DOCSLIB.ORG

Annual Report / 2017 1 Contents

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report / 2017 1 Contents ANNUAL 2017 REPORT THE EARTH, THE SUN, A YEAR The Earth needs about 365.25 days to complete its gravity-assisted elliptical orbit of the sun. Of course, we generally round this number down and take care of that extra quarter day every four years. Typically, a day consists of 24 hours but we often record its two 12-hour halves. The 8760 hours in Swatch Group’s 2017 were significant. This is their story. SWATCH GROUP / ANNUAL REPORT / 2017 1 CONTENTS MESSAGE FROM THE CHAIR 2 OPERATIONAL ORGANIZATION 4 ORGANIZATION AND DISTRIBUTION IN THE WORLD 5 ORGANS OF SWATCH GROUP 6 BOARD OF DIRECTORS 6 EXECUTIVE GROUP MANAGEMENT BOARD 8 EXTENDED GROUP MANAGEMENT BOARD 9 DEVELOPMENT OF SWATCH GROUP 10 ART & PHILANTHROPY 11 BIG BRANDS 19 WATCHES AND JEWELRY 20 – 84 RETAILING AND PRESENCE 85 – 90 PRODUCTION 91 ELECTRONIC SYSTEMS 101 CORPORATE, BELENOS 107 SWATCH GROUP IN THE WORLD 115 GOVERNANCE 141 ENVIRONMENTAL POLICY 142 SOCIAL POLICY 149 CORPORATE GOVERNANCE 152 FINANCIAL STATEMENTS 2017 165 CONSOLIDATED FINANCIAL STATEMENTS 166 FINANCIAL STATEMENTS OF THE SWATCH GROUP LTD 216 COMPENSATION REPORT 2017 231 PLEIADES Swatch Group’s Annual Report and The Pleiades are an open star cluster in the Compensation Report are published in constellation Taurus. They are part of the French, German and English. Milky Way and can be seen from Earth with Pages 1 to 151 are originally published in the naked eye. Its name connects it not only French and pages 152 to 230, as well as the to the nymphs in Greek mythology, but also Compensation Report, in German. to a group of sixteenth-century French poets. These original versions are binding. Whether in the sky or in a book: the Pleaides have real radiance. © The Swatch Group Ltd, 2018 SWATCH GROUP / ANNUAL REPORT / 2017 CONTENTS 2 MESSAGE FROM THE CHAIR Dear Madam, Dear Sir, Work is what all those involved in our Group do on a daily basis, Dear Fellow Shareholders, from the members of the Board of Directors to the senior management to the engineers, the sales force, the IT specialists, the marketing and The black hole – the beginning or the PR teams, the financial and controlling professionals, all the way to the end!! employees working in production at the various companies, and many Stars, galaxies, universes. Astronomy, the more. I could go on but it would be impossible to list them all. A total of world’s first time measurement system and 35 400 people give their all every day to keep Swatch Group on the road connected with so many other sciences. to success. Who has never stared up at the starry sky Joy is what our teams experience when, for example, they create a on a clear summer’s night and let their dreams new product. Consider the beauty of Harry Winston jewelry creations run wild? Who has never made a wish upon a and the satisfaction of those who conceive, design and craft them. shooting star? Let’s be honest: now and then, Think of the Breguet watchmakers who develop a masterpiece like the a little irrationality doesn’t hurt. But only if Marine Equation Marchante 5887; the creative talents at Swatch we keep in mind that we forge our own desti- launching a new SKIN model; the employees at Omega who celebrated nies and remember that happiness does not the 60th anniversary of the Speedmaster; or Blancpain’s commitment fall from the sky. A small glimpse of this uni- to protecting millions of square meters of ocean and underwater life; verse can be found in our Annual Report 2017! the teams that give everything for our brands in different regions Along with a special Swatch, which again was around the world. That is what work and joy is all about! made just for you, this time with the unique Nevertheless, we should not forget our motto: to embrace and pre- Swiss cow constellation in the Milky Way. serve the fantasy that we had as six year olds, even though work and On a more serious note, Western philoso- joy are the essential factors for our success. phy has always revolved around this issue of What determines the time we measure using our products, if not destiny. Is the future determined in advance our planet’s movement around the sun, our nearest star? Products are or not? Are human beings free or are they sometimes acquired for their beauty, sometimes for their precision, not? Philosophers have filled huge and chal- and not unusually for the obsession to “correctly” measure