New horizons: interview with Guillermo del Nogal, Chief Commercial Officer at Panerai

This interview with Guillermo del Nogal, Chief Commercial Officer at Panerai, provides an in-depth look at the brand’s commercial strategy and its approach to business transformation. With over 20 years of experience in business strategy, finance, sales, and marketing on an international scale, Guillermo has played a key role in the evolution of major brands such as Adidas, Crocs, and L’Oréal Luxe.

During our conversation, Guillermo shares the challenges and opportunities he has encountered at Panerai, his vision for the luxury market and digitalization, as well as the importance of sustainability in the industry. We also discuss the evolution of e-commerce and how the brand is integrating new omnichannel strategies to enhance the customer experience.

By: Alessandra Huergo

AH: Guillermo, tell me a bit about when you joined Panerai.

Guillermo del Nogal: I recently joined the sector and Panerai; I started in January 2024. This is my first time in Mexico with the brand.

AH: And how has it been so far?

Guillermo del Nogal: Very good. I love Mexico—the food and culture fascinate me. I wouldn’t mind moving here someday.

AH: I’m really glad you like it. Welcome.

AH: As Chief Commercial Officer, your focus is key to the commercial strategy. What are the biggest challenges and opportunities you have faced in your role so far?

Guillermo del Nogal: I have worked in different sectors. I spent many years at Adidas, then moved to cosmetics with L’Oréal Luxe, and what I’ve learned is that every time you switch industries, the most important thing is to understand the consumer. At Panerai, I focus on a single brand, which allows me to have direct contact with customers and gain an in-depth understanding of the business. Additionally, the watch industry is unique: we produce pieces that are part art, part science, so production timelines can be a challenge. We cannot simply accelerate manufacturing; there is a handcrafted process that must be respected.

AH: Of course, it’s a luxury product that requires precision and quality. Speaking of which, sustainability is an important topic across all industries, including luxury. What initiatives is Panerai taking in this area, and how do you see the brand’s future regarding environmental responsibility?

Guillermo del Nogal: For us, sustainability is the responsibility of every employee, not something separate from the business. We opt for more sustainable transportation whenever possible, use recycled materials, and change suppliers if we find more eco-friendly options. However, we do not engage in “greenwashing.” We don’t communicate it as a marketing strategy—we integrate it simply because it is the right thing to do. For example, almost 100% of our steel watches will be made from recycled materials in the coming years, but we don’t promote it because it is already part of how we operate.

AH: That’s an interesting and very consistent stance with the brand’s values.

On another note, how has digitalization and the rise of e-commerce affected the luxury watch sector, and how is Panerai adapting to this transformation?

Guillermo del Nogal: Our digital store is the number one in the world, receiving over a million customers per month. Although people believe high-value products are not bought online, we see the opposite. Many sales begin on the web and are finalized through customer service. The key is to offer a luxury digital experience as good as the physical one.

AH: I totally agree, and I think the luxury sector must incorporate that extraordinary experience into the digital world. Speaking of experiences, the luxury watch market is changing rapidly, with younger consumers increasingly interested in exclusive pieces. How is Panerai attracting this new generation of customers?

Guillermo del Nogal: That’s right. We organize exclusive events based on our customers’ interests, whether it’s cars, whisky, or sailing. This year alone, we have held over 2,000 activations inside and outside our stores, creating unique experiences.

AH: Finally, on a more personal level, what is your favorite Panerai model, and what personal story do you have with it?

Guillermo del Nogal: My favorite is the Luminor Marina. It was the first model I discovered 15 years ago, and for me, it represents the essence of the brand. Moreover, it is the most iconic and best-selling model.

AH: Thank you very much, Guillermo.

Guillermo del Nogal: Thank you. Excellent conversation.

No te pierdas la entrevista en español.

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