With Michele Corvo, owner of the Corvo Company and founder of the boutiques GMT
6 November 2017Let’s begin with a brief historical note, the Corvo Company was founded in 1960 by Giorgio Corvo, official distributor of Jaeger-LeCoultre on the Italian market. When Giorgio passed away in 1997, his son Michele took the reins of the company. In 2003, the business relationship with Jaeger ended, and started partnerships with some of the most important High Independents Watchmaking brands ike F.P.Journe, Harry Winston, Chanel, Bovet, just to name a few. In 2007 Michele decided to open two boutiques entirely dedicated to High Independent Watchmaking, called GMT – Great Masters of Time that turns 10 years old in 2017.
Giorgio changed the history of Jaeger-LeCoultre
The real turning point for Corvo and Jaeger-LeCoultre occurred in 1972, when my father Giorgio discovered a stock of 200 Reverso cases in steel that laid unused in the Le Sentier Manufacture because no rectangular movement were in production anymore. Despite the skepticism of the JLC board he demonstrated to the Master Watchmakers of Jaeger-LeCoultre that it was possible to enclose one of the existing (oval shaped) movements in the Reverso cases. All the 200 watches were reserved for the Italian market, and sold out in a very short time. This result determined the destiny of the brand, that immediately started to produce again the Reverso collection, initiating the worldwide phenomena that we all know.
In which year did you start to work with your father Giorgio?
I began to work with my father at the end of the 70’s. I was genetically programmed to work in the Watchmaking world.
In 2007 you decided to open the first boutique GMT “Great Masters of Time”.
The opening of the first boutique in 2007 in Porto Cervo was born from the need to present super high end Watchmaking brands to an international and very exclusive audience, outside of the “traditional Watchmaking box”
How difficult was it to grow a concept like GMT, without the help of famous brands?
Especially at the beginning it was very difficult with the Italian clientele. The products we were introducing in the market were almost unknown and revolutionary for design and technique.
What kind of clientele looks for these kind of Watchmaking, considered sometimes almost esoteric?
A very educated and wealthy one, not satisfied by usual watches anymore, and who appreciates and research rare and exclusive objects. GMT “Great Masters of Time” has become a reference point for worldwide collectors.
Can you give us an example?
Thank to GMT we have been in contact with incredible clients and watch lovers, Russian magnates, Sheikhs, famous sports people, artists, who purchased objects extremely particular and important. To celebrate the 10th anniversary of GMT we’ll post on our social media pages some of the amazing time machines that passed in “our hands” during the years.
The GMT social media accounts are very active?
It has been the big breakthrough in the last years that my sons Jacopo and Mattia absolutely wanted to develop. It’s an incredible platform to know collectors from all over the world and to promote rare products that people can’t see every day in the stores.
How do you see the evolution of the watchmaking retail business in the coming years?
The retail situation on the Italian market is quite difficult and complex. The local clientele has less economic availability compared to the past, and reduced propensity to spend. Very few stores are able to work with foreign and touristic clientele for several reasons, including location and brand mix. The big cities, the art cities and the touristic destinations are still successful, but the rest are suffering a bit. Let’s also not forget that the Watch brands developed their mono brand boutiques and the multi brands retail, that the same products are offered in the majority of stores worldwide.
What is the weight of the online business for GMT?
It’s an exclusive window to the universe of watch lovers and collectors. It allows us to present what the majority of collectors can rarely see in a normal watch store. Regarding the potential sales there are still a lot of collectors who like to “touch with their hands” and experience the purchase. After the first contact online, through our website and social media, a lot of people travel from all around the world to visit us.
Through our chat with one of the “old school” Watchmaking guru we breathed all the passion perceptible from a reality like Corvo and GMT. Choices, sometimes difficult, that benefits the beautiful niche Watchmaking, the creative and avant-gardist one, that make us dream every day more.
To know more you can visit www.corvocom.it and www.gmtitalia.com