Indians Deeply Value and Admire Swiss Watch Craftsmanship: Marc Schluep, Co-CEO, TITONI

In an industry often driven by conglomerates and high-octane marketing campaigns, TITONI stands apart as an independent, family-owned Swiss watchmaker, crafting exceptional timepieces in Grenchen since 1919. As TITONI sets its sights on the growing Indian market, GMT India caught up with Marc Schluep, Co-CEO, TITONI, to discuss the brand’s heritage, the challenges the industry faces, and what it means to stay true to one’s roots in a rapidly evolving watch landscape.

After graduating from the University of St. Gallen, Switzerland, Schluep launched his career in strategy consulting and corporate finance, contributing to numerous strategy and reorganization projects, particularly within the retail sector. In 2019, he joined the family business as the Business Development Manager, playing a key role in the leadership transition, alongside his brother, Olivier Schluep, and gradually taking over from their father, Daniel Schluep. Since January 2022, Marc and Olivier have been officially helming TITONI AG as Co-CEOs. Representing the company’s fourth-generation leadership, they are steering the business as an independent watch brand in the global watch industry.

Edited excerpts from the interview with Marc Schluep:

GMT India: How do you balance the company's rich watchmaking heritage with modern innovations?

Marc Schluep (MS): It's a good question. I think it’s important to understand where we come from. I think the fact that we are an independent brand or a family-owned brand influences us a lot in terms of how we take decisions on how we are. As an independent brand, especially as a family-owned brand, we often make decisions with a long-term perspective. 

Through generations, strategies or opinions evolve. When my brother and I joined, we didn’t immediately take the position of leading the company; we were just in the company, discussing strategies with our father, who was still in charge back then.

Since 2022, when we actually took over, our father has continued to guide us. He regularly visits the company, discussing with us what our strategy is, where we want to go, and so on; this fosters a shared sense of contingency. Many employees are involved in this process too. It's just one example demonstrating the strong sense of continuity we have maintained. We have several employees who have worked with us for many, many years. Many of our decisions are made through joint discussions, where we evaluate the best direction to take. Again, this leads to contingency planning and strategic decision-making. I think this is something that makes our brand special.

GMT India: Historically, TITONI has had a strong presence in the Chinese market. How is TITONI planning to cater for the rising demand for luxury watches in India?

MS: Again, you have to understand we are a family business. While we may not be a large-scale operation, our smaller size sometimes requires us to manage resources more carefully. One, of course, doesn't have the resources to serve the entire world. So, in the past, we were focusing a bit more on certain markets, especially the Far East markets. We had to focus on our available resources as well. Now, with a bit more globalisation, things are better connected. So, we agreed that we're now in a position wherein we can target different markets. 

In fact, it's our strategy to target these markets, especially with our new products. I think these are the products through which we can gain a lot of attention in markets such as India or Europe for that matter. I think this helps a lot in building up these markets and finding customers who actually admire our watches. 

GMT India: Could you elaborate on TITONI AG's dual product strategy and the factors that motivated the company to implement this approach?

MS: In the past, in our company, we had a window with many old watches. You could see a big variety of watches, e.g. diving watches, pilot watches, complications, and very simple dress watches. A BIG variety, one would say. But, over the past 25 years, we have narrowed down a bit, focusing more on classic dress watches. In recent years, we felt that we would want to widen our product strategy, especially to draw a bit more younger, a bit more modern watch enthusiasts.

So, we said, okay, we need dive watches, which are mid-sporty, pilot's watches, ceramic or special-material watches with special colours, and so on. I think these are quite relevant to expand our portfolio, gain access to new customer segments or to new markets, and provide the brand with a bit more youthful flavour. Plus, it also shows our versatility.

We have great expertise in developing and producing high-quality watches. And with these watches, especially with the Manufacture movement, we can show our capabilities, our knowledge, and our experience which we have gained over many years. Nevertheless, classic watches are the cornerstone of the Swiss watch industry. They're the main pillar, and I think these will always be there with us.

When you buy your first watch, chances are you will buy a classic Swiss watch. If you buy a second or maybe a third watch or if you're becoming a collector, then you would probably buy something more special. A carbon watch or maybe a ceramic piece. So, that's why we need both these materials.

GMT India: Can you walk us through the research and development process behind TITONI Ceram-Tech and Carbon-Tech watches? Were there specific challenges that led to these innovations?

MS: First of all, traditional materials are great. Stainless steel will be there, and there are not many challenges with this material. However, stainless steel can feel somewhat uniform over time. As we discussed before, stainless steel is excellent for classic watches; its visual appeal can be enhanced by adding a layer of different kinds of coloured coatings. But, if you want to have something really extraordinary, then add a different material. 

