At the 2022 Watches & Wonders Geneva Haute Horlogerie Exhibition, Swiss jewelry and watch brand PIAGET, under the Richemont Group, unveiled three new timepieces.
At the same time, the brand’s newly appointed CEO, Benjamin Comar, made his first public appearance before the global media. Taking this opportunity, Luxe.CO had the privilege of conducting an exclusive interview with this seasoned industry veteran.
What is PIAGET in Benjamin Comar’s eyes after more than ten months in office? What plans does he have for the brand’s future? This article will explore these questions from four key perspectives:
- “The cultural heritage of watchmaking and jewelry is the foundation of the brand’s DNA.”
- “Our jewelry business has entered the global top ten.”
- How to skillfully connect watches and jewelry?
- “Priority will be given to expansion in second-tier cities in China.”
Above: The new PIAGET Altiplano Ultimate Concept Tribute watch. In November 2020, the Altiplano Ultimate Concept series won the prestigious “Aiguille d’Or” Grand Prix at the 20th Grand Prix d’Horlogerie de Genève.
“The cultural heritage of watchmaking and jewelry is the foundation of PIAGET’s DNA.”
For Benjamin Comar, joining PIAGET marks a return to the Richemont Group after 18 years. At the start of his career, he spent 12 years as Marketing Director at Cartier, another jewelry brand under Richemont. He later joined French luxury brand Chanel as International Director of its Jewelry division.
From March 2017 to November 2020, Benjamin Comar served as CEO of Italian high jewelry brand Repossi. In May 2019, luxury conglomerate LVMH increased its stake in Repossi to 69%, becoming its largest shareholder.
On June 1, 2021, Benjamin Comar officially assumed the role of CEO at PIAGET.
Luxe.CO: How has your previous work experience helped you lead PIAGET?
Benjamin Comar: My background has greatly helped me in managing and motivating teams. My experiences at different brands have allowed me to observe and understand the market, enabling me to accurately analyze each brand’s unique positioning. Every brand has its own personality—you cannot apply the same strategy to different brands.
Luxe.CO: Since taking office last June, how would you define PIAGET today?
Benjamin Comar: PIAGET is an extraordinary company with a remarkable heritage. My team and I coined a new term, Extra-leganza (elegance with a free spirit), to define PIAGET. This distinctive trait stems from the brand’s dual cultural heritage in watchmaking and jewelry, which form the foundation of PIAGET’s DNA.
First, watchmaking tradition and craftsmanship are PIAGET’s primary heritage. In 1874, Georges-Édouard Piaget established the brand’s first watchmaking workshop in La Côte-aux-Fées, in the Jura Mountains of Switzerland. From the outset, PIAGET was dedicated to manufacturing movements for watch brands. As a supplier, you must create the finest movements to stand out—only then can you develop the most elegant watches in-house.
The second heritage comes from Geneva’s jewelry culture. After World War II, the brand moved from the Jura Mountains to Geneva, opening its first boutique there in 1959, where it showcased its first jewelry pieces. This expansion later led to the launch of iconic jewelry watches such as the Limelight Gala.
Luxe.CO: Could you describe PIAGET in a few keywords?
Benjamin Comar: Extra-leganza (elegance with a free spirit), elegance, shared joy, and togetherness.
“Our Jewelry Business Has Entered the Global Top Ten”
PIAGET was acquired by the Richemont Group in 1988 and is part of the group’s specialist watchmaking division. It is the only brand within the division that operates in both the watch and jewelry segments. While Richemont has not disclosed PIAGET’s individual sales figures, investment bank Morgan Stanley estimated that PIAGET’s total sales for the fiscal year ending March 31, 2022, were approximately 480 million Swiss francs.
Luxe.CO: In your view, why did PIAGET, originally a watchmaker, expand into the jewelry business?
Benjamin Comar: I once asked Mr. Yves Piaget (the fourth-generation heir of the Piaget family) this very question—why did the brand decide to move to Geneva? To be honest, Geneva in the 1950s was not the most glamorous place in the world.
