Laurent Dordet has been with Hermès for 29 years, having started in finance before transitioning into silk and textiles, followed by exotic leather, tanneries and leather bags. Describing himself as having had ‘five different lives’ within the company, he has been at the helm of Hermès’ watchmaking department as the CEO of Hermès Horloger since 2015. During our visit to Hermès’ manufacture and workshop, we sat down with him to discuss his hopes, dreams, and expertise on all things Hermès Horloger.
What does a mechanical watch mean to you personally and what are you wearing today?
For me, mechanical watches are fascinating; it’s the fascination with micro mechanics. A mechanical watch is a true artifact, a wonderful example of human ingenuity. What amazes me is how these complex machines were created centuries ago, with far fewer tools than we have today. It’s like a little engine working perfectly, with such intricate details. It’s truly magical, both from a technical standpoint and because it’s something made by human hands. As for what I’m wearing today, it’s a green Hermès H08 model introduced last year, made with a fiberglass composite. We love to experiment with colours, and green has become one of our signature tones across various product categories.
With Hermès being involved in so many different categories, how do watches fit into the overall Hermès portfolio?
That’s a good question. At the very top of the watch industry, you find mainly ‘pure’ players. There are only a handful of brands that manage to be involved in multiple categories, and we’re one of the few. The question we often ask is, why did Hermès decide to enter the watch market? Well, there’s always been a natural connection between Hermès and watches. From the 1920s to the 1960s, we worked with small Swiss watchmakers. In 1978, we decided to settle down with our watch manufacture in Switzerland and started to make watches ourselves.
What makes Hermès unique is that we approach every category with the same philosophy. Whether it’s leather, silk, or watches, we’re focused on mastering the technique at the highest level of quality, and then using that expertise to bring creativity into the equation. As Jean-Louis Dumas, the former head of Hermès, said when we created the watch entity: “Be on par with the best in terms of technical quality, but in everything else, be different.”
That’s a great philosophy. But I imagine you’ve had to overcome the perception of being labelled as ‘just a fashion watch’ brand. How have you dealt with that?
Yes, the term ‘fashion watches’ has been a bit of a challenge for us. Our journey with mechanical watches started back in 2012, which means we’ve only been making them seriously for a little over a decade. For a long time, people didn’t associate Hermès with serious watchmaking. We had to prove ourselves, year after year, with each new product. We’re still not as well-known in the watch world as we’d like to be, but we continue to prove ourselves through the quality and craftsmanship of our watches. Winning the Grand Prix de l’Horlogerie de Genève certainly helped boost our profile in the watchmaking community.
What about your customers? Do you see a blend of those who enjoy the playful, fashionable side of Hermès and more serious collectors?
Yes, we cater to both types of customers. Our primary base is, of course, our loyal Hermès clientele. Many watch enthusiasts are already Hermès fans, so it’s a natural fit for them. And we’ve also started attracting serious collectors, particularly with pieces like the Arceau L’Heure de la lune, which stands out for its innovative design and complications. I remember when we launched that watch in 2019; the excitement was palpable. People were placing deposits even before it had been seen in stores.
Incredible. Your watch sales have actually grown hugely in recent years. What do you think has driven this growth?
Well, let’s acknowledge that there was a slight dip of about 4 percent in our recent figures, but overall, our watch division has seen tremendous growth. We’ve climbed in the rankings of the top 50 brands, moving from 16th to 13th place. The key to this success is maintaining the fundamentals: quality, reliability, and precision. We don’t rush to launch new products. We take our time and, when we do release something, we make sure it’s done properly.
You’ve focused a lot on mechanical watches, but what about quartz – how do you plan to create a balance between the two?
Our main focus remains on mechanical watches. While quartz used to be a more significant part of the business, mechanical watches now account for around 40 percent of our sales, with quartz making up the remaining 60 percent. Over the past decade, we’ve seen a steady shift towards mechanical pieces, and we’re very pleased with this progress.
I also understand that around 80 percent of Hermés’ overall portfolio is targeted at women. What led you to introduce watches for men, like the Hermès H08 and the Arceau models?
