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Equal Measure: The modern chronographs of Patek Philippe

Celine Yap — Fri, 12 Jan 2024 09:00:58 +0000

Equal Measure: The modern chronographs of Patek Philippe

All of Patek Philippe’s modern era chronographs fall in two main categories, and they couldn’t be more different from each other.

Feature

By Celine Yap

Jan 12, 2024

Patek Philippe chronographs go a long way back. During the time when the company progressed into the wristwatch era, its first wrist-worn timekeeper introduced in 1923 was already a heavy hitter: a custom ordered split seconds chronograph known as No. 124 824. Thereafter, Patek Philippe began building a consistent portfolio of standard chronographs which have come to influence its modern-day references in more ways than one. Many of today’s best loved and most archetypal Patek Philippe chronographs such as the Refs. 5270, 5970, 5170 and 5930 are direct descendants of the historical references 1518, 130 and 1415 — to say nothing of watches like the legendary Patek Philippe “Tasti Tondi” Ref. 1463 which, in the words of Revolution founder Wei Koh, is simply “the most beautiful chronograph ever made,” and the exceptional Ref. 2499 considered by many to be one of the most remarkable wristwatches ever made by Patek Philippe.

Through the earlier chapters of this long and beautiful timeline, Patek Philippe worked with great chronograph manufactures such as Victorin Piguet, Valjoux and Lemania (later renamed Nouvelle Lemania). In particular, the Lemania caliber 2310 or CH 27-70 provided one of the most reliable bases on which Patek Philippe developed many of its most enduring chronograph references right up to this present moment, with caliber CHR 27-525 PS Q remaining steadfast to some of the manufacture’s split seconds chronograph references. Caliber 2310 was introduced by Lemania in the 1940s and entered Patek Philippe’s history books in the 1980s as CH 27-70, first seen in 1985 in the Ref. 3970 perpetual calendar chronograph and then in 1998 in the chronograph-only Ref. 5070. Measuring 12 lignes (27mm) with a height of 6.74mm, its compact proportions allowed Patek Philippe to further develop a split seconds chronograph off of it, presenting the results in 2007 through Ref. 5959 with caliber CHR 27-525 PS.

Caliber CH 29-535 PS 9 (top) powers many of Patek Philippe's present day chronographs such as Ref. 5172G

Yet much as the Lemania-based chronographs had met or even surpassed many of Patek Philippe’s rigorous demands and lofty ambitions with such timepieces, one dream remain unfulfilled for the manufacture: to be able to call these chronographs rightfully and unequivocally its own. Thus began in 2004 the research and development of an in-house manufactured integrated chronograph movement that would herald a bold new future for Patek Philippe — one that would also enable the manufacture to pursue ever more ambitious plans with its timekeepers. That movement, as all Patek Philippe aficionados know by now, is the caliber CH 29-535 PS.

The Classical Chronograph

Beginning from carte blanche, the manufacture took this opportunity to create the chronograph of its dreams. It considered every element of the movement, from the core structure and clutch configuration to the design of the wheels and optimal functionality of every single component. Further improvements were incorporated such as the introduction of the eccentric column wheel cap and a finger clutch lever to ensure smoother operation of the chronograph function. At the same time, it was eminently clear that this movement shall be Patek Philippe’s modern rendition of a classical manual wind column wheel chronograph, because the manufacture had already introduced its first fully proprietary chronograph self-winding movement caliber CH 28-520 in 2006 — but more on that later.

Caliber CH 29-535 PS stands apart from the Lemania caliber in a number of ways, primarily being updated to modern standards in performance and reliability. It has a 4 hertz oscillating frequency as opposed to 2.4Hz, and 65 hours of power reserve as opposed to 40 hours. It also proposed a precise jumping minute counter featuring a novel snail cam profile and an oversized spiral spring to provide power to the chronograph minute lever and, as mentioned earlier, debuted a new tooth profile for the chronograph wheel and the drive wheel that was aimed at eliminating the dreaded chronograph backlash. Taken altogether, Patek Philippe filed the following six new patents on the caliber CH 29-535 PS: optimized tooth profile, optimized synchronization of clutch lever and brake lever, precise adjustment of engagement depth at column wheel, slotted minute counter cam for precise jumping minute counter, self-setting hammers, and hammers pivoted between jewel bearings.

The self-winding caliber CH 28-520 has a vertical clutch configuration

After its much celebrated launch in 2009 with a surprising debut in the Ladies First Chronograph Ref. 7071, caliber CH 29-535 PS steadily made its way into Patek Philippe’s men’s collection and today powers the classical models 5172 and 5270, as well as 5470 which sprints on the high-speed monopusher version of the movement, caliber CH 29-535 PS 1/10, displaying elapsed time accurate to 1/10th of a second. Other variants of this caliber include the perpetual calendar chronograph CH 29-535 PS Q, split seconds chronograph CHR 29-535 PS, and perpetual calendar split seconds chronograph CHR 29-535 PS Q. Finally, it has to be mentioned that the caliber CH 29-535 PS is the first in the manufacture’s history to bear the Patek Philippe Seal, attesting to the quality and finesse of the movement according to factors defined by Patek Philippe and Patek Philippe alone.

The arrival of caliber CH 29-535 PS has indeed completed Patek Philippe’s immense offering of chronographs. But in no way should one take this to mean that the manufacture had not made any strides in this sector prior to its development — far from it. Shortly after the turn of the new millennium, and a few years before caliber CH 29-535 PS was revealed, Patek Philippe had already found an opportune moment to present its first officially in-house manufactured automatic chronograph movement, caliber CH 28-520, which was conceptualized and designed for the modern era.

The High Performance Chronograph

Introduced in 2006, caliber CH 28-520 was destined for a completely different path than the caliber 29-535 PS. It arrived at a point in Patek Philippe history when the manufacture was pushing ever harder the possibilities of modern watchmaking as it revealed the first results of its experimentation with silicon components. A year earlier, Patek Philippe had debuted the first silicon escape wheel for a Swiss lever escapement in its Advanced Research Ref. 5250 Annual Calendar. Together with the launch of caliber CH 28-520, the manufacture unveiled its then-new and highly revolutionary Spiromax silicon-based balance spring, and then in 2008, continued with the introduction of the Pulsomax escapement comprising a pallet fork and escape wheel, both of which are silicon-based.

Suffice to say, caliber CH 28-520 heralded a new dawn for Patek Philippe. Unlike the earlier Lemania-based CH 27-70 family of chronographs, it is utterly contemporary and incorporates all the necessary features of a high-performance and ultra robust chronograph movement. Automatic winding with a 21K gold central rotor allows it to be a suitable daily timepiece. The vertical clutch configuration with column wheel means you could use the chronograph hand as a running seconds hand with negligible impact on amplitude. The 30mm diameter at a height of 5.3mm allows it to be highly compatible with additional stack-on modules. A slightly increased power reserve of between 50 to 55 hours allows wearers to leave it over the weekend without requiring time setting on Monday. The 4 hertz or 28,800vph frequency provides higher resistance to micro-shock, while the flyback function makes timekeeping extra convenient. It also combines the Spiromax hairspring with a Gyromax balance which instantly establishes caliber CH 28-520 as one of the industry’s most future forward movements in the new millennium.

On top of these technical improvements, caliber CH 28-520 also proposed a completely new method of displaying elapsed time. Instead of the standard chronograph subdials for the small seconds, 30-minute counter and 12-hour counter, this movement packs both the minute and the hour totalizers within one off-centered circular display at six o’clock. Two small co-axially mounted hands provide readings of elapsed time, while the chronograph seconds hand is centrally mounted, co-axial with the hour and minute hands, springing to action once the pusher is activated. Additionally, there is a day/night indicator discreetly contained within this display, increasing the overall functionality of the timepiece. Caliber CH 28-520 first appeared in the Ref. 5960 and the movement reference for this model is the caliber CH 28-520 IRM QA 24H, where IRM refers to indicateur réserve de marche and QA, quantième annuel, which tells us that the three apertures arching across the dial self-adjusts at the end of every month except on February 29, making this a later version of Patek’s annual calendar chronograph.

Caliber CH 28-520 is also found in the Nautilus and Aquanaut chronograph models 5980 and 5968, albeit as a simplified version without the complete annual calendar display and a pared-down chronograph display showing only elapsed minutes, and the date. The movement references for these models are the calibers CH 28-520 C/522 and CH 28-520 C/528 respectively for the Nautilus and the Aquanaut, with the base caliber CH 28-520 found in the Aquanaut Luce Ref. 7968/300R-001.

Without an annual calendar module, caliber CH 28-520 C has an overall height of 6.63mm and this remains relatively slim for a chronograph movement, which brings us back to Patek Philippe’s original intention to design the movement such that it could accommodate a variety of complications while retaining a slim profile. To date, the manufacture has also paired it with a dual time function with day/night indication, as shown with caliber CH 28-520 C FUS where FUS refers to fuseau horaire. This movement is used in the Nautilus and Calatrava Pilot Travel Time collections’ Refs. 5924 and 5990. Along with dual time, Patek Philippe has also equipped the movement with the world time complication — a collector’s favorite for sure — in calibers CH 28-520 HU/524 and CH 28-520 HU/530, where HU refers to heure universelle.

With the classical construction of caliber CH 29-535 PS and the technical superiority of caliber CH 28-520 C, Patek Philippe continues its chronograph story by merging two highly distinctive yet ultimately equal objects of measuring time.

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DE RIJKE & CO.

Limited Edition

REVOLUTION x De Rijke & Co. Miffy Double Moonphase “Black & Pink”

$3,680.00

TECH SPECS

Movement	Self-winding Sellita caliber SW 288-1; 38-hour power reserve
Functions	Hours, minutes, seconds and double hemisphere moonphase
Case	38mm; stainless steel; water resistant to 100m
Dial	Pink and dark grey dial; translucent sapphire; Super-LumiNova coated hour markers and moonphase
Strap	Grey calf leather strap; stainless steel tang buckle and quick release system
Limited Edition	100

The post Equal Measure: The modern chronographs of Patek Philippe appeared first on Revolution Watch.

Running an Ice Marathon in Antarctica? This Is the Watch You Need

Zen Love — Mon, 08 Jan 2024 13:00:52 +0000

Running an Ice Marathon in Antarctica? This Is the Watch You Need

We spoke to two extreme athletes just returned from testing Montblanc’s newest watch in some of the world’s harshest conditions.

Interviews

By Zen Love

Jan 8, 2024

What’s it like to run a marathon in Antarctica? Is that even a thing? It’s hard to imagine, but you can do it if you want to. But “you have to really, really want to,” says alpinist Simon Messner who recently participated in the Antarctic Ice Marathon together with watch brand executive Laurent Lecamp.

People have many reasons for undertaking such extreme endeavors. For Messner and Lecamp, one of those was to test and call attention to Montblanc’s rugged world time watch made expressly for mountain climbing and extreme cold, the 1858 Geosphere Zero Oxygen. It’s the latest iteration of a concept Montblanc pioneered: a watch with a case completely free of oxygen.

Why does a watch need to be oxygen-free? It means you won’t find the crystal fogging up with moisture in the frighteningly frigid conditions of mountains or glaciers. It’s an issue which adventurers such as Messner and Lecamp can attest to.

Neither Messner nor Lecamp is any stranger to cold or extreme sports. Simon is the son of legendary mountaineer Reinhold Messner and an accomplished alpinist in his own right, as well as a Montblanc brand ambassador. He’d never run a marathon before. Laurent Lecamp, on the other hand, is an experienced marathon runner and the Global Managing Director of Montblanc’s Watch Division. It’s worth noting that not every watch executive accompanies brand ambassadors on the likes of grueling arctic adventures.

The Montblanc 1858 Geosphere Zero Oxygen South Pole Exploration LE watch on the wrist of Simon Messner while in Antarctica (Image: Montblanc)
Laurent Lecamp (left) and Simon Messner at the Classic Car Club Manhattan speaking about having just returned from the Antartic Ice Marathon (Image: Troy Barmore)

Other versions of Montblanc’s watch have been worn by famous mountaineers. This limited edition is specifically dedicated to Reinhold Messner’s 2,800 kilometer crossing of the Antarctic continent in 1989-1990 (the year Simon was born) on foot and with only minimal equipment. It features a pale-blue dial color based on the glaciers Messner and Lecamp would’ve jogged past during the marathon and a caseback depicting the Southern Lights—which they didn’t have a chance to see since the sun didn’t set for their entire trip.

Only a couple of days after having completed the race (they came in seventh—together—among around 80 participants) Messner and Lecamp landed in New York City. We had a chance to sit down with them for an interview as well as a fireside chat with collectors at the Classic Car Club Manhattan.

With muscles still sore and skin still a little wind-burnt, they were able to confirm that the watch’s dial did indeed pair well chromatically with the glacial ice and that it remained perfectly fog-free. They also shared insights about life, mountain climbing and reflected on what it’s actually like to run a marathon in Antarctica. Here are the highlights of our broad-ranging chat.

The following interview has been edited for length and clarity

The Antarctic Ice Marathon is a standard 42.195 kilometers (26.219 miles) but facing katabatic winds and temperatures of around -30 degrees Celcius (-22 Fahrenheit). (Image: Montblanc)

Can anyone run an ice marathon? What does it take?

Simon Messner: You have to train a lot. For me, it was the first marathon I ever ran so I was not sure what to expect. It was quite tough. I would say that not everybody could do this. You have to really want to. I’m coming from mountaineering and it’s the same rule: you have to really, really want to do it, and I think it’s the same for this marathon.

Laurent Lecamp: For me, it’s all mental. I would say that if someone wants to do it, he can do it if he or she is willing to train regularly, three or four times a week. It’s just a question of time. If you’re willing to give up a lot of things to reach your goal, it’s possible. An example: we saw a guy who was 81 years old, and he was running the half-marathon. In the end, it means that everything is possible, but you have to train. So yes, it’s possible. For people who say it’s only for the elite, only for a few people—forget it, that’s not true.

Adding to the environment's already extreme cold are katabatic winds—strong, downhill winds in Antarctica flowing from the polar plateau. (Image: Montblanc)
The Texture of the 1858 Geosphere Zero Oxygen is based on a picture taken by Laurent Lecamp of the glacial ice on Mont Blanc and produced by an old technique called gratte boise; this variant's dial color is based on that of Antarctic glaciers. (Image: Montblanc)

What was it like getting to Antarctica? What was it like to be there?

Messner: We were flying along the coast, and it’s never-ending. It’s hard to explain, but you need hours, and it’s just ice, ice, ice, 4 kilometers thick. My brain cannot understand this.

Lecamp: You just have to imagine when you land. The place we went was extremely windy, and all the snow was blown away and we could see the ice. And I was observing this from the plane and the pilot said “landing,” and I said “no, he will not do it.” The plane was a [Boeing] 757-200, so a huge one, and it was landing on the ice. For me it was “merde, how is this possible?” And this is where the experience started.

Everybody was at the window observing what was happening. It was 20 degrees [Celcius] inside and then you go out and it’s -30 degrees. Then you go back to the camp where we discovered our tent where we slept for three nights, or tried to sleep.

