Tiffany & Co profit soars +63 percent in Q3; Movado sales rise 16 percent in 2011 Q3; Rolex Tower in Dubai wins overall project of the year at the Middle East Architect Awards 2011

   
 
 

Market Report

 

The Popularity Contest in Timepieces: 10 Top Watches by Roberta Naas

The Popularity Contest in Timepieces: 10 Top Watches

By Roberta Naas

 

Well, ok it may not really be a popularity contest, but the truth of the matter is that 2011 was an amazing year for new watch introductions in so many categories, and as such not every watch could be the most sought after. Some, however, definitely pulled far ahead of others in terms of consumer demand -- making them the most popular watches of the year, and also paving the way for new renditions in 2012.

 

Among the categories or realms of watches that garnered the most attention this year are complicated watches and those offering new technology, extreme complications and high-tech-materials.

 

“There is a new implementation of useful functions in the complicated realm and new attention paid to high-tech materials,” says Richard Mille, independent watchmaker. “Today’s collector wants developments that blend technology, mechanics and performance and that give a sense of the art of watchmaking.”

 

Indeed, this attention paid to the art and technical prowess of watchmaking is key to many of the world’s finest connoisseurs. Men and women alike in today’s economical environment seek excellence, craftsmanship and creativity.  What follows are 10 top timepieces  (unusual technology, complex, high-tech)  that wowed the watch world during 2011, and are destined to continue to woo customers as they make their way on to the global markets and, ultimately, on to  watch connoisseurs’  wrists.

 

Unusual Pieces:

 

Hermes Arceau Time Suspended

 

In a world where building watches is all about showing the most alluring readouts of time, Hermes stuns us with its newest creation --  Arceau Time Suspended – that actually puts the emphasis on stopping time. From Hermes and master watchmaker jean-Marc Wiederrecht, who has been building some of the most complex watch movements for nearly a quarter of a century, the Arceau Time Suspended  watch  is truly one of the most original marvels of the 2011 watch world, as it explores the idea of hiding time so one need not worry about its passing. Four years in the development process, the watch brings the Hermes concept of “Time as a Dream” to life.

 

Essentially the triple retrograde Arceau Time Suspended watch offers hour and minute hands, as well as a retrograde date indication in arc format across the lower portion of the dial. The visible tracking of time (the hours, minutes and date) can be stopped with the push of a button.  At that point, the hour and minute hands relocate themselves to a space near 12:00 on the watch dial and no longer move. Even though the watch continues to track time internally, the wearer is not aware of the passing time. Even the date hand disappears. Thus, to forget about time’s passing and enjoy the moment, one need only press a button. With another press on the pushbutton, the hands begin running again and reset themselves automatically to the correct time (which the heart of the watch has been tracking all the while), and date– no matter how long time has been “suspended.”  The triple retrograde system (one each for the hands, the minutes and the date) is set on a base movement that always keeps the time. There is a separate 140-piece module on top of the base that engages and disengages the time-stopping mechanism.  It is being built in a limited edition of 174 pieces in stainless steel, and 174 pieces in 18-karat rose gold.

 

Christophe Claret:  21 Black Jack

 

Crossing a line between timepiece and game piece – the newest Christophe Claret 21 Black Jack is an amazing feat.  In this horological masterpiece, Claret deftly combines his specialty of chiming time, with complicated movement making and pure fun for one of the more unique watches on today’s market.  In addition to displaying hours and minutes, the watch enables its wearer to play three casino games: black jack – with striking mechanism; roulette; dice. Two side windows reveal the artistry herein: one shows the striking hammer with its gong, while the other shows the two dice. The automatic Caliber BLJ08 consists of 501 parts, 40 jewels and seven double ceramic ball bearing mechanisms. It is offered in either a 45mm gray titanium case, black PVD titanium case, or black PVD titanium and 18-karat white or pink gold case. Dial choices are either a pure black onyx dial, or a sapphire dial featuring plate adorned with casino-related motifs. Just 21 pieces of each version will be built.

