Richard Mille isn’t worried about the Apple watch


It also launched a new $750,000 watch for tennis great Rafael Nadal – which he wore to win the French Open and U.S. Open this year and reach No. 1 in the world — and it also instantly sold out.

“Unfortunately, I make some enemies,” he joked. “But I have no choice because the watch is complex. It’s a long development. Each niche I enter with a watch, I want to be the best.”

This year the company will produce around 4,000 watches, up from around 3,600 last year, Mille said. In 2018, he expects to produce around 4,600 watches.

The retail value of the watches that Mille will export this year will be around $700 million, he said.

Swiss watch sales have been in decline for more than two years, weighed down mainly by slowing demand from China. But while the industry has largely paid lip service to the threats from Apple and other smartwatches, there are growing concerns that the decline may be more secular than cyclical, as younger consumers opt for smartphones or smartwatches to tell the time.

Mille said his company has become the favorite “dream watch” for younger consumers because he’s revolutionized the mechanical watch. Rather than using gold or diamonds to make a watch valuable, he uses space-age materials, like TPT carbon, TPT titanium and graphene, to make watches lighter, more beautiful and able to withstand shocks during sports or regular use.

The age of buying a big gold watch to pass to your children, he said, is quickly becoming passe.

“My clients want very light pieces, easy to wear, you can play golf, you can do anything. I hate the idea that you put it in a safe waiting for the next generation.”

Mille said he generally allocates a third of his watches to the Americas, a third to Europe and the Middle East and a third to Asia. But this spring, the company plans to open its largest boutique in the world in Manhattan.

“It’s going to be something special,” Mille said.

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