Excerpts from the interview with Antoine Pin, Watch Business Unit Managing Director, Bulgari during the LVMH Watch Week; LVMH posts record revenues for the year 2021

   
 
 

Interviews

 

Excerpts from the interview with Antoine Pin, Watch Business Unit Managing Director, Bulgari during the LVMH Watch Week

“It’s a matter of pride for us, the pride of doing things differently, the pride of learning and the pride of owning a technical heritage. Our job is to transmit this pride to other people and to inspire them.”

“The motto of our brand involves pushing the limits of what we can do and harmonizing two extraordinary craftsmanship that we are masters of.”

Excerpts from the interview with Antoine Pin, Watch Business Unit Managing Director, Bulgari during the LVMH Watch Week.

Dubai - AWJ Magazine:

“To delicately craft time rather than merely indicate it, to propel it into a dimension where its scope and significance are enhanced by a resolutely artisanal dimension”- Can you please elaborate more on the above statement - directions/philosophy of the brand?

In you have a chance to go through our Facebook channel, you will see plenty of short videos under the name “Crafting time”. It is fundamentally the backbone of resonance both as jewellery and an icon of luxury. Let us go back to the basics. We try to answer these questions. Why do we sell watches today? Why do we sell jewellery? What is behind it? Basically what lies behind is the genius of mankind. In celebration of our genius is the beauty of humanity. You know we offer jewellery and watches, where gifting is most important. Gifting reflects the beauty of feelings, and also the beauty of emotion. It marks the celebration of interpersonal relationships and all these elements are ways to celebrate ourselves as human beings. Let me also tell you about the talents of our creative director Fabrizio Buonamassa Stigliani. You should see his drawings, listen to those interviews and also hear our watchmakers talking about time. It takes like one year of their lifetime to craft one watch. I love an interview with one of our polishers in particular. When we made those interviews about crafting time, we interviewed and talked with lots of people other than the spokespersons of our company. As this polisher tells, every day is different and it is important to make the metal that we use a living material. Every new shape and every piece like the complex Octo Finissimo watch is a challenge to the capacity to play the gesture of putting the watch against the machine. It’s a matter of pride for us, the pride of doing things differently, the pride of learning and the pride of owning a technical heritage. Our job is to transmit this pride to other people and to inspire them. The product for us is the messenger as well as a statement of this knowhow. I will say this piece we are presenting today is a crime. I call it a crime for a different reason. We put together an extraordinary setting of diamonds, and an extraordinary dial with the most complicated watch. It’s a watch that took one year to be created by one of our master watchmakers. If you want to buy it you will have and collect it from our offices in Switzerland.  We will not bring it to you because we want our master watchmakers to give it to you in person. They don’t give you a product of their toil, they are giving you one year of their life. If you think about it, our master watchmakers start working on genuine watch pieces at an average age of 40. So they work for 20 to 25 years and will be creating probably 30 watches in their entire working life. Every one of those watches is a part of their life and there is a lot more in the product than the product itself. If we do not manage to convey this message we miss something very important. 

During the past years, Bulgari achieved several world records in Ultra-thin watchmaking. Can you explain more on the structure of the Piccolissimo mechanical movement calibre and its importance in developing the new Serpenti secret timepieces collection?

This calibre is quite important for multiple reasons. We are talking about 102 components in 12.5 mm and weighing just 1.3 grams. We talked a lot about Finissimo but fundamentally micro mechanism is more a matter of volume than just one dimension. So we worked on the third dimension. Here in Piccolissimo, we enter a new chapter of this journey through the landscape of micro mechanism and this time we are probably pioneering this dimension. I’m using probably because I’m aware of our competitors trying to challenge the smallest round calibre on the market today in the Swiss market. 

Did you face any challenges in combining the marvel of sound and precious gemstones in your new Octo Roma Emerald Grande Sonnerie? How did you overcome the effect of gemstones on the case of the watch to maintain the highest quality of sound?

It was a daunting challenge. We had to make the best of both worlds meet without any compromise. This is exactly where you must make decisions. On one hand this Octo Roma Tourbillon was clearly designed, particularly the titanium version, to optimize the performance from the sound perspective. We are talking about the fine art of jewellery complementing timekeeping, and it’s the ultimate expression of both the worlds. You remember that the motto of the brand involves pushing the limits of what we can do, and harmonizing two extraordinary craftsmanship that we are masters of. We have achieved true technical performance aimed at delivering the loudest sound with elegance and accuracy. They are precious masterpieces, a watch to be worn and on the other hand a legal size to optimize the mechanical performance. It is an interesting exercise that we did here with a watch where we try improving the realm of our knowhow. It’s in fact a case where you can see our technological superiority showcased,

The new Lvcea Intarsio collection reflected three-dimensional architectural dials crafted by Bulgari. What would this dial’s feature add to the beauty of the watch?

