Bulova Accutron debuts Sir Richard Branson watch
by jacquie_dealmeida | December 5, 2011 9:00 am
That’s why when Bulova Accutron invited him to collaborate on a new limited-edition watch, he made sure it included a 24-hour GMT second time zone feature on the dial. Fresh off a flight from Milan and preparing for another to Shanghai, Branson made a stop at New York City’s Lincoln Center restaurant for the official unveiling of the watch. The swanky event entitled ‘Symphony of Innovation Through the Ages’ brought together media and Bulova Accutron clients and distributors from around the world. Branson is the brand’s official ambassador.
“As committed as we are to maintaining the innovation of this company and to keeping alive the imagination that has guided it over the years, we are equally committed to establishing our Bulova Accutron brand as a force within the Swiss-made arena,” said Bulova Corp. president Dennis W. Perry.
“At the same time, we want to have a name and a relationship that helps guide the marketing and commercialization of Bulova Accutron as we go forward,” he said, referring to the entrepreneur, humanitarian, and Virgin Group chair.
“Sir Richard is an individual who has built an empire”¦ but has genuinely taken the successes he’s enjoyed and given back to the community that is in greater need.”
The British billionaire is donating proceeds from his work as brand ambassador to Virgin Unite, Virgin Group’s non-profit foundation, which uses business as a force for good in addressing social and environmental problems around the world. For its part, Bulova is also donating a portion of the proceeds of the sale of the watch to the charity. The limited-edition watch will be available in fall 2012. Five hundred will be made, each bearing Branson’s inscription on the back and with a projected retail price of $3500 US.
A shared vision of innovation brought Branson and Bulova together, Perry noted, referring to the company’s founder, Joseph Bulova, as did their reputations as businessmen. When asked what his secret is for taking a team from ‘good’ to ‘great,’ Branson said it all comes down to appreciating employees’ efforts and celebrating their accomplishments.
“Lavish praise on them,” he said. “Very rarely should you criticize people. If the boss criticizes somebody, it can really undermine their confidence. If you praise them, you’ll find they’ll flourish. If somebody does wrong, they know they’ve done wrong and you don’t have to tell them. Give them every chance to prove themselves to you and to succeed.”
The Bulova event came about a month following the news Swiss watch manufacturers were raising prices to compensate for a stronger Swiss franc, which has gained about 25 per cent since the beginning of the year.
Stephen Taylor, president of Bulova Watch Company, said there were no plans in the short-term to raise prices in Canada, given the strength of the Canadian dollar relative to most currencies.
“On a global basis, the cost of components is going up, so we’re artificially insulated against that because of the value of the Canadian dollar,” he explained.
“Countries that don’t have the luxury of a currency that is appreciating are clearly going to make price increases.”
With Canadian consumers looking at a nearly 20 per cent price difference between products bought in Canada and those in the United States, Taylor says the artificial insulation created by the strong dollar levels out the playing field to a certain extent.
“At least in the short term, Canadian consumers are finally going to get a break,” he added.
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