LVMH sales jump by 25 percent to $8.636 billion in Q1; Swatch Group announced the acquisition of Simon Et Membrez SA; Dubai ranks the second targeted city by international retailers

   
 
 

Market Report

 

Automatic, Mechanical, Hand-Wind – What’s the Difference? A Special Report By Keith W. Strandberg

Automatic, Mechanical, Hand-Wind – What’s the Difference

By Keith W. Strandberg

 

You hear the words bandied about all the time, mechanical, hand-wind and automatic.

But what do they really mean?

 

A mechanical watch is a watch without a battery that is powered by a movement made up of solely mechanical parts (no electronics, no battery). A mechanical movement can be either hand-wound or automatic.

 

A Little History

 

When watches were first introduced, back in the 1500s, they were all hand-wound mechanicals. Energy to power the watch is stored in the watch’s mainspring, and early watches had to be wound via the crown or using a key. The turning of the crown or the key put stored energy into the mainspring of the watch, and then that energy was regulated by the movement to tell the time.

 

The downside of hand wind mechanical watches is that if you don’t remember to wind them, they will run out of energy and stop.

 

In 1770, Abraham Louis-Perrelet invented an “automatic” system, similar to a pedometer, where if the owner of the pocket watch walked around, a movement of a weight in a vertical plane wound the mainspring. According to records, walking the watch around for 15 minutes was enough to wind the watch for several days.

 

When wristwatches became popular, in the early 1900s (the date of the first wristwatch is lost in the fog of history, but it was sometime during or shortly after World War I), Englishman John Harwood filed a patent for an automatic system in a wristwatch that used a weight that swung back and forth with the movement of the wrist, which wound the watch automatically. Harwood’s system (which was manufactured by Fortis Watch Company in Switzerland) swung back and forth, hitting springs on each side, and as a result these kinds of watches are called “bumper” or “hammer” watches.

 

The advantage of Harwood’s system is that any movement of the arm wearing the watch wound it, so wearers didn’t have to walk the watch around, like in Perrelet’s version.

 

In the 1930s, Rolex improved on Harwood’s design, making the oscillating weight, now called a rotor or oscillating weight, able to rotate in a circle, which is more efficient.

 

The Automatic Watch Today

 

Today, the automatic watch reigns supreme. Due to its convenience, most mechanical watches are automatics. There are different kinds of rotors – regular, mini, rotors on the front of the watch, peripheral and even linear rotors. Though automatic rotors are convenient, they cover up the back of the watch (except, with peripheral and mini-rotors, and rotors on the front of the watch), which can be an annoyance when you are trying to admire the beautiful finishing and complexity of your mechanical movement through an exhibition caseback.

 

Hand-Wind Renaissance

 

For aesthetical reasons, there has been a renaissance of hand wound movement watches. These beautiful watches evoke a bygone era and really showcase the beauty of the finishing of the movement. Turn a handwound watch over and you can admire the amazing mechanical movement powering it without any encumbrances – it is completely visible on full display.

 

In addition, thin is definitely in again – and an automatic rotor adds thickness. Many watchmakers, in the quest to reduce thickness, make hand wound watches to save the space. Piaget has been a pioneer in thin watches, holding the record for thinnest hand wound mechanical and thinnest automatic mechanical watches.

 

“The automatic movement has all the additional parts of the winding system and the rotor, which makes it obviously thicker,” Pierre Guellier, product manager, Piaget, explains.

 

Master watchmaker Ludovic Ballouard, owner of his own eponymous brand, prefers hand-wind mechanical watches. “They are pure timepieces,” he says. “All my watches are hand-winding. With automatic watches, you can forget that you are wearing a marvelous mechanical timepiece. A hand-wind watch demands your interaction – it becomes a part of your life.”

 

Vintage Revival

 

Recently, vintage designs have become extremely popular throughout the watch industry. Companies looking to make authentic, vintage-inspired watches are choosing to use hand-wound mechanical movements as they are what was used in the original designs.

 

In addition, some companies are taking it one step further and using vintage movements in limited edition watches, and the majority of these are hand wound as well.

 

One case in point is Zenith’s new Pilot Montre d’Aero nef Type 20, a limited edition 57.5mm timepiece introduced this year which uses the famous Zenith 5011K hand-wound mechanical movement. These vintage movements were found in storage in the Le Locle, Switzerland-based Zenith manufacture by company president, Jean-Frederic Dufour, and completely refurbished for this 250 piece limited edition.

