September 2014 W with Index of All In-Depth Articles Published Online

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watch aficionado

Jaeger-Lecoultre When “excess” is in fact a matter of due measure

Mechanical: BACK TO SIMPLICITY www.watch-aficionado.com

Watch business paper – USA & Canada – VOL.50 N°4 august / september 2014 w With index of all in-depth articles published online

editorial www.watch-aficionado.com Mechanical intelligence

uPierre M. Maillard converts it already has, all those ultra-con- Editor-in-chief nected acolytes who will no doubt bow to its Europa Star greatness and immediately clasp one of its bruited bracelets around their wrists? Or will it also target the disciples of Haute Horlogerie An interesting article that ap- – a wealthier, more cultivated audience more peared recently in The Economist sensitive to traditional luxury? A (“The high-tech world of old- Although some watchmakers dismiss out of world watches”) offered a different take on hand any risk of being swallowed up by the the implications of the approaching tidal technology monster, and others already fear wave of smart watches. The premise of the for their lives, the true outcome will probably HYBRIS MECHANICA 11 – Master Ultra Thin Minute Repeater article is that there is a great deal more in- lie somewhere between the two. Just as the Flying Tourbillon by Jaeger-LeCoultre novation in the art of mechanical watchma- invention of photography did not kill pain- A 41 mm white gold watch with a thickness of 7.9 mm equipped with a Calibre 362 automatic movement with a power reserve of 45 hours. Hours, minutes, minute repeater and king than in supposedly “smart” watches. ting, but transformed it utterly by liberating tourbillon functions, silver grained dial, alligator leather strap, water-resistant to 30 metres. According to The Economist, smart watches it from the shackles of realistic reproduction, www.jaeger-lecoultre.com are no more than a new way of presenting so the arrival of the smart watch, whatever EDITORIAL and adapting existing functions and appli- happens, will undoubtedly transform the art Mechanical Intelligence cations in “a mash-up of phone, activity- and technique of watchmaking. COVER STORY tracker and music-player.” And despite the One positive from The Economist’s article is Jaeger-LeCoultre – When “excess” is in fact a matter of due measure fact that almost two million were sold last that it shows that in the coming hi-tech battle MECHANICAL year, Endeavour Partners in the USA found Swiss watchmaking is not without weapons, Simplicity is a complex business! that one-third of buyers tire of them rapi- and possesses the financial, human and Simply Talking Complications with Ludwig Oechslin dly, and simply stop wearing them within technical resources to meet the new chal- Simply Talking Complications with Stephen Forsey six months. lenges. But in order to meet them in the best Movements: Who will succeed ETA? The Economist takes the contrary view that and smartest way possible, it must avoid Are In-House movements Important? true innovation is to be found in good old- seeking refuge in denial, as it did during Unlocking Alternative Escapements Entry-Level Mechanicals fashioned mechanical watchmaking, stimu- the famous quartz crisis, which came close WORLDWATCHWEB lated by the “vast profits still made in and to sinking the entire industry. Arrogance is What is driving Online Interest for the Luxury Watch around Switzerland’s ‘watch valley’,” and a poor counsellor. Nevertheless, the idea Industry’s “High Range” Brands? by the “unexpected uses of untraditional that everyone and everything should be BRANDS materials, that may in time transform the constantly connected (because in addition A Courageous Trio industry.” to smart watches we should expect to see Straight talk with Gucci’s Patrizio Di Marco In support of its thesis, The Economist fre- smart refrigerators, smart cars, smart baby’s LETTER FROM CHINA quently points to Swatch’s Sistem51 as re- bottles, etc.) will eventually be undone by 25th Shenzen watch and clock fair – Je t’aime, moi non plus presenting a major breakthrough (see our its own ubiquity. Not everyone wants to be LETTER FROM USA discussion of mechanical simplification in permanently plugged in, and the number The recovery is coming, but it’s not here yet this issue). Above all, however, it enthuses who do is probably diminishing. One of the RETAILER PROFILE about the revolutionary use of silicon, ci- virtues of traditional watchmaking is the Tourneau – Ira Melnitsky ting Girard-Perregaux’ constant force esca- mechanical poetry that connects us not to SERVICE PLEASE pement as an example. the internet but to the cosmos, to the myste- Service Experiences: Where the rubber meets the road at the retail level – Part 2 That must all be very reassuring to our watch- ries of time and beauty. And therein perhaps p LAKIN@LARGE makers, surely? lies its greatest strength. Quelle surprise: a freebie! Not really. The new Messiah whose coming SPOTLIGHT is most anxiously awaited bears the name The World’s first hybrid time-keeping system by Casio of Apple. Will the California-based giant be content only to address the many loyal Read all articles on www.watch-aficionado.com COVER STORY

Jaeger-LeCoultre – When “excess” is in fact a matter of due measure

Hybris Mechanica 11 – Master Ultra Thin Minute Repeater Flying Tourbillon

For the Ancient Greeks, hybris (also referred to as hubris) was a flaw. It was a sign of immoderation, of excess, of the pride of Man in defying the Gods. By regrouping its most striking mechanical accomplishments under the provocative name of Hybris Mechanica, is Jaeger-LeCoultre displaying immoderation, excess and pride? While one might be tempted to suspect as much, the Master Ultra Thin Minute Repeater Flying Tourbillon, the 11th creation to take its place in this highly exclusive family of Hybris Mechanica is there to prove the exact opposite. Because sometimes “excess” is in fact an absolute quest for “due measure”. Such is indeed the case here, as we will attempt to demonstrate.

