Brian Duffy was appointed as CEO of Watches of Swizerland in 2014. Prior to this Brian had served on several boards across the fashion, retail and sports sectors including several subsidiaries of Ralph Lauren, as well as the boards of Celtic PLC and Sara Lee Corporation. Brian is an ICAS Chartered Accountant and holds an Honorary Doctorate from Glasgow Caledonian University. Below, we speak to him about the challenges the luxury industry faces, why sector events are important and the insights he'll be sharing at the Walpole British Luxury Summit 2022.
Walpole: Can you share a couple of the key insights that you would like to share at the event?
Brian Duffy: Our success at Watches of Switzerland is that we understand that the appeal of the product that we sell is to a broad demographic of the population. Our approach is to join the client journey of celebration in buying a luxury watch or item of jewellery. We are non-elitist and non-judgemental.
What do you see as some of the most important opportunities for the luxury sector or your brand?
The pandemic has shown that there is huge demand for luxury products from UK consumers. The domestic UK market should be the priority.
What are some of the greatest challenges for the luxury sector or your brand?
Our biggest challenge is undoubtedly supply of product which today falls way short of increasing demand. More broadly for the sector the challenge and/or opportunity is authenticity.
Why are these events so important to you, your business and industry as a whole?
I personally find these events very stimulating and helpful. Hearing from other businesses on market trends and initiatives always leads to new thoughts on problem solving or opportunities.