the time the lenging books on this topic, some of which tell earth takes to complete a full revolution on its axis as well as to turn us that we are free and that our fate is in our around the sun. Perpetual calendars, equation of time measurements, own hands, while others take the opposite tourbillons, Co-Axial escapements: all are attempts to house within a view, proclaiming that we are not at all free tiny yet reliable mechanical movement something that faithfully and that everything is preordained. Some matches the movements of the Earth. Several of our brands have a spe- even combine the two approaches. cial affection for moon phase complications, but Blancpain is the un- But now to the fate of Swatch Group in surpassed master. Is the moon phase not a poetic means of carrying 2017. There were various elements that con- with us the romantic face of our somewhat mysterious natural satel- tributed to the success such as, of course, the lite, which is believed to play a considerable yet largely unknown role work we do and the joy that it brings. in our lives? This Moon radiates a very special glow at Omega, whose watches were worn by the only 12 human beings who had the privilege of setting foot on its surface. It is also Omega that has paid tribute, through one of its most prestigious collections, to the constellations that are believed to influence our future from the time of our birth. For me, there is not only the work, the joy, the success, and the fig- ures, but also the pride I feel, as Chair of the Board of Directors of Swatch Group, to be able to report on a successful year in 2017 and to look forward to 2018. You see, I still have much of the fantasy of a six year old and am still looking to the sky for shooting stars upon which I can make my wishes! Head in the clouds, definitely… but feet firmly on the ground! SWATCH GROUP / ANNUAL REPORT / 2017 MESSAGE FROM THE CHAIR 3 Allow me to run through the 2017 results for a moment. In the breakdown of the year, I would like to highlight certain elements: – Not only did the Watch & Jewelry segment (excluding Production) post 6.9% annual sales growth at the current exchange rates, the oper- ating margin of this same segment grew by 27.4%. – What is even more interesting in my opinion is the fact that growth reached 12.2% in the second half of the year and even 14.9% in the fourth quarter – an acceleration fully confirmed in December with the second-best monthly sales in the history of Swatch Group! This gratifying news has likely long been written in the stars… In 2017, our group achieved net sales of 7960 million Swiss francs, up 5.4% compared with the previous year and despite the negative effects of current exchange rates. The overall operating result improved by 24.5% to 1002 million Swiss francs, while the operating margin grew from 10.7% in the previous year to 12.6%. Consolidated net profit increased by 27.3% to 755 million Swiss francs, with a net margin of 9.5%, a significant improvement over the previous year (7.9%). Given these encouraging re- sults, the Swatch Group Board of Directors’ dividend proposal is CHF 7.50 per bearer share and CHF 1.50 per registered share, which marks a re- turn to the level achieved in 2015, which was a highly successful year. Dear Madam, Dear Sir, Dear Fellow Shareholders, for helping shape the destiny of our company and thus avoiding leaving it to the stars alone; for accepting the eclipses that make everything seem threaten- ingly dark; and for remaining optimistic with regard to the famous black holes that could swallow up everything but are fortunately a long, long way off, you remain the living soul of our company. I wish to thank each and every one of you from the bottom of my heart. My sin- cere gratitude also goes to the Board of Directors, to the Executive Group Management Board and to the Extended Group Management Board, as well as to the 35 400 colleagues for their unfailing commit- TIME AND SPACE ment over the past year. Sincere thanks to all of you. Time flies: in 1996, the Swiss astronaut Yours, Claude Nicollier took this watch into space – proving that there are no limits for Swatch. The same could be said for the Roman god Mercury. Not only did this “messenger of the gods” with the winged helmet bring the news, he was also the god of merchants. Nayla Hayek You might even think of him as the patron Chair of the Swatch Group Board of Directors saint of annual reports. SWATCH GROUP / ANNUAL REPORT / 2017 