S14 E05: Jean-Bernard Forot, Head of Patrimony at Piaget

[Music] You're listening to the luxury item, the podcast on the business of luxury and the people and companies that are shaping the future of the luxury industry. Here's your host, Scott Kerr. Piaget is among the most recognized luxury watch and jewelry brands in the world. Founded by Georges Piaget in 1874, the company started as a movement manufacturer for established watch brands and expanded into high jewelry in 1959. Many records have been set by Piaget for its ultra thin watch movements and the Maysone is responsible for several iconic watch collections, including the Sportian luxurious polo, the Alta Plano, limelight gala, and the Black Tie and Possession. The company also owns the largest jewelry workshop in Geneva and all stones for watches are cut and set in house, which is exceptionally rare in the industry. Piaget was purchased by Rishmal in 1998. My guest on the luxury item is Jean Bernard Faroe, head of patrimony at Piaget. Jean Bernard has been with the Maysone since 1999, starting out as marketing and creative manager then director of jewelry, high jewelry, and high watchmaking. In the video from 2001 to 2017, Jean Bernard's work resulted in establishing major collections. All of them carry a strong artistic dimension and express true jouage de vivre two concepts Jean Bernard Faroe holds dear. In May 2021, he moved on to become Piaget's head of patrimony and started a new chapter of his long-lasting history with the Swiss company. In his own word, Jean Bernard said his mission as head of patrimony is to promote and sublimate Piaget's culture, family history, and icons. Welcome to the luxury item Jean Bernard. Hello from Geneva Scott, and thanks you for having me. Thank you so much for joining me. You've been with Piaget for about 26 years, 25, 26 years, head of the Maysone's patrimony since 2021. You intimately understand the Piaget brand and its DNA. I think a great place to start is if you could give our listeners an overview of your role as head of patrimony at Piaget and the responsibilities tied to that position. Well, my role is really to work on the equity of Piaget and to tell the story of this Maison. It's the story of a modest Swiss farmer who built over four generations, prestigious watch and jury Maison, re-known for its craftmanship and creativity, a specific creativity blending elegance and extravagance that we name extraleganzas. And you know this equity we still have to build it every day and also to share it. And as I mentioned Piaget has a rich story on four generations without any interruption. Can you imagine how many documents, photos, drawing stories we own? It's so impressive. And above all, we have the great honor to have the regular contribution of Monsieur Eiff Piaget who is living treasure for us. All this creates a unique legacy. And if you allow me to divvy it, it's true that in our daily job we devote a big part to archives. Archives, it means original drawings, notebooks, product sheets, pictures, all advertising campaigns, catalogues that we have to classify to index to product. And also recently we also have started to digitize them to keep, I would say, a contemporary way of using them. And this is the same thing you know we love to interview the retired people because they tell us so much about the company and it's so lively that we also have a great part in registering them. We also have an amazing private collection that the family started in 1991. So just to give you another view, we have almost 1000 time pieces and movements, something like 250, 2L, some artworks and objects also. And so they tell the story I was talking about, but also of the evolution of our crafts, the inspiration, the style, and also the league with famous clients, or artists, both them. And that created the reputation of Piaget. And I can talk about them because you know we have an American DNA at Piaget with amazing clients such as Jackie Kennedy, Miles Davis, Andy Warhol, some others. And also sometimes we also own emotional pieces, such as the first pocket watch that the founder, Georges Duat Piaget, crafted for his wife Emma. So you know it's a mix and it's very comprehensive. Well, the battery money is also something that we love to make it come to life. So that's why we have we are organizing traveling exhibitions in our boutique in some brand events. And sometimes we share also more directly with our clients experiences. Sometimes we sustain some launches such recently with the Andy Warhol watch, or Piaget, Volvo, or 60 or a possession and so on. So it's very interesting to see how heritage is important in the company. And even more recently during the 150th anniversary, we try to see how we can make it a bit more contemporary in the way to express battery money. And we have had the idea to create small videos, small sagas on our history. And you know it was a gathering lots of image because to tell a story from a script to a video you need so many images. And so we have had to go old advertising campaigns, catalogs, and also some pictures on which we had some celebrities. So we have had to contact them or their rightful owner such as Roger Mou, or the other, or the Dalif Foundation or photographers such as Alberto Rizzo. It was a huge work and we have been helped