Among around 80 participants, Messner and Lecamp finished the 2023 Antarctic Ice Marathon together in 7th place. (Image: Montblanc)

So, the day comes and you start running. What was underfoot? Ice? Snow? What was the marathon itself like?

Lecamp: It’s a glacier. If you remove the snow you see the glacier. It was hard to predict the next step. You have to pay attention and you always have to focus on what’s in front of you. It’s completely different from a normal marathon.

Simon said, it’s not 42 kilometers, and he’s right. I run normal marathons which are 42 kilometers, but here the feeling was 55 or 60 kilometers. It’s different because you have snow, it’s slippery, you have strong winds, it’s extremely cold, feeling like -30. So when it’s -30 and you have the wind in front of you and all the snow and all the ice just below, one step is not like one step in a regular marathon.

Messner: I’ve always run as part of my mountaineering preparation, but always uphill. It’s not difficult anymore. But starting to run longer distances, in the snow in the rain, to figure out how it works—it was very tough. I could do this walking with a heavy bag, but running was another game. It started becoming interesting after 30 kilometers.

What was the toughest part? Was there a time that you wanted to give up?

Lecamp: The last kilometers were a huge pain. I’m used to running on snow and ice, so the first 30 kilometers was no issue at all. But frankly speaking, during the last kilometers I had this issue here [indicates inner thigh] and at every step as I was running I could feel the contraction on my face. I don’t know what happened that time, but when you’re on the snow and the ice you’re not stable, and I had this pain.

So that was difficult because you say “will I be able to make it to the end?” We said we should finish because we have the watch, and everybody will ask. We have the interview, so what can we say if we don’t manage it [laughs]? And it’s once in a lifetime, so giving up wasn’t an option.

Laurent Lecamp is unusual among watch brand executives for accompanying extreme athletes like Simon Messner to test watches in extreme conditions. (Image: Troy Barmore)
Even in -30 degrees Celcius, the 1858 Geosphere Zero Oxygen remained fog-free for legibility and appreciating its ice-inspired dial. (Image: Montblanc)

Was there anything you weren’t expecting or weren’t prepared for?

Lecamp: If you want to pee, you cannot. In Antarctica, it’s forbidden. That’s something we didn’t know about. Every five kilometers you have a checkpoint with toilets, but they say in between it’s impossible to pee. They say that if you do it, they have to cut the ice and everything around it to remove it because it has to be pure. Otherwise it’ll be there for the next 100 years.

We thought it was a joke but it was not, they repeated it many, many times. So that’s a stress because, you know, you pass a checkpoint and after two kilometers you have to wait three kilometers. And in the cold, it’s not the same. Imagine you have to go to the toilet, but I say “ok, first you have to walk four kilometers.”

Messner: It’s summer there so it was, for three days, always day. This is something I wasn’t expecting.

Lecamp: Yes. Because the tent is heated by the sun, it’s completely light inside. For us, it was like lying on the beach under the sun all day long and all night long. So I remember the first night: you don’t sleep. You have the excitement, you have the sunlight, you have jetlag. One night, Simon said “did you hear that?” It was the opening of a crevice which is very typical in the mountains. So then I couldn’t sleep at all.

The Montblanc 1858 Geosphere Zero Oxygen features an oxygen free case in tribute to Reinhold Messner's historic mountain ascents without the use of supplemental oxygen. The first watch to feature an oxygen-free case means much slower aging of the components and oils as well as avoiding condensation inside the crystal in freezing temperatures. (Image: Montblanc)

Did the watch perform as expected?

Lecamp: We received so many questions from runners. Runners were asking a lot of questions about the watch. They said “why do you have a mechanical watch?” And we explained it to them. One of them had a mechanical watch and he had some drops [condensation] inside and he could not see [the time]. Because in the tent it was 15 degrees and it was -30 outside. So the 45 degree difference makes the humidity inside the watch [condensate on the glass]. But it doesn’t happen with our watches because there is zero oxygen inside.

Why zero oxygen? Because we were inspired by Reinhold Messner who was the first to climb the highest peaks in the world with no supplemental oxygen. And Simon, every time he climbs, he never uses oxygen.

Did you see the kind of glacial ice which inspired the dial of this 1858 Geosphere watch?

Lecamp: On the other side of here [indicating on a photograph], we saw a huge glacier with a specific blue, and the blue of the glacier was the same as the dial. For the dial, we were working with the team to create the same color as the glacier from Antarctica, and we created this. So it means that you have the real color of the glacier.

And one dial requires 30 days to be produced. Gratte boisse is the process we’re using to create this dial. It’s an old process from the 19th century, it’s made by hand. The thickness is 0.4mm, but we can create the depths of the glacier thanks to this technique. And it seems we are the last ones in Switzerland using it.

Though advised against it, Messner and Lecamp insisted on racing together and were the first ever to complete the Antarctic Ice Marathon as a team. (Image: Montblanc)

You climb mountains. You run ice marathons. Why? Is climbing fun? Is there pleasure in the experience?

Messner: There is not. The first marathon is the same. There’s not pleasure, there’s not joy. That comes afterwards. [At the top?] Mmm, no. The last successful expeditions I did, at the top you’re just totally exhausted. You just feel lucky that you don’t have to go further. The joy, if it’s there, comes afterwards, maybe weeks afterwards.

Does the joy of mountain climbing come from the sense of achievement? From satisfaction or bragging rights? Or is it something else?

Messner: Every young climber thinks doing a bivouac would be amazing, sleeping up there in the mountains. At some point, there comes the time where you have to do it and you’re not prepared. You will not sleep a second, it’s very cold, you’re sitting there just shivering. Again, it’s not fun. But afterwards you know exactly what it means to have a simple bed or just a warm place. If you’ve ever been really thirsty, a simple glass of water is the best thing.

Simon (left) with his father Reinhold Messner. (Image: reinhold-messner.de)

You had a fear of heights as a child. How did you go from vertigo to climbing mountains?

Messner: Mountaineering, as you can imagine, was totally normal for us, me and my two sisters. At some point I just wanted to experience it for myself. So I went for my first time alone, and I noticed I had this very strong vertigo. It started two meters off the ground. And this was something I could not accept for myself, so I wanted to know where this fear is coming from and why I’m not able to handle this. It was more the question of where the fear is coming from than the climbing itself which motivated me.

Did your father encourage you to follow in his footsteps or give you any advice that you particularly remember?

Messner: My father always said “I don’t like that you climb. You are free, you can do what you want. But I’ll give you one piece of advice: if you climb, never fall.” It’s very simple. You have to distinguish the sport of climbing from alpinism. In alpine climbing, it sounds very simple, but it’s an old rule: you’re not allowed to fall. If you do fall once, maybe you survive. Two times, maybe. But the third time, maybe not.

Simon Messner speaks with watch collectors at the Classic Car Club Manhattan about mountaineering, the Alpinist mindset and more following completion of the Antarctic Ice Marathon. (Image: Troy Barmore)

Mountain climbing is dangerous. Is that a good thing?

Messner: When I was young I always knew that you can die. It’s possible, but it was ok for me. But if you’re in this field for many years, and I’ve been climbing for 16 or 17 years, you lose a lot of friends and a lot of people you know. So you start thinking. And I think that the highest art is knowing when to stop, so I keep this in mind. If you follow the highest[-level] climbers in the world, they will not get old. This is a fact.

I once interviewed Reinhold Messner, your father, and he told me that his is “the art of reduction, reduction, reduction.” Is this your approach, to eschew equipment and technology?

Messner: It’s the mindset of alpine-style climbing. You don’t use fixed ropes, no help from porters, no artificial oxygen. For me, it’s very important what the climbing society thinks of a climber. It’s much more important than what all the other people think. The greatest, “most difficult climb” is done with the least equipment, so just your strength and your mind.

It’s very simple thinking. It’s about using less technology because you see here in New York what is possible with all the technology. So in mountaineering if you use all this, at some point we don’t need to invest our energy anymore or our skills. This mindset is still present in the Dolomites where I was raised as a climber. It’s a very old tradition. So, we are not swimmers in the Alps.

What would be the perfect soundtrack for running the Antarctic Ice Marathon?

Lecamp: The ERA songs “Ameno” or “If You Shout.”

Learn more about the Montblanc 1858 Geosphere Zero Oxygen South Pole Exploration Limited Edition here

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Sold Out

Atelier Wen

Limited Edition

Atelier Wen X Revolution Perception - XI

$3,400.00

TECH SPECS

Movement	Self-winding extra thin Dandong caliber SL1588; 41-hour power reserve
Functions	Hours, minutes and seconds
Case	40mm; grade 5 titanium; water resistant to 100m
Dial	Red guilloché with "Sunmao" structure; rhodium plated applied indexes
Strap	Titanium bracelet and white colored rubber strap
Limited Edition	Limited and numbered edition of 100 pieces

The post Running an Ice Marathon in Antarctica? This Is the Watch You Need appeared first on Revolution Watch.

The Ultimate eBay Watch Shopping Guide: Gift Ideas for Everyone You Know

Bhanu Chopra — Fri, 15 Dec 2023 22:30:30 +0000

The Ultimate eBay Watch Shopping Guide: Gift Ideas for Everyone You Know

Auctions

By Bhanu Chopra

Dec 16, 2023

When the holiday season rolls around, it can often be a challenge to find the perfect gift for everyone on your list. However, fear not, because we have curated The Ultimate eBay Watch Gift Guide for all those special individuals in your life. Whether they are trendsetters, jetsetters, understated minimalists, adventurous spirits, environmentally conscious, or avid Formula 1 fans, we have got you covered with our hand-picked selection of timepieces.

Choosing the right watch for everyone on your list requires careful consideration of their personal style, interests, and values – and with eBay’s depth and breadth of inventory, you can find any watch you are looking for, including the watches you otherwise may have to wait months or years on the waiting list to get. We selected our favorites for The Ultimate eBay Watch Gift Guide, all available on the marketplace and backed by the Authenticity Guarantee service.

Watch for the Trendsetter

For those seeking to impress a trendsetter with a keen sense of chic style, you needn’t look any further. This year’s gift guide recommends the iconic Cartier Baignoire Watch, a timepiece that effortlessly embodies trendsetter chic.

Since its inception in 1912, the Baignoire collection has been a testament to Cartier’s innovative instincts, constantly reinventing its aesthetic while preserving its distinctive oval shape. The splendid melding of avant-garde design with enduring elegance makes the Baignoire watch a grand example of trendsetter chic. Every element of its design, from the sophisticated gold casing, diamond-encrusted bezel, its sapphire cabochon winding mechanism, to the opulent bracelet, emanates a distinct sense of luxury and exclusivity.

The Baignoire offers not just a beautiful presentation, but also a high-quality mechanism that is a testament to Cartier’s technical mastery. The watch features a manually wound mechanical movement, ensuring accuracy and reliability with a touch of classic charm.

Baignoire watch is a must-have for any trendsetter aspiring to make a bold statement. Shop for the fashionable Baignoire on eBay.

Watch for the Jetsetter

When searching for a gift that will truly impress the jetsetter in your life, the IWC Pilot’s Chronograph is an exceptional choice. Its combination of style, functionality, and durability makes it the perfect companion for their worldly pursuits.

What sets the IWC Pilot’s Chronograph apart is its timeless design that pays homage to the brand’s rich aviation heritage. The bold and masculine aesthetic, featuring a sleek stainless steel case and a distinct black dial, exudes a sense of adventure and confidence. The large luminescent hands and markers further enhance readability, ensuring that the time can be effortlessly read even during night flights or dimly lit hotel rooms.

Furthermore, the IWC Pilot’s Chronograph boasts impressive technical features that cater to the needs of frequent travelers. Its chronograph function allows for precise timing of events, making it an indispensable tool for those constantly on the go.

Whether they are navigating the bustling streets of a foreign city or soaring through the skies, this classic chronograph style is designed to withstand the demands of the modern traveler. Shop for IWC Pilot’s Chronograph available in several variations on eBay.

Watch for Understated Minimalist

When it comes to selecting a gift for someone with a refined taste and a penchant for understated elegance, there is one timepiece that effortlessly embodies these qualities: the Rolex Oyster Perpetual. Renowned for its timeless design and impeccable craftsmanship, this iconic watch has become a symbol of prestige and sophistication in the world of horology.

The Oyster Perpetual collection from Rolex represents the essence of minimalism, combining simplicity with unparalleled performance. Its clean and uncluttered dial, adorned only with the iconic Rolex crown and hour markers, exudes an aura of understated luxury that is sure to captivate the discerning eye. The case, made from a solid block of 904L stainless steel, ensures that the timepiece remains resistant to corrosion and maintains its lustrous appearance over time. The Oyster bracelet, featuring Rolex’s patented Oysterlock clasp, provides comfort and security with its robust construction.

The Rolex Oyster Perpetual watch has become a hallmark of taste and refinement for both men and women. Its versatility allows it to seamlessly transition from a formal business environment to a casual social gathering. Whether it’s paired with a tailored suit or a simple blouse, the Oyster Perpetual watch effortlessly enhances any ensemble.

With the Rolex Oyster Perpetual, you are not only gifting a remarkable timepiece but also a symbol of elegance and sophistication that will be cherished for a lifetime. Shop for vintage and modern Rolex Oyster Perpetual watches on eBay.

Watch for Adventurous Spirit

Omega Seamaster Aqua Terra 150M will undoubtedly leave a lasting impression on any adventurer fortunate enough to receive it. Shop for this allrounder sports watch on eBay.

If you are in search of a remarkable gift for an avid adventurer in your life, the ultimate gift guide recommends the Omega Seamaster Aqua Terra 150M. Crafted with utmost precision and designed to withstand even the most demanding environments, this watch is the perfect companion for those who seek thrill and exploration.

As the name implies, Aqua (water) and Terra (earth), this watch is ready for any type of adventure. Omega Aqua Terra 150M offers an impressive water resistance of up to 150 meters (500 feet), making it the perfect companion for diving expeditions and underwater adventures. The sleek dial, available in various captivating colors, features polished hour markers and luminous hands, ensuring optimal readability in any light condition. The date window, unobtrusively placed at the 6 o’clock position, adds a practical touch to this masterpiece.

Equipped with a highly accurate Master Chronometer caliber 8900, certified at the industry’s highest standard by the Swiss Federal Institute of Metrology (METAS). The watch’s precision and reliability are further enhanced by its exceptional anti-magnetic properties, a feature that protects its movement from the harmful effects of magnetic fields.

Omega Seamaster Aqua Terra 150M will undoubtedly leave a lasting impression on any adventurer fortunate enough to receive it. Shop for this allrounder sports watch on eBay.

Watch for the Environmentally Conscious

The Swatch Bioceramic Scuba Fifty Fathoms watch is the perfect gift for those who are environmentally conscious. Swatch pays a playful homage to Blancpain’s iconic professional dive watch, the Fifty Fathoms.

The Bioceramic case and NATO strap created from recycled fishing nets, sets it apart from other affordable watches on the market, offering a unique and environmentally friendly material that is both lightweight and good for nature. There are five different models dedicated to five oceans of the world, each with a unique color scheme.

