Fashion watch brand targets teens, university students

MANILA, Philippines - The Swiss watch brand TechnoMarine has only been around for a little over 10 years but in 2000, it approached a music mogul to ask if he was interested to take over the company as its chief executive officer.

At the time, Gilbert Ohayon turned down the offer, happy as he was working in the entertainment business. During his "music years," he worked with international acts like Tina Turner, Pink Floyd and Joe Cocker.

In mid-2007, Mr. Ohayon and his partner Jean Claude Yana acquired 100% of the shares of TechnoMarine along with Credit Agricole (Suisse) and COBEPA (Compagnie Benelux Participation).

In the interviews he gave after the takeover, he talked about his plans for the fairly new brand that, according to reports, has sold over two million watches in 100 countries with 2,000 points of sale.

There was even talk of a "portfolio extension" but as Mr. Ohayon told BusinessWorld during his visit to the country earlier this week, "more than extending the product range, there was a need to rationalize and refine the existing portfolio."

He pointed out how Cruise, TechnoMarine’s entry-level range and first diving chronograph, was the most "dynamic" since they could make as many additions to the line as needed.

By tweaking the lines of a particular watch style — outlining it in diamonds, using gold, attaching a ceramic strap — they could update the look and, hopefully, attract a new set of buyers. He described this marketing strategy as the company’s "180 degree vision."

Mr. Ohayon said they planned to do this with the other styles namely Moonsun which is targeted at urbanites and sports enthusiasts, and the UF6 which features "daring combinations of materials" like bezels made of stainless steel with a carbon fiber insert.

Instead of going the traditional route of taking on an image model, he has said they want to be in "places where people don’t expect the brand to be." To this end, they have participated in the music-centric Grammy’s and in "Lipstick Jungle," the cable TV series starring actress and former model Brooke Shields.

Still, if as Mr. Ohayon has said he is keen on targeting teenagers and college students who decide what is and isn’t cool in fashion, he might want to consider tapping "Gossip Girl." The TV series that follows the exciting lives of high school students in New York’s Upper East Side is a certified hit.

In a Reuters article published earlier this week, writer Alexandria Sage noted how teens who are exposed to shows like "Gossip Girl" are "craving more fashion in their wardrobes."

It now remains to be seen whether Mr. Ohayon and his team at TechnoMarine will catch the eye — and the saved-up weekly allowance — of their target market.

Prices for TechnoMarine watches range from P15,000 to well over P100,000. - BusinessWorld