Favre Leuba Returns with Patrik Hoffmann at the Helm

Patrik Hoffmann has been at the forefront of the watch industry for years, notably as CEO of Ulysse Nardin and Executive Vice President of Watchbox. Now, this industry veteran is leading the revival of one of the oldest Swiss watch brands with ambitious plans. Established in 1737, Favre Leuba boasts a rich heritage, particularly from the 1960s, when it created the FL 251 twin barrel movement and iconic tool watches such as the Bivouac with its aneroid altimeter and dive watches like the Deep Blue or the Bathy with its depth gauge. In 1985, following the quartz crisis, the family, which had run the brand for eight generations, had to sell it. Since then, Favre-Leuba has changed hands several times, with various attempts to revive its illustrious name. The brand now embarks on a new chapter, unveiling four new collections and 22 watches during Geneva Watch Days. Just before the event, we had the opportunity to sit down with Patrik Hoffmann in Grenchen, where the brand is headquartered, to discuss his plans for the future.

Xavier Markl, MONOCHROME – Patrik, thanks for having us. You are relaunching this illustrious brand. Can you tell us about this renaissance and how you got involved?

Patrik Hoffmann, CEO of Favre-Leuba – The group of investors interested in acquiring the brand approached me because of my experience selling Ulysse Nardin and acquiring De Bethune. Initially, I did not know as much about the brand as I do now, but upon studying it, I realized that the legend and charisma behind the brand were exceptional. I immediately saw the potential.

One thing I had to tell the investors was that, despite this potential, there have been several attempts to relaunch the brand. This needed to be taken into consideration. I was approached to become the Chairman, but now, I am much more involved in the operations than I anticipated, taking on the role of CEO.

What is the strategy for brand positioning, product and pricing?

We have to stay true to Favre Leuba’s historical roots. There will be no realignment in terms of positioning. At the end of the day, the product is key. What will make the difference is our value proposition, which is packed with quality and great attention to detail. We will offer this not through a direct approach but by working traditionally with retailers and distributors.

In terms of design, we did not want to focus solely on vintage re-editions, even if there is potential for this today. I think that would have been too easy. You need a signature. We are in a different era, and while we take inspiration from the past and will release some revival pieces, it is important to me to create watches that are extremely wearable. We have moved away from making just instruments and want to ensure our watches are wearable.

Can you tell us more about what you will be presenting?

At Geneva Watch Days, we will present 22 references across three collections with three movements. This year’s movements are made with La Joux-Perret. Next year, we will introduce a Tourbillon in one of the lines. The three collections are the Deep Blue, the Sea Sky, and the Chief.

Our approach has been both revival and renaissance. Even if we do not use those words, they fit. Revival means that products are about 80% in line with original models in terms of design or size. Renaissance means about 40% of the original design has been preserved.

The names of the collections suggest that they were inspired by the brand’s heyday in the 1960s and 1970s.

Indeed. The Deep Blue is from 1964, and we are celebrating its 60th anniversary. For the Chief, we drew inspiration from a cushion-shaped chronograph from the 1970s. We could not find the original name, so we used the Chief name. We have not used anything created over the last 40 years. We really went back to what I call the pre-quartz crisis period, continuing the history from when the quartz crisis hit.

What about reviving the Bivouac? (Editor’s Note: The Bivouac was the first wristwatch fitted with an aneroid barometer and altimeter.)

The Bivouac is part of our heritage, and we will produce a new Bivouac in the next 12 to 18 months. We are in the course of developing a new movement. It will be a wearable piece with moderate dimensions and all the functionalities the Bivouac is known for.

What are the brand’s ambitions?

We have a long-term plan to develop a global brand that we do not envision as a niche or boutique brand. Our goal is to produce 80,000 to 100,000 pieces yearly in about 10 to 12 years. This means we need to establish a network of distributors and retailers, and within the next two to three years, you will see our first boutique open.

What will the priorities of your marketing strategy be?

The brand’s tagline has been “Conquering Frontiers”, and we will keep it. Historically, we have had ambassadors like climbers, divers, and adventurers. Our approach will focus on the product as the hero. This tagline, “Conquering Frontiers”, reflects our ability to create something outstanding with great value. We may use ambassadors later, but for now, the product is the hero.

We are at your headquarters in Grenchen today. How will you organize production and operations?

As mentioned, the first movements are made with La Joux-Perret. The Tourbillon we will launch in 2025 will be made with Chronode. Currently, assembly is outsourced to Tavannes and Ticino, but we will progressively internalize part of it. We are now working on building the team, including hiring an internal designer. The initial designs were prepared with Antoine Tschumi and Laurent Auberson, and we will continue to work with outside designers, but we have also hired an internal designer.

The facility we are in is a historic building from Estima, a hand manufacturer, which we are renting. We plan to build a museum, a hospitality space, and, of course, production facilities.

For more information, please visit FavreLeuba.com and stay tuned for Geneva Watch Days on August 29th, as we will update you on the watches presented by Favre Leuba.