I’m going to show it to you because the video is even better than the picture and probably will express it better than I can with words. But what I can tell you is that for me this watch is one of the most important that we are presenting today. It reveals the art of crafting time at a much more affordable price. As for me there is no limit to creative capability and, believe me we can do crazy stuff, no doubt, and we will prove it to you in the near future. But when we want to present to people this aspect of entering the world of luxury for the younger generation, don’t get me wrong. This is not a cheap watch, but one that probably expresses the beauty of light better than anything else. It’s a watch for the night and day. 

Will Bulgari add another complication twist to the Lvcea collection in the future? 

At this stage we are working more on the jeweller’s craft in the watch. Piccolissimo is based on diverse aspects and you can see it looking at the smallest dimension of the watch. With the same play and bringing an exceptional calibre inside makes it a very interesting composition, although today Piccolissimo calibre is a bit expensive for a watch.

In 2020 we witnessed the successful return of the iconic Bulgari Aluminium. While in 2021 the new GMT complication movement was incorporated. Will this year witness more additions to this popular Bulgari watch?  

No, there will be no new calibre. There will be new interpretation though. We love the aluminium collection because it’s an amazing platform for collaboration to express Italian lifestyle and creativity. It’s an open platform. I’m talking about the Italian purity or Italian roots that is shared in particularly with this watch. This is a happy watch and we look for an inspiring integration reflecting our Italian identity, modernity and technicality in some ways. So there will be some variations and limited editions basically but no change in the calibre. The watch is best when it is focusing on its core identity and we don’t plan too much integration. We just bring a smart collaboration that conveys some interesting messages, otherwise we stick to the absolute icon in terms of the design.

How do you feel about the new genderless trend in the market? 

It’s not my job, neither the job of anyone in Bulgari, to decide who is going to wear our watches. It’s not my job either to tell the studio to bring a watch that is genderless and I would not do that because actually it would be a denial of humanity. Let me be clear; I’m not talking about denying people’s choices in a complex matter like this. What I’m saying is I don’t know how to design a genderless watch. I don’t know what it means. We at Bulgari hate to see any bias in our boutiques. We hate to see somebody deriding anyone coming to our boutique wearing a t-shirt because he or she thinks the person cannot afford to buy a Bulgari item. We hate racism and gender discrimination. I would not go again and follow trends that are not making sense in the wake of what we do. My point is about generosity and humanity. Humanity as Bulgari thinks is making sure that we respect every individual first and generosity in the same aspect. Respect means to us welcoming people the way they are and not judging them.

Sustainability and responsible sourcing are now common practice in our industry. How is Bulgari applying these steps?

I would like to say that Bulgari has been the biggest contributor to “Save the Children” Foundation, and I think we have contributed over 100 million dollars to save children. It is now 12 years that we are partnering with them, so our source engagement goes largely above and beyond. We are not following the trend; we were there before.  I am not saying we are perfect in any way. I’m saying that we have not waited for market intelligence experts or consultants to tell us to be concerned about a problem with social responsibility. We have done it largely on our own. Now there are plenty of initiatives that are blossoming all around and of course it improves the current situation overall. I can give you some facts just to update you on where we stand. We stay somewhere between the initiatives and the current trend and are also part of these people. We realize the gravity of the environmental problem, so we are with the moving trend. 99% of our gold as a watchmaker is recycled, and100 % percent of the gold as a jeweller is recycled. Our jewellery, watches and perfume businesses are now certified ISO 1401, which is the norm. The fact that we are driving our business along sustainability is obvious, by the initiative that ranges from consumables to plastic-free packaging, thus largely contributing to reduce carbon footprint and promote environmental conservation globally. At this stage, we have a dedicated team, people responsible to implement this idea. Where we are standing right now as a watchmaker is on the total commitment to environmental standards. Our initiatives are across a wide spectrum, covering analytics and KPI approach and our concern is not just so much about our own consumption of energy or complex consumables. It also extends across offering Bulgari quality at affordable cost to a wider segment and this is exactly where we are positioned today.