Hermès has always catered to both men and women. In fact, our first customers were the people with horse-drawn carriages, and they were mostly men. Over time, we’ve expanded to offer products for both genders. Our watches for men, like the Hermès H08 and Arceau, were designed to bring a sportier, or more chic edge to the market. Hermés has always embodied a relaxed, sport-chic ethos, and we wanted to create watches that men and women could wear throughout their lives, including during sports activities.
We’ve been marvelling at the leather marquetry and mosaic dials in your Métiers d’Art watches. Do you see this field as a key direction for Hermès?
Absolutely. We’re not interested in producing watches purely for scarcity’s sake, but we do create unique pieces in niche segments. We frequently release small series, limited editions, or even one-off pieces. Our goal is not to focus on quantity, but rather on creativity and technique. We encourage our team and external partners to constantly innovate and push the boundaries of craftsmanship, particularly when it comes to artistic pieces like marquetry and mosaic dials.
Fascinating! How many different techniques are there for these special pieces?
We employ between 10 and 20 different techniques for these special creations. We work closely with both internal staff and external artisans, many of whom also collaborate with other prestigious brands. It’s always a great challenge for our team to bring these talented craftsmen into our fold. What makes it even more exciting is that our designs are playful and lighthearted, which makes our projects especially appealing to the craftsmen. They enjoy the opportunity to be part of our creative process.
During our trip, I’ve learned that Hermès is expanding its production facilities. Can you tell us more about that?
Yes, we’ve been experiencing such growth that our current facilities are struggling to keep up. As you saw in the workshop, we’ve had to add more people and machinery over the years, so it’s become a bit cramped. We’ve been renting additional spaces, and some of our technical teams are based outside the main production area. The expansion plans will bring all our people back under one roof, which will increase efficiency and allow us to maintain the high standards we’ve set for ourselves.
We also heard about Hermès integrating more sustainability initiatives, like using solar panels to power machines along with the manufacture extension.
Yes, absolutely. As a company, we’ve been very proactive in this area. While not directly linked to our main projects, we do take every opportunity to improve our environmental footprint. For example, we’ve recently refurbished the roof of one of our buildings, and it’s now fully equipped with solar panels. Not only does this make the building more insulated, but it also allows us to generate more sustainable energy. It’s not necessarily profitable, but it’s the right thing to do, and we continue to invest heavily in recycled materials as part of our commitment to sustainability.
That’s impressive. You also mentioned yesterday that sustainability will become more of a focus in the future, which is very timely, considering that many consumers are increasingly seeking out brands with a more sustainable outlook. Would you say this is becoming a significant part of your strategy?
Yes, sustainability has always been part of our DNA. It’s not a recent focus, but it’s certainly something that has grown over the years. We aim to make sure we are part of the solution, not the problem. Our craftsmanship has always been central to what we do, and even though the production of some of our products does have an environmental cost, we make sure to minimise that impact where possible. Nearly all of our objects are made with recyclable, sometimes upcycled, or recycled materials, and we’re continuously working on improving this. We’ve set long-term scientific objectives to ensure that we stay on track with our sustainability goals, and we’re working to meet them in a meaningful way, in line with the Paris Agreement. We apply these goals across our entire group, including in our watchmaking division.
It’s interesting to see that Hermès retains a kind of family-run ethos, even as the company grows. Do you feel this philosophy extends into the watchmaking division, and do you see it reflected in the daily workings of the team?
Absolutely. Hermés has always been a family-owned business, and it’s still around 70 percent family-owned after nearly 200 years, across six generations. That kind of ownership gives us a long-term perspective, which is essential in the watchmaking industry. I’ve been with the company for almost 30 years now, and I can say the philosophy hasn’t changed at all. We’ve grown significantly, but we’ve maintained that family-driven atmosphere, which is one of the reasons why people tend to stay with us for so long. It’s a respectful environment, and we foster autonomy and initiative. I’m not directly responsible for the happiness of my team, but I do create the conditions for them to be happy in their work. The core values have always remained the same: craftsmanship, quality, and creativity. Those are the pillars that hold us together as a company.
So, would you say that this family atmosphere is key to the success of the company, and something that customers can feel when they interact with your products?
Yes, it absolutely plays a role in the success of the brand. Our focus has always been on quality, and that comes from the people who create the products. Hermès has a strong, collective sense of purpose. Everyone in the company is focused on this larger mission, which is bigger than any of us individually. And, when the time comes for us to hand over the baton, we want to ensure that we leave the company in an even better state than when we received it.
