Reasonably new to the role, WATCHPRO has caught up with Arif Mughal, Luxe Watches’ Retail Manager.
He explains more on how he’s settled in, his previous experience and delves a little deeper into the pre-owned market:
How are you settling into your new role?
The team at Luxe Watches have made me feel very welcome, it’s a truly dynamic and organised workplace which has enabled me to settle in with relative ease. I hope to make a positive change to an already motivated team who all love what they do.
What was it that attracted you to the job in the first place?
When I learned of the opportunity at Luxe Watches, I was excited to bring along all my years of expertise in the Luxury Jewellery world, an amalgamation of passion for watches and Luxury Retail insights. I’ve always been interested in watches as it goes hand in hand with jewellery, so the decision to make the leap was easy.
What is your previous experience in the watch industry?
Being privy to high net worth individuals from my years in the most affluent store in Knightsbridge Harrods, I had built up a rapport with my clients. We would often speak about watches and what was next on their collection list. I understood early on that Jewellery was for ‘her’ and his jewellery was that next “big watch”. These interactions garnered further interest in luxury timepieces that I found myself brokering deals.
What is it about the job that challenges you the most?
We have a very comprehensive CRM system that we have invested in which is highly adaptable and provides us with data that enables us to work more efficiently with an omni channel natured business setup. Learning this system was challenging at first, however I have been coming to grips with it has really shown its strengths as a business moving forward.
How have sales been in the last few months?
The past few months have been steady and constant in trade, this has given us a chance to reflect on the market, adapt and change to the current climate, unlike the beginning of the year where we were incredibly busy. We are hopeful that we can achieve growth in these uncertain times.
Have you noticed the cooling off in the pre-owned market that others have mentioned?
The booming secondary market in watches is often seen as the Wild West, where speculators push prices through the roof in search of big profits. I started when the market had already cooled, however I have noticed a steady flow of client interests. It comes in swathes, there would be a week of good trade then another week it would be quiet, indeed difficult to gauge where the market will be next week or even next month.
How do you and the team attract people to Luxe Watches and avoid losing customers to online platforms?
Above all, we pride ourselves on being a leader in customer service and client retention. We are growing our online presence through our social media channels as well as making the barrier to entry easier by offering 0% finance options via our website. We have a dedicated team that can assist with Sales, purchasing and online valuations. Our Sales team have an unparalleled knowledge base of most of the Luxury watch brands and are able to offer you insights to help you make that perfect choice. Luxe Watches remains a fledgling player in a competitive market dominated by the Richemont-owned Watchfinder, WatchBox of the US, and Chrono24.
What’s your favourite personal watch?
Currently a Cartier Tank Must De Cartier, this watch holds a special significance for me as it was gifted to me by my wife when we got married. A classic and timeless design which I’m sure will outlive me.
