Luxury is about roots and DNA: Omega CEO

We are finding young people are interested in new watches that have some sort of vintage appeal, Omega CEO Raynald Aeschlimann tells Moneycontrol (Image: Omega Constellation)

Akshay Sawai

Online availability and watches with history are two key drivers to attract young customers, Omega CEO Raynald Aeschlimann believes.

“We are finding young people are interested in new watches that have some sort of vintage appeal. We are not talking about simple reissues of classic watches: we are talking about modern watches that might reference the 1950s and 60s in their design,” Aeschlimann said in an interview in the April issue of ‘Monocle’.

Man stepping on the moon was a giant leap for Omega. It was the official watch of NASA missions, including Apollo XI, when Neil Armstrong, Buzz Aldrin and Michael Collins flew to the silver disc in our sky. That was 1969. Half a century later, Omega still possesses the cachet of being the first watch ever worn on the moon, of being on the hands of Armstrong and Aldrin as they registered one of mankind’s greatest achievements.

“Our new Speedmaster watches are inspiring for people who weren’t even born when astronauts were wearing them on the NASA moon-landing missions, but they love the story and the history and the look,” Aeschlimann said.  “Luxury is about roots and DNA and young people respect this.”

Coming to the present, Aeschlimann said that having a digital presence helped when the COVID-19 pandemic forced them to close their stores.

“We had the difficulty of dealing with 460 shops that were closed temporarily,” he said. “But we were ready with a digital offering because we’d listened to what our customers had wanted in the past. You can’t prepare for these things overnight; you can’t just wake up in the morning and become creative or flexible – it has to be in your DNA.”

Nonetheless, Omega has invested in a flagship store in Zurich. It is a departure from luxury stores of the past, which were snobbish and where the product was in enclosures. The brand has emulated the Apple concept of letting customers touch and feel watches.

“Part of the concept was to make the watches feel available, and without cases it’s easier to imagine these watches on your wrist,” Aeschlimann said. “Two years ago, we started moving in a totally new direction with our shops, with this more transparent offering. A visit to an Omega shop should be like calling in on an old friend in their apartment.”