Swatch Bioceramic Scuba Fifty Fathoms timepiece is equipped with the remarkable Swatch Sistem 51. This superior mechanical movement system is characterized by its automatic winding technology, ensuring precision and reliability. One of the defining attributes of the Sistem51 is its impressive 90-hour power reserve, providing more than ample energy storage to see you through the weekend and beyond. Furthermore, every model in the Swatch Fifty Fathoms collection is designed with a bezel that exhibits luminescent numerals, enhancing visibility in low-light conditions.

Swatch Bioceramic Scuba Fifty Fathoms watch is an excellent gift choice for those who appreciate style, functionality, and environmental consciousness. Shop all five models on eBay.

Watch for the Formula 1 Fan

Introducing the must-have timepiece for any Formula 1 enthusiast – the Tag Heuer Formula 1 watch. Infused with the spirit of the racetrack, this extraordinary timepiece combines precision engineering with a sleek design to capture the essence of the world’s most exhilarating motorsport.

The sleek black ceramic elapsed timing bezel adds a touch of sportiness, mirroring the adrenaline-fueled world of Formula 1 racing. The stainless steel case, complemented by a steel and ceramic bracelet, exudes a timeless appeal that will undoubtedly impress any racing enthusiast.

The Formula 1 watch features striking grey sunray brushed dial, adorned with silver-toned luminous hands and hour markers. Equipped with a Swiss-made automatic movement, this timepiece ensures accurate timekeeping, allowing the wearer to always stay on track.

Give the gift of style and functionality to the Formula 1 enthusiast in your life with this exceptional Tag Heuer watch. Shop for this model and similar Formula 1 models on eBay.

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FEATURED FROM THE SHOP

Furlan Marri

Limited Edition

Furlan Marri x Auro x Revo - Flyback Chronographs 3188-A ‘Salmon Flyback

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Movement	Manual winding Sellita caliber AMT5100, with rose gold plating and custom bridge for Furlan Marri; 58-hour power reserve; heated blued steel screws
Functions	Hours, minutes, small seconds and flyback chronograph
Case	38mm (46mm from lug to lug); stainless steel with olive-shaped pushers for Honey Blue flyback, Taupe flyback and Tasti Tondi pushers for Salmon flyback; water resistant to 50m
Dial	Taupe, blue, or two-tone salmon and black (Revolution edition); double printed text with pulsations scale, polished applied indexes
Strap	Italian leather with quick release system
Limited Edition	270 pieces per reference + 30 collector boxes (including one of each references) in addition.

The post The Ultimate eBay Watch Shopping Guide: Gift Ideas for Everyone You Know appeared first on Revolution Watch.

The Revolution Success Index

Oliver R Müller — Fri, 15 Dec 2023 10:00:56 +0000

The Revolution Success Index

Based on the 2023 Morgan Stanley × LuxeConsult report, these are the 20 most successful individuals, groups and families in the luxury watchmaking industry. While a key part of the metric used to determine their success has to do with their accumulated wealth, beyond that, each of these individuals, groups or families has made a major contribution to the industry. Indeed, one could say that the Swiss watch industry is built on the shoulders of their leadership, innovation and brilliance.

News

By Oliver R Müller

Dec 15, 2023

The simple definition for success is the accomplishment of an aim or a purpose. What unites all of the brands, families, groups and individuals featured in these pages is that they have had the audacity to dream big and the temerity, resilience, courage and capability to execute their goals.

One example is Jean Arnault who just two years ago had set out to completely change the world’s perception of Louis Vuitton watches and, through his bold relaunch of the Tambour and championing of independent watchmaking, has completely transformed the way we see Louis Vuitton today. As another example, it would be fair to say that this is the year we truly see the brilliance of Jean-Frédéric Dufour’s leadership at Rolex: first with the acquisition of Bucherer and Rolex’s first entry into retail; second, through the global elevation of Rolex watches in terms of quality, beauty and design; third, in the proliferation of the Rolex Certifed Pre-Owned (CPO) program; and fourth, in his elevation of Tudor to be the market leader in the luxury tool watch category.

Even though François-Henry Bennahmias is leaving Audemars Piguet, his legacy in transforming this brand from a CHF 630 million a year business in 2012, to a CHF 2.01 billion a year juggernaut (with a 2023 estimate of CHF 2.4 billion) is extraordinary. And though he works decidedly behind the scenes, Omega’s Raynald Aeschlimann, who is growing in his job scope at the Swatch Group, continues to be one of the most impressive leaders on the market.

Richemont Group’s three brilliant CEOs, Cyrille Vigneron of Cartier, Nicolas Bos of Van Cleef & Arpels and Louis Ferla of Vacheron Constantin (his brand is estimated to pass the CHF 1 billion mark this year), bring dynamism to their brands in a massive way. Among the family-run watch brands, Richard Mille has now firmly assured his succession plan with his very capable and incredibly dedicated son Alexandre Mille in place as brand director.

Patek Philippe’s Thierry Stern continues to bring his brand from strength to strength even while grooming the next generation of Stern leadership. Finally, we also see a generational change beginning in Chopard with Caroline-Marie now working on product development with her father Karl-Friedrich, and her brother Karl-Fritz who is already responsible for the brand’s successful Alpine Eagle model is not long off from joining her.

What are the key takeaways over the last decade? The growth of the watch industry has been mainly driven by the high-end brands.

The polarization of the industry with just a few brands producing high-value watches and fostered by strong brand equity, such as Rolex, Patek Philippe, Audemars Piguet and Richard Mille, is reflecting the overall trend of the luxury industry, which is moving upwards in all product categories. One very distinctive difference of the watch industry compared with all other luxury product categories is that the privately owned brands are performing far better than the ones owned by listed luxury groups, albeit with one remarkable exception which is Hermès, even though the brand shares more characteristics of a family-owned company than a listed company with only 32.3 percent free float traded shares, but foremost a long-term view on the business.

With this ranking, we are aiming to establish a top 20 success index of the owners of watch brands. The watch world being a very secretive industry, we base our estimates on trusted sources such as the yearly Morgan Stanley report on the luxury watch industry that I’m co-writing.

The estimated wealth of the following 20 individuals, families, trusts, private or listed companies are based on their overall assets. Methodology is based on the estimated value of the market price — in the case of a listed brand or group — or the estimated value, which is a multiple of the estimated sales and EBITDA (the operational gross margin before taxes, depreciations and amortizations) on which I added the brand equity/goodwill.

I also indicated the estimated retail market share of the Swiss-made or Swiss-owned watch industry to give an idea of how important the watch business is for each person or institution mentioned. These values (in CHF) were taken from the annual Morgan Stanley × LuxeConsult report last published in March 2023 based on the estimated 2022 sales.

#20 Patrick Pruniaux

Brand: Sowind Group (Ulysse Nardin, Girard-Perregaux)

Brand Net Worth: CHF 65 million

Total Market Share: < 1 percent

Patrick Pruniaux, CEO of Girard-Perregaux

Girard-Perregaux was once upon a time at eye level with brands such as Vacheron Constantin and Breguet when the three of them were competing at the highest echelon of watchmaking. Since then, one brand, Vacheron Constantin, has managed to keep a positive dynamic to grow steadily and will probably integrate the top 10 of the Swiss-made watch brands in a not-too-distant future.

Girard-Perregaux, on the contrary, has experienced a drastic fall of its sales since its owner family sold it to Kering in 2011 and from then on — due to strategic mistakes by the management — a negative dynamic started. Then in 2014, Kering acquired Ulysse Nardin, another mythical name of Swiss watchmaking with a strong heritage linked to marine chronometers, and Patrick Pruniaux became the CEO for both brands.

These are two extraordinary brands with very distinctive DNAs, with one them being positioned as a historical player in fine watchmaking. Girard-Perregaux could rely on its own manufacture with in-house movements.

The manufacture was even selling movements to third parties, such as MB&F or Urwerk, which are household names in independent watchmaking. But due to the lack of a clear market positioning and, despite having created some iconic timepieces such as the Tourbillon with Three Bridges, the WW.TC worldtimer, the Laureato and the beautiful Vintage 1945 watch, it completely lost traction and the brand awareness quickly declined.

Its sister brand Daniel JeanRichard (later JeanRichard) was uselessly absorbing management capacities and not finding its public.

In 2022, Kering finally announced the end of the value destroying watch project and announced the sale of both GP and UN to its management, after having burned an estimated EUR 1.2 billion with the brands’ acquisitions and covering operational losses for years. Having a rich shareholder is sometimes not the best motivator for finding success.

Mr. Pruniaux and his team have, since the completion of the management buyout, done tremendous work at repositioning the two brands with clear and distinctive brand territories. Girard-Perregaux has taken advantage of the trend of sports chic watches with its in-house designed Laureato timepiece, which is unlike other such watches of the time in that it has been powered by an in-house movement right from the beginning.

It remains to be seen in the long run if the current success of this market segment is enough to rebuild the brand’s road to success.

Ulysse Nardin has been rejuvenated with a strong communication based on its links with marine life and chronometer tradition. But its main pillar which might prove to be the strongest one in the long run is its horological know-how — together with a strong manufacture — which has been perfectly demonstrated in the disruptive Freak product family.

Using a silicon escapement today might not be as innovative or disruptive as it was when the Freak was launched more than 20 years ago, but it’s still one of the most intriguing mechanical concepts seen in the watchmaking world for a long time.

A challenging, but promising project to bring two icons of the Swiss watchmaking elite back to their former glory, the rebuilding of Girard-Perregaux and Ulysse Nardin will need a long-term vision which might be better secured with the new owners and especially its CEO, Patrick Pruniaux.

#19 Maximilian Büsser

Brand: MB&F, M.A.D. Gallery

Brand Net Worth: CHF 80 million

Total Market Share: < 1 percent

Maximilian Büsser, CEO of MB&F SA

When Max Büsser explained me the first time what MB&F was about, he lectured me on the fact that he wasn’t launching a brand, but a lab. I must admit that I took it more for arrogance than a brilliant idea.

But that was more than 17 years ago and his first timepiece, the Horological Machine No. 1 (HM1), had not yet been launched. It took me time to understand that Max was serious about reinventing the way a timepiece shows time.

The disruptive part of his concept is that each machine is totally different from the previous one, and is a 3D sculpture showing mechanics with very bold designs taking a lot of inspiration from cars — not from today, but from the golden age of supercars in the 1960s and 1970s when car designers would dare to create spaceships. For instance, the HM5 immediately reminded me of the Lamborghini Miura, which is still in my top 10 of the most beautiful cars ever.

The success of MB&F is very much based on Max’s charisma, but it would be unfair to reduce it to his good looks and intelligence. Max is very literate about watchmaking’s history and knows a thing or two about product design and coherent product concepts, having worked at Jaeger-LeCoultre and Harry Winston where he created the legendary Opus collaborations with independent master watchmakers.

He took that idea over when he created the MB&F concept and started collaborating with other watchmakers; for example, he worked with Kari Voutilainen on a Legacy Machine, which is Büsser’s way of paying tribute to fine watchmaking of the 18th century. And the “F” in the brand’s name is not only about the friends’ storytelling, but about being transparent on who does what.

When I look at all those new brands popping up every other month with a new “Mozart of watchmaking” making the exact same watch as every independent, focusing more on the perfect polishing and engaging angles on the movement than on real innovation, I appreciate MB&F’s true innovative way of creating timepieces. Even though I hadn’t understood how disruptive Max’s approach would become, I was proven right at least on one aspect and that is, MB&F is a brand.

And a fine and successful one employing 45 people and generating sales of more than CHF 40 million this year. However, Max’s impact on modern watchmaking far exceeds the company’s revenue figures.

It can be said that he is as instrumental to contemporary horology as Jean-Claude Biver has been to the previous generation, purely through the force of his personality, intelligence and charisma.

#18 François-Paul Journe

Personal Net Worth: CHF 100m

Total Market Share: <1%

Brand: F.P.Journe

François-Paul Journe, Founder, F.P.Journe

Without a doubt the most talented watchmaker of his generation, François-Paul Journe has not only created a unique product signature, but also foremost a brand. F.P. Journe is one of the very rare so-called independent watchmakers that have understood and managed to create a brand which will survive its namesake creator. And it is a fine watch brand with a very distinctive product signature paying tribute to fine French watchmaking of the 18th century.

His timepieces are fitting homages to the finest and most disruptive watchmakers of the golden age of fine watchmaking, such as Breguet, Berthoud and Leroy, amongst others. Someone who is literate about watchmaking history would have no problems understanding what Mr. Journe is doing when he works on the Résonance or his Centigraphe, which is an astonishing piece of micromechanics.

But the man is also capable of making his own electromechanical watches as seen in the Elégante collection dedicated to women. The concept is the perfect combination of the best of the mechanical world and quartz technology.

The maison F.P. Journe also owns its own manufacturing capacities producing its movements, cases and dials.

The brand relies on a very selective retail network and owns 11 mono-brand stores around the world. But what impresses me most is the sheer devotion of his clients who adore the man as if he was the head of a cult.

Another detail — which is in fact important — is the decision not to print or engrave the word “Swiss,” because Mr. Journe considers the Swiss-made hallmark not stringent enough for his creations. Instead, you’ll find an engraving on the movement saying “Geneva Made.”

And the “Invenit et Fecit” (invented and made) tagline of the brand is a manifest of the DNA based on creating unseen concepts.

Last but not least, the fact that Chanel — a major player in the luxury industry — has taken a 20 percent equity stake in F.P. Journe is a huge compliment for a brand created only 30 years ago with the first wristwatches launched in 1999. And I would like to finish with an anecdote from Baselworld that year where Mr. Journe attended with his business partner to meet some collectors.

One evening, the whole team of the brand I was working at was celebrating another record day with eight-figure total orders and we were wondering who that man at the back of the bar was. One colleague told us, “His name is Journe and someone told me that he will be the star of artisan watchmaking.”

But when he followed up that the guy was making less than 20 watches a year, we had a good laugh. Such is life.

#17 The Bernheim family

Net Worth: CHF 100m

Total Market Share: <1%

Brand: Raymond Weil

Elie Bernheim, CEO of Raymond Weil

Raymond Weil used to be the first choice when you were looking for an affordable alternative for pricey institutional brands. Extremely successful in the 1990’s and beginning of the 2000’s with emblematic products and campaigns such as the “Parsifal”, the brand has however lost a lot of traction these days.

Existing competitors, such as Tissot or Longines and new ones such as, Frédérique Constant, have made life hard for this brand competing with such heavy weights. The third generation of the owner family is still involved in the management of the brand but does not show a tremendous passion to reboost Raymond Weil to the path of growth.

With the recent acknowledgement by the GPHG however, for the Millésime Automatic Small Seconds which was awarded the Challenge Watch Prize by the Jury, Raymond Weil appears to be making a timely return to the forefront.

#16 Jean-Claude Biver

Brand: Biver

Personal Net Worth: CHF 150 million

Total Market Share: <1%

Pierre Biver (left), Co-Founder and CEO of JC Biver, with his father, Jean-Claude Biver (right).

Like any artist, Jean-Claude Biver dreams of dying on stage while performing his last masterpiece, which, in his case is Biver, the watch brand he launched with his son Pierre in 2022. A much beloved larger-than-life character, Biver has mastered three times what others could only dream of achieving once in their lifetimes.