 

Harry Winston: Opus 11

 

The release of the annual Opus from Harry Winston has been one of the most anticipated unveilings, ever since 2001 when http://www.harrywinston.com/Harry Winston first started its Opus series to celebrate independent watchmaking through distinct partnerships. Indeed, some of the most incredible mechanical timepieces have been born of these collaborations between Harry Winston and individual watchmakers, and 2011 was no exception. The Opus 11, created in partnership with engineer and watchmaker Denis Giguet, (also founder of the watch brand MCT), is a brilliant piece of mechanical engineering that celebrates time -- and the deconstruction thereof.  The amazing thing about this watch is not the design, as much as its action.  This watch is all about time exploding – or deconstructing -- and then reconstructing right before your eyes.  The watch, features three overlapping cylinders or circles – on three levels:  the center or main circle indicates the hour; two auxiliary dials on the side of the main circle show the minutes (on a jumping disk for the tens, and on a running disk for the units), and the titanium balance wheel. Every 60 minutes, the digits that indicate the time in the center of the main circle (shown via pallets) explode into tiny bits and pieces and then come back together again almost instantly to form the new hour indication. The action works via a complex rotating gear mechanism with 24 revolving placards. In all, the movement consists of 566 components, 155 jewels, and 24 conical pinions. It is being created in a limited edition of 111 pieces.

 

Complicated Watches:

 

Rotonde de Cartier Astroregulateur

 

An original movement that was five years in the making and has four patents pending, the 9800 MC Calibre, housed in the Rotonde de Cartier Astroregulateur watch, is Cartier’s answer to the effects of gravity on the mechanical movement. Prior to this unveiling, the only movement that could compensate for the effects of gravity on a mechanical watch when in a vertical position was a tourbillion escapement.  With the Rotonde de Cartier Astroreguateur, the innovative solution to compensating for gravitational effects focuses on the rotor – the only part of the watch that always returns to the same position even in the vertical plain.  To maintain the center of gravity in one position, the escapement of the watch is connected to the rotor and mounted on the front of the watch dial, visible to the wearer.  The sub-seconds dial is also attached to the rotor, and rotates with the rotor for a constantly moving visual appeal. The pendular seconds hand rotates around the sub-seconds dial in a normal spin. All of this is accomplished via two differentials that transform the wrist speeds into one single constant speed to the micro-rotor, which has five times more components than a tourbillion escapement.  The caliber 9800 MC is a 43-jewel movement with 80 hours of power reserve and 281-parts. Just 50 limited, numbered pieces will be produced of the Astroregulateur in a niobium-titanium alloy case.

 

A. Lange & Sohne Pour  le Merite

 

The extremely interesting Richard Lange Tourbillon “Pour le Merite” is the brand’s fourth watch to house the company’s unique fuse-and-chain transmission, along with a tourbillon with patented stop-seconds mechanism. What makes this watch so unusual and different is a highly unique concept wherein a portion on the left side of the hour dial disappears for six hours at a time every day from noon to 6:00 pm or from 6:00 to 12:00, to reveal more of the tourbillon escapement, and then returns into place to show more dial. It is a marvelous delight. The hand-finished Lange caliber LO72.1 manually wound movement consists of 351 parts without the chain included and 636 parts with the chain included.  The watch is inspired by an historical regulator pocket watch crafted in 1807. The dial features overlapping circles that indicate the time: a large minute circle as the dominant element; smaller subdials for the seconds and the hour. Just 100 pieces will be made in platinum; it will also be offered in pink gold.

 

Vacheron Constantin Patrimony Traditionnelle World Time

 

With much research and development devoted to its world time watches, Vacheron Constantin has released, as part of its Patrimony collection, the Traditionnelle World Time -- the first watch created to display all 37 time zones, including those offset from the Universal time coordinates by the quarter hour. The watch is both beautiful and mechanically advanced. Developed in-house and bearing the Geneva Seal, the watch houses the brand’s patent-pending Caliber 2460WT with 255 parts and 40 hours of power reserve. The display features three dials (a map and city names dial, a sapphire disk that shows day and night around the world, and the outer chapter ring that bears the minute track and hour markers. It is offered in 18-karat rose gold, and a white gold version will be forthcoming.  It is not a limited edition, but only a few can be built annually.