also by some agency because we cannot do everything in house. But it was also very interesting to reconnect to people that was part of the story, even if today, because it's life, they have become older. But it's really important to have that testimony and to finish in our job. We also have an activity of patronage started by the family with the city of Venice, for instance, where Piaget restored the movement of the clock of the tower in Piazza San Marco. Or we work also on Omo Faber, I don't know if you know it, it's an exhibition in Venice also, to preserve metadata. We have also restored the great scale is Ros Gauden in Monaco because there is a deep connection between Monsieur Piaget and the Rose. And just recently we are at the present time working with the museum in La Choudre-Font, La Choudre-Font is a key museum for the watch enthusiasts and the connoisseur. Where they have a huge and amazing exhibition and this year we are participating to the exhibition on the 350th anniversary of the Spiro Spring. You see, it's very different from one day to another and it's what we do at Patrimoni at Piaget. So when Piaget releases a new watch or jewelry design, I imagine the process from drawing to prototype to final product is a collaborative effort. Could you share how you work with other teams and the approach you taking bringing new collections to life? Creation is always linked to emotion, you know, and surprise. And surprise is something that is very key for Stefanie Sivriere, who is our creative director, who is managing the creative studio of Piaget. And we know that this moment is so precious when we have to work on a new collection, sorry, or new creation. Also because one day it will be shared with the client or with the owner. As you said Scott, it's a very creative and collaborative process. And at Piaget we have the chance to all work in the same building because the headquarters is based on the manufacturers in Geneva. We really can gather many expertise. So on the Patrimoni side, most of the time when the creative studio has an inspiration, a brief or a mood board, it comes to meet us and to look, oh, what has been done before? So we prepare gouache drawings, iconography, pieces from our private collection. We can also show what we're doing in the past to appreciate the volumes, the color, the effects on material. And everything can happen during such a meeting. You know, sometimes creation can start from the detail that started recently with a small engraving. That has become a strong pattern named decor palace. You know, it's an engraving that Piaget has been doing since the 60s. But suddenly the creative studio said, well, it should be really amazing to reuse it to amplify it. And then they have used it on high to repeat this is and also on when coming collection such as possession tree, for instance. And it's becoming a major signature in our, well, in our, in our, in our maison in terms of design. Or sometimes they can be also inspired. by previous collection. You know at Piaget we have a collection born in 1969 named 21st century collection and this collection is kind of ding bang for the nasal because it was this collection only made of calf watches and swinging so twals made with amazing color chain making and graving so well so unexpected and in this collection there are full of elements such as shapes and for instance we have the trapeze shape that is very inspiring for the creative studio and that give birth to a new watch named 60 that is launched at this year at watches and wonders it's Geneva which is in wonder is a huge fair for the watching industry in Geneva. So you know the creative process is really starting from many kind of ideas and then of course because we have of course the creative studio but also the marketing the development some art is all everybody can comment at its expertise to try to to make the creative process more performing in one way. So last year was a huge milestone from Piaget as the Mesaon celebrated its 150th anniversary in 1874 Georgia Dwarf Piaget founded a watchmaking workshop his descendants ran the house for four generations and are still associated with it today even though it's now part of the Rishmol group. Piaget started out as a movement manufacturer and was a maker for other brands such as Omega or Cartier over the years before becoming a designer and it wasn't until 1943 when brothers Gerard and Valentin Piaget who were the CEOs of Piaget at the time decided to register the brand as a trademark where did the brothers see the business opportunity to move from a watch movement manufacturer to a luxury brand with the Piaget name on the dial. Indeed this period around the World War II is a very existential moment. I think it's a period of transformation not only for the watch industry but for many industries and you know Scott the two brothers they were young in 1943. Gerard was 26 and Valentin 21. You know so the 30s have been a tough period for both of them but they were already very much engaged in the company from what we can read from the archive. We know that they have helped moving Piaget from artisanal production to semi-industrial production. They have also continued to build the strong reputation of Piaget on ultracing. They have improved the quality thanks to the semi-industrial