As a family-owned company, our resources are comparatively limited. In contrast, companies like Lumerix have vast research and development departments capable of exploring new materials and conducting extensive research. So, when we develop something new, it takes a bit more patience or a bit more time on our part. 

Secondly, we always have to look at what the opportunities are. If you want carbon, especially forged carbon, we can have an idea about what we need to find the right partners with whom we can work together to reach a certain level of quality. It's not that we just say, okay, let's do something new. Let's take whatever material we find and make a watch out of it! Most likely, we'll run into quality issues. 

So, if you want to keep this kind of quality level, which we have, you need to be patient with the whole process. You need to look at the little details. If you make a carbon watch, you need to ask yourself, how can I do it? Do I need different techniques? To get all such things done properly, you need time, you need people with great experience and knowledge, and you need the right partners. I think this is key for us to be able to produce these watches.

GMT India: The new Mademoiselle collection will be launched in April. What kind of potential do you see in the women’s watch category? Also, could you tell us about the new quartz collection for women?

MS: In general, if we look at the watch industry, most designs and offerings cater primarily to men. Unfortunately, this leads to women’s watches being neglected a bit. However, we have always had a women’s model. We think ladies’ watches are set to become an important customer segment in the future. Women value Swiss watch craftsmanship as much as men do, and they deserve access to high-quality Swiss watches. This belief guided our decision, especially after years of focusing on dense models. We felt that now is the right moment to introduce a dedicated range of watches for women.

And you're right, the new Quartile Quartz movement lets us introduce the Mademoiselle at a lower price point, compared with our usual price range; that makes the model a bit more accessible. We want to present exceptional-quality watches at prices that are both accessible and affordable. So, I think, with the new quartz watch for women, we can do exactly that. It's a classic watch that is exceptional but affordable.

GMT India: How does TITONI adapt vintage aesthetics to align with modern design sensibilities, particularly in recent releases like the Heritage Chronograph?

MS: The Heritage watch is actually a perfect example that balances both. Our watchmaking heritage spans over a century. The Heritage collection celebrates this legacy by reviving original designs from the past and reimagining them for the present; we adapt the timeless aesthetics to modern design sensibilities. And we produce these designs with contemporary technologies. Furthermore, we have two versions of the Heritage model — one is very close to the original watch and even showcases the old logo. If you look at the finish of the watch, it's completely polished — this is something which is typical of watches from the past. In other words, we breathe new life into such elements, adapting these for modern times. For a more modern look, we have also made a second dial, a Panda watch face. The case is brushed, which gives the watch a younger feel. So, in the end, we are offering options for various kinds of watch enthusiasts, drawing inspiration from our rich heritage.

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GMT India: How is TITONI integrating new technologies into its watchmaking processes, while preserving the artisanal craftsmanship the brand is known for?

MS: Firstly, as a family-owned company, we have to clearly select what we can do and what we want to do, and not go completely out of the box with regard to what we can do. We really like to make high-quality watches. When introducing something new — let's say, we choose to make a wooden watch — the challenge often lies in maintaining the quality. So, you have to find something that combines quality with practicality.

Secondly, costs limit us. Adding a non-standard case, more complications, and special materials is costly. We want to be an affordable, accessible brand. So, our goal is to find materials, but we need to incorporate innovations in a way that allows us to create watches that remain within an affordable price range. I think this is the kind of balance we aim for. But then again, watchmaking is a domain where quality is achieved through years of dedication. It’s the consistent practice that embodies true craftsmanship. This process also relies on building upon past experience and knowledge, carrying that heritage forward into the future. 

‍GMT India: As the Co-CEO, what are the biggest challenges you see TITONI facing in the current global market? Additionally, what is your vision for TITONI over the next decade in India?

MS:  I think this is not an easy time for the entire watch industry. As you may be aware, several markets experience significant drops in volume. We can see that the high-end watch market is performing well, but the volume is dropping a lot. This means for many suppliers of watch brands — be it high-end, mid-range, low entry level — volume is lacking. This is, I think, a big challenge for the entire industry. And I think this will be challenging not only for this year, but maybe for the next two or three years as well.

India is a great country. With the country’s economic growth and increasing appreciation for high-quality watches, I believe there is immense potential for the watch market in India. We can see Indians deeply value and admire Swiss watch craftsmanship. We see great potential in introducing Swiss watches to the Indian market, where their quality and heritage will be highly appreciated. Indian consumers seek excellent value for the price they pay. By offering high-quality watches, we hope to bring joy and satisfaction to our customers here in India.