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Editorial

THE RESILIENCE

OF THE WATCH INDUSTRY

BY PIERRE MAILLARD

S

ince 1927, the year it was founded, Europa Star has been on the front line, watching, commentating, analysing and experiencing all of the “watch industry crises” as they have unfolded.

In reality, however, the watch industry has done no more than mirror, more or less, international and local crises.

Our first major drama arrived quite quickly, in 1929. We had witnessed the shutting down of the Russian market in 1917, the rising tide of protectionism, hyperinflation in Germany, and everything came to a head.

“The decline in watch exports as of the end of 1929 brought about dramatic levels of unemployment. Of the 24,791 registered workers in the canton of Neuchâtel, 14,258 are unemployed. 6,634 of these are completely jobless and 7,418 are employed part-time, with 206 employed to work by the authorities,” states a newspaper report of the time.

Ten years later, the Second World War erupted, and threw everything up in the air once again. But the watch industry managed to adjust and, paradoxically, did well out of it. Between 1939 and 1942 alone, exports grew from 196 million to 284 million. After the war, the industry reorganised from top to bottom, began regulating itself, regrouped and re-established its dominance.

Then quartz came along, leaving destruction in its wake.

It was even worse than 1929. There’s no point rehashing that episode, we all know the story. Between 1970 and 1976, the number of people employed by the watch industry plummeted by nearly 40%. But there again, the situation was consistent with what was happening elsewhere. At the time, Japan was the rising model economy.

A glance through the advertisements in our magazine confirms that what followed was a “glam-quartz” period of mass-market watches that were colourful, playful and disposable. That lasted more or less until mechanical watchmaking moved back into centre stage, where it now reigns absolute.

This upward curve was by no means smooth; there were peaks and troughs of varying magnitudes, “cor-

4

rections” attributable to episodes of market madness (faithfully mirrored in the watch industry, let there be no mistake). But whatever anyone says, these periods of turbulence were absorbed relatively painlessly: the watch market grew from 10.3 billion Swiss francs in exports in 2009 to a high of 21.5 billion in 2015, retreating slightly to just under 20 billion in 2017. So, on the whole, so far so good, as they say.

The watch industry has always proved to be resilient, opportunistic where necessary, and capable of embracing change.

So why does there seem to be this strange looming sense of anxiety, disquiet, uncertainty? Smartwatches threw a spanner in the works, marketing strategies are no longer really working, fly-by-night startups are sprouting like mushrooms, tastes are changing, one e-commerce site holds invaluable data on one million actual watch buyers, movements made entirely by machine are certified by the COSC, new materials with incredible properties are being invented, vintage is everywhere, XXL watches are now considered vulgar (about time too...). Everything is up in the air.

It’s all one big tangle – digital revolution, social media, connection, e-commerce, globalisation, protectionism... all carried on a wave of words from hordes of bloggers, instagrammers, influencers, social media pirates, experts and professional speakers. Not forgetting humble journalists. The watch industry, which tries so hard to control everything – production upstream, distribution downstream and communication at all points in between – is once again watching the cracks appear in its carefully built edifice.

There are many uncertainties. Old structures are breaking down. But equally, new paths are opening up.

Did someone mention “resilience”?

In this issue, we have a special dossier that looks at twelve of these ongoing upheavals. Each raises a number of questions, to which we will be returning in future issues.

TO BREAK THE RULES, YOU MUST FIRST MASTER THEM. THE VALLÉE DE JOUX. FOR MILLENNIA A HARSH, UNYIELDING ENVIRONMENT; AND SINCE 1875 THE HOME OF AUDEMARS PIGUET, IN THE VILLAGE OF LE BRASSUS. THE EARLY WATCHMAKERS WERE SHAPED HERE, IN AWE OF THE FORCE OF NATURE YET DRIVEN TO MASTER ITS MYSTERIES THROUGH THE COMPLEX MECHANICS OF THEIR CRAFT. STILL TODAY THIS PIONEERING SPIRIT INSPIRES US TO CONSTANTLY CHALLENGE THE CONVENTIONS OF

AUDEMARSPIGUET.COM

FINE WATCHMAKING.

IN STAINLESS STEEL

LAUREATO CHRONOGRAPH, 904L STEEL CASE, 42 MM

www.girard-perregaux.com

TIME , A HE RMÈS OB JECT.

Carré H Time, square like a Hermès scarf.

EDOUARD BOVET TOURBILLON 3 times patented Timepiece fully developed and manufactured in-house

Unequalled Amadeo convertible case system Triple time zone with 24-city indicators; Indexable time zone hands Flying tourbillon; 10 days power reserve; 5 years international warranty Limited edition of 60 movements

P L E A S E V I S I T U S AT B OV E T. C O M

F O U N D I N G M E M B E R O F T H E Q U A L I T Y F L E U R I E R C E RT I F I CAT I O N A N D PA RT N E R O F T H E F O U N DAT I O N H I G H H O R O L O G Y

MANERO FLYBACK AUTOMATIC

|

ROSE GOLD 18 K

c ar l-f-buc he r e r.c om

GLOBAL EDITION | CHAPTER 2.2018 PATEK PHILIPPE LADIES’ CHRONOGRAPH

This new hand-wound chronograph comes in an 38 mm round rose gold case, with a slim bezel set with 72 roundcut diamonds. A gently domed boxtype sapphire crystal, protruding and slightly twisted lugs and “mushroom” pushers are all design elements that remind us that vintage styling is back.

Equipped with the Calibre 29-535 PS, the first manual chronograph movement entirely designed and built in-house.

BASEL-BASHING

COVER STORY

PATEK PHILIPPE LADIES’ CHRONOGRAPH

A NECESSARY ADAPTATION

24 18

CEO INTERVIEWS

28 OMEGA 34 LONGINES 46 BULGARI 50 CORUM 54 CASIO 56 RJ ROMAIN JEROME

28

PATEK PHILIPPE SA Ch. du Pont-du-Centenaire 141 CH 1211 Genève 2, Switzerland Tel. : +41 (0)22 884 20 20 www.patek.com

160

40

COLUMNS

160 WHEN I WAS OLD 161 GOOD, BETTER, BEST 162 A LAST WORD TO START

106 70 TWELVE DISRUPTIONS

110 STYLES 124 CHANNELS 142 LABS

62

SWISS TIMING

A VIEW OF THE SLOPES

SWISS MADE

“AN INCONVENIENT TRUTH”

PORTFOLIO

BASELWORLD 2018

SUBSCRIBE TO EUROPA STAR MAGAZINE www.europastar.com/subscribe | SUBSCRIBE TO THE WEEKLY NEWSLETTER www.europastar.com/newsletter | CHAIRMAN Philippe Maillard PUBLISHER Serge Maillard EDITOR-IN-CHIEF Pierre Maillard CONCEPTION & DESIGN Serge Maillard, Pierre Maillard, Alexis Sgouridis DIGITAL EDITOR Ashkhen Longet PUBLISHING / MARKETING / CIRCULATION Nathalie Glattfelder, Marianne Bechtel/Bab-Consulting, Jocelyne Bailly, Véronique Zorzi BUSINESS MANAGER Catherine Giloux MAGAZINES Europa Star Global | USA | China | Première (Switzerland) | Bulletin d’informations | Eurotec EUROPA STAR HBM SA Route des Acacias 25, CH-1227 Geneva - Switzerland, Tel +41 22 307 78 37, Fax +41 22 300 37 48, contact@europastar.com Copyright 2018 EUROPA STAR | All rights reserved. No part of this publication may be reproduced in any form without the written permission of Europa Star HBM SA Geneva.

The statements and opinions expressed in this publication are those of the authors and not necessarily Europa Star.

Subscription service | Europa Star | 5 issues | Worldwide airmail delivery CHF 90 | Subscription orders via: europastar.com/subscribe | Enquiries: contact@europastar.com ISSN 2504-4591 | www.europastar.com |

Chronometer FB 1.4-1

1 76 8. I n t h e c o n q u e s t o f t h e o c e a n s, e v e ry mi nute counts.

Tossed about on the waves of the Atlantic Ocean a corvette sailing ship belonging to the King of France, heads for Santo Domingo. On board are two marine chronometers created by Swiss watchmaking genius, Ferdinand Berthoud. Helping to calculate longitude to the nearest halfdegree, these timepieces would guarantee the success of this 12-month expedition on the high seas. The era of great scientifi c exploration is born.

Two and a half centuries after this feat, the timepieces of Chronométrie FERDINAND BERTHOUD live on, in a contemporary interpretation of these extraordinarily precise measuring instruments. The Chronometer FERDINAND BERTHOUD FB1 in white gold was awarded the “Aiguille d’Or”

PRECISION FOR EXPLORERS

by the Grand Prix d’Horlogerie de Genève 2016.

ferdinandber thoud.ch

GENEVA, LUCERNE, ZURICH Les Ambassadeurs · DUBAI Ahmed Seddiqi & Sons · GERMANY Wempe PARIS Dubail · SINGAPORE Sincere Fine Watches · TOKYO Yoshida

BASELWORLD – MARCH 22-27 2018 – HALL 1.1, BOOTH L11

Cover Story

PATEK PHILIPPE LADIES’ CHRONOGRAPH

THE LATEST IN A LONG LINE OF COMPLICATIONS FOR WOMEN

BY PIERRE MAILLARD

I

n 1916, Patek Philippe, which already had a rich history of complicated pocket watch designs to its name, sold its first minute repeater wristwatch in New York. It was a ladies’ watch: a gold-plated five-minute repeater with two gongs, 27.1 mm in diameter with a depth of 9.3 mm. More than one hundred years ago, this was the Geneva watchmaker’s first foray into mechanical complications for women. It was far from being the last.

Over the following decades, the manufacture would continue to make watches for women. In the 1950s it set up a specialised workshop dedicated to decorating, embellishing and gem-setting the cases and bracelets of women’s watches.

But it was not until 1997 that Patek Philippe decided to invest in what has now become a comprehensive range of complicated watches created specifically for women: the dual time zone Travel Time (1997), Moon Phase (1998), Annual Calendar and Moon Phase (2005), Chronograph (2010), Flyback Chronograph (2011), Minute Repeater (2011), Universal Time (2011), Perpetual Calendar and Moon Phase (2012), Multi-Scale Chronograph (2014), Universal Time and Moon Phase (2014). And these are just the original models – there have been countless variants and improvements since they were first released.

As of today, Patek Philippe offers what is probably the most complete range of mechanical complications for women of any watch brand. The undeniable success of these women’s timepieces relies on maintaining a vital and particularly delicate balance: behind the classically elegant styling and understated chic lies a wealth of mechanical virtuosity. The result is complications that are useful, extremely easy to use, and the perfect response to female clients’ burgeoning interest in technically sophisticated and timeless watches.

19

Ref. 4864 (1997) Travel Time In 1997 Patek Philippe launched the Travel Time, in men’s and women’s versions. Its ingenious mechanism allows the wearer to see the time in two different time zones in a simple, functional and extremely elegant way. The display combines two completely independent hour hands, distinguishable by their different colours – gold for home time and black for local time.

When the time zone function is inactive, only one hand is seen, because they move around the dial together in perfect unison, one hidden behind the other. The hour of the second time zone can be set very easily using the two corrector pushers integrated into the caseband of the watch, which move it forwards or backwards (an innovation that was awarded a patent back in 1959).

This Travel Time watch, an instant hit with the ladies, marked the inauguration of Patek Philippe’s vast women’s complication programme, which was to be expanded regularly and frequently over the following two decades.

1916

1997

20

Ref. 4857 (1998) Moon phase and small seconds In 1998, Patek Philippe unveiled a new women’s complication in a classic Calatrava case. This new watch was fitted with the manufacture’s smallest mechanical movement, which was nevertheless exquisitely executed (at the time it bore the Geneva Hallmark, since replaced by the Patek Philippe Seal). The watch showcased a completely new display, with the moon phase and small seconds arranged side by side.

1998

P 594 5-Minute Repeater

Ref. 4937 Annual Calendar /Moon Phases

Ref. 4936 (2005) Annual calendar and moon phase

2005

In 1996, Patek Philippe launched its famous Annual Calendar, a patented and therefore exclusive complication.

Practical, legible and easy to use, but highly technically sophisticated, the Annual Calendar was a runaway success. In 2005, for the first time, Patek Philippe put this complication into a women’s watch with delicate, feminine styling. It featured a natural mother-of-pearl dial, and the bezel was set with 156 round diamonds in two different sizes, arranged in twin staggered rows.

Its 39 mm diameter made the indications more readable (hours, minutes, seconds, day, month, date, power reserve and moon phase). It required adjustment just once a year, at the end of February.

2006

2007

Ref. 4858 Moon Phases

Ref. 4958 Moon Phases

Ref. 7059 Split-Seconds Chronograph

2010

Ref. 4934 Travel Time

Ref. 7180/1 Skeleton

Ref. 7000 Minute Repeater

Ref. 7130 World Time

Ref. 7130 (2017) Universal Time

Ref. 7071R (2010) Ladies First Chronograph 2010 was a landmark year: it was the year Thierry Stern marked the start of his presidency in Paris’s Place Vendôme with the launch of a new hand-wound chronograph movement, the Calibre 29-535 PS, entirely developed and manufactured in-house. It is a traditionally constructed column wheel movement, with six patents to attest to its functionality, high reliability, precision (-3/+2 sec/day) and ease of use.

This brand new movement debuted in the Ladies First Chronograph. As its name suggests, this was the first time Patek Philippe had launched a new calibre and a new complication in a model destined for female wrists.

It proved hugely popular. So much so that Patek speeded up its production of new complications for women – twenty more were released between 2010 and 2018.

2011

2012

Ref. 7140 (2012) Ladies First Perpetual Calendar In 2012, following on from two extra-thin ladies’ complications (a flyback chronograph and a minute repeater), it was time for a perpetual calendar, the first complication of this kind to be offered as part of the company’s current collections for women. It had all the ingredients of an ultra-feminine timepiece: a round 35.10 mm Calatrava case in rose gold, a lustrous creamy white dial, delicate curved lugs, and a diamond-set bezel and clasp.

The hour, minute, date, day, month, leap year, 24-hour indicator and moon phase display are beautifully arranged in the space, making the watch eminently legible.

The watch comes with two interchangeable casebacks – one in solid rose gold and the other made of sapphire, through which the architecture and finish of the extra-thin 240 Q calibre, one of the watchmaker’s flagship movements, can be admired.

2013

2014

2015

After a preliminary outing in 2011, the Universal Time Reference 7130 returned in 2017 in a particularly elegant new version of one of Patek Philippe’s most iconic complications. The white gold case, diamond-set bezel, cities disc and ring bearing the 24 time zones all draw the gaze towards the centre of the delicately worked guilloché dial in shades of blue and grey.

Local time is displayed on the hands in the centre of the dial, and the name of the associated city appears above the little red arrow at twelve o’clock, showing the hour and whether it is day or night. The hours of the other 23 time zones can be read at a glance off the 24-hour disc, which rotates anti-clockwise inside the city disc. To select a different time zone, one simply presses the pusher at 10 o’clock to bring the chosen city into the 12 o’clock position. Intuitive, harmonious and effortlessly classy.

2016

2017

Ref. 4968 Moon Phases Ref. 4948 Annual Calendar / Moon Phases

Ref. 4968/400 Moon Phases

Ref. 4947 Annual Calendar / Moon Phases

Ref. 4675 Multi-Scale Chronograph Ref. 7175 World Time Moon Ref. 7134 Travel Time

Ref. 7121 Moon Phases

Ref. 7121/1 Moon Phases

21

2018 – THE NEW LADIES CHRONOGRAPH, THE LATEST HAND-WOUND CHRONOGRAPH The Ladies First Chronograph ref. 7071 of 2010 remained in production until 2016. After a highly successful reign, this most seductive watch bowed out in favour of the latest reference, the 7150, simply called the Ladies Chronograph.

Like the previous chronograph in its day, this new timepiece is now the only chronograph in Patek Philippe’s Ladies collection.

The new hand-wound chronograph comes in an elegant 38 mm round rose gold case, with a slim bezel set with 72 round-cut diamonds.

A gently domed box-type sapphire crystal, protruding and slightly twisted lugs and “mushroom” pushers are all design elements that remind us that vintage styling is back. But these subtle references serve only to strengthen the watch’s timeless appeal.

The same balance between functionality and aesthetic subtlety can be found on the dial. Its silvered opaline finish is both technical – offering uncompromising legibility of the chronographic and pulsometric indicators – and delicately harmonious. The hours and minutes are read off the tips of the Breguet-style rose gold hands, which point to the Breguet numerals, also in rose gold, applied around the periphery. They are encircled by a fine gold line, as are the small seconds and the 30-minute counter.

The new reference 7150 (or, to give it its full name, the 7150/250R-001) is mounted on an alligator bracelet, with a rose gold clasp set with 27 diamonds.

At the heart of the hand-wound Ladies Chronograph, visible beneath the box-type sapphire glass perfectly integrated into the aesthetics of the caseback, beats the very same Calibre CH 29-535 PS that made its debut in 2009. It is the latest offspring of the Geneva watchmaker’s longstanding love affair with the chronograph, which dates back to the mid-19th century. The relationship has resulted in numerous inventions, patents and innovations, including the little-known 1923 commission that resulted in Patek Philippe supplying the very first flyback chronograph wristwatch.

This Calibre 29-535 PS is the successor to the famous Calibre CH 27-70, built on a Nouvelle Lemania base movement, which is highly prized by connoisseurs of traditional movement architecture. It is also the first manual chronograph movement entirely designed and built in-house. Its perfect architecture and classic construction are accompanied by six different patents which cover optimised energy transmission, friction reduction, self-regulation and synchronisation.

Thanks to its reliability, its precision and its robustness, it is a calibre of reference, both aesthetically and technically.

There is no doubt that this new hand-wound Ladies Chronograph, with its superlative movement and exterior finish, marks the start of a new era in the already rich history that unites Patek Philippe with the growing number of female watch complication enthusiasts.

22

23

24

Baselworld

BASELBASHING!

BY SERGE MAILLARD

Let's stop being dramatic. "Baselbashing" has reached an all-time high.

In this digital age, all watch trade fairs must change their operational procedure.

So should the media. And the brands themselves. What's wrong with that?

Reproduction on watercolour (1806) of the Dance of the Death of Basel, painted in 1440.

25 25

Is there a doctor in the house to But let's drop the drama. To start with, let's forget the save Baselworld? In the last two supposed threat that the event will disappear altogethyears – basically since digital tech- er – at least not in the next two years (according to our nology made its big break into information on commitments made by the most imporwatchmaking, which coincided tant exhibitors). Let's give them the benefit of the doubt, with the Chinese crisis – what re- a chance to claw their way back. But a reaction should mains the most important trade indeed make itself felt. Because the profession still fair in the watchmaking world has been attacked from needs a moment of catharsis. Symbiosis. Handshakes all all sides. The event appears to be entrenched in denial, around. Effervescence. But in a different way. discrepancy and decrepitude.

As long as it still has a spine – made up of the Swatch Since the beginning of the year, journalists have been Group, LVMH, Rolex, Patek Philippe and various receiving interviews (or rather press releases) from Japanese brands, among others – the trade fair will the organisation, featuring heads of continue to attract at least a few huncompanies advocating the impordred players from the watchmaking That being said, I wish tance of the trade fair. But rather than world, if not the few thousand that it driving home a positive image, the to defend Baselworld... used to bring in. The central core is vacuous propagandist side of the op- a reason to gather there, and it continues to actively superation has actually hammered yet anport the event, if only in the form of together, a true need other nail into its coffin. Pulling heavy lip service. strings or stomping around is not go- in this age when But renting out overpriced booths ing to win over the hearts of luxury everything happens is no longer enough. The emissaries aficionados in this era of accountabil- at a distance. of Baselworld have probably travity, irony and weariness with regard to elled the world in search of the best political correctness. practices in watchmaking trade fairs.

That being said, I wish to defend Baselworld... despite Let's hope that they have noted the example of Dubai the considerable arrogance shown by the organisation, Watch Week, which in turn appears to have inspired the corollary of the monopolistic security that it has the SIHH and its new American counterpart, Watches enjoyed for so long; despite the "cold" shareholder's & Wonders. These events offer a true programme of approach on the part of an event that should be a "hot round tables and straight-shooting conferences; they ticket" on the watchmaking calendar: a reason to gather include vintage watches so sought after by the famous together, a true need in this age when everything hap- millennials; they feature interactive spaces (not limitpens at a distance. An approach that is so different from ed to the Samsung booth); and more. In a word, they fothat of the team of the Fondation de la Haute Horlogerie, cus on the cultural, in the sense of what makes watchthe competitor with the wind in its sails: affordable, ir- making culture so attractive for millions of people reverent and professional. across the world, to facilitate the commercial. Instead And, last but not least, despite the soaring price of of simply glossing over what is clearly organisational participation in the event, a holdover from another and financial stress. Change should be felt in our guts! time that reveals how much our consumption hab- We at Europa Star, have been attending Baselworld its have changed, and a cruel demonstration of how for four generations. This year, we will be hosting our Baselworld is living on another planet... Let's face it: booth for the 80th consecutive year. My great-grandall over the building, cracks are appearing. Taxis with father, watchmaker/editor or editor/watchmaker (deexplosive fares are faced with Uber. Hotels with pro- pending on who you talk to), was already hosting a hibitive rates? Airbnb. Restaurants charging three booth in the 1930s. But like us in the media, and like times what a meal is worth? TripAdvisor. Expensive, the brands themselves, the event must learn to adapt. conformist booths? Extramural concept stores.

The goldmine that it had been sitting on no longer exThe accumulated frustration is such that the reaction ists. Now, we know that any transition brings inevitable is all the more disproportionate. Baselworld is said to pain. But too often we underestimate the resilience be "finished": threatened with a definitive shutdown, of the companies in this industry. In 2018, this is not completely outdated. their first rodeo, and it is not the first time they have bounced back. Only time will tell whether Baselworld will, too.

26

ZENITH, THE FUTURE OF SWISS WATCHMAKING DEFY I El Primero 21 1/100 of a second chronograph th

www.zenith-watches.com

Raynald Aeschlimann

OMEGA:

“A LITTLE MORE TIME…” INTERVIEW BY SERGE MAILLARD AND ASHKHEN LONGET

The “elder brother” of the Swatch family and the world number two watch brand, Omega has multiplied initiatives under the energetic leadership of Raynald Aeschlimann. A new and much talked-about e-commerce site in the United States, a new production site in Biel, strong capitalisation on the taste for vintage watches in the more mature markets, numerous sales outlets in mainland China – we talked about Omega’s roadmap with the man behind it.

I

n this issue of Europa Star, we invite you to meet two key figures of the Swatch Group.

Incidentally, they both served in the Swiss army. That necessarily builds bonds. Today, they are both part of the top management of the world’s largest watchmaking group, where both have worked for a very long time.

Having ascertained from colonel Walter Von Känel who gives the orders at Longines over a tête de veau in St-Imier (see p. 34), we set off to meet officer Raynald Aeschlimann, 47, who pilots Omega from his new building in Biel. Inaugurated last year, it was designed by the reputed Japanese architect Shigeru Ban. Omega has a strong presence in Asia, and even more so with the Olympic Games in Pyeongchang this year. And you’re continuing to put a huge effort into marketing there. Is that continent the brand’s “impassable horizon”?

You have to understand the demographics that are still operating in Asia. We’re only just starting to grow in China and Singapore, not to mention India…. In mainland China, we already have 200 sales outlets, including 30 of our own boutiques. Sociologically speaking, we’re destined to grow with the country!

with the Speedmaster and promotions like Speedy Tuesday (ed.: the sale of 2,012 special Speedmaster models, which were sold in under 5 hours last year)...

The ‘1957 trilogy’ (Speedmaster, Seamaster, Railmaster) we launched last year at Baselworld was also well-received. People talk of ‘vintage’, but it’s not just a matter of copy-and-paste. Let’s say that we updated Omega products to suit the tastes of collectors in those countries. But we still need stronger emphasis on vintage models for women. We’re going to put that right next year.

We’re also wondering about your potential in the United States, the stronghold of your principal competitor. Your latest offensive has been to launch your own e-commerce platform.