He revived Blancpain, a sleeping beauty in the portfolio of SSIH (the predecessor of the Swatch Group). Biver bought Blancpain with his business partner Jacques Piguet in 1982, cleverly mixing classical watches with a very distinctive design and a reinterpretation of all mechanical complications.

Biver can be considered as one of the watch entrepreneurs that have re-enchanted mechanical watchmaking after the Quartz Crisis, which had all but killed traditional watchmaking. Biver and his partner rolled out fantastic storytelling which was partly based on historical facts relating to its founder, Jehan-Jacques Blancpain, and some “interpretations” of his role in watchmaking history.

In 1992, SMH, the company which had emerged from SSIH and ASUAG, bought back Blancpain and added Frédéric Piguet, the movement manufacture, to its industrial portfolio. Biver and Jacques Piguet cashed in more than CHF 60 million, which made their return on investment for the brand quite incredible having bought it for just CHF 18,000.

Biver the market genius and Piguet the grounded technician were the perfect duo, much like many success stories in the history of watchmaking — Czapek and Philippe, Vacheron and Constantin and many others — and more recently Richard Mille and Dominique Guenat, who associated their talents to make Richard Mille the most extraordinary success story of the last 30 years in watchmaking.

Biver then went on to help revive Omega, the flagship brand of the Swatch Group which had been revived by a team around Mr. Hayek Senior, but was still not at full speed. Biver decided to heavily push on the brand testimonials to capture a maximized attention and decided to go only for the number one in each field; for example Cindy Crawford, as the ultimate supermodel, incarnating the brand’s claim “My Choice.”

Even though it was not Mr. Biver who decided to sign a long-term collaboration with the producers of the James Bond movies, he was the one who brought in the magical equation of 1+1 = 3. This means that investing in sponsoring requires the same amount in promoting it and thus enhances the result.

Many watch brands at that time hadn’t understood that being somewhere associated with an event or a brand ambassador was only fruitful if you were capable of investing the money needed to promote it.

After leaving the Swatch Group, Mr. Biver was contacted by the owner of Hublot, Mr. Carlo Crocco, who had taken the decision to retire from the brand’s daily operations. When Biver got into the game with his longtime lieutenant, Ricardo Guadalupe, who had worked alongside Biver at Blancpain, the brand still had an iconic watch which had been very successful back in the 1980s and 1990s.

Merging rubber with precious metals was a very bold move back then and Biver summarized it with the “Art of Fusion.” But he sensed that the brand also needed a bolder product design to re-boost it and that watch became the Big Bang, which angered some people in the Vallée de Joux who — rightfully — sensed that too much inspiration had been taken from their iconic watch.

In five years from 2004 to 2007, Biver increased Hublot’s sales fivefold which attracted the attention of LVMH who then bought the brand in 2008 for CHF 430 million. Biver cashed in an estimated CHF 86 million and continued to manage the brand until 2014 when he received the mission of bringing TAG Heuer and Zenith back on track.

Biver tried what any successful brand manager does, by applying a recipe which had proven to be magical already three times. He tried to give more visibility to the brands by product placements in movies and brand endorsements by celebrities.

During the four years until 2018, Biver and his teams tried all the recipes, but didn’t really manage to bring either TAG Heuer or Zenith back on the path of growth. To be fair, the expectations towards Zenith are not in line with the brand’s intrinsic potential.

Everyone sees it as one of the legendary names of the Swiss watch industry, besides owning the iconic El Primero movement. TAG Heuer has been at the forefront of modern-day branding but somehow got lost in trying to reinvent mechanical concepts, such as the V4 or the Mikrograph which were technical marvels, but generated abyssal losses for bottom-line.

Will the last act of Mr. Biver’s recital, the eponymous Biver brand, be successful? Certainly, commercially speaking, but will it become a sustainable brand in the long run after Mr. Biver’s stay on earth?

Time will tell, but the watch industry will remember a marketing pioneer who based all his success stories on the same sound principles: Be first, unique and different!

#15 Georges Kern

Personal Net Worth: CHF 160 million

Total Market Share: 2.6 percent

Brand: Breitling

Georges Kern, CEO of Breitling

When Georges Kern decided to leave Richemont in 2017, some people — including me — questioned if he had just made the right decision to leave a very well-paid job as the head of the specialty watchmakers to join a brand which had definitely lost momentum. The price paid by CVC for the initial 80 percent stake seemed even more questionable at CHF 850 million, which valued the company at more than CHF 1 billion. CVC then successively resold a major part of its equity to another private equity firm, Partners Group, which now owns the majority stake and values the company at a staggering CHF 4.2 billion.

Mr. Kern has done a tremendous job by balancing the brand on three distinctive pillars linked to air, sea and land, with the engagement of brand ambassadors who are dubbed “squads” to imply that they’re part of the brand. The most obvious and — for some diehard fans of the brand — shocking part of the rebranding was to cut the wings in the brand’s logo which stood for Breitling’s dedication to aviation.

Coming from IWC where he had taken a lot of “inspiration” from Breitling to focus on aviation, Mr. Kern wanted to diversify the brand’s positioning and give it a broader basis in order to connect with younger demographics.

The first product launch under the new era was the Navitimer 8, which failed to attract new clients, and worse, disappointed the existing ones. Why? Because the Navitimer became an iconic product with its design of an instrument for the wrist for pilots and many more clients dreaming of being one.

Taking these codes away simply did not resonate with the core and target audience.

That was a wakeup call telling the brand that modernizing icons might be a better idea than trying to reinvent them entirely, and since then, Breitling’s ride on the neo-vintage wave has been a lot more successful with, for instance, the launch of the Premier or Top Time, which are taking their legitimacy from the brand’s legacy. In addition, the partnership in Kenissi Manufacture, a joint venture where Breitling is partnering with Chanel and Tudor, is also giving the brand a lot more horological credibility.

Last but not least, Breitling also has an innovative transversal business model offering ancillary services such as financing your watch with monthly instalments, which is a clever way to give access to younger demographics seeking to acquire luxury goods. Breitling was also amongst the first adopters of non-fungible token (NFT) technology in order to track a watch during its decade-long itinerary.

The most recent extensions of the brand are the opening of cafés and restaurants to create branded spaces of conviviality where selling products is not the primary purpose, but creating bonds with the clients is more important. Finally, the recent acquisition of Universal Genève revives another chapter for the storied brand. It’s one of the most anticipated returns in all of watchmaking and we can’t wait to hear about this success story.

#14 Miguel Rodriguez

Personal Net Worth: CHF 300 million

Total Market Share: < 1 percent

Company: The Festina Group

Brand: Festina, Lotus, Candino, Jaguar, Kronaby, Calypso, Lotus Style, Lotus Silver and Perrelet

Miguel Rodriguez, Owner and President of the Festina Group

Any self-made entrepreneur has a good story to share when explaining how he built up his wealth. In the case of Miguel Rodriguez, the sole shareholder of the Festina Group, the story is true that he came to work in Switzerland as an operator of production machines for the watch industry.

He also likes to tell the story of how he was smuggling watches to Spain to make some money on the side which later on allowed him to buy his first Swiss watch brand, Festina. This laid ground to a group comprising other brands like Candino, Jaguar, Lotus (watches and jewels) and Perrelet.

The brand portfolio also includes Swedish brand, Kronaby which is making hybrid smartwatches. This links to the know-how of Soprod Quartz, one group owned manufacturing company capable of developing smartwatches from with proprietary technology.

#13 Ted Schneider

Personal Net Worth: CHF 600 million

Total Market Share: < 1%

Brand: Norqain

Ted Schneider, Co-Founder and Board Member, Norqain

Even after he sold the majority of Breitling to CVC Capital Partners in 2017, Teddy Schneider had to show that he was still capable of having success in the watch industry, hence his investment in Norqain, which is a fast growing generalist brand with quite a conventional branding strategy made up of testimonials — sports and wildlife preservation — and contemporary brand values such as ocean cleaning. The board is advised by industry legend Jean-Claude Biver, which is probably a good decision to bring some out-of-the-box thinking to the table, and is helmed by one of the most dynamic young leaders in the industry, Benjamin Küffer (pictured, right), who is joined by his sister Caroline as the brand’s head of communications.

Ben Küffer, Co-Founder and CEO, Norqain

We will never know why Mr. Schneider and his sisters decided to sell the family business and if they regret doing so. Seeing the value of the company quadrupled in five years thanks to the dynamic Georges Kern may trigger some regrets at some point.

Nonetheless, CHF 1 billion for Breitling was good money to cash in and it is clear that Schneider still has an interest in Swiss watchmaking through Norqain.

#12 Vartan Sirmakes

Personal Net Worth: CHF 600 to 700 million

Total Market Share: 1 percent

Brand: Franck Muller

Vartan Sirmakes, Co-Founder of the Franck Muller Group

If there is one brand deserving the title of being the first success story of the new era of watchmaking going back as far as the 1990’s and the rebirth of modern watchmaking, it would be Franck Muller. Launched in 1991, the brand quickly had a tremendous success with oversized barrel shaped watches dubbed Cintrée Curvex.

The watches were not only a lot bigger than any other wristwatch back around then, but the bold dials with oversized numbers were instantly recognizable. The commercial success came overnight when some Italian — yes, the very place where good taste was born and watch trends are launched — football coaches and players started wearing Franck Muller’s watches.

The brand was not only about bold design, but also about mechanical inventions and the race for the title of the most complicated watch in the world. The mechanical complication of the Crazy Hours for instance is very much the expression of creativity at Franck Muller with a very playful way of indicating the time.

Frank Muller

Coming from the suppliers’ side, Vartan Sirmakes decided to invest as much as possible into the brand’s own manufacturing capacities. This strategy not only served the purpose of being reactive and cost-efficient but also lay the groundworks for the narrative of being a watch manufacture.

Even if the brand has lost a lot of traction since more than a decade, it is still a relevant player in the high-end segment with an estimated 21,000 pieces and CHF 250m in watches sold last year. That is a lot, but still a lot less compared with the first decade of this century when it was selling for north of CHF 600m a year.

Without taking away any credit from Richard Mille’s phenomenal success, it is beyond questioning that Richard Mille took some inspiration for the product design from Franck Muller.

On the negative side, the brand which is part of an eponymous group, never succeeded in diversifying its brand portfolio beyond the main brand. All the projects — Karbon, MHR, European Company Watch (the name is already program) and Pierre Kunz — ended in the cemetery of the watch industry.

Even Cvstos which is founded and managed by Vartan Sirmakes’ son Sassoun is not exactly a success story inasmuch as it’s surviving thanks to cross sales from the parent company.

#11 Jacob Arabo

Personal Net Worth: CHF 900 million

Total Market Share: <1%

Brand: Jacob & Co.

Jacob Arabo, Founder, Jacob & Co.

Jacob & Co. is an incredible success story based on the vision of one man, Jacob Arabo, of making 3D fine watchmaking. When he was explaining his vision for his products to his manufacturing partners in Switzerland, they would politely listen to him, but wouldn’t buy into his weird ideas.

One day, a talented and creative watchmaker presented him with the concept of a highly complicated triple-axis tourbillon combined with three other arms, each displaying either a sphere or “Jacob-cut” diamond with 288 facets, and finally the time display, each turning at a different speed. Together with Valérien Jaquet of Concepto, Jacob proceeded to make this concept a reality.

He named it the Astronomia, and with it, Arabo propelled himself through sheer force of will into the horological big leagues.

The extraordinary idea behind the mechanical concept, which is already a feast for anyone interested in mechanical complications, is that the variations of displays are almost infinite. Jacob & Co. timepieces and jewelry — accounting for 75 percent and 25 percent of the brand’s sales, respectively — are bold and very distinctive. The brand has seen a very strong acceleration post-COVID of its sales, which grew 132 percent from 2020 to 2022.

Certainly, it is a very interesting dual brand capable of creating marvels for affluent clients around the world who dare to wear very distinctive watches and jewels — and who are capable of paying north of CHF 600,000 for an Astronomia timepiece. The Swiss watch industry is by now not laughing anymore at that crazy American’s vision of a different way of making watches.

Benjamin Arabov, CEO, Jacob & Co.

Jacob followed up on the Astronomia with a ceaseless assault of mind-blowing, technically innovative finery, including the Bugatti Chiron Sapphire Crystal watch with its tiny functional W16 engine and the Godfather minute repeater with its multi-axis tourbillon. One huge asset to Arabo’s vision is his son and CEO of the brand, Benjamin Arabov, who is a very well-liked, friendly and passionate young man showing great promise for the future.

#10 The Mille and Guenat Families

Net Worth: CHF 1.6 billion

Total Market Share: 2.7 percent

Brand: Richard Mille

Richard Mille

“You can divide the history of watchmaking into two distinct eras,” says Wei Koh. “The time before Richard Mille and the time after, so seismic is his impact on watchmaking as we know it.”

Today Richard is, in Tour de France mountain classification terms, “Hors Categorie,” meaning that it is outside of all categories and in a realm of its own. What else can you say about a brand whose average price is a staggering USD 250,000.

Richard Mille is the perfect case study for any luxury marketing student because it reunites all ingredients needed for a success story. First, a price positioning which was so bold when the brand was launched in 2001 that it shocked the world of high-end watchmaking.

Selling the RM 001 at USD 135,000 was seen as a “crime de lèse majesté” towards a brand like Patek Philippe which, at that time, was selling only one tourbillon and for a lot less. Asked about this audacious price positioning, Mr. Mille replied: “We’re not competing with anyone!”

Alexandre Mille, Brand Director, Richard Mille

The second ingredient is a bold brand claim: “A racing machine on the wrist.” This says it all for the product inspiration taken from racing cars and their perpetual quest for new materials and new concepts.

Richard Mille is always at the forefront of using new materials for the sake of innovation and inventing new mechanical marvels. Despite what some critics bemoan — most of them don’t have the necessary technical background — the watches are very sturdy and reliable.

Tennis legend Rafael Nadal has demonstrated this many times by wearing the RM watches while playing high intensity games. Conceiving a tourbillon such as the RM 027 capable of resisting a few G’s each time Nadal hits the ball is a remarkable achievement.

Cecile Guenat, Director of Creation and Development, Richard Mille

Last but not least, you need a very distinctive design which Richard Mille achieved right off the bat, with a barrel-shaped case and quite massive dimensions. Any new reference is a limited edition and, needless to say, all of them are instantly sold through and reach tremendous prices on the secondary market.

And perhaps last of all, the watches have to be extraordinarily stunning from a visual richness perspective, which they are.

Dominique Guenat, Co-Founder, Richard Mille

The brand’s unique success, which surpasses what Franck Muller achieved in the late 1990s and early 2000s, is also built on a very strong business strategy. One partner, Dominique Guenat, is in charge of manufacturing and Richard Mille is in charge of branding.

Three other partners are taking care of the worldwide distribution and managing the 41 mono-brand stores retailing exclusively the 5,200 watches sold last year. Roughly half of those boutiques are brand-owned and the other half are joint ventures (JV) with a 15 percent gross margin left for the JV partner.