 

The Future of Mechanicals

 

Thankfully, mechanical watches are here to stay, whether hand wind or automatic. Whether you choose an automatic watch or a hand-wind timepiece really depends on personal taste. Whatever you choose, enjoy!

 

Box 1: The Magic of a Hand-Wind Watch

 

Nick Stellino, celebrity chef and bestselling author: “My most precious watch is my oldest one, my father bought it when I was born. When questioned by my mother about the reason for such an extravagant purchase, especially at a time when every penny was needed, he answered to her that he wanted to memorialize this milestone in his life and the promise he had made to his family. That watch, to him, represented what he wanted to become.

Later in life, he always used to come, late in the evening, into our bedroom, to kiss me and my brother goodnight, he would let me wind his watch and say: ‘If you wind my watch, good and tight, I will always know what time it is and I will always come home for your goodnight kiss.’  He always did!

 

Box 2: How a Mechanical Watch Works

 

Every timepiece has four requirements:

1. A power source

2. A way of transmitting the power

3. A way of regulating that power

4. A way of indicating the power so you can tell the time.

For mechanical watches, the power source is the mainspring. The mainspring’s power is transmitted through a series of gears called the “gear train.” The balance wheel, which is the part of the watch that turns back and forth at a changeable rate, is where the power is regulated. The indication is done by the hands: hours, minutes, seconds.

All these things combine to make the watch what it is and determine how well, or how poorly, it keeps time. In its simplest terms, a watch is very similar to a wind-up car – you turn the key to give it power, it has gears and the number of teeth in the gears determines how fast it will go across the floor. In a watch, you wind up a mainspring, supplying power to the gears. Instead of going across the floor, a watch applies that power in a different way, to turn the hands of the watch.

 
 

Market News

 

LVMH sales jump by 25 percent to $8.636 billion in Q1

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LVMH has recently reported that first-quarter sales rose 25 percent year on year to $8.636 billion.  Revenue from the group's watches and jewelry segment, which now includes Bulgari rose to $827 million from $342 million. The jewelry business recorded an increase in revenue of 17 percent. LVMH expanded its store network in Asia and the new watches presented at Basel were very well received, according to the retailer. The group saw particularly fast growth in Asia and in the United States and also reported good progress in Europe.

 

Swatch Group announced the acquisition of Simon Et Membrez SA

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On 12 April 2012, the Swatch Group has announced the acquisition of 100 percent of the shares of Simon et Membrez, in Delemont. The shares are currently owned by Philippe Membrez, the company's CEO, and Etienne and Didier Membrez. In addition, Swatch Group is also acquiring the related 60 percent holding in Termiboites SA (case polishing) in Courtemaiche that counts 50 employees. Simon et Membrez is a seamless fit alongside the existing Swatch Group production companies and logically complements Comadur, Ruedin and Lascor, the companies active in the production of watch casings within the Swatch Group. Swatch Group has a long-standing business relationship with Simon Et Membrez SA for a number of its watch brands (Breguet, Blancpain). Simon Et Membrez SA will continue to supply third parties.

 

Dubai ranks the second targeted city by international retailers

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According to a survey conducted by the CBRE, the world's leading commercial real estate services firm, Dubai was ranked as the second most targeted city by international retailers and the UAE the world's second most international retail market. The report found out that Middle East markets continue to attract an increasing number of international retailers, competing with established global retail centers. The Middle East remains the most favored destinations for retailers when they think of expansion outside their original regions. Four Arab and Middle Eastern cities are among the most favored by the retailers; Dubai topped the rank by 60.1 percent followed by Istanbul (48.6 percent), Kuwait (44.3 percent), Riyadh (44.3 percent), and Jeddah (42.1 percent).

 

Christie's Dubai sales of Modern and Contemporary Arab, Iranian and Turkish Art total $ 6.4 million

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Christie’s April sales of Modern and Contemporary Arab, Iranian and Turkish Art totaled $6,402,825 / AED23,515,190 against a pre-sale high estimate of $6.1 million. The sales were 92 percent sold by value. The totals for the sales were Part I - $4,016,300/AED14,751,870 and Part II $2,386,525/AED8,763,320. The highlight of the auction was the $46,300 raised during the sale of seven lots for the World Food Programme. Michael Jeha, Managing Director of Christie’s Middle East and Head of Sale, said: “The combined total for this, our 12th season in the Middle East, is an encouraging indication of the continuing maturity and long term strength within this market.

