The luxury Swiss watch brand Maurice Lacroix was founded in 1975 and has its headquarters in La Chaux-de-Fonds.
It is famous for fashion watches, with high quality movements and elegant design.
The Maurice Lacroix Masterpiece timepieces are luxury watches combining the highest level of watchmaking heritage with a h2, modern design.
These beautiful mens and women’s watches were re-launched in October 2009 as part of an overall image renewal strategy by high-end Swiss watchmaker Maurice Lacroix.
In short, these classic but contemporary timepieces embody all that is expected from any luxury item designed under the watchmaking expertise of a brand such as Maurice Lacroix: exceptional quality, superb craftsmanship, and impeccable attention to detail.
All crafted around original movements manufactured entirely in-house at its various workshops using both traditional and state-of-the-art techniques honed over two centuries of watchmaking experience.
The Maurice Lacroix Masterpiece timepieces are available in a choice of stainless steel or 18-carat red gold cases, with matching bracelets and straps finished by hand with refined leathers, alligator skin, or soft calfskin.
There is also an extensive range of ladies’ watches using precious stones such as diamonds and rubies.
With its unrivaled heritage in watchmaking, Maurice Lacroix has always made it a priority to rely on its own resources when it comes to the design of new creations, only borrowing from previous models where necessary.
The Masterpiece timepieces are no exception: they embody a youthful blend between diversity (a range of 4 sizes) and continuity (an integrated anti-shock device).
Brand identity and marketing strategy
Their brand is underlined by an innovative spirit and modernity that have made them famous worldwide, combining tradition and creation: Swiss Made quality at accessible prices.
The name Maurice Lacroix evokes both precision techniques (calibers) and creativity (design).
Large publicity campaigns before the launch of new collections are not part of the marketing strategy.
Instead, the brand relies on its own in-house marketing strategy based on direct selling and high relationships with clients.
Technology and Innovation
The Maurice Lacroix movement collection stands out for its features that support precision timekeeping.
The ML 110 A is a manual wound mechanical movement with automatic winding.
This model has been developed by an in-house team of engineers who took inspiration from their expertise at ETA SA.
They modified some elements like the barrel and balance wheel to obtain a chronometer level watch (COSC) at an affordable price.
It was achieved through materials research, improvements in machining processes as well as assembly and adjustment techniques that require more than six times the amount of operations compared to classical Swiss movements.
The Maurice Lacroix watch collection is directed towards demanding customers who do not hesitate to try a new and innovative approach in the world of timepieces; they are looking for a high-end product at an affordable price.
To facilitate their work, the brand has developed many unique technical solutions that improve the accuracy and precision of watches, enabling them to offer more than just an appealing design.
Maurice Lacroix has applied its know-how on all of its collections, using mainly the Chronorock technology, which consists in preventing any dangers related to winding or rewinding mechanisms when adjusting or servicing a watch by totally stopping it.
The ML 110 A movement is accurate to within 1 second per day with power reserve up to 38 hours.
For the connoisseur, this represents an opportunity to invest in a watch with an extremely high level of precision that will last through generations.
Research and development
The R&D department at Maurice Lacroix is committed to product innovation by focusing on the design, functionality, and aesthetics of its products.
They also have access to an improved manufacturing process that ensures top quality standards.
According to brand representatives, they already regarded themselves as a modern brand when compared with competitors 20 years ago because they were using wireless technology in their watches long before it became fashionable.
This view is justified thanks to cutting-edge projects like Bi-axial Tourbillon or recent developments such as the Cintree watch (manufactured entirely from carbon fiber).
These models are made for connoisseurs of exclusivity who do not hesitate to wear something different.
The ML Collection includes models equipped with a chronograph that offers a real challenge to the traditional rules of watchmaking, while the O-clock model is designed for everyday use.
The Maurice Lacroix strategy consists of constantly surprising people with innovative projects so that they renew their collection by adding something new and different.
The philosophy behind this comes from another principle as well: the brand is committed to making its watches accessible to all customers.
They are convinced that contemporary customers want more than just an aesthetically attractive wristwatch; they want one that will make them proud because it can be worn in any circumstance.
A person wearing a Maurice Lacroix watch knows it stands out among others, and therefore makes a h2 statement about his own personality.
Market position analysis
Maurice Lacroix is a Swiss watch manufacturer and was founded in 1975 by the current CEO, Mr.
Like most other luxury timepiece manufacturers, the brand has evolved from its origins as a craftsman’s workshop to an international marketing company.
The success of this transition can be seen in their worldwide sales that stood at more than 150 million francs (approximately US$180 million) in 1986, representing a unit increase of 20% over the previous year.
Two years earlier, the figure was less than 100 million francs (US$120 million).
Maurice Lacroix is a relatively small luxury watch brand and has faced some challenges from monopolistic competition.
Therefore, in order to survive, the company had to develop its own identity by striving for differentiation.
In consumer research, it was found that Maurice Lacroix’s main competitors are Piaget, Rolex, Vacheron Constantin, and Cartier.
A comparison of these companies highlights an important fact; their target markets differ significantly.
This difference is reflected in both segmentation strategy (see figure below) and business strategy.
One of the most important competitive advantages for Maurice Lacroix lies in their attention to detail which enables them to produce products of higher quality at reasonable prices.
Given that they do not produce millions of watches a year, their resources are more efficiently utilized.
Maurice Lacroix’s strategies express the following distinctive business elements:
Product strategy – In order to promote differentiation, ML set out to attract an upscale market while concurrently avoiding traditional luxury watch competitors’ higher-end clientele.
This can be seen in both product design and pricing.
The ML 110 A chronograph is priced at 3520 Swiss francs (US$2740), which makes this model unaffordable for most consumers, yet it remains competitive with similar products from competitors such as Piaget and Vacheron Constantin.
Price/positioning strategy – Another way Maurice Lacroix establishes itself as a leader within the industry is by pricing its models below the industry’s mean price.
This is due to their tendency to produce fewer products that are of higher quality, thus providing greater value for consumers.
Maurice Lacroix also has some competitive advantages in terms of reputation and image among smaller local companies; this benefits the company by allowing a wider selection of distribution channels within each region.
Distribution strategy – ML is distributed mainly through independent distributors who have very close relationships with salespeople working in world-renowned jewelry stores.
“Compensate [the] prestige shops’ inability to provide high volume for the least expensive models” (Richemont / LVMH) by directing awareness campaigns towards potential customers, so they can purchase from a less prestigious retailer if they prefer, but still be aware.
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