Swiss Watch Exports – ( Jan-Dec 2017); LVMH up by 13%, excellent year at Bulgari and further progress at TAG Heuer; IWC welcomes Bradley Cooper as new brand ambassador.

   
 
 

Interviews

 

Exclusive interview with Antonio Calce, CEO of Girard-Perregaux

What are Girard-Perregaux objectives for 2018? 

We still have a lot of potential to be developed as a founding brand within the watch industry. We are in the process of revitalising the brand image and we are working on strengthening our dialogue with a new clientele. As I said before: we must make the transition from storytelling to “story living.”

I am indeed convinced that creativity in terms of the product, and emotions with respect to the brand, must take the upper hand. We have to create desires and dreams. The global image of the brand has to be more modern.

Girard-Perregaux is perhaps best known for its emblematic ‘Tourbillon with Three Bridges’. In keeping with its unrivalled reputation, what in your opinion is the present day legacy of the brand?

The legacy of the brand today is LAUREATO for sure. We launched a new LAUREATO collection in January 2017 and it was the first time that LAUREATO has really an entire collection. We encounter a great success and we continue in enlarging this year the LAUREATO family with new models at SIHH 2018.

What are Girard-Perregaux’s greatest challenges now?

We would like to be more emotional, times changed. We need to be more modern and creative. We have to be able to sell watches in a different way and to touch new clients. The watchmaking industry needs to modernize itself. PR and social media are very important. Moreover, Digital world is an essential turning point for brands and a must today. 

How does Girard-Perregaux approach technology as part of the future of fine watch making? And how would you explain the relation between modern technology and traditional handmade watches? 

We need to take modern technology into account in the construction of the future movements of our traditional models and we do it each day in our Research and Development department. R & D is the most important department for me. 
With the Minute Repeater Tri-Axial Tourbillon (new at SIHH 2018), for example, we have a watch that combines 2 of the most spectacular complications. A very contemporary and original timepiece, in line with its time but without forgetting about its past. The tourbillon cage is composed of 145 components with a total weight of 1.34 grams and a complete revolution takes only 2 minutes! This a demonstration of modern technology with knowhow.

From Girard-Perregaux’s point of view, how do you explain the Smart watches impact on watch industry? And would you consider introducing a “connected” (smart) watch to grab attention of the new generation of consumers?

It’s really two separated things. For me the Smart watches have nothing to do with the high watchmaking, with the fine watchmaking. It’s totally another products segment. And it is not the way I will use to grab attention of the new generation of consumers. 

How significant is the Middle East for the brand? What is Girard-Perregaux strategy in the Middle East region for the short and long term futures?

Middle East is getting an important market for the brand, it’s growing up. It’s going better and better. We are looking forward for the new challenge.

What are your key learnings after working in the business of luxury watches for nearly 25 years?

Today, we have a new clientele (customers, consumers), who has another sensibility. The speech is no longer adapted to this new clientele. The Swiss watchmaking industry was renowned for relying on its products, and it had 17 years of incredible growth, but it must now modernize. Once again I would say that we need to change and to improve, the past is the past. Stop talking about the past, now times have changed. 
 
 
 

Market News

 

Swiss Watch Exports – ( Jan-Dec 2017)

Swiss watch exports recorded 2.7% growth in the year 2017 worldwide, as a whole it recorded little short of CHF 20 billion francs (19,924 mln precisely) against CHF 19.4 Billion for the same period in 2016 as per the Swiss Watch Federation. 

The main Asian markets generally saw steep increases in Hong Kong (+6.0%), China (+18.8%) and Singapore (+8.5%) these markets maintained their sustained dynamic growth, South Korea (+5.6%) experienced a slower growth, while exports in Japan  (-2.6%)  dropped. The United States (-4.4%) still seem to be in the doldrums and posted the steepest fall. The trend of Swiss watches industry exports in Europe varied from country to country, the exports of Germany (-2.2%) and France (-0.4%) declined, while Spain (+0.3%) and Netherlands (+17.7%) advanced strongly.
 
While in the Middle East markets, exports dropped in UAE (-3.5%), Saudi Arabia (-6.4%) and Kuwait (-4.0%). The exports of swiss watches increased in Kingdom of Bahrain (+11.3%) and Qatar (+3.7%). 
 

