HH Mag 2015 EN by Fondation de la Haute Horlogerie

MAG FONDATION DE LA HAUTE HORLOGERIE - 2015

W W W. H A U TE H O R LO G E R I E . O RG/ E N

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FONDATION DE LA HAUTE HORLOGERIE - 2015

05/12/14 17:06

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05/12/14 17:06

EDITORIAL

am a great fan of the covers of HH MAG. No other watch journal has a cover quite the same. Each year, an original illustration inspires readers to delve into the pages of a magazine whose goal is ultimately to set ideas rolling, to go beneath the surface and, why not, spark debate. This year’s cover also illustrates one of the key themes which the magazine explores, namely

young people as they embrace the world – and not just the world of watchmaking – to discover who they are. The watch gives them a means of measuring time that is not just hours and minutes, but also the time they will take to shape their personality and determine the values they will uphold. On the subject of values, one of the main objectives of the Foundation’s new Cultural Council is to define and defend the true identity of fine watchmaking, beyond marketing symbolism. The Council is organised into areas of expertise, thereby enabling it to make a more objective evaluation of a brand’s inclusion in what the Foundation has called the fine watch perimeter. In 2015 the Fondation de la Haute Horlogerie celebrates ten years of action. This isn’t about mistyeyed nostalgia or self-congratulating. We simply believed the moment was well-chosen to recall the importance of initiatives taken and ideas that have grown, and which have brought to fruition an ambitious and innovative project, HH Certification, that will give sales staff a genuine status. The aim, of course, is to recognise competencies but also to help forge a lasting relation between seller and buyer that marks an important step in developing a finer understanding of the value an object can have. The magazine’s centre section is given over to the real stars of fine watchmaking, namely the twentysix iconic watches chosen by the brands that support the Foundation and which enable us to carry on our mission. Special thanks must go to these partners who, like Don Quixote, battle day after day against the “windmills” of the ephemeral. Also in these pages is a perceptive essay on young people and their future by Jacques Attali, a foremost economist, writer and banker who served under two very different but equally demanding French presidents. Just as new generations make their way through an uncertain but no less stimulating environment, we should also remember that the generations at the opposite end of the spectrum have experience and wisdom they can share, and more importantly can point to where the future may lead. As Jacques Attali reminds us, youth is an attitude. Young and old must learn from each other. Not to pass on their fears and frustrations but to light the flame of ambition, and encourage one another to seek out newness and beauty in all that they do. I wish you an enjoyable read, and very best wishes for this year and for the future. FRANCO COLOGNI

atelier-zuppinger.ch

Ancre Amarrage ou pièce de haute horlogerie ? Découvrez l’univers de l’horlogerie d’exception, sur www.hautehorlogerie.org

INDEX 4

32 WHEN WORDS ARE ENOUGH

WHAT FUTURE FOR YOUTH? T E X T: JAC Q U ES AT TA L I

10 THE HEIGHT OF EXCELLENCE

T E X T: C O S TA N Z A U T R EC H T- S T E I N

VALUES

37 TEN YEARS OF ACTION, TEN YEARS OF PASSION

T E X T: F R A N C O C O LO G N I

ACTIONS

T E X T: FA B I E N N E LU P O

15 CULTURAL COUNCIL AREAS OF EXPERTISE

40 WHAT’S NEXT – 6TH FORUM DE LA HAUTE HORLOGERIE

28 PLACE ME LIKE A SEAL OVER YOUR HEART

45 PUT TO THE TEST

T E X T: D O M I N I Q U E F L ÉC H O N

T E X T: M I C H E L J E A N N OT

FOCUS

54 68

49 THE ASIAN OBSESSION

68 SMARTWATCH, SWISS WATCH: TWO’S COMPANY?

T E X T: S E A N L I

T E X T: R A PH A Ë L LY

54 A MULTIBRAND CONCEPT LAUNCHES A NEW WORLD OF WATCHES

71 WHO WEARS THE CROWN?

T E X T: C H R I S TO PH E R O U L E T

59 THE COMPLEX FUTURE

T E X T: C H R I S TO PH E R O U L E T

TRENDS

T E X T: V I R G I N I E R A I S S O N

64 ANY MORE BIDS? T E X T: AU R E L B AC S

WHAT FUTURE FOR YOUTH? TEXT: JACQUES ATTALI PHOTOS: SI LVI A BADALOTTI

Young people’s legitimate pessimism as to what the future holds must not turn into shoulder-shrugging resignation but instead become an incentive to take action and assert their own values. In this fast-changing world, new technologies, an economic long view, education and fruitful dialogue between generations are proving essential in creating new prospects for youth.

ll around the world, young people take what

out of work. Worse still, in 2012 one in four young adults

appears to be a justifiably pessimistic view of

worldwide was not in employment, education or training.

their future. First to suffer when the economy

This is the case for a majority of young people in South

declines, they must also pay the price of the

American favelas, but also concerns 12% of youth in OECD

situation they inherit from previous generations, be this the

countries.

level of public debt or an environment in disarray.

Even those young people who are in work have no

Young people were the first adjustment variable during

guarantee of stability. A third of those in employment

economic crisis. Fifteen- to 24-year-olds represent 17%

are on short-term contracts, compared with 9% in older

of the global population but 40% of unemployed. The

age groups. Seven out of ten young Brazilians left their

unemployment rate for their age group is eight points

job in 2013. Young people also earn the lowest wages. In

higher than for older age groups. In the Maghreb it climbs

developing economies, there are two hundred million young

to 23.9% and 29.1% in the Middle East. Were the economy

working poor, earning less than $2 a day. In sub-Saharan

to suddenly recover, those who find work after a period of

Africa, one out of two young people provides unpaid labour.

unemployment will be paid around 8% less and have less

Today’s young generation therefore enters the adult world

chance of promotion than their peers who go straight into

under vastly different conditions to, say, their parents, and

employment.

this gap is even more noticeable in developed countries.

Nor is education necessarily a safety net for these risks,

Previous generations benefited from economic growth and

as many diplomas fail to match the job market’s needs.

the opportunities this brought, and saw their standard of

In Tunisia, for example, a third of university graduates are

living rapidly rise. Today’s youth, on the other hand, must

contend with serious economic difficulties from the minute

will peak at around two and a half billion. Already, longer

they enter the labour market, and probably won’t see

life expectancy has reduced their relative weight in

their standard of living improve by any significant degree

world population. At the other end of the spectrum, the

during their working life. French youth take an especially

proportion of over-65s will, by 2030, have grown by half

pessimistic view of the current situation and the future of

as much again, progressing twice as fast as the rest of

society. Barriers to employment – legislation protects those

the population. By 2030, half of Europe will be over 50.

already in work – and housing – with a housing shortage

Increasingly, issues of dependency and financing of

that favours landlords’ interests – are symptomatic of

pensions will be in the spotlight. The new generation could

a rent-seeking society whose very existence maintains

choose not to shoulder the burden. One out of two young

young people in a situation of instability. Today’s young

Japanese refuses to pay for elderly relatives’ care, an

people suffer the consequences of decisions and actions

opinion shared by a majority of young Greeks. When young

which excluded them from the equation, and will do so for

people consider that previous generations have cheated

decades to come.

them out of a future, they feel they owe nothing in return.

Public debts have exploded. They have now reached 89.5%

Can we blame them? Yet despite the many reasons they

of GDP in the European Union and 96% in the Eurozone.

have to “drop out” of the rest of the world, new generations

These debts, accumulated over generations, reduce

lack neither hope nor energy. Giving the lie to the clichéd

countries’ capacity for investment, again to the detriment of

image of a listless, politically disenfranchised youth, young

youth. The cost of servicing France’s debt is the country’s

people are taking action. India’s youth, once considered politically negligible, now carries huge electoral weight, both demographically (430 million 15- to 34-year-olds in 2011, 22% more in ten years) and ideologically, and has mounting

Giving the lie to the clichéd image of a listless, politically disenfranchised youth, young people are taking action.

influence on the country’s political system. Ninety-four per cent of young Indians – the highest score anywhere in the world – believe it is their duty to vote. The anti-corruption movement led by Anna Hazare in 2011 and 2012, together with campaigns urging respect for women, illustrate young people’s determination to shape the democratic process and drive positive social change. Young Brazilians are also demanding more from those in power. In summer 2013, in the run-up to the World Cup,

biggest budget item, ahead of spending on education.

they took their frustration onto the streets and protested

Today’s populations are also leaving the next generations to

against the lack of investment in transport infrastructure

deal with largely irreversible environmental damage. Parties

and education, winning massive public support.

at the Cancun Climate Change Conference committed to

Chinese youth appear similarly disenchanted with traditional

a maximum 2°C temperature rise by 2100. This implies

forms of political engagement. Made war y by their

stabilising CO2 concentrations at 450 ppm: if no action is

predecessors’ experience, they are voicing their opinions

taken, which seems highly likely, this limit will be reached

online, speaking out against the most blatant inequalities,

in less than a generation.

manifest abuses of right, and environmental destruction

The young generation also faces an ageing world

that directly affect them. Several hundred environmental

population and the financial consequences this entails.

protests were staged in 2013, some of which led to the

Within a few years, the number of under-20s worldwide

withdrawal of the project in question.

If the right job isn’t out there, many will invent it themselves. A lot of these young entrepreneurs work hard to propose economically viable solutions to social and environmental problems.

out there, many will invent it themselves. A lot of these young entrepreneurs work hard to propose economically viable solutions to social and environmental problems, such as the 26-year-old engineer behind Smart Impulse, a company that measures energy loss in buildings, thereby helping improve energy efficiency and combat climate change. Or the Canadian entrepreneur who has successfully implemented the seemingly impossible idea to develop rooftop farms that give city-dwellers access to locally-grown produce. Or the young people all over the world who are setting up crowdfunding platforms to provide loans to people outside the conventional banking networks and criteria. Thus today’s youth are (legitimately) pessimistic but not fatalistic. Wherever in the world they live, they are finding reasons to stay positive and take action. In emerging countries, where they could simply bask in their nation’s

Clearly then, young people know that they must roll up their

economic growth, they are helping solve social problems.

sleeves to bring about the changes they want to see, but

In developed countries, young people are laying the

also to succeed in tomorrow’s world… today’s world being

foundations for a more positive society by joining non-profit

no more than a glimpse of what is to come. The Internet of

groups, social enterprises or green projects. Young people

Things, the Cloud, neurosciences, artificial intelligence and

are leading by example; it’s time we started factoring future

nanotechnologies, among others, are transforming and will

generations into our choices. Now.

continue to transform multiple sectors of the economy, and

This means changing the way we apprehend political,

will change the way we consume, work, are entertained

e c onomic a nd socia l d e cisions by inte grating a n

and behave as citizens. Faster and better information

intergenerational perspective, which in turn implies

processing will lead to more efficient solutions in education,

that conditions exist for dialogue and learning between

health and transport. The labour market will enter a new

generations. Seniors must learn from youth, and vice

phase. Certain studies predict that by 2035, up to half the

versa. The purpose of these exchanges isn’t for parents

jobs in Europe or the United States could be replaced by

to pass on their battles and anger to the next generation;

automated processes, and that increasingly this will include

rather they must be an opportunity to instil across every

analytical tasks. Such rapid and radical change brings huge

generation the ambition to create, and an aspiration

challenges but also opportunities. New jobs will emerge to

towards beauty and refinement. Art has its role to play in

develop, test, improve and repair the robots and programs

this, of course, but so does the desire to make a positive

behind this automation.

contribution to the world. They must also highlight the limits

In this constantly changing world, young people know they

of the prevailing world model. The tyranny of the short term

must take action, and that the choices they make in their

is behind the economic, financial, social and moral crises

private and professional life must promote certain values.

we are experiencing. We should instead think for the long

Surveys have shown the importance young people attach

term and let the up-and-coming generations have their say

to the prestige and significance of a profession, and their

in present-day choices, in all areas of society. This implies

belief that it should serve a purpose. If the right job isn’t

setting business a new objective to promote the common

Lifelong education must become the norm, and digital learning offers fabulous opportunities in this respect as it pushes the traditional boundaries of education in both space and time.

good – in particular economic, environmental and social

the prestige of the educational establishment and the

interests – and creating a European positivity rating agency

qualification obtained determine an individual’s career,

with executive pay linked to a company’s score.

whereas experience and skills acquired throughout his or

This type of initiative already exists in businesses,

her working life are insufficiently valued. Yet it would be

cooperatives and non-profit groups working in microfinance,

illusory to imagine that a young person leaves school or

fair trade or social entrepreneurship. They produce value.

college fully equipped to succeed at every stage in their

We need to take action so that this movement can grow

career. Lifelong education must become the norm, and

and become the blueprint for the future. One way to achieve

digital learning offers fabulous opportunities in this respect

this is through a positive economy certification scheme

as it pushes the traditional boundaries of education in both

that gives improved access to funding in the form of social

space and time. First, though, we must make the necessary

impact bonds and green bonds. We can also provide fiscal

investment to adapt education systems to digital society.

incentives to promote positive behaviour and disincentives

Huge collective challenges lie ahead.

for less desirable behaviour. There are so many things we

Rising to these challenges implies that young and not so

can do. Laying the foundations for a positive economy will

young – because youth is an attitude, not a number – first

open new perspectives for youth. However, none of this

take control over their own life, without waiting for others

can happen without changes to education and training,

to extend a helping hand but doing everything within their

which are the keys to tomorrow’s positive growth. Initial

power to help them. Only then can young people become the

education plays a decisive role in many countries today:

change they want to see.

VALUES

If fine watchmaking had to be defined – a perilous but necessary task assumed by the Fondation de la Haute Horlogerie (FHH) Cultural Council – such a definition would undoubtedly revolve around values. These values are eloquently suggested in the FHH’s latest campaign, which evokes a body of knowledge that is unique to the measurement of time. These same values have, throughout ages, found expression in timepieces that bear the Poinçon de Genève hallmark, a standard of excellence to which only the most masterful creations can aspire; those which combine extraordinary functions with superlative aesthetic.

