Paolo Marai is approaching his 20th year at Timex Group, most of that time as president and CEO of Timex Group Luxury Division, which is home to watches designed and manufactured under license from Versace, Ferragamo, Philipp Plein and Missoni.
WatchPro: Watches are a passion you’ve inherited from your father and grandfather. Would you tell us how did it all start?
Paolo Marai: I always noticed watches and always wanted one of my own. At 12 years I got my first watch, it was a Timex — can you imagine what a coincidence?
It’s really amazing when a passion becomes your career. I was fortunate enough to start my career in the industry, starting at Swatch Group before moving to Timex Group in 2005.
WatchPro: How would you describe your time at Timex Group and your role and priorities today?
Paolo Marai: First of all, I would like to clarify the difference between Timex Group, our parent company, and Timex Group Luxury Division. As suggested by the name itself TGLD is the entity entitled within Timex Group to develop the Luxury Business primarily developing high end watches that are rigorously Swiss Made
WatchPro: You were appointed president and CEO of Timex Group Luxury Division in April 2005. How would you describe the evolution of the group in the watch industry since then?
Paolo Marai: I have been at Timex Group and fortunate to run both the Timex brand as CEO for a couple of years and the Luxury Division for all the period.
In the Luxury Division we focused on Versace and have been fortunate to be with the brand a long time and have seen the growth with new generation’s desire for Versace timepieces.
As the industry has evolved and other brands have seen the success, we have been approached by other incredible brands, adding brands such as Ferragamo, Missoni and Philipp Plein.
Our focus on designs out of our Timex Group design lab in Milan and our Atelier in Switzerland has secured a leadership position in Luxury watchmaking
WatchPro: You’ve mentioned that luxury and creativity flows across each product category of Timex Group. How have you embraced innovation and technology in the manufacturing process of your products?
Paulo Marai: We are true watch makers with proprietary capabilities to create and assemble every component of a watch; our Group atelier in Lugano is a centre of Swiss Made production excellence, assembling both movements and final watches
More, we have lean “inventory pull system” that ensures on time replenishment of top styles and quick answers to emerging new consumer’s demands.
WatchPro: Timex Group Luxury Division has a strong portfolio of watch brands such as Versace, Ferragamo, Philipp Plein and Missoni among many others. How would you ensure each one of them maintains its unique identity?
Paolo Marai: Timex Group track record and horology and jewelry focus differentiate us from our competitors. We do have a selective brand portfolio across the group and the luxury division is no different.
We have a dedicated product and marketing team for each brand and are connected closely with their Maison. Our design lab in Milan led by Giorgio Galli, whose name is synonymous with innovation, is one of the most admired in our industry for originality and imagination.
From trend research to design the team keeps each brands DNA closely tied in each timepiece created.
WatchPro: We live in a world where fashion trends keep on changing. How are you adapting to change your consumers’ preferences while maintaining the brand’s core values?
Paolo Marai: We look at this across many different levels working with the brands and listening to consumers.
That said, we start always working with the luxury brands on their positioning and consumer research, in addition each brand team is researching market and consumer trends for the specific watch category with a global approach.
While we create a global approach to product and marketing keeping the brand DNA consistent, we adapt and act locally respecting the consumer and listening to their needs locally.
WatchPro: As an expert, do you think that the young generation of watch consumers play a role in the industry, and how?
Paolo Marai: It’s been interesting to see how the watch industry has evolved over the years. What was purchased in the past as function to keep time, it’s now exciting to see it is adopted as an accessory that has a more emotional connection than ever before.
Also younger consumers have now considered a watch as an important accessory to complete their look. Just as their favorite shoes, jeans, sunglasses, this has now become a part of their wardrobe.
The luxury brands especially have brought in younger consumers into their lifestyle. It’s not about the product, but what the brand respresents to new generations as well.
Latest Timex Group Luxury Division releases
WatchPro: What can we expect to see from Versace, Ferragamo, Philipp Plein and Missoni this season?
Paolo Marai: Versace timepieces reflect the boldness and loudness of the brand in collections like Greca Flourish and Greca Time GMT.
Ferragamo timepieces are as contemporary and sophisticated as the fashion house and you will see this in Gancini and Supreme Chrono watches.
Missoni watches like the Milano and Classic Gent are playful and feature iconic details of the brand in their design.
Phillip Plein is about the glamour and disruptive rock spirit of the brand and you will see in the Date Superlative and GMT I-Challenger.
Every brand we work with is distinctive and different from one another.
WatchPro: What do you see as the hot watch trends of today?
Paulo Marai: Small jewel cases for ladies, tonneau cases for man, and above all sustainable materials.
The watch industry has been taking steps to be more sustainable and using materials and movements that are more environmentally friedly.
Specifically, Timex Group has been actively working towards a more sustainable future with appropriate governance already in place and a three-year roadmap designed to continue our sustainable efforts.
Timex’s long-term goals are strictly linked to Timex Group’s ESG strategy. Surely one of the most important long-term goals related to environment is to achieve a 50% reduction of our GHG (Green House Gas) emissions (direct and indirect) by 2030, but also to take the decarbonization actions to be net zero by 2050.
