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Reporting live from Salon International de la Haute Horlogerie (SIHH) Geneve 2018
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Interviews
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Exclusive interview with Mr. Francois-Henry Bennahmias, CEO of Audemars Piguet
-“2017 has been a record year in the commercial history of Audemars Piguet”.
-“Middle East represents 11% of our global sales”.
-“Keep your eyes open for Audemars Piguet 2019”.
Audemars Piguet celebrates 25 years of the Royal Oak Offshore - what in your opinion, endears the Royal Oak Offshore to its aficionados? The spirit of that collection is what makes it so unique. The Royal Oak Offshore is bold and daring. Our clients relate to this and to the fact that it is a collection in constant evolution, constantly presenting new materials, new technical advances and new ways of pushing back the boundaries.
What is the brand’s Royal Oak Offshore “star” novelty for SIHH 2018? We have many but the main hero is our new Royal Oak Offshore Tourbillon Chronograph available in either stainless steel or 18-carat pink gold. Each model is a special edition limited to 50 pieces and the movement has been entirely re-imagined for the occasion. With its new architectural construction, the movement looks as if it were suspended from the bezel. The Royal Oak is fundamental for Audemars Piguet, but isn’t it risky to rely so heavily on a single model? Many brands wish they had an iconic model such as the Royal Oak however nobody said we would rely exclusively on this collection. Our other collections like the Millenary are getting stronger and you might want to keep your eyes open for 2019…we might see something new there. What are your expectations for SIHH 2018? We will keep focusing on our main objective: mastering the changes that are currently occurring within the watchmaking industry. The retail scenery is evolving very quickly, and not only through digital. Clients consume and communicate in many new ways. The younger generation looks at life through completely different lenses and we have to adapt, or even better anticipate. Gender divide is not as much of a given than it used to be when clients are looking for a new watch. 2018 will be another very interesting year: the best, but also the most challenging, is yet to come. What are Audemars Piguet’s strengths that define the brand’s continued successes? Our spirit of independence. We are one of the few brands that have been performing well within a difficult context last year. 2017 has been a record year in the commercial history of Audemars Piguet. All this is possible thanks to the long term approach of our family company which is not ruled by quarterly results. Instead we have the freedom to focus on long term development and work towards the next 150 years. How does your brand approach technology as part of the future of fine watch making? Technology is part of the present of watchmaking, not the future! Audemars Piguet has always been aware of this and our objective is to integrate it in the best possible way. It is work in constant progress. Audemars Piguet has a strong presence in the Middle East via its own subsidiary operation. How is the brand faring and what is the view on the growth potential for the region? The Middle East represents 11% of our global sales, which is higher compared to most other luxury watch brands. For us the region is a great think tank. We regularly present new products in preview to test the response of the clients and the press, especially for women’s collections. Clients there have a very interesting “watch” culture and we always learn something every time we visit the region. In your opinion, what essential elements of horlogerie should people look for when looking to buy a high quality timepiece? We are not here to dictate what people should focus on. We all have different taste and priorities. Quality is probably the number 1 common denominator when buying anything and it applies to both the movement and the aesthetics of a watch. However, my only advice when buying a watch is to follow your emotions. It is too personal an accessory for such a purchase to only be driven by reason.
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Market News
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The 28th edition of Salon International de la Haute Horlogerie opens today
Salon International de la Haute Horlogerie 2018 edition will officially open its doors later on today at the Geneva Palexpo and will run till the 19th instant. According to the organizers, this year’s edition will benefit from more open and connected features.
The first key new feature is that the reception areas that have been redesigned to facilitate access and improve security with the large entrance taking on a theatrical aura in terms of its sheer size and enhancing visitor flows, notably between the accreditations desk and the cloakroom. The News stand has also been revamped to enhance its visibility. Another significant new element is the brand-new “SIHH Live” area at the heart of the Salon. Designed like an actual TV set, it aims not only to provide a communication platform for brands with product presentations, debates and other events, but also to create content that will be available via SIHH communication channels.
The Show hosts now a total of 35 brands of which 12 of them participates for the first time. The participants are: A. Lange & Söhne, Audemars Piguet, Armin Strom, Bovet, Bulgari, Cartier, Chanel, Chopard, Christophe Claret, Chronométrie Ferdinand Berthoud, De Bethune, DeWitt, F.P. Journe, Girard-Perregaux, Greubel Forsey, Grönefeld, Hautlence, Hermès, H. Moser & Cie, HYT, IWC, Jaeger-LeCoultre, Kari Voutilainen, Laurent Ferrier, Louis Vuitton, MB&F, Montblanc, Officine Panerai, Parmigiani Fleurier, Piaget, Ressence, Richard Mille, Roger Dubuis, Romain Gauthier, RJ-Romain Jerome, Speake-Marin, Tag Heuer, Ulysse Nardin, Urwerk, Vacheron Constantin, Van Cleef & Arpels.
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Company News
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Richemont posts Jewelry sales up 11% in Q3 -2017 with a double digit increase in sales (up by 11%) in the Middle East and Africa.
Richemont has recently reported that jewelry division sales were up 11 percent at constant exchange rates and 5 percent at actual exchange rates in the third quarter ended December 31. Jewelry’s strong performance helped the company post growth in overall total sales of 7 percent at constant exchange rates and 1 percent at actual exchange rates. Sales in the Middle East and Africa were up 11 percent, benefitting from favorable currencies and the anticipation of the introduction of a value-added tax in the UAE, among other factors. Richemont said global retail sales maintained their strong momentum in the third quarter, recording a double-digit growth of 13 percent. In the nine-month period, Richemont said total sales were up 10 percent at constant exchange rates and 7 percent at actual exchange rates. Jewelry saw a 15 percent increase at current exchange rates and 11 percent at actual exchange rates for that period. Watches grew, too, by 5 percent at current rates and 2 percent at actual rates.