production. They had a great portfolio of prestigious Swiss Client as you mentioned before and also regular orders from the American market which was less linked with the war locally. So I guess because it's not written but I guess they had a strong confidence and intuition in the development of the watchmaking industry post-war. I think they felt it was a pivotal moment for them because when we asked Valentin Piaget aged of 91 years old in 2013 why did you register the brand in 1943 during the war? He said we were preparing the future. So I think this answer encapsulates the trust in the future and I think a part of the answer to your question is finally in the entrepreneurial spirit of the family. And so when Piaget registered its own trademark in the 1940s most of the high profile heritage Swiss luxury watch brands dated back to the 18th and 19th centuries and Piaget was really the new kid on the block if he will as far as the brand goes. Was that a creative advantage for Piaget? Well I like your expression, new kid on the block. Well if I may use another metaphor to visualize the creative adventures I will come back to ancient Greek concepts of times where Piaget refers more to caros than cronos so more to enjoy old times than to only count time. So I think that when when the Piaget decided to launch itself as a brand in the 40s the mortgage was already busy with major brands offering high quality high precision watches with a strong focus also on functionality such as watches for aviators divers car drivers, militaries, space race and so on. So Valentin and Gio Alpiaji the broke with tradition and the leverage ultracing to impose an elegant true like style finally the decided that watch is a true and this make their creative advantage even if we could consider it as a niche but they wanted or they they feel that the society has evolved and that people will move from work to lifestyle in one way so they wanted to go beyond the time instrument and Monsieur if Piaget always says at Piaget watch his first and foremost a piece of jury so you know from the third to the fourth generation they are never seized to claim that at Piaget they are both cheweler and watchmaker kind of chewer of times and to make it in fact in the in the patrimony we understood that they made around five major decisions to make it come true the first which is still very visible is the fact that they want only to work gold and platinum only precious material they also decided to use ultracing movement to stimulate all kind of ideas for new design and they have well moved to some sleek design very elegant to flamboyance in their in their creativity they have also developed women's offer with really true elegant watches designed for women it was not womanization of masculine model it was really designing for women that's why we had such a huge range in the collection for women they also decided to advertise and communicate not only a product but a sense of style a universe of jury and watch is designed for men and women so when we see their advertising of the time and when I was talking about for instance Albert who reads was a photographer or some others we can really feel it and I think the last decision they took to make make this this I would say fusion or this absence of border between jury and watch is that they opened their first saloon Geneva in 1959 and they launched their first high tree collection so well doing all this in fact this creative advantage made Piagio's exception in one way in the watchmaking universe because they were modern in one way by tradition but in one way they have been avant-garde by conviction if I can say movement manufacturing and the art of miniaturization and ultra thin watchmaking are long traditions of Piagio throughout its history the brand has become synonymous with legendary record-breaking thin watches what led Piagio to pursue creating ultra thin movements well it's it's a very good question I think it's because we trust in is our core business it's the first business of the Maison link to the founder to Georges du who really at this motto always do better than necessary and sometimes just to joke internally we say always to thinner than necessary you know so while for some players maybe trusting is a trend for Piagio it's an identity and it has been so far almost for 150 years if we are talking about movement and 70 years without interruption if we are talking about watches and you know that the treason movement is the cornerstone of the Altiplano collection so I think that also the treason has been able to stay at the trademark of Piagio because it allows in itself in its DNA the elegance and the stylistic signature sorry the stylistic signature of Piagio across generations and I think it's it's why finally the Maison has never decided to go for something else than interesting the actually kicked off its 150th anniversary celebration at last year's watches and wonders with a substantial lineup of timepieces from new concepts updated classics and a range of high jewelry watches how do you go about planning for a big milestone like that that honors the company's legacy while also embracing the future well yes indeed 150 years it's an emotional milestone not just an milestone whether an emotional milestone yeah it's not just your number it