As the luxury market continues to stagnate, conventional watch makers are in a dilemma, how do they retain their classical roots while trying to appeal to the new generation of consumers? The two brands, Ulysse Nardin and Girard-Perregaux are epitomizing this challenge by instituting changes in their strategic direction to cope with these changes in the industry.

These brands are now headed by the CEO named Patrick Pruniaux and these brands have adopted a strategy of maintaining the traditional art of watch making while at the same time trying to innovate in the watch making industry. This strategy is timely given the fact that the brands are new entities after they were sold by the luxury conglomerate Kering.

The present economic situation has made it necessary to make some tough calls such as implementing the furloughing of employees. But for Pruniaux these are the threats which can be turned into the opportunities for the company’s transformation. The brands are designing watches that would be of interest to the classic watch collectors as well as the new generation consumers who look for luxury in timepieces with a history and a future.

This paper also reveals that one of the most important elements of their strategy is the creation of new materials and technologies. Using the modern technologies such as 3D printing and advanced alloys, these watchmakers are producing watches that not only possess beautiful designs but also have special features that are only possible through the use of advanced technology and yet they still adhere to the Swiss standards of watch making.

Another area of concern is sustainability; a factor that has become more relevant to the luxury buyer. In the same way, Ulysse Nardin and Girard-Perregaux are experimenting with green materials and processes to minimize the firms’ environmental footprint while maintaining the standards of quality and aesthetics.

The brands are also changing the ways they market and distribute their products and services. As they are focusing more on the digital, they are targeting the younger audience and growing their international audience. The concept of limited edition and collaboration with artists and designers is also being used to generate interest and to attract new customers.

Nonetheless, there is hope in the luxury watch market. Mechanical watches as an example of craftsmanship and as a status symbol have not lost their popularity. Thus, the companies are able to meet the consumers’ demands while preserving their brand identity, which will help them succeed in the market in the future.

While the luxury industry pays attention to these trends, the measures taken by Ulysse Nardin and Girard-Perregaux may become a model of how the traditional luxury brands can transform and prosper in the conditions of the crisis. This is a trend that is seen in the luxury industry, where tradition and innovation have to work hand in hand to woo the consumers.