Luigi Macaluso owns two watch brands – Girard-Perregaux and JeanRichard. And, as it happens, he has two sons – one to run each of his businesses. KEE HUA CHEE reports.
IN the low-key world of Swiss watchmakers, where discretion, decorum and diffidence are a norm, Luigi Macaluso stands out, if not like a sore thumb, then as a maverick.
First, this architect is not even Swiss but Italian. Then there is the fact that this owner of watch brands Girard-Perregaux and JeanRichard likes to zoom around in an electric-blue Ferrari and, what's more, has met with an accident or two.
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An aggressive corporate tsar who describes himself as “manic”, Macaluso brought Girard-Perregaux back from the point of dissolution in 1992 and has successfully built on its prestigious heritage. Girard-Perregaux produces only 16,000 watches annually and JeanRichard a mere 10,000, but the two watch brands together take up quite a bit of newsprint.
Elder boy
Macaluso's elder son Stefano, 31, an architect like himself, works at Girard-Perregaux. For someone who is something of a speed junkie, having competed in Italian, European and World Championship rallies, Stefano's watch-making career seems to be progressing relatively slowly. Unlike his younger brother Massimo, who is president of JeanRichard, Stefano is merely in charge of Product Development.
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“I need more experience to be president of GP,” he says simply.
“Dad never forced me (to join the family business) but he knew it was a matter of time before I gave up racing and came to my senses, ha-ha. Dad knew I had to get the race thing out of my system and he was prepared to wait.
“Subconsciously I was already preparing for this job, as my final thesis in university was about watch-making! My professors thought it was the weirdest topic for an architect! But they appreciated the similarities between large buildings and small, complicated watches! I did 200 pages on designing a watch, nothing about buildings!”
Since 1992, the Macaluso family has transformed Girard-Perregaux beyond recognition.
“We are now an integrated manufacturer,” Stefano beams. “GP now designs and makes the case, from screws to bolts to movements, and even run the marketing, sales, and communications. It's a 360º activity.”
He may be a watchmaker now, but the racer in Stefano is still evident when he talks.
“To win a race, you must be accurate with the car's set-up; same for watches. The only difference is that while no one expects a driver to make his own car, many expect a prestige brand to have its own movement, which is the heart of the timepiece.”
Girard-Perregaux's bestsellers are its Vintage 1945, WWTC Chronograph, and Three Golden Bridges. “The waiting list for Three Golden Bridges is two years. We can only make 190 Three Golden Bridges each year. I own around 30 GP watches and no Three Golden Bridges, since they are pre-sold in advance. A Three Golden Bridges starts from RM300,000 to RM750,000, whereas a regular GP starts from RM12,000.”
Massimo
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At 26, Massimo Macaluso was already running JeanRichard, making him just about the youngest watch boss in Switzerland. Now 29, Massimo has proven the critics who shout “Nepotism” wrong, because the brand has scaled new heights and increased distribution.
“The three of us, Father, Stefano and I, complement each other perfectly,” Massimo insists.
“I was not a brilliant student and left university at 21, having studied economics and business. At 20, I was already working during the holidays at Tradema, the Italian subsidiary of Sowind Group, which is owned by my father.
“I also worked with Girard-Perregaux in La Chaux-de-Fonds in Switzerland before becoming MD of JeanRichard in 2003.”
Massimo takes pain to point out his family's long links with the watch business, though not as manufacturers. “I am the third generation involved in this industry. My grandfather ran the human resources dept of the biggest Omega subsidiary in Europe. He loved watches and passed the ‘virus' to Father, who then gave it to me!”
Another thing that the Macaluso males love are fast cars.
“We love racing. I raced in Motocross on a Ducatti and dad is a former rally driver. I have competed against my brother. He is faster! I am younger and more stupid as I was involved in three or four big accidents.
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“I was in a major accident during the 1000 Lakes Rally in Finland in 2000. At 200kph I hit a car, jumped off the hill, and flew 50m in the air. My co-driver broke his arm but I was little hurt, so it was a real miracle. Eurosports filmed the entire accident, which is really spectacular and ran that image for one whole year! Yes, that guy flying like Superman was me!
“After that accident, I decided I could not push my luck again. Dad was afraid, as he knows the danger. But speed is a national disease; in Italy, every man loves racing and speeding! Look at the F1 drivers!
“I have a different approach from my brother, he is more rational!” smiles Massimo.
“It is not easy to be accepted. I am the youngest MD in the Swiss high-end watch industry. I try to work hard and not say too much! Dad is the owner so he gets the president's job. I know my father. He trusts me.
“He didn't give me the MD post because I am his son but because he knows I can do it. With my brother Stefano, yes, we have big fights! It took us four years to develop our in-house movement, the much acclaimed JR 1000, able to receive sophisticated modules like chronograph, moon phase, retrograde seconds, etc, to meet our long-term strategy.
“Our best-sellers are the TV Screens and Bressel, which are in the RM15,000 to RM30,000 range.” W
"Conquest Of Time" At KL Convention Centre
Girard-Perragaux is participating in Sincere Watch Limited's “Conquest of Time” exhibition at the KLCC. Covering a massive 25,000 sq ft, the Nov 22-26 exhibition is a watch collector's heaven with 23 brands brandishing their latest wares ala the Basel or Geneva Fairs.
Girard-Perragaux has booked 1,500 sq ft for its Watchmaker's Atelier featuring the makings of the tourbillion, minute repeater, perpetual calendar, and chronograph. On show are the Three Golden Bridges and historically important pieces from the GP Museum in Switzerland.
Their showing is geared towards a non-technical audience, so if you can't tell an escapement from an Equation of Time to the difference between a chronograph and a chronometer, here's the opportunity to learn without being humiliated. Tel: 03-2056 6888.
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