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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. -
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. -
Rolex and Golf Information Sheet
ROLEX AND GOLF Perpetual Excellence For more than a century, Rolex’s quest for excellence through continuous improvement and innovation has underpinned all of the company’s activities – in its watchmaking and all its engagements. As part of Perpetual Excellence, Rolex seeks partnerships with individuals and organizations in the arts and in sport who set the highest standards of performance. Note Please note that the following is generic information in line with the “traditional” calendar. However, given the extraordinary circumstances that have impacted the world, the dates of some of these events are likely to change in 2021. ROLEX AND GOLF Rolex supports the most prestigious events, players and organizations in golf and encourages the development of the game worldwide. Its contribution to excellence in the sport is based on a rich heritage stretching back more than 50 years. Rolex champions both innovation and respect for the spirit of the ancient game. AT THE HEART OF THE GAME Rolex is a leading supporter of golf, with its universal commitment across the men’s and women’s game and from amateur through to senior ranks. The Swiss watch brand partners the principal professional tournaments and tours in golf, including four Majors in men’s golf that constitute the pinnacle of achievement for the world’s best players each year: • the Masters Tournament at Augusta National Golf Club (United States) in April; • the PGA Championship in May; • the U.S. Open in June; • The Open in the United Kingdom in July. This support extends to all five Majors in women’s golf. -
2020 Arnold Palmer Invitational Presented by Mastercard (The 22Nd 49 Events in the PGA TOUR Season)
2020 Arnold Palmer Invitational presented by Mastercard (The 22nd 49 events in the PGA TOUR Season) Orlando, Florida March 5-8, 2020 Purse: $9,300,000 ($1,674,000/winner) Bay Hill Club & Lodge Par/Yards: 36-36—72/7,454 First-Round Notes – Thursday, March 5, 2020 Weather: Partly cloudy with a high of 89. Wind SSW 10-15 mph with gusts up to 25. First-Round Leaderboard Matt Every 65 (-7) Rory McIlroy 66 (-6) Talor Gooch 67 (-5) Scottie Scheffler 67 (-5) Things to Know • Two-time Arnold Palmer Invitational winner Matt Every (2014, 2015) posts low 18-hole score in 11th start • World No. 1 Rory McIlroy one shot back as he seeks second title at Bay Hill • Two players go bogey-free in round one: Matt Every (65), Scottie Scheffler (67) • Defending champion Francesco Molinari withdrew before the first round due to a back injury • For the second time, the Arnold Palmer Invitational presented by Mastercard is part of the Open Qualifying Series (OQS), offering three spots in the 2020 Open Championship to the top players (not otherwise exempt) who finish in the top 10 and ties First-Round Lead Notes 3 First-round leaders/co-leaders at the Arnold Palmer Invitational to win since 2000 (Most recent: Jason Day/2016) 2 First-round leaders/co-leaders to win on TOUR in 2019-20: Tiger Woods/ZOZO CHAMPIONSHIP, Nick Taylor/AT&T Pebble Beach Pro-Am Leader entering the week Player Matt Every Age 36 (12/4/83) FedExCup 166 OWGR 309 Starts at Bay Hill 10 Wins at Bay Hill 2 PGA TOUR starts 238 PGA TOUR wins 2 Starts in 2019-20 11 Top-10s in 2019-20 0 Matt Every (-7/1st) -
Annual Report and Accounts 2019 T H E W a T C H E S O F S W
ANNUAL REPORT AND ACCOUNTS 2019 THE OF WATCHES SWITZERLAND GROUP ANNUAL REPORT AND ACCOUNTS 2019 THE WATCHES OF SWITZERLAND GROUP THE WATCHES OF SWITZERLAND GROUP IS THE UK’S LEADING LUXURY WATCH SPECIALIST OPERATING IN BOTH THE UK AND US, WITH A COMPLEMENTARY LUXURY JEWELLERY OFFER. The Group comprises of four prestigious retail brands; Watches of Switzerland, Mappin & Webb, Goldsmiths and Mayors and has been transformed over the last five years into a modern, technologically advanced, multi-channel retailer with a foundation of success based on strong watch brand partnerships, impactful marketing and unrivalled customer experience. A range of icons are used throughout this report to highlight our performance in key areas GOVERNANCE FRAMEWORK Our governance framework