There is a saying circulating on the Internet, "The poor play the car, the rich play the watch". How expensive can a watch be?
Swiss watches, which have long been synonymous with craftsmanship and rich history, are highly sought after by the world's wealthy and connoisseurs. In this historic world of watchmaking, the new brand Richardmill is proud to be a game-changer, rewriting the boundaries between tradition and modernity. Unlike the classic brands that carry the story of the century, Richard Mill has become the new "plaything" of the rich in just 20 years thanks to his innovative design, the use of cutting-edge technological materials, and the relentless pursuit of extreme precision.
At the beginning of 2024, Morgan Stanley's recent Swiss watch sales report showed that Richardmill not only consolidated his position among the top ten Swiss watch brands with his excellent market performance, but also became the only luxury watch brand born in the 21st century, and the other nine brands have a long history of more than 100 years. Ricchamir's turnover reached 1.54 billion Swiss francs (equivalent to about 12.3 billion yuan) last year, and its share in Swiss watches increased from 2.7% to 3.1%, surpassing Longines, Vacheron Constantin, Breitling and other well-known century-old brands.
ACCORDING TO PUBLIC INFORMATION, RICHARD MILLE WAS FOUNDED IN 2001 WITH THE GOAL OF CREATING A NEW AND ADVANCED LUXURY MARKET IN THE HIGH-END WATCH INDUSTRY. For the brand's founder, Mr. Richard Mille, this was not a hasty and impulsive decision, but the inevitable result of decades of experience accumulated through countless prestigious projects created, managed and developed by several watch and fine jewelry brands. His deep fascination with technology, his expertise and personal love of racing, and the exhilaration, combined with his taste for design and ergonomics, meant that no wristwatch could truly meet his expectations.
The average price of a watch is more than 2 million yuan
The average unit price of Richard Mill's watch is as high as 275,000 Swiss francs (equivalent to about 2.19 million yuan), which is 22 times the unit price of Rolex, and an expensive watch is worth more than 30 million yuan. The distinctive nature of the watches lies not only in their intricate mechanics, aesthetics and ergonomic shapes that conform to the wrist, but also in the grinding and polishing processes carried out by professional craftsmen with extraordinary patience, keen eyes and dexterous hands, so that each part is up to standard, and the products are often released in "limited editions".
Star effect with new accessories for young rich people
The success of a brand is inseparable from its extensive influence in celebrity circles. Richard Mill cleverly used the star effect to establish collaborations with top figures in the world of sports and entertainment, such as tennis king Rafael Nadal, F1 drivers, Hollywood stars, etc., who are not only the spokesperson of Richard Mill, but also the communicator of the brand concept. These celebrities wore Richardmille watches on important occasions, which invisibly gave the brand a high exposure and topicality, attracting the attention of a large number of young rich people and trend followers. With his unique design language and support for extreme sports, Ricchamir has managed to build a resonance with the younger generation and has become the most successful luxury watch brand of the 21st century.
Industry insider's comments: The key to Richard Mill's rise to become a shining star in the luxury watch industry in a short period of time lies in his multi-dimensional success strategy. First of all, the limited release model not only ensures the scarcity of the product, but also enhances the brand sense of exclusivity and collectible value. Secondly, the cross-border co-branding cooperation with top brands such as McLaren Racing and Ferrari cleverly integrates the passion of luxury and speed, and broadens the brand influence. Sponsoring top athletes, such as those on the field, not only validates their durability and athletic performance, but also significantly increases global visibility through star power. In addition, Richard Mill dared to push the envelope, combining creative design with the use of innovative materials to create a "Formula 1 on the wrist" that was both light and tough. It is these avant-garde designs and meticulous attention to detail that have built Richardmill's unique brand charm, allowing it to find the perfect balance between tradition and modernity, and successfully capture the hearts of young wealthy and trendsetters around the world.