Minerva and Montblanc: Technical Innovation and Branding in the Swiss Luxury Watch Industry

Description

Minerva and Montblanc: Technical Innovation and Branding in the Swiss Luxury Watch Industry: Abstract

The Minerva brand joined the Montblanc portfolio when the Richemont Group bought it in the fall of 2006. In the integration process, it had to retain its authenticity, know-how, and appeal to watch collectors worldwide. As part of Montblanc, Minerva operated within constraints that limited its ability to explore new audience-expansion avenues among luxury watch enthusiasts. The Richemont Holding prioritized Montblanc’s less expensive watches in its digital communication budget, forcing Minerva to find creative ways to reach customers. However, these limitations did not hinder its progress; Minerva’s commitment to nurturing close client relationships was instrumental in shaping its distinctive identity. From 2021, when Laurent Lecamp joined the group as global managing director of the Montblanc Watch Division, Minerva experienced notable growth. Yet, the question remained: Could Minerva maintain its hallmark of personalized service as it continued to evolve in the competitive luxury watch market? Or would its growth dilute its personalized touch, jeopardizing the very essence that had propelled its recent success?

Teaching objectives

By the end of this case, students will have

• evaluated the strategies Laurent Lecamp used to successfully revive the Minerva brand;
• discovered Laurent’s approach to luxury brand storytelling and the key ingredients for successful storytelling;
• deciphered the role of authenticity in brand storytelling, particularly how consumers respond to markers of authenticity and allow themselves to be captivated by and believe brand stories;
• analyzed the role of leadership and organizational culture in Minerva’s branding;
• become familiar with a niche player’s challenge in a competitive market;
• explored the significance of customer-centric branding, including delivering exceptional customer experiences, building strong relationships with customers, and creating a sense of exclusivity and community around the brand.

Additional information

Teachers’ notes are available for university teachers only. Please contact the HEC Montréal Case Centre.