had a strong meaning for all the Piagio employees you know and during that route everyday we agree to share our roots where the story begins and how to link it to our present you know within the general management it could be marketing communication sales we were all aligned with the creative vision to show how past and present collide into from voyons at Piagio we were not so much interested to do a chronological narrative of 150 years of history we prefer to talk about what makes Piagio And this creative vision finally has also ensure the currents of the brand's image all the year long because you see that Piagy has been doing so many things that we could have also make a kind of squatter image or blurred image, so it was very important to keep on sticking to this creative vision. And of course, this celebration has been the creative fireworks of novelties, new high-trick collection, major event and exhibition in Paris and experiences for our clients in our network. But I can also share you a more sensitive milestone, but very important wish to buy Monsieur Eiff Piagy and also supported by Bansha Mankomal, our CEO. It was to celebrate for the staff, for the Piagy people, an event in the tiny village at Lakotoufay, in the Swiss Jura, where the family and the brand were born in homage to all those work today, but also for all those was worked before and that also contributed to make what the brand is today. And we were several hundreds of people in this tiny village and I think it remains also for every one of us who have been living the 150th anniversary true connection with the brand, very emotional. And it watches and wonders you showed off the technical watchmaking you're most famous for another record setting ultra thin watch the Altaplano ultimate concept, herbieon comes in just two millimeters thick the same remarkable thinness as the original record setting Altaplano from 2018. However, it now boasts the addition of a termion taking it to a whole new dimension. How did this archaeological feat come to life? So if you agree, I will move from two millimeter thick to two millimeter thinner because when a to be on watch is two millimeter thin all the rules change in data. Well, this has been a strategy can put of course from the top management and the marketing to to mark a special anniversary also for you dressing and for the story of the maize one. And indeed, you know that the to be on is a complication which combines wonderful visual effect you have the feeling to see your heart beating movement. It's also technical challenge and it's very beautiful and appreciated by the watch connoisseur. So well, this achievement follow in one way the impetus that led to the birth of the legendary, you trust in movements such as the 9 p Calibers 9 p the 12 p. And also, if you remember in 2008, the Alti Plano ultimate concept. So well, the you know, we have a interesting laboratory located in Lakotuffy with a team of talented engineers, movement architect and designer. And they have also been working as we were talking before about the creation, but here also they have been working in a strong collaborative process, including also design team and some other teams at many stage because it was so challenging that you know they have also been working on trying out testing ideas, retaining or discarding them. Then starting again over and over again. So of course, there is a method that I've been working with computer, but also with pepper and pencil memory, but also culture. And when I'm talking about memory, I just would like to share this with you with that we have a great watchmaker, Bernard, he was on the way to retired, but before retiring, he wanted to achieve this, Alti Plano ultimate concept to be on. And in fact, he has been working and helping to face some of the challenge, so how to insert a to be when the space inside the watch is already full. So you know, it was if I miss a marise for to answer this question, is that this ultimate concept to be was not only a technical fit, even if it is, but it was also a human challenge that passion makes possible for this anniversary. And when we presented to Mr. if Paget, when it was finished, he said, well, I have nothing to say, everything is said in this watch. So everybody was really at the same time, 100 by the comment, even if probably they would have expected some more some more felicitations in one way. And also brought back the original Piaje Polo, which launched in 1979, it's perhaps its most important design. It's a jewelry watch that's caught somewhere in the beautiful expanse between flamboyance and sophistication elegance and extravagance. What did the birth of Piaje Polo do for the brand in terms of cultural awareness and growth? You are talking about a legion quote, a legion in the market, but also a legend for all Piaje employee. So to be maybe more close to to your question, for me, I have the feeling that the Piaje Polo really positioned the brand on the American market. And also for that that Piaje decided to launch this watch, but also to be positioned in the luxury sports what segment because Piaje, of course, is a European brand and was considered by the American market to be a bit more too much dressy and maybe not corresponding perfectly to the evolution of the American way of life, which