Full Transcript for The Client Experience Secret Behind One of Rolex’s Most Admired Boutiques

00:02:13.430 completely in English. So um you will 00:02:13.440 --> 00:02:15.350 hear a lot of Italian in the beginning 00:02:15.360 --> 00:02:17.350 um but we will always translate um for 00:02:17.360 --> 00:02:18.949 you and I promise you this is going to 00:02:18.959 --> 00:02:21.910 be a fascinating discussion. So let's 00:02:21.920 --> 00:02:26.869 get started. Um Maria Gracia um how tell 00:02:26.879 --> 00:02:29.750 us a little bit about you your family 00:02:29.760 --> 00:02:44.869 and about the history of this place. 00:02:44.879 --> 00:02:49.670 My name is Cityi. I started in my 00:02:49.680 --> 00:02:53.270 company in this company when I was 17. I 00:02:53.280 --> 00:02:56.070 enjoyed the company when the company was 00:02:56.080 --> 00:02:59.350 just a little workshop because my father 00:02:59.360 --> 00:03:04.229 started in 1926 almost 100 years ago 00:03:04.239 --> 00:03:07.910 uh with this little workshop in just in 00:03:07.920 --> 00:03:11.830 silver in silver plates 00:03:11.840 --> 00:03:15.110 >> in silver and uh because before the 00:03:15.120 --> 00:03:18.309 market was very big now unfortunately is 00:03:18.319 --> 00:03:21.190 uh is not anymore because you know after 00:03:21.200 --> 00:03:25.270 almost 100 Uh yeah, silver is almost uh 00:03:25.280 --> 00:03:27.830 pasted talking about you know the the 00:03:27.840 --> 00:03:30.789 the request and this kind of thing but 00:03:30.799 --> 00:03:33.190 so before it was very strong there was a 00:03:33.200 --> 00:03:37.270 an I do demand on on silver. So our uh 00:03:37.280 --> 00:03:41.350 our main business was silver and I I 00:03:41.360 --> 00:03:44.630 enjoyed um the company when I was 17 00:03:44.640 --> 00:04:00.550 >> in in this business. 00:04:00.560 --> 00:04:04.550 I am the owner with my father. We own 00:04:04.560 --> 00:04:09.589 four shops in Ponteo, one in Flores in 00:04:09.599 --> 00:04:11.110 Virosi, 00:04:11.120 --> 00:04:15.429 very close to Hermes store just opening 00:04:15.439 --> 00:04:19.590 last last year. Then we have one in uh 00:04:19.600 --> 00:04:22.469 in Praau, very big city, very important 00:04:22.479 --> 00:04:25.830 city, very close from to Florence. And 00:04:25.840 --> 00:04:29.110 we have Rolex as well. And then we have 00:04:29.120 --> 00:04:31.830 one the most beautiful shop in Fort 00:04:31.840 --> 00:04:35.830 Marmy, very important with eye jewelry 00:04:35.840 --> 00:04:39.510 and Tudor and Vashelon and other brands. 00:04:39.520 --> 00:04:44.469 >> Mhm. And uh in from when I was 17, 00:04:44.479 --> 00:04:47.830 I just uh work every day without 00:04:47.840 --> 00:04:51.350 stopping having vacation because for me 00:04:51.360 --> 00:04:53.990 working is my life to stay with my 00:04:54.000 --> 00:04:56.150 customers especially with jewelries in 00:04:56.160 --> 00:04:59.670 for Mar in summer in Florence the rest 00:04:59.680 --> 00:05:03.430 of the year because what is my is my 00:05:03.440 --> 00:05:07.110 passion and uh I don't need any rest for 00:05:07.120 --> 00:05:09.909 me the most important thing is to 00:05:09.919 --> 00:05:12.310 in the shop with my customers with 00:05:12.320 --> 00:05:37.990 jewelries and uh 00:05:38.000 --> 00:05:40.870 as I told you. Next year we we are going 00:05:40.880 --> 00:05:43.430 to celebrate 100 years. So we are 00:05:43.440 --> 00:05:45.189 planning 00:05:45.199 --> 00:05:48.070 a big party in a very important place 00:05:48.080 --> 00:05:50.710 but now it's too early to say because we 00:05:50.720 --> 00:05:53.110 are just closing the deal but we are 00:05:53.120 --> 00:05:55.350 going to make a very important party 00:05:55.360 --> 00:05:57.189 because for us is the most important 00:05:57.199 --> 00:06:00.870 step 100 years to celebrate with all our 00:06:00.880 --> 00:06:04.150 family and all all our important 00:06:04.160 --> 00:06:04.790 customers. 00:06:04.800 --> 00:06:07.510 >> Yeah. Wonderful. And one maybe Maria one 00:06:07.520 --> 00:06:10.950 question um because you said that you 00:06:10.960 --> 00:06:13.510 since I think the age of 17 basically 00:06:13.520 --> 00:06:15.749 have been working every day and for you 00:06:15.759 --> 00:06:18.150 work is also being very close to the 00:06:18.160 --> 00:06:20.710 customers and this is a topic that I've 00:06:20.720 --> 00:06:23.110 been researching a lot about and also 00:06:23.120 --> 00:06:24.950 publishing a lot about and also in my 00:06:24.960 --> 00:06:27.270 consulting work always focus how 00:06:27.280 --> 00:06:29.430 important customer centricity is and how 00:06:29.440 --> 00:06:32.150 important the customer is. So I would be 00:06:32.160 --> 00:06:34.550 very curious maybe to as long as we have 00:06:34.560 --> 00:06:39.029 you here to um learn from you how maybe 00:06:39.039 --> 00:06:41.270 over the last years and maybe even 00:06:41.280 --> 00:06:44.309 decades the expectations of customers 00:06:44.319 --> 00:06:45.990 have changed because you have different 00:06:46.000 --> 00:06:48.150 customer types probably today than 5 00:06:48.160 --> 00:06:50.550 years ago or 10 years ago. What are you 00:06:50.560 --> 00:06:53.270 observing? What are people expecting 00:06:53.280 --> 00:06:55.909 today that maybe they were not expecting 00:06:55.919 --> 00:07:06.070 five or 10 years ago? 00:07:06.080 --> 00:07:07.990 She said 00:07:08.000 --> 00:07:11.350 when she was a child, little child, her 00:07:11.360 --> 00:07:14.790 passion was uh stones like you know um 00:07:14.800 --> 00:07:18.710 stones and uh she she learned when she 00:07:18.720 --> 00:07:23.909 was very young how to to design and and 00:07:23.919 --> 00:07:27.029 little by little also she found very 00:07:27.039 --> 00:07:32.309 good uh artist and um let's say artisan 00:07:32.319 --> 00:07:35.350 they help us to you know to make very 00:07:35.360 --> 00:07:38.150 important jewelries. 00:07:38.160 --> 00:07:40.870 The her favorite was like like like 00:07:40.880 --> 00:07:44.390 vintage vintage

design you know before 00:07:44.400 --> 00:07:47.830 was uh easy to make because was full of 00:07:47.840 --> 00:07:50.629 artisals very good from Florence. So 00:07:50.639 --> 00:07:53.430 everything was was handmade with the 00:07:53.440 --> 00:07:57.270 high eye high quality. So especially in 00:07:57.280 --> 00:08:00.230 1970s it was full of Americans they like 00:08:00.240 --> 00:08:02.629 this kind of objects 00:08:02.639 --> 00:08:06.230 but the problem is that little by little 00:08:06.240 --> 00:08:09.670 uh the artisan disappeared and now it's 00:08:09.680 --> 00:08:11.990 finished almost so it's very hard now to 00:08:12.000 --> 00:08:15.110 make piece like this because to make a 00:08:15.120 --> 00:08:19.110 very important jeweleries you need good 00:08:19.120 --> 00:08:21.589 people to you know to make 00:08:21.599 --> 00:08:24.390 >> but uh she designed a lot during this 00:08:24.400 --> 00:08:27.909 here especially vintage uh vintage and 00:08:27.919 --> 00:08:31.270 very important necklace earrings. 00:08:31.280 --> 00:08:32.230 >> Mhm. 00:08:32.240 --> 00:08:33.110 >> Like this. 00:08:33.120 --> 00:08:36.709 >> Yeah. And is this also the base for your 00:08:36.719 --> 00:08:39.110 jewelry collection that you have today 00:08:39.120 --> 00:08:46.710 in the family? 00:08:46.720 --> 00:08:49.110 >> Now we have now we have to face with the 00:08:49.120 --> 00:08:51.269 several problems. First problem is the 00:08:51.279 --> 00:08:52.550 price of the gold. M 00:08:52.560 --> 00:08:55.030 >> price of the gold is out of control is 00:08:55.040 --> 00:08:58.470 it raised almost three times during 00:08:58.480 --> 00:09:01.350 these years. Second problem is now the 00:09:01.360 --> 00:09:03.829 market is huge with the internet. There 00:09:03.839 --> 00:09:06.710 are many many many offers you know so 00:09:06.720 --> 00:09:08.949 people now they are more care careful 00:09:08.959 --> 00:09:11.509 when they choose the piece before they 00:09:11.519 --> 00:09:15.190 they just trust more you know as now 00:09:15.200 --> 00:09:17.670 they control they are very careful 00:09:17.680 --> 00:09:20.630 because the price is very high. So now 00:09:20.640 --> 00:09:24.150 it's more difficult to to uh you know to 00:09:24.160 --> 00:09:26.150 sell this kind of piece is very 00:09:26.160 --> 00:09:28.070 important. So of course the level of the 00:09:28.080 --> 00:09:30.550 objects and the request and the daily 00:09:30.560 --> 00:09:35.269 daily sales are you know lower level of 00:09:35.279 --> 00:09:38.550 course cheaper and of course and uh also 00:09:38.560 --> 00:09:41.990 because now uh the moment especially in 00:09:42.000 --> 00:09:44.949 Italy is not easy you know so people in 00:09:44.959 --> 00:09:47.269 in jewelry they they spend less than 00:09:47.279 --> 00:09:51.670 before but we have a an an a nice uh we 00:09:51.680 --> 00:09:53.590 have a big range of customers they 00:09:53.600 --> 00:09:55.190 invest 00:09:55.200 --> 00:09:58.070