MESSAGE FROM THE CHAIR 4 SWATCH GROUP OPERATIONAL ORGANIZATION as at December 31, 2017 SWATCH GROUP BRANDS AND COMPANIES WATCHES RETAILING PRODUCTION ELECTRONIC CORPORATE SYSTEMS Prestige and Tourbillon Watches EM Microelectronic Swatch Group Luxury Range ETA Research and Breguet Hour Passion Meco Renata Development Harry Winston CHH Microtechnique (Asulab, Moebius, CDNP) Blancpain Nivarox-FAR Micro Crystal Glashütte Original Comadur Belenos Clean Power Jaquet Droz Rubattel et Weyermann Swiss Timing and Léon Hatot MOM Le Prélet ST Sportservice ICB Ingénieurs Omega Universo Conseils en Brevets Manufacture Ruedin High Range Lascor Swatch Group Longines Simon Et Membrez Quality Management Rado Novi Union Glashütte Swatch
Load more

Recommended publications
  • The Deloitte Swiss Watch Industry Study 2020 an Accelerated Transformation the Deloitte Swiss Watch Industry Study 2020 | an Accelerated Transformation
    The Deloitte Swiss Watch Industry Study 2020 An accelerated transformation The Deloitte Swiss Watch Industry Study 2020 | An accelerated transformation About the study This report is the seventh edition of the Deloitte study on the Swiss watch industry. It is based on an online survey and interviews conducted between mid-August and mid-September 2020 with 55 senior executives in the watch industry. The study is also based on an online survey of 5,800 consumers in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. The year 2020 marks 175 years of Deloitte making an impact that matters. Today Deloitte is a thriving global organisation, which has grown to more than 300,000 people proudly carrying forth a legacy of connection and collaboration. We’re not trusted because we’ve existed for 175 years. We’ve existed for 175 years because we’re trustworthy. That’s our legacy. That’s our future. 02 The Deloitte Swiss Watch Industry Study 2020 | An accelerated transformation Contents 1. Key findings 04 2. Industry overview 05 2.1 COVID-19: Unexpected and unprecedented 05 2.2 Quartz watches: Continuing drop in exports and sales 07 2.3 China: Key for recovery and growth 09 3. Looking ahead 11 3.1 Beyond the pandemic 11 3.2 The Far East and high-end are vital for growth 12 4. Challenges remain 13 4.1 External risks: Protests and politics 13 4.2 Smartwatches: Industry missed the boat 14 5. Business strategies 18 5.1 Digitalising for a ’consumer first’ world 18 5.2 The pre-owned market heats up 23 5.3 Sustainability: The future is green 25 6.
    [Show full text]
  • The Case of Switzerland and the World Watch Industry *
    469 Technological discontinuities and flexible production networks: The case of Switzerland and the world watch industry * Amy Glasmeier tain and augment their competitiveness in a global Unrr~rs~t~of Texas at Austin, Texas, USA economy. On the eve of the electronics revolution, the Swiss watch production system, centered in the mountainous Jura region, was flexible, cost The twentieth-century history of the Swiss watch industry effective, and extremely profitable. Both horizon- illustrates how cultures and industrial production systems ex- tally and vertically disintegrated, the Swiss system perience great difficulty adapting to external change at differ- offered enormous variety while maintaining qual- ent points in time. The current emphasis on production net- ity and timeliness of delivery. “The multiplicity of works - unique reservoirs of potential technological innovation realized through cooperation rather than competition among enterprises, and the competition and emulation firms - lacks a detailed appreciation of historic networks, and that characterized the industry, yielded a product in particular their fragile character in times of economic of superior quality known the world over for high turmoil. While networks can and do promote innovation within fashion, design, and precision” [21, p. 481. an existing technological framework, historical experience sug- Beginning in the 1970s when foreign competi- gests their fragmented, atomistic structure is subject to dis- organization and disintegration during periods of technological tion hurdled technological frontiers in watch change. An exclusive focus on “production” ignores other movements, advancing from mechanical to elec- constraints that are powerful forces governing the reaction tric, electronic, digital and finally quartz technol- abilities of regions. Previous research has largely relied on a ogy, the Jura’s undisputed dominance ended.