 
 

Company News

 

Zenith opens new boutique in Qatar

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Zenith Watches has recently inaugurated its elite boutique in Doha. The inauguration was attended by, among others, Zenith CEO Jean-Frederic Dufour and Nabil A R Abu Issa, the CEO of Blue Salon, the group credited with bringing numerous luxury brands to Qatar. The boutique is part of Doha’s newest luxury destination, The Gate Mall. More than just a boutique opening, the event was an experience in itself as guests were invited to immerse into the wonderful Zenith universe, with the ambiance of the boutique emanating the brand’s elegance. Zenith has been synonymous with exactitude and craftsmanship and their exclusive watch designs on display always echo these values. The latest to follow the new design concept of Zenith’s boutiques, seen only in Geneva and Hong Kong thus far, the Doha boutique is truly a work of art worth visiting.

 

2012 Blancpain Race Weekends in Monza

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The first racing event of the 2012 season, with 56 dream sports cars, 159 drivers and a total of more than 30,000hp in the Blancpain Endurance Series as well as 17 Lamborghinis LP560-4 in the Lamborghini Blancpain Super Trofeo demonstrated impressively just how interested the teams and drivers are in the new Blancpain Race Weekends. The 2012 Blancpain Endurance Series will take place at attractive European circuits on six weekends, with a 3-hour race. The Total 24 Hours of Spa will be the highlight of the series at the last weekend of July. Marc A. Hayek, President and CEO of Blancpain, will participate again with a Lamborghini Gallardo LP600+ at the next event in Silverstone (2 – 3 June 2012). The Swiss will also defend his ADAC GT Masters Amateur Championship title in a Gallardo LP600+. The German racing team Reiter Engineering is in charge of the cars.

 

Chopard Haute Joaillerie workshops visit Place Vendome

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On the initiative of Caroline Scheufele, Co-President and Artistic Director of the House of Chopard, the artisans from the Haute Joaillerie workshops of the Geneva-based watchmaker-jeweller took up temporary residence in the salons of the Ritz Hotel on Place Vendome. This one-day event was intended to offer a preview of several stellar models from the 65 creations in the Red Carpet 2012 collection that will be officially presented at the upcoming Cannes Film Festival. Eva Herzigova, a friend of Chopard’s, who will be wearing the jewellery creation paying tribute to Marilyn Monroe for the mounting the steps ritual at the opening ceremony of the Cannes Film Festival, along with Berenice Bejo who plays Peppy Miller in the award-winning film The Artist, both gladly accepted Caroline Scheufele’s invitation and honoured these travelling workshops with their presence.

 

Hublot alongside Alinghi in flying the Swiss colours on waters around the world

After its commitments to Alinghi in 2009 and 2010 in the 33rd America’s Cup, Hublot is now renewing its partnership with the Swiss team in its big international challenges. Hublot is pleased to announce its presence on board the two monotype series boats chosen by Alinghi for the 2012 season: the Extreme 40 and the Decision 35. The former will take to the open waters around the world in the highly rarefied Extreme 40 international circuit. The first round was held in Oman at the end of February, and next week will see the second round in Qingdao (China) on the waters that hosted the sailing events at the 2008 Beijing Olympics. The second boat – the Decision 35 Alinghi - will be in action on Lake Geneva. It sets sail from Geneva the first weekend in May – from the 3rd to 6th – in the Grand Prix Les Ambassadeurs. To mark the occasion, Ernesto Bertarelli and Jean-Claude Biver will unveil, on 4 May after the regattas at the Societe Nautique de Genève, the new series of watches, limited to just 100 numbered pieces.

 

Girard-Perregaux unveils the First Journal featuring its Eight Young Watchmakers

Girard-Perregaux is proud to announce the unveiling of an industry first, the print and online journal: The New Face of Tradition, Eight Young Watchmakers and the Art of Making Time. Not assuming brilliance and lightning strike in one place, Girard-Perregaux observed these young watchmakers not only in their own Atelier, but also in their time with friends, family and alone. The New Face of Tradition will be a first in the luxury watchmaking industry, highlighting not only the work of the incredibly talented watchmakers in their famed Manufacture based in La Chaux-de-Fonds, but also the diversity of passions these artisans possess. From rock & roll stars to puzzle masters and international alpine horn champions, the young watchmakers are as multi-faceted as the Girard-Perregaux luxury timepieces they create.

