Zenith watches: Ticking to a new beat
Case Study

Zenith watches: Ticking to a new beat

20 pages
December 2020
Reference: IMD-7-2082

The case highlights the dilemma of Zenith watches, a company that got stuck in its own tradition and lost its drive to innovate, relying too long on technical inventions of the past. Julien Tornare was appointed as Zenith CEO in early 2017 by Jean Claude Biver, head of LVMH watch division (Zenith’s parent company) and living legend of the Swiss watch industry (after turning around Blancpain, Omega, Hublot and TAG Heuer). Julien was tasked with repositioning Zenith and injecting a new startup mindset into it. Tornare inherits a demotivated but talented workforce in a very traditional artisanal company but aims to spark creativity and innovation there. His agenda is loaded: repositioning the brand, bringing new products to market, improving sales, opening new markets, transforming the culture, all of this on a short schedule because LVMH has a short fuse

Learning Objective
  1. Understanding the Key Success Factors of the luxury watch industry
  2. Assess internal resources and capabilities, creating strategic options, changing a craftsmen culture
  3. Develop an entrepreneurial mindset, managing growth, turning around a brand
Keywords
Entrepreneurship, Strategy, Innovation, Start-up, Agility, Positioning, Cultural Change, Brand, Zenith (Brand)
Settings
Switzerland, China
LVMH, Clocks and Watches, Luxury Goods and Jewelery
2017-2018
Type
Field Research
Copyright
© IMD 2020
Language
English
Related material
Teaching note, Video
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