features


Birth of a new (mini) luxury group: Perficio

April 2004





A new luxury group has just been created on the shores of Lake Geneva. Situated near the small town of Nyon, not far from Geneva, the new group calls itself Perficio and has chosen to locate its headquarters in a large renovated farm. Two brands have already entered the fold: Ikepod and Poiray. And, they are only the beginning. The following is a meeting with the two manager/directors of the group, William Devine and Christian Weber.

Perficio (from the Latin perficere, to improve, to perfect) is the enterprise that manages the acquisitions and the investments of Lac Investments SA. Two men are at the helm of this company and both are well known in the world of watchmaking: William Devine (successively responsible for Universal, Robergé, de Grisogono, Messe Basel) and Christian Weber (after having managed large luxury stores, he created and directed a major fiduciary specialized in watches and jewellery).
Their stated goal is not to compete with the likes of the large international luxury groups such as LVMH, but rather to establish a highly developed group, which brings together, under one roof, a range of diverse but complementary niche brands with strong identities that are active in the luxury sector. Perficio therefore intends to create the most efficient synergies possible at the level of global financial management, marketing, communication and production.
Created in March 2003, Perficio has rapidly risen to the forefront. Its initial brand was Ikepod, purchased on September 15, followed by the French jeweller and watchmaker, Poiray acquired on October 1. The company has no intention of stopping here and new acquisitions are envisioned. Still, while waiting for these future developments, their job is considerable in light of the re-launch of these two brands, which, each in its own very particular way, occupies an original and very interesting position in the galaxy of global luxury brands.

Ikepod’s avant-garde niche
Launched in 1994 by an association between the Zurich entrepreneur Oliver Ike and the Australian designer Marc Newson, the Ikepod brand has endeavoured to occupy a very special place in watchmaking, that of the prestige design watch. For the first time and breaking with the neo-classic clichés that ruled over high-level watchmaking, a brand attempted to combine formal workmanship and an ultra-contemporary design aesthetic with ‘traditional’ mechanical watchmaking.
Having been ‘right’ too early, and also having been carried away by the definite media success that was not reflected in sales, Oliver Ike wanted to expand too rapidly. The market was not yet ready to accept a price level judged too expensive for avant-garde designed timepieces, which had no guarantee of having more than ephemeral appeal. The difficulties endured by the overall luxury goods industries in 2002-03 plus the high cost of introducing a product on North American markets, combined with the very heavy investment of an over-sized production plant (Nouvelle Piquerez) all contributed to damping Ike’s ambitions.
“We took over Ikepod,” explain the owners of Perficio, “because we believe that this unusual approach to contemporary prestige watchmaking has a bright future ahead of it. In the short term, we are working hard to re-launch the brand and to organize a network of subcontractors that will allow us to continue production in order to have rapid deliveries on existing markets and then to expand into new markets.”

Affordable luxury
“The exceptional opportunity represented by Ikepod,” says William Devine, “is that of being a watch-concept, unique in its sector. It is such a different kind of product than what is available today. We are going to emphasize this particularity and reinforce the original work on design, which gives the brand its strength. The collaboration with Marc Newson, the product’s creator, is going to continue and become even stronger. But, we are also going to be very attentive to our positioning. We must propose more competitive and clearly defined products. Ikepod is an authentic watch brand but it does not have the intention of moving into the area of the grand complication…”
Asked about the timetable for this re-launch, the managers of Perficio insist that they are proceeding prudently. “First, we want to become comfortable with our position in the marketplace (primary market is Japan, followed by Hong Kong, Thailand, France and the United Kingdom). Our first mission is to deliver our orders with superior quality. In the second half of 2004, we are going to proceed with our repositioning while seeking to move beyond our basic concept. Our strategy is based on a two-year plan. Ikepod enjoyed a high level of appreciation especially among new, younger and dynamic consumers, but promises were sometimes not kept. Respecting our engagements is a prime target for us for the future.”