 

IWC Portuguese Siderale Scafusia

 

This year, IWC unveiled one of the most alluring and advanced astronomical watches of our time. Nearly 10 years in the making, the watch brings together astronomical displays and offers real and average solar time, along with a host of other functions.   At first glance, the most immediately alluring feature of the highly complex watch is the constant-force tourbillon, which, with second hand attached to it, occupies a grand part of the dial. However, the reverse side of the watch holds much of the astronomical and perpetual calendar magic. Herein are a celestial chart, horizon, geographic coordinates, solar time, sidereal time, sunrise and sunset display, day, night and twilight indications, and a perpetual calendar. 

 

Every Portuguese Siderale Watch, with its newly designed hand-wound 94900 caliber, is unique in that, in addition to the personal celestial chart being customized for the owner’s hemisphere, case materials and dial designs can be selected. The 56 jewel hand-wound movement is shock resistant and the entire 46mm watch is water resistant to 3 bar – strong enough to be worn regularly. Once an order is placed for this piece, it will take about one year to build.

 

Patek Philippe Minuter Repeater, Ref. 7000

 

Patek Philippe- long a leader in complex timepieces, turned much of its attention this year to women’s complexities, unveiling an extensive array of complicated women’s watches. Perhaps most alluring is its first-time-ever women’s Minute Repeater. The Ref. 7000 houses multiple gongs to chime the hours, quarter hours and minutes on demand. The self-winding caliber with off-center mini-rotor in 22-karat gold is an ideal movement for the watch thanks to its small dimensions. The 342-part movement consists of intricately finished and precisely placed toothed racks and wheels that move accurately into place to perfectly track and chime the time. Due to the complexity of building this watch, just one master watchmaker is responsible for the assembly, adjustment and completion of each individual piece from start to completion.

 

High-tech Materials

 

Panerai Luminor Marina Composite 1950 3 Days Automatic

 

Panerai , which offers bronze and other innovative and durable materials, has  developed a composite of aluminum and ceramic that it unveiled just a few months ago in its Panerai Luminor Marina Composite 1950 3 Days Automatic.  The Panerai Composite is created via an electro-chemical process that transforms aluminum particles, making the material extremely light-weight, but at the same time incredibly hard and durable. The matte finish that results from the process is not only technically advanced, but also distinctive in color and appeal. The entire Luminor 1950 case, integrated bezel and trademarked bridge protecting the winding crown, is executed in the material.  The 44mm watch houses the automatic Panerai P.9000 movement and features a dial consisting of two superimposed layers of Super-LumiNova for the numerals and hour markers.  It is water resistant to 300 meters.


Richard Mille Bubba Watson Tourbillon


With the addition of golfer Bubba Watson (the longest driver on the PGA Tour) to the Richard Mille ambassador line up, the brand has created the avant-garde RM 038 Bubba Watson tourbillon timepiece with titanium parts and a tripartite case of light-weight yet rugged Magnesium-Aluminium AZ91 alloy. The alloy is treated with a crystalline oxide ceramic that makes the case ultra scratch- and corrosion-resistant. The 48mm RM 038 watch is water resistant to 50 meters, and is produced in a limited edition of 38 pieces.

 
 

Market News

 

Tiffany & Co profit soars +63 percent in Q3

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Tiffany & Co. posted third quarter sales increase by 20.5 percent VS the same period in 2010 to $821.8 million for the three months that ended on October 31. The Net earnings jumped 62.8 percent to $89.7 million. Tiffany’s results show the luxury shopper is continuing to spend freely. That segment has rebounded more quickly from the recession than others. Sales rose in all regions, including a 17 percent increase in the Americas and a 44 percent rise in Asia-Pacific.