allows us to consider stakeholders when making key decisions throughout BOARD LEADERSHIP DIVISION OF COMPOSITION, AUDIT, RISK REMUNERATION AND COMPANY RESPONSIBILITIES SUCCESSION & AND INTERNAL the year. PURPOSE EVALUATION CONTROL Read more Corporate governance page 56 OUR STRATEGIC PRIORITIES The Group’s strategy for continued growth and market share is focused across both GROWING BEING A STRONG DELIVERING CONTINUING TO EXPANDING REVENUE PARTNER FOR EXCEPTIONAL DEVELOP BEST IN MULTI-CHANNEL UK and US markets. AND PROFITS OUR LUXURY CUSTOMER CLASS PRACTICES MARKET LEADERSHIP WATCH BRANDS SERVICE Read more Our strategy page 9 AT A GLANCE The Watches of Switzerland Group is the UK’s largest luxury watch retailer with over 35.0% market share and accounting for half of Rolex’s sales in the UK. Sales of our top five luxury watch brands of Rolex, Patek Philippe, Omega, Breitling and TAG Heuer made up 70.0% of the Group’s revenue in FY19. -
VIVENDI TROPHY Continental Europe Vs
VIVENDI TROPHY Continental Europe vs. Great Britain and Ireland The Duel, 15-18 September, 2011 Saint-Nom-La-Bretèche (France) Press release – 18th May, 2011 In the spirit of Severiano Ballesteros Vivendi today announced that Jean Rene Fourtou, Chairman of the Vivendi Supervisory Board, has suggested to the PGA European Tour that the "Vivendi Trophy with Seve Ballesteros" be renamed to "The Vivendi Seve Trophy", in memory of Severiano Ballesteros who really knew, amongst other things, how to develop and support the spirit of match play and Golf as an all-round game. During the day's press conference, Scott Kelly, Marketing Director of the PGA European Tour emotionally welcomed the change on behalf of the PGA European Tour. The 2011 Vivendi Trophy The Vivendi Trophy takes place every two years, alternating with the Ryder Cup. The Vivendi Trophy 2011 will take place from 15th to 18th September at the Saint-Nom-La- Bretèche Golf Course. Following the success of its 2009 version, the second edition of this great competition, initiated and organised by CANAL+ EVENTS, will once again put the 10 best players in Continental Europe in a head to head with the elite of Great Britain and Ireland. A new champion at the helm Jose Maria Olazabal will succeed Colin Montgomerie as the Ryder Cup 2012 Team Captain. The Spanish champion will then head the Seve Trophy 2011. "Txema" may, like Monty did in 2009, oversee and observe the two teams. This arrival is also highly symbolic: we all remember the achievements of the fearsome pair in the Ryder Cup with Olazabal and Ballesteros. -
Investor Overview November 2020 the Wos Group – Luxury Watch Overview
Investor Overview November 2020 The WoS Group – Luxury Watch Overview Luxury watches is a well-protected, high growth market with high barriers to entry, supply-driven dynamics and strong value accretion CHF bn 2019 up 3.0% vs 2018 25 China/HK bubble China/HK correction CAGR: 1970-2019 1996-2019 Exports to the UK up 0.1% 20 +5.4% +4.2% in 2009 15 10 5 0 1970 1975 1980 1985 1990 1995 2000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Long-term Increase in Prices… ...And Sales Volumes (3) Global Swiss Watch Exports ASP Volume Global Swiss Watch Exports(3) +2% 3.7 5.3 5.1 3.5 3.4 3.4 3.4 5.0 4.9 3.2 4.7 4.0 4.1 3.7 2.4 3.7 3.4 1.9 3.4 3.3 3.4 2.9 3.2 3.3 1.2 1.6 1.4 1.5 1.6 1.7 0.5 0.7 2000 2005 2010 2015 2016 2017 2018 2019 2000 2005 2010 2015 2016 2017 2018 2019 Volume in millions Volume in millions ASP in CHF ‘000 (Watches > CHF 3,000) (Watches CHF 500-3,000) Source: Company information, Swiss Watch Federation statistics, OC&C, Bank of England; Note: Swiss Watch Federation data based on Swiss watches across all price ranges unless otherwise indicated. 2 What Makes the Category of Luxury Watches Different Luxury Watches are Underpinned by Unique, Attractive Characteristics • Swiss monopoly: no threat from technology or geography • Demand exceeds supply for key brands: Rolex, Patek Philippe and Audemars Piguet • High barriers to entry: tightly controlled distribution with a high level of investment in stores, merchandising, IT, marketing required; brand partnerships take many years to establish and develop • -
2019 Open Golf Entries