was chic luxury, but also daily. So I think it's why this watch has helped Piaje to succeed in the US, but in addition to that, and we will come back to it, but it was the first time that Piaje was using communication and culture of the marketing of the time to support the launch of that watch. And before they were more in a creative process in craftsmanship, they had a crew of grand vonder, but they are never used so much the communication in the way they will do it for the polo. So well, the design of the Piaje Polo is very recognizable, you know, is made of 150 grams of gold. So it's so Piaje, you know, you have this total integration of the bracelet, the case and the dial, this alternating polish and match your faces. So it was a very typical of this watch. It was also featuring at that time the world's thinnest quartz movement, the 7P. Well, at that time, quartz was really a feeling for the young generation. And also, this is the first watch that bear a name in the Piaje history before polo, no watch at any name, only a reference number. And Piaje also become the first watchmaker to sponsor polo tournament with a world cup in Palm Beach, when they use the polo in advertising as a means of communication to raise a profile of its watch. And of course, it was consistent because you know, probably that Mr Piaje loves horses, he has horses, he used to ride so it makes sense for him. And if Piaje also introduced the Piaje polo into the jet set, associating stars with the world of luxury sold such as Andy Warhol, Brookshield, your cilantro, Roshim, your beyond ball, Samydevis Tuner. And also all those famous people have learned the legendary polo. And for the small story because I take advantage of this postcard, but you know, we miss, we miss to polo watches in the 1988 Susbis auctions of Andy Warhol because he used to own warhol. So if somebody is listening and know where they are, we will still be looking for that, so we will be very happy to be connected. So well, I think that what Piaje promoted for the very first time more than a watch, they promoted the lifestyle. And we consider all what I've been telling you that was made 45 years ago, we can feel that the Piaje family and the American world market agent, sorry, the American agent, they were very forward thinking because it resembled on what we do today that we named 3360 degree activations, but at that time it has no name, but it was just for them, I would say many elements to create a sense of the world. And many elements to create a success, but I think it's very bright. And it's true that for our 150th anniversary, we were talking about the ultimate concept to be on that we were also surprised to relaunch this Piaje watch, which is a legend. Of course, the new name is Piaje Apollo 79 and it's a return to well, the true expression of the original design with a larger size, because it was 34 millimeter and nice is 38 millimeter for the dial. And of course, we have moved from quartz movement to neutral, automatic movement, the 1200 P1 and without being superlity, the success of the watch has been emitted. I think it's probably because this is the true appeal of an iconic model that may happen also for many other Maisons in the world. and leather, in fashion, or in nature, in watches. And I think that this model still carries a sense of distinction, is still a statement piece today. And for me, when I was presenting this watch to some clients or some connoisseur, I have the feeling that when you acquire the new Pierre-Jé Paulus '79, you also own all the stories that goes with it. You know, all the stories of the '70s, yes? Well, I won't talk about Andy Warhol for a second. So Andy Warhol was an avid collector of curiosities throughout his life. He was also a passionate watch collector who owned hundreds of time pieces. Not many people knew how many watches he had in his secret collection that was stashed away in his dresser draw until over 300 of them were sold by Sotheby's during this auction of the Warhol Estate in 1988. Warhol was a big fan of Pierre-Jé watches. He was known for sporting the cushioned shape Pierre-Jé dress watch known as the Black Tie. And for the 150th anniversary last year, you released the Andy Warhol Clude Perille watch the first of the Maisons offerings to launch under the Andy Warhol name. Could you talk about Pierre-Jé's association with Andy Warhol and the Clude Perille watch? Yes, we're pleasure. So we know that Andy Warhol was seduced by the creativity and distinction promoted by Pierre-Jé in the US. And as you mentioned, what we know today that he really owned at least seven pieces, seven watches from Pierre-Jé, and pretty H.E. models such as Ingo Secret Watch or a Curth Watch. Because we know that he was a Pierre-Jé client before he met Monsieur Yves Pierre-Jé in New York. So that's why we can say that he was interested and probably he found Pierre-Jé peering at that time. And to come back to the model we are considering, well, he bought this watch in 1973. And that watch, as I said before, had no name. It was just a number. It was a 15102. And it was a very limited quantity, it's because we only made 26 quantity during from 1972 to 1977. So I even said that it's lucky that Andy Warhol found one. So, and then the model after 1977 disappeared. And it has been