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TABLE OF CONTENTS
TITLE PAGE
SWISS LUXURY ..............................................................................................................1
ROGER DUBUIS..............................................................................................................6
THE ALPINA GSTAAD...................................................................................................11
ASTON MARTIN ............................................................................................................14
MANDARIN ORIENTAL GENEVA .................................................................................17
PYRAMID .......................................................................................................................20
REFERENCES...............................................................................................................22
3. For many Swiss, luxury is a heritage. Located in Europe between Italy, Germany,
France, and Germany, Swiss has access to some of the top luxuries in Europe.
Switzerland has been the hub of luxury production for hundreds of years, and has been
considered a rich country with a GDP per capita of $84,815.41 (Worldbank, 2016).
From billionaire bankers to craftsman watch makers, Switzerland has always had
citizens that want luxury. For many luxury consumers in Switzerland, luxury is linked to
their heritage. In 2014 Deloitte, the leading consulting company in Switzerland, found
that 51% of high earners prefer purchasing locally made items over their foreign
counterparts. This is 8% more than the European average, which places heritage at the
top of the luxury consumer’s values. They value the history behind each luxury
export, from chocolate to watches- everything has a story. Value is placed on how well
a company has performed and the crafts they make. Items that tie to history also have
a status symbol attached to them.
In Switzerland status symbols appeal to the consumer, much like they do in
America. A Swiss man was quoted by Forbes saying: “You aren’t taken seriously in
business in Europe if you don’t have a good mechanical watch.” A watch can tell
people a lot about the wearer, especially their status in society. Someone wearing a
$10,000 watch is distinctly different from a person wearing a $300,00 watch, and
people will treat you differently in business in Switzerland for it (Forbes, 2013). The
4. personality of a brand has a huge effect on which company a person will choose to
wear. Quality comes with a price tag and a label, and the Swiss can tell from a mile
away what brand someone is wearing and their status in society.
Quality is held above all else, especially when it comes to craftsmanship. Swiss
love technology, but they will quickly go for a less technologically advance car such as
the Aston Martin- simply for its craftsmanship. 45% of Swiss buyers report that they
look for value when purchasing luxury items (Deloitte, 2014). Not only are they looking
for the value of the product, but also the experience that is linked with the product. The
22% of Europeans prefer to purchase their goods online, while only 14% of the Swiss
purchase mostly online. This comes down to the fact that only 15% of luxury consumers
use the internet to research products (Deloitte, 2014). Those who live in luxury, know
where to go and which channels to get it through and do not depend on the internet to
get this knowledge.
Those who live in the life of luxury are not few and far between in Switzerland.
In 2015, there has been 50,000 new millionaires in Switzerland. About 12.7% of the
households in Switzerland are worth over one million dollars. While there are many
millionaires, Switzerland only represents about 0.1% of the population of the world-
while they control about 1.7% of the wealth in the world. Most of the millionaires are
above 65, but the segment that spends the most is under 45. These members of
Generation X have most of the spending power in Switzerland, which means there has
been more marketing towards these younger clients. Much like their older counterparts,
they focus on the heritage of companies, but unlike their older counterparts they are
more open to new businesses.
5. 45% of these millionaires are self-made,
which means they are more likely to have
purchasing power in new start ups. While they
do enjoy their classic luxury, they are open to
wearing a new watch brand as well as their
classic watches. The character chosen to
represent the Swiss luxury consumer is a
male, referred to as Falco, is one of these
self-made millionaires. Like many of the
Swiss millionaires, he has a higher education
and is involved in the Swiss banking industry.
Falco is married with children, and is a fierce family-oriented husband. Much of his free
time is spent with his family on their vacations. He is also a Christian, as many of the
Swiss are, and values morality from brands. Falco’s family worth is $4 million dollars,
which he made himself. Like many of these up and coming millionaires, Falco is 35
years old. As a business man, he values how he is presented to colleagues and the
lifestyle his family presents to the rest of society. His luxury buying values match with
those of the average Swiss buyer, and is very dedicated to supporting new brands in the
Swiss marketplace.
Much of the luxury market in Switzerland is word of mouth, but there are key
influencers that are ironically mostly online. One of the top watch bloggers, A Blog to
Watch, has a huge effect on the watch industry in Switzerland. Since 2007, they have
been the leading reviewer on new luxury watches and their opinion is one of the few that
is trusted. This blog is taken quite seriously in the watch industry as it is one of only two
bloggers invited to the prestigious SIHH (Salon International Haute Horlogerie Geneva).
SIHH is invite only, and would also be considered a key influencer on the watch market
in Switzerland. The news that comes from this event is the most up to date and prized
6. watch industry information, every luxury watch brand brings the very top new pieces to display.
Another top influencer, is the Swiss billionaire Ernesto Bertarelli, who is valued at $8.6 million
(Forbes, 2016). He is currently the top earning person in Switzerland, which leaves him with
every businessman’s eyes on his trending purchases. While Bertarelli is not self made, he is
knowledgeable on the luxury market.
