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Product cover image for Navigating Change and Innovation: A Case Study of Parmigiani Fleurier's Resurgence in the Luxury Swiss Watch Market

Navigating Change and Innovation: A Case Study of Parmigiani Fleurier's Resurgence in the Luxury Swiss Watch Market

Ken Kwong-Kay Wong

Product #:W41549
Supplier:Ivey
Discipline:Entrepreneurship, Marketing
Setting:Switzerland, 2021
Details:Case (PDF) • 18 pages • 2025-03-06

Subjects:

TurnaroundsSales and marketingEntrepreneurshipMarketing

Industries:

Fabrication and manufacturing

Geography:

SwitzerlandEurope
Your Price:$9.71

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Independent luxury watchmaker Parmigiani Fleurier, founded in 1996 by master restorer Michel Parmigiani, was renowned for its craftsmanship, producing over 90 per cent of its watch components in house. Under the leadership of CEO Guido Terreni since 2021, the brand had focused on the Tonda PF collection and revived the Toric line, achieving profitability by 2023 with a fivefold increase in sales. However, the brand faced challenges amid a shifting Swiss watch market. In 2024, Swiss watch exports declined, raising concerns about the company’s future growth. As the luxury watch market continued to evolve, Parmigiani Fleurier had to contend with uncertainties surrounding customer preferences, its dependence on the Tonda PF line, and its position as a niche player.

Learning Objectives

This case study is suitable for various business courses—including marketing, brand management, and entrepreneurship—at the diploma, undergraduate, and graduate levels. After studying the case, introductory marketing or marketing strategy students should be able to do the following:
  • Describe the characteristics of the Swiss luxury watch market.
  • Distinguish between the different types of luxury watch buyers.
  • Articulate the unique selling points of Parmigiani Fleurier in comparison to other Swiss luxury watch brands.
  • Critique the 4Ps (product, price, promotion, and place) of Parmigiani Fleurier’s marketing strategy.
After studying the case, brand management students should be able to do the following:
  • Create a positioning map for the various brands in the luxury Swiss watch industry.
  • Analyze brand positioning and strategy by examining Parmigiani Fleurier’s brand elements, target customers, unique selling propositions, and competitive landscape.
  • Evaluate the factors that lead to brand resilience and assess the viability of the Parmigiani Fleurier brand given recent micro and macro events.
  • Formulate actionable recommendations to enhance the brand’s market position.
After studying the case, entrepreneurship students should be able to do the following:
  • Describe the characteristics of a company founder and how this person’s education and professional background can shape their desire to establish a company.
  • Identify ways in which a new start-up business can be funded in the early stages.
  • Appreciate the importance of steering the company in the right direction by changing the leadership at critical moments to keep the company afloat.
  • Understand how a CEO can foster a culture of innovation, proactiveness, and competitive aggressiveness within the company.
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Case Study: Navigating Change and Innovation: A Case Study of Parmigiani Fleurier's Resurgence in the Luxury Swiss Watch Market (English version) | Ivey Publishing