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A New Time Aeon Foundation Project
Under the aegis of the Time Aoen Foundation, Robert Greubel, Stephen Forsey, Felix Baumgartner and Martin Frei have chosen to support a new project by two young and talented watchmakers: Dominique Buser and Cyrano Devanthey. The new watch will be entirely crafted using the traditional, hand-made methods valued by the foundation’s members. The adventure is above all a human one, telling the story of a traditional craft passed down from master to apprentice for centuries. It is not a case of creating a watch in a historical style, but rather perpetuating a craft that, while rooted in the past, has proven itself to be entirely contemporary. Mechanical watchmaking is in fact a «living material» that never ceases to enrich and renew itself through the generations.
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Product Launch
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Vacheron Constantin presents its new FIFTYSIX® collection
The Maison is heralding a new chapter in its history with its FIFTYSIX® collection. FIFTYSIX®. A name and a date evoking an iconic model presented in 1956: the reference 6073. Through its typical design expressing the particularly abundant creativity displayed by Vacheron Constantin during that period, this timepiece is distinguished by its shapes – and notably its lugs, each representing a branch of the Maltese cross that has become an emblem of the Manufacture.
The originality of reference 6073, as indeed of all 1950s Vacheron Constantin models, also stems from the contrast between the classicism of its dial and the bold design of its case. A watch that already wove ties between respect for tradition and a taste for innovation.
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Lady Arpels Planétarium by Van Cleef & Arpels
On the occasion of the SIHH 2018, the Maison has drawn on new sources of wonder between Heaven and Earth to reflect its distinctive Poetry of Time®. Four years after unveiling the Midnight Planétarium™ watch, Van Cleef & Arpels is restyling this iconic creation, offering an original women’s edition to enrich the universe of Poetic Astronomy. Distinguished both by refined aesthetics and its automatic movement, developed exclusively for the Maison, the Lady Arpels Planétarium watch illustrates the Sun and the closest planets: Mercury, Venus and finally Earth, along with its natural satellite, the Moon. Each heavenly body moves at its actual speed, orbiting the dial in 88 days for Mercury, 224 days for Venus and 365 days for Earth. In a key innovation for this piece, the Moon itself rotates around the Earth in 29.5 days, performing a visible celestial ballet on the dial, day after day.
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A. Lange & Sohne presents 1815 “Homage to Walter Lange”
With an extraordinary one-of-a-kind timepiece, A. Lange & Sohne pays tribute to the individual who in 1990 brought precision watchmaking back to Glashutte. The combination of a stoppable sweep seconds hand, a black enamel dial and a steel case reflects the eminent heritage of the Saxon watchmaking dynasty. The 1815 “Homage to Walter Lange” with a black enamel dial and a steel case will be produced only once. This makes it as unique as the man whose name it bears. The classic dial, reduced to the essence, is complemented with a technical feature that warrants a further look: the jumping seconds hand. With this combination, it quite likely lives up to Walter Lange’s vision of a perfect watch.
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Greubel Forsey presents the first Nano Foudroyante EWT
For over ten years, Greubel Forsey’s EWT (Experimental Watch Technology) Laboratory has been working to push the boundaries of mechanical watchmaking and has had particular success in the domain of the Mechanical Nano project. Thanks to this totally new concept and following the recent application of patent No. EP 3220207 A1, Greubel Forsey is unveiling the first Nano Foudroyante EWT. Compared to a traditional foudroyant jumping seconds mechanism, the Greubel Forsey Nano Foudroyante EWT consumes 1,800 times less energy and occupies 96% less space. All of this research has made it possible to create a truly original and innovative foudroyant jumping seconds mechanism that makes best use of energy and available space in the movement of a mechanical timepiece.
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Montblanc TimeWalker Rally Timer Chronograph Limited Edition 100
Inspired by the famous Minerva Rally Timer stopwatch produced by Minerva in the 1960s and directly rooted in the spirit of racing, the Montblanc TimeWalker Rally Timer Chronograph Limited Edition 100 combines a unique aesthetic with a “reverse panda” dial and the renowned hand-crafted Manufacture monopusher chronograph calibre MB M16.29. This innovative timepiece offers different ways to appreciate the time with the possibility of transforming the wristwatch into a pocket watch or a dashboard clock. The wristwatch, with its brand-new brown Sfumato aged leather calf strap, can be easily converted into a pocket watch by simply folding the strap attachments under the case. The 50 mm case is crafted out of grade-two titanium and has been satin-finished and the middle section of the case has also been knurled and coated with black DLC. The case can be turned from 0 to 180 degrees (or from 3 to 9 o’clock) in both directions to allow perfect readability while driving.
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Parmigiani launches the new Kalpa
The Kalpa watch has been a symbol of Parmigiani Fleurier since its creation in 2001. The latest version carefully reinterprets the original design features, and each Kalpa is now fitted exclusively with shaped movements, developed in-house. Its hallmark features – the tonneau case, the teardrop lugs and the understated dial with Delta-shaped hands – are the result of careful consideration of ergonomics, proportions and optimal readability, and come together to form the perfect showcase for these new manufacture calibres. It’s a return to the company’s early days and the first tonneau movement created by founder Michel Parmigiani 20 years ago.
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