uh they still invest ing in jewelries is 00:09:58.080 --> 00:10:01.350 is is also a is still a good investment. 00:10:01.360 --> 00:10:03.990 So we have a lot of customers especially 00:10:04.000 --> 00:10:05.190 in form army. 00:10:05.200 --> 00:10:07.590 >> Mhm. you know because for army we still 00:10:07.600 --> 00:10:10.550 have the the most important pieces of 00:10:10.560 --> 00:10:13.030 our collection there because for army is 00:10:13.040 --> 00:10:16.069 the place you know very important for 00:10:16.079 --> 00:10:18.230 luxury brands 00:10:18.240 --> 00:10:20.870 >> you know probably more than I don't want 00:10:20.880 --> 00:10:22.630 to say more than Florence but you know 00:10:22.640 --> 00:10:25.350 is a strategic place where all brands 00:10:25.360 --> 00:10:27.750 are there you know so 00:10:27.760 --> 00:10:31.430 >> we for for our target uh we moved a 00:10:31.440 --> 00:10:34.150 little bit more that kind of object 00:10:34.160 --> 00:10:36.870 there than in Florence is 00:10:36.880 --> 00:10:37.910 >> for this reason. 00:10:37.920 --> 00:10:40.470 >> Wonderful. So then Maria, thank you so 00:10:40.480 --> 00:10:42.949 much. I know that you wanted to to be 00:10:42.959 --> 00:10:45.509 with us in the beginning of the um of 00:10:45.519 --> 00:10:49.269 the discussion and um then um it was was 00:10:49.279 --> 00:10:51.910 so so nice to have you here and then 00:10:51.920 --> 00:11:13.190 Lorenzo, we are going to to continue. 00:11:13.200 --> 00:11:15.030 We we thank you very much to be here 00:11:15.040 --> 00:11:17.430 because uh you are very busy, very 00:11:17.440 --> 00:11:20.790 important guy and just to to dedicate 00:11:20.800 --> 00:11:24.389 your time here for us is a big honor and 00:11:24.399 --> 00:11:26.710 thank you very much and we hope and and 00:11:26.720 --> 00:11:29.430 we hope to see you here. 00:11:29.440 --> 00:11:32.389 >> Wonderful. Thank you so much. Gracias. 00:11:32.399 --> 00:11:34.710 >> I'm Dr. Daniel Langanger and after 00:11:34.720 --> 00:11:37.269 advising many of the world's most iconic 00:11:37.279 --> 00:11:39.829 luxury brands and teaching both at 00:11:39.839 --> 00:11:42.550 PeppaDine and NYU, I've seen how quickly 00:11:42.560 --> 00:11:45.509 the luxury industry is evolving. And the 00:11:45.519 --> 00:11:48.470 reality is most universities simply 00:11:48.480 --> 00:11:51.670 can't keep up. Today's students want 00:11:51.680 --> 00:11:54.069 more than theory. You want industry 00:11:54.079 --> 00:11:57.430 relevant skills and real frameworks. You 00:11:57.440 --> 00:12:00.230 want a clear path into fast growing 00:12:00.240 --> 00:12:02.310 fields like luxury fashion, luxury 00:12:02.320 --> 00:12:04.870 beauty, luxury hospitality and other 00:12:04.880 --> 00:12:07.750 luxury sectors. That's why we created 00:12:07.760 --> 00:12:10.389 something special, ECT intelligence 00:12:10.399 --> 00:12:13.829 academia. It's a rigorous industrybacked 00:12:13.839 --> 00:12:16.710 luxury education ecosystem. 00:12:16.720 --> 00:12:19.350 It lets you add a globally recognized 00:12:19.360 --> 00:12:22.150 luxury certificate directly to your MBA 00:12:22.160 --> 00:12:24.949 or undergraduate degree. 00:12:24.959 --> 00:12:26.949 You'll get professionally produced video 00:12:26.959 --> 00:12:29.910 lessons, real case studies, practical 00:12:29.920 --> 00:12:32.710 toolkits, assessments, and a certificate 00:12:32.720 --> 00:12:35.509 recognized in the luxury industry. If 00:12:35.519 --> 00:12:37.509 you're ready to fast track your career 00:12:37.519 --> 00:12:39.910 development, stand out in a competitive 00:12:39.920 --> 00:12:43.509 job market. This is your moment. Enroll 00:12:43.519 --> 00:12:46.150 in equity intelligence today and elevate 00:12:46.160 --> 00:12:49.670 your degree and your future. 00:12:49.680 --> 00:12:51.590 >> All right, Lorenzo. So now it's the two 00:12:51.600 --> 00:12:54.470 of us uh continuing and we just started 00:12:54.480 --> 00:12:56.949 to speak about um your jewelry 00:12:56.959 --> 00:13:00.790 collection and um also the changes that 00:13:00.800 --> 00:13:03.269 have been there over time with gold 00:13:03.279 --> 00:13:06.069 prices increasing and and so on. So but 00:13:06.079 --> 00:13:09.110 tell us it maybe a little bit more about 00:13:09.120 --> 00:13:11.670 the role of jewelry the the passion of 00:13:11.680 --> 00:13:13.269 jewelry within the family and how 00:13:13.279 --> 00:13:14.870 important the jewelry collection is for 00:13:14.880 --> 00:13:16.069 you. 00:13:16.079 --> 00:13:19.350 uh let's say that uh our priority was 00:13:19.360 --> 00:13:22.870 was and is still it is the the quality. 00:13:22.880 --> 00:13:26.150 So we focus a lot on the production in 00:13:26.160 --> 00:13:28.230 Florence. Everything must be made in 00:13:28.240 --> 00:13:32.230 Flores with the design of my aunt and 00:13:32.240 --> 00:13:35.430 with all our artisan historical artisan. 00:13:35.440 --> 00:13:38.310 This was our priority. Our priority was 00:13:38.320 --> 00:13:41.750 like this. We used to make uh uh a lot 00:13:41.760 --> 00:13:44.629 of business with Americans especially in 00:13:44.639 --> 00:13:50.069 ' 70s, 80s, ' 90s. And uh the problem is 00:13:50.079 --> 00:13:52.470 then little by little especially 00:13:52.480 --> 00:13:55.990 everything changed after 11th September. 00:13:56.000 --> 00:13:56.389 >> Yeah. 00:13:56.399 --> 00:13:59.670 >> Because 11 September 201 00:13:59.680 --> 00:14:03.269 America stopped to come and so even so 00:14:03.279 --> 00:14:05.590 the market little by little changed 00:14:05.600 --> 00:14:06.470 completely. 00:14:06.480 --> 00:14:09.030 >> Mhm. And especially 00:14:09.040 --> 00:14:13.430 after a while also Asians and Chinese 00:14:13.440 --> 00:14:16.629 start to come especially in the old 00:14:16.639 --> 00:14:20.310 bridge more than for is always question 00:14:20.320 --> 00:14:23.350 of local customers but Florence 00:14:23.360 --> 00:14:26.870

