The Business of Watches [033] Guido Terreni (Chief Executive Officer, Parmigiani Fleurier)

This week on The Business of Watches, we're talking to the leader behind one of the strongest turnaround stories in the industry in recent years. Guido Terreni joined Parmigiani Fleurier as CEO in January, 2021 from Bulgari and has overseen a dramatic transformation in the design, style, and fortunes of the brand founded by master watchmaker and restoration expert Michel Parmigiani in 1996, with backing from the Sandoz Family Foundation. Under Terreni's guidance, Parmigian Fleurier has been transformed. Striving to convey the concept of "private luxury," the brand has released a series of surprising, elegant, technically innovative, and yet restrained timepieces under its Tonda PF and Toric model lines.  The brand has done nothing less than reimagine and reinterpret classic complications, including the GMT and, most recently, the Tonda PF Chronograph Mysteriéux, which stole the show, for many, at this year's Watches and Wonders.  In a wide-ranging conversation, Terreni unveils the philosophy behind the brand's discreet aesthetic and the structure behind its manufacture and organization. We discuss retail, production, and design concepts aimed at taking Parmigiani Fleurier to the next level in the hyper-competitive luxury space.   Show Notes:  1:05 The History of Parmigiani Fleurier (company website) 1:38  Global Impact of the Collapse of Lehman Brothers (Harvard Business School) 3:00 Early Parmigiani Fleurier And the Enduring Appeal Of Overbuilt Watches (Hodinkee) 8:12 That Time I Wrote That 'Swatch Group' Was A Dumb Name, And What Happened Next (Hodinkee) 16:42 Tonda PF Collection (company website) 19:02 Hands-On: Parmigiani's New Tonda PF GMT Rattrapante Is The Understatement Of The Year (Hodinkee) 23:50 Quiet Luxury (EFL) 28:10 The Rise And Fall Of The Hype Watch (Hodinkee) 31:08 Tonda PF Minute Rattranpante 31:18 Tonda Chronograph Mysteriéux (YouTube Monochrome) 41:39 Brand retailers 49:36 Toric Collection (company website)