That’s a very inspiring perspective. Now, a different topic with regards to pricing: I noticed that your competitors sit at a higher price point. How does Hermès view pricing within the watchmaking sector? Do you see accessibility as an important part of your strategy?
We aim to ensure that our watches represent fair value, which Pierre-Alexis Dumas, our artistic director, has explained by saying, ‘Hermès is not expensive; it is costly.’ Costly reflects the effort we put into craftsmanship and the quality of the materials, and that is reflected in the price. We don’t want to overprice our products; we want to offer something of value, where the cost of production is justified by the quality and expertise that goes into each piece. That’s the key to how we approach pricing. Of course, there is a range of products, from more affordable quartz models to the more exclusive, high-end watches. We believe that we can offer quality at every price point, and we’re particularly proud of our entry-level products, which offer Hermès quality at a more accessible price.
Interesting. I was also curious when thinking about recent moves within the industry, like Chanel’s acquisition of a stake in MB&F: do you see Hermès potentially expanding its portfolio in this way, by taking stakes in independent watchmakers to broaden your knowledge and expertise?
Never say never, but it’s not part of our strategy at the moment. We’ve been approached in the past about taking stakes in other brands, but we’ve always been more focused on expanding our industrial partnerships. We do have stakes in some of our industrial partners – but for now, we’re not looking to expand our portfolio by acquiring other watch brands.
So, it’s more about strengthening your own capabilities and know-how?
Exactly. It’s about expanding our technical and industrial expertise by working closely with partners, whether we have stakes in those companies or not. We maintain control over the design and conception processes, and we work with external partners to expand our capabilities. This approach allows us to be more innovative and flexible, and it gives us the technical expertise we need to develop our products to the highest standards. But in terms of brands, we’re not looking to acquire others at the moment.
Moving forward, what are your personal hopes for the Hermès watchmaking division?
When I first joined, our main dream was to position Hermès as a recognised watchmaker, alongside other prestigious names in the industry. Fifteen years ago, many people didn’t even consider us for watches, seeing us more as a fashion brand. While we’re closer to that recognition now, we’re still not where we want to be. It’s a long-term journey, but I believe we’re on the right track. It may take 30 years, like it did with our silk business, but we will get there. Our goal is to be recognised not just for the quality and craftsmanship of our watches, but also for the unique concepts we bring to the table. We may never be the biggest player in the industry, but we aim to be one of the most respected.
“We may never be the biggest player in the industry, but we aim to be one of the most respected.”
– Laurent Dordet, CEO of Hermès Horloger
How would you describe a typical Hermès watch customer?
We have a wide range of customers. Many of them are collectors who appreciate the craftsmanship and technical aspects of our watches. We also have many clients who simply want a stylish, high-quality timepiece. We often meet with these collectors in private appointments, and one of the things they appreciate most is that we remain humble. We don’t claim to be the best in the world, we do pride ourselves on offering watches that are of exceptional quality. Our customers recognise that, and many of them come away from those meetings with a renewed appreciation for what we do. It’s not about selling a watch as much as it is about educating customers on the value of craftsmanship and quality.
It’s clear that education is an important part of your sales strategy.
Absolutely. Educating our customers is essential, especially given the technical nature of watchmaking. Our salespeople are key to this process, and we invest heavily in their training to ensure they have the knowledge they need to explain the complexities of our products. It’s a challenge, but we’re making progress and improving every year.
Which markets are strongest for Hermès watches?
Our strongest markets are China, the United States, Japan, France, Korea, and the Middle East. These regions continue to be key for our business, and we’re seeing strong growth in each of them.
Lastly, what direction do you think the watchmaking industry is heading in?
I’m a bit concerned about the increasing polarisation in the industry. It’s becoming clear that there fewer and fewer make it, but those that succeed are doing exceptionally well. The top few brands are growing significantly, while many others are struggling. There are emerging brands that are gaining attention because they offer something fresh and different, and I hope Hermès can be part of this successful growing group. We aim to offer innovation and creativity within an industry that is becoming more competitive, and we’ll need to continue evolving to stay ahead.