The value of Mr. Mille’s wealth is estimated on his stake in the brand’s equity taking into account that, one, Audemars Piguet owns 10 percent, which gives Richard Mille unlimited access to Audemars Piguet Renaud & Papi, and two, that the retail activities are split on three different regions and owned by other business partners.

Therefore, the overall brand value with consolidated sales at CHF 1.3 billion in 2022 can be estimated at CHF 10 billion due to what is probably the highest margin of the watch industry and a totally integrated value chain with an integrated manufacture and a 100 percent direct-to-consumer retail network.

Amanda Mille, Brand and Partnerships Director, Richard Mille

Perhaps most impressive of all is that Richard Mille is the first entrepreneur who has assured his succession plan with his business now guided by the able hands of his children such as Amanda Mille, who is in charge of all partnerships, and the wonderful, affable and painstakingly humble Alex Mille, who as a sign of his dedication has moved to the manufacture so he can be part of the daily management of its industrial competences.

#9 The Scheufele family

Net Worth: CHF 2 to 3 billion

Total Market Share: 1 percent

Brand: Chopard

Karl-Friedrich Scheufele (left), Co-President of Chopard and President of La Chronométrie Ferdinand Berthoud, with his father, Karl Scheufele III (middle), and son, Karl-Fritz Scheufele (right).

The owners of Chopard, the elegant Scheufele family, bought the Swiss watch brand in 1963 to reinforce their legitimacy in the watch industry. The family was already active as a jewelry manufacturer with its own watch brand under the name Eszeha since 1904.

Chopard is one of the very rare brands competing in different luxury product categories, but the vast majority of the top line — an estimated 97 percent — is being generated by jewelry (55 percent of the 97 percent) and watches (45 percent). The diversification into accessories was never successful and the only product category generating a substantial positive gross margin are the perfumes which are a pure franchise business.

Caroline Scheufele, Co-President of Chopard

Unlike the main competing brands — such as Hermès and Cartier — and despite having been one of the first jewelry and watch brands to go direct-to-consumer with a substantial number of brand-owned stores (around 35 worldwide) and franchisees (around 110), Chopard has yet to truly establish success with its accessories, except in its own boutiques as gifts.

Chopard has a unique brand asset or unique selling proposition (USP) with the legendary Happy Diamonds even though it is no longer patent protected. Happy Diamonds is an extraordinary product concept, because it can be endlessly reinterpreted in different colors, sizes, materials, patterns and even shapes.

It is certainly Chopard’s hero product, generating a substantial proportion of the brand’s sales in its different versions, and iconic both for the watches and the jewelry. The flip side of owning such a wonderful asset is that the brand has lost a lot of traction especially in the watch business by not innovating enough.

The Mille Miglia product family launched in 1988 had shown the way by increasing the sales fivefold when it was still managed by a talented product director — Jean-Frédéric Dufour, no less, and yes, the same one who’s now running the show at Rolex.

In the past, Chopard faced challenges to establish the L.U.C in the elite league of mechanical watches, despite having developed top-notch movements which doesn’t have to fear any comparison with the likes of Patek Philippe or A. Lange & Söhne, but lacks brand sexiness for the die-hard collectors. However, in recent years, Chopard L.U.C in particular the stunning Revolution Award-winning 1860 Lucent Steel, has become one of the most sought after timepieces on the market.

It is nice to see that after 26 years, Chopard L.U.C is getting its much-deserved time in the spotlight. Chopard has also created the very appealing sports chic timepiece, the Alpine Eagle, to great results.

And Scheufele’s dedication to movement innovation has yielded what Wei Koh feels is the “best sounding minute repeater in modern horology,” the L.U.C Full Strike. Finally, Scheufele has also successfully launched Ferdinand Berthoud, which now has a cult collectibility status expressed by a waiting list of three years for some of its models.

It will be interesting to see how the third generation (or the fifth generation, if we take into account the pre-Chopard legacy of the family), in particular the very promising and young Karl-Fritz Scheufele, will bring their unique intelligence and energy to the brand and bring it back on a virtuous circle.

#8 The Hayek Family

Company: The Swatch Group Limited

Net Worth: CHF 3.5 billion

Total Market Share: 19.8 percent

Brand: Breguet, Harry Winston, Blancpain, Glashütte Original, Jaquet Droz, Léon Hatot, Omega, Longines, Rado, Union Glashütte, Tissot, Balmain, Certina, Mido, Hamilton, Swatch, Flik Flak

Nick Hayek Jr., CEO, Swatch Group

Without the Swatch Group, the Swiss watch industry would have likely perished during the Quartz Crisis. Its savior, Nicolas Hayek Senior, is often credited with rescuing the Swiss watch industry from the brink of disaster by creating the Société de Microélectronique et d’Horlogerie (SMH), the predecessor of the Swatch Group, in 1983 and merging two fledgling groups to form one strong entity where two brands were the cornerstones: Swatch was to regain lost ground from the Japanese competitors and Omega was to become the crown jewel again.

At the same time, Hayek also created Swatch watches which became a mass-produced, highly popular Swiss-made alternative to the Japanese quartz fare. He purchased and uplifted the greatest name in Swiss watchmaking — Breguet — with the creation of extraordinary timepieces, traveling exhibitions of the great watchmaker’s masterpieces, and the re-creation of the legendary Marie Antoinette pocket watch unveiled at an extraordinary launch at the Palace of Versailles.

Nayla Hayek, CEO, Harry Winston

Today, the Swatch Group is at the center of the Swiss watch industry not only for managing 16 brands which are almost exclusively — with the exception of Harry Winston which is an iconic jewelry brand also making watches — selling watches. Hayek’s theory was mainly built on the concept of a pyramidal positioning of each brand and mutualizing the production capacities rather than having dedicated production capacities for each brand.

Every brand also got its territory (besides a price positioning) in order to make sure that two brands wouldn’t have overlapping and hence competing products and communication efforts. This worked very well and positioned the Swatch Group as the biggest watch group in the world while at the same building strong brands and a unique manufacturing entity.

But purists would occasionally mourn the loss of legendary movements such as the Longines 13ZN chronograph caliber, replaced by more accessibly priced industrial movements befitting the brands’ price positioning.

Marc A. Hayek, President and CEO of Blancpain

In recent years, however, things have become a little more heated with the group’s number one, Omega, helmed by the brilliant Raynald Aeschlimann, losing ground against Rolex — which has become more aggressive in recent years — and being challenged by other brands such as Cartier for women’s watches and Breitling on the overall. The market has changed considerably with an ongoing polarization at the top end, with high-end brands such as Rolex, Audemars Piguet and Patek Philippe becoming luxury brands and surfing on an overall positive trend for the whole luxury industry.

Apart from Omega, which is leading the field in its core range price positioning (an average worldwide retail price of CHF 6,500) and generating one third of the group’s sales, but approximately 60 percent of the operational margin, the market headwinds have created challenges on the Swatch Group with a decreasing market share over the years.

The challenges are multiple for a group still strongly led by the family with Nick Hayek Junior performing as the CEO of the group, Nayla Hayek — his sister — is the chairman of the board and Marc Hayek — her son — officially taking care of the luxury segment, but who is mainly looking after Blancpain. Strongly challenged by the success of the smartwatches, Swatch and Tissot have managed to bounce back recently with the massive success of the MoonSwatch (a collaboration between Swatch and Omega) and the successful Tissot PRX, respectively.

It should be said that with the MoonSwatch and now the Swatch Blancpain “Scuba Fifty Fathoms” diving watches, Hayek Jr. has brilliantly capitalized on collaborations within his own group, which has resulted in the creation of a cultural phenomenon, especially amongst the younger generation, the likes of which our industry has not seen since his father hung a massive Swatch watch on the side of a building to announce its arrival. These collaborations have vitally engaged in building watch culture and awareness in the next generation and Hayek deserves to be applauded for this.

On the subject of the next generation, one extremely interesting and promising young Hayek is Nick III, a young man studying hotel management at the elite EHL (formerly known as the École Hôtelière de Lausanne) and one of the most passionate and insightful young collectors Revolution’s founder Wei Koh has met in recent years.

The Swatch Group is very important for the whole structure of the Swiss watch industry, because it is a systemic part of it. The group manufactures and sells two thirds of the overall volume of the Swiss watch industry, and is stricto sensu the only fully integrated industrial manufacture, even though one can argue that Rolex and Richemont are de facto at the same level of industrial integration, at least for the mechanical watches.

#7 Johann Rupert

Company: Compagnie Financière Richemont S.A.

Net Worth: CHF 11.5 billion

Total Market Share: 19.5 percent

Brand: Cartier, Panerai, IWC, Roger Dubuis, Piaget, Jaeger-LeCoultre, Vacheron Constantin, Baume & Mercier, A. Lange & Söhne, Buccellati, Van Cleef & Arpels, Montblanc, Time Vallée, WatchFinder & Co.

Johann Rupert, Chairman, Compagnie Financiere Richemont

Revolution’s founder Wei Koh likes to say, “If Rolex is the King of Sports and Patek is the King of Complications, then Cartier is the King of Elegance.” By far the most important brand within the Richemont brand portfolio, Cartier generates approximately 50 percent of the group sales and 70 percent of the group’s profits.

Now that Cartier’s brilliant CEO, Cyrille Vigneron, has realigned Cartier with its true and proper status as the King of Elegance, the watch division is absolutely on fire, becoming the second largest watch brand on the planet after Rolex. Cartier is one of the very few brands perceived as being genuinely a luxury player and for which the value perception is higher than its actual market positioning.

For instance, its feminine watch segment is competing against pure players such as Omega, which might seem surprising but the maison is generating its “bread and butter” with watches priced at an average worldwide retail price of CHF 5,400, which is even slightly below the entry price of an Omega. The magic of such a brand is that despite generating quite a high volume with around 620,000 watches last year, it keeps the aura of a luxury brand with a high brand equity.

There is only one other comparable that comes to my mind when asked if there’s any such brand around, and that is the LVMH-owned Tiffany & Co.

Cyrille Vigneron, CEO of Cartier

The specialty watchmakers, as Richemont calls them, are brands that are mostly positioned in the premium and luxury price segments. Richemont has certainly a strong know-how and expertise in luxury as the recent success of Vacheron Constantin is showing, with the brand moving steadily up the rankings; this was certainly helped by the success of its Overseas product family, which allowed it to attract a younger clientele.

Vacheron has quietly become one of the Richemont Group’s and our industry’s greatest success stories and, by many accounts, it will pass the CHF 1 billion mark in revenue this year. It is also a key player in multiple categories, from historical watches such as the Historiques American 1921 and Cornes de Vache 1955 to high complications, métiers d’art watches, sports watches like the Overseas, and now the much sought after Reference 222, aka Brad Pitt’s favorite watch.

All this is down to the exceptional leadership of its CEO Louis Ferla, whose favorite saying is, “Strong sales are just the result of a job well done.” While it is still not clear who will replace Vigneron at Cartier should he step down at the normal retirement age of 65 in two years, the smart choice, in my opinion, would be Ferla.

Louis Ferla, CEO, Vacheron Constantin

The group has also succeeded in developing a formidable manufacturing pool with movement manufactures dedicated not only to a single brand such as Jaeger-LeCoultre, but also serving sister brands in need of R&D and manufacturing capacities. Richemont owns Valfleurier, which fulfils the task of producing high volume calibers for some of its brands, and thus reducing the dependency from Swatch Group’s industrial arm, ETA.

And this vertical integration, although often questioned by financial analysts for its capital and labor cost-intensive needs, brings a lot of value for the group.

#6 The Stern Family

Net Worth: CHF 12 billion

Total Market Share: 5.1 percent

Brand: Patek Philippe

(from left): Philippe Stern, Honorary President of Patek Philippe, and his son Thierry Stern, the current President

When it comes to brand equity, there is no greater brand than Patek Philippe and that is down to the brilliance in leadership of the Stern family, now in its fourth generation at the helm. Many say that Patek Philippe is considered to be the “Rolls-Royce” of watch brands. However, I feel the far more accurate statement is that Rolls-Royce is the Patek Philippe of automobiles.

That is, even though Patek is neither the oldest nor historically the most successful brand. In fact, the Stern family had to buy the brand in 1932 because the company was in great financial despair as a result of the overall disastrous economic situation of the Great Depression, where it ended up owing the Stern dial manufacturing company a lot of money.

And that was when the magic began to happen with the creation in 1932 of the Reference 560, in 1936 the Reference 130 and in 1941 the two greatest complication watches ever created, the References 1518 and 1526. Following that, Patek Philippe became the unrivaled King of Complications and remained so ahead of its competition it should be placed in a category all its own.

Perhaps most special of all is that Patek Philippe, unlike Rolls-Royce which has been owned by BMW since 1998, is still 100 percent privately owned by the Stern family and run like a family business.

Patek Philippe has also become the referential watch brand in the categories of the high-end and the sports chic stainless steel watch with its iconic Nautilus and Aquanaut models. The brand’s image has been fostered by a very strong communication campaign which, since 1996, has staked the claim that “You never actually own a Patek Philippe. You merely look after it for the next generation.”

The claim is so strong because it not only implies that the timepiece you have acquired is there to stay for eternity and will be passed on from generation to generation, but more importantly, it also binds the brand into your family legacy.

Patek Philippe is considered to be the “Rolls-Royce” of watch brands even though it’s neither the oldest, nor always the most successful one. In fact, the Stern family had to buy the brand in 1932 because the company was in great financial despair due to the overall disastrous economic situation of the Great Depression, and owed the Stern dial manufacturing company a lot of money.

Patek Philippe has invested tremendous amounts of money into its manufacturing capacities in Geneva and elsewhere in Switzerland. Starting with the inauguration of the new manufacture of Plan-les-Ouates in 1996 and steadily increasing its production and sales volumes, the company invested billions of Swiss francs in buildings, machines and, last but not least, training people.

The latest investment amounts to CHF 600 million for the building and the machines, and everything is self-financed. The company doesn’t owe a cent to any bank and the genius that is Mr. Philippe Stern — Thierry Stern’s father who is the actual owner of the brand — paid in advance all the succession fees in 2014 so that his children, Thierry and his sister Christine, would not have to take on a heavy cash burden to pay for those.

Those taxes were not paid by petty cash, but at a whopping CHF 415 million created quite an uproar in the press because everyone was guessing who could have paid that substantial amount of money at once. While many names have been mentioned as the greatest leader in watchmaking of all time, it is Revolution founder Wei Koh’s opinion that “Philippe Stern is the watch industry’s greatest innovator, pioneer and leader.”

He built the world’s greatest watch museum, helmed the world’s greatest watch campaign, created the most single most beautiful watch of the modern era, the Reference 5004, and positioned Patek and especially its complications to be the unobtainium of the watch world.

#5 The Audemars and Bottinelli families, other minority shareholders

Net Worth: CHF 15 billion

Total Market Share: 4.7 percent

Brand: Audemars Piguet

Jasmine Audemars, Chairwoman of the Board of Directors, Audemars Piguet

Once thing that the outgoing CEO of Audemars Piguet, François-Henry Bennahmias, can be credited with is the phenomenal value creation he has delivered in his 11-year tenure as CEO. From an estimated CHF 2 billion brand value with CHF 630 million in sales, Bennahmias has taken the brand to a staggering CHF 15 billion valuation. How?

