lavio Pellegrini, CEO of Ebel, welcomes us to an extraordinary setting in La Chaux-de-Fonds. The Villa Turque, currently undergoing renovation, has become a symbol of the brand over the decades. Commissioned in 1916 by Anatole Schwob, owner of Cyma watches, from the young Charles-Édouard Jeanneret — not yet known as Le Corbusier — the Villa Schwob was completed in 1917.

Its volumes, early use of reinforced concrete and architectural language, unusual for La Chaux-de-Fonds, set it radically apart from its surroundings. Its appearance soon earned it the nickname “Villa Turque”. It would also be Jeanneret’s last building in La Chaux-de-Fonds before his departure for Paris.

Ebel acquired the property in 1986, at the height of one of the most exuberant periods in its history. The brand undertook a full restoration in 1987–1988, entrusting the interiors to Andrée Putman. The intention was to create a living space for encounters and for sharing the brand’s world, rather than a museum. The villa was listed as a historic monument in 1995.

Forty years after that golden age, as craftspeople once again work on the building while seeking to preserve its original character, Ebel is pursuing an evolution of its own. Its signature Sport Classic, launched in 1977 and brought back to the fore for its 40th anniversary in 2017, will turn 50 in 2027. Pellegrini sees this milestone as potentially decisive.

Europa Star: How would you define Ebel’s place in watchmaking today? Does “accessible sport-chic” still apply?

Flavio Pellegrini: Sport-chic, yes. I am not sure we necessarily need to add “accessible”, because that is a positioning we can adjust fairly quickly, and our intention is precisely to take Ebel further upmarket.

But the essential point, in my view, is that Ebel is probably one of the brands with the greatest potential in today’s watchmaking landscape. We are seeing many historic names being revived. We, too, have been laying the groundwork over the past few years, and we continue to refine it in preparation for a more substantial relaunch.

Doesn’t that call for a decisive break with the past?

No. In fact, one of the things that makes Ebel truly distinctive is that it has remained faithful to the fundamental direction established from the outset by Eugène and Alice Lévy.

I find it quite remarkable that a house should have preserved its identity and positioning so consistently for 115 years. It is always easier to revive something clear and authentic than to find your way back after reinventing yourself several times.

Ebel does not need to reinvent itself. There has been no major break in its identity. We are therefore building gradually. At some point, that progress will probably need an injection of momentum.

When might that happen?

We are fortunate to belong to a financially very strong group. Movado Group generates close to $700 million in revenue and has more than $200 million in cash, with no debt.

In a sense, we benefit from the group’s protective umbrella. It gives us time to move forward and prepare the ground. Some people would occasionally like things to happen faster, but we can make decisions that are right for the long term.

Over the next 12 to 18 months, I think we could see some very exciting developments at Ebel.

What will underpin this next phase of growth?

The first priority is to focus on our core products, with the Sport Classic obviously foremost among them. We relaunched it for its 40th anniversary in 2017, and it will celebrate its 50th in 2027. That is a highly symbolic year for us, one in which something magical could happen around the brand.

The Sport Classic will therefore be central. The other priority will be women’s watches. Today, around 80% of our customers are women. We also operate in a price segment where quartz remains very important.

But as we develop, we have an opportunity to move further into automatic watches. And whenever we present a more “masculine” product, we immediately see a response. That is one of the Sport Classic’s strengths: its versatility. The same watch works equally well on a woman’s or a man’s wrist.

You sum up Ebel with a striking formula: “80-80-80”…

Yes. It is obviously a simplification, but I often say: “80% women, 80% two-tone and 80% quartz.” That does not mean we want those ratios to remain exactly as they are. The proportion of male customers could increase, and we will gradually move towards more mechanical watches. But we are not about to become a brand that is 80% male and 80% mechanical. What matters is understanding the philosophy behind those figures.

This is an interesting moment: two-tone watches, neo-vintage designs and more restrained case sizes are all making a comeback. Ebel does not have to force itself to fit that trend.

In the past, there were times when the brand perhaps tried to follow trends that suited it less well, particularly the period of larger watches and that very conspicuous sporting aesthetic. Ebel is not a brand you should force into a mould. Today, watchmaking is moving in a direction entirely aligned with our fundamentals and our history. That is what we need to build on.

Which are Ebel’s most important markets today?

If we are talking about individual countries, Germany is clearly our largest market. Ebel retains an exceptionally strong historical image there, particularly through tennis. Many people still associate the Sport Classic with Boris Becker. Even our ochre colour can evoke a clay court.

The Middle East also remains extremely important. The recent period has obviously been difficult because of the conflicts, but Ebel retains its status there as a true luxury brand. We have three monobrand boutiques in Kuwait, for example, inspired by the Villa Turque. That says a great deal about the brand’s historical strength in the region. We also had plans to reopen in Dubai, Saudi Arabia and Qatar, which have been slowed by events.

And India?

It is a very substantial business for us and an extremely promising market for the industry as a whole. We are seeing India gradually emerge among the important markets in watch export statistics. Purchasing power is rising and, above all, distribution is beginning to become properly organised, with players such as Ethos, Titan and Just In Time. There is real momentum.