the market changed completely and so 00:14:26.880 --> 00:14:29.509 what does it mean? It means that Asians 00:14:29.519 --> 00:14:31.829 they are they want brains. 00:14:31.839 --> 00:14:36.230 >> Mhm. So we started more to focus more on 00:14:36.240 --> 00:14:39.750 brands like Bulgari, like Cartier, 00:14:39.760 --> 00:14:41.829 talking about jewelries, talking about 00:14:41.839 --> 00:14:45.269 washes. We we were the first dealer of 00:14:45.279 --> 00:14:49.030 Odarp. We started a long time ago like 00:14:49.040 --> 00:14:51.670 30 years ago that the first dealer in in 00:14:51.680 --> 00:14:52.550 Toskani. 00:14:52.560 --> 00:14:56.790 >> Mhm. and uh with the AP then uh we we 00:14:56.800 --> 00:14:58.710 started with the Shopad Chanel this kind 00:14:58.720 --> 00:14:59.990 of brand 00:15:00.000 --> 00:15:02.550 >> because the market request 00:15:02.560 --> 00:15:06.629 change you know less uh demands for uh 00:15:06.639 --> 00:15:09.910 unique things and more demands for uh 00:15:09.920 --> 00:15:10.550 brands. 00:15:10.560 --> 00:15:11.670 >> Yeah. 00:15:11.680 --> 00:15:15.430 >> And uh and let's say the the most 00:15:15.440 --> 00:15:17.670 important step for our family was in 00:15:17.680 --> 00:15:20.949 2009 when we we started the marriage 00:15:20.959 --> 00:15:23.430 with uh with Rolex. Mhm. 00:15:23.440 --> 00:15:27.509 >> And uh because they they wanted to open 00:15:27.519 --> 00:15:29.350 the second boutique in Italy because the 00:15:29.360 --> 00:15:32.870 first was in Milano the year before and 00:15:32.880 --> 00:15:35.590 they choose us because the old dealer of 00:15:35.600 --> 00:15:37.509 Florence, the oldest dealer in Florence, 00:15:37.519 --> 00:15:40.629 he stopped the the relationship with 00:15:40.639 --> 00:15:44.230 Rolex. A lot of families they they ask 00:15:44.240 --> 00:15:47.269 to be to be the dealer and we and they 00:15:47.279 --> 00:15:49.430 choose us probably for the liquid for 00:15:49.440 --> 00:15:51.749 the location because we offer them the 00:15:51.759 --> 00:15:53.670 most unique place in the world. 00:15:53.680 --> 00:15:55.990 >> Mhm. And we started in a very little 00:15:56.000 --> 00:15:59.269 store. Not not this store but previous 00:15:59.279 --> 00:16:01.590 store was uh 20 mters. 00:16:01.600 --> 00:16:03.509 >> So very small. 00:16:03.519 --> 00:16:05.670 >> And we have been staying there for 6 00:16:05.680 --> 00:16:09.590 years. But in one day we we had a big 00:16:09.600 --> 00:16:13.269 chance to to purchase this store. 00:16:13.279 --> 00:16:13.590 >> Mhm. 00:16:13.600 --> 00:16:17.590 >> And we moved uh all the store there here 00:16:17.600 --> 00:16:21.590 in two floor stores. bigger stores of 00:16:21.600 --> 00:16:24.230 course but also still small for the rest 00:16:24.240 --> 00:16:25.990 of the world. This is the smallest 00:16:26.000 --> 00:16:27.509 boutique in the world now 00:16:27.519 --> 00:16:29.829 >> is the biggest in Ponte the smallest in 00:16:29.839 --> 00:16:33.749 the world but was uh you know uh big 00:16:33.759 --> 00:16:37.829 jump of quality and uh and um last month 00:16:37.839 --> 00:16:40.389 we we reopen after a big renovation 00:16:40.399 --> 00:16:43.189 because after 10 years Rolex they they 00:16:43.199 --> 00:16:45.590 make a renovation in boutique. So this 00:16:45.600 --> 00:16:49.030 time was our turn. They they made a very 00:16:49.040 --> 00:16:51.749 big investment because uh once they make 00:16:51.759 --> 00:16:55.990 a renovation a part of a big part of the 00:16:56.000 --> 00:16:58.710 the cost is Rolex cost. So Ro they made 00:16:58.720 --> 00:17:01.189 a very big investment on our family 00:17:01.199 --> 00:17:04.230 >> and uh and they they use a very high 00:17:04.240 --> 00:17:07.110 quality materials and they change 00:17:07.120 --> 00:17:09.270 completely the stores and now we 00:17:09.280 --> 00:17:12.069 reopened one months ago with a new 00:17:12.079 --> 00:17:12.710 design. 00:17:12.720 --> 00:17:14.630 >> Mhm. Yeah. Yeah, it's a wonder it's a 00:17:14.640 --> 00:17:16.150 wonderful boutique. And you told me also 00:17:16.160 --> 00:17:18.150 that there is a quite interesting 00:17:18.160 --> 00:17:23.189 history of of this place um you know um 00:17:23.199 --> 00:17:25.669 going back for hundreds of years uh with 00:17:25.679 --> 00:17:28.309 the Medici family and that there was 00:17:28.319 --> 00:17:30.870 like a secret walkway here. So maybe 00:17:30.880 --> 00:17:32.710 tell us a little bit about about that. 00:17:32.720 --> 00:17:35.110 You can see from the video that there up 00:17:35.120 --> 00:17:38.150 the wall there is the Vasarian corridor 00:17:38.160 --> 00:17:42.230 that is they say a passage that connect 00:17:42.240 --> 00:17:45.990 Palasopi to Palasov that was the the old 00:17:46.000 --> 00:17:50.150 house of Medishi family to the palace to 00:17:50.160 --> 00:17:54.870 the palace of the governator and uh he 00:17:54.880 --> 00:17:58.950 used to to walk in every day from the 00:17:58.960 --> 00:18:01.029 house to to work. 00:18:01.039 --> 00:18:05.909 >> Mhm. And uh like uh 600 years ago uh 00:18:05.919 --> 00:18:08.549 there was a full of bachelor here. They 00:18:08.559 --> 00:18:11.510 used to you know to sell meat and then 00:18:11.520 --> 00:18:15.350 they used to to leave the meats into the 00:18:15.360 --> 00:18:17.750 river. So of course the smell was 00:18:17.760 --> 00:18:22.070 terrible. So one day almost uh 500 years 00:18:22.080 --> 00:18:25.190 ago the prince Kosimo 00:18:25.200 --> 00:18:28.870 he decides to he was tired of this mail 00:18:28.880 --> 00:18:31.270 and he said 00:18:31.280 --> 00:18:35.110 stop it from tomorrow the bachelor over 00:18:35.120 --> 00:18:39.830 only uh jewelries. So he make a new law 00:18:39.840 --> 00:18:43.990 and the day after jewelry arrived. So 00:18:44.000 --> 00:18:46.310 probably without this law we used to 00:18:46.320 --> 00:18:48.789 sell meats. Who knows? So this was very 00:18:48.799

--> 00:18:52.630 important for the history and uh and um 00:18:52.640 --> 00:18:55.110 yeah and this uh everything changed from 00:18:55.120 --> 00:18:56.549 from him 00:18:56.559 --> 00:18:58.470 >> was uh very funny story. 00:18:58.480 --> 00:19:01.909 >> Yeah. And and speaking about uh about 00:19:01.919 --> 00:19:04.470 change and we we kind of tapped into 00:19:04.480 --> 00:19:06.150 that a little bit in in a little bit 00:19:06.160 --> 00:19:09.029 earlier in the conversation. Um and you 00:19:09.039 --> 00:19:11.909 also you just mentioned that um the over 00:19:11.919 --> 00:19:15.190 the last 20 25 years since the beginning 00:19:15.200 --> 00:19:18.070 of the 2000s also your customer base 00:19:18.080 --> 00:19:21.590 changed um with now more Asian Asian 00:19:21.600 --> 00:19:25.430 travelers being here um and and so a 00:19:25.440 --> 00:19:27.430 different composition of of travelers. 00:19:27.440 --> 00:19:30.310 But I can also imagine uh not only from 00:19:30.320 --> 00:19:31.669 different regions but maybe also 00:19:31.679 --> 00:19:34.630 different age groups. Um what do you see 00:19:34.640 --> 00:19:36.950 is the biggest change for example also 00:19:36.960 --> 00:19:38.870 when you when you think about the demand 00:19:38.880 --> 00:19:41.350 of your watches. Um and I could see in 00:19:41.360 --> 00:19:43.590 the store first how how busy it is. So 00:19:43.600 --> 00:19:46.710 lots of people on a Sunday morning here. 00:19:46.720 --> 00:19:49.029 Um, but also when I came when I walked 00:19:49.039 --> 00:19:50.870 up here to the beautiful room in which 00:19:50.880 --> 00:19:52.950 we're in right now, I could overhear 00:19:52.960 --> 00:19:55.110 that there was a customer looking for I 00:19:55.120 --> 00:19:58.710 think a 60 or $70,000 watch. So, how how 00:19:58.720 --> 00:20:00.630 are how are the changes that you're 00:20:00.640 --> 00:20:04.470 seeing right now in the in the customers 00:20:04.480 --> 00:20:06.789 also how educated the customers are? Are 00:20:06.799 --> 00:20:08.710 they looking more for special pieces 00:20:08.720 --> 00:20:11.110 today than they looked 10 years or 15 00:20:11.120 --> 00:20:12.710 years ago? So, tell us a little bit 00:20:12.720 --> 00:20:16.150 about that. uh let's say that uh like 00:20:16.160 --> 00:20:20.070 before covid was completely uh another 00:20:20.080 --> 00:20:23.590 word even demands was was less you know 00:20:23.600 --> 00:20:26.390 was a different work we used to 00:20:26.400 --> 00:20:30.390 >> to meet to work with a lot of big group 00:20:30.400 --> 00:20:34.070 of Chinese every day and our job except 00:20:34.080 --> 00:20:37.510 the job with locals that is still very 00:20:37.520 --> 00:20:41.350 important we let's say that our our job 00:20:41.360 --> 00:20:44.310 was half with Americans and half