At the time, Yves Piaget answered me, “We wanted to do something different from other watch brands. We knew that clients also wanted something different—they wanted refinement and splendor. That’s why we introduced jewelry.”
Luxe.CO: Currently, what is the revenue split between PIAGET’s jewelry and watch businesses?
Benjamin Comar: Jewelry and watches each account for half of the brand’s total sales—it’s like having two equally strong legs.
Luxe.CO: Do you plan to strengthen PIAGET’s jewelry business?
Benjamin Comar: Absolutely. We have continuously reinforced our jewelry business, and we will continue to do so by expanding our jewelry collections to reach a broader audience.
Our jewelry business has already entered the global top ten, which gives us every reason to invest in it. However, we will never neglect our watch business. Our goal is to enhance both aspects simultaneously.
Above: PIAGET Extraordinary Lights collection—Glowing Lanterns high jewelry ring and Celestial Ballet high jewelry ring.
How to Skillfully Connect Watches and Jewelry?
During the interview, Benjamin Comar introduced PIAGET’s latest Limelight Gala high jewelry watches, unveiled at this year’s Watches & Wonders Geneva exhibition.
The new Limelight Gala high jewelry watch features an 18K white gold case, set with more than 250 brilliant-cut, baguette-cut, and marquise-cut gemstones. Each timepiece requires 175 hours of meticulous craftsmanship to complete. Notably, all of PIAGET’s high jewelry setting work is carried out in the brand’s Atelier de l’Extraordinaire (Workshop of the Extraordinary).
Above: The newly launched Limelight Gala high jewelry watch and the Limelight Gala Precious watch.
Currently, PIAGET operates two Atelier de l’Extraordinaire workshops. One is the La Côte-aux-Fées Workshop, which has been in operation since the brand’s founding and focuses on movement development and manufacturing. As stated on PIAGET’s official website, “PIAGET is one of the few brands capable of designing, developing, and producing its own movements.” The other is the Plan-les-Ouates Gold and Jewelry Workshop, established in 2001 on the outskirts of Geneva. This facility specializes in jewelry craftsmanship, where artisans use techniques such as polishing, satin finishing, burnishing, sandblasting, and engraving to seamlessly integrate jewelry into PIAGET’s timepieces.
Luxe.CO: What qualities are essential for a brand to merge jewelry and watch design successfully?
Benjamin Comar: We have always strived to view jewelry and watches through the same lens. The Limelight Gala collection, born 50 years ago, is a true and ultimate expression of these two magnificent worlds. Our creative team and artisans continuously push boundaries to create exquisite jewelry watches.
PIAGET’s jewelry watches are elegant, refined, and delightful. To achieve this, high quality and distinctive design are essential. A brand must bring together creativity, watchmaking expertise, and jewelry-setting craftsmanship—otherwise, it is impossible to create a truly remarkable piece.
Luxe.CO: What is the connection between PIAGET’s watch and jewelry product lines?
Benjamin Comar: Although watches and jewelry are two distinct product lines, we need to build a bridge between them.
For PIAGET, I believe this is relatively easy to achieve. On one hand, we can integrate design elements from both categories. On the other hand, PIAGET possesses expertise spanning watchmaking, jewelry, and high jewelry. Our teams across different business segments can engage in mutual exchange and inspiration, fostering a deeper understanding between the two disciplines.
Next Step: “PIAGET Will Prioritize Expansion in Second-Tier Cities in China”
Since entering the Chinese market in 2002, PIAGET has continuously deepened its omnichannel strategy. Offline, the brand currently operates 19 directly owned boutiques in China, along with 24 authorized dealer stores and 18 TIME VALLEE multi-brand watch boutiques. Online, PIAGET has actively embraced China’s digital landscape, launching its Tmall flagship store, WeChat official account, and WeChat boutique store.
In August 2020, PIAGET partnered with livestreaming host Austin Li (Li Jiaqi) for a one-hour live broadcast on both Tmall Live and Austin Li’s livestreaming channel (see image below), becoming the first top-tier hard luxury brand to conduct an online livestreaming event. At the time, Luxe.CO conducted an exclusive interview with Mathieu Delmas, CEO of PIAGET China, who shared insights into the brand’s strategic thinking on luxury marketing, products, and distribution channels behind the livestream.