These aspects of the luxury market in Switzerland makes up the values and buying
choices for the Swiss. Even with some of the highest earners in the world, the Swiss luxury market
has seen a downward turn due to the rising price of the Swiss Frank (IBT, 2014). Instead of buying
the product in Switzerland, many lower end luxury consumers will travel outside the country to
get their luxury at a lower price. Swiss consumers are 33% less likely to purchase large purchases
than their European counterparts (Deloitte, 2014). No matter the downward turn, the Swiss
market is still one of the most valued watch markets in the world. With this lack of large
purchasing need, the need that the Swiss do have- are turned towards Swiss made products.
8. Roger Dubuis founded his namesake watch brand in 1995. Compared to some
of the older Swiss manufactured brands, such as Patek Philippe founded in 1839, it is
considered an up and coming luxury brand. Heritage is one of the top values that Swiss
take into consideration when it comes to purchasing luxury, but Dubuis has situated
themselves to get around the fact they’ve only been around 26 years. While making
standard timepieces, they have become the leading couture watch of Switzerland. Not
only are they taking leaps and bounds with new designs and pushing the envelope, they
follow a strict code of ethics that appeals to the younger generation.
Being responsible and socially sensitive
requires attention and an adequate
commitment from each and every member of
Roger Dubuis. Taking care of the communities
around which we operate as well as acting
with an acute sense of responsibility
towards our environment, are as many
important milestones for our company.
-Jean Marc Pontroué
CEO of Roger Dubuis
Dubuis focuses on providing a hand made product that is not only beautiful, but
environmentally and socially sound. Being responsible is one of the top values of Roger
Dubuis, and the customer appreciates the work and thought that goes into production.
Being a part of the Responsible Jewelry Council, they are held to the standards of:
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9. “promote ethical, social and responsible parctices, in a Human Right respect on the
whole gold and diamond supply chain, from mines to retail” (Roger Dubuis).
Along with this need to be responsible jewelers, Dubuis boycotts all blood jewels taken
out of Myanmar since 2007. Having this integrity adds to their worth as a luxury
company by those who are eco-friendly.
While there are many boutiques around the world, not everyone can afford
a Roger Dubuis piece. An entry piece begins at $13,000 and some of the top scale
models can cost over $300,000. One of the top pieces in their collection is called: The
Knights of the Roundtable II. This piece’s price begins at $280,000, while there are only
28 pieces in existence. Roger Dubuis is known for making exquisite pieces but only very
limited pieces, making it very exclusive. This piece is handcrafted, and each of the 12
knights is hand molded and designed from bronze, which is impressive since they are
only 6.5mm in height. Detail work that goes into this piece makes it stand out amongst
competitors, as it takes one month to complete two dials. The dial on the Knights of the
Roundtable II is crafted from black jade, giving the piece a great historical feeling.
Inspiration for this watch draws from the King Arthur tale, as the legend goes: ‘12
Knights took the oath of allegiance to King Arthur, swearing to spare no effort, overcome
any obstacle and return triumphant’ (Goulard, 2015).
As heritage is a major aspect of Swiss luxury, this piece lends itself to
connecting with our historical references to get around the lack of extensive Dubuis
heritage. This watch has the craftsmanship that every Swiss luxury consumer would
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10. want. Experiencing the Roger Dubuis watches begins in the store, which all have the
same feel to them to make the transition from store to store flawless. They have a very
old boys club feel to them, making the clientele feel as if they were apart of a prestigious
club. Every client is walked through the craftsmanship of each watch and is recom-
mended a time piece that best suites their need.
Falco, our Swiss consumer, would prefer wearng a Dubuis watch as a statement
piece. He is a young millionair who connects with the younger luxury market in
Switzerland. He appreciates the hand crafted value of the piece, it is a piece of art to
him. He values knowing the time and effort put into each piece, and knowing it came
from responsible means.
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13. Located in hills of Gstadd, Switzerland is The Alpina Gstadd, a luxury boutique
hotel. This hotel has 58 rooms, 11 apartments, and three chalets but extremely tailor
services. The building of this hotel remained under secret and was rumored to cost $336
million to build, up until the opening in 2012. Upon arrival to Gstaad, clientele can either
travel to the hotel by train or car- but for the more discreet, they offer helicopter and
limousine service to pick up guests. This boutique hotel takes privacy and accommodation
to the highest level with the “Silent Badge”. This badge allows guest to talk around the
property wearing either a badge or bracelet that expresses to other guests and workers
that they would like to have the utmost privacy.
The Alpina has been described as “the birth of the new classic” (Gstaad, 2016),
due to the quality of architecture that has been put into building the hotel. Built by
Chaletbau Mattie, the golden standard for chalet architects, the hotel has a very
classic design. Incorporating the natural stones and woodworking of Switzerland, it
greatly appeals to the heritage that luxury clientele craves. The hotel features a cigar
lounge, which the architects of the hotel visited many cigar lounges in Havana before
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14. creating, a private spa, a private theater, two restaurants ran by a two Michelin star chef,
and a 85-foot Japanese pool (Forbes, 2013). The craftsmanship that goes into every
aspect of this hotel is entirely luxurious, no detail was overlooked while designing this
hotel.