Everything about this exceptional timepiece converges towards E a central goal: that of expressing outstanding mechanical complexity in a su- premely simple, pared-down and slender form – the aim being to open up a new era for Grande cially for a Grande Complication watch, implies thinnest in the world. This was to be the start- Complication models: one of exceptional slim- overcoming a whole series of obstacles relating point in the epic pursuit of slenderness; the ness and finesse. Beneath the pure, uncluttered ing both to technical horological factors and first in a long series of ultra-thin movements face of the Master Ultra Thin Minute Repeater to the art of creating a perfect exterior. One that would make their mark on the history of Flying Tourbillon, and between its taut, slim hundred years of practice in the field of ultra- Jaeger-LeCoultre and that of the watch indus- shapes, beats a masterful automatic movement thin watches are none too many to succeed in try as a whole. It is well worth highlighting the measuring just 4.8 mm thick and which fully overcoming all the difficulties implied in such very first movements that began this proud lives up to its ultra-thin epithet and combines a process. lineage: LeCoultre Calibre 136 with minute a flying tourbillon with a minute repeater. With repeater (1907); Lecoultre Calibre 6EB, the a total thickness of just 7.9 mm including the The longstanding first ultra-thin rectangular movement; as well watch glass, the Ultra Thin Minute Repeater quest for slenderness as LeCoultre Calibre 11CCVEP, an astonishing Flying Tourbillon is indeed the thinnest minute The story of this quest for slenderness began ultra-thin chronograph (1908). repeater in its category. in Paris in 1907. Two men – Edmond Jaeger, Throughout its history, the Manufacture Jaeger- However, accomplishing this, heralding a new a Parisian entrepreneur; and Jacques-David LeCoultre has relentlessly pursued this horo- chapter in the grand saga of mechanical horol- LeCoultre, a watchmaker from the Vallée de logical quest that is undoubtedly one of the ogy – the era of ultra-thin Grande Complication Joux – had just created a “knife-shaped” pocket most fundamental in this discipline – since models – and achieving such excellent “due watch housing LeCoultre Calibre 135 measur- anyone dealing with thinness must also ad- measure” called for the hybris of an extremely ing just 1.38 mm thin. This absolute record in dress another vital horological principle: that long history. A history marked by the progres- its era was Jacques-David LeCoultre’s horolog- of reliability. Case and movement, functions sive accumulation of skills and knowledge ical response to the challenge set by Edmond and functionality, construction and the watch through a steady stream of inventions and in- Jaeger four years earlier: to create the thinnest exterior thereby all stem from the same con- novations. The objective of slenderness, espe- and most reliable possible watch – in fact the struction intent.