 
 
 

Market News

 

LVMH posts record revenues for the year 2021

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, recorded revenue of 64.2 billion euros in 2021, up 44% compared to 2020 and up 20% compared to 2019. Organic revenue growth was 36% compared to 2020 and 14% compared to 2019. The performance for the year confirms a return to strong growth momentum following the severe disruption to the first half of 2020 resulting from the global pandemic. The Group’s organic revenue growth of 22% in the fourth quarter compared to 2019 reflects the accelerated growth of its activities. Fashion & Leather Goods notably reached record levels over the period, recording organic revenue growth of 51% compared to 2019.  The Watches & Jewelry business group recorded revenue growth of 167% in 2021 compared to 2020 thanks to Tiffany, consolidated for the first time. Profit from recurring operations was almost six times higher than in 2020 and up 128% compared to 2019.

 

The physical-digital hybrid format of Watches and Wonders Geneva allows it to maintain its calendar

Eagerly awaited by both industry professionals and the general public, Watches and Wonders Geneva is stepping up preparations to keep this major watchmaking event on track. Its hybrid concept has been designed to adapt to the changing context by combining an actual physical salon, which respects health measures, with digital solutions that meet market expectations. It all kicks off on 30 March.
While the 38 exhibiting Maisons are not giving any secrets away as they wait for Watches and Wonders Geneva to unveil their new products, work is gathering pace in Geneva. While the set-up of the physical event will begin soon, the press, retailers and guests will have access to the private area of the watchesandwonders.com platform to plan their personalised programme. The press presentations, which have been entirely redesigned so that they can be followed either in-person or online, will focus on products. Also rich in new events, live broadcasts, discussion panels, exhibition, the week promises to be dense and exciting.

 
 

Company News

 

Boucheron’s new Histoire de Style - New Maharajahs

In 1928, Boucheron was commissioned the largest special order in the history of Place Vendôme. In 2022, Creative Director Claire Choisne pays homage to this treasure by creating the “New Maharajahs” Collection, writing a new page of Boucheron’s History of Style. For these New Maharajahs, the creative studio has highlighted designs referring to elements which symbolize ancestral India, such as the lotus flower, turban ornaments or wedding bracelets, but also for traditional techniques such as glyptics – which is the art of engraving stones. To give life to her creative and contemporary vision, Claire Choisne has made the radical choice of purity through white and transparency, effects of scale that she has naturally transposed both on men and on women.

 
 

Product Launch

 

Chopard unveils a paradise of exceptional stones for Paris Haute Couture Week

Chopard’s Co-President and Artistic Director Caroline Scheufele presents a selection of exceptional stones for the Paris Haute Couture Week. Sparkling tributes to the bounties of Nature that are a perpetual source of inspiration for Chopard, these peerlessly pure gems caught the eye of this consummate expert and nurtured her fertile imagination. Among these treasures, the Chopard Insofu Emerald stands out as the most spectacular stone of them all: a 6,225 ct rough emerald mined in Zambia and the object of a traceability and responsibility process that is simply unprecedented for a gem of this importance. Another remarkable stone – a 10.88 ct fancy intense pink diamond – reflects the passion for coloured diamonds harboured by the Maison’s creative soul. Finally, the collection includes a magnificent Toi & Moi ring composed of an exceptional 4.10 ct fancy intense blue diamond and a white diamond, both of the highest quality.

 

Audemars Piguet launches new generation Royal Oak “Jumbo” Extra-Thin for collection’s 50th Anniversary

To celebrate the Royal Oak’s 50th anniversary, Audemars Piguet has introduced the newest generation of 39 mm Royal Oak “Jumbo” Extra-Thin (ref. 16202), which houses the Manufacture’s new selfwinding extra-thin movement, Calibre 7121. The collection comprises four models in stainless steel, platinum, as well as 18-carat pink and yellow gold - materials that have played an instrumental role in transforming the Royal Oak into an iconic collection. The four timepieces are also fitted with the dedicated Royal Oak’s “50 years” oscillating weight matched to the hue of the case. With its refined contrasts, materials, colours and dial animations, the new “Jumbo” offering pays tribute to 50 years of Royal Oak design innovation.