THE HEIGHT OF EXCELLENCE TEXT: FRANCO COLOGNI

Fine watchmaking is like a basket of juicy, ripe fruit, intended for that most beautiful of brides, the customer, our only judge. But what fruit are we talking about exactly?

s concepts go, fine watchmaking has spilled

some dazzlingly bright while other, fading stars are barely

a lot of ink and inflamed even the most

distinguished. Which brings us, through another analogy, to

measured conversations. The reason isn’t

the galaxy of fine watchmaking, recognisable by its blurred

hard to find. As in many other areas, “fine” is

contours and diffuse nature. Is this something we should

an overused term. We talk of fine dining and fine jewellery,

regret? Certainly not. Continuous change denotes a living

without any real discernment. Put simply, no-one knows

system which responds to external stimuli and evolves

what exactly “fine” is referring to, except the desire to make

along with conditions. But however fluctuating it may be,

a distinction in terms of quality which, ultimately, leaves us

it is no less governed by clear and precise rules which

no better informed. Very probably, no-one would give the

include beauty, creativity and innovation, three essential

matter a second thought, were it not the cause of such

constellations in watchmaking’s celestial chart (on this

bickering within horological circles, themselves incapable of

subject, see Michel Jeannot’s article Horology’s Brightest

proffering any kind of definition other than one which suits

Stars in HH MAG 2013).

their own ends. In the absence of any suitable exegesis, analogy may help

EXCELLENCE AND DESIRABILITY

us in our attempt to shed light on this desire to reach for

But enough of metaphors; let us turn to the heart of the

higher realms. Being the humanists we are, we shall begin

matter. Evidently, the “fine” in fine watchmaking makes

with Leonardo da Vinci’s Vitruvian Man. Represented at the

explicit reference to excellence. The two concepts are

top of the drawing are the head and the pectorals, beneath

inextricably linked. Do we not still refer to certain high-

which a brain bubbles and a heart beats. The lower

ranking figures as Your Excellency? Also implicit in these

limbs, in comparison, appear lifeless. More prosaically,

horological heights is the notion of desire, a sine qua non

what of the space above our heads? Since the dawn of

for understanding an activity that exerts an irresistible force

mankind, the sky has appeared to us as a vast expanse of

of attraction on individuals, even those who know full well

plenitude, a world beyond, a state of divine bliss. Heaven’s

they can only ever imagine how the desired watch might

vault again brings to mind the watchmaking world with

feel on their wrist. Such levels of excellence and desirability

constellations that change according to our vantage point,

are only attained by those who climb to the top of their

profession. Only watchmakers who have achieved our

to assume. The way is now clearly signposted for a process

highest regard can shine within this firmament.

that must be completed by end 2015, when the Cultural

Which brings us to the only possible conclusion. The word

Council must present the results of its work, in precise and

“fine” applied to “watchmaking” is not empty of meaning,

categorical terms.

as some might claim. On the contrary: fine watchmaking denotes a specific activity, governed by codes and values

A WELCOME SEGMENTATION

which can be found at certain Maisons and not others. It is

Here is neither the time nor place to expand on the values

like the ascension of Everest, probably every mountaineer’s

which are, in all objectivity, those of fine watchmaking. They

ultimate goal. Some have reached the summit and

will be spelled out in due course. It is, however, clear that

planted their flag on the mighty mountain as a prelude to

these values exist in various forms and in different sectors

international acclaim. Others are making their way to the

of the profession, hence the need for segmentation that

top, braving gales and storms along the way. Others still

will differentiate between historic Maisons and craftsmen/

will never leave base camp. Does this imply a hierarchy?

creators, between contemporary brands and leading

Indeed it does, though not in the sense that we must sort

names in fashion and luxury. It should come as no surprise

the wheat from the chaff, as at the last judgement. The

that together these “categories” generate spectacular

point is to acknowledge that fine watchmaking is a very real

economic growth.

notion, that a certain number of watchmakers come within

Mathematics, an exact science if ever there was, and one

its boundaries, and that they have a name.

of its offshoots, statistics, will give credence to our theory. For once, we won’t take Einstein literally in his declaration

THE FHH CULTURAL COUNCIL

that “not everything that can be counted counts, and not

Where does the Fondation de la Haute Horlogerie (FHH) fit

everything that counts can be counted.”

in to all this? As the Sherpa in the aforementioned ascent

A few figures will give us an image of the matter in hand that

of Everest, it optimises the structure of its Cultural Council

definitely counts. Indeed, recent statistics for Swiss watch

(more on this below), and sets new missions for it. The first,

exports in value terms – to which we can reasonably add

a vital and immediately understandable task, is to produce

5% for Switzerland’s domestic market and thus obtain a

a single, unequivocal definition of fine watchmaking. The

representation of global sales – reveal that watches with

previous Council drafted a Manifesto, which retains an

an export value of CHF 6,000, equivalent to an average

important historical value and must serve as a basis for

retail price of CHF 18,000, account for 45% of revenues for

future reflection.

Swiss watchmaking as a whole.

The new Council must go a step further and draw up a

In other words, Swiss brands earn almost half their money

series of tangible proposals. This initial task leads to another.

from fine watches.

Having defined fine watchmaking, the Cultural Council must

And so it seems clear that we are right to give fine

establish a list of Maisons that are representative of this

watchmaking all due attention, not only for it to receive the

activity so as to then ascertain its perimeter. Previously,

full appreciation it deserves, but also to spread its aura

such an evaluation focused essentially on the product, but

across all five continents.

quickly shifted to the brands which, when taken together,

This affirmation is all the more true as fine watchmaking

form a potpourri unsuited to our purpose. And so once

acts as a driving force for the entire watchmaking industry;

again, the situation calls for clarification. Having evaluated a

it also conveys the reputation for quality that is associated

series of objective points, it will fall to the Cultural Council to

with Swiss-made goods, on a global scale. In this respect,

inform brands whether yes or no they have been included

fine watchmaking is an ambassador for Swiss production,

within the perimeter of fine watchmaking. A task it had yet

and warrants its title of Excellency.

A NEW CULTURAL COUNCIL From its very beginning, ten years ago, the Fondation de

assume the responsibilities attendant to its newly

la Haute Horlogerie enlisted the services of a Cultural

assigned duties. So as to reach these objectives, the

Council, comprising some of the professionâ&#x20AC;&#x2122;s foremost

circle of members has been extended to more than

personalities.

40 and areas of expertise have been defined, each

This Council was a long-serving moral guide for the

corresponding to a particular theme. The said Council

FHH, tasked with making proposals that would promote

also has a steering committee, a core of five permanent

its various missions. It nonetheless became clear that in

members who are tasked with setting guidelines for the

its initial form, the Cultural Council had fulfilled but not

Council as a whole, and for the working parties spread

consolidated its role, and that action must be taken: its

across seven areas of expertise. The Cultural Council is

composition had to be reviewed and the new Council

led and coordinated by a secretary-general.

STEERING COMMITTEE

JASMINE AUDEMARS

AUREL BACS

FRANCO COLOGNI President

PASCAL RAVESSOUD SecretaryGeneral

DOMINIQUE FLĂ&#x2030;CHON

FABIENNE LUPO

CULTURAL COUNCIL AREAS OF EXPERTISE PHOTOS: R OBERT & SHANA PARKEHARRI SON

History, creativity & expertise, production & RD, distribution, communication, connoisseurs & collectors, training: these are the seven areas of expertise of the FHH’s new Cultural Council. Its members, all internationally acknowledged experts, will take position on key subjects within the sector.

HISTORY

archivist specialising in the history of time measurement. In 2010 he joined the Fondation de la Haute Horlogerie

Histor y is an impor tant component of watchmaking culture. A source of inspiration and creativity, this heritage forges each Maison’s identit y and legitimacy. For contemporary brands, history must be seen in perspective: the value and vision of the creator take the place of heritage.

where, as culture and patrimony manager, he has charge of exhibitions and lectures, and approves the historical content of the Foundation’s website. Jean-Michel Piguet Jean-Michel Piguet qualified as a watchmaker-restorer in 1974. He went on to study at the Technicum in La Chauxde-Fonds, where he specialised in the restoration of antique

Dominique Fléchon

clocks. He then taught for nine years at the watchmaking

Dominique Fléchon joined the Richemont Group in 1994 as

school in La Chaux-de-Fonds. Since 1988 he has been

a historian and specialist in antiquarian horology. In 2006

assistant curator at the Musée International d’Horlogerie,

he became content editor for the Fondation de la Haute

also in La Chaux-de-Fonds.

Horlogerie. He has curated numerous exhibitions as part of major watch fairs. Dominique Fléchon is highly regarded as

Fabienne Xavière Sturm

the author of exhibition catalogues, and of the authoritative

Art historian Fabienne Xavière Sturm is honorary curator of

reference work, The Mastery of Time.

the Geneva Museum of Horology and Enamel. For 30 years she managed the museum’s collections which she took to

Grégory Gardinetti

venues all over the world. Since 2003 she has continued to

A historian in fine watchmaking, in 20 0 6 Grégor y

work for Vacheron Constantin, the Museum of Design and

Gardinetti joined the internationally renowned Musée

Contemporary Applied Arts in Lausanne, and the University

International d’Horlogerie in La Chaux-de-Fonds as an

of Geneva.

CREATIVITY AND EXPERTISE Creativity drives style, and style gives a product soul. Creativity must build on the time-honoured expertise of the métiers d’art, the applied arts that are an essential component of a watch. Creativity has links to invention, innovation and design too; it is in constant liaison with the skills of yesterday and tomorrow, and is evident both outside and inside the watch.

Alexis Georgacopoulos

Alberto Cavalli

Arnaud Tellier

Alberto Cavalli is managing director of the Fondazione

Arnaud Tellier grew up in a family where art was very much

Cologni dei Mestieri d’Arte, a private, non-profit institution

a part of life. His interest in watches began at an early age.

for the promotion and preservation of fine craftsmanship.

After training as a watchmaker-restorer, as an expert in

He is a professor at Milan Politecnico school of design, as

collectible horology he spent ten years with Antiquorum

well as a visiting professor at the Creative Academy, where

auctioneers, followed by eleven years as director and

he leads seminars dedicated to the applied arts. He is a

curator of the Patek Philippe Museum in Geneva. In 2011

correspondent for the Russian magazine Kak Potratit and

he set up a consulting firm specialising in the valuation and

contributes to the Centre du Luxe et de la Création in Paris.

acquisition of artworks.

Alexis Georgacopoulos is a graduate of ECAL/University of Art and Design Lausanne, and in July 2011 became the university’s director. Alexis Georgacopoulos continues to both teach and practice design. Among his many partnerships and collaborations, he initiated the awardwinning Delirious Home project that was presented at the Milan Furniture Fair in April 2014. Wallpaper magazine has named him one of the 100 most influential figures in design.

PRODUCTION AND R&D

Henri-John Belmont A consultant in fine watchmaking, Henri-John Belmont is

A command of production, finishing and decoration, and more generally of every aspect in the creation and life of a watch, are at the heart of fine watchmaking. Investment in Research & Development is vital to maintaining these standards, in particular with respect to new materials.

a qualified engineer and holds an MBA from INSEAD. He became chief executive of Jaeger-LeCoultre in 1987. Appointed to the board of Richemont in 2001, he oversaw the integration of Jaeger-LeCoultre, IWC and A. Lange & Söhne within the Group’s other specialist watch brands. He developed Richemont’s overall watch movement manufacturing strategy before creating Belmont Conseil in 2006.

Elizabeth Doerr

Gian Luigi Cavalli

Elizabeth Doerr fell under the spell of watchmaking on her

Gian Luigi Cavalli began his career in the watch industry

very first visit to Baselworld in 1991. Her articles are read by

with Jim Gerber Fine Timepieces, where he was partner in

millions of people every year and appear in newspapers and

2001 and 2002. For the past five years, he has worked at

magazines as well as online, foremost on her own digital

Gubelin as director of Gubelin Zurich, an important name

magazine QuillAndPad.com. Elizabeth Doerr published

in luxury retail. Gian Luigi Cavalli is also CEO of Gruppo

12 Faces of Time, her first book, in 2010, which has been

Marchesi Cavalli. He holds a Masters in Law from Freiburg

described as a “love letter” to independent watchmakers.

University.

Christian Piguet

Laurent Picciotto

A consultant in fine watchmaking and vice president of

Founder of the Chronopassion store in Paris, ambassador

the Espace Horloger museum of watchmaking in La Vallée

for the Fondation de la Haute Horlogerie, creator of the first

de Joux, Christian Piguet was director of world after-sales

ever Hublot boutique, and a former shareholder in Richard

services for Rolex from 1977 to 2007. In this role, and as an

Mille, Laurent Picciotto is an internationally acclaimed

administrator of Bergeon SA and WOSTEP (Watchmakers

expert in timepieces, a passion he inherited from his father.

of Switzerland Training and Educational Program), he

He showed the full measure of his extensive knowledge as

oversaw the creation of training centres and watchmaking

master of ceremonies at the 2009 and 2010 Grand Prix

schools in the markets. He set up Piguetime Conseil in

d’Horlogerie de Genève.

2008. Pascal Ravessoud Holder of an MBA from Business School Lausanne,

DISTRIBUTION

Pascal Ravessoud joined Harry Winston in 2000 as PR & events manager, and later head of communications for the

The point of sale is the point of contact with the end customer. Whether it represents one or several brands, it must convey the values of those Maisons through impeccable service, delivered with professionalism and empathy.

Timepieces division. In 2007 he moved to the Fondation de la Haute Horlogerie as a marketing/development director. Currently, as director of missions, he oversees the development of the FHH’s cultural activities in the markets. Pascal Ravessoud is a member of the academic committee for the Masters in Luxury Management at the Geneva School of Business, Business School Lausanne and Sup de Luxe in Paris, where he lectures.

EUROPE Fabio Bertini Fabio Bertini began working at F.lli Pisa, his uncle’s store,

ASIA

as a young boy in the early 1970s. He acquired experience

Daniel Chan

as a clock repairer and in the technical aspects of horology

Daniel Chan is the founder and managing director of Paragon

before joining the sales desk, then the management of

International Limited and has over 20 years’ experience in the

various aspects of the business, including after-sales

luxury watch industry. He sits on the board of directors of Po

service. After serving as general manager of Pisa Orologeria

Leung Kuk, one of the most important charity organisations

in Milan for some two decades, he continues to contribute

in Hong Kong, established over 135 years ago. He was

to the development of this foremost watch retailer as an

previously chairman of the Federation of Hong Kong Watch

outside partner.

Trades and Industries Limited.

Michael Tay

Association. He is a US delegate of the Fondation de la

Executive Director of The Hour Glass Limited and a

Haute Horlogerie.

graduate of Oxford Brookes University with First Class Honours, Michael Tay has acquired diverse experience in

MIDDLE EAST

the watch industry. He serves on the boards of the National

Nailesh Khimji

Heritage Board, STPI and Platform Projects, institutions

Back home in Muscat since 2007, Nailesh Khimji is a keen

which are engaged in the visual arts and heritage sectors.

student of world economic and community affairs. He is

He is also the chairman of Mercy Relief, an international

a director/shareholder of the Khimji Ramdas (KR) Group

humanitarian NGO.

of Companies, one of the largest groups in Oman and prominent in luxury retail.

AMERICAS

He is currently associated with the OCCI’s Economic

Ruediger Albers

Committee and various international organisations,

Ruediger Albers is president of American Wempe

including the Entrepreneurs Organization, Young Arab

Corporation, the US subsidiary of German jeweller WEMPE,

Leaders and the World Economic Forum Young Presidents’

a family-owned business since 1878 with 32 stores in seven

Organization.

countries. Ruediger Albers, a trained master watchmaker, joined Wempe in 1987 in Hamburg before taking over

Abdul Hamied Seddiqi

the helm at Wempe’s US operations which include the

Abdul Hamied Seddiqi began his career at the Ministry of

company’s Fifth Avenue flagship store and a Rolex Boutique

Foreign Affairs in Abu Dhabi as the main liaison for various

inside the Rolex building.

government ministries. Currently serving as the vice chairman of Ahmed Seddiqi

Terry Betteridge

& Sons, he oversees the company’s expansion and has,

Terry Betteridge represents the fifth generation of a family

throughout his career, developed and fostered valuable

whose association with the finest jewellery and silverware

partnerships with principle brands and strategic partners.

dates back to the 1700s in Birmingham, England.

Abdul Hamied Seddiqi has been appointed Ambassador for

As CEO of the company, he has helped turn Betteridge

fine watchmaking by the FHH for the Middle East.

into one of the leading jewellery designers and retailers in

He sits on the board of various companies and government

the world. Today, Betteridge has stores in Greenwich, Palm

organisations.

Beach, Vail, Aspen and Southampton, and a truly global clientele. Terry Betteridge has been featured in articles in The New York Times, The Wall Street Journal and Vanity Fair.

COMMUNICATION Steven Kaiser

In the luxury segment, brand image rests on coherent communication in keeping with the exclusive nature of the product. Similarly, that communication must also adapt to new media leaves no doubt. For fine watchmaking, transparency is a key element in highlighting the full substance and authenticity of a brand and a product.