watch aficionado | 3 COVER STORY

In a traditional tourbillon, the balance wheel is The scientific quest for held inside a carriage supported by an upper the best possible sound bridge; whereas this brand-new flying tourbil- This retractable pushbutton winds a minute lon entirely does away with any upper bridge. repeater that is also a concentrated blend of The carriage has apparently vanished, reduced innovations relating to the power of the sound to an absolute minimum and positioned at the emitted, to its quality, a s well as to the rhyth- back of the balance wheel, which therefore ap- mical simplification of the sound sequences. pears to by “flying” through space in solitary A traditional minute repeater sounds the hours, splendour. This unusual architecture provides quarters and minutes in that order. At 08:17 a spectacular plunging view into the heart of for example, it will strike the hours gong eight this system with its steadily beating, magnifi- times, the quarters gong once, and the min- cently blued balance spring. This entirely hand- utes gong twice. However, at 08:12, in the ab- crafted, high-performance cylindrical balance sence of quarters, such a traditional repeater spring is equipped with two terminal curves will strike the hours gong eight times, pause ensuring perfect concentric ‘breathing’ and to “let the quarter slip by” before striking the thus extreme precision (patent registered). minutes gong 12 times. In the new system The avant-garde nature of this model does not developed by Jaeger-LeCoultre, this “silent stop there, since accommodating an automatic timelapse” between the hours and minutes winding system within an ultra-thin case is a is simply eliminated, thereby offering the very tough challenge that implies entirely rethinking first uninterrupted and entirely logical audi- the structure of the movement. The automatic tory time reading. The power and the quality winding system designed to power the Master of the sound thus emitted have also been the Ultra Thin Minute Repeater Flying Tourbillon is object of intense acoustic research that the A crowning achievement of the peripheral type. The winding is thus han- Manufacture has been conducting in a strictly heralding a new era dled by a platinum ring mounted on a “huge” scientific manner for several years already. While the new Master Ultra Thin Minute circular ball bearing mechanism that no longer Traditionally, the sound is made by a simple Repeater Flying Tourbillon is indeed the fruit oscillates beneath the movement, but instead hammer striking the gong, off which it rebounds. of this history, it surpasses all that has gone around it. This constantly oscillating ring is vis- In this instance, this strike has been optimised before and represents a crowning accomplish- ible through the openings dotted around the by means of duly patented trebuchet hammers, ment that is a compendium of avant-garde rim of the grained silver-toned dial. inspired by medieval catapults of which the innovations (protected by eight patents, in- strength was strongly increased by the mo- cluding six new pending patents). These inno- A new winding system bile section containing the projectile. Due to vations relate to the precision of the watch, its This ingenious peripheral oscillating weight sys- this system of trebuchet hammers, the strike reliability, the unusual architecture of its flying tem paved the way for another innovation. Minute is clean, without any rebound and with higher tourbillon, to the strength and crystal-clear repeater mechanisms are generally wound via a energy transmission (80% compared with just tone of the sound it emits, the striking mecha- trigger or slide-piece placed on the side of the 10 to 30% for a classic hammer). Moreover, nism activation and winding system, the taut case. In this model, the traditional slide-piece these hammers strike all-of-a-piece gongs with architecture and the finishing of its movement, is replaced by a retractable single pushbutton a square rather than round cross-section, there- and naturally also to its intrinsic slenderness. measuring just 2 mm thick (registered patent). by increasing the surface in contact with the This retractable winding pushbutton located at hammer and ensuring unprecedented strength Let’s begin with the tourbillon. Far from being 10 o’clock on the side of the watch is secured by of the sound thus emitted. The transmission of a classic construction, its highly original archi- a tiny latch at 8 o’clock. It is discreet, ergonomic, this sound is further enhanced by a crystal gong tecture not only enables reduced thickness, but serves to wind the striking mechanism in just directly welded to the sapphire crystal to which also ensures complete visibility of this steadily one push, guarantees perfect water resistance it directly transmits its vibrations – sapphire be- rotating organ. It is in fact a flying tourbillon (3 atm), as well as offering the additional aes- ing an excellent conductor. The result is a sound featuring a flying-type balance wheel: a world thetic advantage of keeping the case entirely effect of exceptional quality that truly deserves first in itself. smooth, slim and perfectly rounded. to be called crystal clear.

4 | watch aficionado The new Master Ultra Thin Minute Repeater Flying Tourbillon surpasses all that has gone before and represents a crowning accomplishment that is a compendium of avant-garde innovations. A tribute to tradition This elegant and majestic ultra-thin movement displayed at 6 o’clock, while the rim of the dial Crafted, assembled and decorated by hand, the is housed within an ideally proportioned case is drilled with small regular openings serving to mechanical automatic Jaeger-LeCoultre Calibre measuring 7.9 mm thick and 41 mm in di- observe the rotations of the circular oscillat- 362 powering the Master Ultra Thin Minute ameter. This case is made of 18-carat extra- ing weight segment in finely snailed platinum. Repeater Flying Tourbillon and measuring just white gold, a choice that is both aesthetic and Setting the perfect finishing touch, the welded 4.8 mm thick, represents a considerable sum functional in that white gold is renowned for contact point between the gong heel and the of innovations, as well as referring to the long- its excellent acoustic qualities. The bezel, the sapphire crystal is delicately marked with mu- standing, noble tradition of Jaeger-LeCoultre’s sides and the streamlined lugs are all entirely sical notes. historical pocket watches. The ebauche and the polished by hand. bridges are made of maillechort, a prestigious Available in a 75-piece limited edition, this copper-nickel-zinc alloy distinguished by its pro- The perfectly classical, understated dial also Hybris Mechanica 11 is fitted with a high-end pensity to acquire a magnificent patina over time. evokes the historical lineage and the aesthetic alligator leather strap secured by a pin buckle. Evidenced in the Haute Horlogerie finishes of its similarities with the pocket watches from the parts, the Côtes de Genève decoration of its vari- Manufacture. The traditionally transferred black “Excess” – hybris – is indeed finely concealed ous bridges, the entirely hand-crafted bevelling minute circle and hour-markers stand out clear- beneath an exterior worthy of the most classic (including complex tradition interior angles), the ly against the silver-toned grained finish of the forms of due measure. p extreme care devoted to the aesthetic appear- dial bearing new, subtly longer, delicately craft- ance of this movement is entirely in tune with ed, polished and grained Dauphine-type hands. Discover more on Jaeger-LeCoultre the historical traditions of the Manufacture. The ultra-thin flying tourbillon is theatrically at www.watch-aficionado.com

6 | watch aficionado Back TO SIMPLICITY

Simplicity is a complex business!

