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When you already sold 10 million watches last year and have 12,000 points of sale worldwide, how can you keep growing? Such is the question that Jean-Pierre Lutgen, founder and CEO of Ice-Watch, no doubt faces after his brand’s astonishing rise to the top of the fashion watch table. His answer is to stick to what the brand is both good at and best known for, the colourful watches that remain a cornerstone of the collection, while at the same time opening up new price segments and wooing customers with a canny marketing strategy.

People in the United Kingdom will have been exposed to Ice-Watch through its sponsorship of prime-time Saturday evening television shows on ITV; those in Germany may have seen it as the new sponsor of BMW Motorsport in the popular DTM motor racing series; still others may have seen the watches flying over their head on the fuselage of a Thomas Cook aeroplane, or may remember seeing them emblazoned on the side of a tram travelling around Basel city centre during this year’s BaselWorld show.

TOP IN EUROPE

These efforts translate into market shares that are the envy of Ice-Watch’s competitors. In the €50-99 price segment, Ice-Watch was once again the number one brand by sales in France, Germany and the Netherlands in the first half of 2013 and its market share continues to grow in the United Kingdom. Growth now comes from the brand’s move up-market, as it captures market share in the €100-249 price segment. In this hotly disputed price category, Ice-Watch has already managed to enter the top ten in some major European countries and is poised to grow further with the launch of higher range models towards the end of the year.

Brand awareness is undoubtedly also helped by the massive social media efforts undertaken by Ice-Watch, clocking up 4.7 million fans on Facebook. Ice-Watch is now the number one brand on the leading social network site in the watch and jewellery segment. This position ahead of its competitors ensures levels of “engagement”, as the yardstick for measuring social media impact is known, that continue to keep Ice-Watch one giant leap ahead of its competitors in the social media space.

THE MOVE UP RANGE

The new Ice-Watch collections scheduled for launch in the final quarter of 2013 signal a move up range for the brand, targeting price segments above the €100 retail threshold that has so far acted like a virtual barrier for the company.

These include the fashionable Ice-Denim, Ice-Vintage and Ice-Style collections and enter new territory for the brand with the introduction of fabric (Ice-Denim) and leather (Ice-Vintage) straps, as well as the first use of steel for its watch cases in the Ice-Style collection (although, true to Ice-Watch’s penchant for colour, the steel has been given a colourful rose-gold treatment). Retailing for €139 (€99/€109 for the Ice-Denim), these lines bridge the gap between the brand’s standard offerings and its current top of the range model: the Swiss Made Ice-Surf models with an Ice-Ramic® (polyamide) case, rubber strap and 20 ATM water resistance.

The presentation of the first Ice-Swiss concept watches at BaselWorld this year, which will be assembled in Switzerland using Swiss movements, signalled Ice-Watch’s intention to move even further up range. With a design similar to the Swiss Made Ice-Surf models, the Ice-Swiss will feature a unique “Swiss Cross” Swarovski crystal that shows a silhouette of the Swiss flag. This is Ice-Watch’s most direct challenge yet to the numerous Swiss Made brands operating in this segment and it is ironic that the Belgian brand is doing so by pioneering innovative new ways of depicting “Swissness”.

KEEPING IN TOUCH WITH ITS ROOTS

Ice-Watch is, however, keen to stress that it will remain faithful to its two core themes of colours and silicone. Great attention will continue to be focused on the “Ice-Sili” lines, which are based around the signature design that started it all (which is now known as the Ice-Forever) and cover themes ranging from summer to chocolate via glow-in-the dark colours. The Pantone® Universe collection, using the palette of colours matched with the classic Ice-Watch design, is yet another example of the brand’s ability to negotiate the perfect marketing partnerships. The Ice collection, with its integrated silicone case and strap, has also enjoyed huge popularity and spawned various derivatives (Ice-Glam, Ice-Crazy and Ice-Sixties) including limited-edition designs by Belgian artist Bart Verheyen and a BMW Motorsport collection designed by famous Belgian designer Pierre Leclerc that embodies the spirit of both brands.

Even with around 500 different timepieces in its collection, unlike many of its competitors Ice-Watch maintains across the board an unmistakable coherence, an unmistakable signature that is immediately identifiable. By remaining true to its roots as a pioneer in affordable, colourful watches that can be changed regularly according to the season or one’s mood, the Belgians appear to have found a great recipe for success.

Source: Europa Star October - November 2013 Magazine Issue