The United States itself still has potential before it becomes a ‘mature’ watch market, and that should be to our advantage. Proof of that is that the average price in our own 28 boutiques is higher than in the other outlets in the country. There’s a real passion for the watch and its history in the United States, and that showed during the Speedy Tuesday operation. Americans were among the top three buyers. That prompted us to open an e-commerce site last autumn, our brand’s first.

On the more mature watch markets, in Europe, you’ve capitalised a lot on the taste for vintage watches, 29

Yes, that caused a lot of tongues to wag. It looked you were opening hostilities on the internet. After opening your own boutiques, now you’re into e-commerce – that’s not likely to reassure the retailers…

It’s not reassuring for the retailers who don’t believe in Omega any more, of course. But I’d remind you that we’ve cut the total number of our outlets worldwide from 7,000 to 2,500 today. And we’re going to keep those 2,500! They’re very proud to work with us and they earn a lot more thanks to Omega than with sales of other brands. They’ve succeeded in generating additional business thanks to our brand.

What was their reaction to the launch of your ecommerce site in the United States?

Let me state quite clearly: my view is that it isn’t ’killing’ the distribution chain. It’s a way of reasserting ourselves and strengthening our direct contact with the end customer. You have to face up to reality: some of our customers already buy online, because they’re dissatisfied with the distribution network as it now stands. It’s a question of creating a network over a vast territory. Some of our customers in the United States are 600 kilometres from the nearest Omega outlet.

It’s cultural too: maybe an American customer is more prone – today at least – to buying online than a European…

Yes, we took the decision after observing that traffic on our US website was huge. In the US, e-commerce in watches is now an important reality, because either for reasons of convenience or geographical remoteness it complements the distribution network.

What is the purpose of the e-commerce site in the United States? To serve as a test before being applied to the rest of the world?

It isn’t a simple ‘test’, because it’s set to last. The United States has been the first to benefit from it, because that’s where we saw the greatest potential and the highest demand. As regards complementarity between physical and virtual sales, a much talked-about subject on the market, there was a total vacuum there.

30

If that kind of complementarity is so important, why aren’t you present on an e-commerce platform like TMall (a subsidiary of Alibaba) in China, your flagship market, like your Swatch Group brother-inarms Longines?

We apply a simple rule: we are not present on sites like Amazon or TMall. Despite migrating to the web, we’re not forgetting the brand’s experience and image. And at the moment, I don’t see how we can put Omega’s experience on those sites.

What is currently Omega’s fastest growing market?

Switzerland is performing incredibly, it’s in the top three in Europe. After that, I’d say the United States, given its strong growth since last year, especially online. And we shouldn’t forget Macao, which is a real rising star in Asia and has turned into a holiday El Dorado for Chinese families.

What do you need now to reach the top of the podium?

Time! The fact that we’re the world number two is thanks to the huge amount of work we’ve already put in. And we have this legitimacy of tradition: this year, we’re celebrating the 70th anniversary of the Seamaster.

While we’re on the subject of legitimacy of tradition, how do you explain that two brands – Rolex and Patek Philippe – monopolise the top rankings at watch auctions, which have really boomed in recent years, even though Omega has a long heritage too?

Personally, I find that watch auctions are becoming far too much a place of speculation rather than passion... Our day will come! By contrast, I see far more sincere passion where pre-owned watches – which are very popular with the younger generations – are concerned, and the prices aren’t skyrocketing there.

We support the pre-owned market, and we’re one of the only brands in the world to do so in our price segment. For example, we never refuse to restore a watch. We return all the changed components, even if people intend to personalise their watch that way.

And nearly ten years ago, we were precursors when we opened our first Omega Vintage Boutique at Somlo in

OMEGA SEAMASTER DIVER 300M

London. We’re thinking very seriously about making that theme an integral part of our strategy.

What collections are you going to be promoting this year?

The two big themes until autumn are going to be the Seamaster 300, on the occasion of the anniversary we’ll be celebrating, but also the De Ville. Omega also has a young customer base who want a higher-end, elegant watch with diamonds. This strong demand has prompted us to create a ladies’ watch, which I would situate between the Constellation and the Seamaster.

You succeed in building strong expectations around certain limited Speedmaster editions for a limited time, like on Speedy Tuesday. Are the times when all the innovations were showcased at Baselworld well and truly over – and might that also explain the discussions about the future of the trade fair?

The world has changed, it’s more impatient and it also forgets faster. So we have to take care to reveal information at the right time, to take advantage of the emotion at that moment. We can’t achieve everything at Baselworld any more, we have to spread out introductions intelligently. That also sets us a rhythm in-house.

Improving time-to-market – that’s what my priority has been since I arrived. My ultimate dream! The case of Speedy Tuesday highlights both the passion and the impatience of our customers. Yes, we have to go faster, but no, we’re not robots. The human dimension is still important. It might be a limiting factor as far as timeto-market is concerned, but it’s essential. On the other hand, we have the very good fortune that the Swatch Group is vertically integrated. Most of our suppliers are in-house, which gives us faster response times.

On that subject, you inaugurated your new production site in Biel last year. What are the actual advantages of that?

It raised productivity – and the morale of our workforce. That’s a crucial point, because they work in a setting they’re proud of, where they feel at ease, and where the atmosphere is excellent. Having everything under the same roof, that’s the factory of the future. That will help us grow faster.

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As you said, the Swatch Group is a vertically integrated industrial power. It’s also at the cutting edge of innovation in terms of automated mechanical watch production, with the Sistem 51 by Swatch and the Swissmatic by Tissot. Is Omega going to benefit from that too?

Wait, let me emphasise one thing: today, we use automation for quality control and for analysing the finishes of our watches, but absolutely not to replace the employees who produce our watches. The act of creating a mechanical watch in our price range will remain the work of humans.

How do you function in relation to R&D? The Swatch Group is very much vertically integrated and we’ve created research units at every level. But we’re not averse to joint research with the entire sector – look at the development of silicon components, which was conducted at CSEM (Centre suisse d'électronique et de microtechnique) with resources from the Swatch Group and other major industry players.

The industry seems to be multiplying watch personalisation initiatives. And that’s also creating huge logistical challenges. What’s your approach at Omega?

One of our main efforts is focused on the choice of strap.

You’ll see it this year, especially with the NATO strap, which is very much in vogue. Personalisation has its good points, but let’s not forget that the success of a company operating in the luxury market also depends on a certain brand image. The stronger that is, the less personalisation will be necessary, if it’s possible at all.

What is the average price today at Omega?

It’s 6,000 francs and we’re a leader in the 3,000 to 8,000-franc segment. It’s in that category that our history, our legitimacy, our strength, lies. We command a huge share of that market and that’s where our ‘comfort zone’ is. You won’t see us trying to push any higher, or developing smartwatches anytime soon. In fact, I call them smart instruments, because they have no soul!

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Walter von Känel

GIVING THE ORDERS…

WALTER VON KÄNEL, CEO OF LONGINES INTERVIEW BY SERGE, PIERRE AND PHILIPPE MAILLARD

At 76, Walter von Känel still rules Longines with an iron hand.

This colourful and charismatic former Swiss army colonel is affable, but firm. "The Boss", as his troops call him, is a veteran of many battles and has succeeded in making Longines a veritable “war machine” in an affordable price segment often neglected by the upper echelons of Haute Horlogerie.

Today, Longines is on the way to achieving a turnover of 2 billion.

Who gives the orders?

The mission: occupy a territory

“When I started at Longines in 1969, the watchword was: ‘technology gives the orders, the market follows’. It took us a while to reverse this attitude.

Moreover, up to 1988, Longines was a ‘manufacture’ (although there are as many definitions of ‘manufacture’ as there are pages in the Bible!), producing in-house cases and movements, including chronographs, but no dials or hands.

When SMH (the future Swatch Group) was created, they conducted a study and took the decision to stop manufacturing movements in-house and work solely with ETA movements. Mr. Hayek Sr. had decided to make a clear distinction between the brands, the movement manufacturers and the services, such as timing (see our article about Swiss Timing on p. 40).

And let me tell you, I don’t regret it, even if it was frustrating at first. So, on 3 February 1988, I had to inform the troops that we were stopping manufacturing movements and were delegating that to ETA. Today, we’re fortunate enough to have very high-quality product development partnerships with our brothers-in-arms at ETA. So we succeeded in changing the mindset at Longines and since then, it’s the market that gives the orders, and the technology follows!”

“In 1984, Nicolas Hayek Sr. entrusted one sole and unique mission to me: ‘Walter, you’re going to be number one in your price range.’ It was clear and simple – a colonel who receives an order as simple as that needs nothing more!

As far as Swiss watch export statistics are concerned, we can measure ourselves against the rest of the field, and let me tell you, I’m perfectly happy in my price bracket! We account for more than one-third of Swiss exports in the 1,000 to 3,000-franc recommended price range. I generate two-thirds of my sales with 50 references (in terms of cases).

Last year we produced 1.5 million watches, 80% of them mechanical, divided 50-50 between men's and ladies’ models and with special emphasis on the three-hand and calendar models. Backed up by the industrial strike force of Swatch Group, Nick Hayek recently announced we were heading for the two-billion-franc turnover mark.

It’s a high-volume market. People are interested, that stands to reason… So we’ve created a ‘reception committee’ for those who come along.”

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An industrial war machine Reconnoitring in an electronic minefield “When I first started, in 1969, I was sent to the United States as an intern. After that, I was assigned to cover Japan just when quartz was developing. Watchmaking was changing, we had to react.

As regards electronic watches, in terms of batteryrun movements we used the Dynotron, and then the Mosaba, which was a tuning fork watch, in response to the Accutron by Bulova.

Sales pressure prompted the Longines team to venture into analogue quartz territory and quite rightly. In 1969, we launched the Ultra-Quartz, then we began to buy quartz movements from EM-Marin and then ETA. Quartz dominated for a time, but today it accounts for only 20% of our production.

We launched our own counter-offensive and were precursors with the V.H.P., which performed better than the traditional quartz – and which we re-issued just last year.”

Basic infantry division “As regards mechanical watches, we had a handful of very powerful in-house movements, which were transferred to ETA. That soon gave us the advantage of being able to invest strongly in brand recognition and the end product, unlike other brands.

And thanks to our excellent relationship with ETA, we developed two movements specifically for the highvolume market, one men's and one ladies’. They’re our basic infantry division!

For the men’s watch movement, we started with the ETA 2892A2, which at Longines became the A31. Its performance reflects the evolution in component production. For example, in the Record collection, the A31 exists in a silicon and COSC version.

The ladies’ movement accounts for around 50% of our automatic watches. Historically, it was the ETA 2000/1, a small round-diameter calibre (diameter 19.4mm, thickness 3.60mm) that allowed us, combined with other improvements, to make 25.5mm watches, which we improved by making it 0.5mm thicker. That became our A20 and it’s a very important product.

All that is done in dedicated ETA workshops on our own premises: 250 people work there.”

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“The degree of automation of our production lines depends on the component. If you’re talking about high-volume movements, it’s incredible how many ETA is capable of producing. The model most emblematic of this industrial strength has to be the Sistem51

by Swatch. And I’m very glad that the group is helping automate or mechanise calibre production.

Even so, for a calibre as sensitive as the ladies’ model, I’m impressed by the production lines. For example, you don’t get the glitches you used to see in the oiling operations, which were caused by human error.

And then it’s impressive to see how the case manufacturers have evolved. I do a tour of our suppliers every month. The performance of the new generation of the CNC machines that do 20-30 operations is beyond belief. Hand production is also largely automated now, but much less so the dials. And where machines haven’t been able to replace the human hand is in polishing, especially the cases and bracelets.”

The battleground of customer service “Given the volumes we produce, I’m very committed to customer service. It’s very highly developed at Longines. I always say that’s the best publicity we could have, and the cheapest. Today, news of bad customer service gets around; on social media that kind of information spreads like wildfire.

All the customer service on the basic calibres is done either in our workshops at St-Imier or directly in the 37 branches of the Swatch Group all over the world. The level after that is the retailers. The best ones are approved for customer service and can request components. We also have a special Heritage workshop where we do all the customer service for watches produced during Longines’ in-house manufacture period, up to 1988.

The Swatch Group has made a great leap forward in customer service in terms of quality and effectiveness, including making reception premises, more welcoming.

But the public enemy number one of watches today is magnetism. I’m certain we’re going to make a big hit with the VHP that's highly resistant to magnetism. The watch will stop if you enter a magnetic zone and automatically catches up the lost time.”

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Blasting the parallel market “As for e-commerce, we’ve just opened our own site in China, after the one in the USA. We also sell at the same prices, without discount, on e-commerce platforms. We started last year with TMall, a subsidiary of Alibaba. If it’s not the official price, we don’t sell!

In Beijing, I met the director of TMall, which also sells on the parallel market. But we’re fighting the parallel market, that’s my personal war! I recently blasted parallel market players in Italy, Germany and Austria. And in terms of volume we’re not talking peanuts, let me tell you. We’re also putting pressure on TMall to curb the parallel market.

Since 1867, all our watches have had a personalised reference number on the back of the case, so we have traceability throughout our entire network. I know immediately who I sold each model to. Our subsidiaries have the obligation of recording the reference numbers of watches they sell to retailers. We have to cut off supplies to retailers who feed those markets!

We recently seized a huge haul of watches on the parallel market thanks to the Chinese customs. We have very good relations with them, which means we can trace back the supply lines. We do the same with counterfeit watches. We produce huge quantities and unfortunately, that attracts parallel marketeers or counterfeiters. It’s the price of success.”

Walking pace in China “We’ve been present in China for a century and a half. It’s a significant market for us and one that’s still growing.

To balance our markets, we have to make more effort to promote and distribute our watches in Europe and the United States. But they’re very competitive markets.

Luckily, we haven’t had any problems of surplus stocks.

Every morning, I receive the lists of sales by reference and country. I can still look myself in the face!”

Obedient soldiers at Baselworld “My first Baselworld was in 1969. In the Swatch Group, we decided that the Baselworld question should be decided by HQ. And we’re obedient soldiers who do as we’re told.

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THE LONGINES LEGEND DIVER WATCH

What counts for us at Baselword is the retailers. And it’s a pity that the larger retailers have to come to Switzerland twice because of the different dates of the Geneva and Basel trade fairs. Having said that, we’ve always done well at Basel, but I never show a watch there that isn’t already in production. I have to deliver the same year... Basel is also the first litmus test to see whether what we’ve put in the pipeline is relevant.”

Keep soldiering on!

“This year, we’re making a special effort to consolidate the V.H.P. and Record collections we introduced last year. So we’re launching a Chrono V.H.P. Conquest and a Record model in stainless steel and gold.

In 2018, Longines has got off to an extraordinary start.

In January I nearly fell off my chair, let me tell you. And more and more information is coming in suggesting that Longines would now be the third largest Swiss watch brand in the world (consolidated turnover). 2018 has got off to a good start for everybody and for the Swatch Group even better.

But so far, the best year in our history was still 2014.”

Already in 1977, Walter von Känel was featured in Europa Star (September-October 1977).

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Sports timekeeping, part II

SWISS TIMING

A VIEW OF THE SLOPES

BY SERGE MAILLARD

After following up on the use of Seiko equipment at the World Athletics Championships in London last year, Europa Star had the opportunity to visit another prominent sports timing brand, the world leader Swiss Timing. This Swatch Group company was in the front lines at the recent Winter Olympics in Pyeongchang, South Korea. Omega, Longines and Tissot are its principal "clients".

2

30 tons of equipment, 300 timers, and the assistance of 350 volunteers. Omega's figures for the coordination of the Winter Olympics in Pyeongchang this February, of which the Swiss brand was the official timekeeper, are endlessly impressive.

Behind this infrastructure, as behind the scenes of athletics meetings, skiing world cups, Blancpain GT Series automobile competitions, Six Nations Rugby Championships, Tour de France bike races, or the NBA games sponsored by Tissot – or even the prestigious CIS equestrian competitions supported by Longines throughout the world – you'll find the same Swatch Group company: Swiss Timing, world leader of sports timing. You will almost never see its name take centre stage. But backstage, the brand is intensely active.

In February, Europa Star had the chance to visit the brand's premises in Corgémont, in the Bernese Jura.

It was quiet, since most of the employees were still in South Korea. Founded in 1972 in order for Longines and Omega to join forces in sports timing, then grouped together under one roof in 1988 by Nicolas Hayek Sr., the company has its work cut out for it, since the Olympics equipment is under warranty until... 2032!

Sensors up close and personal The company, which employs more than 400 people on three sites in Switzerland and Europe, can time athletes' performances in no fewer than 135 athletic disciplines. One of the true changes of direction in its history was the appearance of the transponder (which emits signals from precise geographic points) marking the transition from the human hand to the machine and making it possible to provide increasingly precise data.

Time measurement continues to progress each year.

Several innovations marked the recent Olympic Games in South Korea, which Omega "covered" for the 28th time in its history, beginning with Los Angeles in 1932 (for which thirty of the brand's stopwatches were sent to the United States and provided to the judges there).

It is worth mentioning two innovations in South Korea which illustrate the power of Swiss Timing.

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During the ice hockey competition, each player's back was equipped with a movement sensor which registered data and information in real time that could instantly be sent to television viewers or used subsequently for post-game analyses. Even the referee was equipped with a whistle detection system that enabled him or her to communicate with the timing station through a microphone in order to stop the watch as soon as the whistle was blown (making it possible to save at least half a minute compared to the performance of manual timers).

For the ski jumping competition, movement sensors were installed on the athletes' skis, directly registering the speed of each participant during the run, upon lift-off, at 20 metres, and upon landing. The system made it possible to measure various jumping techniques, right down to the angles formed by the athletes' skis. This data has quickly become essential, not only for the spectators, in the form of times and graphics displayed on the screen, but also to the athletes themselves and their coaches, since it can enable them to improve their performances.

Who does athletic performance data belong to?

One of the hot topics of the moment specifically concerns the "intellectual property" of the data gathered by an official timer.

For the time being, the rules – where there are any – are not uniform. However, selling data is part of Swiss Timing business model. For example, during Blancpain GT Series automobile competitions, the SRO race organiser provides the data gathered to the teams and car manufacturers. This is part of a general service included in the participants' registration.

Today's coaches and public are clamouring for an increasing amount of statistics. The phenomenon makes itself felt to the point where, in the stadium, an increasing number of spectators appear to be captivated by their smartphone screens rather than directly watching the competition itself...

Swiss Timing also sells equipment to third parties, from photo-finish cameras to photoelectric cells to fully equipped swimming pools.

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The secrets of the photo finish The precision offered by Swiss Timing now reaches 10/1000 of a second; but the times measured depend on the regulations of the partner federations. Thus in road biking, time is measured to the second, while in speedway biking it is measured to 1/1000 of a second.

The famous "photo finish" is probably one of the bestknown services offered by the company, and one that keeps spectators holding their breath. Photoelectric cells placed on the finish line provide the result, which is instantly displayed on the stadium and television screens. But only the image of the photo finish provides the official time, and only the judges are qualified to establish the final result, which can lead to slight corrections being made to the time measured by the cells.

Indeed, the official time is measured by a camera filming a "line" of 3 mm along the precise finish. Moreover, a chip (generally the same size as a stamp) installed in the bib of each athlete gives the order in which each one crosses the finish line, for added security.

However, in certain trials, it has happened that despite precision to 1/1000 of a second, it remained impossible to decide which athlete was the winner!

The question is, where on the athlete's body to place the photo finish cursor? It depends on the discipline: the torso for the 100-metre sprinter, the tip of the shoe for the long-distance runner, the top of the skate blade for the speed skater, and so on. Each federation has its own rule.

Foremost Swiss ambassador?

Even more than the watches that we admire on the wrists of stars, the timing of competitions followed by millions of spectators throughout the world offers incredible visibility to Swiss watchmaking.

However, strict rules regulate logo displays: at the Olympic Games, the IOC sets the quotas of logo identification that will be shown on television per day and per sport. The height of the Omega logos on the instruments or screens in the stadium leaves nothing to chance, either: the logo may not exceed one-tenth of the total height of the object in question, for a maximum of 10 cm.

The only element that has not changed since the first Olympic Games of modern times, held in Athens in 1896, is the bell indicating the last lap. A bell, as Swiss as it gets!

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Jean-Christophe Babin

“TODAY’S VINTAGE IS THE STYLE OF

PEOPLE WHO HAVE NO IDEAS OF THEIR OWN”

INTERVIEW BY SERGE MAILLARD AND ASHKHEN LONGET

With one foot in jewellery and the other in watches, Bulgari’s CEO Jean-Christophe Babin interprets the radical changes taking place in the industry with a sharp eye. Since this time our folio is devoted to the disruptions currently facing the watchmaking industry, we thought it only logical to look at where the future is leading – between 3D production, digitalisation and omni-channel sales.

At Europa Star we’ve compiled a folio of 12 fundamental disruptions affecting the watchmaking industry and its future. We’re not going to ask you to find as many, but if we asked you to identify any waves of change that are likely to overtake the industry…

I’d mention three!

First of all, we shouldn't underestimate the capabilities of 3D production, which is set to challenge traditional manufacturing production, especially of watch cases. Current manufacturers are advised to think very seriously about it. 3D allows you to design very light structures with great flexibility. That is going to transform the whole appearance of watches. We already produce jewellery using 3D. Another wave of change is the digitalisation of the world of luxury – including watches. Today, there’s nothing really conclusive in the way of digital watches, even if genuine watch brands like TAG Heuer, Frédérique Constant and Montblanc are also

making smartwatches. In my view, the overall offering has expanded, with 15 million Apple Watches sold every year, but that’s ‘on top’. Even at Bulgari we're continuing our projects for secure wearable devices with our partner Wisekey, but we’re waiting for a standard bank protocol for e-payment.

The third aspect I’d like to highlight is omni-channel retail, with the idea that brands can at last go back to making direct contact with the end customer. This direct contact had vanished, but it did exist during the first generation of industrial watchmaking, into the 1930s. After that, the brands became international, used intermediaries and lost this direct link. But at the same time, it means they’re going to have to cope with potentially losing control of their exclusivity through the new digital sales platforms.

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BULGARI OCTO L’ORIGINALE

According to management consultants Bain, online sales of luxury products will have levelled out at 25% by 2025. What does Bulgari actually sell online today?

Very little. We only have online sales platforms in four countries (China, Japan, US, UK). So the market is partially covered, and only recently. Secondly, watches aren’t made for selling solely online, because the aspect of trying the product on is still important. Most customers need to see the watch for themselves, they come to the boutique, make their choice, and after that they may finalise the purchase online. That’s why you can’t talk of ‘purely’ online sales.

In China, Longines has announced a partnership with Tmall. Is Bulgari already present on these platforms, or is it about to be?

Bulgari is a brand that seeks a certain exclusivity, so we're cautious about these mass sales platforms. We don’t need hundreds of millions of potential customers. A few thousand suffice!

How do you manage the customer data you gather via your online and offline platforms?

Bulgari sells tens of thousands of watches a year, but we also sell perfumes to millions of customers. So we have a ‘staircase’ starting with more accessible prod48

ucts, like perfumes and accessories, and moving up towards watches and jewellery. That also means that the brand has a slew of data today, even though its ambition is only to sell tens of thousands of watches. The pool we already have, and that we generate every year, is dynamic, and more than enough in relation to our watch-selling ambitions.

In the press releases we’re receiving in the run-up to Baselworld, we’re seeing two trends: a downsizing of dimensions, and vintage. But at Bulgari, the design seems to be more futuristic than vintage...

The advantage of Bulgari is that we are real watchmakers, we don’t mess around with copying. Today’s vintage really is the style of people who have no ideas of their own.

We’re lucky: our watchmaking past doesn’t stretch back very far – the Bulgari Roma was created in 1975 – so we have to look towards the future. That’s what prompted us to make Octo, Serpenti (created in 2010 and nothing to do with the jewellery Serpenti of 1940-1960), and Lucea in 2014. It’s true that we’re more excited by the idea of expressing ourselves in a dynamic way, rather than picking up historic codes and revamping them all the time.

Ah, I've just thought of a fourth disruption that you can note down: Daniel Wellington, it’s a brand which is a disruption in itself, since it was created online and has been a huge hit with millennials, with its neoclassical associations, its flat, gilded case and fancy strap. It’s the first watch brand to make a massive breakthrough with millennials, with prices in the 250-CHF range.