    [Show full text]
  • Annual Report / 2016 > 163 > Financial Statements
    SWATCH GROUP / ANNUAL REPORT / 2016 > 163 > FINANCIAL STATEMENTS NICO (9) FINANCIAL STATEMENTS 2016 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS OF THE SWATCH GROUP LTD > 164 SWATCH GROUP / ANNUAL REPORT / 2016 > FINANCIAL STATEMENTS > TABLE OF CONTENTS Consolidated financial statements 164–215 Financial review 165 Consolidated income statement 171 Consolidated balance sheet 172 Consolidated statement of cash flows 174 Consolidated statement of changes in equity 175 Notes to the consolidated financial statements 176–211 1. General information 176 2. Summary of significant accounting policies 176 3. Financial risk management 183 4. Segment information 184 5. Revenues and expenses 187 6. Income taxes 188 7. Earnings per share 190 8. Dividends paid and proposed 190 9. Cash and cash equivalents 191 10. Marketable securities and derivative financial instruments 191 11. Trade receivables 192 12. Other current assets 192 13. Inventories 193 14. Prepayments and accrued income 193 15. Property, plant and equipment 194 16. Intangible assets 195 17. Investments in associates and joint ventures 196 18. Business combinations 196 19. Other non-current assets 198 20. Financial debts and derivative financial instruments 199 21. Other liabilities 199 22. Accrued expenses 200 23. Provisions 200 24. Retirement benefit obligations 201 25. Commitments and contingencies 202 26. Share capital and reserves 203 27. Acquired goodwill 204 28. Details to the consolidated statement of cash flows 205 29. Employee stock option plan 205 30. Related party transactions
    [Show full text]
  • Annual Report 2014 2014 Annual Report Annual
    www.fhs.ch Annual Report 2014 2014 Annual Report 1 FH Annual Report 2014 2 ISSN 1421-7384 The annual report is also available in French and German in paper or electronic format, upon request. © Fédération de l’industrie horlogère suisse FH, 2015 3 Table of contents The word of the President 4 Highlights of 2014 6 Swiss made - Swissness – Enforcement ordinances take centre stage 8 Revision of the law on cartels – Back to square one! 10 150 years of friendship – Think Time in Tokyo 11 Panorama of the 2014 activities 14 Improvement of framework conditions 16 Information and public relations 19 The fight against counterfeiting 22 Standardisation 28 Legal, economic and commercial services 29 Relations with the authorities and economic circles 30 FH centres abroad 31 The Swiss watch industry in 2014 32 Watch industry statistics 34 Structure of the FH in 2014 38 The FH in 2014 40 The General Meeting 41 The Board 42 The Bureau and Commissions 43 The Departments and the Services 44 The network of partners 45 The word of 5 the President The year 2014 was pos- From a Swiss perspective, the past year was marked by the itive overall for the Swiss refusal of Parliament to revise the law on cartels. The FH lob- watch industry. Exports bied actively on this issue to preserve distribution agreements. totalled 22.2 billion francs, Whereas the project planned initially to show greater regard for an increase of 1.9% com- the economic benefit of vertical agreements, which in particu- pared to 2013. It is pleasing lar help to optimise the distribution chain, the Federal Council to note that volumes, too, suddenly did a U-turn.
    [Show full text]
  • Jerry Says “Eureka!”
    APRIL 2016 VOL. 35, NO. 9 Meeting Minutes, March 4, 2016 “Short Model” needs an open face to see This Month JERRY SAYS, the balance inside. GETTING Also there is a German “Long Move- SHELLAC’D AND “EUREKA!” ment”, the Cromwellian, and it was the most expensive case. A good selling SWINGING Our mart started at 7:00 p.m. and our point was it runs for 3 years on 1-1/2 ANSONIA! meeting was called to order by Secre- volts, such as one ‘D’ cell battery, but the Ok... We are not breaking out the booze tary Phyllis Adams. There was a cor- clocks did not keep good time. Some and getting shellacked, but this month, we rection to last month’s minutes: Cora have ball bearings that can be seen do have a real treat. Our “Beginner’s Cor- Lee Linkenhoker brought the refresh- through a glass disk. ments. Health & Welfare: It was re- ner” will be much more than just a Jerry’s third clock was a 1950 “Beginner’s Corner!” Larry Squires will ported that our former member, Leon “Forestville” 110 volt – called a Coufel, is working on clocks in Bishop be giving a short and very informative “tableburner” because of overheating. A presentation on the restoration of an An- and is doing very well there. We wish battery version was created later. At Del him all the best. sonia swinger. In this case, the metal can Mar, he bought a clock in a similar style holding the movement was reproduced Old Business: We have not scheduled to a 400 day.