thetic features.” Sandro Reginelli, product complex and busy aesthetic seems to be di- In the quest for the truth about what appears to be a and marketing director of Maurice Lacroix, minishing. A new ‘neo-classical’ trend based mechanical “back to basics” movement, Europa Star states “The trend is very clear... We have seen on far more discreet and above all much slim- asked a number of watchmakers to help navigate the it coming for some time, but it is now firmly mer designs has been gaining popularity for complex route that leads to simplicity. established.” Jean-Marc Wiedderecht of several years.” With the participation of Denis Flageollet (De Bethune), Agenhor, an independent manufacturer that But Denis Flageollet, co-founder and direc- François-Paul Journe (FPJ), Edouard Meylan (H. Moser works for a wide variety of clients and there- tor of the technical department of De Bethune, & Cie), Luc Perramond (La Montre Hermès), Sandro fore has a very broad view of the market, has tempers these statements. “I hope one day Reginelli (Maurice Lacroix) and Jean-Marc Wiederrecht a similar take. In his view, “Yes, the number of to be able to confirm this, because mechani- (Agenhor). pieces that are extremely complicated, often cal excess causes nothing but problems, and without any obvious reason, and that have a eventually people lose interest,” he notes, im- plying that there is still some way to go before After years of mechanical excess, a greater degree of moderation is achieved. we appear to be witnessing a Nevertheless, although he rejects “mechani- A return to greater moderation, in cal excess” he argues strongly for “creative both technical and aesthetic terms. The one- excess” which “is always full of good sense upmanship that has prompted designers and and should have the ability to drive us towards watch builders to display the guts of their simplicity. Let us be creative, and we might just timepieces, exaggerate their dimensions and achieve this ‘moderation’!” pile complication upon complication has clearly An interesting exhortation which, as we shall abated, as we saw in Basel this year. see below, leads to an altogether different ob- Simplicity, purity of line and a restrained choi- servation: simplicity is a complex business. ce of materials once again have pride of place for a wide variety of brands and creators in all Is this “return” to greater simplicity price brackets. simply a pendulum effect, or is it here Is this the objective reality as others see it, or to stay? Could there be deeper societal is it merely a subjective impression? or economic reasons for it? To clear things up in our minds, and to gain a better understanding of the phenomenon – if …Continued online that is what it is – Europa Star asked a number An intriguing discussion with six leading of figures from the watchmaking world. watch manufacturers that gives an insight into the surprisingly complicated and con- Are we really witnessing a “back to ba- De Bethune, DB29 Chronographe Monopoussoir Tourbillon tradictory arguments of how complex sim- A tour de force of watchmaking simplification, both aesthetically and mechanically. sics” movement in watchmaking, a return Second, minute and hour markers are arranged concentrically to improve legibility; plicity can be in the creation and design of to greater simplicity and moderation? the lugs are simplified to the extreme to optimise comfort on the wrist; an invisible mechanical watches. hinge gives access to the double case back without affecting the purity of line; and the single button (monopoussoir) is discreetly integrated into the crown at 3 o’clock. Points covered include the arrival of “intel- The feeling that there is a return to simplicity Turning to the movement, the chronograph’s clutch function is the subject of a ligent” watches, the usage and effects of patent for its simplicity and functional advantages; the frequency of the 36,000 is widely shared, and for most observers this vph tourbillon makes it easy to measure to 1/10th of a second; the tourbillon is powerful computer design tools and how trend has not come as a surprise but has been enclosed in a U-shaped framework rather than the usual pillars, which would be too the quest for simplification actually makes bulky to work correctly in a wristwatch; the balance is made up of a silicon centre gradually gaining ground over the last few surrounded with white gold, which is far lighter for the same inertia, and easier to you think more. years. As Luc Perramond, CEO of La Montre calibrate than a traditional screw balance wheel; the hairspring has a simplified flat Discover more about the ins and outs of de- Hermès, notes “for a number of years now coil, which avoids the complexity of a Breguet coil but has the advantage of keep- signing a watch at: ing the centre of gravity perfectly centred and preventing any deformation of the we’ve sensed a return to more authentic ob- hairspring in the event of a shock. jects, without any superfluous technical or aes- www.watch-aficionado.com

