Richemont’s Baume is perfectly positioned to catch millennial attention
A year ago, luxury giant Richemont launched a watch brand with a difference – Baume: millennial-facing and forward-looking. The brand is perfectly positioned to ignite a love of classic timepieces, reimagined to be more ethical, environmentally friendly, and in-line with the latest tech. But who is it targeting? Why, millennials of course, who are aged between twenty and forty years old. Its latest launch, fully customisable mechanical time pieces that will retail at $780, will offer younger adults a touch of tradition with their modernity.
Richemont’s share price has trended up year to date
Not long after Baume was created, brand leader Emmanuelle Chassot described it like this: “Baume wants to reimagine the watchmaking sector. As a business and as a brand, our values and products have to be relevant to today’s consumers and their lifestyle.”
So far, the company has lived up to her claims. Baume is fully digital, connected, and eco-friendly. It eschews the use of precious or animal-based materials, and might be thought of as a microcosm of luxury’s future. Its new Automatic Custom Timepiece series manages to continue that forward-looking trend, while nonetheless offering consumers its most traditional collection yet.
The new range is the first mechanical one to be featured in Baume’s online store. Shoppers “build” the watches themselves, picking cases, hands and straps. According to the company, there are 432 different variations that can be created, and each one will retail for $780.
Chassot explains the importance of the collection: “There is virtually nowhere else in the market where customers have the opportunity to personalize an automatic watch that is environmentally friendly, and at an unbeatable price. It was very important for us to offer a collection like this that was accessible, but that at the same time meet the highest standards of quality and savoir-faire.”
Dominion holds Richemont in its Global Trends Luxury Fund.
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