.”
• Modernization: Recent redesigns have slimmed cases and upgraded dial/finishing to appeal to contemporary tastes (now ~39.5mm vs. former 42mm).
• Market Reception: Strong positive feedback and validation by connoisseurs; better finishing elevates Pequignet among independents.

"If we could sign something different, maybe we'll get this watch for double price." — Hugues Souparis [29:18]

Calibre Initial

[29:30 - 37:00]

• Compact, Thin, Versatile: Enables Pequignet to offer smaller, thinner watches (down to 34mm) with long power reserve (65 hours) and jumping date.
• Marketplace Impact: Enables more affordable luxury (e.g., stone-dial models retail for ~€4,000).
• Customer Caliber: Pequignet now supplies this movement to other brands; notable collaborators include Atelier Wen and Ralf Tech.
• Customization: Pequignet’s flexibility allows bespoke movement adaptations for partners.

"We personalized very deeply the movement for them and this is something we can do because we are a rather small team, very flexible." — Hugues Souparis [35:34]

International Reach & Export Strategy

[37:50 - 43:09]

• Main Markets: After France, Japan is a significant market; Japanese collectors especially appreciate Pequignet’s “French Garden” movement architecture.
• Emerging Outlets: Small but growing presence in Dubai, Saudi Arabia, Iraq, sub-Saharan Africa, Vietnam, Belgium, Germany, and Italy.
• U.S. Ambitions: Attendance at New York fairs suggests growing brand recognition in North America.
• Future Targets: Sees strong brand fit and interest in the U.S. and India.

"Japan was...welcoming Pequignet...and so we have in Japan about 15 or 17 now point of sales that are distributing our brand on a very nice scale." — Hugues Souparis [38:13]

Boutique Experience & Brand Identity

[43:55 - 47:49]

• Paris Flagship: Opened a dedicated Paris boutique 3 years ago, now accounting for ~20% of sales. Designed for warmth and elegance—no ostentation or “show off.”
• Client Experience: Staffed by knowledgeable horological experts; focus is on the pleasure and pride of ownership, not status display.
• Global Tool: Functions as a reinsurance for clients and a platform for international partners to engage the entire brand catalog.

"You don't buy a Pequignet to make the show. You want to buy a Pequignet because you like the watch, because you like to wear it. So it's not to demonstrate but it's to live the ownership..." — Hugues Souparis [44:29]

Buying Pequignet

[48:00 - 48:32]

• Global Accessibility: All watches now available via an improved website with worldwide shipping (including the U.S.), supplementing international retail partners.

Notable Quotes & Memorable Moments

• "Pecinier 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." — Hugues Souparis [05:35]
• "France was at a time one of the world leading country in terms of high tech...and since 30 years, the politics in our country destroyed our industry. Me alone, I cannot make the whole French industry revive again, but I can do a little bit." — Souparis [11:10]
• "At Pequignet, if you have a movement, the movement has been made by one of our watchmakers, so it goes from A to Z..." — Souparis [20:18]
• "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." — Souparis [27:18]
• "You don't buy a Pequignet to make the show. You want to buy a Pequignet because you like the watch, because you like to wear it." — Souparis [44:29]

Segment Timestamps

• 00:00 - 01:22 | Introduction & Setup
• 01:22 - 07:18 | Pequignet’s Founding, Evolution, and Manufacture Ambitions
• 08:00 - 12:32 | Hugues Souparis’ Journey: From Holography to Horology
• 14:00 - 19:17 | French Watchmaking Context & Component Supply Challenges
• 19:58 - 23:33 | Attracting and Retaining French Watchmakers
• 24:08 - 29:30 | Calibre Royale: Features, Show and Market Response
• 29:30 - 37:00 | Calibre Initial: Customer Caliber and Strategic Partnerships
• 37:50 - 43:09 | Export Markets: Japan, Middle East, Africa, and Beyond
• 43:55 - 47:49 | Paris Boutique: Brand Experience and Strategic Importance
• 48:00 - 48:32 | Sales Channels and Global Accessibility

This episode offers a rare, behind-the-scenes look at the ideals and realities of French luxury watchmaking—past, present, and future.
It’s a must-listen for enthusiasts of independents, French design, and the mechanics of brand renewal.