with 00:20:44.320 --> 00:20:47.029 Chinese with especially with a lot of 00:20:47.039 --> 00:20:49.590 groups with tour guide and work like 00:20:49.600 --> 00:20:53.350 this. The fact is then after co 00:20:53.360 --> 00:20:57.270 everything changed because you know uh 00:20:57.280 --> 00:21:00.549 many people they they started to they 00:21:00.559 --> 00:21:03.110 were looking for something to invest 00:21:03.120 --> 00:21:07.350 >> you know to to to take money from the 00:21:07.360 --> 00:21:10.310 bank and find a way secure without any 00:21:10.320 --> 00:21:13.990 risk to invest the money. Rolex was the 00:21:14.000 --> 00:21:18.070 you know the the brand especially 00:21:18.080 --> 00:21:20.789 the part where many many customers they 00:21:20.799 --> 00:21:24.230 they they you know they they they invest 00:21:24.240 --> 00:21:27.590 their money. The problem is uh so this 00:21:27.600 --> 00:21:31.750 in numbers before co let's say that 00:21:31.760 --> 00:21:33.590 Rolex they don't say how many watches 00:21:33.600 --> 00:21:36.630 they produce but normally uh we can 00:21:36.640 --> 00:21:38.630 imagine around more than 1 million 00:21:38.640 --> 00:21:40.710 1,200,000 watches. 00:21:40.720 --> 00:21:44.710 >> Mhm. Before co the demands was like 300 00:21:44.720 --> 00:21:47.669 400,000. So this it means that everybody 00:21:47.679 --> 00:21:49.750 had used to have it watches in the 00:21:49.760 --> 00:21:52.470 window for sale without any problems. 00:21:52.480 --> 00:21:56.230 >> After this uh the the covid a lot of 00:21:56.240 --> 00:22:00.230 speculations as I told you so in numbers 00:22:00.240 --> 00:22:03.750 the request was around 7 millions. 00:22:03.760 --> 00:22:09.029 This I'm talking about 2000 end of 2020 00:22:09.039 --> 00:22:13.669 2021 let's see so 00:22:13.679 --> 00:22:16.789 immediately uh we started to have 00:22:16.799 --> 00:22:18.950 waiting list for all for for object for 00:22:18.960 --> 00:22:23.029 all uh the watches many people they they 00:22:23.039 --> 00:22:25.750 buy and resale and this is was terrible 00:22:25.760 --> 00:22:29.190 because you know normally we uh our our 00:22:29.200 --> 00:22:31.909 mission especially talk about washes is 00:22:31.919 --> 00:22:36.710 to to you know to to buy watch to keep 00:22:36.720 --> 00:22:38.310 you know one day you're going to give to 00:22:38.320 --> 00:22:39.190 your son. 00:22:39.200 --> 00:22:39.669 >> Yeah. 00:22:39.679 --> 00:22:42.390 >> And a lot of emotions you know also us 00:22:42.400 --> 00:22:44.310 we normally we we try to give an 00:22:44.320 --> 00:22:45.029 experience. 00:22:45.039 --> 00:22:45.350 >> Yeah. 00:22:45.360 --> 00:22:46.230 >> You know 00:22:46.240 --> 00:22:49.270 >> and for 2 years this experience was lost 00:22:49.280 --> 00:22:52.310 because for 2 years more or less there 00:22:52.320 --> 00:22:54.710 was this problem. So also parallel 00:22:54.720 --> 00:22:58.149 market like secondary market prices rise 00:22:58.159 --> 00:23:01.430 up a lot. So for two years was crazy 00:23:01.440 --> 00:23:04.390 like this. We I remember that we have 00:23:04.400 --> 00:23:06.789 been staying

long time without selling 00:23:06.799 --> 00:23:08.549 any watch to tourists 00:23:08.559 --> 00:23:10.710 >> because especially Italians they they 00:23:10.720 --> 00:23:13.909 they started to ask all kind of watches. 00:23:13.919 --> 00:23:16.390 So for us was terrible to stay in a 00:23:16.400 --> 00:23:19.669 place like this with 12 millions people 00:23:19.679 --> 00:23:21.350 that passing through the bridge every 00:23:21.360 --> 00:23:22.149 year 00:23:22.159 --> 00:23:24.070 >> without selling anything to tourists. So 00:23:24.080 --> 00:23:26.470 it was very frustrating for us you know. 00:23:26.480 --> 00:23:28.710 Well, one day 00:23:28.720 --> 00:23:32.950 more or less 2023, the bubble of the 00:23:32.960 --> 00:23:34.789 speculations exploded. 00:23:34.799 --> 00:23:35.350 >> Mhm. 00:23:35.360 --> 00:23:40.870 >> And uh and finally, little by little, we 00:23:40.880 --> 00:23:43.909 started to to work like before 00:23:43.919 --> 00:23:47.110 >> because after 2 years now in 2025, I can 00:23:47.120 --> 00:23:49.909 say that uh we are very close like 00:23:49.919 --> 00:23:51.510 before co 00:23:51.520 --> 00:23:53.270 >> this is what what does it means? It 00:23:53.280 --> 00:23:56.230 means that of course we have watches 00:23:56.240 --> 00:23:58.950 that you cannot jump in and buy right 00:23:58.960 --> 00:23:59.430 now. 00:23:59.440 --> 00:23:59.990 >> Yeah. 00:24:00.000 --> 00:24:02.549 >> But uh thanks to God we are talking 00:24:02.559 --> 00:24:04.630 about a brand that the collection is 00:24:04.640 --> 00:24:07.110 huge. So you know there are many 00:24:07.120 --> 00:24:10.070 different models that if you come in the 00:24:10.080 --> 00:24:13.590 right moment you know and you pass 00:24:13.600 --> 00:24:15.990 through the bridge and you come you jump 00:24:16.000 --> 00:24:18.789 in you come in you you can buy I mean 00:24:18.799 --> 00:24:20.149 >> so like before. 00:24:20.159 --> 00:24:23.669 >> Mhm. So this it means that uh that uh 00:24:23.679 --> 00:24:26.789 now we are coming back on the old time 00:24:26.799 --> 00:24:29.750 like we are normally you know used to 00:24:29.760 --> 00:24:34.310 used to do it and uh and because our our 00:24:34.320 --> 00:24:38.070 mission our goal is to you come here 00:24:38.080 --> 00:24:39.190 like a family. 00:24:39.200 --> 00:24:39.750 >> Mhm. 00:24:39.760 --> 00:24:41.830 >> This is what makes us different because 00:24:41.840 --> 00:24:44.630 you you see you come here no filter. 00:24:44.640 --> 00:24:45.029 >> Yeah. 00:24:45.039 --> 00:24:48.630 >> No doorman no security nothing. 00:24:48.640 --> 00:24:50.630 Everything is very open, very simple. 00:24:50.640 --> 00:24:51.190 >> Yeah. 00:24:51.200 --> 00:24:53.510 >> And this is what uh make make the 00:24:53.520 --> 00:24:55.669 difference in the luxury shop because 00:24:55.679 --> 00:25:00.070 sometimes in boutique like usuh you come 00:25:00.080 --> 00:25:02.070 you come in you have to make a 00:25:02.080 --> 00:25:03.990 appointment you have to you know you 00:25:04.000 --> 00:25:06.230 feel the pressure of the brands here we 00:25:06.240 --> 00:25:09.430 try to to you come you come in caset 00:25:09.440 --> 00:25:13.110 stores talk about roles but in all our 00:25:13.120 --> 00:25:15.190 different stores and you feel like a 00:25:15.200 --> 00:25:16.390 family. Mhm. 00:25:16.400 --> 00:25:18.789 >> This is very important from my aunt, 00:25:18.799 --> 00:25:20.310 from my father. 00:25:20.320 --> 00:25:22.710 >> We study all different things. We we 00:25:22.720 --> 00:25:24.390 made I can show you later. 00:25:24.400 --> 00:25:27.029 >> A special box that we are the only one 00:25:27.039 --> 00:25:29.669 in the world like an additional box with 00:25:29.679 --> 00:25:34.950 the Ponte Veio uh let's say symbol green 00:25:34.960 --> 00:25:37.510 additional to the standard one of course 00:25:37.520 --> 00:25:39.510 only here you know. 00:25:39.520 --> 00:25:41.590 >> Then we make a book. My father made a 00:25:41.600 --> 00:25:44.230 book of Ponteveo. Then we customize the 00:25:44.240 --> 00:25:46.549 shopping bag all different things to 00:25:46.559 --> 00:25:48.470 give you an experience. This is very 00:25:48.480 --> 00:25:51.190 important because especially after COVID 00:25:51.200 --> 00:25:52.950 many people they get frustrated because 00:25:52.960 --> 00:25:56.230 they come inside nothing to buy the you 00:25:56.240 --> 00:25:59.430 know the employees are very rude 00:25:59.440 --> 00:26:01.269 >> because also sometimes they don't have 00:26:01.279 --> 00:26:02.549 anything to sell and they are 00:26:02.559 --> 00:26:04.070 frustrating as well but it doesn't 00:26:04.080 --> 00:26:06.710 matter. I mean even I can tell you that 00:26:06.720 --> 00:26:09.029 even once I don't have anything to sell 00:26:09.039 --> 00:26:11.669 I spend my time to talk to people 00:26:11.679 --> 00:26:13.909 >> to spend because sometimes a customer it 00:26:13.919 --> 00:26:17.269 needs just 10 minutes to share you know 00:26:17.279 --> 00:26:20.390 >> even the situation and then 00:26:20.400 --> 00:26:22.149 >> if I don't have anything here I bring 00:26:22.159 --> 00:26:24.070 him in another store maybe can buy 00:26:24.080 --> 00:26:25.669 another brand you never know 00:26:25.679 --> 00:26:28.310 >> so for us welcome is the most important 00:26:28.320 --> 00:26:32.070 thing anyway but uh now thanks to God we 00:26:32.080 --> 00:26:34.390 are we are in a better situation 00:26:34.400 --> 00:26:37.909 And uh but who comes here first has to 00:26:37.919 --> 00:26:40.230 enjoy the experience to come in our 00:26:40.240 --> 00:26:41.190 stores. 00:26:41.200 --> 00:26:42.870 >> This is what everybody says our 00:26:42.880 --> 00:26:46.310 customers says that nobody is like us. 00:26:46.320 --> 00:26:49.190 >> Yeah. This is also for the for our 00:26:49.200 --> 00:26:51.669 unicity to be the the smallest boutique 00:26:51.679 --> 00:26:54.789 in the world because from one hand is