Steven Kaiser began his career with Baume & Mercier, rising to CEO of Baume & Mercier, USA from 1993 to 1998. For the past 15 years, he has built Kaiser Time Inc. into a large consulting and executive recruiting firm in the watch industry. Steven Kaiser is a leader in industry organisations including the Twenty Four Karat Club of New York, Jewelers Vigilance Committee, Jewelers Security Alliance and American Watch

EUROPE Simon de Burton

cars, motorcycles, fine art auctions and watches. He has

Simon de Burton is a freelance journalist and author

contributed to the Financial Times Watch and Jewellery

whose work is published in titles such as the Financial

report since 2002, and covers watches and the watch

Times, Architectural Digest, the Daily Telegraph and Vogue

auction market for Patek Philippe magazine, Vanity Fair

China. As an employee of Sotheby’s, he specialises in the

“On Time”, GQ, QP, Revolution, Plaza Watch and the Daily

field of luxury living and is well-known for writing about

Telegraph’s “Telegraph Time” supplement.

Michel Jeannot

and the United States, he became editorial director of Car &

Michel Jeannot heads the Bureau d’Information et

Motor magazine in Shanghai in 2001. He went on to occupy

de Presse Horlogère (BIPH) in Switzerland, a team of

various editorial positions and oversaw the launch of several

journalists working with some fifteen media worldwide. His

premium car brand magazines. A true watch aficionado, he

confident and at times caustic style is equally at home with

has spent the last ten years as editor-in-chief of Chronos in

technical subjects as writing about the challenges facing

China, where he has established himself as an undisputed

the sector and its economy. He is founder and editor-in-

authority in editorial content for high-end watches.

chief of Montres Le Guide (205,000 circulation) and of the WtheJournal.com multimedia platforms. His articles can be

Wei Koh

read in Bilan, Le Figaro, Huffington Post and HH Magazine

Wei Koh was educated in North America. In 2000 he

online.

moved to Singapore and began working as a freelance watch journalist. In 2005 he created Revolution, the world’s

Christine Noussan Hodara

first horological lifestyle magazine, now published and

After ten years in fine watchmaking at the Richemont

distributed in 16 international editions. In 2010 Wei Koh

Group (Piaget and Ralph Lauren Watch & Jewelr y),

launched The Rake magazine, “the modern voice of classic

Christine Noussan Hodara joined the Fondation de la

elegance”, which is published in English with licensed

Haute Horlogerie in 2014 to head communications and

editions in Dubai, Russia and Japan. He is the author of

media relations for Watches & Wonders. Now in her role

Making of a Masterpiece, a celebration of Ulysee Nardin.

as director of communications and media relations for the FHH, she uses her proven expertise in media relations,

Sean Li

communications and event management to give greater

Sean Li has always been fascinated by timekeeping, and

visibility to the Foundation’s work.

was truly drawn into its inner workings when he took a close look at a perpetual calendar for the first time. Working

Francesca Romano

in information technology until 2009, his career changed

After a Masters degree in literature and foreign languages,

significantly when he took on the editorial director’s role

Francesca Romano began her career in haute couture

at Revolution magazine in Hong Kong. In addition to

before joining Sondep publishing company. In 2004

Revolution Hong Kong, Sean Li oversees watch content

she contributed to I cronografi Rolex - La leggenda,

for Tatler in Asia, and has been a member of the jury for the

and became editor-in-chief of Orologi & Market. She

Grand Prix d’Horlogerie de Genève since 2012.

also compiled the 2004, 2005 and 2006 editions of Sold! Watches & Wristwatches Auction Results. In 2008

AMERICAS

Francesca Romano founded Milla Editore and acquired

Benjamin Clymer

Orologi & Market-OM Magazine, the leading trilingual

Benjamin Clymer is the founder and executive editor of

Italian luxury lifestyle magazine, specialising in modern and

HODINKEE, one of the most popular digital wristwatch

vintage fine watches. In 2013 she published Chronograph

magazines in the world, and one of Time Magazine’s 50

Wristwatches. Precious Memories of the XX Century.

Best Websites. A well-known tastemaker, Benjamin Clymer has been celebrated by the New York Times as “The High

ASIA

Priest of Horology” and has consulted with such leading

Zhixiang Ding

consumer brands as Ralph Lauren and Apple. He is also an

Zhixiang Ding has an inner passion for mechanics. After

established journalist, holding a Masters in journalism from

beginning his career as a cardiovascular surgeon in China

the Columbia University School of Journalism.

Benjamin Clymer’s interests lie in vintage sports watches of the 1960s and 70s. He sees the wristwatch as the perfect combination of style, engineering and art, and gained his knowledge through years of reading old auction catalogues. Thomas Mao A doctor in psychology, Thomas Mao bought his first “serious” watches in 1976. This was the beginning of a lasting affair with fine watchmaking which would lead to the creation of ThePuristS.com. One of the most important websites for serious watch connoisseurs, it made the transition to a community site in 2001. The affiliated site PuristSPro.com, launched in 2006, has nearly one million unique visitors per month. Thomas Mao advises collectors all over the world on how to expand and elevate their private collections. Joe Thompson Joe Thompson is editor-in-chief of WatchTime magazine, headquartered in New York City. He has covered watches and the global watch industry since 1977. He has been editor-in-chief of three watch-oriented magazines since 1982. Joe Thompson’s articles on watches have appeared in Esquire, Town & Country, Golf Digest, and Switzerland’s Bilanz magazine. He has won seven journalism awards from the American Business Press and the Society of Professional Journalists.

To communicate oneself is Nature; to receive a communication as it is given is Culture. JOHANN WOLFGANG VON GOETHE

CONNOISSEURS AND COLLECTORS

Asia for Richard Mille, managing the Greater China and SE Asia market. In 2007, Carson Chan established Bonhams Auction in Asia and became Managing Director Asia in

Connoisseurs and collectors represent the heart of fine watchmaking, the centre of a dialogue rooted in passion and loyalty. While today’s customers make themselves heard most strongly through social media, personal relations are as fundamental as ever. Brands are engaged in a dialogue with their most staunch supporters, who are a barometer for the profession.

Hong Kong. He led his team to open the Asia headquarters, hold biannual auctions, and set up representative offices in Taipei, Beijing, Singapore and Tokyo. Auro Montanari Auro Montanari has been collecting and studying vintage watches for 35 years, and still spends many hours browsing through watch shops, museums, flea markets and auctions. He is a true horological scholar and serious collector of the highest order, synonymous with expertise, quality,

Aurel Bacs

discretion and taste. Auro Montanari is perhaps best-known

Aurel Bacs is an internationally acclaimed specialist in

to watch lovers by his pseudonym, John Goldberger, as the

collectible watches. As an auctioneer, since 1995 he has

author of 100 Superlative Rolex Watches, Patek Philippe

officiated at several auction houses, most recently at

Watches, Longines Watches and Omega Watches.

Christie’s as international head of watches, during which time he significantly developed sales. Co-founder of watch

William Rohr

consultancy firm Bacs & Russo SA, Aurel Bacs is now

William Rohr is managing director of TimeZone.com, one of

an independent advisor to collectors, manufactures and

the world’s largest online watch discussion forums, where

museums on collectible fine watches, and an exclusive

he has been an important contributor since its founding in

consultant for Phillips watch department.

1995. He is a partner at Digital Luxury Group, a Genevabased marketing and communication research company

Carson Chan

for luxury brands, and a watch consultant for Bonhams.

An international business graduate of California State

Previously, William Rohr was chief operating officer and

University, Carson Chan started his own company in Hong

managing director of Antiquorum SA.

Kong, in 1997. In 2004 he was appointed General Manager

We are what we repeatedly do. Excellence, then, is not an act, but a habit. ARISTOTLE

Tell me and I forget. Teach me and I remember. Involve me and I learn.

department and Restoration department for a major watch brand. Since 2003, Marteen Pieters has been managing director of the WOSTEP Foundation (Watchmakers of Switzerland Training and Educational Program), the reference in education and training for watchmakers. Gianfranco Ritschel After a successful career as a watchmaker with several major brands, including Rolex, Gianfranco Ritschel turned his attention to a different aspect of watches: marketing.

BENJAMIN FRANKLIN

Between 1992 and 1994, he served as marketing and sales manager at Piaget Switzerland. He then moved to Bucherer as branch director, becoming a member of the management team and, at the same time, director

TRAINING

for watches at Bucherer Group. From 2004 to 2008, Gianfranco Ritschel developed the Swiss branch of

Transferring knowledge is a matter of impor tance for fine watchmaking. This investment in the next generations guarantees the profession’s long-term future. Training must cover not just production, which is typically Swiss, but also distribution and sales on an international scale, given the highly specific nature of a fine watch.

Girard-Perregaux and JeanRichard. Since 2009 he has been active as a trainer and consultant. Aurélie Streit Logistics engineer Aurélie Streit served as logistics manager for Sowind group, before spending four years as project organisation manager at Audemars Piguet. She then joined Piaget as marketing project manager for customer service. Since 2014 Aurélie Streit has been training manager at the

Jean-Philippe Arm

Fondation de la Haute Horlogerie, in charge of developing

Born in Sainte-Croix, an anthropologist and graduate in

the Foundation’s various training programmes.

literature, as a journalist Jean-Philippe Arm has written for numerous Swiss publications and reported from locations all over the world. He is also the author of several books. In 1993 he started Montres Passion and was the magazine’s editor-in-chief for 13 years before launching his own magazine, Watch Around, in 2007. Jean-Philippe Arm is seen as one of the leading watch specialists in Switzerland where, over the course of his career, he has come to know almost every watchmaker and workshop. Maarten Pieters Maar ten Pieters worked for a number of years as a watchmaker, restorer and prototypist for complicated watches. In 1998 he took the head of the High-End

PLACE ME LIKE A SEAL OVER YOUR HEART TEXT: DOMI NI QUE FLÉCHON

Much more than a guarantee of origin, the Poinçon de Genève is a seal of quality. Delivered by an independent body, it has achieved the distinction of being the oldest horological certification still in existence and, at the same time, the most modern in spirit, as it is now resolutely focused on what today’s customer expects from their watch.

fine watch is no ordinary product. Akin to an

counterfeiting.

artwork, it must satisfy the most exacting

Clearly then, the Poinçon de Genève is much more than a

demands in terms of the functions it provides

guarantee of origin. It is also, and above all, a guarantee

and meet specific expectations for design

of excellence. In practical terms, it is awarded to quality

and finish. Because the demands made of it are twofold, a

watches that have been developed and assembled

fine watch stands apart from other creations. The Poinçon

in the canton of Geneva. It is granted by an official and

de Genève is the best guarantee of this dual aspiration to

independent body in accordance with strict criteria

be both a functional and a cultural object.

that concern both the movement parts and the watch’s

If we are to fully appreciate the Poinçon de Genève, we

performance.

must consider where and how it originated. Two centuries

The Poinçon de Genève establishes production standards

ago, Geneva was already a thriving centre for watchmaking; more than 100,000 timepieces were manufactured there each year, and watchmaking employed close to half the

This innovative technology also introduces nano-information into the marking to form a totally invisible barrier against counterfeiting.

working population. Naturally, others envied this success and with more and more manufacturers making spurious claims to the Geneva name, the Society of Watchmakers asked the Canton of Geneva for a law that would define rigorous criteria for the authentic Geneva-made watch. It did so on November 6th 1886 with the introduction of a law establishing an independent seal of quality, named Poinçon de Genève (the Geneva Hallmark). This hallmark was reserved for watchmakers within the canton of Geneva whose production complied with a number of highly specific technical criteria. These criteria would be revised several times until the latest reworking in 2011, when two completely new aspects were introduced. Henceforth,

that result in the best possible reliability and exceptional

certification extends to the entire watch – and no longer

finish and decorative details. They apply to the movement,

just the movement – and controls apply to total Poinçon

to the parts connecting the movement with the case and

de Genève production. Never have conditions to obtain the

dial (braces, brace screws, casing rings, etc) and to the

coveted hallmark been so demanding.

watch head (the case with the movement inside). The requirements of the Poinçon de Genève would be of

A QUADRUPLE GUARANTEE

little value were they not designed to meet the expectations

In its latest innovation to date, in 2014 the Poinçon

of the person who will ultimately wear the watch. For this

de Genève adopted nanostructural marking, a new

reason, they offer the customer a quadruple guarantee. The

technique that makes use of next-generation technology.

Poinçon de Genève brings the assurance that the watch

The hallmark is now applied without contact with the

has been assembled, adjusted and cased in Geneva, and

component, which can be part of the movement or the

will always find itself in the hands of experts who perpetuate

case, thereby preserving the complete physical integrity

the aesthetic and technical exper tise of Genevese

of the said component, however thin or delicate. This

watchmaking: this is the guarantee of provenance. The

innovative technology also introduces nano-information

exacting criteria applied to the manufacture and finishing

into the marking to form a totally invisible barrier against

of each component ensure the watch will continue to

dimension, and for this reason it is a guarantee not only of craftsmanship but of a way of thinking. To produce movements and timepieces that comply with these requirements implies that from the very first sketches they are designed in light of these demands”. Other forms of certification exist in Switzerland and can be broadly divided into two types: those which are awarded by an independent body and those which brands organise internally. The Contrôle Officiel Suisse des Chronomètres COSC (which attests to the precision of a movement without its case) and Fondation Qualité Fleurier FQF (the most demanding of all, hence the very limited number of watches with this certification) belong to the category of guarantees awarded by an independent body. Note that certain manufactures opt for different certifications for run reliably: this is the guarantee of reliability. The rating

different types of production. Chopard is one: among

tests carried out on every single watch in conditions

those of its watches it submits for certification, some are

simulating the movements of a watch being worn ensure

labelled Poinçon de Genève, others are COSC-certified,

the accuracy of the cased-up watch in daily use: this is

and a smaller proportion are FQF. In addition, the same

the guarantee of precision. Lastly, the Poinçon de Genève

watch can qualify for two or three of these certifications.

guarantees the flawless quality of the parts, be this in their

In a different vein, a certain number of brands prefer to

manufacture, finish or assembly. It shows that the brand is

certify their production themselves by creating their own

capable of producing and repairing watches according to

quality benchmark. Examples include the 1000 Hours

the principles of traditional fine watchmaking, and that the

Control at Jaeger-LeCoultre and the Patek Philippe Seal

functions promised to the customer have been inspected

(which the Genevese manufacture introduced in 2009 as

by the brand and regularly audited by a neutral and official

a replacement for the Poinçon de Genève which it was no

body: this is the guarantee of craftsmanship.

longer using). The Poinçon de Genève, alongside the most demanding

THE FRONT RUNNERS

certifications, ultimately reinforces the notion of excellence

It will not have escaped the attentive observer that today,

that must automatically accompany a Swiss fine watch.

just four manufactures can lay claim to the Poinçon de

It also builds on the concept of quality represented by

Genève on their production. While Vacheron Constantin

the Swiss Made label, which conveys an image but is for

is, without contest, the most prolific, in this quest for

the most part associated with entry-level timepieces, as

excellence the Geneva firm enjoys the company of other

opposed to the Poinçon de Genève.

highly respected names: Cartier, Chopard and Roger

Hopefully these pages will have gone some way towards

Dubuis. Anyone can join this small circle… provided they

explaining these complex systems, which brands and

comply with the rules. And requirements are such that not

organisations should take upon themselves to clarify.

everyone is admitted. Juan-Carlos Torres, Chief Executive

Indeed, the Poinçon de Genève is never associated with

of Vacheron Constantin, summarises the situation thus:

a brand or a manufacture, but only ever with a watch.