 

The Journey of the Queen of Naples Breguet

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Breguet is paying tribute to the Queen of Naples through an exceptional exhibition. The latter celebrates the 200th anniversary of the creation of the first wristwatch in horological history, commissioned by Caroline Murat, Napoleon’s sister and the Queen of Naples in 1810, and finally delivered in 1812. Moreover, the House of Breguet is also taking the opportunity to commemorate the 10th anniversary of its Reine de Naples flagship ladies collection. Following the undeniable success at the launch of the Geneva Exhibition, Breguet is not taking it on a world tour. As of today, what is now a travelling exhibition is being successively hosted in China and next week in the United States.

 

F.P. Journe exhibits its Collection “Steel Time” in the USA

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After Geneva and Tokyo, the renewed Forbes Galleries in New York at 62 Fifth Avenue will host the exhibition Steel Time, featuring the largest historic collection of gunmetal watches – burnished steel - a remarkable display of 200 watches made between 1850 and 1910 from 21 April to 15 September 2012. For many years, Francois-Paul Journe, a passionate and knowledgeable collector brought together this collection of singular gun-metal timepieces. He is the privileged guardian of this historical heritage and is proud to share this unique collection with the American public at The Forbes Galleries. The NAWCC (National Watch and Clock Museum) in Columbia, PA, is supporting this exhibition.

 

Maurice Lacroix Awarded Two Design Prizes by the “Red Dot Award: Product Design 2012”

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On the occasion of the “red dot award product design: 2012”, two Masterpiece models of Maurice Lacroix,  Roue Carree Seconde and Double Retrograde, were awarded the “red dot winner 2012” seal of quality for excellence in design, by a jury of top-class experts. On the new Roue Carree Seconde, the seconds are displayed by a square wheel that is turned by a cloverleaf-shaped wheel. The special feature is the displaying of the hours, minutes and power reserve directly on the plate of the movement, which functions as the dial. The Masterpiece Double Retrograde feature 43 mm stainless steel case is water-resistant to 5 bar and has an alternating polished and satin-brushed finishes in an extremely modern style. The decoration of the movement is revealed through the sapphire crystal case back.

 

Bremont supports Gary Connery in setting a new world record

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Bremont Watch Company, is delighted to support Henley based stunt man Gary Connery in preparation for his biggest stunt yet. This April 2012 Gary planned to make a new world record in being the first man ever to jump out of a helicopter with a wingsuit and land without deploying a parachute. Gary Connery realizes a lifelong ambition of jumping from a helicopter 2,400ft above the height of the box rig over Ridge Wood to the ENE of Henley on Thames. Gary will drop for 3 seconds before his suit starts to fly, he will then accelerate to approximately 80mph. He will get into his tried and tested best glide position where the speed will decrease to 60 mph forward speed with a 22mph vertical descent rate. The whole flight should last in the region of 50 seconds and will come to an end with Gary landing on a box rig.

 

The Address Dubai Mall hosts a charming evening with DoDo jewellery

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The Address Dubai Mall rolled out the red carpet as Dubai’s social and fashion scene gathered at Cabana to celebrate the charming DoDo jewellery collections, which are available exclusively at Bloomingdale’s – Dubai. The outdoor, poolside location offered a scenic welcome for guests during the cocktail reception and preview of the DoDo collections, which were beautifully displayed in private cabanas. While guests enjoyed the view and ambience, they also had the chance to experience the essence of the DoDo collection by playing interactive games to determine which DoDo charm best suited their personality.

 
 

Product Launch

 

Harry Winston presents Ultimate Adornments

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Through its latest collection of incredible jewels, the House of Harry Winston arrives one step closer to achieving Mr. Winston’s ultimate dream to one day dress a woman purely in diamonds, while exploring the art behind our most time-honored traditions of craftsmanship and design. Entitled Ultimate Adornments by Harry Winston, this incredible array of spectacular designs envisions the international art of dressing a woman in the unique style that only Harry Winston can. In creating this exceptional collection, the Harry Winston Design Team returned to the archives for inspiration, including the works Ambaji V. Shinde, Mr. Winston’s chief jewelry designer for more than 40 years (1962-2001). Hand crafted entirely in diamonds and platinum, the 40-piece collection is presented through seven distinctly different themes, each recalling unique adornments from around the world.