a 00:26:54.799 --> 00:26:56.950 negative thing but from the other the 00:26:56.960 --> 00:27:00.630 other hand you feel the the warm of uh 00:27:00.640 --> 00:27:03.590 of us you know is uh because sometimes 00:27:03.600 --> 00:27:06.950 when when you come inside a huge store 00:27:06.960 --> 00:27:09.510 you you feel too small you feel like a 00:27:09.520 --> 00:27:10.470 numbers 00:27:10.480 --> 00:27:12.710 >> here you come here you are a person with 00:27:12.720 --> 00:27:13.990 a name with a name 00:27:14.000 --> 00:27:17.269 >> it's a very it's a very It's a very 00:27:17.279 --> 00:27:20.950 intimate It's a very intimate uh um it's 00:27:20.960 --> 00:27:23.269 a very intimate setting. Uh this I could 00:27:23.279 --> 00:27:26.390 feel from um from from you know being 00:27:26.400 --> 00:27:29.590 here and coming up. So 00:27:29.600 --> 00:27:32.390 I'm Dr. Daniel Langanger. I advise some 00:27:32.400 --> 00:27:34.549 of the most iconic luxury brands in the 00:27:34.559 --> 00:27:36.149 world and I'm also the executive 00:27:36.159 --> 00:27:37.909 professor of luxury strategy at 00:27:37.919 --> 00:27:40.870 Pepperdine University and I teach luxury 00:27:40.880 --> 00:27:44.149 at NYU. The luxury industry is changing 00:27:44.159 --> 00:27:46.630 faster than ever before. dramatically 00:27:46.640 --> 00:27:48.789 shifting consumer expectations, the rise 00:27:48.799 --> 00:27:51.990 of Gen Z and AI are redefining what 00:27:52.000 --> 00:27:55.590 luxury means today. And this means 00:27:55.600 --> 00:27:58.070 companies must operate in a radically 00:27:58.080 --> 00:28:00.950 different way. This moment demands 00:28:00.960 --> 00:28:04.149 action and this is why we created EC 00:28:04.159 --> 00:28:06.549 intelligence. It redefineses luxury 00:28:06.559 --> 00:28:08.789 training for top management, marketing, 00:28:08.799 --> 00:28:11.669 sales teams, and clientcentric roles. is 00:28:11.679 --> 00:28:13.830 an innovative digital learning solution 00:28:13.840 --> 00:28:15.909 that equips your teams with the 00:28:15.919 --> 00:28:18.710 strategic capabilities needed for the 00:28:18.720 --> 00:28:21.590 next era of luxury. Our platform 00:28:21.600 --> 00:28:24.070 delivers real world insights and tools 00:28:24.080 --> 00:28:26.870 your teams can apply immediately. The 00:28:26.880 --> 00:28:29.190 world's leading brands trust us to 00:28:29.200 --> 00:28:31.029 prepare their teams for this 00:28:31.039 --> 00:28:34.230 transformation. And this is your moment 00:28:34.240 --> 00:28:38.789 to futureproof your organization. 00:28:38.799 --> 00:28:44.310 And uh how do you manage to to um uh to 00:28:44.320 --> 00:28:47.430 deliver this consistently? Do you how do 00:28:47.440 --> 00:28:49.990 you train the staff? Do you how do you 00:28:50.000 --> 00:28:52.470 how do you make the the values this kind 00:28:52.480 --> 00:28:55.750 of family values and that um clear to 00:28:55.760 --> 00:28:57.110 also your your staff? 00:28:57.120 --> 00:28:59.590 >> Uh we have to say that we are lucky. We 00:28:59.600 --> 00:29:02.870 are lucky here in in Boutique of Fr. But 00:29:02.880 --> 00:29:05.110 I can say the same for all the new 00:29:05.120 --> 00:29:08.470 stores. mainly they are quite historical 00:29:08.480 --> 00:29:11.430 stuff. Of course, we opened for example 00:29:11.440 --> 00:29:14.710 the boutique of JJ of Yutra 00:29:14.720 --> 00:29:17.510 last year. So we we we we have a new 00:29:17.520 --> 00:29:18.549 staff 00:29:18.559 --> 00:29:22.549 >> but mainly like 70 80% of our stuff is 00:29:22.559 --> 00:29:23.669 historical 00:29:23.679 --> 00:29:25.750 >> for us 00:29:25.760 --> 00:29:28.310 every when I when I told you about the 00:29:28.320 --> 00:29:29.269 family 00:29:29.279 --> 00:29:31.190 >> of course it's customers but first is 00:29:31.200 --> 00:29:34.630 for our employees you know so for us 00:29:34.640 --> 00:29:38.470 it's very hard that somebody go away 00:29:38.480 --> 00:29:42.149 from our family normally we we had many 00:29:42.159 --> 00:29:45.669 many employees they started like uh you 00:29:45.679 --> 00:29:48.470 know like the guy that clean the door 00:29:48.480 --> 00:29:52.630 and then after a long career he retired 00:29:52.640 --> 00:29:55.750 like a director many times you know it's 00:29:55.760 --> 00:29:58.789 very this is our policy we try 00:29:58.799 --> 00:30:01.190 >> it's not easy especially now to find 00:30:01.200 --> 00:30:03.510 people they you know they want to stay 00:30:03.520 --> 00:30:05.830 because sometimes people they they like 00:30:05.840 --> 00:30:08.310 also to move it's not easy to find the 00:30:08.320 --> 00:30:11.350 people that they are like like us 00:30:11.360 --> 00:30:13.269 >> you know because it's like a marriage 00:30:13.279 --> 00:30:18.470 you know But uh I can say that normally 00:30:18.480 --> 00:30:21.669 everybody starts with us and and ends 00:30:21.679 --> 00:30:23.350 with us 00:30:23.360 --> 00:30:27.190 >> and uh and once you you breathe 00:30:27.200 --> 00:30:31.269 >> the our uh you know our way you know is 00:30:31.279 --> 00:30:33.269 easy to 00:30:33.279 --> 00:30:35.110 let's say that our selection is also 00:30:35.120 --> 00:30:37.029 like this to find people they are 00:30:37.039 --> 00:30:40.630 empathic people that uh they want to you 00:30:40.640 --> 00:30:44.630 know to to make a long relationship with 00:30:44.640 --> 00:30:46.950 Because we normally we invest a lot of 00:30:46.960 --> 00:30:49.510 money to do stuff to do training with 00:30:49.520 --> 00:30:52.389 brands you know things like this we 00:30:52.399 --> 00:30:54.230 spend a lot of time so we want people 00:30:54.240 --> 00:30:56.389 that they want to stay 00:30:56.399 --> 00:30:58.789 >> this the most but once we found it we 00:30:58.799 --> 00:30:59.990 found them 00:31:00.000 --> 00:31:01.510 >> we 00:31:01.520 --> 00:31:04.630 I can say that almost all yeah they 00:31:04.640 --> 00:31:06.149 started their ends with us