The Poiray patrimony
Fifteen days after finalizing the take-over agreement with Ikepod, Perficio acquired Poiray, on October 1, 2003, a brand renowned in the orbit of luxury French jewellery. With this brand, the group leaves the hyper-trendy design universe of Ikepod to enter into the opulent realm of Parisian tradition. Although created recently, in 1975, Poiray, whose name comes from Paul Poiray, the mythic couturier from the pre-war era, has managed to quickly gain entrance into the gallery of French luxury. Its founder is none other than Robert Hocq, co-owner of Cartier at the time. Following his accidental death in 1979, his daughter Nathalie Choay re-purchased it from Cartier with the intention of making Poiray an authentic brand. In response to Cartier’s ‘Must’ strategy, she decided to democratize her offer by launching the vogue of fine gemstones, then to innovate radically with the first interchangeable wristwatch, the famous ‘Ma Première’.
Targeting especially the feminine public, with half of its production in watches and the other half in jewellery, the brand is developing essentially in France and Japan, although its novel approach engenders, little by little, many rivals and competitors.

The challenge of revitalization
For Christian Weber, the challenge is more than a little exciting: “Poiray’s initial strong creativity has faded a bit. Now, we must strengthen and repos-ition the brand. This means a complete rethink of the marketing as well as all the other aspects of the brand, that is, we have to review its com-munication, logo, and visual identity.” Already in December, new products saw the light of day both in watches and jewellery.
“We have re-evaluated and transformed the concept of ‘Ma Premiere’, in a very simple and, I believe, very efficient manner,” explains William Devine. “We will bring numerous innovations and modernizations to this fabulous collection. However, our first action was simply to reposition the case lengthwise. This gave it a more youthful appearance right away. We call it the ‘16/9’, which is the name of this oblong format. We are also presenting a very new line of jewellery watches in the ‘Paradox’ collection. If Ikepod made the link between watches and avant-garde design, then Poiray is making the link between watches and jewellery. We are also opening up to men with our new Collection ‘16’, a unisex offer with masculine versions, based on the idea of interchangeability, which is one of the major elements of our heritage.”

Re-launch of jewellery
The jewellery sector of Poiray has not been forgotten, either. A new collection has been introduced featuring the idea of the captive stone and the artisanal cut of diamonds. The goal is to attain a strong identity, immediately recognizable, thanks to a very particular type of workmanship that offers a seductive and unusual visual aspect (see illustration), often inspired by the ‘baroque’ theme.
The two men at the helm of Perficio estimate that the potential for development is “enormous” both for Ikepod and Poiray. The two brands, totally different yet complementary and positioned in the luxury sector, are only distributed on a small number of markets for the moment. The commercial priorities of Perficio are to not only strengthen the existing positions, but also to extend gradually and progressively into new markets.
“The real test is not to buy a brand,” declares William Devine, “but to manage it well and make it better. We are called ‘Perficio’ because we hope precisely to ‘take to perfection’ all the brands that we acquire.”
The young team, installed in Nyon, has several months to establish its credibility. With some ten employees in the headquarters, the brand intends to strengthen its production over time. Poiray has a jewellery atelier in Paris with 35 employees that has already been integrated into the Perficio group. As for Ikepod, its production remains based in Bassecourt, in the Swiss Jura region. Step by step, Perficio expects to improve and develop its own competencies, notably in those arts and crafts related to the luxury watch and fine jewellery.
To this end, its latest ‘acquisition’ was the Steenman workshop in Geneva. Dutch by origin but installed since 1977 in Geneva, Dick Steenman is a young and talented creator specializing in dials and movements that are entirely engraved. He has been recognized for many unique pieces as well as his very creative stone settings that he does for large watch brands. Dick Steenman is also the creator of many original pieces, an activity that he will continue to develop, for the Perficio group, targeting the market of collectors and aficionados of fine watchmaking.

Photo: HG04 - HG06 Hemipode pink or yellow gold by Ikepod and MP 16 Neuvième by Poiray.