watch aficionado | 7 US MARKET

The Recovery is Coming, but it’s not Complete Here Yet

advocates, champions, then you’re doing some- compete with us, but not vice versa. This has With China slowing down, brands are turning to thing right, and that’s always exciting. worked for us and we’ll stay the course. other, more mature markets. The US market, in While we’ve always done really well with Rolex, Honestly, our largest and most extravagant particular, is showing some signs of recovery, though we’re seeing great sales trends with that brand events typically haven’t performed all that well, the turn-around hasn’t been as fast as many would this year. They’ve done some great things with and we’ve tried a lot of them. We are becom- like. The American shows this year in Las Vegas (JCK, product designs and introductions, and that al- ing much more focused on the individual and Swiss Watch and Couture) seemed to have been a little ways helps. Rolex clients are loyal. We’ve always personal attention. We’ll be doing much more slower and not so well attended, but the retailers we done really well with the Rolex Submariner, but in the way of private dinners, VIP events and talked with are still optimistic about the future of the the Datejust II is really strong as well. They just personal connections. Our brand really doesn’t US market. The report includes five US key retailers added a new version that features an all steel resonate well with a mass of people. We focus and what they have to say about their home market: polished bezel that we think is going to sell re- on personal relationships, so when our large, ally well. non-personal events don’t do so well it might just mean that our “real” brand is resonating Scott Bolosky, owner, “Internet sales from non-authorized with clients, and that’s a good thing.” Clarkson Jewelers (St. Louis, Missouri): “On a rolling twelve month calendar sales have retailers continue to take business Armen Darakjian, continued to outpace previous years, and we’ve from the brick and mortar retailers. Darakjian Jewelers (Detroit, Michigan): definitely been able to feel more confident in We offer something they can’t and “Business overall is good in a general sense. the amount of store traffic and sales we’ve been There are definitely more high-end transac- able to forecast and attain. There’s a growing some of that is customer assurance.” tions than in the mid-range. The wealthy clients sense of stability that we’ve really not seen since Scott Bolosky, Clarkson Jewelers out there still have the disposable income to about midway through 2008. treat themselves. But the way they are treating Consumer confidence continues to grow, at least This is nothing new, but internet sales and sales/ themselves and the items they are pursuing in the St. Louis market. While consumers are, service from non-authorized retailers continue are different than years ago. There is a focus and always will be price conscious, when their to take business from the brick and mortar on classics and timeless, real statement pieces. perceived buying power begins to increase then retailers. Fortunately, our fix to this is simple - Watches in rose gold for men are on the shop- we see that more consumers are willing to pay we’re not the destination for the internet shop- ping lists more than in the past. a premium for expertise and service. Value isn’t per. Our clientele isn’t always looking for the For us, this year is hugely different. Darakjian directly related to price alone, so our “value” best price alone. We offer something they can’t Jewelers moved to Birmingham Michigan, proposition of selection and expertise resonates and some of that is customer assurance. They Michigan’s only “city” with all the financial in- better when consumers don’t feel like they just stitutions and high-rise high-end condos, and need to get the best price alone. a selection of boutique restaurants. This year While we’ve seen ups and downs for sure, we it seems that social media is playing a larger were able to rein ourselves in and weather the role in getting the word out, for promotion storm. While we continue to grow I have to be- and endorsement. lieve that the worst is behind us, and we’re optimistic for a record twelve months coming up. …Continued online I am excited about our growth. We’re a small, Leading watch retailers discuss how their privately owned business. That said, our focus is business is progressing and how and what always on growth, but not at the expense of the they are doing to ensure a sustainable growth service and expertise we provide. My thought is in this highly competitive market. this, if you can grow a business continually and Read how they see the future of retailing at: profitably while constantly creating consumer

www.watch-aficionado.com 8 | watch aficionado SPOTLIGHT

The world’s first hybrid time-keeping system by Casio

The new G-SHOCK GPW-1000 by Casio not only receives Global Positioning System (GPS), but also radio wave time-calibration signals for accurate time keeping everywhere in the globe.

In 1983, an engineer’s passion to create an ‘unbreakable watch’ brought about I the launch of the first G-SHOCK. Since then, this ever-evolving timepiece, using ‘toughness’ as its platform, has incorporated advanced technology and developed an amaz- ing series of features.

In its continued quest for the ultimate in toughness, the Triple G Resist construction of the G-SHOCK GPW-1000 features a reinforced structure to resist shocks, centrifugal force, and vibrations. A high strength and durability carbon fibre insert band, and a bezel with scratch-resistant DLC coating, ensure a level of toughness to withstand the harshest of environments.

Additionally, using CASIO’s latest technology, this timepiece has increased its time-keeping accuracy by creating a unique hybrid system that captures GPS signals and radio wave time-calibration signals transmitted from six stations throughout the world. Whether the watch is in a dense forest or amongst desert dunes, marine environments or surrounded by buildings, the GPW-1000 keeps accurate time.

As flagship of G-SHOCKs Gravitymaster series the watch uses ultra-small motors for the hand drive mechanism to secure the space to mount the hybrid timekeeping system. To compen- sate for increased power consumption, the Casio G-SHOCK GPW-1000 features a new low-power consumption, high- performance GPS LSI, as well as a new shape of solar cell with high-efficiency output. Other features include a ceramic GPS antenna and fine resin case for high signal sensitivity and shock resistance. Main Features of the GPW-1000 T Fine Resin Frame Absolute in accurate time keeping, all the time

• Receives GPS signals for accurate time radio wave time-calibration signals. Receiving time and automatic daylight savings adjustment. information is prioritized by radio wave signals in Obtains location and time information using GPS radio wave coverage areas and GPS signals in non- signals: the watch references internal global map data coverage areas. in 500-metre resolution grids, to automatically adjust • Easy- to-use hybrid system to the local time zone based on location information, Keeps time automatically using GPS signals and radio and correct for daylight savings. wave time-calibration signals. GPS signals are received • Receives radio wave time-calibration signals when relocating to a place with GPS signal coverage, in both interior and exterior locations. while radio wave time-calibration signals are received Receives radio wave time-calibration signals transmit- at night. When travelling to a different time zone, ted from six stations worldwide (two in Japan and one pressing a button quickly obtains the current location. each in North America, UK, Germany, and China) and It takes just seven seconds to a minute for the watch to in coverage areas, displays accurate time, even when get accurate time from GPS signal time information. indoors or surrounded by buildings. • Dual time display for travelling abroad • Hybrid system displays accurate Dual time simultaneously displays the time in two time anywhere in the world. separate cities - the current local time and a second Casio developed an algorithm that uses and analyses time zone at a glance using the minute/hour hands and the location information based on GPS signals and inset dial.