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Jérôme Biard

“THE INTERNET IS GOING TO ALLOW CORUM TO FILTER

ITS REAL PARTNERS”

INTERVIEW BY ASHKHEN LONGET

Jérôme Biard, the new CEO of Corum and Eterna, explains the mission entrusted to him, centred on Golden Bridge, Admiral, and a “return to common sense” for a brand that has experienced upheavals during the past decade.

You took the helm of Corum and Eterna in August 2017. What conclusions have you drawn in the meantime? Some sources are saying that the brand made a profit in 2016 for the first time in ten years, with sales of over 50 million francs...

We’re not very generous with figures because we’re owned by a group that’s listed on the stock exchange.

But to give you an idea, we produced 10,000 items in 2017. For us, the year ended with sales slightly down on 2016, which means we’re not yet making a profit. The mission entrusted to me is precisely that: to restore Corum’s financial health, which means achieving at least break-even point and starting to build profits. I believe that will be feasible in 2019.

What are your key business strategies for 2018?

For us, they’re clear: refocusing our attention on our two product families, Golden Bridge, which today remains our greatest source of income, and Admiral. Of course, Bubble is our most crazily creative collection, but we have to produce it in more reasonable quantities. We’ve also decided that we would only present some of our innovations at Baselworld.

Are you considering opening new outlets and starting new partnerships with retailers?

Today, there’s a general tendency to curb the number of outlets worldwide; to be more exclusive, rarer, and above all to have reliable partners. We’re going to follow that trend. On the other hand, we’re in the process of reviving markets that are extremely important to us, such as Japan, where we already had some very encouraging initial signs in 2017. The other country we’re going to be focusing on is the United States, where Corum was very strong historically. We’d like to work in that difficult region again. And lastly, Europe, where we still have too little visibility for the moment.

What about synergy with Eterna, where you’ve also taken up the reins? And with Eterna Movement, the movement manufacturer?

We use lots of Eterna movements for the Bubble and Admiral Squelette collections. But we’re two completely different brands and we want to stay that way, even if we’ve pooled lots of resources, such as in logistics, marketing and finances. The Eterna brand 51

has suffered a lot, it almost went out of business. Our priority now is to bring it back onto the straight and narrow, but gently. For Eterna, we have an extremely limited strategy in terms of the number of references, and it’s focused on KonTiki.

What are your avenues for product development in 2018?

Playing with the most iconic products – we’re fortunate enough to have lots of them. The most emblematic is the Coin Watch. It’s very contemporary, we’ve even managed to create a Bitcoin watch. I’d like to cultivate the notion of eclecticism and work on very different collections.

And what’s your strategy with regard to digitisation?

We launched our new website in mid-February 2018 and the high point is the opening of our e-boutique in mid-March. We’re convinced it will work, because people like buying over the internet, and also, we want to talk directly with our end customers. A company like us, which produces 10,000 watches a year, needs to know its customers inside out.

But isn’t opening an e-boutique going to create conflict with your retailers?

Our policy is one of retailer reward. If we feel that certain retailers have an important role to play and customers write to them, visit their boutique, and see them as a serious partner, they will evidently benefit from purchases from the e-boutique. But if we see that our brand isn’t doing any business there, we’ll take a tougher stance. Ultimately, it will be a means of filtering the real partners from the “non-partners”. Of course, we’re going to protect the retailers by giving them exclusivity over certain references. What we’re going to be extremely touchy about is price control.

We don’t want the internet to be synonymous with discount.

In fact you’ve cancelled your partnership with Amazon...

Yes, that was my first decision on arriving at Corum.

And if you could only keep one new model?

I’d like people to remember the Golden Bridge that was developed with the musician Joachim Horsley and decorated with an extract from the original score of Beethoven’s 7th Symphony. It’s a magnificent timepiece that’s paving the way to other, more poetic ideas. We’re going to offer our customers a personalisation service for this model. It’s a whole new phase in Corum’s development.

CORUM GOLDEN BRIDGE JOACHIM HORSLEY 52

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Shigenori Itoh

“STRENGTHENING

THE APPEAL OF G-SHOCK FOR MATURE BUYERS” INTERVIEW BY SERGE MAILLARD

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G-Shock is 35 years old in 2018. Among the most striking anniversary models that Casio has launched this year are the Red Out, the Gold Tornado, the Big Bang Black and the partnerships with artist Eric Haze, fashion designer NIGO and fashion brands Pigalle and Sankuanz.

We interviewed Shigenori Itoh, Casio’s senior executive managing officer and senior general manager of global marketing, who has led worldwide sales operations for all products since 2016.

What are the main goals of your anniversary celebration?

One of them is to reach out to younger generations, as we always create our watches taking into consideration the latest world trends. Like music, sports and fashion, our creations continue to appeal to youth culture.

Younger buyers can obtain some of our watches at an affordable price. Also, more and more, they get their information through word of mouth on social media.

We have to be present on these platforms.

Beyond the younger generations, one of your goals is also to push forward the Premium G-Shock models. How far along are you with this strategy today, and how do you intend to implement it?

Indeed, for 35 years, G-Shock has always grown in line with the younger generation. But our original fans have also grown up and become adults, just like our brand! Our mission now is to strengthen the appeal of our watches with mature buyers. And also with people who are not yet owners of a G-Shock. We will achieve this by promoting our higher-end product ranges.

There has been a strong vintage trend these last few years, with younger generations looking for products from the 1960s, the 1970s and the 1980s.

How do you integrate this trend into your strategy?

Our contribution to the watch market has always been to create timepieces that become “essential” in

CASIO G-SHOCK RED OUT

any given period of our history. We see differences by geographic area, but it is true that young people are attracted by vintage models. Thus I am already in the process of organising the revival of timepieces in a more contemporary style.

At the same time, we see a lot of smartwatches on the wrists of younger urban populations. What is your strategy relative to the connection with the G-Shock?

Today, most smartwatches are produced by companies active in the smartphone market. Looking at their products, we do not see a clear use or application. We do produce smartwatches at Casio, but these are really focused on outdoor applications, with a real use benefit for the buyer.

A look into the future… Where do you see the G-Shock in 35 years, in 2053? What will it look like?

G-Shock is the strongest and most famous brand among Casio’s ranges of timepieces. One important policy consists in strengthening the unique identity of the G-Shock brand. Another aims at continually increasing the functionality of our models, in the Casio spirit, which will eventually benefit the whole watch ecosystem. And speaking personally, I hope that we will see a G-Shock used in space in the future!

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RJ-Romain Jerome

MARCO TEDESCHI

MILLENNIAL BOSS

INTERVIEW BY SERGE MAILLARD

At the age of 32, Hublot's former regional manager for the Middle East is taking the reins of the unconventional brand RJ-Romain Jerome, with the intention of developing a core collection for the brand best known for its limited series and partnerships with household names such as Titanic or Batman.

THE OBJECT: AN RX100V CAMERA Marco Tedeschi has three passions: watchmaking, travel and... photography. He uses a Sony RX100V camera: one that is "very compact, with almost all the qualities of an SLR.". Marco Tedeschi is very active on social networks. He began taking pictures landscapes, and more recently went into portraits. Today, he's doing a lot of product photography. Time will tell whether he will also be responsible for the brand's photos…

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At just 32, Marco Tedeschi is probably one of the youngest directors in the watchmaking world today. However, he already has eleven years of accomplished experience gained at Hublot, where he became a member of the executive committee at the age of 22. "I have been fortunate to always have worked with visionaries who consider that age is just a number," he says. Indeed, at Hublot, Marco Tedeschi initially worked as a product manager for nearly five years before being named regional director of the Middle East and Africa.

A young director, then, for a brand that is very young at heart, with a clientele in turn just as young as – or younger than – the new head of the company. His principal aim is to build the company a backbone: the first RJ core collection. The brand currently produces some thousand pieces per year. Ideally, he also aims to develop the brand in Switzerland and the Middle East, two markets that he knows well.

Photograph: Fabien Scotti | Arcade Europa Star

HIS CAREER: A VERY EARLY START After eleven years with Hublot, you are still in the ultra-contemporary world with RJ. However, you are leaving a big company for one that's more like a start-up…

Truthfully, I am quite familiar with the spirit of small organisations, since when I got my start at Hublot, there were just 40 employees (editor's note: there are more than 500 today), including the production staff, so it was the size of a start-up, too.

How did that come to pass?

When Jean-Claude Biver recruited me, I had not yet graduated from engineering school. During my second year, I developed a single-axis watch movement concept. I patented the model, and then I went to present it to Mr Biver, who wished to hire me immediately following our interview!

Sounds like Biver all right...

I could not refuse such an offer, but I really wanted to finish my studies. I began working at Hublot six months later.

Was the movement that you developed during your studies ever used?

In the end, it was not. But I was fortunate to join a brand with the ambition of creating in-house movements. In this context, I created a technical office. After working for several years in the design and product department, I was promoted to regional director of the Middle East and Africa in 2011. With these new responsibilities, I discovered a new facet of the industry.

Within six years, the subsidiary managed to double its turnover, namely through the opening of a number of points of sale and precisely targeted marketing actions such as the creation of an Instagram account in Arabic to appeal to the local culture. We were the first luxury company to do such a thing.

Which brings us to another subject: the owners of RJ are Saudis. Was your knowledge of the Arab world one of the key factors in your appointment?

It probably helped, yes. I think that my product expertise and the diversity of my career – including key positions involving products, sales and marketing – were determining criteria.

HIS MISSION: RJ'S THIRD ERA The brand has gone through two very distinct periods. The first – Steampunk – era of Yvan Arpa, focusing on the integration of "raw" materials with the Titanic model; and that of Manuel Emch, bringing in Pop Art through a number of collaborations with leaders in the entertainment industry. These two identities coexist within RJ. How are you going to manage them?

We are going to maintain them. We have a loyal client base with certain collectors who, today, possess more than a dozen pieces each. I have been following the brand since its beginnings, and I appreciate its unconventional side compared to other watchmakers. In my view, the Titanic model truly represents the brand's DNA, with its side prongs, arrow-shaped hands and very characteristic horn shape.

STEAMPUNK TOURBILLON TITANIC 58

er we will enrich the collections with animations and complications. One of my first decisions, in fact, was to place a new director in charge of the product department: a movement specialist who has worked at Vacheron Constantin, Roger Dubuis and Hysek. We are planning on launching our first module in 2019 and a first in-house movement in 2020. It is essential to create an in-house movement in order to develop our creativity. And this approach is even more important in view of the current context.

HIS PARTNERS: SPECIALISED RETAILERS AND CONCEPT STORES RJ has two particularly strong markets: Mexico and Japan. Which market are you aiming for with this new collection?

RJ X HELLO KITTY SPARKLE

However, the brand lacks a core collection, since every piece produced until now has been in a limited series. The brand has established many partnerships, but it has not built a "backbone". The new collection presented at Baselworld, on which I have been working assiduously since my arrival, will form the basis for future developments.

Today, the collections are very disparate, from the very manly Titanic to the exceedingly "kawaii" Hello Kitty watch.

Hello Kitty was the first collection exclusively produced for women, so the spirit is inevitably different.

And it is precisely because of this difference that it is important to create a basic model from which the company can develop. We are presenting a men's collection as well as a women's collection with more modest dimensions, although these days we don't really talk about "men's sizes" and "women's sizes".

Limited series or partnerships generally translate into high prices. Will your new collection be more affordable?

The low end of this new collection will be sold at under 10,000 francs, whereas the average price today is somewhere between 15,000 and 20,000 francs. We are going to begin with chronograph functions, and lat60

Our principal mission in 2018, of course, is to continue to maintain our two leading markets. However, we would like to reinforce our presence in the Middle East, a market that I am very familiar with, and in which I have managed to establish good contacts. In fact, I found some of my former clients at RJ. In parallel, the objective is to develop the markets in Switzerland and Europe, because if we hope to have a strong presence throughout the world, we need to start with strength at home.

We are also investing in e-commerce. Nevertheless, retailers still play an important role for us, since they have in-depth knowledge of the local clientèle. And that is why, with the downturn in the watchmaking market, some – like Ahmed Seddiqi & Sons – proved more resilient than single-brand retailers.

What would the ideal partners be for an atypical brand such as RJ? Above all, we wish to reinforce our relations with respectful, innovative, solid retailers. We also wish to increase our presence through concept stores, which are perfectly suited to RJ, and through brands whose clientele does not necessarily correspond with that of traditional watch boutiques. For example, we were present at Colette until last December, when the store closed down. It is also essential to seek out the direct client through a variety of channels, such as collectors' dinners, in order to form a local community of specialised aficionados over the long term.

Opinions

Episode 4

SWISS MADE:

“AN INCONVENIENT TRUTH”

JÉRÉMIE SENGGEN and the team of watch startup Montfort

“

If you boil down the debate between the advocates and the detractors of the new Swiss made law down to its most essential element, it can be summarised in one word – trust.

The question that led to this whole debate was “can, in this day and age, the consumer at large, continue to trust the world renowned ‘Swiss made’ label when it comes to watches?” What is clear is that for the past 40 years, the Swiss watch brands have cultivated a deceptively mystical image of the industry as one

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run by small ateliers making watches by hand like we used to do centuries ago, and that’s what justifies sometimes ridiculous prices for these watches.

Don’t get us wrong, that ‘haute horology’ still exists. Some specially commissioned and high-end watches are still made that way – but even the heavyweights have moved on to huge manufacturing war machines that churn out millions of watches a year. That doesn’t happen in an Alpine shack anymore – it hasn’t done for a while.

To be thorough, we have to nuance the Swiss made label; not every Swiss watch brand is taking advantage of the ‘holes’ in the Swiss made bill: some, actually, manufacture every single part in Switzerland.

Some are content with assembling a Chinese made case with a Swiss made movement (and even then it only needs to have 60% of its value-add done in Switzerland). The reality of the matter is that under this umbrella label that is ‘Swiss made’, there are many ‘Swiss mades’.

There are the 60% guys who are usually entry/mid level products, the 80% brands that are doing all the movement work in Switzerland because that’s where the most expertise still exists, and there are the 100% advocates that make it a point to do everything in Switzerland. To the outside world all these ‘versions’ of Swiss made exist under one label and hence the inconvenient truth – not all Swiss made’s are equal.

But, before we start to judge, let’s take a step back and they all benefit from the excellence of German engisee what’s happening here. In the late 1960’s the Swiss neering and the marketing benefits that that gives watch industry was under siege. The threat, at the the brands. time, was coming from the Far East. In Japan, Seiko The parallels with the watch industry are evident. had taken the Swiss invention of the quartz movement Today some brands have optimised their supply chains and started selling it to the masses. By the 1970’s, the to bring high quality watches to market under the crisis was getting so bad that watch industry jobs were Swiss made label at affordable prices. Ideation, design, declining rapidly and the government had to react. coordination is all orchestrated from Switzerland and One of the solutions was the Swiss government giv- in many cases a vast majority of parts are even made ing Swiss brands the ability to compete with its Asian and assembled in Switzerland, but some choose to counterparts by building factories in South-East Asia use CMO’s in the Far East to make certain parts of the – they set their sights on Hong Kong watches because these suppliers were and Singapore. The Swiss ministry “We live in the age of the trained by the Swiss, use Swiss technolof foreign affairs sent delegations of internet where specialist ogy but costs are lower. Is that wrong? engineers, technicians and industry Misleading? Maybe. Some consumers blogs will investigate professionals to Asia to build new, ulmay care, others won’t. Strengthening tra-modern factories with a complete matters to the extent the Swiss made, in our view, was and transfer of know-how. This gave the of asking brands to is a good thing – it consolidates any industry a way to source parts (espe- justify themselves on doubt there may have been that any cially watch cases) at a fraction of the product that has the words ‘Swiss made’ pricing, provenance and prices in Switzerland but with the on them are predominantly Swiss by quality requirements of Switzerland. value of their goods.” design.

A lot of the hardware manufacturers In the case of Montfort, it was clear that are making your iPhones and Samsungs today that for a young brand to succeed in this day and age probably started out making Swiss watches – the Swiss we needed to differentiate ourselves – and we wanted taught China to make micromechanical parts reliable to do so by giving our customers true added value – and make them look good – this is the foundation for not just a new design. The technologies we selected almost any consumer product today. to achieve this manifesto were not readily available Fast forward to 2013 and all branches of the Swiss in- in Switzerland; the hardening of our cases is done in dustry (watches included) pushed for the Swiss made Denmark, the 3D printed dials are done in Sweden – laws to be reinforced – to protect workforce but also achieving 100% Swiss made was impossible for us. That to protect the value of the Swiss made brand – which said, we also wanted our watches to be somewhat afis an undeniable marketing advantage. So, the change fordable so even if we could, would 100% Swiss be came from within, brands knew they needed to fur- plausible for our price range currently? ther legitimise the label.

The fact of the matter is the Swiss made label encomFor Montfort, our choice was evident from the start. passes a multitude of brands that all have different We were born here, we grew up here, a lot of who we brand strategies and price points. How they choose to are is a result of the principles that guide our indus- interpret the law governing the use of Swiss made is try – so we knew straight away that we wanted to stand up to them. We live in the age of the internet where up for something. We couldn’t name our brand after specialist blogs will investigate matters to the extent a Swiss mountain and not have a Swiss made brand! of asking brands to justify themselves on pricing, Mercedes, BMW and Audi all surf on the fact that they provenance and value of their goods. How comfortaare German cars. Like Switzerland, Germany is seen as ble brands are with replying the truth, no matter how an industrialised country that inconvenient, is how they – usually – choose to interbuilds high quality goods. pret Swiss made. At the end of the day consumers are However, no German car to- buying quality, a design and an experience – not only day has all of its parts made geography.” in Germany, some aren’t even assembled in the country – yet More on the question of “Swiss made” with another opinion in the next issue of Europa Star!

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RECOMMENDED READING

BY FABRICE MUGNIER, WATCHPRINT.COM

Longines Legendary Watches

by John Goldberger

You can order this book directly on watchprint.com or at the Europa Star booth and library at Baselworld (at the entrance Hall 2.0) 66

John Goldberger illustrates in this book what he considers to be the most interesting examples ever produced by the St-Imier company. Two hundred seventy examples, traced back through time thanks to painstaking research, with the collaboration of Longines Brand Heritage Department and of some of the most renowned collectors in the world, photographed to show the characteristics of the movement, case and dial of each example in the best possible way.

A detailed research to discover the most beautiful and rarest examples of Longines watches manufactured in the past century.

A journey in the quintessence of the Longines spirit. Over 1500 high definition colour illustrations and descriptions provide the collector and watch enthusiast with invaluable and rare informations on case reference numbers, dials, movements, related calibers and the year of production of each watch. A truly fascinating journey to dive in the histories of these amazing timepieces. Publication date: March 2018.

600 pages • 1500 photos • Size: 25 x 32 cm • Price: CHF 350.00 • € 330.00

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Flightmaster Only, The Omega pilot’s watch

by Grégoire Rossier and Anthony Marquié

You can order this book directly on watchprint.com or at the Europa Star booth and library at Baselworld (at the entrance Hall 2.0) 68

The highly evocative Flightmaster name was first mentioned by Omega in 1956-57, but it was not until the late 1960s that it was used to designate an incomparable watch, initially intended for aircraft pilots. At the time, it was regarded as the watch industry equivalent of the Swiss army knife, meaning the ultimate professional instrument.

The aesthetically and technically remarkable Omega Flightmaster symbolizes a period rich in technological and design breakthroughs.

Produced over a short period and relatively little known until now, it nonetheless enjoyed exceptional development and an outstanding destiny, notably on the wrist of Soviet cosmonauts in the 1970s.

The authors of the successful MOONWATCH ONLY book dedicated to the Omega Speedmaster provide a comprehensive account of the many variations and evolutions of the different Flightmaster models, based on their original methodology. They reveal for the first time an entirely unknown and remarkably rich story.

FLIGHTMASTER ONLY is intended to serve as a reference work for all passionate enthusiasts and collectors of the Omega brand. Publication Date: March 22nd, 2018.

224 pages • 448 illustrations • Size: 25 x 30.7 cm • Price: CHF 180.00 • € 175.00

Tribute to the 1964 “French Navy” Grands Fonds

Z RC G E N È V E S A 15 rue du 3 1 déc embr e - 12 0 4 G enè ve S u i sse - + 41 76 3 1 0 49 0 4 - co n t a ct @ z rc1 9 0 4. ch zrc1904.ch •

zrc1904

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Bijouterie JUNOD : Place St-François - CH-1003 Lausanne / La maison de l’horlogerie : 24 Rue du cendrier - CH-1201 Genève / Uhrsachen AG : Kramgasse 19 - CH-3011 Bern

Portfolio

BASEL 2018 Fewer brands at Baselworld this year doesn’t mean there’s less choice.

Despite being rocked by a number of ongoing upheavals (read our special dossier on this subject in the Business folio of this magazine), the watch industry still offers a vast palette of products. Creativity is alive and kicking, in every field. There’s something for every taste, whether you’re looking for a classic dress watch, something a bit bling-bling, or a more minimalist number; a jewellery watch or a tool watch; a brightly coloured timepiece or a toned-down ticker; mechanical or quartz (yes, they still exist), or even a smartwatch.

The current market nevertheless has two salient features: sizes are shrinking, and vintage inspiration remains omnipresent.

Here’s a modest selection.

Bulgari Serpenti Tubogas 70

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Glashütte Original Senator Chronograph – the Capital Edition Launched during the 68th Berlin International Film Festival, the Senator Chronograph – The Capital Edition – gives the Senator Chronograph Panorama Date a striking new look. The dials, with beige, white and blue details, appeal with their specially developed shades “Bourbon Grey” for the models in stainless steel and red gold, and “Dry Silver” for the strictly limited platinum version. This flyback chronograph is equipped with the 4 Hertz Calibre 37 automatic movement and column wheel mechanism.

Oris Carl Brashear Chronograph Limited Edition Defying racial tensions, disability and the weight of history, Carl Brashear became the U.S. Navy’s first African American and first amputee Master Diver. Oris presents the second limited edition watch made in his memory, a bronze-cased, two counter chronograph. Inside the watch is the Oris Calibre 771, a special movement with a two-counter chronograph and a 48-hour power reserve.

It’s based on Sellita’s SW 510 and appears in the Oris collection for the first time. The dial’s balanced, symmetrical layout is known as ‘bicompax’ and gives the watch its classic chronograph look, which is further enhanced by the absence of a date indicator.

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Breitling Navitimer 8 The new Navitimer 8 family resurrects some of the design values of the Huit Aviation Department’s onboard clocks – especially in terms of the dials and bezels – as well as Breitling’s iconic pilot’s watch, Reference 768, with the rotating bezel and distinctive triangular pointer that made it a favourite among pilots. The collection comprises five new models: Navitimer 8 B01, Navitimer Unitime, Navitimer 8 Chronograph, Navitimer 8 Day & Date and Navitimer 8 Automatic.

Bell & Ross BR V2-92 and BR V2-94 Steel Heritage Since 2009, Bell & Ross has paid tribute to pocket watches from the Great War and flight instruments from the 1940s.

Today, the Heritage collection is entering its third generation. Inspired by instrument panels from 1960s aircraft, the BR V2-92 and BR V2-94 Steel Heritage cultivate a resolutely retro look. Polished/satin-finished steel case with a slightly smaller diameter of 41 mm, push-buttons and a screwdown crown to reinforce the water-resistance of the case, rounded lugs that match the new metal bracelet with fine links to ensure it sits comfortably on any wrist, and a sapphire crystal with an ultra-curved finish to evoke the style of vintage watches.

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Lundis Bleus 1100-OX “Onyx�

The plain and highly polished black onyx used for the dial gives the whole watch an eye-catching, intense and surreal feeling.

The basin-shaped case band design is extended by the radius of the box type crystal on the top and the radius of the case back at the bottom. The lugs, which are a part of the case back and therefore visibly separated from the case band, enhance the basin-shaped design with their subtly curvaceous visual effect. The logo on the case back is emphasised by the inner crystal, giving a stained glass feel to it. Japanese Miyota 9015 movement, automatic unidirectional winding.

Junghans “max bill line” True to the premise of “form follows function”, the artist and Bauhaus alumnus Max Bill created a special kind of timepiece.