“Beyond its role as a measure of technical expertise,

Something to bear in mind unless, that is, the brand’s entire

the Poinçon de Genève is intimately linked to a cultural

production is certified.

WHEN WORDS ARE ENOUGH TEXT: COSTANZ A UTRECHT-STEI N

The secrets of fine watchmaking can also be passed on through images combined with a fun, simple, yet intelligent play on words which shows how meanings, when taken out of context, arenâ&#x20AC;&#x2122;t always set in stone.

atelier-zuppinger.ch

Fusée Engin autopropulsé ou élément de mouvement horloger ? Découvrez l’univers de l’horlogerie d’exception, sur www.hautehorlogerie.org

Crown Royal headgear or watch winder? Discover the world of Fine Watchmaking at www.hautehorlogerie.org

Crown | The winding crown is a knurled or fluted button of various shapes, held between the thumb and forefinger and used to wind the watch. Some crowns incorporate a mobile pushbutton for operating a chronograph mechanism or to release the cover of a hunter case.

Fusée | Organe de forme à peu près conique muni d’une rainure hélicoïdale sur laquelle s’enroule une corde ou une chaîne reliée au barillet. La fusée régularise la force motrice transmise au rouage. Presque toutes les montres des XVI e, XVII e et XVIII e siècles ont des fusées. La corde en boyau fut remplacée par une chaîne vers 1640.

s the coq ancien an aging rooster or part of a

the value of words is increasingly in decline – it uses words

movement? Is the barrel a unit of measurement

in a decidedly curious way that relies on our desire to

for oil or an essential component of a watch? And

understand and learn.

what of Côtes de Genève? Are they vineyards or a

Nor does it serve up a ready-made dish, the kind to be

decorative pattern used in fine watchmaking?

consumed in haste – which Ernest Hemingway defined

The answers are to be found in an unexpected and

as “the necessity of accomplishing something in less time

ingenious campaign from the Fondation de la Haute

than should truly be allowed for its doing”. In contrast, the

Horlogerie in Geneva, which exemplifies the difficult art of

time that we devote to precious objects; objects made with

simplicity. Carefully chosen texts cast doubt in the reader’s

love and which we thought we knew by heart, yet which

mind, and encourage us to think again. What first appears

still reserve the surprise of a tiny but fundamental detail

as a fun play on words reveals, among other things, how a

that had escaped us, is a slow, leisurely, introspective time.

word taken out of context never has a categorical meaning,

Plate: tableware or part of a watch movement? Crown: royal

and that the relation between a word and the entity to

headgear or watch winder?

which it refers is arbitrary.

It is astonishing how our understanding of things large and

This is a campaign that swims against the tide precisely

small can sometimes come through a piece of advertising,

because in an age awash with images – an age in which

where usually the “word” is identified with the brand

atelier-zuppinger.ch

Plate Tableware or part of a watch movement?

Ancre Amarrage ou pièce de haute horlogerie ?

Discover the world of Fine Watchmaking at www.hautehorlogerie.org

Découvrez l’univers de l’horlogerie d’exception, sur www.hautehorlogerie.org

Plate | The plate which bears the various movement parts and in particular the bridges. The dial is usually affixed to the bottom side of the plate. The plate is pierced with holes for the screws and recesses for the jewels in which the pivots of the movement wheels will run.

The time that we devote to precious objects made with love and which we thought we knew by heart, yet which still reserve the surprise of a tiny but fundamental detail that had escaped us, is a slow, leisurely, introspective time. itself. In our particular case, we are instead introduced

their repositories. Curiosity is the beginning of a story that

to the secrets of fine watchmaking through a simple but

stirs our interest and makes us want to learn more. It is said

witty message, intended not so much to present the end

that a picture is worth a thousand words. In this instance,

product – the watch – as to communicate the tradition,

the word is worth more than many pictures. Words without

the wealth of knowledge, the passion, the experience, and

rhetoric or exaggeration. For elegance is a question of style,

the expertise of the companies and manufacturers that are

measure, balance and good taste.

ACTIONS For watchmaking’s most venerable Maisons, ten years is little more than a heartbeat. For the Fondation de la Haute Horlogerie (FHH), ten years have been sufficient for its activities, at first considered anecdotal, to have become indispensable. Viewed as a cultural microcosm, fine watchmaking has inspired the FHH to take on a mission of training and information intended to communicate knowledge through relays across all five continents. Ten Years of Action, Ten Years of Passion recounts this fabulous adventure, and tells how the Forum de la Haute Horlogerie came into being. This annual gathering brings together a who’s who of personalities to debate ideas of topical interest to the watch sector. Read about the captivating themes discussed in 2014 under the title: What’s Next – Generations, Technologies, Markets.

TEN YEARS OF ACTION, TEN YEARS OF PASSION TEXT: FABIENNE LUPO PHOTOMONTAGE: SI LVI A BADALOTTI

For ten years now, the Fondation de la Haute Horlogerie has worked to defend the values of fine watchmaking and promote this extraordinary art by taking action to inform, innovate and train; its three principal missions. A look back at some of the highlights.

or many years, f ine watchmak ing was

Almost immediately the Foundation came up against its

embodied in the Salon International de la

first major challenge, namely to specify what constitutes

Haute Horlogerie (SIHH). Then in 2005, the

fine watchmaking. To this end, it established a Cultural

Fondation de la Haute Horlogerie (FHH) was

Council of sixteen members. Experts and collectors,

incorporated to highlight its cultural and universal dimension.

retailers or journalists, they were all independent of brands

Three founders were behind this pioneering initiative: Franco

and internationally acknowledged in their field. This

Cologni for the Richemont Group, Jasmine Audemars for

Cultural Council drafted a Fine Watch Manifesto and was

Audemars Piguet, and Gino Macaluso for Girard-Perregaux.

subsequently able to define a perimeter that included some sixty fine watch Maisons. Almost half of them would choose

STARTING OUT

to join and support the FHH in pursuing its objectives.

It was, in fact, in September 2004, behind the walls of the

Today, the Foundation has twenty-six partner Maisons and

Forbidden City in Beijing, that an exhibition of watchmaking

enlists the services of its twelve international delegations to

– one which significantly emphasised cultural content –

locally implement the actions it develops and constantly rise

provided the spark for what would become, twelve months

to new challenges.

later, the Fondation de la Haute Horlogerie. While it wasn’t yet exactly clear how it would be achieved,

INFORM

the objective behind the creation of the FHH was set in

The first of these challenges would be to provide information

stone: to define the perimeter of fine watchmaking in order

about fine watchmaking, beginning with the launch, in

to defend its values and promote this activity around the

January 2006, of the Foundation’s website, followed a year

world. And so ten years ago, the FHH became, in effect, the

later by the online HH Magazine, reporting from the heart of

Ministry of Fine Watchmaking.

watchmaking. Together they form a constantly expanding

multimedia platform – the most recent major addition is a

INNOVATE AND QUESTION

complete inventory of the watchmaking professions, schools

The FHH’s commitment to fine watchmaking in the future

and training centres – thanks to which the Foundation can

is contained in its second mission of innovation for which

pride itself on offering the foremost independent reference

it plays the role of think tank, raising the all-important

site on fine watchmaking… and in four languages.

questions that will mark out tomorrow’s new directions. This

The Foundation also participates actively on social media,

is evidenced in the Forum de la Haute Horlogerie, which

all across the world.

held its first edition in November 2008 at the headquarters

Throughout its ten-year existence, the FHH has often

of the World Economic Forum in Geneva, and whose most

chosen print as the medium for its mission to inform.

recent and sixth edition took place on November 13th

Publications include the annual HH MAG, presented as a

2014 at the Institute for Management Development (IMD)

supplement with the Financial Times, as well as the Fine

in Lausanne.

Watch Journals which round up the year’s new trends or

By extending the debate far beyond questions of immediate

summarise twelve months of market surveys on luxury and

concern to watchmaking, the Forum has become a hotly

fine watches.

anticipated event, no small thanks to the quality of its

The FHH is also behind such authoritative reference works

speakers who are often dazzling, occasionally surprising,

as The Mastery of Time, published by Flammarion in three

and always thought-provoking. Audiences no doubt

languages, French, English and Simplified Chinese, and

remember keynote presentations by former president of

soon to be joined by a version in Italian.

France Valéry Giscard d’Estaing, photographer Oliviero

As early as 2007, the Foundation trained the spotlight on

Toscani, Germany’s former foreign minister Joschka Fischer,

the savoir-faire and expertise of the men and women who

chairman of the Nestlé board of directors Peter Brabeck-

imagine and bring to life exceptional timepieces in a series

Letmathe, author and political advisor Jacques Attali, best-

of films titled Masters of Fine Watchmaking. These have

selling novelist Paulo Coelho, philosopher Luc Ferry, and

since been broadcast on television networks around the

recent contributors such as Axel Dumas, CEO of Hermès

world.

International, and author Frédéric Lenoir.

Informing on fine watchmaking also means providing

For the Foundation, innovation also means lending support

opportunities to learn about fine watchmaking. This is the

to causes which it deems essential when defining the

role played by the many exhibitions which the Fondation

contours and values of tomorrow’s fine watchmaking. This

de la Haute Horlogerie has curated since the very first, in

has motivated the Foundation to become a member of the

Rome, at the Palazzo Incontro in October 2007.

Responsible Jewellery Council, and to take an active part

To date, the FHH has shown more than twenty thematic

in numerous actions against counterfeiting, including Swiss

exhibitions at locations worldwide, from the Swiss Cities

Day Against Counterfeiting in 2013, which it organised in

Pavilion at the Shanghai World Expo in 2010 to Tokyo as

conjunction with the Federation of the Swiss Watch Industry.

part of celebrations for the 150th anniversary of diplomatic relations between Switzerland and Japan in 2014; not

TRAIN

forgetting the Kremlin Museum in October 2011 and

One of the most strategically significant roles taken on by

numerous other cities – Paris, London, Vienna, Mexico City,

the Fondation de la Haute Horlogerie over the past decade

Hong Kong – in between.

is, without question, training. The world has changed, fine

A new date has already been set as the FHH presents

watchmaking has evolved, yet training hasn’t always kept

The Mastery of Time exhibition from April to June at the

pace. One of the most striking developments has been

Pinacoteca Ambrosiana in Milan, coinciding with the Milano

the emergence of a retail network, serving an increasingly

2015 universal exposition, hosted by the city.

knowledgeable clientele.

Innovation also means lending support to causes which the FHH deems essential when defining the contours and values of tomorrow’s fine watchmaking.

Within this context, the Foundation has developed a training activity to complement brands’ own substantial efforts. In 2010 it launched Watch@Tablet, a learning resource for staff on the sales floor. At the same time, it has worked to develop a wide range of training programmes to enable staff across the sector to develop their competencies. Today, the Foundation can deliver tailor-made courses alongside ready-made modules that match the learning needs of sales staff, who are on the frontline of customer service. Beyond this, the Foundation’s training is devised so as to provide an all-round “culture of watchmaking” to all staff at the brands. Thanks to its continued efforts, in addition to its Watch Basic and Watch Advanced courses, and its initiation to watchmaking workshop, the Fondation de la Haute Horlogerie proposes a

give added credibility to both the sector and the brands who

new catalogue of training modules focused on complications

are its foremost ambassadors.

– Chrono Class, Tourbillon Class, Calendar Class and

This round-up of the Fondation de la Haute Horlogerie’s

Worldtimer-GMT Class – which it can implement anywhere

first decade would not be complete without a few words

in the world.

on the creation and organisation, since 2013, of Watches

Training can also be about rolling up one’s sleeves and

& Wonders in Hong Kong. Comparable to the Salon

having a go; something the Foundation has made possible

International de la Haute Horlogerie (SIHH) in Geneva, this

since 2009 thanks to workshops where members of the

time in Asia and open to the public, it immediately filled

public can try their hand at taking apart then reassembling

a gap. The third edition this autumn already promises to

a simple mechanical movement. A journey into the heart

be one of the major events in the global fine watchmaking

of the watch, these workshops are organised at fairs and

calendar.

other events attended by the Foundation, and on the first

Thanks to this new fair, which put out its first shoots in 2004

Wednesday of the month at the Palais de l’Athénée in

inside the Forbidden City in Beijing, the Fondation de la

Geneva.

Haute Horlogerie confirms its role as a pioneer and now

Lastly, training means aler ting young people to the

reference for fine watchmaking around the world.

professions and careers available in fine watchmaking,

Over the course of these ten years, chaired first by Franco

which the Foundation does through talks and lessons at its

Cologni whom I succeeded in 2010, the Fondation de la

partner-schools. The Foundation was also instrumental in

Haute Horlogerie has rallied many different players around

setting up the first Masters in Luxury Management, in 2009,

the concept of fine watchmaking. Since 2005, it has brought

at the Haute Ecole de Gestion (HEG) in Geneva.

independent watchmakers, representatives of major groups and family-owned businesses together in pursuit of a shared

AN INTERNATIONALLY RECOGNISED

ambition. As its missions and projects have grown, so has

CERTIFICATION

the Foundation. Twenty-eight permanent staff now devote

Training means knowledge and knowledge has to be

their time to developing new projects, to training, organising

assessed, hence the launch, in early January in the United

events and responding to all types of inquiries and requests.

States, of the Foundation’s latest innovation. HH Certification

In a word, to ensuring the Fondation de la Haute Horlogerie

will carry the message and values of fine watchmaking, and

will continue to fulfil its mission for the decade to come!

WHAT’S NEXT TH 6 FORUM DE LA HAUTE HORLOGERIE BRUNO GIUSSANI, EUROPEAN DIRECTOR OF TED, IN CONVERSATION WITH ALBERTO CAVALLI

New generations, new markets, new technologies: how does fine watchmaking respond to the challenge of “what’s next”? The 6th Forum de la Haute Horlogerie, held at the IMD in Lausanne on November 13th, 2014, set out to suggest answers or at the very least to enrich debate.

s always, the purpose of the Forum was to give the sector’s players “a global view”, as its moderator Bruno Giussani confirms: “The Forum was originally devised by specialists

in fine watchmaking for other specialists. However, as of the second year we realised that this conference had to provide more than that. It had to be somewhere to reflect on business-related factors – the business context, innovation strategies – but also the major trends which, directly or indirectly, influence the sector and its companies,

Franco Cologni, Fabienne Lupo, Bruno Giussani.

things like demographic change, the impact of technology and geopolitics, as well as sources of inspiration, including

enormous psychological and sociological significance,

those on the sidelines of the industry itself but which help

not only because of the possibilities technology offers

redefine a context and think differently. The Forum is

but also because of the way young people relate to these

intended as a 'pause for thought' each year.”

possibilities, and therefore how they position themselves

Bruno Giussani has been involved in the creation and

in relation to values and status symbols, which includes

development of the Forum de la Haute Horlogerie since

how they engage with luxury. Technology has become

day one. Following this sixth edition, he confirms that these

an extension of the individual, and this has opened a new

gatherings leave visible and ultimately very useful traces.

page. For example, friends’ opinions have more of an

Alberto Cavalli: What elements does the Forum help

impact than advertising. Every brand is attentive to and

bring to light? Elements that leave a useful trace which

studying this phenomenon. As Franco Cologni, president

participants can follow to gain a better understanding of

of the Foundation’s Cultural Council, says, an interactive

this “global view”?

element comes into play and creates a less vertical, less

Bruno Giussani: We don’t expect there to be a direct

structured, less linear, more fragmented way of seeing

impact, something immediately applicable. Our aim is to

things. What impact this will have remains to be seen. The

help the watch industry re-evaluate itself and be more

aim of the Forum is also to help understand it all.

tuned-in to trends and changes. Hence why we invite

AC: So we need to be working on a new concept of

speakers from many and varied sectors and domains. This

authenticity? Not just for the product but also the social

year we especially wanted to highlight the role played by

impetus that grows up around it.

young generations, and so for the first time we had thirty

BG: The underlying issue, I believe, is that so many

students in the audience from each of the French-speaking

things change all at once, and we can’t develop a tactical

universities in Switzerland. Looking at the context from a

and strategic approach in one area without taking into

new angle gives a better understanding of it, which is one

consideration changes and impacts on other areas.

of the Forum’s principal objectives.