00:31:06.159 --> 00:31:09.190 >> because this is our policy like a family 00:31:09.200 --> 00:31:11.669 also especially with employees not only 00:31:11.679 --> 00:31:14.070 with customers. Yeah. And you mentioned 00:31:14.080 --> 00:31:17.669 also training on the brands and on and I 00:31:17.679 --> 00:31:19.350 can imagine also when you have a new 00:31:19.360 --> 00:31:21.269 model that comes out, a new watch model 00:31:21.279 --> 00:31:25.269 is al also important to um to understand 00:31:25.279 --> 00:31:27.430 basically the um you know the 00:31:27.440 --> 00:31:29.669 differences. And I remember a 00:31:29.679 --> 00:31:31.350 conversation that I had with a very good 00:31:31.360 --> 00:31:33.830 friend of mine in um also in the watch 00:31:33.840 --> 00:31:36.549 industry who who told me that there's 00:31:36.559 --> 00:31:38.310 different types of customers. So some 00:31:38.320 --> 00:31:39.830 customers want to know everything about 00:31:39.840 --> 00:31:42.230 the movement. Other customers want to 00:31:42.240 --> 00:31:44.549 know everything about the design and so 00:31:44.559 --> 00:31:47.430 on. Um and also with with so many 00:31:47.440 --> 00:31:49.190 different models I can imagine this is 00:31:49.200 --> 00:31:52.470 also not not that easy to um to do that. 00:31:52.480 --> 00:31:55.909 So how do you how do you um train um for 00:31:55.919 --> 00:31:57.750 these things and maybe tell us a little 00:31:57.760 --> 00:31:59.990 bit about these differences of different 00:32:00.000 --> 00:32:02.710 customer types, different different 00:32:02.720 --> 00:32:05.990 interests that they have in um in 00:32:06.000 --> 00:32:09.350 watches. Let's say that uh normally all 00:32:09.360 --> 00:32:11.909 our brands they they have different way 00:32:11.919 --> 00:32:14.310 of training. There are some brands they 00:32:14.320 --> 00:32:17.509 send the guy to that make the training 00:32:17.519 --> 00:32:19.830 inside the store. But the most important 00:32:19.840 --> 00:32:22.630 brands like Cartier, like Tudor that in 00:32:22.640 --> 00:32:25.269 the same family of Rolex, Rolex, 00:32:25.279 --> 00:32:28.310 Basheron, you normally you have the 00:32:28.320 --> 00:32:31.669 privilege to to make to Omega to make 00:32:31.679 --> 00:32:35.750 the training inside the house or in the 00:32:35.760 --> 00:32:38.870 let's say in the in the factory in 00:32:38.880 --> 00:32:41.750 Italy, but sometimes 00:32:41.760 --> 00:32:44.710 in Switzerland. M so you can you imagine 00:32:44.720 --> 00:32:47.110 you go there you can see how they make 00:32:47.120 --> 00:32:50.789 Vashon Constanten or how they make Omega 00:32:50.799 --> 00:32:54.870 or JJ sometime I can say that this year 00:32:54.880 --> 00:32:57.350 we have the privilege to send 10 00:32:57.360 --> 00:33:01.029 customers of Jerger Le to see how they 00:33:01.039 --> 00:33:02.870 make a watch and this is the kind of 00:33:02.880 --> 00:33:05.430 experience that is priceless you know 00:33:05.440 --> 00:33:07.669 >> because it's a way to to love more the 00:33:07.679 --> 00:33:10.870 brands if you see how the quality you 00:33:10.880 --> 00:33:12.549 touch the quality you see the technique 00:33:12.559 --> 00:33:14.710 missions they make a movement. I mean 00:33:14.720 --> 00:33:17.350 something unbelievable and priceless. 00:33:17.360 --> 00:33:18.149 >> Mhm. 00:33:18.159 --> 00:33:21.350 >> I can say that um you you touch an 00:33:21.360 --> 00:33:25.669 important um um a key part of our job 00:33:25.679 --> 00:33:29.750 and uh two uh it's question of 00:33:29.760 --> 00:33:32.950 experience most of the time. I can say I 00:33:32.960 --> 00:33:35.830 started with Rolex almost 20 years ago. 00:33:35.840 --> 00:33:39.269 >> Yeah. So I saw all the changement and I 00:33:39.279 --> 00:33:43.909 can say that before was uh was um I saw 00:33:43.919 --> 00:33:46.950 many changement this is the moment to be 00:33:46.960 --> 00:33:47.830 empathic. 00:33:47.840 --> 00:33:48.389 >> Yeah. 00:33:48.399 --> 00:33:51.269 >> And very important to see 00:33:51.279 --> 00:33:54.230 >> who is in front of you because uh 00:33:54.240 --> 00:33:57.350 >> I have this the the tools to see if 00:33:57.360 --> 00:33:59.350 somebody in front of me want to know 00:33:59.360 --> 00:34:01.269 something more of the movement if 00:34:01.279 --> 00:34:03.110 somebody want to talk about something 00:34:03.120 --> 00:34:05.269 else. I mean we have to to be also 00:34:05.279 --> 00:34:08.550 psychologist also talk about roles but 00:34:08.560 --> 00:34:11.349 can you imagine for a basher constant 00:34:11.359 --> 00:34:13.669 that normally we can sell watches for 00:34:13.679 --> 00:34:17.990 100,000 €200,000 JJ the same I mean this 00:34:18.000 --> 00:34:22.149 is a for all brands we have uh we have 00:34:22.159 --> 00:34:24.230 to see we have to change we have to be 00:34:24.240 --> 00:34:26.069 like 00:34:26.079 --> 00:34:27.669 come 00:34:27.679 --> 00:34:30.869 >> to change it depends who who is in front 00:34:30.879 --> 00:34:34.389 of you for Rolex I I think that the most 00:34:34.399 --> 00:34:36.470 important thing as I told you many times 00:34:36.480 --> 00:34:39.109 is to be empathic to this is the most 00:34:39.119 --> 00:34:40.950 important thing because of course I 00:34:40.960 --> 00:34:44.149 heard many times the the sentence is 00:34:44.159 --> 00:34:46.470 easy to sell a Rolex you don't need to 00:34:46.480 --> 00:34:48.790 explain most of the time you don't need 00:34:48.800 --> 00:34:51.430 to you know the customer already know 00:34:51.440 --> 00:34:54.069 everything you just question to find the 00:34:54.079 --> 00:34:56.470 watch is true for one way for the other 00:34:56.480 --> 00:34:59.510 way you have to consider that especially 00:34:59.520 --> 00:35:03.349 here we have normally daily 300 entrance 00:35:03.359 --> 00:35:05.589 every day without any filters. 00:35:05.599 --> 00:35:06.150 >> Yeah. 00:35:06.160 --> 00:35:08.630 >>

90% of people ask me same watches that I 00:35:08.640 --> 00:35:09.910 don't have. 00:35:09.920 --> 00:35:12.950 >> So my So what what can I say? What can I 00:35:12.960 --> 00:35:14.150 do? 00:35:14.160 --> 00:35:17.589 >> I have to try to to be kind. 00:35:17.599 --> 00:35:18.150 >> Mhm. 00:35:18.160 --> 00:35:20.870 >> Maybe to make a joke also to to make 00:35:20.880 --> 00:35:24.470 some like to make more more easy more 00:35:24.480 --> 00:35:26.790 life situation. If I'm depressed, 00:35:26.800 --> 00:35:29.109 >> the customer is angry and I'm depressed 00:35:29.119 --> 00:35:30.470 because I don't have the watch, you 00:35:30.480 --> 00:35:32.150 know, everything is over. We start to 00:35:32.160 --> 00:35:35.750 cry. I mean so we have we have to to be 00:35:35.760 --> 00:35:40.630 >> concentrated from 10 to 7 and uh four 00:35:40.640 --> 00:35:43.030 maybe also 100 times it's not easy 00:35:43.040 --> 00:35:44.870 >> especially two years ago that I didn't 00:35:44.880 --> 00:35:46.069 have anything 00:35:46.079 --> 00:35:47.990 >> now it's better because thanks to God we 00:35:48.000 --> 00:35:51.109 are we are selling every day something 00:35:51.119 --> 00:35:53.349 especially to Americans Chinese is 00:35:53.359 --> 00:35:57.109 almost uh uh over uh they are coming 00:35:57.119 --> 00:36:00.790 back but groups like before is is 00:36:00.800 --> 00:36:03.430 finished So mainly we deal with 00:36:03.440 --> 00:36:04.310 Americans. 00:36:04.320 --> 00:36:04.790 >> M 00:36:04.800 --> 00:36:09.190 >> and uh yeah and um when I don't sell 00:36:09.200 --> 00:36:11.270 because I don't have the pieces I have 00:36:11.280 --> 00:36:15.030 to spend my time in the same way in the 00:36:15.040 --> 00:36:17.190 same way. And trust me it's not easy to 00:36:17.200 --> 00:36:20.870 do this thing at 10:00 in the morning 00:36:20.880 --> 00:36:24.630 and at 7:00 after 9 hours you know in 00:36:24.640 --> 00:36:25.990 the same way. Yeah, 00:36:26.000 --> 00:36:29.270 >> because if I make a mistake and I miss 00:36:29.280 --> 00:36:31.030 something, 00:36:31.040 --> 00:36:33.589 customer complain to Rolex, customer 00:36:33.599 --> 00:36:35.829 leave a bad review and anyway customer 00:36:35.839 --> 00:36:37.829 is not uh happy. Yeah, 00:36:37.839 --> 00:36:40.230 >> I saw many many clients they they give 00:36:40.240 --> 00:36:43.430 me a nag just for 10 minutes chat 00:36:43.440 --> 00:36:45.190 >> you know even without buying they give 00:36:45.200 --> 00:36:48.390 me five stars just for a a quick chat 00:36:48.400 --> 00:36:52.230 because our colleagues sometimes uh they 00:36:52.240 --> 00:36:55.750 are very rude or I can also understand 00:36:55.760 --> 00:36:56.069 yeah 00:36:56.079 --> 00:37:01.109 >> because no watches but uh our our job is 00:37:01.119 --> 00:37:04.790 this one sell but also spend our time to 00:37:04.800 --> 00:37:06.950 give an experience even if you don't 00:37:06.960 --> 00:37:07.829 have the watch. 