First of all, by executing a long-term strategy dedicated to transforming Audemars Piguet into a luxury brand. Then, it was about adopting a coherent attitude both on-site and online, as well as reducing the retail presence to mono-brand boutiques rather than multi-brand retailers carrying a multitude of competing brands.

The positive by-product of this, of course, is that the brand has earned the retail margin which massively increases profitability. Next, AP is focusing the product offering on one iconic product, the Royal Oak, and also taking some risks by launching a controversial new product family, the Code 11.59, which in fact picks up all the codes of the Royal Oak.

Incidentally, Code 11.59 is already contributing 12 percent of the brand’s sales and even though this seems marginal, any other product collection before that never came near to becoming a sustainable product family. In fact, the Millenary and Jules Audemars collections were discontinued recently.

Olivier Audemars, Vice Chairman of the Board, Audemars Piguet

The company has invested substantial amounts of money into its production facilities with the most recent initiative being the construction of a new manufacture in the Canton of Geneva, after having inaugurated new production facilities in Le Brassus and in Le Locle, Canton of Neuchâtel. On top of the verticalization of its activities, Audemars Piguet has also created a museum which is outstanding by its modern scenography and can be only visited in small groups to preserve the unique experience of discovering the brand’s unique heritage.

Although the historical collection can’t compete with the Patek Philippe Museum in Geneva in terms of collection richness, it is a lot more modern and offers a view on some of the brand’s artisans working at their benches.

François-Henry Bennahmias, CEO of Audemars Piguet

Even though 2022 was already an exceptional year with the 50th jubilee of the brand’s iconic Royal Oak and a firework of limited editions relating to this commemoration, 2025 will mark the 150th birthday of AP and we can certainly expect some marvels. Finally, as he departs, it is clear Bennahmias still has his eye on increasing revenue past the CHF 3 billion mark by targeting the female customer.

As he explained to us, “I want our women’s watches to be the Birkin bags of watchmaking. No luxury watch brand today has achieved parity between male and female customers; we may well be the first.” Was this part of the decision-making in hiring a female CEO in Ilaria Resta? Bennahmias claims it isn’t but it certainly can’t hurt.

#4 The Hans Wilsdorf Foundation

Net Worth: CHF 70 to 80 billion

Total Market Share: 31 percent

Brand: Rolex, Tudor, Carl F. Bucherer, Bucherer Group

Hans Wilsdorf, Founder of Rolex and Tudor

Regardless of its ranking on this index, there is one clear unassailable and irrefutable truth: Rolex is the King of Watches. Rolex does so much to engage the general public’s interest in luxury watches that Wei Koh, Revolution’s founder, states, “Without Rolex, there could be no Swiss watchmaking industry because everything is built on a foundation that this brand creates.”

Rolex is the epitome of a well-managed luxury brand, beyond being a company making watches. Having a single shareholder which is a foundation — Mr. Wilsdorf’s estate — makes things easier in terms of long-term vision, as there is no pressure to pay dividends or show growing results quarter after quarter as listed companies tend to.

Neither the company nor the Wilsdorf Foundation publishes any figures, but the benefits generated by the watch brands — because there is also sister brand Tudor — are being generously redistributed by the foundation. Rolex itself is also supporting many good causes around the world.

Those are substantial amounts of money being given away, as we are talking up to CHF 300 million every year through the Wilsdorf Foundation alone. Hence, buying a Rolex is also helping good causes — which might help take the edge off of waiting six years (probably more) for your Daytona.

Jean-Frédéric Dufour, CEO of Rolex

Rolex has a dominant position in the luxury watch segment that not a single luxury brand can claim to have. It has an estimated 40 percent market share of the U.S. luxury watch market, which is also the biggest in the world.

The brand sold 1.2 million watches per annum in 2022 which generated CHF 9.3 billion in sales. But this is at wholesale because, until this year, Rolex worked exclusively with partners creating almost CHF 5 billion for the world’s best, and let’s face it luckiest, retailers on the planet.

I had written about the Bucherer deal in an article here that it was quite surprising that Rolex would leave a good CHF 4.65 billion on the table by not owning its own retail. Back then, I posed the question: “Now let’s imagine that Rolex decides to integrate their retail network entirely or partially. What would it mean in terms of profitability and the consequences on the worldwide retail structure?”

For five years, Rolex and Patek Philippe were “anomalies” in the wake of a direct-to-consumer strategy where luxury brands were gearing towards more control of the value chain to the client’s wrist. It’s not so much about capturing more margin, but foremost about controlling the brand’s image and collecting client data.

After having launched its Certified Pre-Owned program with Bucherer, the next step which had been in the pipelines for years, was just logical with the integration of its most important retailer. And for sure Rolex won’t stop in its consolidation of its retail activities.

The next acquisitions — yes, plural — are on the radar and these will be significant and game changers, just as the acquisition of Bucherer has been.

Rolex is one of the very few watch brands which can truly be described as a fully integrated manufacture and is continuously investing substantial amounts of money in its production capacities. The last 20 years has seen billions of Swiss francs being invested both in Geneva and Bienne, where the brand manufactures its movements. It also has as CEO one of the most brilliant master tacticians and visionaries, Mr. Jean-Frédéric Dufour, and we are only beginning to see the start of what he has in store for us.

#3 The Wertheimer family

Company: Chanel Limited

Net Worth: CHF 90 billion

Total Market Share: 1 percent

Brand: Chanel

Gérard Wertheimer (left), Co-Owner of Chanel and Head of the watch division, with his brother Alain Wertheimer (right), Co-Owner and Chairperson of Chanel

Very few luxury brands are based on such strong fundamentals as comparable with Chanel, which is best known for its fashion and bags, but yet has also successfully managed to diversify with other product categories such as watches. One remarkable accomplishment is the fact that the J12 watch launched in 1999 has already achieved the status of an icon, not only thanks to a distinctive design, but also clever marketing.

Unlike what Jean-Claude Biver preaches, you don’t need to be first. What you need to do is make people believe that you master it best and that was what Chanel had done when it launched the J12 in ceramic, 13 years after Rado which is no longer today the “King of Ceramic.”

Chanel immediately signaled that its ambitions in watchmaking were going beyond just making an accessory product. The brand immediately invested in production facilities in Switzerland and began producing ceramic components at a company called Châtelain (which also produces the ceramic bracelets and cases for even some of the most desirable brands in Swiss watchmaking).

It then went on to buy Romain Gauthier’s movement manufacture with which it was already collaborating for mechanical movements such as the Monsieur Caliber. And most importantly, Chanel is one of the partners of the powerhouse that is Kenissi Manufacture, making mechanical movements for Breitling, Tudor and the brand’s J12.

Chanel has also taken a 20 percent stake in F.P. Journe in 2018, but this seems more patronage than a strategic business move, unless there is a shareholders’ agreement in place with a right of preemption to ensure the long-term growth of the eponymous niche brand.

#2 The Hermès family

Company: Group H51

Net Worth: CHF 125B

Total Market Share: 2%

Brand: Hermès

Pierre Alexis Dumas, Artistic director of Hermès

The epitome of a luxury brand, the maison Hermès had decided about a decade ago to also become a serious player in the field of watchmaking. A luxury brand needs to propose certain accessories to lure aspirational clients into its temple; for instance, perfumes, eyewear or writing instruments are a clever way to lower the entry ticket and generate sometimes substantial revenues.

However, the value perception by the clients can sometimes be negative if they perceive it as a misalignment with the brand’s overall positioning — and that was the case with Hermès’ watches before the Parisian maison decided to up its game with serious watchmaking.

Axel Dumas, Executive chairman of Hermès

The collaboration with Vaucher Manufacture of which Hermès owns 25 percent gave it immediate access to mechanical movements perceived as being credible, but it didn’t land an immediate commercial success. The brand needed also to do a serious cleanup of its existing product collection with too many quartz proposals and, overall, too many different product families.

Today, Hermès is proposing a solid collection with five product families for men’s and six for women’s watches. Specifically, the H08 has the potential to become an icon because it ticks all the boxes of the brand’s design codes with its instantly recognizable design, and stands for the brand’s ambitions to play a leading role in the sports chic segment.

The strength and aura of the brand allows it also to sell major timepieces in the elite league of watchmaking with grand complications such as tourbillon minute repeaters selling at more than CHF 300,000. It even creates unique pocket watches with designs that are incredibly creative and not necessarily the ones you would expect from a very conservative maison.

In just five years, Hermès has more than tripled its sales to CHF 521 million in 2022 and is growing a lot faster than the industry’s average. It should achieve an approximate CHF 600 million in sales this year.

Laurent Dordet, CEO of Hermès Horloger

The confirmation that Hermès is on track with its strategy is given by its archrival Louis Vuitton, which recently adopted exactly the same approach of positioning its current collection on a much higher level than what it used to be. As managing director of Hermès’ watch division, Laurent Dordet is understated, soft-spoken and humble but possesses an admirable track record over the last eight years, developing a strong sense of identity for Hermès watches that capture the maison’s strong sense of whimsy and poetry.

#1 The Arnault Family

Company: LVMH Moët Hennessy Louis Vuitton

Net Worth: CHF 150 billion

Total Market Share: 6.3 percent

Brands: TAG Heuer, Hublot, Bulgari, Zenith, Louis Vuitton Horlogerie, Dior, Chaumet and Tiffany & Co.

Bernard Arnault, Chairperson of LVMH

Even though the recent market correction was quite hefty (-23.5 percent in six months), LVMH is still the most valued luxury corporation in the world at CHF 317 billion, which is still almost twice the value of Hermès and seven times that of Kering. Hence, at the time of writing, Bernard Arnault is still the second richest man in the world with an estimated wealth of CHF 150 billion.

And even though sales of watches account for only 6 percent of the group’s total revenues with an estimated CHF 4.7 billion out of CHF 79 billion, LVMH clearly has big ambitions to grow this business unit. Currently with 6.3 percent market share, the group is only in fourth position behind Rolex, Swatch Group and Richemont, but everybody knows that Arnault has never been satisfied to play second fiddle in any one of his active market segments.

We highlighted recently that Louis Vuitton has decided to change gears for its watch business, not loudly, but in a very elegant and smart manner. Even though LV has a huge potential to grow its watch business, the real growth in order to become a major player in the watch business will be through a major acquisition, and there aren’t many candidates available out there.

At the same time, Bulgari has carved a strong niche for itself in the sports chic category with the excellent Octo Finissimo. The company is ably led by Jean-Christophe Babin and his team, which consists of the likeable and diligent Antoine Pin and the talented Fabrizio Buonamassa Stigliani.

Frédéric Arnault, CEO of TAG Heuer

Interestingly, two of Arnault’s five children are now active in the watch division, with Frédéric as the CEO of TAG Heuer and Jean who is the head of Louis Vuitton Horlogerie. Frédéric is said to be leaving TAG Heuer to take up another position within the same division; he is to be replaced by the dynamic Julien Tornare, formerly from Zenith.

Jean is showing very promising results at making LV an even more credible player based on La Fabrique du Temps’ manufacturing capacities. He’s also been planning to relaunch Gérald Genta and Daniel Roth, both of which were dormant at sister brand Bulgari.

Jean Arnault, Director of Watches at Louis Vuitton

So far the Arnault siblings have proven themselves to be considerable assets to their family business and are amongst the most dynamic young players in the industry.

On the overall, with pure watch players like Hublot, TAG Heuer and Zenith holding fort, along with some sister brands carrying compelling watches in their product offering such as Bulgari, Dior and Tiffany, LVMH already carries quite an extensive brand portfolio which they can — and will — develop.

Reference

By Felix Scholz

Cartier: A Santos Story

May 3, 2023

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FEATURED FROM THE SHOP

Parmigiani Fleurier

Limited Edition

Parmigiani Fleurier Tonda PF Micro-Rotor "Purple Reign" x Revolution

$26,400.00

TECH SPECS

Movement	Self-winding caliber PF703; 48-hour power reserve
Functions	Hours, Minutes, Date
Case	40mm; polished and satin-finished stainless steel with platinum knurled bezel; water resistant to 100m
Dial	Purple; rhodium-plated applied hour markers
Strap	Polished and satin-finished stainless steel bracelet
Limited Edition	Limited and numbered edition of 50 pieces

The post The Revolution Success Index appeared first on Revolution Watch.

Show and Tell with the Cartier Santos-Dumont and Tank

Celine Yap — Mon, 27 Nov 2023 08:00:24 +0000

Show and Tell with the Cartier Santos-Dumont and Tank

Taking its signature classics onward and upward, Cartier offers distinct heritage in multitudes.

Feature

By Celine Yap

Nov 27, 2023

Jeweler, horologer, raconteur. Cartier is a maison of many specialties. In every one of these finely honed crafts, its heritage runs deep, and provides such a vast plethora of unique anecdotes and perspectives to enrich all it creates that every Cartier creation is an invitation to explore its vast universe. Much ink has already been spilled recounting the storied origins of its house icons, with entire books devoted to the singularity of their peerless pursuit of quality and sheer design ingenuity. And there will be more, because the maison continues to write its own story, curated for the connoisseurs and tailored for the times.

In the last few years, Cartier has done remarkably well to reassert and rejuvenate its signature classics. Under the astute vision of CEO Cyrille Vigneron, the manufacture grew exponentially in the luxury timepiece division, going so far as to claim the number two spot in global market share in 2021. Success came swiftly, after a series of collection revamps beginning in 2017 with the Tank’s 100th anniversary, and continuing with the Santos de Cartier in 2018, the Santos-Dumont in 2019, the Pasha in 2020, and the Tank Must in 2021. For each of these models, Cartier tasked its director of watchmaking design, Marie-Laure Cérède, to invigorate the aesthetics without veering from its core identity — and she had clearly delivered on every front.

Specifically, the new Santos de Cartier swapped out its boxy frame for a sleeker, more elegant silhouette. With fluid curves linking the case much more closely with the bracelet, this iconic watch has since become a top contender in the sports-chic timepiece category. The Santos de Cartier’s revamp also set the tone for the rejuvenation of its sister model, the Santos-Dumont, which used to be perceived as the less popular of the two Santos watches — but not anymore. The facelifted Santos-Dumont XL proposed a thinner bezel with smaller exposed screws, slightly elongated Roman numerals, and a swoonworthy ultra-thin profile that few collectors could resist, especially when Cartier sweetened the deal with a mechanical ultra- thin movement.

Of course, the maison would not neglect the Tank — its eternal icon and a watch of many faces. Beginning with a re-evaluation of the Tank Louis Cartier, Cartier established the premium status of this watch with gloriously rounded and polished brancards and a case in precious metals only. Thereafter, it reintroduced the Tank Must, which serves as the new entry-level Tank, yet offers all the trappings of a finely crafted Cartier timepiece. Most talked about was the SolarBeat movement, which brilliantly uses a perforated dial featuring cutouts in Roman numerals to allow UV light to charge up the solar panel underneath.

So it is with such a measured and methodical approach that Cartier refreshed its house icons, while retelling their individual stories to lifelong fans and new aficionados alike. Then, very naturally, these watches began to formulate their very own lexicon in haute horlogerie, which will, like all languages, continuously evolve and grow.