Hopefully the sixth Forum opened a lot of doors in this

AC: The sixth Forum considered the challenges we’ll all

respect, with speeches that touched on developments in

have to deal with in the future. We talked about speed

technology, demography and the economy. All these areas

and slowing down, for example, but also generations and

are intermingled, and answers have still to be invented.

technologies.

AC: The mean age is clearly lower in emerging countries or

BG: Yes. We tried to define and decipher the generation in

in markets that will develop in the future. At the same time,

question, meaning Millennials, the young people who grew

the most developed markets give young people political

up with internet and mobile phones. In my mind, this carries

freedom and freedom of expression which their country

The aim of the Forum is to help the watch industry re-evaluate itself and be more tuned-in to trends and changes.

doesn’t always guarantee. Does it make sense to think in terms of “young energy in exchange for freedom”? BG: In a lot of cases, the political systems are more solid and more durable than we imagine, so I don’t believe such an equation immediately applies. Within the specific context of luxury, it is true that a better level of schooling or, more generally, consistent cultural development make both young people and customers in emerging countries more receptive to the authentic nature of luxury goods, as well as more sophisticated and therefore more demanding in their purchases. Obviously context plays an important role in how luxury goods are chosen and perceived.

AC: What ideas does the Forum throw out that participants

AC: Young generations aside, are there other demographics

should take onboard?

with which we’re possibly less familiar, and which could

BG: One thing the Forum has shown is that in the current

reserve some surprises?

climate, it’s important to know how to handle uncertainty,

BG: We instinctively equate any talk of “demographic

to see how different factors interconnect, and to know

change” with Millennials, but there is another group that

where the grey area lies. So many things are changing, all

warrants our attention, and they are the Baby boomers,

at the same time, and each has an influence on the other.

the oldest of whom are entering retirement. The youngest,

Rather than ruling once and for all that this is the direction

those born in 1964 when the birth rate in Europe shot

to take, we need to be flexible and ready to change tack

up, have now turned fifty. This generation, which should

based on feedback loops. This is why the Forum also

ideally enjoy more time, more resources and have fewer

looked at speed and slowing down as essential factors

vital needs to fulfil, should be kept under observation, if

when deciding which direction to take, in what is an ever

only because of their sheer number and purchasing power.

more complex and interdependent context.

FOCUS

Asia in general, and China in particular, have become prime destinations for Swiss watchmakers. The Asian Obsession traces the incredible rise of China, and the propensity for luxury among Chinese tourists. Fine watchmakingâ&#x20AC;&#x2122;s international presence demands that sales staff play an ever more professional role. With this in mind, the Fondation de la Haute Horlogerie has developed a completely new type of certification that could well become a benchmark, and open doors for professionals across the watch sector. No doubt such a programme could benefit the TimevallĂŠe stores, an original approach to sales described in A Multibrand Concept Launches a New World of Watches.

PUT TO THE TEST TEXT: MICHEL JEANNOT

Remember the name: HH Certification could well become the new buzzword in fine watchmaking. Initiated and developed by the Fondation de la Haute Horlogerie (FHH), this international evaluation fills a gaping hole. Designed first and foremost for sales staff, it could quickly become the benchmark for watchmaking knowledge and open doors for professionals in the sector.

umerous sectors routinely assess and

service. While brands have put together a variety of training

certify an individual’s knowledge of that

programmes, they are logically more concerned with the

particular environment. Watchmaking had

said brand than a general understanding of watchmaking.

been lacking such a system. Until, that is,

And professionalism is measured by an individual’s capacity

the Fondation de la Haute Horlogerie (FHH) came forward

to embrace an environment in its widest sense, as opposed

with the idea of an international certification worthy of the

to specific knowledge of a certain product or marque.

name. After several years of development, in collaboration

Until now, there was no means of testing this “global

with numerous experts, HH Certification is now a reality.

culture” with respect to watches in general, and fine

The first exam sessions are being held in the United States,

watches in particular.

shortly followed by Europe. The programme will then be extended to Chinese, once feedback from the first tests

THREE LEVELS OF CERTIFICATION

has been received.

This gap has now been filled thanks to the launch, early this

Fine watchmaking’s meteoric growth over the past twenty

year, of HH Certification. Developed and produced by the

years, and the attendant expansion of the sales network,

FHH, this “international test in watches and watchmaking

has led to the emergence of a new generation of more

for fine watch sales professionals and other non-technical

or less qualified sales staff. Depending on the region

staff” is a first in the sector.

and the market, customers sometimes find themselves

The FHH set out to fulfil four major objectives: set a high

conversing with a sales associate who knows less than

standard for watch sales; create awareness of the situation;

they do… which is embarrassing to say the least for a high-

bring about positive emulation in the markets; improve the

end product one would naturally associate with flawless

customer experience to develop sales.

Professionalism is measured by an individual’s capacity to embrace an environment in its widest sense, as opposed to specific knowledge of a certain product or marque.

In practical terms, this new HH Certification builds on

The first exam sessions will take place in March in the

several channels: an online platform enables candidates to

United States, then in Europe before summer. The entire

enrol and answer practice questions before sitting the actual

programme will be presented in Asia in September, at the

test, which is held in exam centres directly in the markets.

Watches&Wonders fine watch exhibition in Hong Kong.

The test lasts for two hours and comprises 160 questions

HH Certification has been developed primarily for sales

covering four subjects: 60 questions on watchmaking

staff, but isn’t reserved just for them. Any interested

techniques, 50 on market players, 30 on materials used

party can brush up their knowledge to attain the required

in watchmaking, and 20 questions on culture and history.

standard and take the test leading to certification. The

As well as answering questions, candidates are required

Fondation de la Haute Horlogerie has made various

to indicate their level of confidence each time. This dual

resources available to this end. In addition to the online

system dramatically reduces the potential for candidates

platform, potential candidates can consult the FHH’s

to score points through random answering. Three levels of

website (www.hautehorlogerie.org), or its Watch@Tablet

certification – Advisor, Specialist, Expert – are awarded to

application (available from the App Store), in addition to

successful candidates based on their final result.

the range of reference books on watchmaking, specialist

When developing this certification, the FHH benefited from

websites, brands’ own publications and other works on

the expertise of its own teams and input from a range of

the subject (the enrolment fee includes a recommended

specialists. A fifteen-strong advisory committee validated

reading list). In this respect, HH Certification not only

the 2,500 questions which have been drafted to date (the

evaluates knowledge, it also motivates anyone involved in

database will be regularly extended with new questions).

watchmaking, or with an interest in watches, to develop

Experts in evaluation methodology designed the scientific

their understanding of the subject. The benefits of this

functioning of the test.

pioneering programme are such that it could rapidly become a benchmark for the watch sector, and this well

FIRST SESSIONS IN MARCH

beyond its principal target of sales. HH Certification could

Presented and launched in New York on Januar y

become a passport to success in creation, marketing and

9th this year, HH Cer tification can be accessed at

communication too.

www.hhcertification.org for information and to enrol.

THE ASIAN OBSESSION TEXT: SEAN LI

More than 16,000 people visited Watches & Wonders 2014, which ran from September 30th to October 2nd in Hong Kong, seduced by authentic values and a particular blend of design, technology and craftsmanship that fascinates Greater China.

hen living in Hong Kong, it’s easy to

Growth has been equally staggering: while the entire

become somewhat blaséd when it

Swiss watch industry has gained 112% since the year

comes to watches of any kind. The

2000, exports to Hong Kong alone have grown 190%, and

numerous watch and jewellery shops

in 2013 represented 19% of total exports, compared with

that pepper all the main commercial districts make Hong

14% in 2000. Although these figures are impressive by

Kong a shopping mecca for anyone with even a passing

any standard, there’s another market that literally crushes

interest in watches. I find it a mind-boggling statistic that,

those numbers: China. In 2000, China barely registered on

according to the Federation of the Swiss Watch Industry

the Swiss watch industry’s radar, with less than 0.5% of

(Fédération de l’industrie horlogère suisse – FH), Hong Kong

exports sent there. In 13 years, that number has grown by

has been one of the top two markets in the world, the other

3,114%, and is now around 7% of the industry’s exports.

being the USA. Of course, it’s not local consumption that

This means that, combined with Hong Kong, the region we

drives this marketplace; with around 7 million inhabitants,

commonly refer to as “Greater China” now represents fully

or roughly the same as all of Switzerland, Hong Kong has

more than 25% of the industry’s total exports. If we expand

long relied on tourism to drive its local businesses.

our focus to more of Asia, and include two additional major

This propensity for luxury from Asian markets, such as Hong Kong and Singapore, is not a recent phenomenon; however, wealth explosion in China itself over the past decade has created tremendous demand that has spread across the region. 49

markets, Japan and Singapore, no less than 36% of the

content with local provisions, they also want to buy watches

yearly production of watches in Switzerland is now destined

wherever they travel.

directly for Asia.

This propensity for luxury among Asian buyers is not

While these numbers address the Swiss watch industry

a recent phenomenon; luxury brands across multiple

as a whole, it must be pointed out that the product mix

industries have established footholds in the region’s major

has changed drastically within the past few years, with

cities for many years, and the local markets, such as Hong

a very strong focus towards high-end timepieces. In

Kong and Singapore, can be considered mature. However,

2010, watches that cost more than 3,000 Swiss Francs

wealth explosion in China itself over the past decade has

represented just 1.6% of exports by units, and 34% in terms

created tremendous demand that has spread across the

of value; by 2013, these numbers were 5.6% in terms of

region. Much of Hong Kong’s growth since 2000 can be

units, and 65% in terms of value, which means much of

attributed to its proximity to the mainland, and the gradual

the growth in the industry has been spurred by demand

lowering of travel restrictions from the mainland to its

for luxury timepieces.

neighbouring regions. According to the Boston Consulting

There is also another trend which cannot be tracked

Group, there were 2,378,000 millionaire households in

directly through these export numbers, but which I’m sure

China in 2013, an increase of 82% over 2012, which now

most of you will have noticed if you’ve entered any watch

ranks China second on the worldwide list; in comparison,

boutique in the major tourist destinations in Europe; you are

the US had 7,135,000 millionaire households, while the

almost as likely to hear Chinese being spoken as you would

third-ranking country, Japan, had 1,240,000. Along with

French or English, indicating that Asian buyers are not only

this growth in wealth came an increased interest in all

The brands that have continued to follow their historical guidelines and classical values are the ones that have gained the most interest from the Asian market, and in particular the Chinese consumer.

to the Chinese customer, classical values, and historic brands, are very much in demand. If you compare with the rest of Asia, local tastes are, perhaps, much more evolved. Hong Kong and Singapore are key markets for the emerging brands, and are much more open to new materials and designs. Korea has been cited as a country with strong potential as well, although much of that seems to be focused on travel retail. Overall, for the region’s high net worth consumers, fine watchmaking is a very accessible draw for their disposable income. While Europeans or Americans may be interested in property, wine, or automobiles, Asians have generally much less access to those kinds of investments. Investment property has become almost prohibitively expensive in certain cities, and automobiles are not as easily traded;

luxury goods, with fine watches being naturally included. It’s

Hong Kong and Singapore in particular have extremely

certainly no wonder that Chinese customers are drawing

high taxation on automobiles, considerably reducing their

so much attention from international brands.

investment potential.

Interest may have initially been driven by a desire to place

Of course, it’s not just the investment potential that has

this newfound wealth into tangible goods. Luxury items,

driven the Asian interest in luxury watches. There is a

and watches in particular, represent readily available

fascination for craftsmanship and authenticity that makes

items with generally well-retained value over time. It was

the finest Swiss watches a natural draw. As such, the

not unusual, just a few years ago, to see Chinese tourists

brands that have continued along their normal path,

entering a boutique, and being more interested in price,

following their historical guidelines and classical values, are

specifically the most expensive items. They were not familiar

the ones that have gained the most interest from the Asian

necessarily with the brands, sometimes not knowing how to

market, and in particular the Chinese consumer. There is

pronounce them, although the knowledge base has greatly

little need to make watches that are tailored “for China”, as

evolved since then.

these are not necessarily perceived as genuine.

Local demand has been hampered by two factors: the

Even though Asian collectors do travel significantly, there

numerous taxes in China, and the recent political climate,

was a perceptible need to bring more of these genuine

which has taken a very stern approach towards the gifting

values, and to present the brands in their finest Sunday

that was prevalent in recent years. The latter was estimated

attire to the local enthusiasts. Many brands have made

to represent some 30% of local business, and has virtually

regular travelling visits to Asia every few months, but in the

vanished since the current administration imposed strict

past two years, Hong Kong has been hosting an event on

guidelines to stamp out ostentatious spending.

a much larger scale: Watches & Wonders. The format will

However, the knowledge and appetite of the Chinese, and

be familiar to anyone who’s been to the Salon International

it must be said, the Asian watch enthusiast in general, has

de la Haute Horlogerie (SIHH) in Geneva, but the fact is,

only been whetted over that time. The Chinese collector,

given the nature of SIHH as a trade event, the subset of

in particular, has evolved, and is becoming much more

visitors to SIHH who can be considered watch collectors

specific in what he or she is looking for in a watch. While

and enthusiasts is actually quite small. By grouping most of

some functions, in particular chronographs, do not appeal

the same maisons in Hong Kong, Watches & Wonders has

provided a venue where the invited public has been able to

By grouping most of the same maisons in Hong Kong, Watches & Wonders has provided a venue where the public has been

gain much more knowledge about the maisons and their history than would be possible from a boutique visit alone. The first year was considered a great success, with some 16,000 visitors over the course of four days, but I would submit that this yearâ&#x20AC;&#x2122;s exhibition was even better, for it saw the same number of visitors in spite of the political protests taking place just a few blocks from the Hong Kong Convention and Exhibition Centre. Even though there were some unavoidable last-minute cancellations, there were many visitors who made a concerted effort to come to the exhibition, to admire the latest collections, with some placing immediate orders for even the most complicated

in Asia. The political climate and guidelines in mainland

and expensive pieces. There has been much discussion

China continue to have an impact, and the gifting market is

about the immediate future of the watch-related business

not expected to be revived any time soon. I would submit

average price of a luxury watch has outpaced even the

able to gain much more knowledge about these maisons and their history than would be possible from a boutique visit alone.

growth of the industry. Brands that have focused on the mid-to-lower priced segments, while still providing finely crafted timepieces, have seen considerable interest. Also, the market itself is becoming more globalized, and the Asian buyer is not necessarily making the purchase at home; but at the end of the day, the purchase is still made, and the brands, when asked about growth on a global basis, are generally satisfied. The year-on-year doubledigit growth that theyâ&#x20AC;&#x2122;ve enjoyed in the past five years was simply unsustainable; steady, single-digit growth year-onyear is still very welcome. So while some short-term targets

though that enthusiasm and interest in the region has

may need to be adjusted, the industry is still growing, and

certainly not slowed down, but that it has rather shifted

as Watches & Wonders showed, there doesnâ&#x20AC;&#x2122;t seem to be

towards more moderate pricing as, it must be said, the

much to indicate that interest is waning.