LVMH up by 13%, excellent year at Bulgari and further progress at TAG Heuer.

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €42.6 billion in 2017, and an increase of 13% over the previous year. Organic revenue growth was 12%. All business groups recorded double-digit organic growth with the exception of Wines and Spirits, whose growth in the second half was limited by supply constraints. With organic revenue growth of 11%, the trend seen since the beginning of the year continued into the fourth quarter. 

Bernard Arnault, Chairman and CEO of LVMH, said: “LVMH achieved another record year. The excellent performance, to which all our businesses contributed, is due in part to the buoyant environment but above all to the remarkable creative strength of our brands and their ability to constantly reinvent themselves”.

The Watches & Jewelry business group recorded organic revenue growth of 12%. On a reported basis, revenue growth was 10% and profit from recurring operations increased by 12%. Bvlgari achieved an excellent performance and continued to gain market share thanks to the strength of its iconic lines Serpenti, B.Zero1, Diva and Octo. Growth was particularly strong in Asia, the United States and Europe. The inaugurations of the new manufacturing facility in Valenza and the flagship store on Fifth Avenue in New York are among the major events of the year. Liens and Joséphine collections, and its continued upgrading, drove Chaumet's growth. In the watch sector, TAG Heuer and Hublot continued to grow. At TAG Heuer, a new generation of smartwatch with multiple customization possibilities was launched in 2017.
 

TAG Heuer launched official countdown of Abu Dhabi Cycling Tour.

TAG Heuer launched the official countdown of the Abu Dhabi Tour and announces the #DontCrackUnderPressure prize at the official Abu Dhabi Tour Press Conference, which was held in the St. Regis Hotel on Abu Dhabi’s Corniche on January 23. The new 2018 winner’s jersey of the Abu Dhabi Tour was also unveiled along with the new Abu Dhabi Tour routes. 
 
 

Company News

 

IWC welcomes Bradley Cooper as new brand ambassador.

IWC Schaffhausen welcomed Bradley Cooper as a new brand ambassador. The Swiss luxury watch manufacturer is looking forward to further collaborations with Cooper in the year of its 150th anniversary.
 

Cartier introduces new Santos de Cartier.

The new Santos de Cartier watch  is available in steel, gold, calfskin or alligator skin, all versions are interchangeable thanks to the Cartier QuickSwitch system (patent pending) hidden under the strap. This invisible mechanism blends into the structure of the case and, to activate the system, the wearer simply presses the mechanism. The 1847 MC automatic calibre and the latest design of the Santos de Cartier watch are ever more ambitious in terms of performance and comfort.
 

Tourneau acquired by European watch retailer Bucherer.

Swiss watch and jewelry retailer Bucherer has purchased Tourneau for an undisclosed sum, as announced by the companies recently. Bucherer is buying Tourneau from Green Equity Investors IV LP, an investor group that is an affiliate of private equity firm Leonard Green & Partners and includes members of the Wexler family. The purchase of 28-store chain Tourneau will effectively double its retail footprint, and also give it a presence in the United States. Bucherer said that Tourneau’s management team will remain in place and that it “looks forward to welcoming Tourneau’s employees into the Bucherer family in the coming months.” 
 

Jaeger-LeCoultre launches Polaris watch collection during SIHH

Jaeger-LeCoultre launched its latest Polaris watch collection during Salon International de la Haute Horlogerie (SIHH) in Geneva. The brand’s new ambassador, Benedict Cumberbatch, as well as friends of Jaeger-LeCoultre from all around the world:  Boran Jing, Diego Luna, Joseph Chang, Sunny Wang, Jorge Viladoms, Rebecca Ferguson, Ellie Bamber, Milosh Bikovich, Bruno Van Enck turned out to support.
 

F.P.Journe - Young Talent Competition 2018 at the SIHH

The Young Talent Competition unveils the next generation of most talented young watchmaking apprentices in the world. F.P.Journe organized the Young Talent Competition this year with the support of the Fondation de la Haute Horlogerie (FHH). F.P.Journe and the FHH aim to perpetuate and support the art of haute horology. F.P.Journe awarded the Prizes for the third year to the winning young talents, during the press conference at the SIHH in Geneva.
 

GJEPC’s first-ever India Rough Gemstones Show in Jaipur ends on a positive note.