500m units GPS Algorithm world wide U

500m Absolute toughness in Technologies for toughness the harshest of environments and hybrid time keeping

• Advanced Triple G Resist construction • GPS signal sensitivity and toughness The new G-SHOCK GPW-1000 employs Triple G Resist The watch features a ceramic circular polarized antenna to construction to withstand shocks, centrifugal force and vi- receive GPS signals together with an enlarged dial, making brations, delivering the toughness expected of a G-SHOCK it sensitive enough to be able to receive time information. watch with accurate time anywhere in the world. The case frame is reinforced with strengthened fine resin • Durable carbon fibre insert band so that the enlarged dial can be housed without increasing The carbon fibre insert band features resin reinforced by the case size. These refinements achieve the toughness a carbon fibre insert to ensure strength and durability. that is expected in a G-SHOCK watch of a modest size. • Scratch-resistant DLC coating • Module with built-in GPS antenna The metal bezel features a hard diamond-like carbon The watch employs an ultra-small motor for the movement (DLC) coating that is both scratch-resistant and sophisti- that drives the hands to create the necessary space for cated in appearance. the GPS antenna and LSI. The GPS antenna, GPS LSI, and ultra-small movement are contained in a single module to achieve tough Triple G Resist construction. • Low power consumption The G-SHOCK GPW-1000 features shadow-dispersing solar cells that resourcefully receive light and a low- power GPS LSI for an efficient supply of power.S olar drive enables the watch to receive GPS signals thus avoiding battery drain and the low power consumption design makes it possible to employ high-luminosity LEDs, making the watch more practical and user-friendly.

DLC coating Bezel / Sapphire Crystal THE G-SHOCK GPW-1000 HIGHLIGHTS

Carbon fiber insert band • The G-Shock GPW-1000 is the world’s first wristwatch to use a hybrid system capable of receiving GPS signals and radio wave signals. • By combining the reception of these radio signals and the GPS satellite signals, the watch can display the exact time – regardless of changes between summer and winter time – anywhere on the planet. • Using Multi-Band 6 technology to receive the radio waves in the areas covered by this system (which is in turn controlled by atomic clocks and relayed by powerful antennas), it automatically switches to GPS reception where the signal is no longer available. • The G-SHOCK’s Multi-Mission Drive enables each watch hand to perform multiple functions. • The watch is fitted with a very low-energy GPS LSI chip that has been specifically deve- Super LED Light loped together with Sony for use in a wristwatch. It is also equipped with a new shape of solar cell and motors that are 26 per cent smaller than before. • These combined advancements have allowed Casio to create a high-performance device in the form of a classic analogue watch that is user-friendly whilst maintaining outstanding readability. • The G-Shock GPW-1000 features: 40 time zones; stopwatch functions; countdown timer; alarm; calendar, power reserve indicator; solar-charging function; shock and vibration resistant and resistance to centrifugal gravitational force; water-resistant to 200 metres. • A professional pilots watch with advanced hybrid GPS technology for absolute precision. Presenting the G-Shock Gravitymaster GPW-1000. Made to resist the world’s most chal- lenging environments.

For more detail information, please visit world.g-shock.com/hybrid Entry-Level Mechanicals Entrée into the Horological Lifestyle

For centuries, the mechanical watch was the only way to tell time. From when it F was introduced in pocket watches until the 1950s and ‘60s, there was really no other choice (other than a water clock, an hour glass or a sundial). Then came the electric watch (remember the Hamilton Ventura?) and then quartz, which almost succeeded in killing the mechanical watch industry completely.

