PATRIC ZINGG
Managing Director, PEQUIGNET
Pequignet was founded in 1973 by Émile Péquignet in Morteau. How does the brand keep his vision and the tradition of French watchmaking alive today?
In 1973, amid the quartz crisis. Emile Pequignet founded the eponymous brand. His drive was all about creativity and speed to overcome a challenged economic landscape – he was amongst the first to elaborate timepieces with a sense of fashion. Emile Pequignet: Artist
Since the early 2000s, the brand transformed into a Manufacture and therefore vested its focus (mostly) on developing mechanical movements. Manufacture: Engineer
The assets of the brand have now been merged to become “Pequignet: Artist & Engineer”, achieving mechanical cinematography.
Early collections, like the Moorea and Equus lines, were known for their distinctive design and equestrian themes. How do these historic designs influence your current collections?
Emile was, is and will always be a passionate equestrian. He brought “his sport” into the company - the Equus line was born. And Moorea became an instant success mostly because of the design of its iconic bracelet.
While certain models from our archives keep inspiring us - our focus for now (and tomorrow) being to amplify our Manufacture - we decided to align our cases and dials with our movements.
For instance, the Concorde collection (Calibre Initial), which was launched in 2023 to celebrate our 50th anniversary, went through a very similar thought process than the Moorea line – strong design identity, modern and sleek with a comfortable and ergonomic bracelet.
More recently, we offered an extension of the Royale line, consisting of a redesign and more compact 39.5mm case, available in different color dials, with various complications.
In the 2000s, Pequignet transitioned into a full watch manufacture, leading to the launch of the Calibre Royal® in 2011. What challenges and opportunities came with this bold move?
If I remember correctly, the decision happened at the same time as ETA restricting access to its movements - there you go! Freedom or independence, which comes at a prohibitive cost - a massive opportunity and no less of a challenge.
The Calibre Royal® integrates multiple complications on a single plate. How does this set Pequignet apart from other haute horlogerie brands?
Two options were available: one consisting of adding modules and another consisting of integrating multiple complications on a single plate. We opted for the latter to allow us to play with (our own) architecture, while controlling the thickness of the final product and to keep the crown centered. An additional perk is lower energy consumption than with modules.
Pequignet is one of the few fully French haute horlogerie manufacturers. How important is this “Made in France” identity for the brand today?
Today, more than “Made in France”, I would say “Manufactured by Pequignet”.
Not trying to be funny, I am just highlighting the fact that there is still a lot to do to strengthen the label “Made in France”. I see it as an opportunity – a mission - for Pequignet to help establishing industry standards respecting the highest criteria. To have strong French norms is therefore extremely relevant for Pequignet but also for all the other brands.
The brand has been awarded the EPV (Entreprise du Patrimoine Vivant) label. How does this recognition influence your strategy and appeal to collectors?
Indeed. This year, Pequignet has been awarded EPV for the third consecutive time.
It is the result of our strategy that allowed us to be EPV since 2014 – focusing on the essentials such as redefining artisanship, developing or improving watch movements, forming apprentice on a year-to-year basis, participating to the local economy, etc.
We hope that collectors, and our clientele in general, will appreciate our efforts to promote craftsmanship rather than marketing opulence.
Pequignet remains independent, rather than part of a large luxury group. How does this independence shape your approach to product development, marketing, and global growth?
As mentioned earlier, independence is a great asset. It allows you to think freely, it forces you to be creative and geared towards excellence.
It also means that every single decision taken puts the company at greater risk.
In terms of marketing, we have two vehicles; first the product, which embodies the values of the brand. Then, we have “the team and me” being on the field, present as much as possible wherever our audience is to ensure our mission is clear – dialoguing about re-igniting French Horlogerie.
Moving to in-house manufacture and complications required significant investment and carried risk. How has Pequignet navigated these financial and operational challenges over the years?
I was not there at that time; some colleagues were, though. And from what I know, moving from a brand assembling watches to an in-house manufacture shows serious commitment with a little bit of imagination.
You start with designing your thoughts on paper, challenge assumptions, develop tons of prototypes and reengineer them. You must run thousands of tests, assess the results, and identify the challenges to correct them. Once done, you start again to confirm the initial results.
To put it into numbers, more than 100 prototypes, 17 binders to store the technical drawings, about 30 engineers and watchmakers dedicated to the Calibre Royal over a period of 5 years. And in the meantime, you must run a business.
These financial and operational challenges led us to a critical cash flow situation. In 2017, managers with enterprising spirit decided to do an MBO. Today, with the financial strength of Maisons & Manufactures (ex Enowe Excellence), we have the muscle to implement our vision and bring the Manufacture to the next level – step by step.
Expanding internationally is a key focus. Which markets are you targeting, and how do you ensure growth while maintaining French craftsmanship and identity?
Since its inception, the brand is active in Europe – mainly France, Benelux and Portugal.
In 2012, with Pequignet shifting into a manufacture, Japan became another key market – their love for France and qualitative products are both relevant assets. Today, our main goals are to support the existing partners, to further expand our presence in the Middle East and to open the US.
In addition, we also started promoting our collections internationally through our online platform.
Lastly, thanks to the support of our shareholder, we opened a boutique in Paris in which we share our craftsmanship with watch enthusiasts and original Pequignet lovers.
How do you see Pequignet positioning itself in the high-end watch market — as a collector’s brand, a luxury alternative to Swiss watches, or both?
It depends. An interesting product idea can come at any time. And in that case, we develop it even before thinking of its positioning. In most cases, though, we design and produce our watches with pre-defined criteria: qualitative, with great attention to details and fresh. It is barely about being an alternative to Swiss watches; it is more about reviving the history of watchmaking, which happened to be French (and British).
Looking ahead, what are the brand’s top priorities for the next five years?
Ensuring we keep all jobs in house – potentially hire new FTE. Maintaining and developing a regional industrial watch landscape. Re-igniting French Haute Horlogerie
For that to happen, we must grow our presence and visibility in some markets through interesting and surprising products.
How do you envision Pequignet evolving while staying true to its heritage and technical ambition?
Thanks to strong designs and massive creativity, French watch brands are on the rise. To build upon this momentum, it is paramount to also invest in an industry that has been neglected - loss of talent (to our neighbor) and local artisanship disappearing. Hence, our levers for evolution are twofold; 1) to revigorate an industry and animate our manufacture to supply other Franch brands 2) to develop a selection of products while focusing on two- or three-lines max.
For collectors and watch enthusiasts, what makes Pequignet a “must-watch” brand in the world of French haute horlogerie?
In a world of Haute Horlogerie (French or not), Pequignet offers watch enthusiasts - in love with intimate luxury with a twist - a fabulous movement signaling knowledge and emotional craftsmanship.