The first-ever India Rough Gemstones show held from 8th -10th January 2018 at Hotel Marriott in Jaipur organized by The Gem & Jewellery Export Promotion Council (GJEPC) concluded successfully. Shri Subhash Chand Agarwal, Commissioner of Customs, Jaipur was the Chief Guest for the event. Miners and traders in rough gemstones from Afghanistan, Canada, Ethiopia, Hong Kong (SAR of China), Madagascar, Tanzania, Thailand and Zambia were among the 42 international companies exhibited in the show.
 
 

Product Launch

 

Alpina presents Startimer Pilot Chronograph.

A new Chronograph makes its way to the Startimer Collection, the ultimate pilot line from Alpina. This line introduces five new models sporting three different styles. The first is available in a sunray navy blue dial with a matching blue nylon strap or a stainless steel bracelet. All three have a 42mm case with a scratch-resistant sapphire crystal and a specially engraved case-back with the Alpina logo. Each dial is decorated with white or blue luminous indexes and hand-polished hands.
 

EBEL launches Sport Classic

With elegantly thin geometric features crafted in the pursuit of a perfect, flawless shape, the 2017 EBEL Sport Classic Lady is brushed and polished in gold, further accentuate the more elegantly pronounced new wave. Featuring a gleaming white mother-of-pearl dial with Roman numerals and 12 diamonds, the 29 mm diameter EBEL Sport Classic Lady Gold is powered by the quartz movement traditionally associated with this classic timepiece, and is water-resistant to 50 m. 
 

Bulgari presents B.zero1 Labyrinth.

The new B.zero1 Labyrinth, a ring that is a declaration of the power of self-expression. Through the captivating curves of the spiral in rose and white gold. The B.zero1 Design Legend line – the product of the combined talents of Bulgari and star architect Zaha Hadid. The collection is enriched with four new additions: a bold four-band ring in white and rose gold - also available in pavé diamonds. 
 

Frederique Constant presents Classic Worldtimer Manufacture

Frederique Constant unveils its first novelty of 2018, a redesigned Classic Worldtimer Manufacture featuring a new green color pattern. This timepiece displays two separate discs, one featuring a 24h day-night indicator and a second one with the twenty-four cities. As a Manufacture movement, the FC-718 caliber is decorated with Perlages and Côtes de Genève, and holds a 42-hour power reserve. The green timepiece is complete with a green alligator strap with white stitches. 
 

Celebrate Life and Love with Mouawad Jewelry

Mouawad brings you the most distinctive range of gifts to commemorate your eternal love with utter brilliance and romance. From the iconic Flower of Eternity designs, to the heart-shaped Rosette and Love M jewels, Mouawad offers a wide array of bejeweled hearts guaranteed to surprise and delight the person that matters most in your life. 
 
 

Exhibitions & Events

 

VICENZAORO confirms the most important event for jewellery in the European continent

The International Jewellery Show closed last week with excellent general results: an increase in the total presence of buyers of 10% compared to the January 2017 edition. The presence of international buyers of the most important countries for the global gold and jewellery sector is growing strongly. Italy is recovering, with an increase in the presence of buyers +10%. Continental Europe confirms its important presence, with very significant growth in some countries. Germany scores + 22% of presences, + 14% for the United Kingdom, + 20% Greece. Among these we note the growth in terms of presence of Turkey + 34%, Russia + 15%, Ukraine + 13%. On the other hand, Spain is falling. Operators coming from the US increased by 24% in this edition, Japan by 31%, China by 29% and the United Arab Emirates by 9% (despite the recent difficulties registered for the introduction of the new VAT tax).
 
 

Celebrity News

 

Sveva Alviti wears Chopard to the “Césars – Revelations 2018” party

Italian actress Sveva Alviti, wears Chopard in biopic “Dalida”, wears a pair of 18ct white gold earrings set with brilliants as well as an 18ct white gold ring set with brilliants, both from the L’Heure du Diamant Collection.
 

Alexander Skarsgard wears Bulgari to the 23rd Annual Critics' Choice Awards

Best Supporting Actor Nominee Alexander Skarsgard attends the 23rd Annual Critics' Choice Awards wearing a Bulgari watch. The "Big Little Lies" actor opted for the Italian Jeweler's Octo 38 mm watch in gold with a white dial. 
 
 
 
 

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