The logical dial layout of the 1956 kitchen clock, which made design history as the Max Bill wall clock, became the characteristic feature of his timepieces and was incorporated into the design of the first Max Bill wristwatches in 1961. The artist places particular importance on the combination of utility and beauty. With constructive clarity and the pursuit of aesthetic perfection, the design classics of the Junghans max bill line are still produced largely unchanged to this day.

Movado Museum 1881 Automatic Launched in 2015, the Movado 1881 Automatic collection was introduced as a new generation of automatic timepieces. Powered by fine Swiss self-winding movements, these contemporary watches are designed for those with an appreciation for Movado’s modern design aesthetic. Now for 2018, Movado adds three new Swiss market exclusive pieces to the collection for both men and women – designed with a Swiss Cross-patterned dial. Stainless steel bracelet with push-button deployment clasp or textured black calfskin strap with stainless steel buckle.

Nomos Autobahn Designed by Werner Aisslinger, the Autobahn is the new automatic watch from Nomos Glashütte. It is reminiscent of a two-seater sports car — no seatbelts, airbags, or speed limit required. The curve of the dial’s rehaut, inspired by legendary race tracks, is particularly striking, while the elongated date window between five and seven o’clock is three lanes — or numerals — wide. Superluminova markings flank the hour typography, which not only makes the watch legible at night, but is also reminiscent of the speedometer of a classic car.

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Blancpain Villeret Quantième Complet GMT A reinterpretation of the signature piece of 2002, this practical complication is back with a new Quantième Complet GMT, enhanced with Blancpain’s patented under lug correctors. Day of the week and month in windows, date with a blued serpentine hand and moon phase window. Calendar indications are linked to the local time display on the main hands, home time shown with a red tipped hand. In-house movement featuring a silicon balance spring. Two versions: in red gold with an opaline dial and applied red gold Roman indexes, or in stainless steel with a white dial and white gold applied Roman indexes.

Voutilainen 217QRS Uniquely Voutilainen! The 39 mm wide and 11.5 mm thick case is crafted from platinum, white gold or rose gold to create three extremely limited series of just 10 pieces in each material. The dial, hidden behind a double anti-reflective sapphire crystal, has been engine-turned and set with gold applied numerals for toptier quality in execution. The movement, based on the Vingt-8 design, features two escapement wheels that give a direct impulse to the impulse roller. It benefits from a power reserve of 65 hours and the additional functionality of a retrograde date with an easy-set feature integrated into the crown.

Czapek engine-turned dials Aqua Blue, Sea Salt Grey, Black Prince, Havana Brown, Slate Grey, Red Rhubarb, Rainforest Green… Czapek is expanding the subtle range of colours of its beautiful engine-turned dials.

Each series is unique and limited to between 10 and 25 pieces, available in the 42.5 mm and 38.5 mm case sizes.

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Grand Seiko Hi-beat 36000 GMT With its deep green colour and stamped pattern, the dial of the latest Grand Seiko Hi-beat 36000 is at once striking and yet subtle. The case and movement are the same as in the watch that won the ’’Petite Aiguille” prize at the Grand Prix de Genève in 2014. The hi-beat GMT movement 9S86 is assembled in the Shizukuishi Watch Studio where all Grand Seiko mechanical watches are manufactured and assembled by hand. This calibre has a high accuracy of +5 to -3 seconds a day and a power reserve of 55 hours. The GMT hand can be used as a dual time indicator with the hour hand being adjustable independently as the time of day hands continue to mark time. The case is a contemporary re-interpretation of the 44GS design from 1967 that set the Grand Seiko style.

Carl F. Bucherer Manero Peripheral 43 mm The Manero Peripheral collection, thus far available exclusively in a 40.6 mm case size, has now been expanded with the Manero Peripheral 43 mm. Crafted from 18kt rose gold and coming in at 43.1 mm in diameter and 11.2mm thick, this latest version represents a grander take on the brand’s highly successful CFB A2050 calibre. This movement is one of the few currently produced calibres that sport a peripheral self-winding rotor, designed to provide ample winding efficiency without adding to the thickness of the movement and consequently the case. Thanks to the peripheral rotor, the case-back of the movement can be appreciated in its entirety at all times. Albeit a bit larger, the Manero Peripheral 43 mm features everything that made the original version a genuine hit for the brand.

Mido Multifort Datometer Limited Edition Mido is celebrating its 100th anniversary by revisiting one of its flagship models, first launched in 1939. The 2018 version borrows the original’s essential features while bringing it firmly up to date. Endowed with a polished and satin-finished steel case with rose PVD treatment, the Multifort Datometer reveals a silvered, sandblasted dial, decorated with black transfers, recreating the 1939 design almost identically. The characteristic detail of this timeless model is the date, indicated by a hand with a red varnished tip. Beneath its vintage exterior, this timepiece houses an automatic movement with exclusive date indicator based on its Caliber 80, which offers up to 80 hours of power reserve. Produced as a limited edition of 1,918 pieces to echo the year in which Mido was founded.

Tissot Ballade The Tissot Ballade is equipped with the new Powermatic 80 automatic movement, offering up to 80 hours of power reserve.

This officially certified chronometer (COSC) is regulated by a silicon balance spring allowing for even greater precision and assured longevity, a technology only seen at the top end of the market. Smart enough for evening wear, the Tissot Ballade rose gold bicolour version will also look sophisticated when teamed with jeans. Polished finishes produce a gleaming satiny effect and a clean, pure dial lets the design speak for itself.

Dimensions: Gent 41 mm – 39 mm / Lady 32 mm – 30.6 mm.

Anonimo Epurato With its cushion case, its Swiss automatic movement and its dial displaying the traditional reading triangle, Epurato, the third line of Anonimo displays the main identity elements of the brand, but with a diameter smaller than its big sisters.

Eminently contemporary, this first model of a new and large family is of course in bronze, historical material at Anonimo, for the first time polished, with alternate satin and shiny surfaces. Equipped with a Sellita SW200-1 automatic movement, endowed with a skeleton and Côtes de Genève decorated rotor. The applique indexes and the numerals alternate among 12h, 04h and 08h with the characteristic triangle reading of the brand. This ensures a perfect readability of the date placed at 06h.

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Hublot Big Bang Unico Red Magic The Hublot R&D department and Metallurgy & Materials laboratory have succeeded in inventing a formula for the creation of vibrantly coloured ceramics. It took Hublot four years to master the formula and successfully industrialise it, a process that has been patented. This newly developed ceramic is very dense, boasting a hardness of 1500 HVI compared to the 1200 HV2 of conventional ceramics. The colour is achieved through a major innovation whereby a combination of pressure and heat sinters the ceramic without burning the pigments. Having mastered the basic hues with this method, Hublot is now ready to introduce a whole new world of coloured ceramics to its watch collections. The first colour release is vibrant red.

TAG Heuer Monaco Gulf 2018 Special Edition The colours of the Monaco Gulf are a tribute to Steve McQueen, who insisted on wearing it throughout filming of "Le Mans" in 1971 when he drove the famous Gulf-Porsche 917K. This Gulf special edition is 39 mm, has the crown on the left, the petroleum blue dial with two white counters, the date window at 6 o'clock, the diamond-polished horizontal hour indices, the inscribed vintage Heuer logo, the calibre 11 automatic chronograph with date and water-resistance to 100 metres – all the attributes of the Monaco. As a reminder of its origins and sporting pedigree, light blue and orange stripes –Gulf's famous racing colours – have been added to the dial. The Gulf logo also appears at 6 o'clock.

Rado True Thinline Green Following last year's introduction of four high-tech ceramic colours to the True Thinline collection, Rado presents this green timepiece. The tone-on-tone dial is crafted from green mother-of-pearl with a delicate leaf structure printed onto its underside. Gold-coloured indexes are metallised on the sapphire crystal, appearing to float above the dial. Entirely constructed from green ceramic, this floral-themed wristwatch dazzles without being flashy, conveying a mood of down-toearth luxury. ETA 282.002 boosted, quartz.

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Zenith Defy El Primero 21 Blue The newly upgraded movement of the Zenith Defy El Primero 21 Blue boasts a frequency of 360,000 A/H (50 Hz), ten times that of its world-famous El Primero predecessor, providing 1/100th of a second precision: the inner bezel bears a scale graduated from 1 to 100 around which a 1/100th of a second hand sweeps at a lightning speed of one turn per second. Framed by a 44 mm case made of grade 5 titanium, the openworked dial of the watch offers a resolutely contemporary background for the key identifying characteristics of the legendary original: a startipped sweep-seconds hand, large luminescent baton-type hands and faceted hour-markers. 50-hour power reserve and water-resistant to 100 metres.

Epos 3435 Verso To create the 3435 Verso, the engineers of Epos have taken the historical and renowned ETA 6497 hand-wound calibre and modified in a way that it now exposes all its mechanical secrets on the dial side of the timepiece. The tick-tocking of the large golden balance wheel at the lower left of the dial along with the tirelessly turning wheels above it make for a remarkable spectacle. Wrapped in a 42.5mm wide stainless steel case that is 50 metres water resistant, the Epos 3435 Verso promises to provide a timelessly elegant, yet unique way of telling the time. The pulsometer on the case-back is a rare added functionality that neatly supplements the lavishly decorated aesthetic.

Maurice Lacroix Aikon Automatic Skeleton Into a freshly restyled and reshaped Aikon case, Maurice Lacroix has fitted its new manufacture, openworked, automatic calibre ML234. The case in steel, both brushed and polished, is 45 mm wide, yet only 13 mm thick. The harmoniously proportioned bezel is marked by six arms, an Aikon signature. The visible movement is structured around a series of five concentric circles radiating diagonally. “As its affordable watchmaking brand guidelines command, this timepiece delivers a uniquely high perceived value," declares Maurice Lacroix.

Schwarz Etienne Roswell 08 This unique-looking watch displays its innovative date mechanism on the left of the dial. The date operates through a drive system equipped with a quick date setting feature as well as a safety mechanism. The tobacco-brown dial has been largely open-worked to reveal the ISE-100.11 "irreversible" manufacture calibre with micro-rotor and 4 days of power reserve. 45 mm stainless steel case and matching brown structured leather strap. A highly technical, yet refreshing-looking watch.

Claude Meylan Tortue Black Claude Meylan calls his Tortue watches “sculptures”. He’s right.

Openworked to the extreme, light, transparent, the Tortue Black “represents formality, dignity, force, convention, stability, and zero-tolerance,” according to the watchmaker. Blackened by ruthenium treatment, the hand-wound movement has an autonomy of 42 hours. Stainless steel case, sapphire crystals.

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Chanel J12 Collector White ceramic and steel limited edition of 1,200 pieces. Pink mother-of-pearl dial set with 12 diamond indicators. Rhodiumplated hands. Unidirectional rotating bezel. White high-tech ceramic bracelet with steel triple folding buckle. Screw-down crown with white ceramic cabochon. Automatic movement.

42-hour power reserve. Functions: hours, minutes, seconds.

Water-resistance: 200 metres.

Omega De Ville Trésor A classic design with a truly modern edge. Each model is distinguished by its thin case, available in either 39 mm or 36 mm sizes, with diamond paving that curves along each side. A single diamond is also set within the crown, decorated with a radiant flower, in red liquid ceramic. Roman numerals encircle the lacquered dial. Mirrored caseback with a “Her Time” design concealing the Omega calibre 4061.

de Grisogono Allegra 25 The Allegra jewellery design celebrates its 25th anniversary with a “Jewellery Timepiece”. A woven gold ribbon and interlacing circles create a flowing visual effect. 29 polished or diamond-set rings are entwined around the mother-of-pearl or diamond-paved dial.

Bulgari Diva's Dream Minute Repeater Nestled inside a slender 18kt pink gold 37 mm case flowing into flared lugs, enhanced by a brilliant-cut diamond setting and under the deep brown gold-specked Urushi lacquer dial, beats and chimes the Manufacture Bulgari Finissimo movement, the thinnest in the world. An uncommon creation issued in an exclusive five-piece limited edition.

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SPOTLIGHT

CASIO NOVELTIES BASELWORLD 2018

A G-SHOCK MR-G INSPIRED BY THE TETSU-TSUBA IRON GUARD OF A JAPANESE SWORD Casio announces the release of a new addition to the flagship MR-G Series, which is part of its G-SHOCK line of shock-resistant watches. The MRG-G2000HA is inspired by the tetsu-tsuba (“iron sword guard”) on traditionally crafted Japanese swords, exuding a marriage of traditional Japanese strength and aesthetic sensitivity. A limited edition of just 350 of these watches will be released worldwide.

The MRG-G2000HA is inspired by the strength and beauty of Japanese swords, which have much in common with the toughness and good looks of the MR-G Series. The tsuba (sword guard) is an important part of a Japanese sword that provides utility by protecting the hands and delivers high artistry through its design. Tetsu-tsuba are notable for their bold look, characterised by the indentations made by hammering the iron into shape. For the MRG-G2000HA, the bezel and centre rows of the watch band are treated to achieve a texture inspired by tetsu-tsuba to capture the boldness of the MR-G brand.

Asano Biho, a third-generation master artisan of the tsuiki technique, whose accomplishments include restoring Important Cultural Properties of Japan, supervised and helped to perform the manual application of a technique called arashi-tsuchime, used for every single watch. Tsuiki is a metalworking technique in which a sheet of metal is hammered out thinly into a three-dimensional shape. Historically it was used to make copperware and other metal containers, as well as armour and helmets, which needed to be made both thin and strong. Nowadays, the technique is applied to produce components for rail cars, aircraft, and other items.

The MRG-G2000HA uses traditional colourings inspired by the aesthetic quality of murasaki-gane (deep violet AIP®*) and Suaka (brown AIP®*) copper material used in Japanese craft traditions. Suaka is made by adding gold to copper, which increases both its value and rarity, achieving a deep violet hue. This colouring on the watch case and band gives the watch a bold, regal look. The deep colours are achieved by the cutting-edge application of Arc Ion Plating (AIP®*), a hardened coating to which a deep-layer hardening is applied for high abrasion resistance.

The MRG-G2000HA features the Connected Engine 3-Way module, which pairs with a smartphone to automatically update the watch’s internal data, including the time, daylight savings time (DST), and changes in time zones. The MRG-G2000HA is an MR-G watch that marries innovative technology with Japanese aesthetics. *AIP®(arc ion plating) is a registered trademark of Kobe Steel, LTD.

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AN OCEANUS WATCH WITH BEZEL TREATED WITH EDO KIRIKO JAPANESE CUT GLASS TECHNIQUE Casio announces the latest additions to the OCEANUS line of solar-powered radio-controlled and Smartphone link watches designed to capture the essence of “Elegance and Technology.”

The OCW-S4000S and OCW-S4000C feature bezels made using Edo Kiriko traditional Japanese cut glass techniques.

The new OCW-S4000S and OCW-S4000C blend traditional Japanese craftsmanship with advanced technology, inspired by contemporary Tokyo, a city of urban sophistication complemented by history and tradition.

Edo Kiriko is a traditional Japanese technique of cutting patterns into glass that dates back some 180 years. Edo is the original name of the city now called Tokyo.

The bezels of the OCW-S4000S and OCW-S4000C watches were treated using the Edo Kiriko cut glass technique, under the supervision of Toru Horiguchi. He is a third-generation master craftsperson who carries on the Horiguchi lineage of Edo Kiriko, while at the same time producing numerous innovative pieces. The bezels are made from hard sapphire crystal, which despite being difficult to work due to its hardness, are expertly cut to achieve a stunning, refined brilliance. The sapphire crystal bezels are grown through repeated vapour deposition using different colours, to achieve a deep blue colour of unparalleled beauty.

In terms of advanced technology, the watches are equipped with the Connected Engine module that links to a smartphone using Bluetooth®. The watches keep accurate time anywhere in the world using Connected Engine and radio wave time-calibration signals. A connected smartphone app also records and analyses usage data from the watch in order to make possible a variety of features that enhance ease of use, such as reminding the user to charge the watch and warning about possible magnetic interference.

OCW-S4000S (limited to 150 watches worldwide) The upper half of the bezel is cut in a traditional Japanese sensuji fine stripe pattern, while the lower half is multi-dimensionally cut using advanced technology, inspired by firework displays in Tokyo. The inset dials are made of white mother of pearl.

OCW-S4000C (limited to 1,500 watches worldwide) Sensuji fine stripes are irregularly arranged around the bezel, inspired by a picturesque Tokyo dawn with the morning rays reflecting on the water.

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AN EDIFICE WITH LARGE LCD THAT GRAPHS LAP TIMES Casio announces the release of a new addition to its EDIFICE line of high-performance sports chronographs that combine dynamic design with advanced technology. The ECB-800 is an advanced analogue watch with extensive lap time features and a large LCD to support motorsports, and it will be available in three models.

The new ECB-800 features a large, full-dot LCD to enable the graphing of lap times. The graph provides a direct indication of lap time trends and fast confirmation of the quickest lap time.

The watch offers extensive lap time features including the ability to set a target lap time. This triggers a 30-second countdown to the target time on each lap, indicated by the second hand.

The countdown is useful for predicting the time when high-speed race cars will return, and for gauging the gap to the target lap time. Lap times are recorded down to 1/1000th of a second, with a 200-lap memory. The watch delivers utility for motorsports including an inset dial that displays the average speed, making it invaluable not only for racing teams operating on precise timing, but also for spectators who want more realistic insights into races.

The ECB-800 is equipped with the Connected Engine module, which pairs with a smartphone to receive accurate time data anywhere in the world. With this module, data recorded by the watch can be transferred to a smartphone app, allowing viewing and storing of detailed data. The app provides operating instructions for the watch and also allows the user to select course lengths to measure lap times from actual circuits, making it easy to enjoy the advanced features of the watch.

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HIGHLIGHT

TAG HEUER

CARRERA HEUER-02

AN ICON OF MOTOR SPORT TIMEKEEPING To mark its 55th anniversary in 2018, the legendary TAG Heuer Carrera collection has been equipped with the Heuer-02 chronograph manufacture movement.

www.tagheuer.com

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TAG Heuer is pursuing this path further by equipping its Carrera model with a Heuer 02 chronograph calibre featuring a frequency of 4 Hz and a power reserve of 75 hours. At 6.95 mm thick, this automatic movement comprises 168 components, a pillar wheel and a vertical clutch.

Featuring traditional finishes visible through the sapphire case-back, this TAG Heuer proprietary mechanism offers maximum space for the counters on the dial side, resulting in visual harmony and perfect legibility.

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Heuer Carrera. TAG Heuer’s best-selling model celebrates its 55th anniversary in 2018. 55 years of research and innovation. To mark the occasion, TAG Heuer is extremely proud to have equipped this iconic piece with a new manufacture movement: the Heuer 02 chronograph. To accompany the launch, TAG Heuer has also issued a book, “Carrera, ahead of its time”, which takes readers on a journey through the history and heritage of this legendary timepiece.

Synonymous with the world of motor sport – it takes its name from the famous Carrera Panamericana race – the first Heuer Carrera was created in 1963 by Jack Heuer. Its revolutionary dial made it a ground-breaking model for the time. Thanks to its modernism and minimalism, it quickly became an international success.

Since then, the collection has been expanded year after year with the addition of new models renowned for both the creativity and technical innovation they represent. One such example is the TAG Heuer Carrera Mikrogirder, which offers accuracy to 5/10,000ths of a second and 7.2 million vibrations per hour. Others include the Calibre Heuer 01 manufacture movement and the TAG Heuer Connected Modular 45, the first TAG Heuer high-end modular connected watch to carry the Swiss Made stamp. Swiss tradition connected to the future.

HIGHLIGHT

URBAN JÜRGENSEN 1140 RG L BROWN

CELEBRATING 245 YEARS OF CRAFTMANSHIP Continuing 245 extraordinary years of history, and to mark the anniversary, Urban Jürgensen presents its new limited edition of 20 pieces, the Ref. 1140 RG L BROWN. At first glance, the 1140 RG L BROWN strikes a unique tone from the chocolate brown dial juxtaposed with the finely blued hands, to the exquisite Arabic numerals crafted in solid rose gold and hand-polished to a fine pillow shape. The limited-edition anniversary piece exhibits a simplicity that conceals the complexity of its creation. The construction methods and craftmanship used are deliberately intended to appeal to connoisseurs of fine watchmaking. While some design elements are clear to see, others are virtually hidden from view. This new model contains the soughtafter handcrafted blend of the Urban Jürgensen hands, the guilloché dial, the in-house P4 hand-finished movement and teardrop lugged casework that ensures every piece is a unique work of art.

Urban Jürgensen hands are hand-made. They comprise a significant number of components that are individually honed, polished, assembled and finished. This naturally implies numerous hours of highly skilled workmanship and is a key feature of Urban Jürgensen timepieces.

Urban Jürgensen is considered a master of the art of the hand finished guilloché dial. In the new 1140 RG L BROWN, this can be appreciated in the great attention to detail in the dial layout and the selection of barleycorn and guilloché checkerboard patterns. Each dial requires up to 700 operations and takes two full days of manual work to complete on a rose engine lathe.

www.urbanjurgensen.com

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The rose gold Urban Jürgensen Arabic numeral appliques are inspired by the hand painted enamel and grand feu dials of our historic pocket watches – an inspiration that imparts almost impossible challenges in crafting them in solid gold.

HIGHLIGHT

FABERGÉ

VISIONNAIRE COLLECTION FABERGÉ VISIONNAIRE CHRONOGRAPH & FABERGÉ VISIONNAIRE DTZ Inspired by the pre-1917 Fabergé Imperial Eggs, the Fabergé Visionnaire Collection was created in association workmasters, which combine the science of measuring time with the imaginative freedom of Fabergé. Faithful to their heritage, these timepieces celebrate the unexpected with a unique surprise at the heart of each watch.

The Fabergé Visionnaire Chronograph adopts a similar logic. Hours and minutes are read at the periphery of the watch dial while the chronograph function takes centre stage. The automatic calibre 6361, developed in partnership with Agenhor, offers a new intuitive chronograph display. It is a revolutionary new movement that imparts unprecedented clarity, precision and efficiency to the highly popular chronograph complication. It is the modern-day analogue to a Fabergé egg — a mechanical opus with wonder at its heart.

www.faberge.com

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Fabergé Visionnaire Chronograph black ceramic (materials: black ceramic and black treated titanium) Fabergé Visionnaire DTZ rose gold (materials: rose gold and titanium)

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The Fabergé Visionnaire DTZ adopts a logical and intuitive method of displaying two timezones simultaneously. The hours and minutes of the local timezone are presented with peripheral, open-worked hands rotating around a raised, decorated dome located at the centre of the dial. The hour of the second, remote timezone can then be viewed through an aperture at the centre of the dome.

HIGHLIGHT

TITONI

MASTER SERIES PROUDLY INDEPENDENT

Titoni is one of the few remaining independent family-owned watch companies in Switzerland.

Three generations of the Schluep family have gone their own way for decades, and each of them has pursued a long-term vision to guarantee the company’s stability and continuity.

www.titoni.ch

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The Master Series is Titoni´s premium collection. Each model bears the seal of the Official Swiss Chronometer Testing Institute (COSC). The latest addition to this collection is the Master Series 94688 S-ST-579.

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At the heart of its philosophy stands its credo to produce Swiss-made mechanical watches of the highest quality at affordable prices. With almost a century of heritage, the company is fully dedicated to offering its clients first-class timepieces that live up to the company’s high standards.

Today, Titoni is proud to introduce its latest quality masterpiece: the Master Series 94688 S-ST-579.

This certified chronometer is Titoni´s premium product. The watch with its classic and elegant design has been created for connoisseurs and watchlovers alike. It combines simplicity with the fine art of Swiss watchmaking, a symbiosis for those who truly care about aesthetics and first-class craftsmanship.

The watch is presented in a 41.00 mm watch case and is equipped with a power reserve indicator at 6 o’clock and a big date window at 12 o’clock.

With its fine bezel and sunray brushed dial, the timepiece reveals a refined look and a particularly bright appearance.

Classic indexes and elegant skeleton hands are both manufactured using a diamond-polishing technology. A combination that leads to a stunning reflection of light.

HIGHLIGHT

CITIZEN

PROMASTER GO BEYOND

Since its debut in 1989, the Promaster professional sports watch has been a firm favourite with professionals who challenge their limits.

