We took a look at Richard Mille's incredible rise and the reasons behind this success through the eyes of the editor.
I remember the first time that I met Richard Mille watches like it was yesterday. I was sitting in an elegant leather armchair in one of the most luxurious watch shops in my region. The space had dark tones, gloomy furniture, and dim lighting. You know, it was one of those expensive watch stores. "We have just received a pair of watches you may like..." they said. All I knew about Richard Mille until then was what I had read and seen on foreign forums. I have given two watches, carefully placed on a large, chamois-covered tray.
One of them is the RM 35-01 Rafael Nadal NTPT and, the other one is the RM 032 Flyback Chronograph Diver's. I don't know why I headed for the RM 032 first. It was more like a cannonball with its brown titanium case and blue rubber strap. According to my later research, the height of the 50mm(!) diameter case, which looked like a skyscraper on the wrist, was 17.8mm. The case was so big that I couldn't even focus on the magnificent movement, the craftsmanship, the dial, or the other details of the watch. Well, it did not take long for me to take it off my wrist.
The RM 35-01, which I picked up in the second place, surprised me in another way: lightness. The 50-gram weight of the watch, the unfamiliar feeling of the carbon case, and the prejudice caused by the Velcro strap made my comment a complete disaster: I would buy a Swatch instead! I clearly remember you could buy 17 Rolex Submariners for the asking price of RM 35-01. I don't even want to know the current equation.
I am not sure if I was lucky or unfortunate to see once again how wrong I was that day. Richard Mille has made incredible progress since its founding in 1999. In the early 2000s, the prices requested for RM watches were often considered "meaningless" by collectors. Mostly wealthy watch lovers that follow their fantasies were interested in RM. Today, the situation is different. Now RM is an indicator of status, wealth, social difference. Watches that used to be bought by collectors just because they were liked are now being bought because they can be bought. Customers do not choose watches anymore. Watches chose customers instead.
Richard Mille (himself) tried a rather unusual yet risky strategy and succeeded. The key might be the financial and engineering support of a movement giant like APRP behind him or his close contacts with the important people in the world. Whatever you say, Richard Mille has accomplished what no other brand has accomplished before in a short time, like 20 years. But, how?
When the forum culture was widespread, and I was actively involved in this trend, RM models were the watches that we could only see in the international forums publishing in English. The RM 005 or later RM 010 models, which we can call the entry-level, were on the wrists of the collectors posing with their exotic cars. I believe the people that had access to tourbillon models such as RM 001 and RM 002 did not have time to spend on digital platforms. While browsing through the archives, I came across a few posts like “RM should work harder and get over the quality control issues if he asks these prices”. Today, it is possible to find watch lovers who would give their right arm even for a non-working RM.
Today, RM produces approximately 5,000 units per year. However, the demand is much more than that. When you enter any Richard Mille boutique, you are greeted with empty windows and a few salespeople. I can't help but think about what they are doing there all day when there is no watch to sell. RM doesn't want his products on everyone's wrists. He sees each of his customers as a brand ambassador. In other words, he decides who will get the watches and who won't.
Recently, I came across a special model at the Horobox office. Richard Mille RM 11-03 McLaren. The model, limited to 500 units in total, will take almost 1/6 of the brand's annual production. Not at once, of course. The total production number will be divided into years. With its 50mm long and approximately 17mm thick case, the watch did not feel much different from my RM experience years ago. However, the lightness and feel of NTPT carbon caused completely different emotions this time. The watch, which I sneered at for its lightness years ago, now represented the pinnacle of horology. As you descend from the dial to the movement, the parts that make up the watch are so finely detailed that it's easy to lose your mind. It is even hard to assume the time it takes to machine parts thinner than 1mm to exceptionally low tolerances. For this reason, the production and assembly of an RM model can take months. The time required for the rear crystal to have the curve of an RM case, which is placed straight on any watch, is measured in days, not hours.
Richard Mille should be handled not only in terms of watchmaking but also in terms of engineering. The artisanal or micro-mechanical marvel on your wrist has details designed, manufactured, and processed with extreme precision. Moreover, these details are everywhere. In the dial, crystal, rotor, wheels, the screws on the bezel, and the folding mechanism in the clasp. In short, we are talking about a watch with incredible effort in every millimeter.
The more time you spend with Richard Mille, the more you admire him. So, what makes RM different from other exotic producers? Awareness that is directly proportional to demand. RM models, especially tonneau-shaped ones, have a bold presence on the wrist. People can tell you are wearing an RM from meters away. Well, most of the people who buy RM watches want to benefit from this effect in today's luxury-consuming world. Well, let's leave the brand's speculative value increase aside, does it make sense to pay those prices for the RM models? Let me answer the question with another question: Since when did you start looking for logic in luxury shopping?
Will this situation continue? Will prices and demand increase further? Who will stop this nonsense? For now, I leave you with unanswered questions.
PS: I wish I had bought that RM 35-01. 😊