A MULTIBRAND CONCEPT LAUNCHES A NEW WORLD OF WATCHES TEXT: CHRISTOPHE ROULET

The first ever TimeVallée store has arrived in Nanjing, China. Open to all Swiss watchmakers, this multibrand concept is destined to spread to emerging markets to satisfy the most demanding fine watch enthusiasts while introducing the uninitiated to luxury timepieces.

n mainland China, a visit to a multibrand store

aimed at reinventing a multibrand concept for luxury

in search of a new watch is an experience one

watches. TimeVallée will give brands a means for effective

tends not to forget. Either because it resembles

development in new territories. Stores will be operated by

a blindfold walk through a bazaar, or for the

independent partners and will therefore have the potential

clinical coldness of an empty, soulless space tended by

to include any brand that is interested in joining.” Initially

obstinately silent staff. Imagined as the antidote to this

the project’s inventors searched for viable solutions that

type of frustration, TimeVallée is opening its first store in

would involve major international retailers. “To no avail.

Nanjing, capital of the Chinese province of Jiangsu. So

Seemingly the initiative had to come from the watchmakers

what exactly is the concept? TimeVallée styles itself as

themselves.”

a new kind of multibrand store; one that is adapted to markets in desperate need of quality distribution channels

THE PARISIAN EXAMPLE

for fine watches.

TimeVallée’s founders only need turn to Paris for proof of

It’s a simple fact: no such independent structure exists

the project’s feasibility. Here, in the luxury capital of the

in today’s emerging markets. As for the multibrand

world, Bucherer has succeeded in creating a point of sale

networks that have seen daylight in China or Russia, for

capable of extending a professional and respectful service

example, these are recent ventures with no real history

to the city’s millions of foreign visitors. The biggest watch

and even less horological culture. The idea for TimeVallée

store on the planet opened its 23,000 square feet in April

was framed within this context. It is “an open project

2013 and, judging by the brands in its windows, and even

TimeVallée store. Rendition: Au-delà de l’idée.

before the first sales figures were known, the adventure

task. Brands make life hard for them by demanding more

was already crowned with success. No fewer than 23

square feet for their products, not to mention those that

watchmakers rub shoulders, hailing from the Richemont,

insist stores carry other brands from the same group. This

Swatch, LVMH or Kering stables as well as upscale

leads to impossible situations and the demise of the retail

independents, the likes of Rolex and Chopard. A gathering

profession.” For this reason, TimeVallée operates on clearly

of rivals many thought impossible. The formula has proved

established principles. Three categories - “Traffic Drivers”,

such a hit that others have been drawn to the vicinity.

“High Sellers” and “Active Contributors” - determine

Cartier has taken the adjoining premises on Boulevard

how space is allocated to the different brands, based

des Capucines, with its own entrance. TAG Heuer is also

on revenue. And just to make clear that this is a genuine

a neighbour. Omega, meanwhile, has taken up residence

multibrand point of sale, large common areas are set

on the opposite sidewalk. It’s been said that the retailer

aside with the different “boutiques” positioned along them.

capable of bringing Cartier, Omega and Rolex under one

Between ten and fifteen brands can thus share an area of

roof would rule the world. This isn’t quite the case in Paris,

some 3,000 to 5,000 square feet.

but Bucherer has certainly come close. With no chance of a repeat performance on Asian soil,

A HIVE OF TECHNOLOGY

TimeVallée was all the more welcome. “Retailers today

A visitor’s encounter with a TimeVallée store begins at

are forced to position themselves as clearly as possible

the Watch Bar, a circular display shared by all the brands

at entry-level, mid-range or high-end, which is no easy

that offers a foretaste of how each one approaches time

WatchSlate interactive table, designed by TimeVallée. Rendition: Au-delà de l’idée.

measurement. This leads to a HotSpot, where the emphasis

foot, and this hasn’t gone unnoticed. However, space is

is on a particular theme or the year’s new products.

at a premium and malls need to diversify the names on

This first area opens onto three salons, which are also

offer if they are to maximise footfall and sales. Thanks to a

shared spaces: the Atelier where visitors can learn more

prestigious selection of brands combined with an innovative

about the products and their specifications, the Atelier

customer experience, TimeVallée finally opens up prime

de Style for an immersion in each brand’s world, and

locations to a multibrand point of sale. More traffic and

the Chambre Secrète for VIPs. Needless to say, each

higher visibility will translate to increased sales.

TimeVallée store recreates the warm, welcoming, intimate

The Nanjing store boasts brands from Richemont,

atmosphere that is proper to fine watchmaking, but does

Rolex and LVMH Watch & Jewelry. Additional points of

so using the very latest technologies. Touchscreen tables

sale should follow in the near future as more and more

in the Atelier bring the mechanical heart of the movement

brands get behind the concept. TimeVallée is set up as an

to life, or propose a comparison of the products offered

independent company whose board of directors is open

by each of the represented Maisons; the lightest stroke of

to partner distributors that wish to become part of growing

the TimeLine, a spectacular digital column at the entrance,

this franchise network. Chow Tai Fook is first to have

sets the chosen brand’s history in motion; in the Chambre

seized the opportunity and is ready to develop TimeVallée,

Secrète, a customer can communicate by videoconference

beginning with Nanjing.

with the watchmaker at the Manufacture that imagined

Other independent distributors should follow with their

“their” watch… “Every detail has been designed to make

own TimeVallée operations. The more brands there are,

each visit a unique experience and an opportunity to

the more distributors there are, the better it will be, and

discover, or discover anew, watchmaking,” explains Renaud

TimeVallée has been incorporated as an open entity to

Litré, head of development for the TimeVallée concept.

this end. With the necessary structures in place, the next objective is to launch some fifteen points of sale in China

PRIME LOCATIONS FOR TOP PERFORMANCE

in quick succession. Demand isn’t lacking, and if the idea

TimeVallée is also attracting interest from shopping malls:

proves its worth it will move to the next level and locations

watches often generate the best productivity per square

inside premier shopping malls.

Claude Joray has captured in images a selection of watches by the Fondation de la Haute Horlogerie's 26 partner-brands, as a glimpse of the year's most noteworthy creations.

RICHARD LANGE PERPETUAL CALENDAR “Terraluna” Regulator dial with minutes, hours, seconds, perpetual calendar with outsize date, day-of-week, month and leap-year display, power-reserve indicator, orbital moon-phase display with day/ night indication on the movement side. 14 days power reserve. Hand-wound movement. ø 45.5 mm.

ROYAL OAK CONCEPT GMT TOURBILLON Hours, minutes, tourbillon, 24-hour GMT, day/night indication, function selection. Hand-wound movement. Ă¸ 44 mm

CLIFTON 1892 FLYING TOURBILLON Small seconds at 6 o’clock, flying tourbillon at 9 o’clock. 18K red gold case. Mechanical hand-wound movement. ø 45.5 mm

RECITAL 12 “MONSIEUR DIMIER” Hours, minutes, small seconds, power-reserve indicator (7 days). Hand-wound in-house movement. ø 42 mm

TANK LOUIS CARTIER SAPPHIRE SKELETON Case in 18K white gold, 30 x 39.2 mm. Manufacture mechanical movement with manual winding, calibre 9616 MC.

J12 MOONPHASE Hours, minutes, seconds, date by hand, moon phases. Self-winding movement. Ă¸ 38 mm.

L.U.C TOURBILLON QF FAIRMINED Hours, minutes, small seconds on the tourbillon, power-reserve indicator. 18K Fairmined rose gold. Hand-wound movement, chronometer-certified by the COSC and certified by the Fleurier Quality Foundation. Ă¸ 43 mm.

MARGOT Hours, minutes, “He loves me... he loves me not” game, coloured gemstones symbolising sentiments on the oscillating weight. Self-winding movement. ø 42.5 mm.

DB28 DIGITALE Jumping hours in an aperture, analogue minutes on a silver rotating disc in an aperture. De Bethune star-studded sky with spherical moon phases in the centre. Titanium mirror polish case, floating lugs. Hand-wound movement. Ă¸ 43 mm.

TRI-AXIAL TOURBILLON Hours, minutes, tri-axial tourbillon, power-reserve indicator. Hand-wound movement. Ă¸ 48 mm.

TOURBILLON 24 SECONDES DIAMOND CONTEMPORAIN 24-second tourbillon, power-reserve indicator, hour and minute display, small second display, 24-second tourbillon rotation indicator. Hand-wound movement. Ă¸ 43.5 mm.

HARRY WINSTON MIDNIGHT DIAMOND SECOND 39 mm Off-centred hours and minutes, small seconds. Self-winding movement. Ă¸ 39 mm.

ARCEAU MILLEFIORI 41 mm BLUE Hours, minutes. Self-winding movement. Ă¸ 41 mm.

AQUATIMER PERPETUAL CALENDAR DIGITAL DATE-MONTH Hours, minutes, small hacking seconds, perpetual calendar with jumping mechanism, large date and month in apertures, leap year display, flyback chronograph with hour and minute counters combined in a totalizer at 12 oâ&#x20AC;&#x2122;clock, centre seconds. Self-winding movement. Ă¸ 49 mm.

MASTER GRANDE TRADITION À QUANTIEME PERPETUEL 8 JOURS SQ Hours, minutes, perpetual calendar, moon phases, day/night indicator, 8-day power reserve. Hand-wound skeleton movement. ø 42 mm.

ESCALE WORLDTIME World time on concentric discs. Hand-painted dial. Self-winding movement. Ă¸ 41 mm.

MEISTERSTÜCK HERITAGE PERPETUAL CALENDAR Hours, minutes, perpetual calendar with date at 3 o’clock, day at 9 o’clock and month at 12 o’clock, by hand. The leap-year cycle is shown by an arrow inside the month display. The age and phases of the moon are indicated at 6 o’clock. Mechanical movement with automatic winding mechanism. ø 39 mm.

LUMINOR 1950 LEFT-HANDED 3 DAYS – 47 mm Hours, minutes. Hand-wound movement. ø 47 mm.

TONDA METROPOLITAINE Hours, minutes, small seconds, date in an aperture. Mother-of-pearl dial. Self-winding movement. Ă¸ 34 mm.

PIAGET ALTIPLANO 900P The world’s thinnest hand-wound mechanical watch (height: 3.65 mm). 18K pink gold case. Slate grey alligator leather strap. ø 38 mm.

867 DIAMOND WITH FULL-PAVE DIAMOND BRACELET Hours, minutes. Mechanical manual-winding movement. 27.5 x 27.5 mm.

RM 07-01 LADIES Hours, minutes. Skeletonised automatic movement. 45.7 x 31.4 mm.

HOMMAGE TOURBILLON VOLANT TRIBUTE TO MR ROGER DUBUIS Hours, minutes, large instantaneous date, power-reserve indicator, flying tourbillon. Hand-wound movement. Ă¸ 45 mm.

MONACO V4 TOURBILLON Hours, minutes, small seconds at 6 oâ&#x20AC;&#x2122;clock on the second wheel, belt-driven one-minute tourbillon. Linear self-winding movement. 41 x 41 mm.

TRADITIONNELLE WORLD TIME COLLECTION EXCELLENCE PLATINE Hours, minutes, centre seconds, world time indication with day/night zone (37 time zones). Self-winding movement. Poinçon de Genève certified timepiece. ø 42.5 mm.

MIDNIGHT PLANÉTARIUM, POETIC COMPLICATIONS™ Hours, minutes, day, month, year, representation in real time of the movement of six planets around the sun, “lucky day” function. Self-winding movement. ø 44 mm.

The quality of a performance naturally depends not only on the choice of performers, but on the spirit that pervades them. Hector Berlioz

TRENDS

Auctions have played a leading role in the revival of the mechanical watch. To such an extent that they now constitute a world of their own. But is this world, like Swiss watchmaking itself, under threat from an onslaught of smartwatches, with Apple Watch leading the charge? Smartwatch, Swiss Watch: Twoâ&#x20AC;&#x2122;s Company? gives insight into two worlds whose paths may one day cross, even if the threat is, for the time being, largely hypothetical. Ultimately, the last word will go to digital natives. Promoted to meta-consumers, they are experiencing as they happen the transformations sweeping our world, where science and technology now shape the future of humanity for us.

THE COMPLEX FUTURE TEXT: VIRGINIE RAISSON

No matter how we approach it, the question of “young people in the future” cannot be answered without first knowing what the world will be made of in the coming decades. Over the past twenty years, changing eras and civilisations have reshuffled just about every card in the deck to make this an all the more complex equation. Furthermore, our decisions concerning the economy, politics and technology continue to eat into the capital we will leave these generations, transform their environment, and in doing so rewrite the DNA of their future; thus we need to reconsider the entire set of values, models and certitudes that developed over the course of the twentieth century and which, as they fall gradually into obsolescence, will reveal our projections and concerns as being equally obsolete.

hether foresight analyst, parent or

the brain, and even digitise and download its content. In a

marketing

only

word, while human activity and consumption are causing

consider the question of youth and

the planet and its ecosystems to deteriorate at an even

its future by deconstructing our own

faster rate, cloning techniques and neuroscience will soon

worldview so as to see afresh the present, as this is where

enable Man to make copies of human beings with enhanced

the future is composed. Yet the signals strong and weak

intelligence. Eugenics, culturally taboo in western societies

that we receive from a world in transformation are blurred,

since the Second World War, immediately springs to

to say the least. Globalisation and new technologies have

mind. And yet pre-implantation genetic diagnosis (embryo

diverted the course of history in directions so uncertain we

screening) is a derivative – albeit well-intentioned – that very

struggle to assemble them into a common scenario.

much engages the future of humankind. What scenario

Destruction of the biosphere heralds global chaos between

can we offer youth that can bridge the schizophrenic gap

now and the end of the century, with its attendant shortages,

between ecological inevitability and the prevailing scientism?

pollution and conflict; meanwhile, advocates of bio-

Where should we set the limits of precaution when neither

nanotechnologies promise a new order of transhumanism

hindsight, epistemology nor statistics allow us to measure

whereby progress in artificial intelligence will enhance the

the risks inherent to manipulation of living matter, continued

human species. Even now, the aim is no longer to produce

research into nuclear fission, or the belief that humans can

replacement hearts or kidneys; the new objective is to repair

withstand an average rise in temperature of 2 to 4°C?

manager,

can

Can we spare future generations from the burden of

to come? Traditionally, we entrust our elders, shamans or

irremediable damage when the demands of competitiveness

judges with the responsibility of protecting Man from his

go beyond any form of moral consideration? How can we

baser instincts or demiurgic desires.

protect them from the temptations of some “final solution” at

This role can also fall to national ethical committees, when

a time when genetic factors and other race-related criteria

such a body exists, with the risk that their rulings are

are returning to the political arena, or when Malthusian

already out of synch with current practices, as is the case in

thinking is gaining currency in the light of environmentalist

Europe with euthanasia, the use of embryos and stem cells,

movements? Knowing how few taboos are shared across

gestational surrogacy, etc.

every civilisation, can we rely on the wisdom of others to

Social media in turn allows anyone and everyone to voice

defend our descendants’ best interests? Conversely, how

their opinion on important issues. This fuels the trend for

can we prevent scientific research and social innovation from

democratic populism which, in the political world, means

being hampered by the reactionary obscurantism which,

latching on to the prevailing mood as a springboard for

kindled by fear and crisis, is resurfacing in society under the

personal ambition. The shrinking world and permeable

pretext of moral precepts and religious values? How can

borders have rewritten deontological ethics as research

we prevent the precautionary principle and resistance to

centres adapt their geography to local regulations and

change from pre-empting young people’s future, because

beliefs, even when this goes against international treaties

preceding generations refuse to relinquish even the smallest

or disregards the risks incurred by neighbouring and future

right? As today’s communication and consumption society

populations.

redefines the role played by national and local government,

One could easily imagine that the flexible, pragmatic nature

the family, the individual, religious orders and education,

of Buddhism and Taoism might more readily accommodate

what means or measures can we use to reasonably draw

certain genetic manipulations than do Europe’s legal

the line between individual desires and the interests of the

frameworks, particularly as Asia is more intent than any other

community, without undermining the interests of generations

part of the world on putting western science in its place. Asia

sees the future as opportunities to be seized, however high

campaigning? How can humankind’s highest common good

the price to be paid in terms of risk, and this attitude has yet

prevail when spending on research transforms investors into

to be curbed by insurance companies. It should therefore

lobbyists, or when questions are examined from the narrow

come as no surprise that the most extreme developments

perspective of national or community interests? How can we

in science, biology and technology are being implemented

hope to safeguard young people’s heritage when they are

somewhere between China and Korea, possibly creating

neither consulted nor represented in matters that concern

irreversible precedents for future generations in the process.

them, and when decisions are made by generations that will never be held accountable? Lastly, which direction should

A UNIVERSAL ETHIC

progress take if it is to serve not just the present but the best

In the light of such a complex reality, ways in which we can hand

of all possible futures?

over a sustainable future may appear limited. International assemblies of enlightened citizens could be one solution.