 

Movado sales rise 16 percent in 2011 Q3

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Movado Group’s third quarter sales rose 16 percent year on year to $142.6 million and cost of sales rose 14 percent to $61.6 million. Gross profit as a percentage of sales rose to 56.8 percent from 56 percent one year ago. The company attributed the gross profit improvement to a favorable shift in channel and product mix, as well as leverage gained on certain fixed costs. Movado paid out higher compensation and benefits expense this quarter compared with one year ago.  Operating income, however increased 3.5 percent to $19.1 million.

 

Rolex Tower in Dubai wins overall project of the year at the Middle East Architect Awards 2011

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The 235 meter high Rolex Tower in Dubai, designed by SOM, has been named Overall Project of the Year at the Middle East Architect Awards 2011. The Rolex Tower is owned and managed by Seddiqi & Sons Investment, the real estate arm of the UAE’s leading timepiece retailer, Ahmed Seddiqi & Sons. A spectacular glass-fronted symbol of timeless elegance, precision and quality, the Rolex Tower is the result of a 50 year partnership between Ahmed Seddiqi & Sons and Rolex.

 
 

Company News

 

Hublot celebrates the Formula 1™ Grande Premio Petrobras Do Brasil 2011

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The last Grand Prix of this season's FIA Formula One World Championship™. A final held in Brazil in the warm festive atmosphere for which the Brazilians are so famous. As the Official Watchmaker of Formula 1™, Hublot is proud to present the new F1™ King Power Interlagos in tribute to the land of samba and the famous São Paulo circuit (famous because, unlike other courses, it runs anticlockwise), available in a limited edition of 250 numbered pieces. Sporting the same cobalt blue (pantone 280) that is found in the centre of the Brazilian national flag, the F1™ King Power Interlagos is rendered unique by several features executed in a range of high-tech materials directly inspired by Formula 1™ (some of which have never before been used in watchmaking).

 

Harry Winston support the Bokra Project

Harry Winston partnered with legendary music producer Quincy Jones and Emirati social entrepreneur Badr Jafar for the official global launch of the Tomorrow/Bokra song music video and documentary film. To commemorate the evening and continuing its longstanding commitment to philanthropy, Harry Winston unveiled 11 unique models from its new Midnight collection, designed to support the Bokra Project. Each timepiece will feature the engraved signature of leading talents. The red carpet World Premiere event for the Bokra Charity song was held on November 11th 2011 at the One & Only, The Palm, in Dubai. This glittering occasion was attended by royalties, distinguished guests, artists and celebrities.

 

Hermes masterpiece Arceau Le Temps suspendu wins "Watch of the Year 2011"

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Hermes is pleased to announce that the Arceau Le Temps suspendu won "Watch of the Year 2011" by the trade magazine Montres Passion. At a ceremony held in Geneva on 11 November 2011, Luc Perramond, CEO of La Montre Hermes, was awarded the prize before an audience of more than 500 movers and shakers from the watchmaking world. The Jury chose to distinguish the Arceau Le Temps Suspendu watch for its "undeniable poetry", "its creative audacity" and "its ingenious mechanism" - all core values in the genesis of the product and in the unconventional approach to time developed by Hermes.

 

Piaget in Florence and the Machine video “No Light, No Light”

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Florence Welch of famed Florence and the Machine has once again selected Piaget, to wear in her latest music video “No Light, No Light” the second single from her number 1 album, Ceremonials. Piaget continues to be the natural partner for the stylized universe of Florence and The Machine. The classic and timeless Altiplano watch adorns Florence’s wrist. The elegant and refined timepiece perfectly reflects the merging styles of the music video. Furthermore, Florence, a style icon in her own right, wears the generous and sensual Possession white gold and diamond ring through out the music video to finish off her modern, chic, and angelic look. Pieces featured in the new video are available at Piaget boutiques and selected retailers nationwide.

 

Richard Mille watch is awarded a prize by the government of the Republic and Canton of Jura

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Richard Mille and Dominique Guenat, the president and director of Horometrie S.A respectively, were the recipients of the Innovation and Excellence Award from the government of the Republic and Canton of Jura for the RM 027 tourbillon watch Rafael Nadal. They were presented with the award by the vice-president of the Government, Elisabeth Baume-Schneider, and the Minister of the Department of Economy and Cooperation, Michel Probst, at a ceremony that took place on 2 November at the offices of the company Horometrie in Les Breuleux. The Jura government said it ‘fell in love with this Richard Mille mechanical watch, which is the lightest watch ever created with a tourbillon movement, and combines technological with aesthetic qualities’.

