The Line Between Men's and Women's Watches Is Blurring, As Size And

HAUTE METAL HAUTE experiment Jewelers techniques with new a myriad to bring of colors to precious metals. 58 p. Features, RUNWAY RUNWAY WRIST TO brands luxury More their linking are to their watch designs looks. runway 10 p. Accessories, ANOTHER ANOTHER GOODBYE and Alber Elbaz Lanvin: The latest the hit to divorce world. fashion 70 p. Diary, Foley’s Bridget 800 JAPAN ¥1500 JAPAN CHINA ¥80 HONG KONG HK100 INDIA US $9.99 $13CANADA UK £ 8 €EUROPE 11 The line between men’s The line between men’s watches and women’s is blurring, as size and on style trump gender the wrist.

Fashion. Beauty. Business. Business. Beauty. Fashion.

No. 1 No.

Two Times Times 2015 2015 NOV NOV

TIMES TWO “I personally heard from people who credit Apple Watch with saving their lives.” TIM COOK DAVIDYURMAN.COM 888-DYURMAN Features The luxury jewelry. rainbow, essentially redefining intometals every colorofthe techniques to convert precious with novel plating andheating 58 Haute Plates gender-neutral chic. with that flaunt theirmodernity traditional dialsandclassicbands alternatives intimepieceswith watchmakersthe wrist, offer 48 On theOtherHand

Jewelers are experimenting As technology assaultsAs was hitwithanotherbigdivorce lastweek, Separation Anxiety: world Thefashion between AlberElbazandLanvin. between Bridget Foley’s page 70 Diary, SENIORFASHION FEATURES EDITOR BEAUTY SENIOREDITORS, FINANCIAL EDITOR SENIOREDITOR, RETAIL SENIOREDITOR, SPECIAL PROJECTS, EXECUTIVE EDITOR, EUROPE FASHION/SPECIAL REPORTS PR DIGITAL DAILY DESIGNER WEB COORDINATOR PRODUCER PHOTO STUDIO ASSISTANT PHOTOGRAPHERS PHOTO SAN FRANCISCO, TECHNOLOGY DIRECTOR PARIS, GENERALASSIGNMENT PARIS, EDITORIAL ANDWEBASSISTANT REPORTER, PARIS, SENIORBUSINESSNEWSEDITOR PARIS, EUROPEAN BEAUTY EDITOR NEWYORK, FASHION ASSISTANTS NEWS LOS LONDON, GENERALASSIGNMENT SPORTSWEAR FURS &INNERWEAR FASHION ANGELES READY-TO-WEAR &SPORTSWEAR NEWS FASHION FINANCIALNEWSANDANALYSIS ACCESSORIES EYE EDITOR

Maxine EllenThomas Wally Misty White Sidell Kayana Cordwell Kelsi Zimmerman REPORTER

TEXTILES &TRADE

BOOKINGS ANDPRODUCTION EDITOR DEPUTY EDITOR,DEPUTY DATA ANDANALYSIS NEW YORK, EDITORIAL ASSISTANTS SENIOR EDITOR, SPECIALTY RETAIL ACCESSORIES MARKETDIRECTOR PARIS, SENIORFASHION EDITOR BUREAU CHIEF, LOS ANGELES BUREAU CHIEF, WASHINGTON FASHION MARKETDIRECTOR MILAN, FASHION ANDNEWS DEPUTY MANAGINGDEPUTY EDITOR ASSISTANT ONLINEEDITOR ASSOCIATE PHOTO EDITOR SENIOR PRESTIGE MARKET SOCIAL MEDIAMANAGER DEPUTY FASHIONDEPUTY EDITOR SENIOR FASHION EDITOR BUREAU CHIEF, LONDON MEN’S MARKETEDITOR PREPRESS ASSEMBLY BUREAU CHIEF, MILAN WEB EDITOR, EUROPE READY-TO-WEAR AND CREATIVE DIRECTOR SITTINGS DIRECTORSITTINGS FASHION DIRECTOR MANAGING EDITOR, ASSOCIATE EDITOR ASSOCIATE EDITOR MANAGING EDITOR SENIOR DESIGNER MEN’S REPORTER DIGITAL IMAGING NEWS DIRECTOR READY-TO-WEAR, SENIOR EDITOR PREPRESS PRODUCTION SITE DIRECTOR COPY EDITORS PHOTO EDITOR ASIAN EDITOR DESIGN DEPARTMENTDESIGN EXECUTIVE EDITOR, BEAUTY GROUP DESIGNDIRECTOR COPY CHIEF PUBLIC RELATIONS CORRESPONDENTS MARKET EDITORS DESIGNER PHOTOGRAPHY PHOTO STUDIO Edward Nardoza EXECUTIVE EDITOR John B. Fairchild BEAUTY DIGITAL EDITOR INCHIEF James Fallon Bridget Foley MEDIA COPYDESK WWD.COM Robb Rice Pete Born 1927 —2015 EYE MEN’S EDITOR

