Vacheron Constantin CEO Louis Ferla Says Staying ‘Client-Centric’ And ‘Authentic’ Are Key To Growth

For a venerable brand like Vacheron Constantin that is nearly 270 years old, being on board as its leader for just five years is almost an insignificant amount of time. However, in his five-year tenure as CEO (since 2017), Louis Ferla has propelled the brand forward in a host of ways that are gaining the company more visibility – and loyal followers — than ever. Recently, I had the rare opportunity to talk one-on-one with the articulate and amiable Ferla about the exciting growth of the brand in the past few years and the challenges ahead. 

For quite some time, we lingered at the recently opened Vacheron Constantin flagship store in New York, where the brand made a huge impression upon opening with an important city-centric art installation inspired by Chris Burden. That was followed by an exhibit of photographs from explorer and National Geographic photographer (and a Vacheron Constantin brand ambassador), Cory Richards. At the time of this interview, the store had just installed its Celebrations exhibit inspired by pop art. That exhibit is up through March 31. 

Naturally, it made the most sense to start our conversation talking about the huge presence Vacheron Constantin achieved with its new two-story flagship boutique and its growth plans in America, where e-commerce had just came into play and other boutiques openings were in progress. 

“To remain genuinely accessible and still fulfill the expectations of our clients. The other challenge is to continue to transform the Maison while remaining relevant, not radical. It is an evolution. In America, we just launched eCommerce and opened up a boutique in Chicago and Houston, so we are  developing the market at our pace,” says Ferla. “It is about doing it right with the right service, training, people and product. What we do is based on life encounters and we must be the best at our encounters.”

Interestingly enough, following the launch of the “One of Not Many” marketing campaign, and the opening of the exciting new stores with interactive and immersive displays, Vacheron Constantin in America is enjoying more visibility than ever – despite having been an integral part of the US market since the late 1800’s. Many collectors are even discussing whether or not the brand is targeting a new and younger audience. 

According to Ferla, the goal is more about being passionate about communicating the brand message in modern ways. “We are very passionate about what we do. This is a human adventure. Our watchmakers and artisans are full of passions and our customers are, too. They do the research when they are looking to buy a brand like Vacheron Constantin, They explore our world, and they have a level of engagement and repurchase that is very high. So, for us, it is not about capturing a younger clientele; it is about being relevant and making sense in everything we do.  If that attracts a younger audience that is educating themselves and interested in quality, that is great, but for the most part, the average age of our customers remains consistent.”

Guardians of the Temple

For Ferla, the passion inherent in making luxury watches must come through in everything the brand does. “We are the guardians of the temple and want to ensure that we strengthen Vacheron Constantin, but at the same time, while constantly having to innovate. everything we do must make sense for our clients. It is all about being client-centric, and while the visibility of the brand is extremely strong and our clients are very engaged, we must remain authentic and relevant at the same time. To do that we know that everything we do must be about DNA consistency and being true to what Vacheron Constantin stands for, which is art, culture and authenticity.”

To that end, where art and culture are crossroads for the brand, and where visibility and collectability are key, Vacheron Constantin regularly develops collections that are among the most sought-after in the world. Among them: the Les Cabinotiers series of high complications, and the Les Collectionneurs series of refurbished vintage pieces. In fact, the co-existence of these lines goes hand in hand. 

“We are known for our Les Cabinotiers collection of unique pieces. We make very few of them and when clients come to the manufacture, they are surprised by our super modern manufacture designed by a well-known architect, and how advanced we are for being so old. It is not what they expect. They are wowed even more by that, and they usually want to special order a watch. But they have to wait two, three or even five years. So, instead of asking that, we began creating one  collection a year where we produce a few watches that they don’t need to wait for. That is the Les Collectionneurs series. Those vintage watches are out there, and we are finding ways to reshape them and give them another dimension, as well as tell a part of our history. It is history that  defines our past, our present and what we will do in the future. So, by buying, restoring and selling these vintage pieces, we are finding an authentic and relevant way to reach collectors.”

Like everything at the venerable brand of Vacheron Constantin, the Les Collectionneurs series also links back to the brand’s passion for watchmaking and its incredible prowess. According to Ferla, “It also shows our ability in the art of restoration. This is also important because it shows that we will always be capable of restoring a watch made by Vacheron Constantin. To this day, we can repair every watch we have produced since the beginning. Sometimes we don’t have the spare parts, but we will reproduce them. When you buy a Vacheron Constantin, you know that in 50, 60 or 70 years it can be repaired and restored back to perfect condition. We have the know-how and capability of doing that.”

Saying No

As Ferla mentioned, the role of the current helm is keeper of the Maison, protector of the past and a guide to the future. In today’s world that can be challenging, especially with the incredible growth of watch collectors and the shortage of production of some of the finest watches in the world. So, how does he handle new customers and existing customers—especially when he has to tell them to wait for a watch? With commitment and continued conversation. 

“It is always more  difficult to say no than to say yes. It is hard to tell client that he or she must wait 6-months to a year or longer for a watch. So, we have to spend time with them, communicate with them, help them understand why this wait is necessary. They see the degree of excellence we impose on ourselves, not just in product but in the way we behave in every aspect of our business. As our visibility increases, we get more pressure, but the key is to communicate with the client and respond  positively,  even if you have to say no. We engage with them. We also tell them that we clearly don’t want to take their money and make them wait two years. Instead, we take their name and along the way, we  keep nourishing them with content. Then, when watch arrives, we let them know and we deliver. We also tell our customers they don’t have to have a certain purchase history to buy our watches. Every client should be entitled to buy a watch no matter their previous ownership. They just have to be patient. Our watches are pieces of art, and it takes a lot of work and commitment to build them.”

Now, as we see ourselves climbing out of the pandemic, the question begged to be asked: Will the brand increase production. According to Ferla, who has been with Richemont since 2001, “We were almost not impacted by Covid. Our volume of production was stable. Certainly, some of our suppliers were impacted. Every single part is 100 percent made in Switzerland and when you think about the hundreds of tiny parts in every watch – some supplied by local Swiss makers who were forced to close — then sometimes things come to a stop until we can get the parts we need. So yes, there was a bottleneck of production, but we will not compromise on quality, so we produce at our own pace, which is below the demand of the market.”