When times get tough, Hublot CEO Jean-Claude Biver says spending is key.
Hublot exports 40 percent of its products to China. And with China’s GDP numbers out Friday morning indicating economic growth falling to 7.6 percent, the slowest pace in three years, the luxury time-piece company has a lot to think about.
However, the company, which sells watches with price tags ranging from a couple thousand dollars to couple million, says it has a plan.
“There is only one way to catch up, that is to make more noise than others, to make more noise, you need more investments,” Biver told CNBC.
The more uncertainty there is, the less you see the future, he added. That means investing more in research and development.
“The research and development is the only way to master the future. When there is no innovation, there is no future," he said. "When the future is not clear, you must invest in innovation. The more you innovate, the more the future will be your friend.”
Hublot currently holds a patent ‘Magic Gold’, a scratch-resistant gold used in its watches. The company continues to look for new ways to innovate, separating itself from its competitors.Page 1 of 3 | Next Page