NAME Player 1 Player 2 Player 3 Player 4 Player 5 Player 6 Beattie, Brian Adam Scott Brooks Koepka Dustin Johnson Justin Rose Rory McIlroy Tommy Fleetwood Beattie, Caroline Graeme McDowell Padraig Harrington Phil Mickelson Rory McIlroy Sergio Garcia Tiger Woods Beattie, Cliff Matt Kuchar Jordan Spieth Rickie Fowler Zach Johnson Adam Scott Dustin Johnson Beattie, Conor Bubba Watson Jordan Spieth Jon Rahm Rory McIlroy Shane Lowry Tiger Woods Beattie, Fiona Tiger Woods Matt Kuchar Graeme McDowell Branden Grace Phil Mickelson Zach Johnson Beattie, Mark Brooks Koepka Rory McIlroy Shane Lowry Justin Rose Louis Oosthuizen Matt Kuchar Beattie, Sarah Adam Scott Webb Simpson Cameron Smith Xander Schauffele Paul Casey Thorbjorn Olesen Beattie, Una Bubba Watson Bernd Wiesberger Eddie Pepperell Tiger Woods Xander Schauffele Rickie Fowler Bell, Colin Bryson DeChambeau Rory McIlroy Jason Day Eddie Pepperell Shane Lowry Xander Schauffele Bell, Roisin Tiger Woods Justin Rose Rory McIlroy Francesco Molinari Rickie Fowler Brooks Koepka Brady, Desy Xander Schauffele Brooks Koepka Ian Poulter Rickie Fowler Lee Westwood Dustin Johnson Brady, Joe Brooks Koepka Jon Rahm Francesco Molinari Louis Oosthuizen Rory McIlroy Henrik Stenson Brady, Paul Brooks Koepka Dustin Johnson Francesco Molinari Tiger Woods Phil Mickelson Padraig Harrington Breen, Anthony Andrew Johnston Billy Horschel Bryson DeChambeau Dustin Johnson Kevin Kisner Marc Leishman Brennan, Joe Francesco Molinari Jon Rahm Rory McIlroy Dustin Johnson Brooks Koepka Rickie Fowler Brophy, Marita Andrew Johnston -
History of Rolex
HISTORY OF ROLEX Rolex’s status and identity are products of a history driven by a passion for innovation and a constant quest for excellence. A succession of pioneering achievements encompassing a watchmaking, industrial and human adventure, this story is interwoven with the history of the Oyster, the first waterproof wristwatch. Launched in 1926, the Oyster was the starting point for a collection of legendary watches. HISTORY OF ROLEX The success of Rolex is inextricably linked to the extraordinary spirit of enterprise of its founder, Hans Wilsdorf (1881-1960). Through his visionary genius and uncommon capacity to embrace all fields of the company’s activities – technology, communication, organization and distribution – and as the head of the company for more than 50 years, Hans Wilsdorf set the course for an adventure which has given rise to exceptional watches and an unparalleled brand. Today, his personality and his work continue to inspire the company and permeate its corporate culture. The entrepreneur’s influence is also evident in the aesthetics and principal characteristics of the watches that remain faithful to the original Oyster, as well as in Rolex’s ability to draw on its prodigious heritage to continuously advance towards new horizons. HANS WILSDORF AND HIS VISIONARY GENIUS The Rolex adventure began in the early 1900s. Born in Bavaria, Germany, Hans Wilsdorf started his career in watchmaking in La Chaux-de-Fonds, Switzerland. In an era when pocket watches were the order of the day, he was quick to see the potential of the wristwatch for the 20th century, despite their not yet being very precise and being generally considered to be items of jewellery of particular appeal to women. -
THE PLAYERS Championship Tournament Records
Table of Contents Schedule of Events................................................................. 2-3 THE PLAYERS 1993 .............................................................. 168 Player Eligibility ......................................................................... 4 Hole-by-Hole Summary and Scoring Recap .................... 169 Broadcast Schedule .................................................................. 5 THE PLAYERS 1994 .............................................................. 170 Tournament Officials ................................................................ 6 Hole-by-Hole Summary and Scoring Recap .................... 171 Style Reminder .......................................................................... 6 THE PLAYERS 1995 .............................................................. 172 Tournament Fact Sheet.......................................................... 7-9 Hole-by-Hole Summary and Scoring Recap .................... 173 History at a Glance.................................................................. 10 THE PLAYERS 1996 .............................................................. 174 Timeline History of THE PLAYERS .....................................11-12 Hole-by-Hole Summary and Scoring Recap .................... 175 Official Scorecard for 2020 ..................................................... 12 THE PLAYERS 1997 .............................................................. 176 Hole-by-Hole Summary and Scoring Recap .................... 177 COMPETITORS’ CAPSULES -