00:37:07.839 --> 00:37:08.470 >> Yeah, 00:37:08.480 --> 00:37:09.910 >> this is a casi policy. 00:37:09.920 --> 00:37:11.910 >> Yeah, I think this is wonderful what you 00:37:11.920 --> 00:37:14.630 said, you know, when the focus on um 00:37:14.640 --> 00:37:16.150 empathy 00:37:16.160 --> 00:37:19.589 um and I I think this is uh um it's it's 00:37:19.599 --> 00:37:21.589 really important especially as as you 00:37:21.599 --> 00:37:24.150 said nowadays. So Lorenza, I think that 00:37:24.160 --> 00:37:26.550 the point that you made about empathy um 00:37:26.560 --> 00:37:28.710 I I was just listening so fascinated 00:37:28.720 --> 00:37:31.750 because this is something that um is 00:37:31.760 --> 00:37:33.349 very close to my heart and I wanted to 00:37:33.359 --> 00:37:35.510 actually actually ask you the question 00:37:35.520 --> 00:37:38.069 what luxury is for you and but from what 00:37:38.079 --> 00:37:40.470 I could understand from the conversation 00:37:40.480 --> 00:37:43.270 my guess is it goes really into this 00:37:43.280 --> 00:37:46.870 idea of the customer service the empathy 00:37:46.880 --> 00:37:49.750 the the what you can do for the 00:37:49.760 --> 00:37:52.470 customers. Would that be correct? Yeah. 00:37:52.480 --> 00:37:55.109 Uh we believe a lot uh as I told you 00:37:55.119 --> 00:37:56.870 many times, sorry, but this is the key 00:37:56.880 --> 00:38:02.630 of our uh uh policy style is uh the the 00:38:02.640 --> 00:38:04.230 experience. 00:38:04.240 --> 00:38:06.470 Of course, everything starts from uh 00:38:06.480 --> 00:38:07.670 from the location. 00:38:07.680 --> 00:38:08.310 >> Yeah. 00:38:08.320 --> 00:38:11.589 >> Because uh once you come inside uh for 00:38:11.599 --> 00:38:14.310 the first time and you see our window, 00:38:14.320 --> 00:38:16.710 our several windows 00:38:16.720 --> 00:38:20.630 uh let's say is priceless. Erh 00:38:20.640 --> 00:38:24.550 all our guest especially Americans they 00:38:24.560 --> 00:38:26.550 they are more emotionals than Asians 00:38:26.560 --> 00:38:28.790 normally Asians everything is focused on 00:38:28.800 --> 00:38:32.150 the purchase Americans they they they 00:38:32.160 --> 00:38:35.109 they also want to share uh this is why 00:38:35.119 --> 00:38:37.750 we love Americans since a long time 00:38:37.760 --> 00:38:40.069 because it's easy to to make a 00:38:40.079 --> 00:38:43.510 relationship with them because uh is 00:38:43.520 --> 00:38:46.790 always question of coming back so is you 00:38:46.800 --> 00:38:51.510 know they always uh if you uh if you if 00:38:51.520 --> 00:38:53.670 you have the right behave 00:38:53.680 --> 00:38:56.150 >> uh it's very easy to to connect with 00:38:56.160 --> 00:38:56.550 them. 00:38:56.560 --> 00:38:57.109 >> Yeah. 00:38:57.119 --> 00:39:00.150 >> And uh also because they they they love 00:39:00.160 --> 00:39:02.710 beautiful things. They love when they 00:39:02.720 --> 00:39:06.069 see my stores that is full of history 00:39:06.079 --> 00:39:09.670 and

to also the view when they start to 00:39:09.680 --> 00:39:13.109 to see my history also of my family 00:39:13.119 --> 00:39:15.589 through the book that we give also the 00:39:15.599 --> 00:39:21.510 box and uh you know they they always are 00:39:21.520 --> 00:39:25.510 speechless and they and they always send 00:39:25.520 --> 00:39:28.550 me friends or once they come back they 00:39:28.560 --> 00:39:30.310 we always say 00:39:30.320 --> 00:39:32.950 >> it doesn't matter to purchase again just 00:39:32.960 --> 00:39:36.310 question of a quick coffee to say hello 00:39:36.320 --> 00:39:38.870 and so we have several cast all all 00:39:38.880 --> 00:39:41.270 around the the the year during the year 00:39:41.280 --> 00:39:42.710 the same year also 00:39:42.720 --> 00:39:44.950 >> they come back just to say hello they 00:39:44.960 --> 00:39:46.950 they send me a lot of friends 00:39:46.960 --> 00:39:48.870 >> and this is uh you know the most 00:39:48.880 --> 00:39:50.470 important thing for us 00:39:50.480 --> 00:39:53.030 >> because normally with the locals is very 00:39:53.040 --> 00:39:56.310 easy to make a relationship with uh you 00:39:56.320 --> 00:39:59.030 know tourists less but with Americans 00:39:59.040 --> 00:40:00.470 historically we have a bigger 00:40:00.480 --> 00:40:02.069 relationship ship 00:40:02.079 --> 00:40:04.230 >> especially now honestly 00:40:04.240 --> 00:40:06.630 >> and and so this is what is a luxury for 00:40:06.640 --> 00:40:09.190 us of course uh everything everything 00:40:09.200 --> 00:40:14.550 starts from brands and um and especially 00:40:14.560 --> 00:40:16.870 important brands like I told you 00:40:16.880 --> 00:40:20.870 Basheron like JJ like Rolex Cartier 00:40:20.880 --> 00:40:23.510 Tudor Omega 00:40:23.520 --> 00:40:26.950 >> but we have to make the plus 00:40:26.960 --> 00:40:29.589 >> because when you buy 00:40:29.599 --> 00:40:32.470 Cartiier You buy a Rolex, you buy Omega, 00:40:32.480 --> 00:40:34.230 the watch is the same all around the 00:40:34.240 --> 00:40:35.990 world. We have to make the plus. 00:40:36.000 --> 00:40:36.790 >> Yeah. 00:40:36.800 --> 00:40:39.349 >> So this is also this is the complete 00:40:39.359 --> 00:40:41.750 walls of luxury for us. Of course, 00:40:41.760 --> 00:40:43.910 everything starts from beautiful things, 00:40:43.920 --> 00:40:47.670 >> but you have to add location, the 00:40:47.680 --> 00:40:50.470 family, empathy, you know, these kind of 00:40:50.480 --> 00:40:54.470 things to make the final experience. and 00:40:54.480 --> 00:40:56.630 and this is the target to you know to 00:40:56.640 --> 00:41:00.069 have royal customers that they will make 00:41:00.079 --> 00:41:01.670 a long relationship with you. 00:41:01.680 --> 00:41:02.150 >> Yeah. 00:41:02.160 --> 00:41:04.950 >> This these our targets since the 00:41:04.960 --> 00:41:07.670 beginning of our uh uh journey. 00:41:07.680 --> 00:41:09.030 >> M 00:41:09.040 --> 00:41:11.190 >> Yeah. Yeah. I love that. I think this 00:41:11.200 --> 00:41:13.270 this is really where where the also the 00:41:13.280 --> 00:41:16.550 the future of luxury is is going. Um 00:41:16.560 --> 00:41:18.390 what would you say because also the the 00:41:18.400 --> 00:41:20.950 our podcast is is called the future of 00:41:20.960 --> 00:41:24.309 luxury. Um what for you where where do 00:41:24.319 --> 00:41:26.790 you see the market heading? Where do you 00:41:26.800 --> 00:41:30.790 see the um the uh the future of this 00:41:30.800 --> 00:41:32.230 this business? 00:41:32.240 --> 00:41:35.030 >> You are talking about uh 00:41:35.040 --> 00:41:36.309 brands in general? 