Celebrities such as Olympic snowboarding champion Anna Gasser, actor Tobias Moretti and even Hollywood star Kevin Costner promote the Carinthian watch brand Jacques Lemans, which sells almost a million wristwatches worldwide every year. How the company wants to expand now.
Hand on heart: If you have two watches in front of you and one is labeled ‘Alfred Riedl’ and the other ‘Jacques Lemans’ – you would probably choose the French name, which is music to your ears. That’s what Carinthian Alfred Riedl thought when he decided to enter the watch business fifty years ago: “That’s why I chose a French fantasy name for my company.”
Market leader in the price segment between 100 and 500 euros
His success proves that he is right: “In Germany and Austria, Jacques Lemans has been number one in the price segment between 100 and 500 euros for 25 years, because our price-performance ratio is very good. In total, we are represented in about a hundred countries around the world, even in Vietnam, where our brand is as important as Rolex anywhere. For example, we are licensees of UEFA, whose Champions League watch we produce. We recently signed a three-year contract with UEFA.” The Champions League watch (see photo) costs 249 euros.
What the trained electrical engineer Riedl is particularly proud of: “We have been working without credit for 35 years – we have earned everything we invested in advance. And: twenty years ago I first received a phone call asking if I was interested in investing or going on the stock exchange. But I always wanted it to remain a family business.”
Annual production fell from 1.2 million to 900,000 units per year
Of course, competition from smartwatches such as the Apple Watch also hit his Jaques Lemans GesmbH, based in St. Veit an der Glan. Riedl: “Ten years ago we produced and sold 1.2 million watches, today we have an annual production of 900,000 pieces.”
But now the entrepreneur, who employs around 140 people in Austria and 250 at the production site in China, wants to expand again – especially in France: “From the autumn we want to roll out the French market and later also the Spanish market. Because if Jacques Lemans is a big name in Germany and Italy, why couldn’t it also work in France? The most important thing is that you have the right partner locally!” But it is also gaining speed in Asia, for example in China, India and Singapore, where the company is already active. The stated goal is to increase sales again to 1.2 million units.
Jacques Lemans stores are planned in Berlin, Munich and Hamburg
His watches are mainly sold through specialty stores and jewelers. The company also has ten of its own stores in Austria, for example in Vienna, Graz, Innsbruck and Klagenfurt – and wants more in Germany. Riedl: “We are planning our own stores in major cities such as Berlin, Munich and Hamburg, and there should be about ten stores in total.”
There is further growth potential in the jewelry segment, which Jacques Lemans entered ten years ago. Riedl: “Our range of 850 watches also includes around 850 pieces of jewelry such as necklaces, bracelets and earrings.”
Hollywood stars Kevin Costner and Clint Eastwood as testimonials
For him it is important to collaborate with celebrities who promote his products: “We had a good collaboration with Hollywood stars Kevin Costner, Clint Eastwood and Ron Perlman as testimonials from skier Anna Veith.” In addition to the Villach snowboarder Anna Gasser, he has also brought on board actor Tobias Moretti this year as an advertising medium, who in the future will be seen in brochures, cinema advertisements, etc. with a Jacques Lemans watch on his wrist.
But time doesn’t stop for Riedl, who turns 75 this year, and that’s why he’s giving his three children more responsibility. Son Andreas Riedl (23): “I came to work for the company after high school and have now been doing an internship with my father for five years.”
More responsibility for the three children, who are learning the trade from scratch
His brother Christian Riedl (20) is currently traveling from jeweler to jeweler in Germany to learn the trade from scratch. Alfred Riedl: “I like that, because we live from sales. I can have the best watches, but if I have bad sellers it won’t work.”
Daughter Michaela Riedl, who turned 25 this week, will be responsible for the marketing agenda from June. For Alfred Riedl it is clear: “I no longer have to prove anything to anyone. It’s fun to work with the youth!”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
