Under this title, Global Moscow published its interview with Syrian businessman Jihad Bakkoura, the creator of the luxury watch brand "Bakkoura." In the interview, he affirmed that it is indeed possible to compete with the "beasts" of the West. He explained, during his conversation with globalmsk.ru, a business news portal in Moscow, that the luxury goods market can be divided into two categories: premium and luxury. The line that separates them is very thin, and it is not always possible to determine the distinguishing brand or which category it belongs to.
Furthermore, distinguished brands can fall under the category of luxury products, while luxury brands can offer goods in the premium segment. It all depends on proper marketing. When the objective characteristics do not significantly affect the brand, distinguished brands become more about display. These watches and accessories project the owner's status and social position to those around them.
Well-known names with a strong and elevated status, such as the brand "Seiko," for example, are not considered luxury watches and are not likely to be purchased, regardless of the luxurious collection they offer. This means that buyers perceive these brands as "money's enemy."
On the other hand, the luxury market is a market for desires, where cost doesn't matter, and the ability to understand its value is not necessary for the beholder. As a general rule, this is a narrow circle of the enlightened or individuals from a certain level or social status who have a keen understanding of the value of exclusive accessories.
Jihad mentioned in the interview, "When I thought about creating 'Bakkoura' watches, I had been working in the watch industry for years and in a professional capacity. Through my experience, I realized that if you want to create something innovative, it must be a unique product, not just a ready-to-wear item but a sophisticated 'Couture' watch."
He emphasized that competing with major names in the distinguished goods market would not be possible overnight. It takes years of hard work to establish positioning and raise awareness of the brand. This is the reason why Bakkoura watches target the luxury goods sector, emphasizing reliable quality (as there have been recent scandals regarding counterfeit luxury brands in the watch market, with inflated prices and low quality, along with fake origin information) and serious engineering advancements with limited editions. Luxury goods buyers are not just looking for quality and design; they seek uniqueness and authenticity, which is particularly evident in the Russian, Emirati, and Chinese markets, where buyers are more daring.
According to Jihad Bakkoura, another important factor is the alignment of the product with the mentality and consumption model of the buyer. The preferences of Russian luxury consumers tend to be moderate and conservative. This openness to unconventional and innovative ideas, with design matching the brand's image and internal structure, is essential.
Jihad Bakkoura said, "In Russia, a buyer is ready to spend all their money on a watch they like. But for it to sell, the 'right' design must be presented. For example, a man will not buy a watch in a 'feminine' color or size. That is why the Bakkoura brand, for example, has abandoned gender fashion experiments, such as using pink color for men or small-sized watches on a wide wrist."
Based on the conservative consumption model, women usually don't buy watches for themselves unless it is considered an investment, but these cases are rare. Women usually wear watches they receive as gifts.
In Russia, as well as around the world, few men are willing to venture into shopping for women's accessories. Here, once again, marketing plays a role in selling brands that convince men to make the purchase. It becomes a distinguishing feature that sets them apart and prevents them from choosing among dozens of similar pieces, only differing in color.
And Bakkoura clarified that the brand is not important when you see the idea and love it because the luxury market is the market of desires. When I created my first collection for "Bakkoura Princes" and "Bakkoura Emoji" and presented them, I knew the idea would succeed. The watches, whether in the form of a blonde or brunette woman winking or offering different expressions, are not just watches, they are mechanical jewelry with the option to display time. It was not boring or ordinary; it was an opportunity to surprise a girl, and that was a motivation to sell accessories. By the way, Cartier followed the same path at some point, with minimal gemstones or precious materials; it was about the idea and design.
The buyer will choose the watch that matches their vision and suits them perfectly. As they say, the devil is in the details, and this is the main difference between luxury goods and mass production, expensive European brands and goods produced elsewhere.
"Yes, the devil is in the details, but we have expelled him. If you can control the details, in the luxury market, there are no ordinary details. If you are ready to spend years creating a high-quality product, the buyer will not care where it was manufactured. They buy the quality and reputation of the product," said Jihad. And of course, it is possible to produce exclusive merchandise if you are not participating in a race for profits and have patience to produce quality and excellence.
"In the beginning, there is the idea. For example, you can imagine the mechanism 100%. Then you start building the mechanism and its complexities based on it, and then comes the design. In production, more than forty people contribute, and the first prototype is tested, how it will look on the wrist, how the watch strap will fit on the wrist, and how it will appear in motion. Then the prototype is sent for improvement, and in some cases, we start everything from scratch, and this may happen several times. Every detail plays an important role; there are dozens of factors to consider without losing uniqueness. It takes at least three years to complete a model from the "Bakkoura" series.
Another thing that benefits new brands, including those created in Russia, is that people accumulated large sums of money during the quarantine due to COVID, and they are ready and willing to spend it. However, at the same time, knowledge and desire for this may be limited. This can be called "fragmented awareness," as people usually handle massive amounts of information but do not want or are not prepared to delve into the essence to understand the matter. As the designer wrote, the matter must be authentic. And since all manufacturers write the same thing with minor modifications, the choice is determined by what the buyer personally prefers and the motivation for purchase, not the brand or country of origin.
Despite minor differences, fragmented awareness imposes stereotypical images on the market. This makes it easy to evaluate and choose what is presented. Brands have the choice to follow the guidelines or spend years and millions to determine the new trend. Some choose the second path, but most go with the flow: Scottish whiskey, French perfume, German cars, Swiss watches. Many companies imitate and create fake Western brands or, like "Bakkoura," create the brand, ideas, and control in Russia, while materials and assembly are done in Switzerland. This gives the right to label it as "fully Swiss" and thus reduces the distance between the buyer and the purchase. This is a strong stereotype, even though in Russia, we can produce more complex mechanisms and better than Swiss craftsmen, but the buyer is not yet ready to pay the price.
According to the designers of the "Bakkoura" brand, the main factors are belief, patience, and gradual progress. Buyers, not only in Russia but around the world, will come to appreciate luxury goods created in Russia properly.
Based on all this, can a luxury brand established in Russia compete with Western "monsters"? The answer is yes. If you don't waste money on trivialities, don't follow the markets, but prioritize patience, quality, and comprehensive control of every stage, and market professionally.