What will you find beyond your limits? How will you feel when you get to places where no one’s ever been before? Infinite possibilities, infinite choices: there's a new world out there, beyond anything you have imagined, waiting to be explored. Beyond your imagination.

Since its debut in 1989, the Promaster professional sports watch has been a firm favourite with professionals who challenge their limits. It offers functionality enabled by innovative technology, durability suited for extreme environments, and carefully thought-through safety for the user.

www.citizenwatch-global.com/promaster

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Citizen’s professional sports watch brand takes performance to a higher level to meet the needs of the pros who blaze the trails others follow.

HIGHLIGHT

TRASER

P68 PATHFINDER AUTOMATIC FOR GLOBETROTTERS AND EXPLORERS The timepiece that was built to make your dreams of adventure come true. 24/7.

Under all possible weather conditions.

At any time, day or night.

www.traser.com #p68pathfinder #dontgetlost

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Illumination: trigalight® self-powered technology for the hours indexes and hands Super-LumiNova for the direction indicator on the compass ring, external numerals on the dial and luminescent glass seal. Movement: Swiss Made automatic movement, date window at 3 o’clock. Power reserve: 38 hours. Size: Ø 46 mm.

Glass: Anti-reflective sapphire Case: Black PVD-coated stainless steel with matt polished details.

Screw-down crown.

Dial: Midnight-blue sun-brushed.

Compass ring: Integrated in the case. Operated via the crown at 8 o’clock.

Strap: Midnight-blue NATO strap with a thin gold-yellow line.

Waterproof: 10 ATM / 10 bar.

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The P68 Pathfinder Automatic is dedicated to self-determined and self-confident individualists who transform their ordinary days into adventures. This collection captivates with clear lines. The purist case of blackened stainless steel is peppered with fine details: matt surfaces skilfully alternate with polished edges to add a touch of understated sophistication to the watch.

A glimpse inside the case reveals the secret of the P68 Pathfinder Automatic: a compass ring, which can be operated with one hand via the crown at 8 o’clock. This ring, used in combination with the position of the sun and the hour hand, enables the wearer to easily establish their current position and the cardinal directions.

Light is the primary element of the P68 Pathfinder Automatic and of all the other traser models – traser, the inventor of the self-powered illumination technology trigalight®. Assuring perfect visibility, even in the most demanding environments, trigalight® functions without the need for external light or energy sources.

When night falls, a unique spectacle of light and colours begins on the time display. After the Super-LumiNova elements have faded, trigalight® takes over the leading role. The luminous pipes transform into the brightest stars on your wrist and continue to guide you reliably until dawn.

HIGHLIGHT

ALEXANDER SHOROKHOFF AVANT-GARDIST

CREATES NOT ONLY TIMEPIECES, BUT ART ON THE WRIST Every Alexander Shorokhoff watch has its history and soul, as the company produces unique luxury watches with exceptional design and excellent hand engravings that are inspired by international art and culture.

www.alexander-shorokhoff.de

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Mechanical automatic watch “Kandy AVG” from the Avantgarde series. Stainless steel case with red gold and black PVD-coated wires, sapphire glass, hand-engraved rotor, limited to 100 pieces.

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The globally operating family manufacture is located in Alzenau, a small idyllic town in Bavaria, Germany.

Alexander Shorokhoff and his team create and develop marvellous and exceptional watches that combine cutting-edge design with the highest quality, as well as fine hand engravings. The designs fascinate, polarise and encourage people to think.

With three collections, Heritage, Avantgarde and Vintage, they take the incentive to stand out from the competition and design not only timepieces but “Art on the Wrist”. The Heritage collection is dedicated to Russian art and cultural heritage from the 19th century, while the Avantgarde collection concentrates entirely on design inspired by European Suprematism and international art and culture of the 20th century. The Vintage watches represent an individual collection within the Avantgarde series and are fitted with historic and no longer manufactured movements. The company also has the ability to manufacture individual and custom-made products, since individual steps are performed in-house.

Under the motto Time for Emotions Alexander Shorokhoff will present a range of new, exceptional, emotional watch models at Baselworld 2018, which can be seen at Booth L44, Hall 1.1, from 22 to 27 March.

HIGHLIGHT

WOLF

SINCE 1834

THE ONLY ONE THAT COUNTS A British icon since 1834, WOLF continues to command attention in the luxury leather-goods market, designing the world’s most exquisite watch winders, watch boxes, and jewellery cases. Family led for five generations, WOLF maintains its quality craftsmanship year after year, distinguishing itself from others with its superior patented technology and sophisticated design.

www.wolf1834.com

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1834 Watch Winder Safe Collection The collection is available in 2, 8, 12, and 16-piece winders in a stellar high gloss onyx or titanium finish with Bluetooth control, custom drawers, and global UL certification ensuring the highest level of security.

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Patents differentiate them. Precision defines them. WOLF not only understands the importance of keeping timepieces wound accurately and effectively, they have the technology to support it.

A WOLF winder is a handmade precision instrument. From the optimum size of drum and cuff to the technology that delivers exact turns per day, WOLF tests the tests to ensure the highest possible quality – nothing is left to chance. A WOLF winder focuses on the health of your watch with patented innovation. This patent includes custom algorithms and technology governing how the turns are counted.

Only a WOLF counts rotations – all the others simply use time to estimate the counts per day. With 184 years of innovation, WOLF knows that relying on time is simply never enough.

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STYLES

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The risky lure of neo-vintage

Slowly but surely over the past few years, a vintage wave has been sweeping through the watchmaking establishment and influencing styles like few phenomena before it.

The exponential rise in niche markets

Hardly a day goes by without a new brand emerging, or trying to emerge, mainly on platforms such as Kickstarter.

XXL gets a downsizing

As if they had committed a crime of excess, watches across the board, from the sports watch to the dress watch, the complicated watch to the simple three-hand model, have suddenly scaled down in size, thickness and gaudiness.

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Personalisation, for the privileged few?

Reserved until recently for a few high-end watches, personalisation is now gaining ground.

But the phenomenon has yet to become widespread.

Watches and connection: parting on good terms

The traditional and the connected markets appear to be able to coexist happily in the long run, contrary to what we may have believed.

CHANNELS

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The end of the "regular" retailer

Retailers content with setting up shopsin-shops and ending up more like estate agents than watch professionals, should be worried.

The forced march towards digitisation

Sponsored content on Facebook, e-commerce websites, transparent watch prices, massive investment in SEO on Google – faced with the digital tidal wave that is sweeping everything before it, the brands are at a loss as to which way to go.

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New actors, the ambitious plan of Chrono24

With about one million users registered for yearly transactions of a billion euros, Chrono24 has a treasure trove of data – meaning actual buyers of watches – at hand to try to win brands’ hearts and minds.

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Goodbye to the passive ambassador?

Brand ambassadors 2.0 are directly involved in product design, thereby reducing the risks of misalignment and hypocrisy present with a purely financial contract.

LABS

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Laboratories are the hub of progress

Watchmakers tried, prototyped, dismantled, reassembled and tweaked until it worked – like clockwork. That was then. Now, watchmaking no longer revolves around the watchmakers. Laboratories are the hub of progress.

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Watchmaking and science: origami, nanotubes and capsules

Research conducted in recent years is now resulting in actual products which brilliantly demonstrate that mechanisms are not dead by a long chalk – and that a complete renaissance is possible.

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The hybridisation of high-end watches

Hybrid designs combining mechanics and electronics is one path being explored in chronometric watchmaking. Genuine progress or smoke and mirrors? It could be one or the other. Or a mixture of both.

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In the last two decades, we have seen mechanical watches grow in size, flaunt their muscles and display their innards. They have become more extrovert, trying on different colours and unusual shapes.

Complication has been piled onto complication, and tourbillons have joined the dance, whirling around in twos, threes and even fours.

There was a touch of madness in the air. Prices skyrocketed; anything and everything seemed possible, provided it could physically be done, and there was someone prepared to pay for it.

But times have changed. Stylistic arrogance is passĂŠ. Millennials are into vintage and neo-vintage. Minimalism is back in fashion. Dials are reverting to the classical codes, sizes are shrinking and watches are becoming wearable once again.

Smartwatches have reached maturity, and the watch industry is breathing easier, relieved at having dodged a bullet. But at the same time, the digital revolution has brought about an explosion of watch start-ups, each striving to carve out its own niche. This is both positive – redoubled stylistic creativity, albeit often with vintage inspiration – and negative, with a proliferation of copies, mediocre products, flashes in the pan and a confusion of values.

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Slowly but surely over the past few years, a vintage wave has been sweeping through the watchmaking establishment and influencing styles like few phenomena before it. Virtually no brand, whether large or small, luxury or affordable, historic or recent, is unaffected. Nearly all are betting – heavily in many cases – on their vintage. Or more accurately, their neo-vintage. A wise move, or not?

So much was patently evident at the last SIHH. Want names? Vacheron Constantin and their new FiftySix line; Jaeger-LeCoultre, virtually their entire stand devoted to the new and exhaustive Polaris collection; Cartier, who are launching a vast revival of Santos; GirardPerregaux, staking all on the rebirth of their Laureato line; IWC and the 27 different watches of their Jubilee collection; Panerai and their reissue of the Luminor Logo. The list goes on.

It's the same story at Baselworld: Bell & Ross proclaiming of its Heritage collection that ‘the best of the past inspires the present’; Bulgari betting heavily on its 1940s Serpenti; Longines issuing new takes on its ‘very high-precision’ line of Conquest V.H.P. quartz watches from 1984; Mido commemorating its Commander line from 1959; Omega taking inspiration from its 1976 chronometers for its Seamaster Olympic Games Collection. And so on.

So what does this ubiquitous craze for vintage mean for the brands, and what are the consequences?

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Top-down or bottom-up?

One of the peculiarities of the vintage trend – which has gradually evolved into neo-vintage – has to be that it came from the bottom up; that is, from the consumer, rather than having been imposed from the top down, by the brands.

The persisting fashion for vintage, which has been gathering momentum for the past decade, is fuelled by a raft of social phenomena and anxiety-ridden times: nostalgia for the thirty glorious post-War years when everything seemed possible, when the consumer society took off, when morals were liberated and rock and roll was born; the quest for durability and safe values as an antidote to the present, perceived as unstable, frightening and engaged in a race, the end of which is nowhere in sight; the need to consume responsibly, the desire for authenticity and simplicity in the face of continually escalating technology and the dematerialisation of daily life.

The impetus clearly came from the consumers: consumers reassured by vintage. And from there, a whole new market has gradually emerged.

The building of vintage As far as watchmaking is concerned, one man – Osvaldo Patrizzi – played a central role in the gradual building of the vintage market when he created Antiquorum way back in 1974. Little by little, all the auction houses began to offer vintage or antique watches.

The number of collectors grew exponentially. Then the internet came along and boosted the trend, democratising it at the same time. Enter the specialist forums,

Modèle 671560 Fabriqué à Besançon

Tel : +33 3 81 48 48 68 · lip@smb-horlogerie.com

N’EST PAS LIPSTER QUI VEUT

online sales and peer-to-peer ad sites. And with the ad- vintage seeks inspiration a little further back in time. vent of bearded hipsters and other millennial types, At Tudor, a meticulously rolled-out, totally neo-vinvintage swelled further, shattering the market into a tage strategy has given the brand a whole new lease of multitude of specialised subcategories. life. Its example has spawned a host of emulators. But The lure of profit also played a role. When you know the question is: does this strategy work for everybody? that a new watch is going to lose more than one-third or even 50 percent of its value (primarily VAT and sales margin) as soon as you leave the shop, it is not unrea- The uncertain adventures of Polaris sonable to reflect that investing even only a few hundred francs in a second-hand vintage watch is far less We do not intend to answer this question, which is one risky than investing in a recent model. And the same of the questions the CEOs ought to be asking themholds true whatever the price range. selves, here. What exactly do we place in the balance?

Given the recent record prices achieved at auctions – We know that Breitling, under the leadership of Georges such as that of the famous Daytona that belonged to Kern, is buying up everything that resembles vintage Paul Newman – do we have grounds to fear that a bub- Breitling – so the financial stakes are bound to rise. ble is about to burst? Juergen Delémont, who heads up This determined strategy is confirmed by the recent the department devoted to vintage watches at Beyer Chronoliner B04, with its “matching rubber strap remiChronometrie in Zurich – a ‘vintage’ niscent of the Breitling braided-steel pioneer – answers the question: “There NEO-VINTAGE 2018 watch straps of the 1950s”. are ups and downs of course, and there • Cartier Santos 1904 As for Jaeger-LeCoultre, the sheer scope are peaks, when limits are reached. But • Longines Conquest its Polaris operation surprised many. As I’d compare the vintage market less to V.H.P.1984 if the company was staking everything • Mido Commander 1959 a bubble than to a foam bath with hunon it, with almost the totality of its showdreds of little bubbles. If one bursts, not • Omega Olympic cases and sales space devoted to the colfar away others are growing, while oth- chronometers, 1976 lection. The neo-vintage gentrification of • TAG Heuer Monaco ers are shrinking.” the legendary and adventurous Polaris (1969, re-issued in 2003), (1965) left many observers gaping.

Carrera (1963, The fact that the watch company of 1,500 re-issued in 2004) different calibres is putting so much efNeo-vintage strategies: Autavia (1962, fort into a rather superficial, millennialsuccesses for TAG Heuer re-issued in 2017) charm offensive leaves you wondering at and Tudor the clout this stylistic trend is wielding.

Faced with the evidence of this phenomenon, the es- And therein lies the danger. Isn’t it said that vintage tablished brands have begun to react in a variety of lovers will always prefer the original to its offspring? ways. While Rolex and Patek Philippe have skilfully made use of auctions to reaffirm and consolidate their popularity (and from this safe place quietly pursue Forever blowing bubbles their path of successive improvements), others, less favoured in auctions, have taken recourse to their own As stated earlier, the vintage phenomenon is like a archives to draw inspiration there. foam bath. One bubble bursts, another forms. As the This is how we have come to see the gradual emer- foam has surged, the fashion for vintage has won over gence of so many ‘new’ collections directly copied and numerous collectors, often young, with an increasing adapted from older models and clearly aimed at win- interest in ever more specialist niches. ning over the growing fringe of buyers likely to suc- Has vintage become a world apart, a network of peercumb to 1950s, 1960s or even 1970s charm. to-peer exchanges with its own, ever-morphing codes?

TAG Heuer deserves a special mention for leading the All the brands can do is watch events unfolding, enlist way on this sentimental journey, with the successive the services of aficionados and swim with the current. revivals of the Monaco (1969, re-issued in 2003), the Can anything be anticipated?

Carrera (1963, re-issued in 2004 and now the star of the It's anyone's guess, but: ocean liners are slower to turn brand) and, lastly, Autavia (1962, re-issued in 2017). than bark canoes, and the fashion for vintage is a fastAs you might have noticed, with each success the neo- flowing river that feeds on its own water.

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THE ROADSTER COLLECTION

WATCH WINDERS

WATCH BOXES

JEWELLERY BOXES

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TRAVEL ACCESSORIES

L A TI EN

Hardly a day goes by without a new brand emerging, or trying to emerge, mainly on platforms such as Kickstarter. A surprising fact, given that the currently beleaguered watchmaking industry is gradually recovering from a series of lows over the last three years.

Competition or opportunity?

The comparison is risky and not always possible, but here goes. In the past few years, breweries have been producing local and craft beers all over the place, and successfully so. Rather than viewing it as the competition cashing in on a few hectolitres here and there, the big beer empires have seen it as an opportunity to have so many microbreweries growing up all around.

Each of these local beers started out as a burgeoning niche. One after the other, they were taken over. Today, Carlsberg owns 729 beer brands, AB InBev–SABMiller has 404, Heineken 297 and the ‘baby’ of the group, Asahi, owns 42. That makes a total of more than 1,400 beer brands for the Big Four.

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The ‘Quickstarters’ We are prompted to make this comparison because, all around us, almost every day, a new watchmaking micro-manufacture, a new brand, a new niche is born.

Before the internet, before globalisation and crowdfunding, creating a brand was quite a different matter.

It was no coincidence that virtually all watchmaking brands founded previously had arisen from within a well-supplied, geographically localised industrial network. Now it is possible to launch a brand from anywhere, produce and assemble it anywhere using components from anywhere, and then sell it anywhere.

Mr. E., a Europa Star contributor with a watchful eye on all burgeoning brands, keeps meticulous records of his findings (Ed's note: a detailed list of all the abovementioned brands may be found on europastar.com).

By way of example, here are a few identified recently.

Their names probably won’t mean much to you, unless you like to hang out on the crowdfunding platforms. But, out of these few startups handpicked from among a whole host of others, some may boom.

WHO KNOWS? • Vamatic, Slovenia, classic, minimalist, quartz, ETA automatic • Sekford, UK, clean, minimalist, Swiss Made, quartz • Xeric, USA, spatial design inspired by the Trappist-1 solar system, quartz Ronda • Grayton, USA, named inspired by “50 Shades of Grey”, sporty classic, Seiko automatic • Camden Watch Company, UK, inspired by Victorian Britain, quartz, Miyota automatic • Stage watches, Hong Kong, mid-range, assertive, geometric design, Sellita SW200-1 automatic • Linjer, Norway/Canada, super minimalist and clean, no signature • Mad Watches, Canada, neo-classical, automatic, tourbillon from PTS Resources Ltd (HK) Tourbillon under CHF 600.• Knut Gadd, Sweden, vintage minimalist cushion case, 100 Euros, Japanese quartz • Holthinrichs Watches, the Netherlands, architecturally-inspired, 3D printing, ETA 7001, Made in Delft • Lundis Bleus, Swiss, designer, pure, creative, Miyota 9016 automatic • Laventure Marine, Switzerland, 1960s vintage-inspired diving watches • Filippo Loreti, Italy/ Lithuania, neo-luxury, classical Italianinspired, Miyota, USD 200 - 300.

The latter neo-brand, Filippo Loreti, is a record-breaker: in November 2016, 18,550 internet users signed up to the startup's second collection, which achieved a total of $5,170,445 collected in thirty days, making it the 18th biggest Kickstarter fundraising at the time, all projects combined!

However, judging by the scores of comments from customers disappointed by the mediocrity of a product, or indeed who never receive their goods, this apparent success raises a big question mark over reliability, durability in the long-term, after-sales service, and also the honesty of some of these ‘pure’ players and their true intentions.

But could this remarkable brand emergence simply be termed an ‘epiphenomenon’?

A thousand niche markets Just as local beers hijacked a few barrels from the big brewers here and there, so are the ‘quickstarter’ neobrands eroding sales from the established brands.

Disregarding or scorning the phenomenon is probably the worst possible reaction. Kickstarter is a great observatory for emerging styles, fashions and trends.

It’s like a poll conducted in real time; what’s more it’s conducted among consumers who are making a firm commitment.

What conclusions can be drawn? Primarily, that the globalised world is paradoxically fragmenting into a thousand tribes, a thousand niche markets.

Pure vintage, neo-vintage, minimalist, classic, ‘disruptive’, sporty, designer, commemorative, military, diving, discreet chic, flamboyant, inventive… there’s something for every niche.

Including for some that have yet to be discovered.

The brewery groups, for whom niche beers are “one of the strategic channels” (but they don't broadcast the fact), thus try to “stay close to all potential consumer segments”. Does this mean that some of these watchmaking startups will also end up in the pockets of a larger group in the future, whether overtly or discreetly? Or will some of them manage to grow and develop into a brand that will truly become a fixture in the landscape?

This is clearly the intention of some, who endeavour to acquire the resources. Klokers, for example, with its original display inspired by the typical 1960s slide rule, or Code 41, with its ‘100% transparent’ concept, claiming to want to ‘revolutionise the watchmaking industry by proposing top-quality mechanical watches at a fraction of their price’.

A few rare brands have nevertheless dared to take the plunge by launching a fine watchmaking company with the aid of participative funding. Czapek & Co. became

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the emblematic example of such a course of action, thanks to its successful business trajectory, intelligent growth and the quality of its products. Yet few have dared to engage in such an adventure in its wake.

At the other end of the spectrum, the Daniel Wellington brand, which came into existence in 2009 as a pure niche ‘nouveau luxe’ brand, chic, minimalistic, but highly affordable, has sold millions of watches (both through direct distribution and via a rapidly built network of retailers) and has also had a big stylistic impact on a number of brands, including some highly established ones. “The Swede that made Swatch tremble”, ran the headlines in BFM Business in 2015.

Lessons in short circuiting The sudden emergence of a brand like Daniel Wellington could not have been possible without the aid of the web, bloggers, influencers, Instagram (apparently with nearly 1.5 million subscribers) and its monetisable “stars”.

There’s now a direct line from producer to consumer, which sometimes (but not always) proves effective.

However, what is valid for these young startups, mostly headed up by young people with very close cultural and sociological connections with their targeted audiences, is not transposable as it is for established brands, whose audiences are more diverse and often older.

When all is said and done, watchmaking startups are forcing the ‘traditional’ brands, at least partly, to radically alter their modes of promotion and distribution.

Brands that have patiently built up their physical distribution networks as vertical organisational structures, which are now increasingly integrated by means of direct subsidiaries and own-name store networks, are compelled to erect additional horizontal strategies adjacent thereto, in a bid to enter the web game, but at the risk of slipping under the millennials' radar.

But the results are often inconclusive (and even sometimes pitiful, such as the executive of a top established brand famously spotted using his smartphone to take pictures of his wristwatch for Instagram while posing every time he saw a nice car).

Stylistically, promotionally and commercially speaking, young watchmaking startups spawned by, and evolving around, the web have already profoundly transformed behaviour. So they are not to be dismissed. While this is not something to be “copied” (many of them, in fact, already occupy specialised segments), they do offer a valuable seismographic record of markets that are increasingly fragmenting into manifold niches. (PM) 118

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The Italian effect The phenomenon began in the mid 90s. In 1997, Vendôme, now the Richemont group, acquired Panerai and started methodically marketing amply-proportioned watches commencing with its Luminor and Radiomir models in 44 mm, 45 mm and 47 mm diameter versions.

The robust, oversized watch originally intended for the most intrepid combat swimmers of the Italian army was suddenly "in", it could be seen at the beach and encircling even the slimmest of feminine wrists with all the clunky allure of a precious piece of military engineering. Chunky, but chic!

Once again in the world of watchmaking, the Italians had set the tone. XXL was a new trend, everyone jumped on the bandwagon, rarely for the better, often for the worse. It was also the era of the oversized 4WD (or "Chelsea tractors", as they are known to Londoners).

Flamboyant, flashy and intentionally vulgar, Scorsese's Wolf of Wall Street springs to mind.

Watchmaking was becoming larger than life, beefed up beyond all recognition.

Now the superdoping would appear to have stopped and a little more decency has been restored. Another style, Watchmaking sizes down another mentality, another era. XXL is But there have been one or two crises since then and OUT. It's back to the drawing board, now the XXL trend is out. As our colleague David and we need to call out the size issue.

Chokron perfectly summed it up in Le Monde, the watchOver the last fifteen years, the general upmarket growth of Swiss mechanical watchmaking has been accompanied by a gradual increase in the thickness and diameter of watches: 40 mm, 42 mm, 45 mm, 48 mm, 50 mm… and even beyond.

The amplification phenomenon affecting thickness and diameter slowly spread across all watchmaking segments, beyond even the ultra-sporty watches for which size is a justifiably defensible argument in terms of visibility, resilience and additional functions.

A widespread 'oversized' trend took hold in watchmaking. At the same time, watches piled up complication upon complication upon complication. This required an increasing amount of room, the movement was pared down, the dial was dispensed with, or, alternatively, skeletonised, leaving open to view the pure mass of muscles and organs at work within the case.

Watches thus lost all of their subtlety, “class” and elegance, one might say, making bold statements on the wrist, not shy to set their own price, transformed into loud, blingy status objects.

making industry is “emerging gracefully from three years of profound crisis in search of substance by at last questioning form.”

This paradigm shift was clearly evident during SIHH 2018. Everywhere, across all brands, watches had returned to more reasonable, and more elegant, proportions. As if they had committed a crime of excess, watches across the board, from the sports watch to the evening watch, the complicated watch to the simple three-hand model, had suddenly scaled down in size, thickness and gaudiness.