00:41:36.319 --> 00:41:39.109 >> Um if you take luxury as as as a whole 00:41:39.119 --> 00:41:41.910 also customers as a whole um will it be 00:41:41.920 --> 00:41:44.470 more empathetic even more in that 00:41:44.480 --> 00:41:46.550 direction that you mentioned? What are 00:41:46.560 --> 00:41:48.470 what are you the big trends that you're 00:41:48.480 --> 00:41:50.390 seeing? I think yes because let's say 00:41:50.400 --> 00:41:51.910 that we have now we have a particular 00:41:51.920 --> 00:41:55.990 moments where demands in general is less 00:41:56.000 --> 00:41:58.230 if you forget about Rolex but in general 00:41:58.240 --> 00:42:01.190 so before was much more easy to sell in 00:42:01.200 --> 00:42:04.069 general now I I'm seeing many brands 00:42:04.079 --> 00:42:06.790 they they used to have maybe more 00:42:06.800 --> 00:42:09.510 request sometimes also waiting list and 00:42:09.520 --> 00:42:14.150 now they are focus more on empathy 00:42:14.160 --> 00:42:16.790 >> I don't want to make to to to do to to 00:42:16.800 --> 00:42:19.109 give you names but you can easily 00:42:19.119 --> 00:42:21.829 understand that we heard that they 00:42:21.839 --> 00:42:24.630 change policy and they are trying to do 00:42:24.640 --> 00:42:27.270 the same like us. Mhm. 00:42:27.280 --> 00:42:30.710 >> It's very nice that um Rolex for example 00:42:30.720 --> 00:42:33.270 in when when they they are still on the 00:42:33.280 --> 00:42:38.790 top but after COVID during 2020 even if 00:42:38.800 --> 00:42:41.430 they they had a crazy demand 00:42:41.440 --> 00:42:43.990 >> they they said 00:42:44.000 --> 00:42:47.109 they they were the first to say 00:42:47.119 --> 00:42:51.030 >> be careful to be kind with customers 00:42:51.040 --> 00:42:53.510 >> because now we are in the top 00:42:53.520 --> 00:42:55.670 >> one day everything can change 00:42:55.680 --> 00:42:57.670 >> so it's very important important to be 00:42:57.680 --> 00:43:01.270 very welcome or to give to offer coffee, 00:43:01.280 --> 00:43:05.750 water, to spend time as we normally used 00:43:05.760 --> 00:43:08.069 to to do it, you know, for us is normal 00:43:08.079 --> 00:43:10.790 but not for everybody. So Rolex they 00:43:10.800 --> 00:43:12.950 they gave the big the big the big 00:43:12.960 --> 00:43:14.470 example 00:43:14.480 --> 00:43:17.510 >> with

this behave also to you know to 00:43:17.520 --> 00:43:19.030 think about about the future because 00:43:19.040 --> 00:43:22.309 it's easy if things are doing well 00:43:22.319 --> 00:43:25.270 if you are not careful you can have a 00:43:25.280 --> 00:43:28.470 toxic behave. So it's very important to 00:43:28.480 --> 00:43:30.550 to see the future if something in 00:43:30.560 --> 00:43:32.870 change. It's very important to be kind 00:43:32.880 --> 00:43:35.430 to be empathic because one day when 00:43:35.440 --> 00:43:37.510 things go bad 00:43:37.520 --> 00:43:40.309 >> customer can remember in the past if you 00:43:40.319 --> 00:43:42.230 were rude or not welcome. 00:43:42.240 --> 00:43:46.790 >> Yeah. So is but it's very very beautiful 00:43:46.800 --> 00:43:50.230 to see brand like Rolex they could 00:43:50.240 --> 00:43:52.710 easily have a different behave 00:43:52.720 --> 00:43:53.510 >> to 00:43:53.520 --> 00:43:55.990 >> that Rolex is the first to do the the 00:43:56.000 --> 00:43:57.430 the best example. 00:43:57.440 --> 00:43:58.550 >> Yeah. you know. Yeah. 00:43:58.560 --> 00:44:00.309 >> And they they were very connected with 00:44:00.319 --> 00:44:02.870 us because for us was a normality to do 00:44:02.880 --> 00:44:03.990 like this 00:44:04.000 --> 00:44:06.710 >> from the beginning to to now. For us is 00:44:06.720 --> 00:44:09.910 our attitude from me that I'm the owner, 00:44:09.920 --> 00:44:12.069 my aunt, my father, but also the first 00:44:12.079 --> 00:44:14.309 and the last of our employees. 00:44:14.319 --> 00:44:16.790 >> Without this attitude, you cannot work 00:44:16.800 --> 00:44:18.230 in our family. Of course. 00:44:18.240 --> 00:44:21.270 >> Yeah. because you know uh is enough to 00:44:21.280 --> 00:44:25.349 have one week ring in the you know in in 00:44:25.359 --> 00:44:28.870 in the in the in the group to destroy 00:44:28.880 --> 00:44:31.190 everything you know so we are lucky 00:44:31.200 --> 00:44:33.270 because we are very happy about our our 00:44:33.280 --> 00:44:34.550 staff 00:44:34.560 --> 00:44:38.069 >> and I can say that uh we we didn't push 00:44:38.079 --> 00:44:41.829 so much because uh we we search people 00:44:41.839 --> 00:44:43.030 like this 00:44:43.040 --> 00:44:45.430 >> because if you don't have this quality 00:44:45.440 --> 00:44:47.190 it's difficult that you 00:44:47.200 --> 00:44:48.870 >> learn this quality So it's very 00:44:48.880 --> 00:44:50.630 important to find right people with the 00:44:50.640 --> 00:44:53.109 right attitude with the right with the 00:44:53.119 --> 00:44:55.829 right empathies 00:44:55.839 --> 00:44:57.430 because otherwise it's something that 00:44:57.440 --> 00:44:58.710 you cannot uh learn. 00:44:58.720 --> 00:45:01.589 >> Yeah. Wonderful. Maybe my last question 00:45:01.599 --> 00:45:04.470 is is there anything we missed so far? 00:45:04.480 --> 00:45:06.950 Anything in the you know what you still 00:45:06.960 --> 00:45:09.510 want to share with with our listeners 00:45:09.520 --> 00:45:11.510 that you think uh is is important for 00:45:11.520 --> 00:45:13.670 them to know? 00:45:13.680 --> 00:45:20.150 >> Uh yeah I 00:45:20.160 --> 00:45:22.950 We we said, did we say about the party 00:45:22.960 --> 00:45:24.950 of the 100 years? Yeah, we said. 00:45:24.960 --> 00:45:31.910 >> Mhm. 00:45:31.920 --> 00:45:33.589 >> I don't I don't think so. 00:45:33.599 --> 00:45:36.950 >> Okay. Wonderful. So, um Lorenzo, how how 00:45:36.960 --> 00:45:39.829 can um how can people that listen to 00:45:39.839 --> 00:45:42.470 this find you? So, um we spoke already 00:45:42.480 --> 00:45:45.270 about Ponte Veio. um tell tell them 00:45:45.280 --> 00:45:47.349 again where the stores are and how they 00:45:47.359 --> 00:45:48.790 can get in touch with you. 00:45:48.800 --> 00:45:52.470 >> I think is the the easiest u uh the 00:45:52.480 --> 00:45:54.950 easiest place to find because uh 00:45:54.960 --> 00:45:57.910 consider also that many people they they 00:45:57.920 --> 00:45:59.990 they don't expect to find us they don't 00:46:00.000 --> 00:46:02.309 expect to find watches at all but they 00:46:02.319 --> 00:46:04.710 don't expect to find 00:46:04.720 --> 00:46:07.670 my little store in the middle of uh the 00:46:07.680 --> 00:46:09.349 one of the most iconic place in the 00:46:09.359 --> 00:46:13.589 world. So most of the time is enough to 00:46:13.599 --> 00:46:16.069 come in Ponte. Ponte you cannot miss 00:46:16.079 --> 00:46:18.710 once you visit Florence. You make a 00:46:18.720 --> 00:46:21.030 picture and then you turn your head on 00:46:21.040 --> 00:46:24.309 the left, you find my store and you you 00:46:24.319 --> 00:46:26.950 just jump in and you find me. I mean you 00:46:26.960 --> 00:46:29.829 cannot miss at all in any ways. You are 00:46:29.839 --> 00:46:32.309 coming through the to the beach. You 00:46:32.319 --> 00:46:34.630 will find the big crown and we are in 00:46:34.640 --> 00:46:36.870 the middle. Of course you can find me 00:46:36.880 --> 00:46:40.230 through the Rolic website. the Google 00:46:40.240 --> 00:46:43.270 map, etc., etc. But the easiest way is 00:46:43.280 --> 00:46:46.950 just to find in Ponteo, and we are in 00:46:46.960 --> 00:46:49.670 the middle with a new uh renovated 00:46:49.680 --> 00:46:50.309 boutique. 00:46:50.319 --> 00:46:51.190 >> Mhm. 00:46:51.200 --> 00:46:53.829 >> And the most uh the smallest boutique in 00:46:53.839 --> 00:46:55.750 the world, but 00:46:55.760 --> 00:47:01.589 as uh uh old Rolex um CEO 00:47:01.599 --> 00:47:03.510 and uh the most important director say, 00:47:03.520 --> 00:47:05.910 the most beautiful and unique boutique 00:47:05.920 --> 00:47:06.710 in the world. 00:47:06.720 --> 00:47:08.470 >> Wonderful. Thank you so much. And I can 00:47:08.480 --> 00:47:10.790 just uh I can just confirm this. It's a 00:47:10.800 --> 00:47:12.630 it's a wonderful store. It's one is of 00:47:12.640 --> 00:47:14.069 course you know you cannot beat 00:47:14.079 --> 00:47:16.870 Florence. Um a wonderful wonderful 00:47:16.880 --> 00:47:18.790 place. So thank you so much for the time 00:47:18.800 --> 00:47:20.550 today for the opportunity to speak to 00:47:20.560 --> 00:47:22.790 you and to experience this myself. 00:47:22.800 --> 00:47:25.589 >> Thank you very much. 00:47:25.599 --> 00:47:30.069 >> Thank you. 00:47:30.079 --> 00:47:32.550 >> If this changed how you think, share it 00:47:32.560 --> 00:47:34.550 with someone who needs to hear it. 00:47:34.560 --> 00:47:36.710 Bookmark this show. New episodes 00:47:36.720 --> 00:47:39.430 regularly. The future of luxury with Dr. 00:47:39.440 --> 00:47:44.710 Daniel Langanger. 00:47:44.720 --> 00:47:49.480 Relax. Breathe easy.