SCHIZOPHRENIC PROGRESS

Comprising a sample of individuals of all ages – appointed

Since the nineteenth century, progress has been driven

by chance rather than elected – whose social, ethnic, cultural

by men’s desire to master their environment and surpass

and economic background would be representative of the

its limits, and associated exclusively with advances in

world population, they would meet on an ad hoc basis to rule

technology and science. Indeed, it now appears that there

on a single, given matter, meaning lobbies would not be able

is no match for human intelligence, be it the information

to influence their decision. Each assembly would convene

encoded in living organisms, the origins of the universe or

over several days to share information, expertise and

the secrets of matter. Similarly, there is nothing to prevent

exchange contrasting points of view, following which it would

young people from believing that their children will live for

issue an opinion, equivalent to a global ethical resolution,

ever, that they will be able to fly or even go back in time,

based on the collective intelligence required in complex

as everything history has left them in the way of big data

decision-making contexts. Of course, reluctance to reform

(archives, artworks, maps, codes, reports, substances,

the UN suggests that assemblies such as these are unlikely

composition of materials, structures, etc.) is digitised and

to see daylight. They nonetheless underline weaknesses in

processed. Poised on the threshold of his wildest dreams,

certain democratic practices that slow the transition to future

Man will soon be master of his condition… Or not, for there

generations. How, indeed, can we pass the baton when

is one limitation he is unlikely to overcome, and that is the

our elected representatives, in order to win votes, sacrifice

finite nature of the biosphere on which he depends for food,

long-term reform to instead focus on short-term electoral

but also to produce and operate technology.

It seems there is no match for human intelligence, be it the information encoded in living organisms, the origins of the universe or the secrets of matter.

ÂŠ LĂŠpac - Les Futurs du Monde

That progress circumvents the need for a particular scarce

“prosuming”. Constantly tuned in to the rest of the world,

resource makes little difference as most of the time it

they can multiply themselves at will, a gift once reserved

replaces one form of dependency with another.

for the gods and a handful of superheroes. Under cover of

Think of the energy consumed by data centres that store

avatars and screen names, they have moved the boundaries

information sent by mobile phones and other connected

of private life, and are more likely to confide in strangers

devices: by 2020, their CO2 emissions will equal those of

online than their parents.

all the world’s air traffic combined! Even if wind and solar

The best things in their networked lives are free. Meanwhile,

power can free progress from the grip of fossil fuels, and

they leave it to Californian server farms and their algorithms

therefore Russian and Saudi ambitions, new technologies

to preselect their information, shape their cultural likes and

will play us into Chinese hands, for China continues to

dislikes, and help them make social decisions. In doing

account for almost 90% of global production of rare earth

so, like their parents did with biomedicine, they trade

elements, including neodymium used in the photovoltaic,

developments in health and education made possible by

wind and thermal energy sectors.

information and communications technology for their own

Paradoxically, by using technology to break through the

cybernetic reification.

limits of his environment, Man has mortgaged his future to

Convinced that the internet has put them at the centre of the

non-renewable, unevenly distributed resources.

world, they unwittingly consent to a life under surveillance. Their past and future become the property of Apple,

CONNECTED YOUTH

Google and Amazon, which use covert tracking techniques

A day in the life of a digital native gives the full measure of this

to virtually reconstitute their every move and transform

dependency. To begin with, which foresight analyst could

individuals into meta-consumers.

have calculated that a mobile device the size of a packet

We have reached a breaking point in history where, fuelled

of cigarettes would prove to be a bigger watershed than

by our appetite for well-being, science and technology - not

the fall of the Berlin Wall? Who would have imagined that in

us - decide where the future is heading. And so it would

less than twenty years, this one tool would play the role of

seem there can be no sustainable future unless we are able

banker, postman, photographer, doctor, teacher, translator,

to reconnect with sobriety, philosophy and ethics. The one

stockbroker and travel agent all in one day? And that it

thing young people’s future shows us is that henceforth,

would become more commonplace than the toothbrush,

progress is first and foremost about fixing its limits and

connecting three out of four Africans to a mobile network

direction.

in ten years when only a third have access to electricity? As the last century drew to a close, and the end of the Cold War catapulted the world into identity crisis, who would have thought that one short decade later, the internet, Facebook and YouTube would have built a common foundation for a third of humanity? While parents are still trying to decipher their children’s behaviour, under-twenties are throwing themselves heart and soul into the global race for narcissistic happiness, or busying themselves with global solidarity and humanitarian campaigns. Hooked on texting, Weibo, Twitter and hits, they get most of their information from the countless blogs they follow. They exercise their critical faculties on forums or by

ANY MORE BIDS? TEXT: AUREL BACS PHOTO: SILVIA BADALOTTI

Consult the catalogue, request photos, go to previews, calculate buyer’s premium and shipping costs, stay within your budget... Everything you ever wanted to know about buying watches at auction but never dared ask.

ppreciating and collecting fine watches,

for other things in life, instead of having to advertise the

contemporary or vintage, has become a

watch himself and deal with potential buyers from different

wonderful hobby for many across the planet.

parts of the world.

So many senses are satisfied by this still

But how does one, as an interested buyer, go to an auction

relatively young collecting field, as it beautifully unites

and make the best choices? How does one really end

engineering, design, craftsmanship and history to name

up with the right watch at the right price – without any

only a few. It is absolutely normal that from time to time,

unwanted surprises?

collectors should part with a fine watch in their collection,

First, one should read the auction catalogue. And when

be it because their taste changes, be it to raise the

I say “read”, I mean “read”, not just flipping through it

necessary means for a next acquisition or simply because

and admiring the beautiful images. Auction catalogues

their vaults cannot provide sufficient space for an ever-

are normally published 3 to 5 weeks before the auction,

growing collection.

allowing potential bidders sufficient time to prepare

But where do they sell their watches? Certainly, many

themselves for the day of the auction. Personally, I would

collectors share their passion with friends and so it is

always advise collectors to subscribe to the paper version

very convenient to trade amongst peers. Many, however,

of the catalogues, as they develop, year after year, into a

are taking advantage of the ever-increasing number of

wonderful encyclopedia.

international auction houses, active around the globe, to sell

Specialists at the auction houses spare neither effort nor

their watches for which they have no longer use. Auction

expense to explain the watch, its historical context, publish

houses offer collectors many advantages when it comes to

the exact dimensions, its provenance and what comes with

selling a fine timepiece: owners can consign often locally,

the watch (such as original certificate, bill of sale, original

at their hometown, as auction houses have representatives

box etc.).

in most of the major cities around the planet. Furthermore,

Should you find the information insufficient, do not hesitate

their vast client base ensures that the watch is sold at the

to contact the specialists in charge and ask them to shed

highest possible price. Lastly, the handling and processing

further light on the watch, asking them specific questions.

is smooth and discreet, leaving the seller with ample time

You may request further images such as close-ups of

Auction houses offer collectors many advantages when it comes to selling a fine timepiece: owners can consign often locally, at their hometown, as auction houses have representatives in most of the major cities around the planet.

hallmarks or dials, allowing you to make a fairly good

Nearer to the sale, auction houses host private or public

assessment of the watch. A very important element is, of

viewings, allowing potential bidders to personally examine

course, the condition of the watch that often cannot be

the pieces on offer. This is a key moment for every collector

determined by simply looking at the image in the catalogue.

as it allows him (or her!) to personally examine the watch.

In order to help bidders who cannot attend the public

This is not only a good opportunity to try a watch on to

auction preview, auction houses establish for each lot a

see if it actually fits you, but also to examine the watch

condition report, listing all the flaws and imperfections they

yourself. Do bring a loupe with you, and use it to study the

can spot upon a close-up inspection.

watch in detail and confirm “with your own eyes” that the

Do however note that the condition report is a service

condition report is accurate. Don’t forget to take notes so

offered free of charge but does not form part of the

as not to forget any important thoughts that spring to mind

contractual understanding between the buyer and auction

during the viewing. It wouldn’t be unusual for a passionate

house. But more about that later!

collector to forget certain details about a watch after having

With all this information in hand, you can already filter out the

examined several, sometimes even dozens of pieces. This

watches which are probably not suitable for your collection

is also the moment to ask to be shown the accessories that

but also start making research with collector friends, on the

come with the watch, especially certificates, spare links for

web, in your own library and with local dealers with regards

a metal bracelet and the original bills of sale.

to the current market value for such a piece.

If your schedule allows, don’t be afraid to go a second

This is an important step as auction estimates may often be

time to the preview since, as with so many other important

on the conservative side and create false hopes. Auction

decisions in life, one needs to sleep on it before going

houses tend to publish conservative estimates in order to

ahead. Also, as it is a very personal choice, one tends to

attract interest from potential bidders, a strategy that is

see the same watch differently, pending the daylight, mood

absolutely appropriate as well as successful, as their job

and surroundings. Also, it is important to know that “all

is to create excitement around their auctions. Many times,

watches are sold as is.” This means that, whereas auction

however, collectors register for a certain piece, hoping to

houses do guarantee the authenticity of each piece, there

acquire it at the published estimate to then find out that

is no guarantee with regards to its condition or proper

there are many more bidders, not leaving them a chance

functioning. After all, the watches on offer are pre-owned

to bring home their targeted lot.

and, naturally, auction houses aren’t in the position to

offer the same guarantee as manufacturers producing the

This allows you to then walk straight into the auction room

watch themselves. Thankfully, many auction houses have a

without the hassle of filling out forms. Certainly, if you are

certified watchmaker on-site who can also give you an idea

interested in, let’s say, lot 120, there is no need to be in the

as to whether the watch needs to be serviced and what an

auction room for the first lot. Traditionally, auctioneers are

expected cost for such a service might be.

selling at a rather quick pace, mostly between 50 and 70

The last and important step for a well-prepared bidder is

lots per hour. So, if you have your eye on lot 120, arriving

to make a list (in case there is more than one targeted

in the saleroom an hour and a half after the start of the

candidate in the auction) and a budget. Unless you have

auction is early enough.

unlimited funds available (which I sincerely hope but is

In case you can’t make it to the auction and participate

seldom the case, even with the wealthiest collectors), do

yourself with a paddle in hand, there are several other

make a list of priorities. This will avoid the dramatic situation

ways to bid. Up to 24 hours prior to the auction, you can

whereby your favourite watch comes on the block and

suddenly you realise you already spent your funds buying

of the auction house will ring you on the number of your

earlier lots in the same auction. Sometimes one needs to

choice. Simply make sure you are available at the time of

let go a watch in order to be well-armed with “sufficient

the auction, specifically at the precise moment when your

quantities of gun-powder” for one favourite piece.

chosen lot is being offered.

Before registering for the auction, do enquire about the

Bidding is easy, and really not that different to what it

buyer’s premium. This is the commission any successful

would be were you in the room in person. Another way

bidder pays to the auction house on top of the hammer

to bid is online, in which case you need to log on to the

price. Furthermore, it is important to understand if there are

auction house’s website and bid by simply clicking with

any local taxes to be paid. This information is printed in the

your mouse. Needless to say, whether bidding by telephone

back of the catalogue. In case you would like to have your

or online, you still need to stay focused and remember your

purchase shipped to your home country, do also consider

budget. It is rather easy to get caught in a bidding battle

the cost of the shipment but also local taxes and duties at

against other collectors and the infamous “just one more

the country of final destination. With the above information

bid?” could suddenly make you forget your well-prepared

in hand, you can now “calculate backwards” how far you

budget. Apart from applying a fair amount of discipline, the

would like to bid (up to what hammer price) in order not to

only other way to avoid overpaying is to leave an absentee

exceed your budget, commission and taxes included.

bid. In this instance you fill in a form leaving your top bid

When it comes to shipping, do also consider CITES (the

with the auction house. The auctioneer will then execute

Convention on International Trade in Endangered Species

your bid in the same way as if you were in the room,

of Wild Fauna and Flora). Watches with leather straps

meaning that he will go only as high as necessary in order

made from endangered species (crocodile, other reptiles,

to outbid any other bidders. But then again, you may miss

etc.) cannot be shipped unless accompanied by a CITES

out on your favourite watch by only one bid…

certificate. Auction houses consequently remove such

If all goes well, and thanks to your careful preparation, you

materials before shipping watches.

should stand a good chance of being competitive and be

Now comes the big day, the day of the auction. Do allow

satisfied with the outcome, minus any unwanted surprises,

sufficient time to reach the saleroom: it would be a great

whether you are the successful buyer or not. All that

shame to miss your favourite piece after weeks of focused

remains is for me to wish you great fun at your next watch

preparation. Also, there might be queues to be expected at

auction (which it is, I can assure you!) and best of luck!

the paddle registration desk. Ideally, have your client card ready or, even better, pre-register during the preview days.