Beyond embracing digital channels, PIAGET is also expanding its influence in China through long-term sponsorship of the Shanghai International Film Festival and collaborations with Chinese designers. Benjamin Comar believes that these initiatives are helping the brand develop a deeper understanding of Chinese culture.
In June 2021, PIAGET partnered with the Shanghai International Film Festival to launch the “Young Filmmakers Education Support Program,” which includes initiatives such as the “Extraordinary Masterclass” and scholarship awards to honor outstanding behind-the-scenes film professionals. According to the brand, this year will mark the third consecutive year of PIAGET’s collaboration with the festival.
Benjamin Comar stated that in the future, brand communication will also be one of his key focus areas.
During this year’s Watches & Wonders Geneva exhibition, in addition to its offline showcase, PIAGET also livestreamed the event in China through its official website, Tmall, and WeChat platforms, allowing audiences to experience the exhibition digitally. “Over the past week, we have done a lot of product and brand communication, and I hope this conveys the brand’s values,” said Comar.
Luxe.CO: In today’s digital age, do physical watch exhibitions still attract significant attention?
Benjamin Comar: Before the exhibition began, I asked myself whether a physical event could still spark interest. But on-site, my colleagues and I felt the enthusiasm from both media and customers—people were genuinely excited to reconnect in person. This reaffirmed my belief that physical exhibitions remain essential.
Luxe.CO: What role does the Chinese market play in PIAGET’s global strategy?
Benjamin Comar: China is our largest market, and we are honored that Chinese consumers recognize and appreciate PIAGET’s jewelry collections.
The Chinese market is incredibly dynamic. China has a strong tradition of both jewelry craftsmanship and consumption, which has led to increased awareness and appreciation of jewelry brands—this is highly beneficial for a brand like ours.
Luxe.CO: Who are PIAGET’s primary customers in China? Have consumer demographics changed after the pandemic?
Benjamin Comar: In China, our male and female customer base is evenly split, with an average age between 25 and 35 years old—significantly younger than in other global markets.
Our customer demographics have remained stable. The most noticeable change post-pandemic is that consumers are traveling less, so we have strengthened connections with them through local boutiques. As a result, our relationship with customers has become even closer.
I believe our engagement with customers is improving—they are becoming true brand ambassadors, which means we have the opportunity to create an exceptional retail experience.
Luxe.CO: In your view, how have women’s watch-buying behaviors and preferences evolved in recent years?
Benjamin Comar: Traditionally, watches were often purchased by men as gifts for women. However, more and more women today are buying watches for themselves—at any time they choose—to reward themselves or express their personality.
Luxe.CO: How will PIAGET expand its retail network in China? Are there plans to open stores in second- and third-tier cities?
Benjamin Comar: We will continue to expand into new cities in China, but we do not aim for overly broad distribution. Instead, we prefer to establish a well-structured retail network based on our customer base.
PIAGET has developed very well in first-tier cities. Next, we will prioritize expansion in second-tier cities, and after that, we will assess opportunities in third-tier cities. We have plenty of time to take a measured approach, which is important.
Luxe.CO: What is your view on hard luxury brands shifting towards online business?
Benjamin Comar: I see online channels as a complement to retail, not a replacement. What I love most about e-commerce is the freedom it offers—you can buy anything you want from your kitchen at 2 AM, or book an in-store appointment online. In short, digitalization provides customers with greater freedom, and the customer is king—that’s what matters most.
Luxe.CO: What are PIAGET’s plans for digitalization?
Benjamin Comar: Our business on Tmall Luxury Pavilion has been performing very well. Additionally, we have developed a strong partnership with Tmall Live, where our livestreaming events have received excellent feedback. Beyond Tmall, PIAGET also has its own official website, and we are exploring ways to further enhance its capabilities to reach a wider audience.
In the future, we will continue to enhance the online shopping experience, diversify communication channels, and provide consumers with more flexible, convenient, and interactive services.
| Image Credit: Provided by the brand
| Editor: Zhu Ruoyu