Christina Mastroianni Pooja Bhaskar Robert Tutton Ryan Richmond Kristen Tauer Michelle Preli David Lee Chin Alex Sharfman Danielle Gilliard, DavidPodgurski, Maureen Morrison-Shulas Thomas Iannaccone George Chinsee, Steve Eichner, Emily Taylor Katrina Brown Oona Wally Jenna Greene Ash Barhamand Jewelyn Butron Christa Guerra Nick Mrozowski Maghan McDowell Laure Guilbault Anne-Aymone Gheerbrant Paulina Szmydke Joelle Diderich Laurent Folcher Jennifer Weil Andrew Shang, Ashley Davis, Tara Bonet-Black, William Cotto, Alessandra Turra Khanh T.L. Tran Lorelei Marfil Ally Betker, Leigh Nordstrom Kristi Garced Alexandra Steigrad Rosemary Feitelberg Bobbi Queen Rachel Strugatz Molly Prior Lauren McCarthy, Debra Borchardt Aria Hughes Luis Campuzano Alex Badia Jean E. Palmieri Taylor Harris Mayte Allende Roxanne Robinson Jessica Iredale Julie Naughton Sharon Edelson Jenny B. Fine Bobbi Queen Kristi Ellis Amanda Kaiser Marcy Medina Luisa Zargani Samantha Conti Lorna Koski Arnold J. Karr, Friedman Arthur David Moin Alex Badia Donna Heiderstadt ZaczkiewiczArthur Lisa Lockwood Evan Clark Miles Socha Dianne M. Pogoda Peter Sadera

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Photograph by Giovanni Giannoni Precious Butterfly Automatic36 mm Harry WinstonPremier NEW YORK BEVERLY HILLSLAS VEGAS CHICAGO DALLASHONOLULU SOUTH COASTPLAZA BALHARBOURMIAMIDESIGNDISTRICT HARRYWINSTON.COM 800 8483948 Contents