    [Show full text]
  • Annual Report 2015 2015 Annual Report Annual
    www.fhs.ch Annual Report 2015 2015 Annual Report 1 FH Annual Report 2015 2 ISSN 1421-7384 The annual report is also available in French and German in paper or electronic format, upon request. © Fédération de l’industrie horlogère suisse FH, 2016 3 Table of contents The word of the President 4 Highlights of 2015 6 Swissness - Swiss made – Final step before entry into force 8 Hong Kong Watch & Clock Fair – Intensive surveillance 10 Counterfeiting on the Internet – Social networks in force 11 ISO/TC 114 - Watchmaking Conference – In Lucerne in May 12 Panorama of the 2015 activities 14 Improvement of framework conditions 16 Information and public relations 22 The fight against counterfeiting 26 Standardisation 33 Legal, economic and commercial services 34 Relations with the authorities and economic circles 35 FH centres abroad 37 The Swiss watch industry in 2015 38 Watch industry statistics 40 Structure of the FH in 2015 44 The FH in 2015 46 The General Meeting 47 The Board 48 The Bureau and Commissions 49 The Departments and the Services 50 The network of partners 51 The word of 5 the President In 2015 the watch industry Council will take its decision in 2016 according to the results experienced its first nega- of the consultation, the revised OSM is also expected to enter tive year since 2009, with into force in 2017. a fall in exports of 3.3%. This is due to the down- Defending the Swiss made label abroad, the FH took action turn in trade in Hong Kong, against a Chinese participant at the Hong Kong Watch and China and Russia.
    [Show full text]
  • Swiss Watch Industry Study 2020 | an Accelerated Transformation
    The Deloitte Swiss Watch Industry Study 2020 | An accelerated transformation About the study This report is the seventh edition of the Deloitte study on the Swiss watch industry. It is based on an online survey and interviews conducted between mid-August and mid-September 2020 with 55 senior executives in the watch industry. The study is also based on an online survey of 5,800 consumers in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States. The year 2020 marks 175 years of Deloitte making an impact that matters. Today Deloitte is a thriving global organisation, which has grown to more than 300,000 people proudly carrying forth a legacy of connection and collaboration. We’re not trusted because we’ve existed for 175 years. We’ve existed for 175 years because we’re trustworthy. That’s our legacy. That’s our future. 02 The Deloitte Swiss Watch Industry Study 2020 | An accelerated transformation Contents .+ BUi p^TY^Wc -1 2. Industry overview 05 2.1 COVID-19: Unexpected and unprecedented 05 2.2 Quartz watches: Continuing drop in exports and sales 07 2.3 China: Key for recovery and growth 09 3. Looking ahead 11 3.1 Beyond the pandemic 11 3.2 The Far East and high-end are vital for growth 12 1+ ;XQ\\U^WUc bU]QY^ .0 1+. =hdUb^Q\ bYc[c7 Gb_dUcdc Q^T `_\YdYSc .0 1+/ J]QbdgQdSXUc7 u^Tecdbi ]YccUT dXU R_Qd .1 5. Business strategies 18 2+. <YWYdQ\YcY^W V_b Q mS_^ce]Ub pbcdm g_b\T .5 5.2 The pre-owned market heats up 23 5.3 Sustainability: The future is green 25 6.