 

Cartier launches its latest Jewellery creations

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Cartier chose New York as the backdrop for the launch of its Juste un Clou Jewellery Collection, which graced the landmark Cartier Mansion on Fifth Avenue and 52nd Street. This insightful retrospective allows viewers to (re)live the free-spirited creative adventure that was Cartier in the Seventies, an era that inspired designer Aldo Cipullo to create two cult bracelets for Cartier: the Love Bracelet and the Nail Bracelet. Echoing the festive wildness at heart that sprung up around the iconic Studio 54, this classic piece was ahead of its time, displaying a modernity that remains up to date: the bracelet is back, redesigned to nail contemporary style. The launch of Juste un Clou at the Cartier Mansion, New York City on 12 April 2012 was followed by an exclusive star studded after-party.

 

RAYMOND WEIL reveals Maestro Petite Seconde Or Rose

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Like an orchestra conductor who leads into a symphony to the rhythm of his baton, RAYMOND WEIL reveals the notes of its 2012 musical score, bar by bar. The new maestro Petite Seconde Or Rose (maestro Small Seconds Pink Gold), the second crescendo in its emblematic collection, is written with elegance and pose on its musical staff. Presenting a striking yet charming contrast between a deep black dial and pink gold indexes and hands, this prestigious timepiece offers the amateur a new way of seeing the time. The maestro Petite Seconde Or Rose, as its name indicates, features the seconds-hand, which is placed delicately in a small counter zone at 6 o’clock. Its refined simplicity contrasts with the Clou de Paris decor of the black galvanic dial.

 

Vacheron Constantin launches iPad Application

An extension of its website, Vacheron Constantin’s new iPad application, now available free of charge from the App Store, offers rich content and incredible ease of use. The Vacheron Constantin application is divided into 7 categories: Novelties, Collections, Favorites, Movements, Videos, News and Points of Sale.

 

U-BOAT introduces "Chimera" U-51 Bronze and "B and B" models

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Italo Fontana, creative mind behind U-BOAT, has always been attracted to design and to particular objects characterized by a strong and timeless identity. His passion for “Vintage Culture” gave him, in 2000, the idea of rejuvenating his grandfather’s 1942 project for the manufacture of watches specially designed for Pilots of the Italian naval forces. Examples are the two U-51 models, Bronze and “B and B”, one completely in bronze and the other one matched with black IPB stainless steel, both with the case originally designed for the 2010 limited edition, U-51 Rattrapante. Every detail has been studied in order to increase the Vintage look effect and let the material naturally change age with time. For these limited editions of only 300 items each, the bronze metal has been treated with carefully selected acids and it has not received any rhodium coating in order to keep the raw material natural.

 

Montegrappa launches NeroUno fragrance in UAE

Montegrappa has recently launched the NeroUno, a new sophisticated fragrance for men in Paris Gallery UAE. This is part of an overall regional launch of Montegrappa's fragrance in Paris Gallery stores across the region, and follows the successful launch of the perfume in Qatar and KSA. Available in 50ml and 100ml exquisite packs, and supported by a range of gentlemen's toiletries and shower accessories, the NeroUno Fragrance radiates a fresh top note combining Italian scents, including some herbs and flowers specific to the Monte Grappa mountain range in North East Italy. The middle notes include herbs and spices to provide a distinguished gentlemen's fragrance. The new NeroUno fragrance complements Montegrappa's recent widening of the product collection to include gentlemen's lifestyle accessories, including cufflinks, watches and leather goods.

 
 

Celebrity News

 

Katy Perry and Olivia Palermo shines in Carrera y Carrera jewelry

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Taking the stage at the 2012 MusiCares benefit gala, honoring Paul McCartney, in Los Angeles, California, a stunning Katy Perry was seen wearing the maxi ring in white gold with diamonds and rock crystal from Gardenias, one of the company’s most romantic collections. Meanwhile, fashion icon Olivia Palermo selected the leopard pendant in yellow gold and diamonds from Bestiario, one of the boldest and most creative collections from Carrera y Carrera, for a New York premiere.

 
 
 
 

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