relaunched for the 140th anniversary of Pierre-Jé and animated regularly. And what happened is that this watch has a strong attractivity. And it was gring by word of mouth and becoming highly sought after by collectors. And the collectors and even some time press. And even within the meson sometimes, we used to call it the Andy Warhol, but it was not allowed. So under the impetus of Benjamin Comar, we have contacted the Andy Warhol Foundation and negotiated the right to use the trademark Andy Warhol for this model. And it's true that we have had a very nice, I would say meetings and cultures and collaboration with all the people working for the Andy Warhol Foundation and the visual arts. And on one side, and we will come back maybe later, but we have been using the Andy Warhol image to celebrate our story. And we have also been using Andy Warhol for this specific model. So we have had a comprehensive collaboration with the Foundation. And Pierre-Jé also wanted not just maybe to do another animation for the 150 years, but to celebrate the collaboration with something strong. And so they have had, they imagined this Andy Warhol Clude Paris, which I can tell you is a really emerging creativity, but also technical mastery because to do Clude Paris, which are like small pyramid, but not on the square watch, but a watch which has a cussion shape and which has different steps. It was also a challenge in the gold crafting approach. And you were talking about customization. It's true that Pierre-Jé already launched in 1963 what they named a style collector, where you could, well, customize your watch. And for the new Andy Warhol, clients are offered again a personalization possibilities. And we have a configurator on the website, so you can also do it on a digital way. Or, of course, in our boutique, playing with different dialed materials to less strap colors and to be able finally to have-- or I would say serial personalization, choosing a manga choice or having a total personalization, but then it's a bit longer to do it. But it's true that you can own your own Andy Warhol watch if you feel for. And Andy Warhol was also a key member of the Pierre-Jé society, which was this inner circle made up of clients, artists, and celebrities who often attended exclusive events and parties hosted by Eiffel-Jé in big cities around the world. These legendary signature events became the place to be in the '60s and '70s, guests ranging from Warhol to Elizabeth Taylor, Ursula Andrews, Brook Shields, Salvador Dali, brand influencers of the time. But without social media, of course, what was Eiffel-Jé hoping these experiences would do for the brand? Well, yeah, we may wonder why Pierre-Jé was so influential at that time. And I think the answer is really thanks to the personality of Monsieur Eiffel-Jé. And if I may, I think in the US, you have a quote that says that when you go-- when you know where you come from, you know where you want to go. And it's also true with the Pierre-Jé family, as we went from Laco to Fitt, Laco, to Desire, it's a French Riviera to become who you are. And I think that Monsieur Pierre-Jé wanted to go a step further, because the plane possibilities have developed, so it was traveling a lot in the world. And I think he really wanted to-- at the fourth generation to also impact the brand and he wanted to increase the desirability and the awareness of the meso. So he put in place a kind of results strategy, which was not named that way, but we can call it a results strategy with events of relaxed elegance and festive spirit. He definitely choose result places where his clientele loved to go such as Monaco, Chate, Almaficost, Palm Beach, Palm Spring, Aspen, offering to the clientele a social calendar that would otherwise be inaccessible to them even if they were pretty wealthy, because he was inviting artists, music stars, as you said, famous sportsmen. And he was mixing celebrities and clients with amazing performance, of course, always showcasing judgements. And it becomes what we name the Piaje Society. So places where you want it to be, because you may, of course, be with the meso, but also have great encounters. And to go on to what you said, I think that in one way, if Piaje was social before the social media in that way, as well as Wahol also, if I may, because Wahol had his factory, you know, this cultural hotspot, attracting artists, photographs, maybe more from the counter culture, but the Piaje Society was also a kind of a society attracting singers, movie stars. And I think they had really the same interest in entertainment and their visibility and how they could impact on one side their artistry and on the other side, the disability of the brand. And for this 150th anniversary, it was also very important for us to reconnect to where we come from, to our roots. Then the communication department had this great idea to create a magazine, gathering, history, stories, talent from yesterday and today, but also some major moments of the year of celebration, 2024, and offered to the client and friend of the brand, this magazine, to, well, as a gift to thank them for their loyalty to the Maison over the year. And now we know that this, I would say, exceptional edition as a strong success. So the Maison was even decided that it will become a yearly