    [Show full text]
  • Contents Contents 2 4 5 6 Message from Operational Organization Organization & Distribution Organs of the Group the Chairman
    contents contents 2 4 5 6 message from operational organization organization & distribution organs of the group the chairman 10 11 47 48 50 development of know-how retailing jewelry production production of watch, the swatch group movements and components 57 63 69 93 94 electronic systems general services swatch group social policy safety and environment international 96 107 108 148 corporate governance financial statements consolidated financial financial statements poster – world leader statements of the holding in watchmaking swatch group annual report 2004 1 message from the chairman message from the chairman Ladies and Gentlemen, Shareholders, Another year has come to an end. 2004 was in fact a very good year for the Swatch Group despite some major obstacles, the first of which was – and I’m sorry to have to mention it yet again – the problem of the Swiss franc, which con- tinues to rise at a staggering rate compared with all other currencies except the euro and the pound sterling. This is causing serious problems for all of Switzer- land apart from some sections of the financial community. Some of the air of stagnation and resignation, which we see in many of our political leaders, is beginning to spread right across the country. The collapse of Swissair-Swiss then Swiss-Lufthansa is one upsetting and depressing example of this. In fact, I am outraged that in Switzerland, the land of some great business founders of the past, we are no longer able to find enough entrepreneurs capable of preserving and developing the heritage that has been handed down to us, and of which we are the guardians.
    [Show full text]
  • Membres Collectifs 2021
    L’association des professionnels du monde horloger MEMBRES COLLECTIFS 2021 AdTime SA Bugnion SA AKAtech SA Bulgari Horlogerie SA American Watchmakers Institute Cadfem AG ASRH Carl F. Bucherer Ass. patronale de l’horlogerie et de la microtechnique Carl F. Bucherer Movements Ass. patronale des industries de l’arc-horloger Cendres et Métaux SA Asulab Division Centredoc Atokalpa CFP Biel-Bienne, Lycée Technique Azurea Technologies SA CFPT Centre de Formation Cedoc Ball Watch Company SA Charles-Louis Rochat SA BBZ Ecole d’horlogerie Zeit Zentrum Chaumet Horlogerie SA Bergeon SA Chevillat SA Beyer Chronometrie AG CHH - Microtechnique SA Bibl. Pub. et Universitaire - Neuchâtel Chopard et Cie SA Bibl. d’Art et d’Archéologie - Genève Chronode SA Bijoutil AG Cifom Ecole Technique Blancpain SA Citizen Watch Company Ltd Blösch SA CLA Clinical Labo. Automation SA Boninchi SA Cmt Rickenbach SA Breitling Chronométrie SA Comité Francéclat Breitling SA Complitime SA SSC Jaquet-Droz 1 – CH-2002 Neuchâtel T : 032 720 50 79 – F : 032 720 57 51 E : [email protected] – www.ssc.ch MEMBRES COLLECTIFS Concepto Watch Factory SA EPFL - TTO Convention Patronale de l’Ind. Horl. Suisse ETA SA COSC Eterna Movement SA COSC - Bureau de Bienne Eterna SA CP Automation Exsal SA Crescentia SA Fédération de l’Industrie Horlogère Suisse, FH CristalTech Sàrl Fehr Cie SA CSEM SA Feller Pivotages AG De Bethune SA Fiduciaire Horlogère Suisse SA Del West Europe SA Fondation Qualité Fleurier Deutsche Gesel. für Chronom. Fondation Wostep Dimier Man. de Haute Horlogerie Artisanale Franck
    [Show full text]
  • REPLICA OMEGA SA Development and Evolution
    REPLICA OMEGA SA development and evolution Replica Omega SA- Swiss luxury watch manufacturer, headquartered in Biel / Bienna, Switzerland. LeBrant (LeBrant) was founded in La Chaux-de-Fonds in 1847, and was formally established as La General Watch (La General Watch), until 1902 merged with Replica Omega (Omega), and in In 1981 it was renamed the Louis Bronte and Fremiega Society. The company has officially changed its name to Replica Omega SA, a subsidiary of the Swiss Swatch Group. Replica Omega was published in Bir / Bien in January 1983. The Royal Squadron selected the Replica Omega watches as the official timer in 1916, and the US military chose the Replica Omega watches in 1917. James Bond has been in the film since 1994. Buzz Aldrin, George Clooney and John F. Kennedy are one of Replica Omega's other famous costumes in the past and present. These people include Kennedy, Mao Zedong, Elvis and Prince William. 1. Historical evolution Early history Replica Omega pioneers La Generale Watch Co. Founded in 1847 in La C -te-de-Funde, Switzerland by Louis Brandt, it is a collection of tactical pocket clocks that have been opened by a division of local craftsmen. He sold replica watches from Italy to Scandinavia through Great Britain. In 1893, two sons, Louis-Paul and Caesar, developed a revolutionary drink that allowed the replacement of the divider, and the general capacity of the production management. The replica watches, developed with the help of these technologies, are sold under the brand Omega of La Generale Watch Co. In 1903, the success of the Replica Omega brand left La Generale Watch Co.'s Replica Omega brand and became its own company.
