t took us 14 years to find the right location in Zurich,” exclaims Stéphane Waser, director of Maurice Lacroix, as he welcomes us into the brand’s new boutique, tucked away in a lane leading to Bahnhofstrasse. The opening comes at a symbolic moment, as the Jura-based watchmaker prepares to celebrate its 50th anniversary.

This boutique is Maurice Lacroix’s only store in Europe. The brand, known for its Swiss-made, urban, and accessible timepieces, primarily relies on a global network of multi-brand retailers, which account for nearly all its revenue. It has two other boutiques in Asia, one in Thailand and another in Malaysia, both inaugurated in 2024. These markets have long been key territories for DKSH, the Swiss distribution giant to which Maurice Lacroix belongs.

In addition to leading Maurice Lacroix, the only watch brand owned by the group, Stéphane Waser also holds another important role as he oversees the distribution of client watch brands for DKSH, primarily targeting the Asian market.

A changing landscape

“Our strategy is clear: we are a retailer-focused brand, and this opening does not signal a shift towards a strategy to establish our own boutiques,” he explains. “Moreover, we do not launch products exclusively for boutiques, even though this practice has become common in the watch industry.”

On the contrary, Maurice Lacroix aims to position itself within the gap created among retailers by the departure of long-standing competitors moving upmarket and opening their own boutiques. “Take Malaysia, for example,” Waser notes, “some retailers struggle to secure the critical mass of brands they want in the more accessible segments. Yet, a multi-brand retailer needs both volume and interesting brands to attract all customers. The situation has completely changed. There was a time when we had to compete just to get into their stores!”

The number of independent retailers has been steadily declining over the past 15 years, particularly in traditional markets like Germany and Italy. However, Maurice Lacroix remains widely distributed, with a presence in some 1,300 points of sale around the world.

“A multi-brand retailer needs both volume and interesting brands to attract all customers. The situation has completely changed. There was a time when we had to compete just to get into their stores!”

Multiple life cycles

Maurice Lacroix’s success today is largely driven by its accessible, sport-chic Aikon model, which entered the market at the right time in the right segment. The best-selling collection by far, the Aikon has recently expanded with new ceramic versions, and will certainly be a prominent feature in the brand’s 50th-anniversary celebrations.

Over the past four years, the company has returned to profitability. It is minimally exposed to the slowdown in China. Among its key markets are Europe, Japan, India, and Mexico.

The history of Maurice Lacroix has been shaped by multiple repositionings - sometimes to its detriment. Initially, Maurice Lacroix was a high-volume producer, managing an overwhelming number of references per market. Later, it attempted to move upmarket, venturing into Haute Horlogerie with the Masterpiece collection in the 2000s. Eventually, it found its niche as the urban, contemporary, and accessible sports brand it is today.

As it approaches its fiftieth anniversary, the brand is finally showing a much calmer face.

The flagship Aikon collection has recently expanded with new ceramic versions and will certainly be a prominent feature of the fiftieth anniversary.