edition, finally. Piaje has such a diverse archive of extraordinary watches. Which Piaje collection do you personally feel is the purest expression of the Maison's identity? So for me, I think the purest expression of our Maison or the identity are jury watches, because they really emerge gold crafting, vibrant colors, play of shape, and of course, there is the entracing movement. But it's really with Paulo Gala, Di Plano, we really have all the mastery that is really igniting artistry in one way and serve a unique style. And I think the true watches are really the link between watch, the real watch activity and the real reactivity. I think it's the heart of it. - As the head of Patrimony, you are the gatekeeper to Piaget's archive of hundreds and hundreds of watches and jewelry pieces. Piaget has been creating jewelry since 1959, and you're one of the few brands that are strong in both jewelry and watches. But the jewelry business seems to fly under the radar. It's almost like it's for insiders, for connoisseurs, a fine jewelry. How does Piaget's jewelry business differentiate itself? - It's probably a perception, Scott, because today, jewelry represents an import part of the brand business. And we equally valorize our watch and jewelry category inside for example, the possession collection is over 30 years old and is today one of the most iconic jewels on the market with some other jewelry maize also. I think as we have said, there is a jewelry saw in Piaget and the jewelry expresses also the extra legans aside of the maize one mixing gold, color, gem setting and taking the inspiration also during the '60s and '70s, the Rhea, as well as the company's own emblems, such as the Piaget Rose, which is a true flower. And also the sun, it's another emblem of the mesom, which is linked to Piaget radiance. Without talking about all the creativity and the exclusivity of your jewelry high jewelry collection. So I think it's maybe a perception, but from our identity, and from the way we express, it could be an additional advertising website, content creation. Really the jewelry is equally presented at the watches. Piaget CEO Benjamin Kumar joined the Maison in 2021 and has been tasked with preserving and promoting the brand's long history and aligning on a clear message moving forward. Around that time you became Piaget's head of patrimony. How are you both working together to meet those ambitions? - Well, probably you know that Benjamin Kumar has a broad culture of luxury and he has a strong knowledge of codes and drivers in that business. So he really appreciated Piaget's heritage and as soon as he joined the Maison, he asked me if we could increase the village visibility of our heritage by promoting much more our private collection. First in our network of boutiques to highlight our history, the link also to this icon. Because it felt that there were a kind of lack of narrative around these objects and also to engage the conversation with the client or the guest of the Maison. For instance, similarly, it really wanted to highlight Piaget heritage throughout the 150th anniversary as I said before. And both in physical events, but we have also been working on video sagas about Piaget history, it was a way and it was really supportive because when I was talking before about when you use image with celebrities, where you have of course intellectual property and you have to pay for the rights. So you need a huge budget and it was very supportive, helping us to make it. And of course, it loves and is always regularly informed of vintage pieces that we wish to acquire to and which our private collection. So for aim heritage is, I would say the key leverage to build the brand equity of Piaget and to increase the value. - I'm sure Piaget has an extensive archive of documents that stretches back to its very first watches. So you know more or less everything there is to know about Piaget's history. How does this connection between the past and the present make it a source of inspiration for future styles? - Well, I will be humbled because it's going to be very difficult to know all about the Piaget history. As it's 150 years, you need a lot of time to capture everything. But indeed, well, I think that the link between past and present was that they're heard of our 150th anniversary celebration and is very valuable because he was able to show the great continuity we have in house. Piaget was not a brand that did something 50 years ago and is totally doing something else. Today there is a great continuity. And if I may, I think it's also due to the stability of our creative team. I don't know if you know, but we have had somebody named Jean Claude Gett who has been responsible during 40 years of the creation at Piaget. And today we have Stephanie Sivrier for also the last 20 years. So you know, among Jean Claude and Stephanie, they encapsulate 60 years of creation. So it's very key also to have, I would say, an inspiration that is true and that you can reconnect. And I will tell you also this other anecdote because I think it was very innovative for Swiss watchmaker that Vanont-Tam Piaget in the 60s sent its designer to Paris Couture shows, to George, to Cardin, to Courage, where the designer was immersed in the world of fashion and when they returned to Switzerland, much more