Up in the air: Santos-Dumont Skeleton Micro-Rotor

An ode to the origin story of how Cartier made its very first wristwatch, the Santos-Dumont bridges utility and style with a finesse of which all other aviation timepieces could only dream. By now everybody knows the story, but it’s such a good one we’ll retell it with great pleasure. In the pioneering years of aviation, Alberto Santos-Dumont contributed immensely to the endeavor. The French- Brazilian aristocrat who was living in Paris independently designed and built several airships and air flyers, entering them in important competitions and piloting all of them by himself. Time was of the essence for these events and pocket watches of the time were a major hassle for an aviator who’s trying to keep both hands on the controls and one eye on the clock.

Santos-Dumont Skeleton Micro-Rotor in yellow gold with blue lacquer

Santos-Dumont was an exceedingly dapper gentleman and well known among the Parisian elite, not least for his penchant for bussing around town in Baladeuse, his light airship which resembled a miniature blimp with a carrier underneath. He was a good friend of Louis Cartier and one evening over supper at Maxim’s — the swanky bistro of choice for all Parisian celebrities and socialites — he related the need for a practical timekeeper that would allow him to read the time easily and clearly without having to take his hands off the controls. Enthused by the challenge, Cartier produced a square-shaped timepiece cased in gold that was attached to an elegant leather strap to be worn around the wrist — and voilà, the Cartier Santos was born.

Of course, the entire process wasn’t quite so simple; the eldest Cartier brother obsessed for days on the watch, seeking a design that was practical, masculine yet elegant, as befits the immaculate style of Santos-Dumont. The final result was enduringly timeless, to say the least, and this spirit of innovation guides every Cartier watch designer to this day.

Santos-Dumont Skeleton Micro-Rotor in stainless steel

While the Santos de Cartier exudes a sports-chic appeal, the Santos-Dumont is foremost about elegance with some discreet hints to its shared aviation roots, which makes perfect sense seeing as it is named directly after the man without whom it would never come to exist, and who was known as much for his contribution to aviation history as he was for his distinctive — albeit at times quirky — sartorial choices. Whether he’s out and about town, practicing sports or taking one of his latest inventions across the sky, Alberto Santos-Dumont his diminutive five-foot-four frame was always impeccably attired. One of his favorite accessories of all time is a Panama hat; he proudly wore it crumpled after he used it to put out a small fire on the Baladeuse. You can actually see Santos-Dumont’s hat today at the Museu Paulista of São Paulo University in Brazil.

In fact, the Panama hat was such a beloved element of Santos-Dumont’s style that in 2020, Cartier paid it tribute with a limited-edition Santos-Dumont model, La Demoiselle, featuring a dial inspired by the unique color and texture of a Panama hat, and delivered with a Panama- weave strap.

And the intrepid aviator continues to inspire Cartier’s latest Santos-Dumont watches. With tongue firmly in cheek, he appears to have made a cameo appearance in the Santos-Dumont Skeleton Micro-Rotor — a watch that unites exquisite watchmaking with limitless creativity and fastidious artistry.

Indeed, skeletonization at Cartier has always been undertaken with a modern approach to aesthetics — recall past models such as the Santos de Cartier Skeleton where bridges have been etched and carved out to take the shape of Roman numerals. With the Santos-Dumont Skeleton Micro-Rotor, the same principles apply, except that Cartier has reduced the bridges even further, going for indexes rather than Roman numerals. Yet a sense of harmony prevails in the specially developed caliber 9629 MC as the openworking manages to echo the shape of the case. Most alluringly, it exposes an aperture on the bottom left that is large enough to display the entire platinum micro-rotor without so much as a sliver of obstruction. The caliber 9629 MC took Cartier almost two years to construct and comprises 212 components.

Micro-rotors in general are always a pleasure to behold — but this one is extra special, adorned with a mini Demoiselle plane designed by Santos-Dumont in 1907. As it swivels and rotates to the movements of the wrist, this little memento acts as a poetic reminder of the aviator’s innovative spirit, having designed more than 22 flying machines and making every one of those blueprints public information — all in the name of passion. The Santos- Dumont Skeleton Micro-Rotor is crafted in either rose gold or stainless steel, along with a 150-piece limited-edition model made in yellow gold with a beautiful navy-blue lacquer applied on the bezel and lugs.

Hidden gems: Santos-Dumont XL

One of Cartier’s most fabulous stories tells of how the maison came to be known as the “King of Jewelers and Jeweler of Kings”. It was none other than King Edward VII who made the proclamation about Cartier. A regular customer of the maison, the King had even suggested that the Cartier brothers should open a store in London, which they eventually did; furthermore, they fulfilled a magnificent order of 27 tiaras just in time for the King’s coronation in 1902. Thereafter King Edward VII issued a Royal Warrant to Cartier in 1904, which then attracted a stream of Royal Warrants issued by other notable aristocratic houses across Europe and the rest of the world. In modern plebeian terms, it’s like being tagged on social media by a major celebrity and suddenly gaining thousands of new followers.

Indeed, Cartier’s jewelry heritage provides a veritable fount of inspiration and ideas for the maison’s designers to this day, which creates a distinctive style that is woven into everything Cartier creates, from everyday classics to the most consummate works of haute horlogerie and haute joaillerie. It’s all in the small details: a blue or red cabochon sapphire on the crown; the signature Roman numerals; or that red-blue-green color trio, which sounds quite innocuous but that everybody knows is quintessentially Cartier, originating from the maison’s legendary Tutti Frutti jewelry.

Referencing the Tutti Frutti collection, Cartier has been creating some of its timepieces in sets of three, dressed in ruby red, sapphire blue and emerald green. The 2021 Tank Must collection espoused this vibrant color palette, combining stainless steel cases with lacquered dials. On the higher end of the horological spectrum, Cartier has also imagined its dreamily luxurious Révélation d’une Panthère timepiece in the Tutti Frutti colors, and the idea continues to take root in the latest Santos-Dumont XL collection — but with a delightful twist that resonates even more strongly with the Cartier’s DNA.

Ornamental stone indexes and lacquer painted cases join the Santos-Dumont collection

This time, Cartier presented the red-blue-green livery not with colored lacquer, but with beautiful natural ornamental stones, thus discreetly but powerfully emphasizing its strong lapidary and gem-crafting savoir-faire finely honed through the decades. As the only model in the collection powered by a mechanical movement, the Santos-Dumont XL is highly popular with watch aficionados and much loved for its refined design with elongated Roman numerals. Here, instead of black transfers, applied indexes are meticulously cut from red jasper, blue dumotierite and green jade. Each version comes with a leather strap and crown cabochon that matches the indexes — red ruby, blue sapphire and green jade. Cartier has also dedicated one precious metal for each model: red in platinum, blue in yellow gold and green in rose gold.

Perfect trinity: Tank Louis Cartier

The simplicity of its design and timelessness of its allure betray the complex nature and exquisite lore surrounding the inimitable Cartier Trinity. Some say it came about from the French artist Jean Cocteau who, after a heady evening, envisioned a jewelry piece inspired by the rings of Saturn. Others trace it back to the symbolism of Borromean rings representing strength in unity. What the true story behind its birth was, nobody really knows; but what is less ambiguous is the fact that this iconic and classic Cartier design emerged from the mind of Louis Cartier himself, in 1924, and became an instant cult accessory among the Parisian elite the moment Cocteau was seen sporting not one but two of them around his pinkie finger — a style embraced later on by none other than the Duke of Windsor, Edward VIII.

Ever the visionary, Louis Cartier had also just created the Tank watch seven years prior in 1917. He took Cartier designs from the Belle Epoque period through to the Art Nouveau and Art Deco eras. Many of his most venerated creations date from this prolific period, yet looking at all of them today, none have aged a day since the early 20th century. The Trinity ring with its white (formerly platinum), rose and yellow gold interlocking rings remain true to its original form and has come to influence a number of Cartier timepieces as well, such as the Les Must de Cartier watches of the 1970s. The Trinity’s distinctive aesthetic has recently returned to the fore, when the maison combined two Louis Cartier original creations, the Tank and the Trinity, into one elegant timepiece.

Paying tribute to the 1970s Les Must de Cartier models, the new Tank Louis Cartier collection includes two versions that offer dials featuring a Trinity-inspired design, but imbued with a contemporary spirit. In these watches, the familiar white-rose-yellow gold aesthetic appears to have gone through a futuristic, highly graphical metamorphosis, rendering it all but completely reinvented. The first dial, cased in yellow gold, is fully composed of engraved miniature squares like a mosaic effect, which gradually changes in hue from white gold at the top to yellow gold in the middle, and then rose gold at the bottom. But Cartier’s creative ingenuity truly takes flight in the way the maison actually worked on the minute finishes of each of these tiny surfaces. In addition to a sunburst finish emanating from the central pinion, there is also a scattering of polished and matte finished squares providing nuances in color and texture that elevate what would have been a simple concept to a bona fide work of art.

White, rose and yellow gold tone motifs bring a conviviality to the watches

A second model in rose gold continues with this artful interpretation of the Cartier Trinity, presenting yet another geometrical motif featuring the white-rose- yellow gold aesthetic through a decidedly modern lens. For this watch, the maison’s designers have created an elegant repeated pattern that draws reference from an extremely supple micro-link bracelet such as that of the breathtaking new Tank Normale. Adding a final touch of finesse is the glorious sunburst finish extending from the central pinion to the edges of the dial. To all Cartier Tank aficionados searching for something truly unique, your search ends here.

In full color: Tank Louis Cartier

The quintessential Cartier watch is unequivocally the Tank — specifically the Tank Louis Cartier with its graceful proportions and gloriously straight brancards that have been smooth polished and rounded to perfection. A picture of timeless elegance, it is usually inseparable from the signature Cartier Roman numerals, railroad-style minute track, blued steel sword-shaped hands, and fluted crown set with a blue sapphire crystal cabochon for gold models and red sapphire crystal for the platinum ones. Yet there are many more ways than one to delve into the inner world of the Tank Louis Cartier, which is otherwise known as the watch of a thousand faces.

Apart from the archetypal design, there are numerous iterations of the Tank Louis Cartier, each revealing a different aspect of the maison. Lacquer dial models, for instance, hark back to the exuberant ’70s when watches were highly expressive in terms of design. During this era, Cartier introduced a wide variety of Tank models across a plethora of different colors, lending a vibrant personality to the watch through the use of lacquer and occasionally ornamental stones. These are extremely collectible today, and lately, the maison has revisited this design, showcasing a modern take on the retro classic in the wildly popular Tank Must and Tank Louis Cartier collections.

Following a series of three Tank Must models graced with red, blue and green lacquer dials, as well as one more in black, Cartier proposed the Tank Louis Cartier in yellow gold with a beautiful black lacquer dial and gilt hands that is an absolute masterclass in elegance. This year, the maison continues to build upon the collection with two additions also in yellow gold, but featuring burgundy red and forest green dials that lend a completely different character to the Tank Louis Cartier. Paired with matching alligator straps, these watches make a strong wrist statement and are tacit expressions of one’s deep appreciation for Cartier the manufacture as well as its timepieces, and not forgetting its jewelry creations too.

Tank Louis Cartier

Apart from these retro-chic lacquer dials, Cartier has also created contemporary iterations of the Tank Louis Cartier, proving that the maison doesn’t only look to the past for inspiration. Taking an artistic approach to watch creation, it has since also released two fascinating new dials in gray or red that are cleverly designed to act like optical illusions. Cartier’s designers used a combination of angles, as well as light and dark hues, to create a trompe d’œil effect of descending layers while the four elongated Roman numerals appear to be floating in the empty space above. Indeed, even within the limited confines of the Tank Louis Cartier’s immaculate dial, or the skillfully openworked movement of the Santos-Dumont Skeleton, Cartier always finds a way to project our gaze — and imagination — onto a limitless universe.

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FROM THE SHOP

Unimatic

Limited Edition

Unimatic x Revolution U1 Milsub "Blue"

$1,220.00

TECH SPECS

Movement	Self-winding caliber SW200-1b; 41-hour power reserve
Functions	Hours, minutes and seconds
Case	41.5mm; 316 steel with Cerulean blue stonewashed Cerakote coating, matte vintage navy aluminium bezel insert; water resistant to 300m
Dial	Matte vintage navy; hour markers outlined in Super-LumiNova
Strap	Vintage navy TPU-coated nylon; additional vintage navy nylon with fabric keepers
Limited Edition	Limited Edition of 200 pieces

The post Show and Tell with the Cartier Santos-Dumont and Tank appeared first on Revolution Watch.

GPHG 2023: Who won what, and more importantly, why

Stephen Pulvirent — Thu, 16 Nov 2023 18:07:01 +0000

GPHG 2023: Who won what, and more importantly, why

Revolution’s West Coast Editor-at-Large Stephen Pulvirent shares his thoughts and reactions on all the winning watches of the 2023 GPHG.

News

By Stephen Pulvirent

Nov 17, 2023

Before the curtain had fully closed on this year’s GPHG awards ceremony in Geneva, I sat down and recorded a short video with some of my first thoughts on the results. But now that the dust has settled a bit, I thought it would be worth walking through the GPHG 2023 winners, watch by watch, to see what we can learn from the results. I’m going to go in the order in which the prizes were awarded, so buckle up and let’s go.

Ladies’ Prize – Piaget Hidden Treasures

Other nominees include Arnold & Son Perpetual Moon 38 Mintnight, Beauregard Lili Bouton, Hermès Arceau Petite lune, Van Cleef & Arpels Ludo Secret watch, XRby La Montre d’Art Espressione Romantica

I was very happy to see that none of the watches in this year’s Ladies’ category fell into the dreaded “shrink it and pink it” class of watches. All six watches were intentionally designed and have something to say.

That said, I was thrilled to see the Piaget win. There are few watchmakers with a history of making high jewelry watches that rival Piaget’s and the Hidden Treasures’ combination of gold work, stone craft, and gem setting really stood out to me. I would imagine that the Hermès and the Van Cleef also received a number of first place votes and I wouldn’t be surprised if the final tally was tight.

Ladies’ Complication Prize – Dior Montres Grand Soir Automate Etoile de Monsieur Dior

Other nominees include Andersen Genève Arctic Sunrise Andersen Genève x BCHH, Chopard Imperiale Jumping Hour, Gucci Timepieces G-Timeless Planetarium with diamond-studded stars, IWC Schaffhausen Portofino Perpetual Calendar, Louis Vuitton Tambour Fiery Heart Automata

Talk about a strange final field of watches. The six shortlisted pieces ranged from understated to garish and each appeared to be more mechanically complicated than the next (no surprise, given the category), and more than one would fall under a more “gender neutral” heading if I were asked to weigh in.

Along with Van Cleef & Arpels, Dior is one of the more underappreciated watchmakers when it comes to creative, poetic complications. Hopefully an award like this shines some light on Dior as a watchmaker and encourages others to think outside the box.