This rediscovered discretion clearly owes much to the vogue for vintage watches (see chapter devoted to the subject in this issue). One of the first arguments advanced by vintage-hungry millennials is precisely that of size and proportion. “Wearable watches”, they sing out in unison. Watches that don't need to be oversized to exist.

As throughout its past, watchmaking is just a reflection of its era.

It has now adopted other values than pure exhibitionism (it will take more than Trump to reverse the trend).

Less is, once again, more. (PM) 119

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Online configurator

Reserved until recently for a few highend watches, personalisation is now gaining ground. Mainly as a result of the internet, new technologies, or the new watch configurators, many brands are attempting to seek out the spotlight, or extending their pitch, by proposing a range of bespoke models. But the phenomenon has yet to become widespread.

Until recently, ordering your very own watch from a manufacture, configuring it according to your own choice of materials, decoration and even motorisation, was reserved for the highly exclusive circles of only the wealthiest watchmaking enthusiasts or collectors‌ and the most patient.

Apart, that is, from the highly particular case of the Jaeger-LeCoultre Reverso, the only watch to lend itself to personalisation through the application of engraving or enamelling to a virgin case back (undertaken to order by the Atelier Reverso specifically tasked for the purpose). Vacheron Constantin, with its Quai de l’Ile collection, also offers hundreds of possible combinations on demand, thanks to the special construction of its watchcase and case-middle divided into 7 separate, personalisable parts (including caseband, lugs, inter-lugs and caseback). Rarely does one find such structured examples of bespoke offerings in high-end watchmaking.

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Are there changes afoot? Recently, several top quality brands launched specific customisation offers. A short while ago, Armin Strom, a modestly proportioned, yet 100% vertically integrated, high-end watchmaking manufacture, introduced its online Configurator, which allows you to chose the movement, the colour of the different components, dial, hands, indices, case material, strap or bracelet, etc‌ Bulgari also recently offered the possibility of personally configuring its Serpenti watch. Via a dedicated application it offers more than 300 possible combinations including case material, dial colour and treatment, choice of plain bezel or with gem-setting and type, material and colour of strap or bracelet.

In another recent offering, HYT also allows you to personalise your watch by choosing the colour of the liquid that flows through its glass capillaries.

But aside from these rare examples, systematically offering owners the possibility of customising their watches is a tricky, if not impossible, task, mainly for logistical, organisational, stock and personnel reasons. What may be envisaged for a small brand or for small quantities is not necessarily possible for the bigger fish in the watchmaking sea. Not to mention the execution time required, which increases considerably with the number of choices on offer.

CONFIGURATOR Armin Strom online Configurator, allows you to choose, among others

3D personalisations With the explosion in the number of watchmaking start-ups born of the great wave of digitisation, the customisation solution has now become a way for emerging brands to stand out from the crowd. Hence the plethora of offerings, mainly in the lower-end segment, but also elsewhere.

Said customisation can range from the simple, commonplace “choose the colour of your strap” to the most sophisticated technical solutions.

The Dutch brand, Holthinrichs Watches, for example, or Synchronos of California are now offering watches that are “anatomically adapted” to their customers, “a benefit linked to the use of 3D printing and digitalisation”. The latter's creator explained it was his intention to propose “a platform that could enable anyone to design and sell accessories using our technology.

Imagine a future where you might design and sell your own watches anywhere in the world!”

Technically, 3D printing in steel or titanium, for example, does not require the manufacture of specific tools. The design, or decoration, of the piece can be directly generated on a computer using 3D CAD software, which leaves the door open to all kinds of possible customisations. Each piece can thus be unique.

• the movement • its finish • the colour of the different components • the dial • the hands • the indices • the case material • the strap

The way forward?

But a question arises: are consumers truly intent on customising their watches at all costs? Is personalisation not condemned to exist for the privileged few?

Judging by the continuing success of certain models or certain brands considered iconic, the feeling is more that a watch's value, the very definition of a status object, lies above all in its social recognition potential. “Oh, you're wearing a Rolex now…”.

Yes, but even a Rolex can be “customised” by Titan Black, for example, or Bamford, which prides itself on being “the first company to offer full customisation for the most iconic watches in the world.”

Does the real worth of bespoke watchmaking in fact rely on the ability to recognise the brand in its newly transfigured form? The question remains to be answered. (PM)

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Every market needs a strong symbolic leader, a locomotive, a benchmark to ensure its survival. Rolex is that symbol for the “traditional” watch, and Apple for the “connected” watch. The two markets appear to be able to coexist happily in the long run, contrary to what we may have believed.

Each stands out, whether it’s through the sheer strength of its brand, or its ability to convince a bare wrist it's better to be encircled by an object that delivers a variety of data. On the one hand, we’re talking about a symbolic logo embellished by hands, counters and pushpieces; and on the other, we have a heart rate, or an SMS from one’s girlfriend (the two are often connected...). We are, of course, referring to the big debate that rocked the watchmaking world when the launch of the Apple Watch was announced in 2014.

Yet that debate seems to have more or less disappeared from the radar, despite it being the daily topic of watchmaking discussion just a short while ago. Remember when Google and Intel turned up at the entrance of Baselworld? Horror! Meanwhile, Intel has largely abandoned the connected watch market... Not enough demand for the mass-market player. Conversely, Apple Watch has now become the hands down leader on the connected watch market.

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Telling the time can be useful In an interesting article by our colleague over at Le Temps, Valère Gogniat mused on the timepieces gracing the wrists of the world’s most influential figures at the latest Davos Economic Forum, from businessmen to political leaders. The verdict? Despite the handful of naked wrists, there were a few mechanical or quartz watches, but the Rolexes and Apple Watches were plentiful.

It’s an accurate reflection of the current market situation. You buy a Rolex (and by extension other traditional watchmaking brands) not just for its symbolic power of attraction, but also for its tried and tested reliability and even (believe it or not!) to tell the time.

Because, despite the soothing words of many an industry executive when faced with accusations that watches have lost their ability to tell the time, you’ve got to admit, having a wristwatch is much easier than taking your smartphone out every five minutes.

On the subject of time-telling, Rolex remains the master of the game, with 4.7 billion dollars in sales every year, according to Vontobel estimates, as against 1.8 billion for its challenger, Omega. Then again, “Vontobel’s figures are always wrong, but increasingly less so every year,” as one anonymous watchmaking executive commented wryly.

On the other hand, although Apple may not have had the same success with the Apple Watch as with the iPhone or the iPad, it is clear that the Californian giant has succeeded in capturing millions of wrists. With 18 million units sold last year, according to Fortune magazine, it accounts for more or less half the sales of smartwatches in the world. On 1st February, the company, although lacking in any accurate official data, announced that its Series 3 model (for the time being disconnected from the mobile phone), was selling for “twice as much” as its predecessor and that it was thought to be posting a growth in sales of around 50%

With 4.7 billion dollars in sales every year, according to Vontobel estimates, Rolex remains the master of the game in traditional watchmaking.

for the fourth consecutive quarter. In this era of the quantified self and at a time when the issue of healthobsession is rivalled only by that of self-obsession, does this really come as such a surprise?

Rooted in the collective unconscious This does not preclude the possibility of a technological hybrid form in the future. The possibilities are endless, as we demonstrate in this feature. But the traditional and connected watch industries can at least count on a few strong symbols, which look like they’re here to stay.

We all have friends who are blissfully ignorant of the watchmaking world (poor souls!), so it might be fun to ask them to name a few watch brands... Apart from Swatch, which is popular with kids from an early age, or the leading names in the luxury goods industry who also dabble in watchmaking, it’s amazing how often Rolex and Apple feature prominently in their subconscious. And for the moment, even they can tell the difference between the two...

With 18 million units sold last year, according to Fortune magazine, Apple has become the master of the game in the new world of smartwatches.

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Little now remains of the old, well-oiled and robustly constructed channels that used to convey watches placidly from the Swiss factories to their distributors and retailers, and thence to the end client. Today, what we have instead is a tangle of conduits, some electrified and some not. Some of the less well-maintained channels no longer convey very much merchandise, while the sexier pipelines link the brands directly with their end clients.

Suddenly, with digitisation, the watch industry faces such a plethora of possibilities that it doesn’t know where to turn. What is the best option, commercially speaking? Local events with loyal partners? Or would it be better to set up a dedicated e-commerce operation? And what about Instagram? How can you be sure that your “influencers” aren’t just hot air merchants? New questions require new answers. We asked two people with insider knowledge.

This period of disruption for commercial channels has provided opportunities for new actors to jump into the void, from Tmall in China to Amazon in the United States. And these newcomers have a significant stake in the preowned and/or vintage watches so highly sought after by millennials. We talked to the founder of one of the biggest watch e-commerce platforms, Chrono24, who revealed his ambition to develop a closer relationship with the brands themselves. Might we see these two worlds finally coming together?

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Bucherer’s acquisition of Tourneau is the latest sign to date of a decade. There will always be the need to hit the shops, consolidation in distribution, a move but a little less so in future (according to Bain, between towards becoming more powerful in now and 2025, around 75% of purchases will be made in negotiations with watchmaking brands real stores, and roughly 25% in virtual stores). due to the flurry of own-name stores and their new e-stores. It looks like a Get a backbone! number of small-but-innovative concept stores, run by genuine “curators”, have The question currently on everyone’s lips is not so much that of the brand store or brand e-store (whose a rosy future ahead of them. However, look set to fall), but of the future of inderetailers content with setting up shops- numbers pendent watch retailers and distribution channels. in-shops and ending up more like Under pressure from partners, themselves pressurestate agents than watch professionals, ised by a system wherein production exceeds actual consumption, leading to stock mountains, many have have more to worry about...

Dozens upon dozens of watchmaking stores, all lined up, one after the other, all virtually identical... Where might you be? Anywhere in the world! You could be in the Rue du Rhône in Geneva, Zurich’s Bahnhofstrasse, almost any street in downtown Hong Kong, the Dubai Mall, Miami’s Design District, or even Macao's luxury goods emporia.

Is this the future of watchmaking? To a certain extent, yes, but increasingly less so... E-commerce will change the situation, given the masses of watchmaking brands having opened own-name stores over the last “golden” 126

given up on what gave them their identity. They have gradually developed into mere showcases with rows and rows of display modules supplied by brands, with the inevitable loss of deals... and in the process they've abandoned their curatorship role.

What made a store such as Colette’s in Paris so successful? It's all about character! Can you imagine having, like it did, 80 USD watches selling alongside models worth thousands of dollars? There are other examples of concept stores that share this uncompromising approach, such as Material Goods in New York. In other words, places where it’s genuinely the owner who dictates his or her choices.

to the minor economic impact of those players, we become aware of their magnetic effect and of their concrete contribution to the entire ecosystem!

Yet, first and foremost, it is the takeover of the US watch dealer Tourneau by the Swiss Bucherer group this year, which gave the strongest indication that those retailers that had withstood the crisis were not going to get carried away by the next trend, namely e-commerce.

That trend is being fuelled by the increasing fascination among younger generations for buying pre-owned watches online from They are in a minority... but it’s a mi- According to Bain, operators such as Chrono24 (see our innority that could be a winner in the between now terview in this feature). The presence of long term. If a retailer decides to give Tourneau in the pre-owned market is in totally to its partners, what added and 2025, around therefore not without significance for value is left? Its network, of course... 75% of purchases Bucherer...

However, collectors do not necessar- will be made in The Lucerne-based group has thus ily appreciate “dictated” choices, espe- real stores, and emerged as a new giant in the world cially when they have growing access roughly 25% in watch market, one that demands reto information about the product and spect, a go-to name, a retailer that can its price, and are turning increasingly virtual stores. relate to its partners on an equal foottowards vintage and e-commerce.

If the watchmaking industry were a little less inflex- ing and even assert its own choices. ible, it might open the doors to more concept stores, in order to reach out in a different way to an exclusive, ultra-connected clientele. A clientele who no longer “Planning bold moves” necessarily wish to set foot inside an ultra-classic store that's more or less identical to the one next door.

The question is whether to forge alliances or conduct acquisitions to get back into a “comfort zone” and increase one’s resilience, or introduce more draconian selection measures and show more consistency Critical size for survival among the brands and models represented...

What’s missing in watch distribution these days is In this context, what role remains for the “average” retherefore some backbone, or rather... a critical size tailer (still the more common category), who depends in order to preserve identity and withstand the wide- on a limited number of brands to dress his windows? spread standardisation. Players, such as Wempe, Les And who lives in fear of an own-name store opening Ambassadeurs, Seddiqi or The Hour Glass (as well as up nearby, or, what's worse, an e-store arriving on its other less well-known operators, such as the recently territory? Watchmaking has always displayed great profiled Relojeria Alemana in Mallorca) stand out size- passivity, and not all brands are threatened by extincwise, and they not only have a varied choice of brands, tion overnight... but they would do well to plan a few but also a few independent stars, which strike a chord more bold moves, Swiss style, in the future! with collectors.

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Sponsored content on Facebook, e-commerce websites, transparent watch prices, massive investment in SEO on Google – faced with the digital tidal wave that is sweeping everything before it, the brands are at a loss as to which way to go. They're all over the place at once, often forgetting to include one key player – the retailer. The risks are as numerous as the opportunities.

They are two “digital evangelists”. These far-sighted web pioneers of the watchmaking industry have been pushing for digitisation in the industry for the past twenty years.

David Sadigh, founder of the digital agency DLG, and Arnaud Dufour, formerly IT head of e-services at Richemont and professor at the University of Engineering and Management in the canton of Vaud, began their online activities in the watchmaking sector early on – a sector that, despite what we often hear, was an early web adopter, since the first watchmaking brand websites appeared from the mid-1990s.

“They were referred to as brochure sites to start with,” Arnaud Dufour recalls, “an expression that came to have negative connotations. The idea was to present the company and its catalogue. It was no easy task at the time, because the internet was regarded as a highly technical tool, the diametrical opposite of the world of watchmaking with its luxury codes. What’s more, there were genuine technical constraints: with 256 colours and a slow connection, it was difficult to magnify the watches on the screen.”

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Incompatibility between luxury watches and the internet At the time, the aesthetics of luxury were incompatible with a computer screen. This was the golden age of glossy magazines and the web was a poor rival!

For a long time, the watchmaking industry stagnated at the stage of simple digital experimentation. “What the managers feared about the internet was that they saw a lot of illicit players usurping their brand names and diverting their traffic via the search engines,” stresses David Sadigh. “It was really the law of the jungle, and that slowed down the digitisation process.”

The expert sees several reasons why the watchmaking industry did not go digital as rapidly as might have been imagined: “Even when consolidated into groups, the brands knew very little about the end customer. At the time, they felt that the retailers themselves should take charge and develop the approach to the customer.” And the unprecedented growth that the industry was posting in the 2000s was unlikely to make them change their strategy .

The iPhone, social media and e-commerce threesome

Arnaud Dufour

“It would be a good thing if the brands finally assumed their responsibility for their historical distribution network in relation to the internet.

Given the way e-commerce has developed for quite a few brands, you can’t deny that the business decisions they took were not to the advantage of the retailers. Yet they’re supposed to be partners.”

For a long time, growth in the watchmaking industry was cut off from the technological leaps that were so radically changing the times. It continued to function through traditional distribution channels. But gradually, and in disorganised fashion, the industry followed its customers’ changing and increasingly internet-focused behaviour.

Because that was where the money was. The crumbling global economy, falling watch sales in China and the resulting crisis in the industry – a huge build-up of stocks right at a time when the brands had massively invested in their own sales boutiques – also brought about a change of direction towards digital platforms, with pressure coming from shareholders of groups listed on the stock exchange.

“The first real turning point came with the introduction of the iPhone a decade ago,” is David Sadigh’s analysis.

“That was when the luxury brands noticed that their wealthy customers were massively adopting that quality interface.” The brands’ top managers themselves were avid converts to the smartphone: “The bosses realised it was easy to publish content on the internet. The impression up to then had been that it was reserved for geeks. It was a major psychological turning point.”

“What’s more, it triggered an organisational crisis among the IT and marketing teams of the watchmaking companies, because the top managers wanted to be able to consult the brand’s emails and website from their iPhones or iPads,” adds Arnaud Dufour. It was the start of a change of mindset among both the brands and their customers.

The growing social media bubble Another crucial factor, also helped along by the iPhone and digital mobility, was the emergence and rapid rise of social media to the point where today we are justified, after the initial digital bubble of the new millennium, in talking of a second “internet bubble”: that of social media. Media planning evolved as a result. Until then, the press had been the prime vector for communications in the luxury sector.

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But beware of received ideas. According to the WorldWatchReport published by DLG in 2017, the most effective online communications vector today, in terms of traffic generated on watch boutique sites, is neither Facebook nor Instagram nor Snapchat – but the good old newsletter! “Emailing may be less glamorous, but it’s still more effective,” underscores David Sadigh. “The fact that today everybody is addicted to Facebook and Instagram creates false perceptions.”

Transparent prices – no longer taboo?

A third turning point concerns e-commerce. “So the idea of communicating online became feasible,” emphasises Arnaud Dufour. “But the idea of selling over the internet, or even displaying prices online, was really taboo for a long time.” Yet there were categories of customer who were prepared to buy luxury watches, or at least conduct part of the purchasing process, online. “Collectors bought or pre- bought watches over the internet, for example if a model wasn’t available in their geographical region. The psychological barriers were shattered.”

Notwithstanding this, the e-commerce revolution came “from the bottom up”, since – logically – it was the entrylevel brands, most of them non-Swiss-made, that first began selling their products online. But the explosion of the pre-owned market and the emergence of new e-commerce giants, such as Chrono24 (Ed.: see our interview in this folio) were also game-changers.

A mixed bag of initiatives But let us qualify that remark. Not all the brands have switched to e-commerce, even if numerous announcements to that end have been made – one example is Omega’s investment in its sales platform in the United States last year. “For many players, the internet is first and foremost a communications tool,” Arnaud Dufour believes. “But it is by now accepted that the internet is part and parcel of the run-up to purchasing, even if most of the actual purchases take place in the ‘real world’. The major analysts are all anticipating that by 2025, 20-25 percent of sales transactions will be conducted online.”

Obviously, physical boutiques are as important as ever. But consumers get their information online and purchase in boutiques, or vice-versa. Hybridisation is the order of the day, known in marketing-speak as “omnicality”.

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Arnaud Dufour: “There are still some big players who haven’t crossed over to e-commerce. Rolex is one emblematic example, even if the fact that it displays recommended sales prices on its site shows that it’s evolving. If those players started selling online, figures would shoot up.”

Retailers left out in the cold But what hurts is how the distribution networks have been left out of the brands’ digital projects.

Since the mid-2000s, the watchmaking groups – especially the Richemont Group brands, but also players like Omega, part of the Swatch Group – have opened a jaw-dropping number of their own boutiques all over the world. A strategy born of their desire for “symmetry” – to control both production upstream (by acquiring suppliers) and distribution downstream (by opening their own sales outlets).

“This rollout also promoted the role of the internet,” David Sadigh believes. “The objective was to channel traffic into these new, expensively rented boutiques, which did not have the advantage of the historical networks of the local retailers.”

Indeed, since being “connected” is a real buzz word today, we should also underscore the brands’ desire to have a direct connection with their end customers.

And the resulting bypassing of intermediaries. This development has called into question the brands’ historical partnerships with their retailers, both physical and digital.

An attitude that is more “destructive than constructive” “As far as retailer digitisation is concerned, we have to differentiate between two types of player,” David Sadigh believes. “First of all, you have retailers with a very local customer base, often going back several generations and with limited means. For them it’s difficult to find the budget or develop online expertise. Then you get the larger retail chains, who have more chance of launching online initiatives with the support of the brands. Both are being confronted with new kinds of customer behaviour, heavily influenced by digitisation.”

Arnaud Dufour points the finger at an attitude on the part of the brands that is more destructive than constructive for their retailers: “It would be a good thing if the brands finally assumed their responsibility for

David Sadigh

“The first real turning point came with the introduction of the iPhone a decade ago.”

their historical distribution network in relation to the internet. Given the way e-commerce has developed in the case of quite a few brands, you can’t deny that the business decisions they took were not to the advantage of the retailers. Yet they’re supposed to be partners.”

The expert goes on: “If the watch brands really wanted to support their networks, they could! For example, they could suggest to a customer who lives near an authorised dealer to have the product delivered there.

That would strengthen the bond with both the customer and the partner. But they don’t do it, as far as I know.

Most of the time, the retailers are not integrated into the brands’ digital strategy. Instead, the brands tend to use digitisation so they can have their cake and eat it.”

Integrating digital strategies into discussions with retailers How can we change the game? “I argue in favour of shared ownership of customer data between a brand and the retailers, for example. That would be a real strategic decision that can only come from the CEO. Such a joint customer database would be developed by both partners, for example by sending out joint newsletters. A genuine digital strategy that includes the retailers would reassure them.”

Because numerous prospects are opening up: “Customer data management software is really in its infancy,” is Arnaud Dufour’s analysis. “The same goes for online after-sales service. The idea of virtual communities or clubs turned out to be a damp squib.

Everything needs to be done from scratch. So why not include the retailers in these processes?”

Like a headless chicken...

But should the brands invest first in renovating their websites? Or promoting their social media? Or launching an online boutique? The sheer number of options

makes your head spin! Ultimately, you get the impression that the brands are exploring any number of paths, at a loss what to do faced with so many online tools.

There are so many possibilities that too many brands seem to be shooting in all directions at once, investing a little (or a lot) in everything, rather than concentrating on one, clear-cut, digital strategy. A bit like a headless chicken that goes zigzagging in all directions.

And they are not all shooting together: “All the brands are stepping up their digitisation, but not all at the same pace,” underscores David Sadigh. “It often happens that the large budgets allocated specifically to digitisation are not used optimally. The problems most frequently encountered are related to the purchase of key words that cannibalise organic traffic, advertising banners that generate low-quality traffic, or too much energy poured into the social media.”

Social media: all vanity?

While social media are very worthwhile showcases, the specialist says he often observes that the brands are ignorant of the real profile of the followers on Instagram.

They rush to attract fans without any kind of in-depth reflection about how to convert fandom into sales, by redirecting fans to the retailers, for example. “One typical trap that the brands fall into is to rush about in every direction and give priority to quantitative results without having established a clear strategy and targets beforehand.”

Whatever strategy they choose demands serious investment, stresses Arnaud Dufour: “We’ve been living with the false assumption that the internet is free. But an e-boutique is expensive to set up and run.

Even if its cost structure and the economies of scale it allows are peculiar to it, just like any physical boutique it demands qualified staff, stocks, tools and a push for visibility.”

For him, the brands’ forced march – reluctant and tentative – towards digitisation is still being undermined by a fundamental fear anchored in some corner of their managers’ brains: fear for the very survival of the classic wristwatch with the advent of the smartwatch. “And they’re right to be wary, because as far as applications for smartwatches are concerned, we ain’t seen nothing yet.” Even if the market still appears to be segmented (see our interview in this folio), this fear of a loss of identity has generated a profound distrust, conscious or subconscious, of the tidal wave of digitisation that seems to be sweeping all before it. (SM) 131

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Chrono24 is one of the main new actors of the watch market in the digital age.

This leading global online marketplace for buyers and sellers of vintage and pre-owned watches, a German company with offices in Asia and the USA, is now aiming for a higher goal: convincing the brands themselves, which have been quite wary until now, to also sell their own watches directly on the platform. With around one million registered users making transactions worth a billion euros annually, Chrono24 is sitting on a gold mine of data – meaning actual buyers of watches – to try to win their hearts and minds Among the main new actors that appeared with the advent of the internet era, Chrono24 has established itself as a leading global marketplace for buyers and sellers of vintage, pre-owned and, increasingly, new watches. Brands as diverse as Frédérique Constant, Porsche Design and Louis Moinet have indeed opened their own selling platforms on Chrono24. More brands will follow, says the company.

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Is it the beginning of a closer relationship between the pre-owned market, which has been booming online this last decade, and the contemporary market, which has been struggling over the last three years and is now rushing to develop e-commerce solutions?

More than 2,000 dealers already sell watches online on the platform, which is hoping to gain more leverage with global watch collectors. This is why Chrono24, which employs more than 150 people from Germany to New York and Hong Kong, for yearly transactions of a billion euros thus organised a first “get-together” last January at its headquarters in Karlsruhe, Germany.