inspired, they were translating this inspiration into their designs, sketching time pieces, jury, and they were doing that directly onto models portrayed in the magazine they were purchasing. And while they were doing that, it's because they really wanted to be sure that their creations were in tune with their time and if possible, avant-garde. And today, this is still an incredible source of inspiration for the creative team because they are never thinking about copying the past. They are more trying to understand oh, when they think about that pendant or that ring or that curve for that sutua, what were the idea behind, what did they want to express, what were the influence because Piaget has been influenced by pop art but also minimalism but also pop art. And so they are always trying to capture finally the inspiration and the intuition and then to master it to be able to deliver something new. But understanding the energy of that time. So in your experience, how has the brand perhaps evolved since your journey started there 25 years ago? It's a good question. Well, at Piaget, we know a thing or two about oscillation. You know, and evolution in the lecture we were is also made about oscillation, you know, like within a watch according to the economy, the trends, the price of gold and the market, everything. So honestly, I have the chance to know four CEOs who have succeeded each other since Piaget became part of the group. They have had different growth strategies but they have always kept the same quest for distinction as a priority for the meswizing the distinction, the elegance, this extravagance is really remained the key live driver of all of them. So it's my feeling of course. And maybe what has changed the most in the last decade is more the importance given to heritage. Not only at Piaget, but I feel it also in the luxury world generally. Except maybe to some meswans with very, I would say iconic designers such as maybe Coco Chanel or Iffsano Reumbatter. At first, sometimes for watching tree heritage was more seen as a museum, certainly respected. But probably far behind the conquest of desirability driven by a strong creativity, you know, the creativity was renewing fast during between the year 2000 to the first crisis with the subprime, then with the crisis with the Chinese in 2015. So I think at that time creativity was probably the key driver. And maybe due to some crisis, the lack of differentiation sometimes because maybe sometimes we could also be in the risk of copying the others. Just because of the influence not with a true intention to do it, but just because we were thanks to the rise of internet, everybody could feel the same inspiration, the rise of social networks also, then suddenly heritage has become a credible source of differentiation and legitimacy. And for instance, I was talking about those videos saga with-- have made with our archives, you know, around the script with music, great voice. And we have noticed that we have captivated the new agents. And we have created a new appeal on our meso. So, I would say that today, heritage, depending on how we put it on stage or we bring it to life, it's really a lever for positive perception of the brand. And if we are next, especially today, we can see that meso is stronger, it's like a race or a car or a steel overperforming the market. Well, Jean-Brenard, my final question is the luxury item question, which I ask all my guests. So, if you were stranded on a deserted island and you could only have one single luxury item with you, what would that luxury item be? It can't be any form of air or water transportation to get you off that island or anything that requires mobile service so you can call somebody to come pick you up off that island. What would that one single luxury item you would like to have with you? Well, it's a tricky question, but probably I'm thinking about the catalogues. Not such a long time ago where Piaget was doing an unexpected item, you know. And Piaget used to do Swiss knives in gold. I don't know if you know what it is, Swiss knives. Of course. Okay, so great. So, well, I think I could shoot that because on one side it's luxurious, as you said, and at the same time, it could be precious also on both meaning on a desert island. You know, we have an amazing object that Piaget, we have a calculator in gold, we have a lighter, we have our glasses, we have sent glasses, we have many things we have built, but I've never had one in my hand, but I know that it exists because I can't, I've seen them in the catalog. So, well, I was thinking if I alone on a desert island, maybe I could use a knife, but Piaget Swiss knife full gold. I love that answer. Jean Bernard Farot, head of Patrimony at Piaget. Thank you so much for joining me on the luxury item. Thank you, Scott. It was a pleasure. That's it for this episode of the luxury item podcast. Thank you so much for listening. If you found this useful and entertaining, I would be really grateful if you can share it with a friend or colleague. I would love it if you subscribe so you never miss an episode. And while you're there, be sure to rate and review us on Apple podcasts. It really helps other listeners find us. The luxury item podcast is a production of Silver Tone Consulting. I'm your host, Scott Kerr. Until next time.