Luckily, some mechanical watch companies persevered, continuing to manufacture automatic and hand-wound movement watches in the face of the popularity of the quartz watch. Then, in the ‘90s, the pendulum swung around and mechanical watches became extremely popular Definition of a company strives to keep its prices affordable once again. Certainly, quartz watches exceed Mechanical Watch on the mechanical side. mechanical watches in terms of volume, but when First off, let’s define mechanical watch: some “Baume and Mercier prides itself on offering a it comes to value and price point, mechanical customers think a mechanical watch is a hand- wide assortment of men’s and ladies’ mechani- watches are very much in the lead. wound watch, but in truth, a mechanical watch cal timepieces that are luxury within reach,” says is any watch, hand-wound or automatic, that Rudy Chavez, president, Baume & Mercier North Though it doesn’t get as much press as more expen- keeps time mechanically (not electronically, America. “This has always been our mission for we sive or complicated watches, one very important like a quartz watch). know that many of our watches are either given segment of the watch industry is the opening-price or received as gifts to commemorate personal mi- point, or entry-level, mechanical watch. This a First Mechanical Watches lestones, so the timepiece must be of the highest very broad segment, because for some companies, Most customers start their watch life with a quality and yet accessible in terms of price point. like Fossil or Swatch, their opening price point quartz watch, then graduate to a mechanical Many customers learn to appreciate the finer for a mechanical watch might be just over $100, watch. Some companies target this customer points of mechanical timepieces at an early age while for other companies, like Jaeger-LeCoultre exclusively, while others have entry-level offe- and often build a watch wardrobe over time that or Patek Philippe, the opening price point is in the rings then hope that their customers climb the can include special one-of-a-kind and more com- thousands or tens of thousands of dollars. ladder of their collection. plicated timepieces. But all must start somewhere For this report, we are going to focus on watches A company like Tudor has affordable high-qua- so offering this segment presents the consumer an that are often customers’ first foray into mechani- lity Swiss-made mechanical watches as its core opportunity to own a piece of history and technical watches. business - 100% of Tudor’s offering is mecha- cal know-how for a few thousand dollars.” nical. On the other hand, Baume & Mercier has Hamilton, thanks to the power of the mighty a mixture of mechanical and quartz, and the Swatch Group, is a leader in mechanical watches

12 | watch aficionado T BIG CROWN PRO PILOT by Oris

“To us the entry-level is important because we address a lot of first time buyers for traditional Swiss watches. Working on economies of scale and innovation are the key to maintaining prices at an affordable level for us at Hamilton.” Sylvain Dolla, president, Hamilton Worldwide

priced 500 – 2,000 Swiss francs. “To us the entry-level is important because we address a lot of first time buyers for traditional Swiss watches,” says Sylvain Dolla, president, Hamilton Worldwide. “Working on economies of scale and innovation are the key to maintaining prices at an affordable level for us at Hamilton.” Certina, also in the Swatch Group, focuses on the entry-level as well. “In order to use and to assure the capacity of the important industrial base of Why the Industry and 100 per cent of its collection is mechani- our group, it’s important to have brands which Needs Entry-Level cal. “Everyone has to start somewhere…not O Heritage Ranger are in a volume price segment,” says Adrian Mechanical Watches everyone is going to buy a $10,000 watch ri- by Tudor Bosshard, president, Certina. “Additionally, it’s Not everyone is going to jump right in, buying a ght off the bat,” says V.J. Geronimo, CEO North a fact that especially in China and other Asian Cartier or Vacheron Constantin timepiece. Very America, Oris Watches. “There are people who T Promesse by Baume & Mercier markets automatic watches are the main seg- rarely is a high-end watch going to be a first can afford nice things but also appreciate and ment in the Swiss watch industry. Additionally watch purchase, so the industry has to provide good value. We are many times the ‘starter DS Podium we feel that in Europe as well, the automatic affordable entries into the mechanical world. watch’ for the collector or for that person who Chronograph by Certina watch culture is growing more and more.” Oris is a brand that has a reputation for value, wants their first really nice watch.” Entry-level products are often the stepping stone to more expensive timepieces. “The entry- level segment represents a great opportunity for the entire watch industry,” says Sascha Moeri, DEO, Carl F. Bucherer.

…Continued online Entry-level mechanical watches frequently give the first taste of how a watch maintains time with moving parts, a mechanism with a heart. However, pricing is critical and many consumers need educating about the bene- fits of a mechanical movement. These points and a dozen major brands are discussed at:

www.watch-aficionado.com

watch aficionado | 13

MOVEMENTS

who will succeed ETA? Are In-House Movements Important?