“The event attracted more than 30 collectors, some of them from as far away as London or New York. We will now move forward with organising these kinds of meetings in other parts of the world and on a more frequent basis,” says Tim Stracke, co-CEO of Chrono24.

Europa Star met him in order to better understand how the platform works, and what it hopes to achieve.

Could you share with us a few numbers about Chrono24, to give us a clearer picture of the platform? Such as the volume of transactions by year, the number of unique users, number of dealers, etc We assume that one out of three watch lovers worldwide uses Chrono24 from time to time. And we assume that almost all collectors that use the internet also use Chrono24. When we talk to dealers, it almost never happens that they don’t know us. We attract between 10 and 12 million visits per month on our platform.

In 2017, the transaction volume generated through Chrono24 was one billion euros. And it is growing by around 25% per year.

What is the profile of the watch buyers, on one side, and the sellers, on the other?

Almost all watch acquisitions are made by private individuals. People use Chrono24 for inspiration, to compare prices, to get information and ultimately to buy or sell watches. On the sales side, more than 90% of sellers are professional dealers. They include established names like Govberg in the USA. We have 2,400 dealers registered and active on Chrono24.

What is the average price of the timepieces traded on the platform?

It lies between 7,000 and 9,000 euros. The prices start at a few hundred euros, up to more than one million euros. Watches that are really expensive are usually not transacted directly through Chrono24. They still use our platform find the watch and communicate, and then operate the transaction on their own.

How does your business model work?

It is a mix of listing fees and transaction fees. Our current goal, however, is much less about generating revenue than about increasing the user base and expanding the platform through partnerships with brands and the sales of new watches. The main benefit for brands who join us is that they have access to a global user base through Chrono24, and can convey their very own message to these users.

Could you tell us more about the growth of the business of selling pre-owned watches online since you started, just a few years ago?

Chrono24 was founded in 2003. We have always focused on listing as many watches as possible, and this has attracted many sellers and subsequently buyers onto the platform. It has made us the global player for buying and selling luxury watches online.

TOP 10 MOST SEARCHED BRANDS ON CHRONO24 AMERICAS

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1. Rolex 2. Omega 3. Patek Philippe 4. Breitling 5. TAG Heuer 6. Audemars Piguet 7. Cartier 8. Hublot 9. Panerai 10. IWC Schaffhausen

1. Rolex 2. Patek Philippe 3. Omega 4. Audemars Piguet 5. Panerai 6. IWC Schaffhausen 7. Hublot 8. TAG Heuer 9. Cartier 10.Breitling

1. Rolex 2. Omega 3. Breitling 4. Patek Philippe 5. Audemars Piguet 6. IWC Schaffhausen 7. TAG Heuer 8. Cartier 9. Panerai 10. Jaeger-LeCoultre 133

But we are not only a marketplace. We are also a platform that holds a lot of information and data about its users. We want to use this information to help our users find the best watches. Now, we know pretty well what the users like, looking at their search profile and what they have bought. We have also introduced a feature where buyers can upload their existing watch collection so that we can make tailor-made suggestions to them.

Do you share this data with brands?

First of all, we take private data protection very seriously. We do share metadata with brands, to give them deeper insights into their industry. We also help them to get access to watch lovers and collectors worldwide – but we won’t and are not allowed to hand over any personal data to them. For instance, we know that when someone is looking for a certain model, he might also like another model.

Imagine you go to a store and you say that you are interested in an Omega Speedmaster, and the seller presents you some Speedmasters, as well as, based on our research, watches from other brands with the highest

KEY NUMBERS ABOUT CHRONO24

Tim Stracke, co-CEO of Chrono24

"We are not only a marketplace. We are also a platform that knows a lot of information and data about its users."

proximity. It is purely based on data. It gets increasingly interesting for the watch brands, even though they might not publicly work with us on our platforms.

How do you intend to convince them to move to an official partnership?

More and more established watch brands do want to work directly with us, because of our global reach to potential buyers, but they also realise that it is sometimes easier to convey the brand message via the internet than in the store.

A lot of brands have a strong heritage and the question is: are all salesmen able to talk about it to potential buyers? In many cases, the founder or the watchmaker of the brand can do it much better and more emotionally, using videos and images. It is sometimes better than talking to a seller, who might not know the brand very well.

• 10-12 million visits per month • 1 billion euros in transaction volume generated in 2017 • 2,400 professional dealers registered • More than 90% of sellers are professional dealers • 100,000 watches bought/sold through Chrono24 in 2017 • The most expensive watch ever sold through Chrono24: a Patek Philippe Sky Moon Tourbillon, for more than one million dollars

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But will buyers of pre-owned or vintage watches convert to buyers of new watches?

Chrono24 already has the categories of vintage, preowned and new watches. The biggest by far is the vintage and pre-owned watch segment, but we are trying to develop the new watch segment as well. We are already working with brands that want to directly sell to our users.

Some brands do it openly in our newly established brand boutiques; other brands just advertise on our platform or work with us in other ways to build a direct bridge with the potential customer. For example, if a really exclusive brand wants to host a collectors’ dinner in Dubai or Tokyo, we can easily invite 20 to 30 people in the city, who have a very strong tendency to buy this brand or who have bought similar brands in the past.

COME AND VISIT THE FRENCH BRANDS AT BASELWORLD 2018

WATCHES Briston Clyda Go, Girl only Jean Paul Gaultier Lip Michel Herbelin Pierre Lannier Ted Lapidus Thirsty

2.0 C41 2.0 C75 1.1 A88 2.0 C75 1.1 A88 1.1 A51 1.1 A22 2.0 C75 2.0 C75

WATCH GALLERY

Hall 1.1 - Les Ateliers

Aight Berthet depuis 1888 FOB Paris Fugue Halchimy Hexagonale Jourdan MW&Co Phenomen Saint Honoré Utinam Yema Yonger & Bresson

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1.1 W34 1.1 W19 1.1 W21 1.1 W05 1.1 W33 1.1 W37 1.1 W17 1.1 W36 1.1 W16 1.1 W04 1.1 W39 1.1 W31 1.1 W32

JEWELLERY, PEARLS AND STONES A. Girard Alain Boite Eol Garaude Guy Laroche Lore Marc Princ Marcel Robbez Masson Messika Paris Murat Paris Oressence Paris Piat

2.1 B51 3.1 D25 2.1 B51 3.1 A09 2.1 B51 2.1 B51 3.1 A05 2.1 B51 1.1 D55 2.1 B51 2.1 B51 3.1 C41

Watch brands are very cautious about the pre-owned market, which may look like a “parallel market” jungle… What kind of relationship are you trying to establish with them?

MOST POPULAR BRANDS

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We are in talks with almost all brands and are discussing potential ways of working together. Some brands are already openly selling on Chrono24, others use a partnership to connect to potential buyers worldwide, and we are just opening discussions with yet other brands. But there are very few brands that are ignoring us, and not looking for a discussion at all. We are open to discuss with all brands. But maybe we still need a few big names working openly with us, to overcome the psychological barrier.

You know the watch buying habits of millions of people around the world. How do you collect this data?

We know from our users what their core interest is by looking at their search behavior, and we use this to make better suggestions. We also gather data when users upload their existing watch collections.

But the brands that join your platform would also get access to data… and what about other brands that are not on your platform but which are interested in your data?

We are open to all kinds of partnerships.

What measures do you take to avoid counterfeits, a phenomenon that we see a lot online?

We do careful due diligence on all the dealers that join the platform, in order to be sure we keep only the best ones. In addition, when you buy a watch on Chrono24, we hold the money in an escrow account until the watch is safely delivered to your home. Only when you say that you are happy with the watch do we release the money. Otherwise, you get your money back. It is very rare that a watch is really fake: there have been fewer than five returns over the last few years because of authenticity issues. And more than 100,000 watches are being transacted through Chrono24 per year.

We would rather kick a dealer off the platform than risking having a single fake watch.

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Another issue is when watches are not in the promised condition…

That is also part of our policy. You can return any watch that has been bought on Chrono24, no questions asked.

But very few watches are actually returned: very low single digits. The most common reason for returns is that the watch is not as it was described on the platform.

Only around 1% are returned without a specific reason, just because the buyer does not want it anymore, mostly because the watch is a bit smaller than expected, not because it is fake or damaged! Our total return rate is less than 5%.

Indeed, the “touch and feel” experience remains important when it comes to watches, to avoid the situation where you don’t realise until it has been delivered to your home that the watch is too small. Have you thought about ways of displaying the watches or organising meeting places for the buyers and sellers, like physical “lounges” in major cities?

We are indeed considering all kinds of measures to bring people together and to build trust during the transactions. Chrono24 is a lot more than a digital market place. We are also considering developing logistics services. There are a lot of developments to come yet.

9% Omega 5% Breitling 4% Patek Philippe 4% Audemars Piguet 3% TAG Heuer 3% IWC Schaffhausen 3% Cartier 2% Panerai 2% Hublot

Could you attempt to outline a profile of the average buyer and seller on Chrono24?

What is your after-sales policy, working with all these dealers?

The precise warranty policy really depends on the brand and the individual dealer, but if you sell on Chrono24 as a dealer, you must offer a return policy.

Have you been affected by the industry-wide decline of recent years?

There are basically three factors that affect us: the overall state of the watch industry, the shift from offline to online, and the shift from new watches to pre-owned watches. The two latter elements are such a massive force in the market that we didn’t really notice the decline of demand in China. Today, all three factors help to drivee our growth. So we have experienced constant growth over the last 10 years. By the way, Hong Kong is one of our strongest markets on the sales side, and we see a lot of growth potential on the buying side in mainland China.

We assume that 80% of our customers are male and the majority of our users are aged over 25. And, looking at the average purchase price, they must be relatively affluent…

Do you think we will end up in an industry with more watch sales online than in boutiques? It is probably already the case for second-hand watches...

Online sales will not go away. Neither will offline boutique sales. But we will most likely keep seeing a massive shift from offline to online. On the other hand, I assume that people who buy online want to have some advantage in doing so. For the pre-owned segment, price transparency is a huge advantage. When people buy a new watch using the brand’s own e-commerce platform, they might demand a better price or a better service, because there is no intermediary and a bigger margin for the brand.

But that’s not all. Some brands are already quite creative. For instance, when they offer a private stay in a nice hotel combined with the pick-up of the watch, as well as an interesting discussion with the watchmaker. Just putting the watches online might not be enough, where e-commerce is concerned. (SM) 137

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Through the years, the number of partnerships has steadily grown, and each one has become a powerful tool of communication and storytelling. However, certain companies have decided to enrich and develop the concept.

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We’ve seen so many stars posing with a luxury watch on their wrist and being handsomely paid for the service that we've forgotten one thing: if these personalities have risen to the peak of their art, they must have talent. So why not make the most of it from now on?

Ambassadors 2.0 directly participate in product development, which can also reduce the risk of the discrepancy – or even sheer hypocrisy – associated with a purely financial agreement.

In the last few years, ambassadors and partnerships have become legion in the watchmaking world, from cinema stars to famous athletes to celebrity chefs.

At the beginning of this type of collaboration, partnerships actually went beyond simple brand awareness operations: they reflected major technological breakthroughs. Take the example of Omega, which collaborated with NASA in 1969 to develop its Speedmaster “Moonwatch” which accompanied Neil Armstrong and Buzz Aldrin in their space conquest. In different field, Rolex also got involved in the first ascent of Mount Everest in 1953 with the development of a unique watch that would become the ancestor of the Rolex Explorer.

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Today, there are two distinct types of collaboration: • Partnerships based on values (or passive collaborations), which highlight a brand or product through an ambassador who shares the brand values, but who is not particularly involved in the development process.

• Co-creation partnerships (active collaborations), which go beyond image coherency to result in the development of a new product: a partnership both in technical terms and in terms of the aesthetic and design dimension.

A few concrete examples illustrate the difference between the two.

Hublot & Lapo Elkann The collaboration between Hublot and Italia Independent, led by eccentric director and co-founder Lapo Elkann, has given rise to several far-reaching projects since 2014.

The play on textures, materials and decoration – as well as the entrepreneur’s creative strength – join forces with the expertise of the Swiss watchmaking brand to capitalise on this partnership, bringing forth a number of bold projects with a resolutely Italian style.

The two organisations are thoroughly involved in the development of these unique collections. Each one brings its own expertise to the table, and the result is an absolute alchemy. The unusual personality of Lapo Elkann showcases this synergy to breathe life and backstory into the creations while maintaining the brand’s codes.

TAG Heuer & Alec Monopoly The master graffiti artist Alec Monopoly joined forces with the famous watchmaker TAG Heuer to become the brand’s “artiste provocateur”. The artist was given an opportunity to express his creativity with a totally reworked “Formula 1” watch model. By decorating the dial with an ironic self-portrait and brand iconography, Alec Monopoly was able to bring his sardonic touch to the brand's new creation.

Rolex & Deepsea Challenge Through a partnership with the famous expedition Deepsea Challenge by the film director and world explorer James Cameron, Rolex supported one of the most ambitious maritime operations of the decade.

This collaboration enabled engineers to develop an experimental watch able to sustain the strongest pressure of the ocean depths while being worn on the human wrist. Equipped with this watch, the submarine descended for more than seven hours to a depth of 10,908 metres within the Mariana Trench, the deepest part of all the world’s oceans. It surfaced with a watch that had maintained the exact time throughout the expedition.

This collaboration enabled Rolex to take advantage of a widely publicised event and to get more specifically involved in the creation of a technically new product.

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Rado & Konstantin Grcic

Richard Mille & Rafael Nadal

The Swiss watchmaking brand reinterpreted its famous Ceramica model through a partnership with a famous German designer. The watch was redesigned

by Konstantin Grcic, and it grew into a full collection in a brilliant combination of shapes and materials.

Following the success of this operation, the company decided to take the collaboration strategy one step further. By calling on the services of six designers from a variety of horizons, Rado reinterpreted several of its emblematic products with innovative designs. The designers have become brand ambassadors, and in turn their expertise is showcased through the creations.

Richard Mille capitalised on a long-term partnership with the famous tennis player. In addition to the obvious visibility that the athlete provides to the brand, the collaboration has resulted in a co-creation process with a view to developing tennis watches equipped with a tourbillon regulator. The partnership has also led to several world records, including the world’s lightest watch and the world’s most resistant watch.

Two types of partnerships destined to coexist

Although partnerships with prominent personalities generate visibility and commitment, sometimes they are not enough!

Yes, even the oldest ambassador of the Omega brand, The profusion of operations, the overexposure of prodCindy Crawford, can be called upon to contribute... ucts and the lack of depth inherent to certain partnerThe model has been developing a very ships reduce the impact and differpersonal collaboration with the watch Co-creation entiation brought to each brand and company for more than 20 years. What company, although such partnerships partnerships was initially a simple image-based can still generate considerable visibility. partnership has become a collabora- (active An active collaboration between the tion on a whole new level. In addition collaborations) ambassador and the company makes it to participating in promotional cam- go beyond image possible to lay additional groundwork paigns, Cindy Crawford was actively coherency to result for storytelling, providing stronger involved in the design development brand identification in the minds of in the development consumers. of the Constellation watch collection.

The relationship even became a family of a new product. affair when her children became amThe success of such partnerships therebassadors; and the actress has participated in humani- fore depends on a two-level strategy: tarian actions alongside the brand.

• The "principal" ambassadors are associated with a brand in a co-creation dimension, forming that forms the basis of the strategy. They also enable companies Hublot & Richard Orlinski to stand out in the eyes of target clientele in terms of Through a collaboration with Richard Orlinski, Hublot content and fan involvement. carried off more than a simple communication opera- • The second level includes all the partnerships that tion with the world’s best-selling contemporary art- simply aim for visibility, increasing the brand’s presist. Together, they brought forth an artistic creation: ence with very influential personalities and/or platthe Classic Fusion Aerofusion Chronograph Orlinski. forms.

Representing Richard Orlinski’s graphic universe, the These two forms of partnership are therefore deswatch design is based on plays on angles and reflec- tined to coexist, since they mutually promote each othtions. This creation constitutes the encounter between er. However, beyond image associations, we are faced the artist’s Pop-Art with the brand’s pursuit of perfec- with the eternal question of the luxury industry: how to turn these partnerships into real profits? tion and use of exceptional materials.

Omega & Cindy Crawford

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Horological research, which for many years remained an intuitive discipline restricted to the watchmaker’s bench, has moved into the domain of science and technology. All the big groups have their own laboratories, and they’re filling their R&D departments with researchers from other fields. Research is blossoming in the search for new materials, non-Huygensian regulators, and hitherto undreamed-of mechanical solutions with abstract-sounding names like “compliance” or “origami”.

On the manufacturing front, similar phenomena are at work: robotisation, the mechanisation of tasks previously performed by human hands alone, and automation are making giant strides. These days, excellent mechanical movements capable of passing COSC certification can be manufactured entirely by robots.

Mechanical watchmaking is transforming itself, hybridising... but we certainly haven’t heard the last of it. Electronics have penetrated to the heart of the most complex mechanisms, auguring a future of “augmented” mechanical watches.

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Watchmakers tried, prototyped, disassembled, reassembled and tweaked until it worked – like clockwork. That was then.

Now, watchmaking no longer revolves around the watchmakers.

Laboratories are the hub of progress.

Have the Swiss learned the lesson from quartz? Fifty years ago, in 1967, the world’s first quartz wristwatch was born in the laboratories of the Watchmaking Electronics Centre (CEH), the ancestor of today’s Swiss Centre of Electronics and Microtechnology (CSEM). The Swiss were quartz pioneers, but the watchmaking sector itself was structurally not prepared for an industrial-scale rollout of this major innovation.

The Japanese, however, with their already well-honed tools, were ready to up the pace. The result was that the world was overrun by Japanese quartz, and Swiss watchmaking was seriously rattled to its very foundations. It took nearly twenty years to restructure and recover. And it did this in particular thanks to the first watch manufactured entirely by robotic production: the Swatch.

Today, when the industry is moving in any number of new directions, the watchmaking groups seem to have learned the lesson and are all equipping themselves 144

with laboratories aimed at ‘seriously stepping on the innovation gas’, as Edouard Mignon, research and development coordinator at Richemont, recently put it to Valère Gogniat of Le Temps daily newspaper.

Richemont at the Microcity business cluster The great difference between now and the quartz era is that the laboratories and R&D units, which used to be on the industrial, manufacturing periphery of watchmaking, have now taken on strategic importance and moved right to the hub. Research has become a crucial issue, almost a matter of survival. White-coated lab technicians now take the role once occupied by master watchmakers: they are the ones who supply the protocols.

The recent slew of announcements of investment in research centres is no coincidence. Richemont has announced that it is opening a research centre with around fifty of its engineers at the heart of the Neuchâtel science and technology park, Microcity, which already hosts a department of the EPFL (Ecole Polytechnique Fédérale de Lausanne), Neuchâtel University, CSEM, the HauteEcole ARC engineering school and the business incubator, Neode. Its programme: a ‘quest for dependability and performance’, driven first and foremost by ‘priority’ tribology laboratory facilities and research focused on materials, new manufacturing processes (including, almost certainly, robotics), the development of new, specialised mechanisms, micro-machining (in collaboration with EPFL), connectivity and other topics.

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Guy Sémon, chief researcher at LVMH As for LVMH, it has just given official status to its ‘Research Institute of the Watch Division’ by appointing Guy Sémon, ex-CEO of TAG Heuer, as its head. This appointment came as no surprise to this scientist, physicist and mathematician, who is forever seeking to ‘theorise mechanical watchmaking from A to Z, which no one has ever really done before,’ he tells us.

His appointment is the logical culmination of a methodical and scientific process applied to watchmaking with the help of multidisciplinary teams and initiated some fifteen years ago with the development of the famous micro-belt-driven watch, the Monaco V4. There ensued the chronographs to 1/1000th and 5/10,000th of a second, the TAG Heuer smartwatch and, most recently, the Zenith Defy Lab that took watchmaking out of the realm of Huygensian regulation. The fact that this scientist, who set out as a complete stranger to the singular world of watchmaking, became an industrialist at the helm of TAG Heuer before taking charge of this new institute, is cogent proof of the crucial importance now placed on research.

Research: an integral part of every echelon of the Swatch Group By its very structure, the Swatch Group is a prime example of a self-contained, vertically integrated industrial group with a foot in both mechanical watchmaking and electronics. It placed R&D at the centre of its business a long time ago.

Its business unit named Swatch Group Recherche et Développement SA was founded back in 2005. Today, it includes three separate divisions, Asulab, Moebius (lubricants) and CDNP (Centre for New Product Development).

Asulab ‘comprises all the technical fields required today for the development of sophisticated modern timing products’. A veritable R&D laboratory for the member companies of the Swatch Group, Asulab is active in microtechnology, microelectronics, telecommunications, displays, sensors and actuators, as well as in materials and process engineering. It develops products, subsystems and technically innovative watch components and the necessary manufacturing technologies.

Without this ‘laboratory’ and the close integration of design and manufacturing, it would have been difficult to produce objects such as the robotic Sistem51 movement, now part of the more upmarket Tissot range and soon to gain added complications. The same Sistem51, 146

incidentally, is opening up new prospects for the mass production of mechanical movements.

Researchers join forces on silicon The major independent brands, such as Rolex and Patek Philippe, are not lagging behind. Both are members of the Board of Directors of CSEM, the watchmaking branch of which also includes the Swatch Group and Richemont International.

In the wake of research initiated by Ulysse Nardin, Rolex, Patek Philippe and the Swatch Group had already teamed up at CSEM to conduct joint research which culminated in the production of watch components in silicon. Besides CSEM, the watchmakers have also set up numerous partnerships for research and training with the EPFL. One example is the Patek Philippe Chair in Micromechanical and Horological Design, inaugurated in 2012 and otherwise known as Instant LAB. Its stated goal is ‘the creation of new mechanisms featuring kinematic and technological innovation at the centimetre scale’. At its head, Professor Simon Henein, who has a string of collaborations and partnerships with industry to his credit (Audemars Piguet is one example), is conducting a series of research projects on regulation as well as on the forms, functions, interactions and flexibility of mechanisms.

This is only the beginning The fact that Rolex has lent its name to the Rolex Learning Centre – the unique, wave-shaped library and knowledge agora that undulates at the centre of the EPFL campus – once again speaks worlds about how much store this high-calibre watchmaker now sets by laboratories.

Indeed, no watchmaker today, even the independents most fanatically attached to their watchmakers' benches, can afford to pass up on research. Because, contrary to what we often hear, mechanisms ‘at the centimetre scale’ are not dead by a long chalk. They have shrunk to the nanometre scale (on this, see the research by Greubel Forsey), vibrate, fold and unfold, are made of previously unheard-of alloys, are hybridising or even becoming ‘liquefied’ (HYT). Research into new materials has opened up vast perspectives – to which we shall be coming back in detail in our next issue.

So how will the watch of the future look? The answer will most certainly be found in the recesses of some laboratory before it arrives on the watchmaker’s bench.

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Mechanical watches are currently accurate enough to satisfy our everyday needs for precision. Their appeal lies elsewhere. Innovation is not so much a matter of necessity as of possibilities. Because thanks to laboratory research, the Huygensian age could now be over – and a new, lucrative era opening up.

Technologically obsolete, the art of watchmaking continues largely thanks to the appeal of its ingenious exploits. But even doubling, tripling, or quadrupling tourbillons is becoming old hat. Audiences are getting bored. In the seventeenth and eighteenth centuries, watchmaking marched in the vanguard of science; it was a tool for basic research into navigation, astronomy, ballistics and chemistry, to name just some examples. But what if mechanical watchmaking – based on a whole new kind of mechanism – returned to the forefront of science?

Research conducted in recent years is now resulting in actual products which brilliantly demonstrate that mechanisms are not dead by a long chalk – and that a complete renaissance is possible.

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The leads being pursued in this renaissance are many and varied: at HYT, they take the form of liquids and capsules, at Zenith, carbon nanotube balance springs and a new, monolithic regulator. Greubel Forsey is conducting advanced research into nanotechnology, while Dominique Renaud is focusing on micro-pivots and blades. And those are just some examples, because other brands have also begun research into regulators.