For Immediate Release Antiquorum Presents
FOR IMMEDIATE RELEASE ANTIQUORUM PRESENTS IMPORTANT MODERN & VINTAGE TIMEPIECES SATURDAY, JUNE 26th, 2021 FORTE DEI MARMI AUCTION RESULTS The outstanding Important Modern & Vintage Timepieces Forte dei Marmi auction, in collaboration with Deangelis, achieved an outstanding EUR 4,4 million (incl. buyer’s premium) and two world records. MILAN, ITALY (June 29th, 2021) — On Saturday June 26th, 2021, Antiquorum, the world’s premier auctioneers of modern and vintage timepieces established in Geneva in 1974, hosted its very first outdoors auction in Forte dei Marmi, in collaboration with Deangelis. The last Antiquorum auction in Italy, was 25 years ago, on March 25th, 1996, in Milano, in Palazzo Dei Giureconsulti. Therefore, this event in Alpemare, which ended in remarkable results (EUR 4,401,835 incl. buyer’s premium), marks the return of Antiquorum to Italy and evidences the enthusiasm of the Italian market. More than 200 lots went under the hammer during the auction that began at 6:00PM and went on to 9:00 PM. Buyers are back in the room, with 51% of bidders that came in person in addition to bidders from all over the world logged in on Antiquorum.swiss. With rare lots from brands such as Rolex, Audemars Piguet and Patek Philippe, this auction demonstrated great interest amongst collectors and lovers of great watchmaking. “Coming back to the Italian soil to organize an auction after so long, 25 years, was a true challenge that our teams overcame with great success, in collaboration with Deangelis. After the international quarantine, it was such a joy to welcome back bidders in the room; actually, more precisely, on a beach, which makes this event our very first outdoor auction. -
Trade Mark Decision O/206/16
O-206-16 TRADE MARKS ACT 1994 IN THE MATTER OF INTERNATIONAL TRADE MARK REGISTRATION NO. 1225515 BY THE POLO/LAUREN COMPANY, L.P. TO REGISTER: AS A TRADE MARK IN CLASSES 9, 14, 18 & 25 AND IN THE MATTER OF OPPOSITION THERETO UNDER NO. 403732 BY ROLEX SA Background and pleadings 1) On 25 July 2014, The Polo/Lauren Company, L.P. (“the applicant”) requested protection in the UK of the International Registration (“IR”) for the following trade mark: 2) The UK Trade Marks Registry considered the request for IR (no. 1225515) to be accepted for protection and subsequently published the IR in the Trade Marks Journal 2014/051 on 12 December 2014 for the following goods: Class 9: Binoculars, pince-nez cases, pince-nez, pince-nez cases, eyeglass chains, eyeglass cords, eyeglass frames, eyeglass chains, eyeglass cords, eyeglasses, spectacle cases, spectacle frames, spectacle lenses, spectacles (optics), cases for sunglasses, straps for sunglasses, frames for sunglasses, chains for sunglasses, sunglasses. Class 14: Precious metals and their alloys and goods made of these materials or coated therewith not included in other classes, namely boxes of precious metal, jewelry boxes, cases for watches and clocks, badges of precious metal, ingots of precious metals, hat ornaments of precious metal, cuff links, tie pins, hat pins [jewelry], ornamental pins, badges [jewelry], tie pins, key rings of precious metal, clasps for jewelry, shoe ornaments [of precious metal], silver thread [jewelry]; articles of jewelry, precious stones; timepieces and chronometric instruments. Class 18: Attaché cases, backpacks, beach bags, briefcases (leather goods), walking sticks, card cases (wallets), handbags, key cases, shoulder belts (straps) of leather, parasols, wallets, purses, clutch bags, school satchels, satchels, shopping bags, suitcases (carrying cases), covers for suits, shirts and dresses, travel bags, traveling trunks, suitcases, umbrellas, wallets.