 

Elisabetta Canalis wears Glam Rock watch on Dancing With The Stars

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Glam Rock watches brings some of its Miami glitz to Los Angeles and on the wrists of all star contestants of Season 13 of “Dancing With the Stars.” Glam Rock Watches is proud to join forces with Elisabetta Canalis to help her support the Julien Collot Foundation. Glam Rock will donate 100 percent of the sales of Elisabetta’s SoBe black and white favorite watch to the foundation. This non-profit organization was created in 2007 to support the Bone Marrow Transplant Research Team at Memorial Sloan-Kettering Cancer Center in New York. It was created in honor of 8-year-old Julien Collot, who suffered from a rare form of Leukemia and passed away at the beginning of this year after having fought the disease for most of his life.

 

Parmigiani receives Gulf Conoisseur Honours with Bugatti Supersport Chronograph

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Parmigiani Fleurier bagged top honors at the Gulf Connoisseur Awards, when their Bugatti Supersport Chronograph Limited Edition was adjudged the Best Male Complication Watch in a field replete with leading international luxury marques. The awards were distributed at a glittering function at The Palace, Old Town, Dubai that saw the who’s who of the luxury industry together. The awards were adjudged by a panel of high-powered judges comprising leading business personalities and acknowledged connoisseurs of the finest in luxury. The award was received by Guillaume Marx, Area Sales Manager of Parmigiani Fleurier.

 

Eterna and Porsche Design Timepieces appoints new CEO

Eterna and Porsche Design have announced the appointment of Patrick Kury as their acting CEO, effective right away. Patrick has literally spent a lifetime preparing for his new role. He grew up in a family of watchmakers. When he told his parents that he wanted to go to watchmaking school, his father somewhat concerned, for he knew that the watch industry was full of risks. However, Patrick persevered and learned his chosen trade well. Patrick has served as Eterna’s Chief Technology Officer since 2005 and has been serving as the company’s Deputy Executive Director since 2008. Patrick holds many patents for watch design, including one that Eterna is currently developing that will produce a constant power force on a watch’s gear train.

 
 

Product Launch

 

TAG Heuer Ambassador Lewis Hamilton Launched the Carrera 1887 Timepiece Collection at The Dubai Mall

On November 9th 2011, Vodafone McLaren Mercedes F1 driver and TAG Heuer brand ambassador Lewis Hamilton made a pit stop in the Swiss luxury brand’s boutique in Dubai Mall to launch their newest timepiece, the Carrera 1887. The celebration was graced by TAG Heuer local ambassador Mohammed Ben Sulayem, Osama Ibrahim Seddiqi representing Ahmed Seddiqi & Sons and Eric Vergnes, General Manager of TAG Heuer Middle East. Lewis Hamilton’s appearance coincided with an exciting milestone for TAG Heuer, as the brand is celebrating 150 Years of Mastering Speed. This was the first time that Lewis visited the brand’s best-performing boutique in the region, ahead of the Grand Prix in Abu Dhabi.

 

Jaeger-LeCoultre introduces the “Reverso Repetition Minutes a Rideau"

An iconic design with a captivating new interpretation and unparalleled inventiveness – all combined with the highest echelon of watchmaking: marking its 80th anniversary Jaeger-LeCoultre takes the magic of the Reverso watch to new dimensions with the Reverso Repetition Minute a Rideau. The Reverso Repetition Minutes a Rideau is the latest iteration, a minute repeater watch that is driven by an artfully executed Venetian blind covering the dial that upon being slid back activates the repeater mechanism which in turn sounds the given time counting hours, quarter hours and minutes by the sound of two gongs.