Lately, in-house movements are all the rage. Since the Swatch Group/ETA started talking about limiting supply, many watch companies have developed their own movements, making them in-house. Due to the high investment needed for movement development and the relatively small Perhaps the two manufacturers had other volume, in-house movements necessitate a pre- From 2020, Swatch Group will things on their mind. There is little doubt that mium in price. So, given the increase in price, be allowed to stop supplying their eyes are firmly fixed on a certain date: are in-house movements important? Well, it third party clients with ETA 2020. They have been under a great deal depends on who you ask... movements. For Sellita and of pressure in recent years. After numerous Soprod, the two biggest alterna- steps forward, reversals and re-evaluations, Frédéric Wenger, CEO of Arnold & Son tive manufacturers of entry-level last October the Competition Commission “In-house movements certainly matter, especially in high- and mid-range Swiss made cali- (Comco) and Swatch Group finally reached end watches. The reason is the exclusivity but also the fact bres, the stakes are high. Probing an agreement which in effect affects the that in-house movements can be an integral part of the the heart of Swiss watches. entire watchmaking industry. According to the watch’s design and characteristics. In such a case, the exact terms of the deal, “the obligation to sup- movement is designed from scratch to perfectly fit a de- ply mechanical movements will remain in ef- sign of the watch that was defined before creating the A number of movement specialists fect up to 31 December 2019.” In 2014/2015 movement. This is how Arnold & Son works and what sets attended the most recent EPHJ ETA is to deliver 75% of the average number it apart from most watch brands. A trade fair, which took place in of units sold between 2009-2011; this drops “At the end of the day, a good watch is not only defined Geneva in June, including Technotime, Vaucher to 65% in 2016/2017 and 55% in 2018/2019. by knowing if every single component was made in-house, Manufacture and Dubois Dépraz. However, The company is also obliged to treat each of its but much more by its overall aesthetics and functionality two were notable by their absence: Sellita and clients “in an equal fashion”. as well as through its quality. Therefore, the whole discus- Soprod, the biggest producers, in terms of sion about in-house vs. supplier movement is often a little volume, of Swiss made alternatives to ETA’s …Continued online artificial and misses the point. workhorses. Historically, according to various An in-depth look at what Swiss movement “We should never forget that at the end of the 1970s, when estimates, the Swatch Group subsidiary ac- manufacturers Sellita, Soprod, Technotime, many brands went bankrupt, many of those brands had their counts for almost three-quarters of the stan- Vaucher, Concepto, Horlogerie Schild, Leschot, own manufacture movements and too high costs. History mi- dard mechanical movements produced in La Joux-Perret, Dubois Dépraz, Chronode and ght be in the process of repeating itself for some brands (…)” Switzerland (i.e. 5 to 6 million units). Very few Eterna are doing to ensure alternative sour- alternatives exist for entry-level and mid-range ces for movements now that the Competition …Continued online watches, particularly at less than 200 francs Commission and the Swatch Group have Frédéric Wenger, Guillaume Tetu, Sylvain Dolla, Eric Loth, per unit. André Colard, co-founder of the Swiss agreed to a 2020 cut-off date for supplies. Serge Michel, Manuel Emch, Larry Boland, Christophe microtechnology fair, which this year brought For a comprehensive and pertinent look at Claret and Jérôme de Witt discuss the pros and cons of together around 825 exhibitors from the wat- who the watch brands can turn to for their creating movements rather than purchasing them from chmaking, micromechanics and medical tech- movements in the future, go to: a supplier at: www.watch-aficionado.com nology sectors, explained: “Soprod was there last year. As for Sellita, at the moment they have no particular need to advertise.” www.watch-aficionado.com

14 | watch aficionado

Service experiences where the rubber meets the road at the retail level – part 2

We continue our survey of the best and worst of customer services as experienced by the customer-facing retailers with the second part of the article that started in Europa Star April/May issue.

Read the full report on www.watch-aficionado.com

TOURNEAU Ira Melnitsky

Tourneau is one of the world’s biggest retailers, with 33 stores scattered throughout the US. During BaselWorld, we had the opportunity to sit down with this famous retailer’s chief executive officer, Ira Melnitsky, to talk watches, retail and the watch industry in general.

Europa Star: How was BaselWorld? What is Driving Online Interest Ira Melnitsky: We saw a lot of grey dials, and we saw a lot of for the Luxury Watch traditional pieces. We saw pieces from brands reinforcing their Industry’s “High Range” Brands? identity, which is really good for us. I think the introductions on the whole were very exciting for our business. Our largest brand The WorldWatchReport™, the leading market research in the luxury partners, like Rolex and Patek Philippe, had really great introduc- watch industry, evaluates 62 brands at all levels of the luxury spectrum tions, the type of product that our team gets enthusiastic about. from haute horlogerie to entry-level. As the media often tends to focus on We are fueled by the excitement from the teams in Basel and by the top end of luxury brands, this article takes an approach focused on the the time we return to New York we are already receiving emails more accessible brands, and in doing so have uncovers insights related to from our clients in the US, asking about the new product. what’s driving the market.

How is business? In the report, brands are categorized into five categories.T hese are: Haute IM: Business is healthy. We had a very strong March, and it was Horlogerie, Watch and Jewelry, Couture, Prestige, and High Range. Thanks a good 2013 for us. We are optimistic. The timepiece business is I to the contribution from several watchmaking industry specialists (media, good for us. We gained market share within the United States brands, retailers), the following criteria have been taken into consideration to define and the start to 2014 has been stronger than last year. these categories: brand positioning, core price range, and the competitive environment. At Tourneau, the presentation and importance of the larger brands A zoom in on the High Range category, which features brands such as Baume & Mercier, is more important than ever. Bremont, and Ebel, allows us a deeper glimpse at brands that are capturing the public’s attention, and a share of their wallet. (…) Read on www.watch-aficionado.com …Continued online An interview with Tourneau’s CEO in which he discusses their success, the value of in-house training for the sales people, management style, choice of brands and the importance of af- www.watch-aficionado.com is brought to you by Europa Star HBM SA, ter-sales service. To read the complete article go to: 25 route des Acacias, 1227 Carouge, Geneva Switzerland, contact@ europastar.com For full information on Europa Star click on www.europastar.com ABOUT US and CONTACT US www.watch- aficionado.com ModeModernr ntimes times, ,ete eternalrnal eleganc elegancee..

Ernest Borel S.A. +41 32 926Er 17nest 26 Bo / inrelfo@e S.A.rnestborel.ch +41 32 926 ww17 26w.e /r [email protected] www.ernestborel.ch