    [Show full text]
  • The QP Bookshelf Part 4: Single Models
    The QP Bookshelf Part 4: Single Models QP peruses the shelves for books dedicated to individual watch models Ken Kessler It may shock some of you to hear there are watch books not just about single brands – which we’ll start covering next month – but whole volumes covering single models. Some are obvious candidates, such as the books accompanying watches’ rebirths and anniversaries, or announcing major new timepieces. Others are simply the work of obsessive collectors. And while manufacturer-sanctioned titles may smack of hard-sell, even they transcend ‘catalogue-ness’ by virtue of their depth. In most cases, these stand-alone tomes are justifiable, due to truly ‘classic’ subject matter. However, more telling are the models yet to be so honoured with their own histories: the Breitling Navitimer and Patek Philippe’s Calatrava spring to mind. If this review’s inclusion of not one but two titles devoted to Omega’s Speedmaster Professional strikes you as excessive, please note that we have just learned of two books recently published in Italy, on – surprise, surprise – the Rolex Submariner. © QP Magazine 2007 60 | Literature Literature | 61 Grand Complication The Value Of Time By Manfred Fritz By Antonio Guccione Hardback, 240 pages. Price: ca.m200. Hardback, 110 pages. Published by Edition Stemmle, 1991. ISBN 3-7231-0437-1 Published by Officine Panerai, 1999. One of the first ‘modern’ single-watch histories, this physically stagger- A lesson learned: never judge a book by its cover. I thought I was ing book (it measures 27 x 32 cm and was printed on 200 gsm paper!) buying a book about Panerai.
    [Show full text]
  • Risks and Opportunities for the Swiss Watch Industry
    Copie Juré Copie Conseiller Copie Infothèque Risks and opportunities for the Swiss watch industry Travail de Bachelor réalisé en vue de l’obtention du Bachelor HES par : Alexander Kenel Conseiller au travail de Bachelor : Cyril Pasche Genève, 17.08.2018 Haute École de Gestion de Genève (HEG-GE) Filière économie d’entreprise Déclaration Ce travail de Bachelor est réalisé dans le cadre de l’examen final de la Haute école de gestion de Genève, en vue de l’obtention du titre de Bachelor of Science en économie d’entreprise < … >. L’étudiant a envoyé ce document par email à l'adresse d'analyse remise par son conseiller au travail de Bachelor pour analyse par le logiciel de détection de plagiat URKUND. http://www.urkund.com/fr/student/392-urkund-faq L’étudiant accepte, le cas échéant, la clause de confidentialité. L'utilisation des conclusions et recommandations formulées dans le travail de Bachelor, sans préjuger de leur valeur, n'engage ni la responsabilité de l'auteur, ni celle du conseiller au travail de Bachelor, du juré et de la HEG. « J’atteste avoir réalisé seul< e > le présent travail, sans avoir utilisé des sources autres que celles citées dans la bibliographie. » Fait à Genève, le 13.08.2018 Alexander Kenel Risks and opportunities for the Swiss watch industry KENEL, Alexander 1 Summary In the first part of my bachelor thesis I am presenting the watch industry in Switzerland. My goal is to impart the most essential information to convey a good overview about this highly interesting domain. I am explaining the current state of the sector, but also important historical events like the quartz crisis from the 1970ies.
    [Show full text]