Europa Star: Last year, Saint-Honoré conducted a major advertising campaign to increase the brand's visibility on an international level. How has this worked?

Thierry Frésard: Over the last few years, and particularly in 2002, the results have been very positive since we are continuing to develop our sales. In Japan, for example, we registered an increase in sales of 45%. Last year in the Middle East, the brand enjoyed an increase of 15% in sales.

ES: What are your plans for 2003?

TF: We will make major efforts in the areas where we are already well represented such as France, the Far East and the Middle East.

ES: In 2002, which were the brand's best markets and which gave results below expectations?

TF: The countries where we encountered some difficulties were markets such as the United States and other countries in the Americas. Saint-Honoré is not however giving up on these markets but will maintain its efforts in the region. On the other hand, Saint-Honoré has enjoyed immediate success in other countries. This was the case this year, for example, with the launch of our brand in Taiwan, where our products are already greatly in demand and very successful.

ES: What are your intentions in participating in the Basel fair this year? Which markets are you targeting for development?

TF: This year, our hopes for the Basel fair will depend in part on what happens in the Gulf. Nonetheless, we plan to increase our activities in countries where the brand is present, but especially we want to gain access to certain markets that, up to now, have not shown very significant development. In this vein, as I already mentioned, we intend to invest more in the Americas, in general, and in countries such as Russia. We are also considering the Eastern European region, which as we all know, is in a period of great development.

ES: What will be the new products introduced by Saint-Honoré at Basel?

TF: At Basel 2003, we are presenting an evolution of certain lines that are already very successful and whose sales are constantly increasing. They will take new forms and be set with new colored stones. Basel is also the occasion to launch three new watch lines that are both colorful and have innovative shapes. Their names will be revealed at the fair. Last year, we presented a first look at the prototypes of a collection of jewellery bearing the Saint-Honoré Paris label. This year, we will introduce the actual collections that will be available to our clients and agents around the world. We are presenting three jewellery lines that correspond to our jewellery watch lines. They will portray a mélange of material and colored gemstones and will surprise more than one.

ES: Are you going to continue your policy of opening corners and boutiques this year?

TF: In 2003, we plan on opening two boutiques in the Middle East and several 'shops in shops' in the Far East. Most importantly, we hope to solidify plans for opening our own Saint-Honoré boutique on the famous street with the same name in Paris.

ES: What is the philosophy of Saint-Honoré ?

TF: Saint Honoré, as is the case with other French watch brands but perhaps even more so for us because of the name and the origins of the firm's founder, is based on a philosophy that combines creativity, fashion trends and a Parisian image, while using Swiss Made fabrication for its tradition and quality. Many brands of respected couturiers have followed this same route.

ES: Over the last few years, Saint-Honoré has positioned itself more in the haut de gamme sector of the market. Has this policy brought the expected results?

TF: As you have said, Saint-Honoré is positioned in the upper end of the sector. We will continue this in the future for several reasons. First, the prestige of the name allows us to position the brand in the haut de gamme segment. Our successful experience in this sector over the last two years reinforces this decision. We are obviously very happy to learn that our agents have sold certain Saint Honoré timepieces in the 'lunatic' range, at prices of nearly US$ 20,000. This is why, also, that we have decided to create a jewellery collection in order to establish Saint Honoré as a global brand in the haut de gamme. To sum it up, the message that we want to get across is that we are conveying an image and we are offering our young and dynamic clientele a luxury product that is not necessarily unaffordable.