Why Is Piaget called the "House of Gold"?
Easy question, simple answer in three parts:
1.) because they bought and integrated the Genevan goldsmith-artisans of Uli Rotach (1968) and Ponti Gennari et Cie. (1969) and so had the best of the best of Genevas goldsmiths in their company and off the market (!) -- P&G for example made some of the most celebrated Patek-cases in the 50s and 60s... but then not anymore.
2.) because they understood a watch as some kind of jewellery / decoration and it has not only a visual component -- the light-reflection of gold that could not be achieved with steel -- but also a haptical component: the weight and quality of a goldwatch is not achievable by another material. And so they used no other. And they were all right, although this understanding is almost forgotten in todays Instagram-world, where a gold-plated watch could reach no less likes than a solid gold one, because the haptical element is completely excluded. But it is a difference for me and it was a difference for Piaget since 1960 and so they made pieces of art from gold, exclusively.
And 3.) because they were imo the only brand that countered the rise / explosion of the goldprice between 1970 - 1980 from USD35 to >USD800 with an aggressive approach and used more gold in their mid-1970s-watches than in their mid-1960s-products and not less as their competitors did as a reaction. See the details and their outstanding and successful strategy here: *klikk.
So, overall Piaget used early a very specific and a very different (and risky!) approach and it was also a quite successful one: the undisputed best in the 1970s and 1980s and just diminished after they were taken over by Cartier -- their biggest competitor, that lost some grip and character with its Must-line -- and then Richemont.
See the other parts of this small but important series Gold & Watches here: *klikk.
