From jewellery to cosmetics and ultimately to the family company Carollinum, which operates boutiques of the most prestigious watch brands at a prime address in Prague – this, in brief, is the journey of one of the most successful Czech entrepreneurs, Tamara Kotvalová. In addition to running her business, she is also active in charity work and has received numerous awards for her achievements.
Was it difficult to establish yourself in the watchmaking industry in the 1990s, and how was it for a woman to do business in what was primarily a male-dominated world?
No business beginnings are easy, but if you have courage and things go well, you gradually gain a certain level of confidence. That confidence then helps you deal with major international partners on equal terms. Once they know your history and understand the strength of your position in the market, you can even decline proposals that do not suit you. Today, our position gives us a sense of freedom – we are not dependent on a single supplier or a single contract. After thirty years of continuous growth, we can say that we know what we are doing and can approach our partners with both respect and pride. As a woman, I have never had a problem in business; on the contrary, I would say it has been an advantage. You see, all women who succeed in business possess a certain degree of so-called male energy, which is probably necessary – otherwise they might not withstand the pressure and stress. The feminine energy, which I find incredibly fulfilling, I experience in my personal life.
Have you managed to fulfill the goals you set for yourself thirty years ago?
In April, we opened a new Patek Philippe boutique. For me, it represents the culmination of a major phase and the fulfillment of everything I planned and dreamed of back in 1996. Believe me, it is a true masterpiece – you only need to see the premises with your own eyes to understand. For Carollinum, it was a significant and fundamental investment. After many years in business, and at a time when Patek is increasingly closing retail locations globally, a boutique of this size and scope is truly rewarding. We are incredibly proud of it. Today, we represent all the brands we once aspired to, and now a new chapter can begin – for the younger generation, new energy, and the drive of my children.
How demanding was it to open such a boutique?
I planned the new acquisition and relocation to larger premises for five years. I observed how successful the Patek Philippe brand has become, how it continues to grow year by year, and how sophisticated the clientele in Czechia is. This is reflected in sales of highly complex models as well as jewellery watches priced around one million euros or more. But finding a location on Pařížská Street is not easy – it certainly does not happen overnight. On the contrary, it involves weeks, months, and years of negotiations. I had to find premises of the ideal size that would reflect the brand’s importance. Every idea was consulted with Patek, and I then waited a long time for the final decision. Patek is a family company that, through its independence and exceptional craftsmanship, sets the standards for the entire watchmaking industry. They are demanding not only of themselves, but also of their partners – they assess your company’s stability and financial strength, your client base, and even the economic situation of the country in which you operate. The reconstruction lasted a full fourteen months, but today, at Pařížská 6, you will find a boutique of which there are only five in Europe.
With her family at the Carollinum boutique.
What other new projects are you planning this year?
We decided that alongside Patek, we would open another boutique on Pařížská Street, this time with the prestigious Swiss brand Longines. It will be completed by the end of summer. In addition, we are expanding and modernizing our watch service department, while also preparing a major relocation of the entire company. From September, our offices will be located at Malé náměstí, in the historic House of the Golden Eagle. There is so much work this year that no one in the company is idle – everything must be completed on time and to the highest standard. You have to keep developing the company, bringing in new projects to motivate the people who work there. Our business is primarily about emotions and relationships – with both suppliers and customers. We are a traditional, conservative company, and everything we do is focused on customer satisfaction and continuous improvement. That remains essential even as we undergo digitalization and increase investment in IT. For me, strong new projects are more important than precise turnover and profit figures.
You have been in this field for thirty years. How has it changed over time, and can it still surprise you?
What surprises me is the continuous growth of our market. I am amazed at how knowledgeable our clients are, how deeply they are interested in high watchmaking complications such as perpetual calendars, minute repeaters, or tourbillons, and how they compare brands and select the very best from each. I am also pleasantly surprised by the growing number of collectors in Czechia – both of watches from Patek Philippe and from brands such as Jaeger-LeCoultre, IWC Schaffhausen, or Cartier. What can surprise us negatively is sudden geopolitical developments, but that is something none of us can influence.
Carollinum is a family business – what role do your closest family members play, and what is it like to run a business within a family?
As a mother, I naturally imagined that my children would continue the business – you tend to assume they are like you. Then they join the company, you begin working together, and suddenly you notice things you had never realized before. For example, that business discussions take over your shared holidays – which are already hard to find time for. Combining family and business is not that easy. My son Martin runs the wholesale division and is finalizing the digitalization process. My daughter Daniela is my right hand – she manages office operations and also oversees my agenda. I am proud that both of them are truly hardworking and responsible. They are in daily contact with me, with suppliers, with some clients, and of course with employees. The voice of the family council is important in key business and strategic decisions. However, if we cannot reach agreement, it is up to me to have the final say and decide what is best for the company at that moment. My role is to set the direction for the company’s future, bring in new projects and acquisitions – whether it is securing a new brand for our portfolio or developing a new store – and to oversee sales.
Is having time for yourself a luxury, or can you now afford a slower pace? Where do you draw energy for all your activities?
Anyone who knows me knows that everything I do, I do one hundred percent, and knows how important my work is to me. As long as I can, I will continue working at Carollinum and on my other projects – I still enjoy it. When I rest, it is usually active. I love the Krkonoše Mountains and the Tatras, where nature gives me strength. In summer, I recharge in Croatia – I grew up there and feel at home.
With Tereza Maxová at the Carollinum Summer Party.
Awards
Woman of the Year, the Czechoslovak Lion Order (Second Class), Top Women of Czechia, and many other honors – what do they mean to Tamara Kotvalová personally? “Each one means something different,” she says. “Of course, receiving awards like Woman or Entrepreneur of the Year is gratifying, it pleases you and motivates you. But I am not someone who actively seeks out such competitions – for me, praise from a client is far more meaningful. I received the Czechoslovak Lion Order (Second Class) and the Moral Authority Award from General Emil Boček. When he presented them to me, I was deeply moved – I did not expect it at all. In fact, I did not feel worthy of such recognition from a war hero. These are the awards I value most, because I received them from a true friend, a fair and courageous man whom I greatly admired. The bravery and courage of people like him should be remembered every day.”CV BOX
Tamara Kotvalová is a Czech entrepreneur and owner of Carollinum boutiques.
She studied at a teacher training school and worked as a teacher in Slovakia until 1991. After returning to Czechia, she worked for a German company, where she was involved, among other things, in expansion into Russia and Ukraine.
In 1996, she founded Carollinum and secured exclusive representation of the Montblanc brand for the Czech Republic. Two years later, she opened an Alfred Dunhill boutique on Pařížská Street. The Simple Concept Store fashion boutique received the Czech Grand Design award.
Since 2002, she has operated a number of luxury watch boutiques (Rolex, Patek Philippe, Breitling, the Carollinum multibrand), a watch service center, and represents five brands wholesale. She is a leader in the Czech watchmaking market.
She is also active in charity work and has received numerous awards. She is regularly included in rankings of influential women in Czechia.
She lives in Prague and has three children.
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