Besides these, new, ‘compliant’ forms of mechanism, together with origami mechanisms, are opening up truly new prospects, although these have so far been confined largely to the laboratory. But combined with advances in robotics, they could well be ushering in mechanisms so radically different that it is hard to predict how mechanical watches will look in ten years’ time. If they still exist at all.

The regulator revolution: Zenith Defy Lab Yet most of the research which is attaining actual implementation today in the shape of marketed products covers the actual regulator and not the power supply, which remains largely traditional – a barrel and wheel train. This is the case of the Zenith Defy Lab, or at Dominique Renaud, for example.

With the totally innovative oscillator of the Zenith Defy Lab, Guy SĂŠmon and his multidisciplinary teams at LVMH have chalked up a major advance by successfully combining the 31 or so parts of a conventional regulating organ into one single, monolithic component in monocrystalline silicon, 0.5 mm thick. No need for assembly, adjustment or lubrication. It uses considerably less power and is virtually unaffected by incidental variations in power and position.

It is accurate to around 0.3 seconds a day and this remains consistent during 95% of its power reserve. Moreover, this oscillator is unaffected by gravity, magnetism and temperature.

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Greubel Forsey Mechanical Nano

The regulator revolution: the DR-01 from Dominique Renaud The regulator solution put forward by Dominique Renaud with his recently unveiled DR-01 is quite different, but also opens up interesting prospects. A microscopic, unbreakable ‘spatial pivot’ supports a heavy ‘balance’ with high inertia, the balance spring being replaced by a ‘spatially pivoting blade resonator’.

Razor-sharp blades mounted on notched, spherical rubies vibrate synchronously with one another with minimum friction and, consequently, a power loss virtually equivalent to nil. The crossbow-shaped resonator spring that holds the sharpened blades in place assumes the role of balance spring. The balance, twenty times heavier than a traditional balance, rotates freely, driven by a single-impulse detent-type escapement system, called ‘lost beat’. This escapement is such that for one impulse, there are 9 lost beats. Which means that it is capable of vibrating at extremely high frequencies.

This ensemble – the unbreakable micro-pivot, spatially pivoting blade resonator and detent-type lost-beat escapement – represents numerous advances and can genuinely be described as revolutionary. With a total amplitude of 340 degrees between each impulse and a record frequency that can ‘easily attain’ 12Hz (84,600 vibrations/h), its very low power consumption, ‘unprecedented’ power reserve (we’re talking of weeks) and its superlative chronometric performance, the 150

DR-01 Twelve First really is opening a whole new chapter in the history of watchmaking.

Or even a whole new book. Because Dominique Renaud’s ambition over the next few years is to present twelve different prototypes of the DR that will shake the very foundations of mechanical watchmaking, which were thought to be immutable.

The nano era: Greubel Forsey As for Robert Greubel and Stephen Forsey, they are exploring the astonishing possibilities of nano-mechanisms. At the 2018 SIHH, the duo showcased a fully implemented prototype of their Nano Foudroyante EWT. This nano-foudroyante consumes 1,800 times less power than a ‘normal’ foudroyante, and the space this nanocomplication occupies has been reduced by 96%!

“Saving that much power and space opens up whole new vistas,” explains Stephen Forsey. “By saving that much power, we can achieve power reserves of up to 180 days, at this stage in our research, with a normal-sized barrel. What’s more, we can use the energy produced by internal air turbulence – in other words, put draughts to practical use. That means that a propulsion wheel

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can work with 20 nano-newtons of energy, 100,000 less than the power it takes to drive an escape wheel.”

Contrary to what you might imagine, working at the nanometric level (there are one billion nanometres to one metre) does not mean working with the same components in miniature. Far from being a micrometric ‘reproduction’, passing from the one-tenth or one-thousandth scale to the one-billionth scale allows you to completely redesign a movement’s energy and space distribution.

The space this frees up – huge, the size of a watch movement – means you can start imagining functions as yet unheard-of. So – what kind of functions? “This space is just opening up and it’s forcing us to think about what we’re going to do with it,” replies Stephen Forsey.

“We’ve already placed a frequency indicator in it, but what else? It opens up unprecedented prospects for creativity and functionality.”

LVMH is going for folding mechanisms But that’s not all. The mechanisms of the future still have plenty of surprises in store. The scientific research done by Guy Sémon at LVMH led him to explore ‘compliant’ mechanisms. This new mechanical theory is used in robotics, particularly, to conduct tasks that require very subtle amounts of force. It sets new premises and creates new associations no longer based solely on the interaction of different, rigid parts, but made possible by the use of flexible materials.

It is this new theory that has allowed an assembly of different fixed or mobile parts to be replaced by one monolithic structure.

Compliant mechanics open up the possibilities of designing origami mechanisms capable of folding and unfolding. Still the reserve of robotics research for the moment, it has already resulted in the design of minirobots that are able to change shape autonomously.

From there it’s just one step – yet to be taken – to completely new kinds of watchmaking mechanisms, for example in the shape of a ‘flower’ that opens and closes.

Liquids and capsules at HYT And what if innovations in watchmaking could benefit other sectors, such as the medical industry, where the issue is less about mastering time and more about mastering life itself ? This is increasingly evident every year at that grand rallying point of watchmaking 152

suppliers, the EPHJ trade fair in Geneva, where financially challenged microtechnology specialists seek to gain a foothold in the lucrative medtech sector, of which Switzerland is also a global hub. Don’t forget that it was here, for example, that the first stents were developed, in Zurich and Lausanne in the late 1970s, and that today, Switzerland is home to giants of the medical sector such as Sonova, Ypsomed, Straumann, Johnson & Johnson Medical, Biotronik and Medtronic.

It is into this rich ecosystem that Preciflex intends to diversify. Preciflex is the sister company of watchmaker HYT, which is renowned for its watches in which coloured liquids show the time instead of the traditional hands – thereby putting a whole new perspective on the passage of time, with an intuitive vision of past and future. In reality, today HYT is acting as a showcase or ‘pilot fish’ for the future possibilities of Preciflex.

Might the applications currently used in watches, which are all about mastering the precise movement of tiny amounts of liquid (microlitres) on living bodies and thus inevitably subject to huge constraints (temperature, shocks, etc.), tomorrow be used in the human body for medical purposes? It is plain, though, that standards in the medical sector will be far more stringent than in watchmaking. Two years ago, this small conglomerate raised funds of more than 20 million dollars. One of the investors was a certain Peter Brabeck, formerly CEO of Nestlé, who had already very strongly geared that giant towards the health industry.

The strategic issues underlying these innovations Looking beyond the scientific and technological adventure, the issues underlying these new mechanisms are also strategic, as they afford complete autonomy to the players engaged in developing them.

The development of balance springs made from carbon nanotubes, again by Guy Sémon and his team, are a cogent demonstration of this. Having passed virtually under the radar, this astonishing development – ‘growing’ nanotubes to make balance springs is a world premiere – is set to make LVMH independent in the strategic sector of balance springs, until now largely dominated by Nivarox-FAR of the Swatch Group.

Science is a precious ally in the ‘wars’ of competition.

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Hybrid designs combining mechanics and electronics is one path being explored in chronometric watchmaking.

But beyond precision, hybridisation may also be a strategic tool for moving upmarket (Seiko), asserting a pioneering spirit (Piaget), charming elegant women (Journe), putting a poetic slant on luxury (Van Cleef & Arpels) or jumping with both feet into the nextgeneration watchmaking of the 21st century (Ressence). Genuine progress or smoke and mirrors? It could be one or the other. Or a mixture of both.

Quartz in the Carré des Horlogers Invited to the Carré des Horlogers at the last SIHH, François-Paul Journe chose, astonishingly, to showcase only his Elégante collection. Quartz watches in this purists’ stronghold? No! Electro-mechanical watches!

The word “quartz” has an impure ring to it. So if this cheap-sounding technology wants to slip through the cogwheels, it needs to dress up and put on its Sunday 154

best. Elégante –in this case, elegance means being able to shut down if taken off for more than 35 minutes and go into complete hibernation for a given period of time – months or even years – and in a split second reset itself to the exact time when picked up again.

Worn daily, it boasts more than eight years of autonomy, and in standby mode up to 18 years. And you can only do that with (luxury) quartz.

It took eight years of research, notably in collaboration with the EPFL (Ecole Polytechnique Fédérale de Lausanne), to perfect this cutting-edge quartz timepiece, the printed circuits of which have a finish every bit as noble-looking as any mechanical movement. After all, Elégante is made by Journe.

With this hybrid horology, François-Paul Journe is clearly stating his objective and he makes no bones about it. The aim is to charm women who have an eye for fine watchmaking but do not want to be bothered with it non-stop. Look beautiful and keep time! In doing so, he’s taking a strategic risk with his image. But the intention is also to show that electronics can be glamorous too.

Van Cleef, poetic piezoelectricity Is piezoelectricity becoming poetic? We all make use of this property that certain materials have, of accumulating an electrical charge in response to applied mechanical stress, each time we press the button on our gas cookers to produce the piezoelectric spark to light the gas ring. Van Cleef & Arpels have incorporated this same property into the 12 different watches of their Midnight Zodiac Lumineux collection, in which the stars on the dial light up on demand.

To achieve this, they built a module featuring a ceramic blade into the automatic mechanical movement.

Movement causes this blade to vibrate by mechanical means, generating a piezoelectrical charge that feeds luminescent diodes (between four and six, depending on the sign of the Zodiac). These diodes then backlight the translucent enamel beads on the dial representing stars for about three seconds. Here, hybridisation enters by subtle means, at the service of poetry on an astronomical theme.

Ressence invents the e-Crown® This is not about piezoelectricity, but a combination of kinetic and photovoltaic energy that helps set the watch. With its e-Crown®, Ressence is seeking to “associate the reliability and precision of electronics with the empathy and beauty of mechanical engineering”.

What this boils down to is that the e-Crown® is an electronic crown that automatically regulates and adjusts 156

the watch to the precise time. This fully autonomous, on-board system does not interfere with the wheel train of the automatic movement and is linked to the display by means of discs. The specially developed, miniature electronic system comprises 87 components, and its power consumption is very low (around 1.8 joules a day). The energy is produced by the wearer’s movements via a kinetic generator with its own barrel and, if necessary when the watch is not worn, by photovoltaic cells concealed beneath 10 micro-shutters on the dial, which open. You set the watch manually once by means of a small lever on the back of the case. After that, the electronic device checks the time at least once a day and automatically adjusts it. The e-Crown® can be deactivated and reactivated at any time and a simple tap on the crystal resets the time. You can also connect it to the smartphone application of the same name via Bluetooth. This app offers geolocation and a pop-down menu of cities and their time zones to let you select, predefine and send the information to the watch. “In full e-Crown® mode (e-Crown® + setting by app), your watch is set and adjusted to the nearest second by your smartphone. In semi-e-Crown® mode (e-Crown® +

Ressence e-Crown Photovoltaic Shutters

manual setting), your watch is set and adjusted to the nearest minute. In mechanical mode (no e-Crown® + manual setting), your watch works without any assistance like in the 'good old days' - single ' of traditional fine watchmaking,” Ressence explains. Tony Fadell, the inventor of the iPod, founder of Nest and technology coach at Ressence, adds that “high-end watchmaking has to adapt to new technologies to gain access to a new level of functionality and, first and foremost, fascinate the new generation”. So, first and foremost, it has to keep the flame of haute horlogerie alight. Might electronics be a crucial ally for high-end watchmaking in this task? There are grounds for thinking so.

Piaget, hybridising haute horlogerie In early 2016, Piaget presented its Emperador Coussin XL 700P. A truly hybrid watch: mechanical energy and transmission, quartz regulation. Its energy source is a self-winding system in the form of a micro-rotor, which arms the barrel spring, driving the gear train. So far, so good. But rather than supplying energy to a traditional lever escapement, the gear train powers an alternator.

This generates an electrical current that is stored in a generator, which powers a quartz oscillator. The quartz oscillates at 32,786 Hz, controlling the speed of the alternator, which makes 5.33 rotations per second. The secret

lies in the braking system, which ‘splits’ the quartz oscillations down to a frequency of 32Hz. This process is controlled by a sensor and comparator, which continuously corrects the system (numerous patents for this new technique have been registered).

The 700P, Piaget’s first hybrid movement, offers exceptional performance of plus or minus 1 second per day, which is beyond the reach of any exclusively mechanical watch.

But the question is: who, in the select circle of luxury watch buyers, is bothered about the absolute precision of the precious object strapped to their wrist?

Precision is not to be sniffed at: it is the very core of the watchmaker’s art, its holy grail. But is it crucial down to the second?

Seiko, hybridising to move up the market But all due credit has to be given to the pioneers of hybridisation, Seiko and their ‘operation Spring Drive’.

In 2006, Shinji Hattori, President and CEO of the Seiko Watch Corporation, said to Europa Star*: “The Spring Drive movement is only the beginning. We are send-

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FRÉDÉRIQUE CONSTANT HYBRID HOROLOGICAL SMARTWATCH 3.0 Frédérique Constant has introduced version 3.0 of its hybrid watch, and it has a new gimmick to match the name.

Claimed to be another “world first” for the industry, the brand has combined three technologies, hence the 3.0. Those technologies are: manufacture, smart watch functions, and calibre analytics.

The Hybrid Manufacture FC-750 calibre is a patented in-house mechanical automatic movement with 42 hour power reserve and time and date functions.

Importantly, the movement has an electronic module – also developed in-house - that governs the watch’s smart functionality. It is connected to the so-called Hybrid App via the pusher button on the left side of the case, which brings us to the second feature.

Using Bluetooth, Smart Watch Functions are displayed on the counter at 12 o’clock as well as in the app. Smart features include: activity tracking, sleep monitoring, analytics, world timer, coaching, and adjustments to the pusher settings. Not a lot of features, but more than any of us would probably use on a daily basis.

Last but not least is the third feature of the new watch: Calibre Analytics. Through the use of an algorithm, the health of the movement can be tracked by measuring its Rate, Amplitude and Beat error. The results are communicated to the Hybrid App and are displayed in graphs over time.

Each Horological Smartwatch 3.0 comes in a special box that offers a removable charger for the electronic smartwatch functionality (the module has a battery life of 7 days) and a more traditional winder rotating box to power the mainspring in the mechanical calibre. (Mr E.)

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ing a strong signal to the international watch market: Seiko is moving upmarket! The Spring Drive demonstrates our innovative potential and will gradually open markets for us in the mechanical haut de gamme sector. This is a long-term strategy.”

The watch is beautiful, well-proportioned and impeccably finished. One fascinating detail is that its second hand glides forward like flowing water, as smoothly as time itself.

This ‘quiet revolution’, as the Japanese called it back then, has a very long history. The idea was born in 1977 but the project was suspended several times, in 1984 and 1993, and then resumed in 1997, “only because its creator, Yoshikazu Akahane, wanted it”. A saga both industrial and human, in which the Seiko Epson division, which had expertise in low-energy circuits, played a role no less essential than that of the mechanical watchmaking division.

Premiered in 2005, the Spring Drive movement is driven by a traditional oscillating weight and a barrel transmitting the energy to the gear train. The final gear is a rotor, called a ‘glide wheel’, that powers a fixed bobbin. Controlled by the ‘Tri-Synchro Regulator’, the bobbin electrically powers the quartz oscillator that delivers signals to the integrated circuit, which in turn regulates the electromagnetic braking of the glide wheel. The glide wheel rotates eight times per second (the equivalent of a traditional escapement of 28,800 vibrations per hour). The precision attained is ± 15 seconds per month. As we described it, the hands are braked rather than propelled, and move smoothly, gliding around the dial of the watch.

Regulating time by braking it rather than sequencing it! Not only is it a fine idea, and the technology highly interesting, for Seiko it is also a successful exercise in moving closer to the higher end of the market. Available in a Spring Drive GMT, Moonphase, Chronograph, and even a remarkable zen Minute Repeater model, the Spring Drive hybrid lineage effectively enabled Seiko to carve out an innovative place for itself in haute horlogerie, paradoxically paving the way for the highly traditional Grand Seiko.

Which just goes to show that using innovation all the better to establish your status can be a worthwhile exercise. * Read on europastar.com: With the Spring Drive, Seiko launches an offensive... (www.europastar.com/1002116453) Seiko’s Spring Drive – a human, industrial, technological, and artisanal adventure (www.europastar.com/1003672139)

Freely speaking

WHEN I WAS OLD…

A NOSTALGIC TRIP DOWN MEMORY LANE

BY D. MALCOLM LAKIN

M

y first trip to Basel was to visit the European Watch and Jewellery Fair.

It was 1979 and I’d just been employed as a magazine editor for a company in Geneva, given a Swissair return ticket, a room at the Hilton Hotel, an exhibitor’s pass and a hall and stand number. I had no idea what to expect and because the watch and jewellery section was a part of the MUBA (Mustermesse Basel), it took me around thirty minutes of slaloming through stands selling everything from pots and pans, books, wine, furniture and baby clothes before I reached the company’s stand.

In those far-off days I didn’t know that I would eventually join the unique Europa Star family, a family that has now successfully participated in the fair for eighty years. It was already as much a part of the event as the chalet in one of the halls selling cheese fondue and raclette, and other stalls selling sizzling schubligs and chips – one of which was literally opposite the elegant two-level bordeaux and gold-coloured Cartier stand, where their exclusive clients spent millions and left smelling of smoked sausages.

It took time but it changed, it improved, it had to. For the watch and jewellery industries Basel became the Fair of Fairs where people from all over the globe came to sell, buy and promote. It moved outwards and upwards, halls were extended, refurbished, rebuilt, exhibitor numbers exploded, stands became bigger, many with a second floor, they were more decorative, more innovative, not to mention more and more expensive for the space rental and to construct. In came the sushi

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and out went the schubligs and inevitably they took with them the last vestiges of that familial ambience.

Almost from one day to the next, everything and everyone had to be streamlined into finely-honed business machines to chaperone the finely-tuned Swiss mechanical movements they were selling. The bottom line of the ledger had superseded the bonhomie.

Today, with many of the major brands it's a 30-minute meeting at best with a company representative to see their latest creations or hear about their latest acquisitions or merger. But consolation comes in the form of the independent brands who still welcome you with a friendly smile, give you all the time necessary to talk not only about their timepieces but also offer coffee and interesting anecdotes, or even listen to one of yours.

Nevertheless, the ultra-professional Baselworld continues to be the watch and jewellery event of the year.

But as we old’uns say, things ain’t what they used to be.

With more than an iota of nostalgia, I miss the times when that gentleman of gentlemen Raymond Weil would stroll over from his stand to Europa Star just to say hello; chatting with Nicolas G. Hayek about cigars or him cheerfully dragging me into an office to meet and have my photograph taken with Cindy Crawford; the glamorous Catherine Deneuve visiting our stand; Stephen Urquhart of Omega, insisting I meet Sir Peter Blake, that colossus of yachtsmen who won the America’s Cup for New Zealand; and that excruciating moment of moments when a member of the British Royal Family stopped in front of Leo de Vrooman’s eye-catching window display of 18 carat gold jewellery and asked if that was what was called costume jewellery. In his understated way Leo simply replied, "No Sir, it’s the real thing." I could go on …

Baselworld continuously evolves, business is their métier, but we’ll always have nostalgia.

Watchwords

GOOD, BETTER,

BEST

BY JILL METCALFE

S

uperlatives are the meat and potatoes of watch advertising copy. That shiny new timepiece, whether it rolled off a production line in Shenzhen or emerged from an atelier on some craggy hillside in the Jura, has to be the thinnest or the finest or the lightest, the simplest or the most complicated, using the oldest technology or the newest, the hardest materials or the softest leather. If all else fails, it can always be the latest, at least for a week or two.

But there are problems with using superlatives. Leaving aside the fact that they are boring and predictable, they also, technically, have to be true, if they are not to bring down the wrath of advertising standards agencies and, possibly, armies of lawyers. Happily for the world’s advertising copywriters, back in the fourth and fifth centuries BC, a group of Ancient Greeks called the Sophists devised an entire dictionary’s worth of sophisticated rhetorical devices that could be used to “inform, persuade or motivate”, through the skilful use of words to evoke emotions and create impressions.

The current incumbent of the White House may not be what is generally thought of as a skilled orator, but he is an enthusiastic exponent of rhetoric.

If you pay attention to his next speech, you’ll hear examples of alogism (illogical statement), anacoluthon (moving to new topic of discussion before finishing the current one), analepsis (repetition of a word or phrase for emphasis) and apophasis (saying something by stating that you will not mention it). And I haven’t even got to the b’s yet. He is also well known for his use of superlatives, and, in The Art of the

Deal, he defends his use of what he calls “truthful hyperbole” (the oxymoron is another useful rhetorical device): “It’s an innocent form of exaggeration — and a very effective form of promotion.” Watch companies seem to agree, and will often turn to hyperbole where superlatives are inappropriate or inadvisable.

But times are changing. Watches are getting smaller again, less flashy. We’re tired of superlatives. What was eye-catching and desirable a couple of years ago now seems a bit… too much. And in this context, the growing attraction of vintage and pre-owned timepieces makes a lot of sense. People are no longer interested in the biggest or the shiniest; they want a bit less hyperbole and a bit more truth. It doesn’t matter if the dial is discoloured or the glass has a few scratches, or the lume has lost its radioactive glow; the person who first bought this watch just wanted a way of telling the time. They didn’t own a smartphone, and they didn’t take selfies. They just liked the watch.

I don’t know if there’s an Ancient Greek word for it, but there is a new one. “Humblebrag: an ostensibly modest or self-deprecating statement whose actual purpose is to draw attention to something of which one is proud.” It might not work in advertising copy, but you can try it out in daily life: “Sorry I’m late! I keep forgetting this old Daytona runs a little slow.”

But then again…

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A last word to start

ON THE SHORTNESS OF LIFE

BY LUCIUS ANNAEUS SENECA, TRANSLATED BY GARETH D. WILLIAMS

“

I am always astonished when I see people requesting the time of others and receiving a most accommodating response from those they approach. Both sides focus on the object of the request, and neither side on time itself; it is requested as if it were nothing, granted as if it were nothing. People trifle with the most precious commodity of all; and it escapes their notice because its an immaterial thing that doesn’t appear to the eyes, and for that reason it’s valued very cheaply — or rather, it has practically no value at all.

People set very great store by annuities and gratuities, and for these they hire out their services or their efforts or their attentions. But no one values time: all use it more than lavishly, as if it cost nothing. But if mortal danger threatens them, you’ll see the same people clasping their doctors’ knees; if they fear a capital charge, you’ll see them ready to spend all they have to stay alive. So great is the conflict in their feelings. But if each of us could see the number of years before us as precisely as the years that have passed, how alarmed would be those who saw only a few years left, and how carefully would they use them! And yet it’s easy to manage an amount, however small, which is clearly defined; we have to be more careful in conserving an amount that may give out at any time.

Yet there’s no reason to believe that those people are unaware of how precious a commodity time is. They habitually say to those they love most intensely that they are ready to give them some of their own years. And they do give them without knowing it; but they give in such a way that, without adding to the years of their loved ones, they subtract from themselves. But this very point, namely, whether they are depriving themselves, eludes them, and so they can bear the loss of what goes unnoticed in the losing.

No one will bring back the years, no one will restore you to your former self. Life will follow the path on which it began, and it will neither reverse nor halt its course. It will cause no commotion at all, it will call no attention to its own swiftness. It will glide on in silence. It will prolong itself at neither a king’s command nor his people’s clamour; it will run on just as it started out on the first day, with no diversions and no delays. And the outcome? You’ve been preoccupied while life hurries on; death looms all the while, and like it or not, you have to accommodate it.

Can there be anything sillier than the view of those people who boast of their foresight? They are too busily preoccupied with efforts to live better; they plan out their lives at the expense of life itself. They form their purposes with the distant future in mind. Yet the greatest waste of life lies in postponement: it robs us of each day in turn, and snatches away the present by promising the future.

The greatest impediment to living is expectancy, which relies on tomorrow and wastes today. You map out what is in fortune’s hand but let slip what’s in your own hand. What are you aiming at? What’s your goal? All that’s to come lies in uncertainty: live right now.

Hear the cry of the greatest of poets, who sings his salutary song as if inspired with divine utterance: Each finest day of life for wretched mortals is ever the first to flee.”

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