SMARTWATCH, SWISS WATCH: TWO’S COMPANY? TEXT: RAPHAËL LY ILLUSTRATIONS: MIX & REMIX

From Jonathan Ive to Jean-Claude Biver – the former sounding the death knoll of Swiss watchmaking, the latter labelling the Apple Watch as having zero sex appeal and looking like it was designed by students – the subject has inspired some heated debate.

et each point of view warrants no more

are forecast to account for 40% of this segment before

consideration than a troll in a discussion

2016 (1), the fact remains that Switzerland manufactures

thread. Because at the end of the day,

just 2.5% of the 1.2 billion finished watches produced

the one and only common denominator

worldwide yet accounts for 95% of watches priced above

is an object worn on the wrist. Different in nature, use,

CHF 1,000(2). Given that connected watches are currently

utility, emotional value and even individual perception

positioned below that point again suggests, in theory at

of these objects within our social environment, there is

least, that the two worlds donâ&#x20AC;&#x2122;t overlap any more than that.

ultimately little grounds for comparison. One originates in

Itâ&#x20AC;&#x2122;s all a question of interpretation. The debate as it stands

a traditional industry, reflects a continuity and the magic

is ultimately fuelled solely by interpretations of information

inherent to craftsmanship, and points to a mechanical

coloured by personal convictions.

savoir-faire in contradiction with the contemporary era,

Smartwatches in some way raise the question of connected

making it an object that can become a lasting part of our

objects in our personal and social environment. In doing so

individual story. The other is part of a trend and by dint

they introduce something new and therefore incompletely

of this, independently of planned obsolescence, set in the

formed. Hence intimidating. While certain readers will be too

moment. Its use more closely resembles connected utility,

young to remember the popularisation of mobile phones,

a phenomenon of fashion and technology that has its own

others will surely recall hearing opponents of this new

emotional charge. Disposable and interchangeable.

technology warn them of the dangers of being reachable

Figures also add to the confusion. While wrist wearables

round-the-clock. Similarly, many of us back then were

will clearly take off, to the extent that connected watches

convinced no-one would ever risk leaving their bank card

details online. We are in a way reproducing the same fears

new adventure must first make the leap from being a brand

with connected watches as we did with mobile phones and

that produces goods then waits for results to a brand that

retail websites in their day. We’re afraid of them. Afraid of

listens. Until now, and despite a difficult transitional period,

waves, of data acquisition, of their potential to modify social

the fine watch industry has benefited from a shift in our

relations and their impact on the industrial and hand-crafted

perception of time, from utility to craft. However, this came

production of classic watches. Beyond industrial cleavage,

about independently of watchmakers’ will, and the change

this is also where the debate surrounding the connected

that is taking place today cannot simply be ignored. The

watch lies. It’s hard to bet on tools that aren’t immediately

real challenge should lie in brands’ capacity to review their

available.

creative process and again equip the wrists of a category

While connected watches aren’t yet properly operational

of the population that had given up on classic watches: the

(insufficient battery life, limited applications), there is a

under-30s. How wonderful to take up the gauntlet and win

strong chance that what might today be considered a

the hearts of the future wearers of a fine watch! It remains

gadget will quickly take on considerable importance. The

to be seen whether watchmaking’s leading names will make

question fine watch brands should be asking, assuming

their move or if they will leave it to the technology industry

they wish to follow connected watches’ lead, is how

alone to respond to a nascent demand.

they want to relate to their customers. Who have grown accustomed to being treated with care and attention.

(1) Gartner, September 2014 (2) Federation of the Swiss Watch Industry, 2013

Watch brands that want to give themselves a chance in this

WHO WEARS THE CROWN? TEXT: CHRISTOPHE ROULET PHOTOS: SI LVI A BADALOTTI

Apple is the latest name to enter the connected watch market, and probably the one that poses the biggest threat to Swiss watchmaking. Or so the Cupertino-based firm likes to think. Swiss watchmakers aren’t too concerned…

mpty threats aren’t the type to send tremors

eyes; the Apple Watch contents itself with Mickey Mouse

through Switzerland’s horological circles.

dancing around on a touchscreen. The same analysis finds

Particularly when they involve electronics

an echo with Vacheron Constantin: these are not the same

giant Apple claiming to teach Swiss brands

things. Apart from a time-telling function, a magnificently

a lesson or two with its new connected watch.

crafted mechanical watch and a connected watch are

The Californian firm even predicts a tidal wave that will shake

horologically poles apart.

this venerable industry to the core. Glib words and not the

It’s an easy comparison to wave the spectre of the quartz

most tasteful way to promote a product. Still, an industry that

crisis, which in the late 1970s had fatal consequences

sets the standard worldwide had to be a ready-made target

on a Swiss watch industry that was quick to dismiss the

for this hypothetical battle. Not that anyone is fooled: when

electronic watch. Is history repeating itself?

it comes to watches, Apple will never be any match for its

Interviewed by Swissinfo, Elmar Mock, one of the fathers

Swiss “rivals”. And for one good reason: we’re looking at two

of the Swatch, doesn’t beat about the bush: “Swiss

completely different things.

watchmaking has transformed brass into gold by creating a mechanical gem that symbolises effort and ingenuity. It has

A MARKET FOR THE TAKING

done a fabulous job in design, marketing and communication

This is precisely the opinion of the brand CEOs who were in

too. The Kalashnikov rifle didn’t mark the end of the samurai

Hong Kong for the Watches&Wonders fine watch exhibition

sword any more than the connected watch will kill off the

at end September 2014. Richard Mille, for example, declared

mechanical watch.”

that he would definitely be buying an Apple Watch, if only to

Mock nonetheless regrets Swiss watchmakers’ lack of

see how it performed. Did he see it as a competitor for his

interest in the connected watch market which, assuming a

own timepieces? His guffaws drowned out any answer. Van

realistic figure of 100 million smartwatch sales a year, could

Cleef & Arpels, on its booth, placed the emphasis on the

be worth some US$30 billion: more than the entire Swiss

artistic crafts that make its watches so unique in customers’

watch sector.

NOTHING TO ENVY

years, have seen an increase in digital devices that give the

Naturally, all eyes are on Swatch Group which, according

time, all this without losing any of their relevance or value.

to analysts, has most at stake with a portfolio of brands

On the contrary. A product such as the Oyster Perpetual

that includes Tissot, Swatch, Certina and Hamilton. Chief

Submariner has never been more successful than since

Executive Nick Hayek is unfazed. “Having new functions

divers have been strapping computers to their wrist.” Q.E.D.

added to the watch will help us convince even more people

In this context, one wonders whether Apple hasn’t missed

to wear something on their wrist,” he explained to Swiss

its target and should be honing in on its direct rivals, mainly

weekly L’Hebdo. “That’s where the real challenge lies: there

from Korea or Japan, or on the low-end watches that China

is still a lot of wrist real estate to fill.” Swatch Group certainly

produces by the billion. Indeed, price ranks as an important

feels no inferiority complex opposite a line-up that includes

attribute of the smartwatch’s appeal.

giants such as Samsung, LG, Motorola and Apple, declared

A report by Citigroup reveals that 40% of smartwatch

Hayek, whose company can legitimately claim to be at the

owners in the United States purchased theirs because, after

vanguard of technology for touchscreens, batteries, and

the smartphone, it came at a price they could afford. Could

low-consumption gyro sensors. It’s worth remembering that

the same be said of a high-end mechanical watch?

Swatch The Beat, Swatch Paparazzi and Swatch Access

Glossing over important features such as battery life and

each opened up new possibilities in connectivity with, it

water-resistance which Apple, for the moment, declines to

must be said, varying fortunes. Hence the understandable

address, there can be no denying that this “watch that isn’t

question mark when faced with products which, for

a watch” has the whole future ahead.

the moment, make zero sense unless combined with a

This won’t, however, be to the detriment of the fine mechanical

smartphone. Rolex delivers its timely reminder in Swiss

timepieces we wear for the service they provide, of course,

magazine Bilan: “Rolex watches witnessed the arrival of the

but most of all for the tiny thrill we experience each time we

first quartz watches in the 1960s and, over the past few

hear that ticking heart. Just to let the Apple fans know.

Swiss watchmaking has transformed brass into gold by creating a mechanical gem that symbolises effort and ingenuity. It has done a fabulous job in design, marketing and communication.

CONTRIBUTORS TEXTS JACQUES ATTALI A doctor in economics, author, honorary member of the French council of state, special advisor to the French President between 1981 and 1991, founder and first president of the European Bank for Reconstruction and Development, in London, between 1991 and 1993, Jacques Attali is now chief executive of A&A, an international strategy consultancy based in Paris, and president of PlaNet Finance, a non-profit organisation and the largest global institution to promote microfinancing around the world. His 67 books have been translated into more than thirty languages and have sold more than ten million copies worldwide. He has been named one of France’s three most influential intellectuals and one of the top hundred public intellectuals in the world. He is the fourth most followed economist on Twitter, after Paul Krugman, Nouriel Roubini and Umair Haque.

author of exhibition catalogues, and of the authoritative reference work, The Mastery of Time. MICHEL JEANNOT Michel Jeannot heads the Bureau d’Information et de Presse Horlogère (BIPH) in Switzerland, a team of journalists working with some fifteen media worldwide. His confident and at times caustic style is equally at home with technical subjects as writing about the challenges facing the sector and its economy. He is founder and editor-in-chief of Montres Le Guide (205,000 circulation) and of the WtheJournal.com multimedia platforms. His articles can be read in Bilan, Le Figaro, Huffington Post and HH Magazine online. SEAN LI Sean Li has always been fascinated by timekeeping, and was truly drawn into its inner workings when he took a close look at a perpetual calendar for the first time. Working in information technology until 2009, his career changed significantly when he took on the editorial director’s role at Revolution magazine in Hong Kong. In addition to Revolution Hong Kong, Sean oversees watch content for Tatler in Asia, and has been a member of the jury for the Grand Prix d’Horlogerie de Genève since 2012.

AUREL BACS Aurel Bacs is an internationally acclaimed specialist in collectible watches. As an auctioneer, since 1995 he has officiated at several auction houses, most recently at Christie’s as international head of watches, during which time he significantly developed sales. Co-founder of watch consultancy firm Bacs & Russo SA, Aurel Bacs is now an independent advisor to collectors, manufactures and museums on collectible fine watches, and an exclusive consultant for Phillips watch department.

RAPHAËL LY Having honed his skills with some of the leading advertising agencies in France and China, Raphaël Ly moved to Virtua where he devised digital strategies for major brands, many of them watchmakers. This gave him his first opportunity to work with the Fondation de la Haute Horlogerie, on its repositioning and new digital communication. After two and a half years accompanying the FHH this way, he joined the Foundation as digital communications manager.

ALBERTO CAVALLI Alberto Cavalli is managing director of the Fondazione Cologni dei Mestieri d’Arte, a private, non-profit institution for the promotion and preservation of fine craftsmanship. He is a professor at Milan Politecnico school of design, as well as a visiting professor at the Creative Academy, where he leads seminars dedicated to the applied arts. He is a correspondent for the Russian magazine Kak Potratit and contributes to the Centre du Luxe et de la Création in Paris.

VIRGINIE RAISSON An international relations analyst, Virginie Raisson runs Lépac, an independent geopolitical and foresight studies think tank. Holding degrees in history, international relations and geopolitics, she is the author of numerous articles, coauthor with Jean-Christophe Victor of the Atlas du Dessous des Cartes series, and in 2010 published the first foresight atlas: 2033, Atlas des Futurs du Monde. She is a regular speaker at seminars for diplomats, international business leaders and stakeholders in the public sector.

DOMINIQUE FLÉCHON Dominique Fléchon joined the Richemont Group in 1994 as a historian and specialist in antiquarian horology. In 2006 he became content editor for the Fondation de la Haute Horlogerie. He has curated numerous exhibitions as part of major watch fairs. Dominique is highly regarded as the

illustration awards. His work has also been selected by the American Illustration Annual and recently won the Gold Medal Award in Creative Quarterly’s #15 contest, as well as Awards of Excellence from Communication Arts. Carlo lives and works in Berlin.

CHRISTOPHE ROULET After graduating in philosophy from Geneva University, Christophe Roulet embarked on a career in economic and financial journalism with various French-speaking Swiss newspapers. He was later appointed editor-in-chief of the Swiss financial daily L’Agefi. This marked the beginning of his passion for watchmaking and beautiful timepieces. He is now editor-in-chief of the online HH Magazine. COSTANZA UTRECHT-STEIN A journalist, writer and sociologist, Costanza Utrecht-Stein worked for a long time in the United States and Switzerland for the RCS (Rizzoli Corriere della Sera) MediaGroup. She is the author of several books on fine craftsmanship. She writes for CartierArt, the magazine of Maison Cartier, and for the Jaeger-LeCoultre Yearbook. She is also involved in international publishing projects. Costanza is currently engaged in a sociological study of the world of luxury.

PHOTOS SILVIA BADALOTTI Silvia Badalotti’s unique photography reflects the research she pours into each image, which gives her work its undeniable artistic value. Since 1992 she has contributed to leading Italian and international magazines, including Vanity Fair, Wired, Riders, Class, Elle, Vogue Japan, Russian Vogue and CartierArt. She also develops advertising campaigns for major agencies, among them JWT, McCann Erickson Worldwide, Ogilvy and Publicis, and for Italian brands including Prada, Tod’s, Gucci, Roberto Cavalli, San Pellegrino and Bulgari.

ILLUSTRATIONS MIX & REMIX Mix & Remix, the pen name of Philippe Becquelin, was born in Switzerland on April 6th 1958. He began his career in 1984, the same year he obtained his diploma in art. His cartoons are published in the Swiss news magazine Le Matin Dimanche. He also draws live on television. Mix & Remix was part of the original team of the French satirical newspaper Siné Hebdo. His cartoons are published in France in Courrier International, Lire, L’Express and Clés, and in L’Internazionale in Italy.

CLAUDE JORAY Swiss photographer Claude Joray is passionate about craftsmanship and complications in watchmaking. Each of his photographs sets out to capture a moment in the watch’s existence. The emotion which the watchmaker has patiently instilled in the timepiece he has created is conveyed to us, in all its intensity, through the camera’s eye. Claude Joray forges an intimacy between the watch and the beholder of the photo. He draws us into a mysterious world, revealing this mechanical beauty from every angle and in all its splendour.

CARLO STANGA Born in Italy, the author of our covers has always been passionate about drawing. After graduating in architecture from the Politecnico in Milan, he further developed his skills by studying art and design. A collaboration with influential Italian designer Bruno Munari helped shape Carlo’s way of seeing the world. As an editorial and advertising illustrator, Carlo works with major Italian magazines and newspapers such as La Repubblica, Il Sole 24ore and RCS, and with international clients in Europe and the United States including UNESCO, Mapei, Board International, Brioni, NCTM, Missoni, Poliform, Club Med, and MTA New York. His distinctive style has won him a succession of Italian

ROBERT & SHANA PARKEHARRISON Robert and Shana ParkeHarrison create a genre that is unique in the world of photography, constructing fantasies in the guise of environmental performances. Their work is exhibited worldwide and can also be found in prestigious collections.

MAG Conception and Direction

FRANCO COLOGNI Editorial Management

LARA LO CALZO Art Direction

FERDINANDO MARZOTTO Editorial Board

CLAUDIO CASTELLACCI . FRANCESCA DONELLI GRÉGORY GARDINETTI JULIEN PFISTER . IVANA RADICA Texts

JACQUES ATTALI . AUREL BACS . DOMINIQUE FLÉCHON MICHEL JEANNOT . SEAN LI . RAPHAËL LY VIRGINIE RAISSON . CHRISTOPHE ROULET COSTANZA UTRECHT-STEIN Photos and Illustrations

SILVIA BADALOTTI . CLAUDE JORAY ROBERT & SHANA PARKEHARRISON MIX & REMIX . CARLO STANGA Photo Agencies and Archives

BRIDGEMAN IMAGES / ARCHIVI ALINARI (P. 11) JOSEPH HOFLEHNER / GALLERY STOCK (P. 48) JUSTIN LEWIS / GETTY IMAGES (P. 58) POINT OF VIEWS (P. 41, 42) . TIMELAB (P. 28, 30, 31) TUOMAS KUJANSUU / GETTY IMAGES (P. 60) English and French texts adapted by

SANDRA PETCH . MICHÈLE SALVAT Publisher

MESTIERI D’ARTE SRL VIA LOVANIO 5 - 20121 MILAN, ITALY Technical Coordination, Prepress and Printing

GRAFICHE ANTIGA spa VIA DELLE INDUSTRIE 1 - 31035 CROCETTA DEL MONTELLO (TV), ITALY

22, AVENUE DU MAIL . CH 1205 GENEVA . SWITZERLAND TELEPHONE +41 22 307 0990 . INFO@HAUTEHORLOGERIE.ORG © FONDATION DE LA HAUTE HORLOGERIE, 2015 All rights reserved for all countries. No part of this publication may be reproduced in any form or by any means, electronic, recording, information retrieval system, or otherwise, without prior written permission from Mestieri d’Arte and Fondation de la Haute Horlogerie.

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