Does Movado’s American ownership make things easier for Ebel in the United States?

Movado is distributed primarily through department stores in the United States, and unfortunately that retail reach cannot be transferred directly to Ebel.

Until now, we have mainly chosen to work through our website, taking a direct-to-consumer approach, and that works relatively well. But we do not yet have an established physical retail network in the United States. We are now working on a project to relaunch the brand there.

What is interesting is that, despite this limited presence, we receive enquiries and see just how well known Ebel remains.

Does tennis still contribute to that recognition?

Yes, particularly in Germany, Switzerland and France. In those countries, people still make the connection between Ebel and tennis very naturally.

We sponsor the Bad Homburg Open, for example, a prestigious German tennis tournament with a long history. It is a way of remaining part of that world while respecting our own history. Tennis should not be used artificially: it already belongs to Ebel’s heritage.

You do not currently exhibit at Watches and Wonders. Is that an ambition?

Watches and Wonders is certainly a platform we aspire to join. We have been exhibiting at the Beau-Rivage in Geneva for several years now, and we are very happy with that arrangement. But a more substantial relaunch could also be the right moment to join a platform of that stature.

It would also support our ambition to move upmarket in distribution. In Germany, for example, Inhorgenta is extremely important because our longstanding retailers attend. If we want to develop the brand, we need to establish a greater presence at watchmaking’s key venues.

We have done a great deal of work on the product. The two areas of the marketing mix where we now need to place more emphasis are distribution and marketing. We have some very good ideas, but they need to be implemented at the right moment, when we are truly ready. Once again, there is no rush.

Shouldn’t you pick up the pace in an increasingly fast-moving and competitive world?

When brands produce too much and then cannot sell it, they end up liquidating stock. That gradually destroys their brand equity. We produce around 20,000 watches a year. We could perhaps produce 30,000, but we do not want to go down that road. The group’s support allows us to move forward with confidence.

How are your operations organised today, particularly when it comes to movements?

More than 95% of our movements today are quartz. We work notably with ETA and Ronda. For automatic watches, we use Sellita almost exclusively. For the Sport Classic Chrono that we are relaunching this year, however, we chose Dubois Dépraz. The aim was precisely to move gradually upmarket. But Ebel has no intention of joining the race to become a manufacture.

Why?

Ebel has, of course, had some very fine movements in its history, notably Calibre 137. But our philosophy — Beauty Marries Function, or the idea of the “Architects of Time” — lies more in bringing aesthetics and functionality together. We want to remain in an accessible segment while gradually offering greater horological substance.

That could take the form of special series or small collections built around a particular movement, for example. It would also allow us to engage more closely with collectors.

As we are seeing, heritage is also becoming a way to reach a new generation…

A new watch can lead a young customer to discover Ebel’s entire history. But to bring heritage to life, you first have to respect it. The historic building we are in, the Villa Turque in La Chaux-de-Fonds, is a good example. When we renovate it, we take a very traditional approach, respecting its architectural language.

That is exactly what we are trying to do with the Sport Classic. There is a real symmetry between the way we treat our architecture and the way we treat our watches.

What exactly does your “Architects of Time” concept mean?

The architect’s philosophy is very interesting. When architects design a house, they have to make aesthetics and functionality work together. It is exactly the same with a Sport Classic. The visible screws on the watch are not merely decorative. They actually secure the bezel to the case middle.

For me, that is Ebel’s philosophy: every aesthetic element must also have a function. And that idea has been there since the brand’s beginnings. Eugène Blum was, in a sense, the technician, while Alice Lévy was more responsible for design. That complementary relationship is at the heart of the house.

Two-tone is another strong Ebel signature…

Around 75% of our sales today are in steel and gold. At Ebel, two-tone is almost part of our identity.

What price segment do you occupy today?

The heart of our range sits at around CHF 3,500. Entry-level prices are around $2,000, and we can reach CHF 6,000 or CHF 7,000 for gem-set, two-tone pieces with mother-of-pearl dials and diamonds. We have tried to preserve that price positioning despite the rise in the gold price.

In the 1980s, our clientele was more evenly balanced between men and women, probably around 60–40. In time, returning to that kind of balance could be interesting.

You are relaunching the Sport Classic Chrono this year. Why this model?

For Ebel’s 115th anniversary, we wanted to bring back an icon of the 1980s. I always describe it as Don Johnson’s watch in Miami Vice. But the same watch could be worn by Boris Becker on a tennis court.

That versatility is precisely what makes it interesting: with its very comfortable bracelet, it worked in a sporting setting just as well as with a smart blazer.

The new Sport Classic Chrono remains very elegant. It measures 40 mm, uses a Dubois Dépraz movement, has a glassbox crystal and returns to a very simple white dial that clearly recalls the original. Above all, it retains the bracelet, one of the brand’s most immediately recognisable features.

When we accelerate Ebel’s development, these are precisely the authentic signatures we will need to build on.