Staying at The Alpina Gstaad could run a client anywhere from $533 a night to
$21,000 a night. Each room is noted to be spacious, but nothing compared to their
Panorama Suite. This suite has a 360-degree view of the glaciers and scenery around
the hotel at a shocking 4,305 square feet. This costly room is two stories tall, while have
a private terrace, spa, and fitness center in addition to being two rooms and having a
walk in closet and a luxurious bathroom. If the Panorama suite doesn’t suit the taste of
the client, and they are looking for something more romantic- then The Love Suite by
Kiki De Montparnasse might suite their needs. A partnership with the artist Kiki De
Montparnasse, the client is given open access to a luxury line of lingerie and her line of
bath and home products made from the highest quality.
Unlike Dubuis, the Alpina Gstaad does not advertise. Those who stay there have
the knowledge of it from their societal circles. Many of the reviews come from luxury
reporters who stayed there, and much of the information is spread from word of mouth.
Alpina Gstaad remains private and withholds much of their information that is not lo-
cated on their website. To our Swiss luxury consumer, Falco, this relates to his need of
privacy for himself and his family. The ammenties have something for every member of
his family, and he feels safe and comfortable knowing that his privacy is of the utmost
importance to the staff.
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16. Handcrafted in England, Aston Martin is the most imported luxury car in Swit-
zerland (Aston Martin, 2012). Having a long line of heritage and personality, the Aston
Martin is perfectly segmented for the Swiss market. To simply put it, Swiss men want to
be James Bond. The brand is known for it’s classic and sleek design and performance,
which keeps to their historical roots. Driving an Aston Martin down the street is an
automatic sign of where one sits in society, which the Swiss value. Being surrounded
by some of the top of the line car production companies such as Germany and Italy, why
would the Swiss prefer a British car?
Craftsmanship sets the Aston Martin apart from a Mercedes or BMW, keeping it
in the top
value for the Swiss. Aston Martins are handcrafted at their headquarters in Gaydon in
England. With a team of about 1,600 skilled craftsmen, they only produce about 4,000
cars a year. In 2014 there was 2,845 cars in Switzerland which is a 125% increase since
2007 and has continued to have a healthy growth since (Amorim, 2015). The l
imited number makes this car quite exclusive when it comes to ownership. Each car
takes about 200 hours to create and build, and 50 of those hours are dedicated to just
the paintjob. 75% of their production is exported, and about 40% of those vehicles are
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17. exported to countries in Europe (Boyce, 2013). An entry level price for an Aston Martin
is $118,000 and can reach up to $1.85 million (Forbes, 2014). The highest end price is
based off the Aston Martin One- 77, which there are only 77 pieces created.
Aston Martin does not advertise very often, ad when it does it uses celebrity
indorsement. For Switzerland, they speak French, Italian, and German- so
advertisements from that country are often used when targeting the Swiss. For the most
part Aston Martin’s are advertised by their owners simply by having them it boosts their
reputation amongst the Swiss clientele. Falco values this brand because it is a status
symbol and is crafted to perfection. He doesn’t care for the technology behind the car,
just the value it has as a piece of art and brand.
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19. Established in Hong Kong, the Mandarin Oriental Hotel is a well established hotel
chain that has expanded to Geneva. The hotel has 189 rooms with a price range from
$500 to $18,000 a night. The Grand Presidental suite has a 360 view of Geneva and
five bedrooms. With two living rooms and a large terrace, the grand suite represents
more of a home than a hotel room at 5,436 square feet of space. The hotel breathes a
more typical classic hotel feel, not fitting into the Swiss feeling that the
Alpina Gstaad has. Also unlike the Alpina, the Oriental has more information on their
website and more chains around the world. Privacy is important, but they do not take it
to such a high extent like the Alpina.
Accomedations is where the Mandarin Oriental shines in the Swiss values.
Everything can be personalized, from the menu to your entertainment. Personalized
menus are prepared by Thierry Marx, a Michelin star chef. This dinner is a six course
meal for two will run the client $1,400. While a custom Chopard experience will start at
$2,000. This experience caters to the Swiss experience while partnering with a popular
brand. The client leaves from the hotel in a limosine to the Chopard atelier and museum
to have a private tour and exclusive access to the collection. There are also seasonal
event such as an Easter family event that will run a family $800.
On the property there is a fitness center and a salon that they refer to as the
“beauty studio”. This studio is partnered with the Geneva based company L. Raphael
and has treatments that run from $115- $300 per treatment, while some of the more
extensive treatments are by request.
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20. Compared to the Alpina, it is not at the same level of Swiss luxury based on the
exclusivity. As a chain brand it is easier to get a room and the services are more acces-
sible by all the guests. There is nothing that sets the lower to middle upper rooms from
each other. The Grand Presidental suite is nothing compared to the Panorama Suite at
the Alpina Gstaad when comparing amenities and services.
Falco enjoys taking his family to the Mandarin Oriental when they want to go to
Geneva to go shopping. For holidays they will come to enjoy the seasonal events they
throw. Falco also enjoys having his foreign guests stay here so they can have meetings
in the board rooms and ballrooms. He enjoys his amenities and always knows where he
can go to get the services he wants.
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23.
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