 

Zenith unveils Captain Winsor

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The line of Captain chronographs is now being enriched with a new horological complication. After the power reserve, the moon phases and the second time zone comes the turn of an ingenious complication, the annual calendar, which displays the date, the day of the week and the month while requiring just one annual adjustment. This mechanism is both simple and complex: for 31-day months, the date disc moves the month disc forward; for 30-day months, the month disc makes the 31 “jump”. Named Captain Winsor Annual Calendar, this timepiece marks the start of collaboration between the Musee International d’Horlogerie (MIH) and the Manufacture Zenith. The alliance between these two institutions has given rise to the most accurate series-produced caliber with a useful and innovative complication.

 

Edox launches the X-treme Pilot II Limited Edition

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The WRC watch collection is dedicated to rally drivers, those true virtuoses of the tarmac, snow and ice, and to all devotees of the automobile and motor-racing world. This new limited edition is sporty in style and masculine with a black carbon dial and powered by a mechanical chronograph movement that is sturdy, shock-resistant and extremely reliable. At once, as in motor racing, the over-sized electric red push-piece captures the attention. Designed for WRC drivers, the watch is in ultra-light titanium, coated in black PVD for a decidedly virile look. The X-treme Pilot II Limited Edition is limited to 200 exclusive pieces and comes in a personalized case. Edox is the official timing partner of the FIA World Rally Championship (WRC).

 

Salvatore Ferragamo’s F-80 Precious Stones Collection

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This autumn, Salvatore Ferragamo Timepieces has launched F-80 Precious Stones, a surprising new version of the F-80 line enhanced by coloured stones. Bold new watches that build on instinctive choices dictated by the brand’s DNA: experimenting with materials, dazzling colours, and the use of precious stones. The six models in the F-80 Precious Stones collection include three 44 mm chronographs made of titanium with ceramic detailing and decorated with rubies and blue or yellow sapphires, and three 33 mm time-only watches made of IP black steel and ceramic with rubies and blue or pink sapphires. The straps are crocodile-print soft calf (recalling the prestige leather of the brand’s shoes) or rubber, for a sportier and more informal look.

 

Hysek presents the new Furtif Arabesque

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HYSEK delights the feminine fraternity by presenting a new variation of its popular Furtif collection: Furtif Arabesque. Indeed, elegance reaches a refined level in HYSEK”S Furtif Arabesque with prominent Roman numerals displayed under the sapphire crystal glass on the case and enhanced further by a black guilloche dial displaying the 1, 5, 7, 11 index, distinctive to HYSEK identity. It has water resistance of 30m and is powered by a quartz movement with a frequency of 36,768 A/h. The light and ergonomic case, thanks to its mobile lugs, which are designed to perfectly fit the wrist is matched by a hand-sewn alligator leather strap, closed by a fold-over buckle exclusively developed by HYSEK Manufacture. 

 

REUGE is paying tribute to Claude Debussy

Reproducing all its traditional values of the cabinet work and art inlay as well as its musical knowhow, Reuge will present for Christmas a splendid music box celebrating the 150th anniversary of the composer Claude Debussy’s birth. Fruits of careful thoughts, the shape and the inlay of this piece are completely inspired by the style Art Nouveau, artistic trend prevailing from 1890 to 1910, period of the apogee of Debussy, himself an important amateur of Art. The tunes plate fixed inside the lid regains the original shape of the box to bring coherence to the unit. This limited and numbered edition of 99 pieces will play 3 melodies resulting from major works of Claude Debussy and especially developed in mechanical music for the occasion.

 
 

Exhibitions & Events

 

3rd Edition of Geneva Time Exhibition (GTE)

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A new visual identity… a new concept… a new venue... GTE’s third edition will see sweeping changes under the Fair's proud new banner: The Art of Making Time. GTE 2012 will confirm the Fair's key role in the prestige watch sector, with many top manufacturers taking part. All will be presenting their finest timepiece collections to professionals and connoisseurs of mechanical watches from Sunday 15 to Friday 20 January 2012 at new prestigious location: Espace Hippomene, 7 avenue de Chatelaine in Geneva. The Fair will host fifty brands, each exhibiting their latest watch collections to some 5000 visitors from over 80 countries. The Fair's total floor area will exceed 2500m2.

 
 
 
 

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