Men’s Complication Prize – Voutilainen World Timer

Other nominees include ArtyA Tiny Purity Tourbillon Chameleon, Audemars Piguet Royal Oak Concept Split-Seconds Chronograph GMT Large Date, Bovet 1822 Récital 27, Parmigiani Fleurier Tonda PF Minute Rattrapante, Piaget Polo Perpetual Calendar Ultra-Thin, Voutilainen World Timer

Some categories have obvious winners. And then there’s this category. The problem here (if you can call it a problem) is that each of the six watches here takes a completely different approach to creating a “complicated” watch. So what will the jury reward? Is it pure mechanical insanity? Is it the quality of watchmaking and craftsmanship? Is it wearability in the face of complexity?

It seems that the jury decided to weigh these factors and reward the watch that best balanced them. The square-ish case of Voutilainen’s World Time is non-traditional, but the level of craftsmanship in the watch is next-to-none and the ability to create something artistic but not over-the-top has long been a strength of Kari Voutilainen and his team.

Iconic Prize – Ulysse Nardin Freak One

Other nominees include Audemars Piguet Royal Oak Offshore Selfwinding Chronograph, Breitling Navitimer 01 Chronograph 41, Chopard L.U.C 1860, IWC Schaffhausen Ingenieur Automatic 40, TAG Heuer Carrera Chronograph, Ulysse Nardin Freak One

Talk about another crowded field. Offshore, Navitimer, L.U.C, Ingenieur, Carrera, Freak. That’s a murderers’ row of all-time greats. I don’t envy the jury on this one. I’m not too shocked to see Ulysse Nardin take home the trophy for the Freak One, given its impact on the last two decades of watchmaking, but I’d be willing to bet that the voting was close.

In my opinion, this generation of TAG Heuer Carrera is the best since the pre-TAG days and the latest Ingenieur is a masterclass from IWC of how to design a watch inspired by the past without making a straight-up reissue of a piece from the archive. And then the ceramic Beast? I could keep going…

Tourbillon Prize – Laurent Ferrier Grand Sport Tourbillon Pursuit

Other nominees include Arnold & Son Ultrathin Tourbillon Gold, Bovet 1822 Virtuoso XI, Bulgari Octo Roma Striking Papillon Tourbillon, HYT Conical Tourbillon Infinity Sapphires, Parmigiani Fleurier Tonda PF Flying Tourbillon

Years ago, when I got a preview of the very first Laurent Ferrier Grand Sport Tourbillon, I’ll admit I didn’t get it at all. The design wasn’t for me and I didn’t feel the connection between the watch and the rest of the brand. It just didn’t click and I kind of moved on mentally, rarely thinking about the watch in the years that followed.

And then this year’s version of the watch came out and now I think I get it. Will I be queuing up to order a piece? No, it’s still not for me, but I completely understand why people are so excited about it. In the face of everyone scrambling to create high complications in sport watch packages, Mr. Ferrier is looking very ahead of his time. With that in mind, I bet the Parmigiani Fleurier Tonda PF Flying Tourbillon is our runner-up here, but we’ll never know for sure.

Calendar & Astronomy Prize – Bovet 1822 Récital 20 Astérium

Other nominees include Felipe Pikullik Moon phase 1, IWC Schaffhausen Big Pilot’s Watch Perpetual Calendar Top Gun Lake Tahoe, Habring2 x Massena LAB Chrono Felix Perpetual, Parmigiani Fleurier Tonda PF Xiali Chinese Calendar, Piaget Polo Perpetual Calendar Obsidian

Bovet has quite the history in this category, and with these kinds of watches, so the win is no big surprise. In fact, I would kind of been shocked if anything else had won here.

But that doesn’t mean the other watches are undeserving. The Récital 20 Astérium is a serious feat of watchmaking, but personally I think I’d be more excited to wear any of the other five finalists myself. I’ve always loved how IWC makes perpetual calendars approachable to non-nerds with the Big Pilot’s QPs and the Habring² x Massena LAB Chrono Felix Perpetual has to be one of the best value-driven watches in the entire GPHG this year. And that 3D moon phase in the Felipe Pikullik? Don’t even get me started.

Chronograph Prize – Petermann Bédat Chronographe Rattrapante

Other nominees include Audemars Piguet Royal Oak Offshore Selfwinding Flying Tourbillon Chronograph, De Bethune DB Eight, Grand Seiko Tentagraph, Singer Reimagined 1969 Chrono, TAG Heuer Carrera Chronograph Skipper

This is another one of those “what are we rewarding here” categories. Is this about creating the most innovative chronograph? The most complicated? The most wearable? Ultimately, I think the jury went the “go big or go home” route with the mind-blowing Petermann Bédat splitter, and I don’t know that I could have voted for anything else in good conscience had I been in the room with them. The watch is fantastic on nearly every level and I think it was a genuine contender for the Aiguille d’Or too. It seems my colleagues here at Revolution would agree, since the watch was also named Best Chronograph in the 2023 Revo Awards earlier last week.

But even as an avowed non-chronograph guy, there’s a lot to like here. Grand Seiko’s Tentagraph answered the decades-long prayers from collectors looking for a fully mechanical GS chronograph, and it answered them in style; De Bethune made a watch that hides a great deal of complexity in a simple, elegant design; and TAG Heuer revived a fan-favorite with a splash of color. I’d bet that the first place votes were pretty aligned across the jury, but down ballot I bet nearly every watch got some well-deserved attention.

Sports Prize – Tudor Pelagos 39

Other nominees include Chopard Alpine Eagle Cadence 8HF, Doxa Army, Grönefeld 1969 DeltaWorks, IWC Schaffhausen Ingenieur Automatic 40, TAG Heuer Monza Flyback Chronometer

Tudor winning the sports watch category? Not exactly groundbreaking or shocking at first glance. But then you look at the watches. The Pelagos 39 was the second least expensive watch in the field, which was mostly populated by what I’d call “elevated” sport watches, such as the titanium Ingenieur from IWC, the Monza Flyback from TAG, and even the 1969 DeltaWorks from Grönefeld.

For a simple, closed-back, three-hand watch to take the prize here is a statement from the jury. It’s the watch cognoscenti saying “Sure, your luxury sport watches are great, but let’s get back to basics.” The Pelagos 39 is about as good an everyday watch as anyone could want, with its clean design, great quality, and classic nature. I was certainly happy to see it acknowledged as such.

Jewelry Prize – Bulgari Serpenti Cleopatra

Other nominees include Chopard Pure Happiness, Damiani Margherita Watch, Gucci Timepieces G-Timeless Planetarium with colored stones, Piaget Swinging Sautoir, Van Cleef & Arpels Ludo Secret Mystery Set emeralds watch

I’ll acknowledge my own bias here – If there’s a Serpenti in a category, I’m going to have a hard time rooting for anything else. Sure, the Serpenti Cleopatra is more a snake-themed cuff vs. a zoological bangle with a watch concealed in the head, but I still love it and I’m still thrilled to see it take home this prize.

Setting my own proclivities for snake-diamonds aside, Piaget and Van Cleef both had incredible contenders and ones that I’d happily have cheered for under other circumstances. As with the Ladies’ and Ladies’ Complications categories, the creativity seems to be getting better year-over-year and I’m excited to see where the industry continues to go with watches like these.

Artistic Crafts Prize – Piaget Altiplano Métier d’Art Undulata

Other nominees include Andersen Genève Jumping Hours Rising Sun Edition, Louis Moinet Savanna Tourbillon Tiger, Rudis Sylva Hymne d’Orient, Sarpaneva Watches Näkki, Van Cleef & Arpels Lady Duo de Lions watch

For someone like myself, for whom three hands is almost too much on a watch, this category is always a tough one to assess. But, as with the brand’s other win, I think Piaget made a very strong case here, with a watch combining multiple crafts and complicated watchmaking, all in a piece that you could wear for a night out without attracting too much attention. It’s a case of a brand playing to its strengths, having the conviction to employ traditional crafts in non-traditional ways, and really going for it. I’ll always applaud that.

Petite Aiguille – Christopher Ward London C1 Bel Canto

Other nominees include Bulgari Octo Roma Automatic, Habring2 Chrono-Felix Top-Second, Le Régulateur Louis Erard x Konstantin Chaykin, Magraph by Massena LAB x Raúl Pagès, Tudor Black Bay

I remember when this watch was released, the online watch community seemed almost dumbfounded. A chiming watch at that price? From an independent brand? What’s the catch? (Spoiler alert: It turns out there isn’t one.) This award seems a fitting way to acknowledge the Bel Canto and the fervor it stirred up on Instagram and elsewhere.

It might sound a bit wishy-washy, but this is one of the few categories where I legitimately think any of the six watches could have won. That’s not to take away from Christopher Ward’s victory, but this is an outstanding collection of watches that shows the variety available to collectors, even with a budget in mind. You want to feel optimistic about the future of watches? Look no further than this short list.

Challenge Prize – Raymond Weil Millésime Automatic Small Seconds

Other nominees include Kurono Tokyo GMT 1, Nomos Glashütte Club Campus 38 electric green, Seiko 1968 Diver’s Modern Re-interpretation GMT, Studio Underd0g Watermel0n (Perpétual Limited Edition), Timeless Swiss Watch HMS 003

Further restricting the price ceiling is the Challenge category, and this is where things start to get really funky. The Raymond Weil makes perfect sense to me as the jury’s selection, with its classic good looks and vintage-style charm. It’s not a watch I’ve seen in person, but it looks every bit the part of a Challenge winner and it’s the sort of watch I’m instantly drawn to.

However, personally, I think both of the Japanese GMT watches in this field are worth another look. The 1968 Diver from Seiko and the GMT 1 from Kurono Tokyo are both watches I find extremely compelling and pieces where the price tag offers reverse sticker-shock. I’d love to see the Challenge category evolve, adding some kind of design component in addition to the price requirement, but that’s a conversation for another time.

Mechanical Clock – L’Epée 1839 Time Fast II Chrome

Other nominees include Alain Silberstein Travel Alarm Clock iZman, Maison Alcée Persée Azur, Matthew Norman Diaphane, The Unnamed Society The Champion Macassar, Van Cleef & Arpels Éveil du Cyclamen Automaton

A mechanical clock that looks like a chrome race car with an idiosyncratic time display? Sure. I’m not at all surprised that this won the category. L’Epée makes absolutely incredible clocks and their ability to tap into the things that watch collectors love is unmatched. Talk about a crowd pleaser.

But for me, the Alain Silberstein Travel Alarm Clock iZman is something truly epic. It’s less flashy, it has a narrower appeal, and it’s much less commercial. But I’m not sure I could have voted for anything else with this on the ticket. Now to start saving those pennies…

Chronometry Prize – Ferdinand Berthoud Chronomètre FB 2SPC

There were no other nominees from this category; This watch was originally a nominee for Best Men’s Watch.

Similar to seeing a Bovet in the Astronomical category, you can’t sleep on a Ferdinand Berthoud when it comes to the Chronometry Prize. The brand took home the award in both 2019 and 2020, and was the odds-on favorite again this year. You might need a degree from WOSTEP to fully understand the Chronomètre FB 3SPC, but I think here that’s a feature and not a bug.

I know it’s not part of the criteria for this award, per se, but I have always loved the way Ferdinand Berthoud nods to historic chronometers and clocks in its designs. From the dial layouts to the finishing, there’s an air of history about these watches that I find very alluring.

Horological Revelation – Simone Brette Chronomètre Artisans

There were no other nominees from this category; This watch was originally a nominee for Best Men’s Watch.

There are few questions I get asked more than “Have you seen [Insert New Watch Name Here].” And there are few watches over the last couple of years that have elicited more such inquiries than the Chronomètre Artisans. From collectors who normally favor big brands to the indy nuts, everyone wanted to talk about this watch, Simon Brette’s approach to his brand, and what this might tell us about the future of watchmaking.

I don’t have answers to all of those questions right now, but what I can say is that the one time I was lucky enough to see one of these in the metal on a friend’s wrist, my jaw hit the floor. The Chronomètre Artisans is a stunning watch made to a very high level in an interesting way. What more could you want, really? (There’s a reason Simon Brette was also awarded the “Rising Star” prize in the 2023 Revo Awards too.)

To say I can’t wait to see Brette’s next creation is quite the understatement.

Audacity Prize – Maison Alcée Persée Azur

There were no other nominees from this category; This watch was originally a nominee for the Mechanical Clock Prize.

I’ll admit I had never heard of this clock until I went and did my voting for the GPHG Academy. But it captured my attention immediately. The idea of a fine mechanical clock delivered in a do-it-yourself kit is too cool of an idea to gloss over, especially in the finely controlled world of horology, where brands generally don’t even want a third-party watchmaker looking at your watch.

There were quite a few wristwatches that came to mind for the audacity prize, but nothing even comes close to the Persée Azur. Excellent job by the jury and I hope we see more creativity like this in the future.

Innovation Prize – Hautlence Sphere Series 1

There were no other nominees from this category

I was lucky enough to see a prototype of this sphere-based time display from Hautlence years ago on a visit to Switzerland and it gave me that “how the hell does this work” rush that only a really innovative watch can give. I sat there, closely examining the watch as I adjusted the retrograde minutes hand to give the sphere a spin and move to the next hour. Even after a chat with a watchmaker, I had to give myself over to it still feeling a bit like magic – and, honestly, I like it that way.

As with the Audacity Prize, there were multiple watches that could have competed here, but I can’t fault the jury one bit for selecting this watch. It shows us that we’re still just scratching the surface of mechanical timekeeping and that the future doesn’t have to look (or work) anything like the past.

Aiguille d’Or – Audemars Piguet Code 11.59 Ultra-Complication Universelle RD#4

And that brings us to the grand prize, the Aiguille d’Or. For those of you not familiar with how this award works (and who have miraculously made it this far into this story), this award can go to any watch from any of the categories, deemed to be the “best in show.”

There’s really nothing to quibble with when it comes to Audemars Piguet taking home top honors for the Code 11.59 Ultra-Complication Universelle RD#4 (also named Best Grand Complication in the 2023 Revo Awards). It’s an insanely complicated watch, executed at a super high level, from one of the industry’s great historic watchmakers. It also comes just weeks before the departure of long-time CEO François-Henry Bennahmias, who has been one of the most important people in watchmaking during his tenure. So the timing couldn’t have been better.

We’ll never know for sure, but I’d bet that Simon Brette’s Chronomètre Artisans and Petermann Bédat’s Chronograph Rattrapante were both very high in the voting here. Going into the ceremony, these were my three top picks, though I’d love to know how close the voting was.

If you want to review all of the results for yourself, you can find the full list of shortlisted watches here and the winners right here.

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FROM THE SHOP

Unimatic

Limited Edition

Unimatic x Revolution U1 Milsub "Blue"

$1,220.00

TECH SPECS

Movement	Self-winding caliber SW200-1b; 41-hour power reserve
Functions	Hours, minutes and seconds
Case	41.5mm; 316 steel with Cerulean blue stonewashed Cerakote coating, matte vintage navy aluminium bezel insert; water resistant to 300m
Dial	Matte vintage navy; hour markers outlined in Super-LumiNova
Strap	Vintage navy TPU-coated nylon; additional vintage navy nylon with fabric keepers
Limited Edition	Limited Edition of 200 pieces

The post GPHG 2023: Who won what, and more importantly, why appeared first on Revolution Watch.

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