 

Jacob & Co. introduces Bugatti Chiron Sapphire Crystal

Jacob & Co. together with Bugatti spent almost a year developing a unique timepiece that reproduces the visceral sensation of the iconic Bugatti 16-cylinder engine. What they ended up creating is the groundbreaking Bugatti Chiron Tourbillon. Everything in this timepiece is designed to honor the Chiron hyper sports car. The sleek tonneau-shaped case is inspired by the flowing lines of the Chiron. The movement powers the timing functions and a 60-second flying tourbillon. Most importantly inside the case is a fully operational recreation of the iconic Bugatti W16 engine, powered by the same movement. When the automation is activated, the "engine" comes to life with its 16 pistons pumping and two turbochargers spinning. The Bugatti Chiron Blue Sapphire Crystal goes one step further by creating a watch case made completely out of sapphire crystal. It is one of the top achievements in high watchmaking.

 

Zenith unveils its latest creations at LVMH Watch Week 2022

Starting the year at full throttle, Zenith has unveiled some of its latest creations at LVMH Digital Watch Week 2022 alongside LVMH Maisons Bulgari, Hublot and TAG Heuer. This year, the spotlight is back on the DEFY collection, the Zenith Manufacture’s platform for innovation and unprecedented expressions in the art of watchmaking. At the forefront is the new DEFY Skyline, a collection that builds upon the legacy of robustness and performance that has defined the line since the earliest Zenith “Defi” pocket watches of the early 20th century right through to its most recent references. Reinterpreting elements from the 1969 DEFY A3642 in a contemporary context and packed with the performance of the Manufacture’s latest generation of the El Primero movement, the DEFY Skyline is set to become a staple model for Zenith.

 

Introducing the new Academic "Bunyan Limited Edition" by Speake-Marin

Speake-Marin has introduced the new Academic "Bunyan Limited Edition", a 10-pieces limited edition, which has been exclusively designed for the Middle-East region. It has been strictly offered to a select group of collectors within the 10tenlabs® community. The edition celebrates Speake-Marin’s partnership with 10tenlabs® being its Middle-East official partner and retailer. The timepiece comes in a 38mm titanium case and powered by Speake-Marin’s In-House Calibre SMA-03. The Calibre SMA03 is part of the SMA movement family and introduces the first closed dial with small seconds at 1:30. This movement is particular due to the small seconds counter being positioned at 1:30 and its integrated micro-rotor. 

 

Linde Werdelin offers Sunset Pink Rubber Strap

Linde Werdelin has introduced yet another colour to their range of recycled rubber straps. The striking Sunset Pink rubber strap is actually a request from one of the brand's very good customers who asked to customise a watch to match his favourite bike (also pink obviously) but more about that in another story. With a palette of 11 different colours, the brand's collection of natural kautschuk/rubber straps are now all 30% recycled. While maintaining superior wearability, aesthetics, and durability, the brand has been able to include 30% recycled devulcanized rubber into each strap. The unique process has taken several years to develop and is a significant part of us striving to act more sustainably.

 

Philipp Plein presents the $keleton

Inspired by the $keleton sneakers collection, the timepiece combines the finest art of watchmaking with a futuristic design concept. Its sophisticated skeleton automatic movement is visible through the iconic $kullbones motif that stands out on the dial, giving immediate brand recognition. Brand identity is further confirmed by the PP logo on the $kull’s forehead and by the Philipp Plein logo printed at 12 o’clock on the inner part of the top ring. Punctuated by hexagonal screws, the top ring is enriched by a luxurious carbon fiber effect or a luminous setting of multicoloured baguette crystals, echoed in the indexes. The hexagonal shape returns in the hollows of the futuristic 3D-printed silicone strap.

 
 

Exhibitions & Events

 

Vicenzaoro will be back in spring in conjunction with T.Gold

On 30th December last, IEG - Italian Exhibition Group announced that, due to a worsening of the Covid infection situation throughout Europe, Vicenzaoro would be postponed to 17th – 21st March 2022. T.Gold was also rescheduled for the same dates. This decision was shared with all the relevant national trade associations (Federorafi, Confartigianato, CNA, AFEMO, Assocoral, Federpreziosi), Cibjo and community representatives. Counting on a progressive increase in vaccination coverage throughout the EU and the application of ad hoc measures for managing the peak in all countries, as of mid-March, Vicenza will once again be able to reopen its halls in total safety in accordance with the protocols (SAFE Business by IEG and GBAC Star) that were applied and successfully tested at the September 2020 and 2021 editions, as well as at all the events held at IEG’s various exhibition sites.

 
 
 
 

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