Many people think of Swiss household names such as Patek Philippe, Breguet and Vacheron Constantin when it comes to luxury watches. There is now, however, a small hidden champion vying with these Swiss brands on the global market. It is the Seoul-based watch manufacturer Romanson.
Since its establishment in 1988, the watch brand has developed an array of watch models, complete with creative designs and world-class quality. The company's name was inspired by the craftsmanship of Switzerland's "mechanical city," Romanshorn, the birthplace for many of the world's leading watch brands.
Starting off with only the founder and two workers, Romanson has now grown into a global maker of timepieces that generates some USD 25 million in export sales every year, selling in more than 70 countries worldwide.
Behind the success of going global is the way in which a then 26-year-old watch maker has since focused on a global marketing strategy. In 1988, Kim Ki-moon, the founder, focused his efforts on the Middle Eastern market instead of targeting domestic customers, as on the back of its oil exports the Middle East was then rapidly growing into one of the world's richest powerhouses. That strategy turned out to be prescient, as export sales figures hit USD 20 million in just a decade.
Kim believes that what has made the firm so successful in such a short period of time lies in the brand's, "distinguished design, techniques, competitive price and quality."
A significant portion of the brand's success has been attributed to its investment in developing watch-making technology of its own. Romanson is the first company ever in the world to independently develop a "cutting glass" technology. It allows for a watch to be made with a diamond-shaped, fine cut glass facade, a feature that has supported sales across the Middle East, particularly in Dubai.
Romanson is also Korea's first watch maker to launch a super-slim, 3.89-millimeter thin watch, a design loved by many domestic customers.
On top of those successes, when the company presented its new line of rose gold-plated watches, many European, and especially Russian, female customers immediately fell in love with the pink-hued design.
After some 20 years of successful business, however, the company hit an unexpected stumbling block in 2009. It gradually lost ground as more and more people switched to portable phones. Sales started plummeting and things were on the brink of getting out of control. Romanson realized the need for a radical change to cope with the ordeal.
To face these challenges, the company launched a new model in its Premier series in 2011, the Atrax. Named after the venomous spiders usually found in Australasia, the model looks as if it has four legs, grasping the band from behind. Despite being quite expensive compared to previous models, the model was an instant sales hit, both at home and abroad, becoming the star of Romanson’s lineup.
The collection is fabricated from, “Swiss-made, high-quality key parts,” all of which were also manufactured in the Alpine country.
“We’ve focused on developing designs aimed at living up to the needs and expectations required by each region and culture,” said CEO Kim Ki-seok of Romanson. “The global strategy to which we have stuck has been successful enough to have landed us an opportunity to join the main hall at Baselworld 2014, usually populated with only Swiss watch brands.”
Baselworld is one of the world’s biggest watch and jewelry exhibitions, taking place in Basel, Switzerland, every March. Trend-setting watch and jewelry makers from around the world gather to show off their new product lines. Romanson has attended the annual event since 1997 and every time, the firm’s new designs have stolen the spotlight.
In 2013, the timepiece maker finally made it into the main hall, usually occupied solely by Swiss luxury watch brands.
The CEO affirmed that Romanson would continue to make an all-out effort to become the best watch brand in the world, based on the skills and customer trust that it has accumulated over the years.
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
Some of Romanson's Classic series of watches. (photo courtesy of Romanson)
Since its establishment in 1988, the watch brand has developed an array of watch models, complete with creative designs and world-class quality. The company's name was inspired by the craftsmanship of Switzerland's "mechanical city," Romanshorn, the birthplace for many of the world's leading watch brands.
Starting off with only the founder and two workers, Romanson has now grown into a global maker of timepieces that generates some USD 25 million in export sales every year, selling in more than 70 countries worldwide.
Behind the success of going global is the way in which a then 26-year-old watch maker has since focused on a global marketing strategy. In 1988, Kim Ki-moon, the founder, focused his efforts on the Middle Eastern market instead of targeting domestic customers, as on the back of its oil exports the Middle East was then rapidly growing into one of the world's richest powerhouses. That strategy turned out to be prescient, as export sales figures hit USD 20 million in just a decade.
Kim believes that what has made the firm so successful in such a short period of time lies in the brand's, "distinguished design, techniques, competitive price and quality."
In March 2014, Romanson watches are on display at the world's biggest watch and jewelry exhibition, Baselworld. (photo courtesy of Romanson)
A significant portion of the brand's success has been attributed to its investment in developing watch-making technology of its own. Romanson is the first company ever in the world to independently develop a "cutting glass" technology. It allows for a watch to be made with a diamond-shaped, fine cut glass facade, a feature that has supported sales across the Middle East, particularly in Dubai.
Romanson is also Korea's first watch maker to launch a super-slim, 3.89-millimeter thin watch, a design loved by many domestic customers.
On top of those successes, when the company presented its new line of rose gold-plated watches, many European, and especially Russian, female customers immediately fell in love with the pink-hued design.
After some 20 years of successful business, however, the company hit an unexpected stumbling block in 2009. It gradually lost ground as more and more people switched to portable phones. Sales started plummeting and things were on the brink of getting out of control. Romanson realized the need for a radical change to cope with the ordeal.
The Atrax model from Romanson’s Premier series is one of its most distinguished models. (photo courtesy of Romanson)
To face these challenges, the company launched a new model in its Premier series in 2011, the Atrax. Named after the venomous spiders usually found in Australasia, the model looks as if it has four legs, grasping the band from behind. Despite being quite expensive compared to previous models, the model was an instant sales hit, both at home and abroad, becoming the star of Romanson’s lineup.
The collection is fabricated from, “Swiss-made, high-quality key parts,” all of which were also manufactured in the Alpine country.
“We’ve focused on developing designs aimed at living up to the needs and expectations required by each region and culture,” said CEO Kim Ki-seok of Romanson. “The global strategy to which we have stuck has been successful enough to have landed us an opportunity to join the main hall at Baselworld 2014, usually populated with only Swiss watch brands.”
Romanson, with its high-level technology and lineup of creative designs, joins the mainstream of the international watch market at Baselworld 2014, the world’s biggest watch and jewelry exhibition, held in Basel, Switzerland, every March. (photo courtesy of Romanson)
Baselworld is one of the world’s biggest watch and jewelry exhibitions, taking place in Basel, Switzerland, every March. Trend-setting watch and jewelry makers from around the world gather to show off their new product lines. Romanson has attended the annual event since 1997 and every time, the firm’s new designs have stolen the spotlight.
In 2013, the timepiece maker finally made it into the main hall, usually occupied solely by Swiss luxury watch brands.
Romanson launches its new Classic series at Baselworld 2014, held in Basel, Switzerland, from March 27 to April 3. (photo courtesy of Romanson)
The CEO affirmed that Romanson would continue to make an all-out effort to become the best watch brand in the world, based on the skills and customer trust that it has accumulated over the years.
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
Most popular
- 2 Egyptian sisters reflect on 10 years as Honorary Reporters
- Actor Bae Doona's first romcom in decade to hit theaters in May
- Korea Welcome Week for foreign tourists set from April 25-May 16
- Korea.net welcomes 2025 K-influencers, Honorary Reporters
- Mini-exhibition brings Korean culture to South London town
