Staff Reporters
Oct 27, 2009

MediaTV: IWC's luxury strategy

ASIA-PACIFIC - In the fifth part of Media's series on luxury brands' marketing strategies, Goris Verburg, general manager of the International Watch Company (IWC) Southeast Asia, says the company is keen to grow its brand in Asia's emerging markets before these markets develop luxury brands of their own.

In the interview, sponsored by The Financial Times, Verburg says IWC is looking to make a name for itself in markets such as Vietnam and Indonesia, where it has the potential to be a leader in the timepiece sector. He adds that IWC is looking to build on its identity as a retailer as customers gain the ability to spend on luxury products.

Verberg adds that, in time, Asia will develop luxury brands of its own in markets other than Japan and Hong Kong, but for the time being, IWC aims to capitalise on the current consumer sentiment that Western labels are more luxurious.

“At the moment it looks like it’s more desirable to get a brand from Europe or from the US, something that is further away that is more different and difficult to get,” he says. “At some stage I’m sure local designers and very gifted people will build their own brands and designs and develop big labels.”

The series, which focuses on luxury brands' marketing strategies, has featured interviews with Shanghai Tang executive chairman Raphael le Masne de Chermont; Fabergé's CEO Mark Dunhill; managing director of BMW Asia Johannes Seibert; and Asia-Pacific general manager of eyewear brand Alain Mikli Raymond Mok.  

To see previous MediaTV interviews, click here.

To see MediaTV interviews as soon as they come out, sign up for Media's email bulletins.

Sponsored by:
Produced by: Siren Films

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