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ADVERTISING INTERNATIONAL FASHION DIRECTOR, Renee Moskowitz RMM MEDIA EXECUTIVE DIRECTOR, MEN’S Brett Mitchell BEAUTY DIRECTOR Carly Gresh AMERICAN FASHION & Jennifer Petersen LUXURY DIRECTOR ACCOUNT DIRECTOR Samantha Hartje ACCOUNT EXECUTIVES Amy Keiser Shannon Fitzgerald SENIOR CLIENT SERVICES MANAGER Joanna Block CLIENT SERVICES MANAGERS Annie Belfield Rachael DeSantis Tina Schissel REGIONAL OFFICES/INTERNATIONAL OFFICES WEST COAST DIRECTOR Jill Biren +1-323-965-7283 EUROPEAN ACCOUNT DIRECTOR, ITALY Giulia Squeri +39-02-722-33602 ACCOUNT DIRECTOR, ITALY Olga Kouznetsova +39-02-722-33603 Attendees at spring fashion weeks SENIOR SALES COORDINATOR, ITALY Emanuela Altimani EUROPEAN DIRECTOR, FRANCE Valérie Deschamps-Wright around the globe took a shine to jewelry. +33-1-44-51-07-611 EUROPEAN SALES REPRESENTATIVE Marjorie Thomas They Are Wearing, page 68 +33-240-31-6541 ADVERTISING ASSISTANT, FRANCE Pascale Rajac DIGITAL/MARKETING/CREATIVE SERVICES MARKETING DIRECTOR Shannon Nobles CREATIVE DIRECTOR, MARKETING Cass Spencer DIGITAL MEDIA STRATEGIST Cassie Leventhal DIGITAL SALES PLANNER Suzette Minetti AUDIENCE MARKETING VICE PRESIDENT Ellen Fairbanks Dealy CONSUMER MARKETING DIRECTOR Peggy Pyle Agenda SENIOR DIRECTOR, DIGITAL MARKETING Janet Menaker & STRATEGIC DEVELOPMENT SENIOR DIRECTOR FINANCE, PLANNING Sean McDermott AND OPERATIONS PLANNING & OPERATIONS DIRECTOR John Cross SENIOR DIRECTOR, Randi Segal INSTITUTIONAL SALES SENIOR ONLINE MANAGER Suzanne Berardi SENIOR MARKETING MANAGER Tamra Febesh ASSOCIATE MARKETING MANAGER Lauren Busch PRODUCTION PRODUCTION DIRECTOR Kevin Hurley PRODUCTION MANAGER Providence Rao SUMMITS & EVENTS Fashion 10 Accessories 16 Retail 22 VICE PRESIDENT, NEW VENTURES & GM Amber Mundinger What it takes to go from runway Giampiero Bodino bets on bespoke Hot watch shops in London EXECUTIVE EDITORIAL DIRECTOR Mary Ann Bacher DIRECTOR, ATTENDEE SALES Kim Mancuso to wrist . . . Red coral’s shrinking jewelry . . . Harry Winston’s and Hong Kong and what SPONSORSHIP DIRECTOR Alexis Coyle supplies and spiking prices. butterﬂy beauties. makes them sizzle. DIRECTOR OF Amelia Ewert EXPERIENTIAL MARKETING FAIRCHILD PUBLISHING LLC Stephanie George PRESIDENT AND VICE CHAIRMAN

EDITORIAL DIRECTOR OF Michael Atmore FOOTWEAR NEWS & DIRECTOR OF BRAND DEVELOPMENT FINANCE DIRECTOR Devon Beemer DIRECTOR OF EUROPEAN OPERATIONS Ron Wilson

Markets 24 32 WWD AND FAIRCHILD PUBLISHING LLC Fashion is squaring off with Apple for the James Bond’s newest watch premiers ARE DIVISIONS OF PENSKE MEDIA CORPORATION potentially lucrative smartwatch market . . . with the latest 007 film, “Spectre” . . . Jay Penske An update on Shinola . . . China’s changing Breitling’s chief weighs in on the China CHAIRMAN & CEO consumer patterns . . . data points. effect and the smartwatch. VICE CHAIRMAN Gerry Byrne EXECUTIVE VICE PRESIDENT, George Grobar STRATEGY AND OPERATIONS EXECUTIVE VICE PRESIDENT, Paul Woolnough DEPARTMENTS BUSINESS AFFAIRS SENIOR VICE PRESIDENT, Craig Perreault 8 Social Studies fashion and romance. BUSINESS DEVELOPMENT GENERAL COUNSEL & Todd Greene The best and worst in social media, • Report Card Naomie Harris glitters, Ethan SVP HUMAN RESOURCES what’s trending, whom to follow. Hawke’s a hunk, Dakota Johnson surprises — but VICE PRESIDENT, CREATIVE Nelson Anderson VICE PRESIDENT, FINANCE Ken Delacazar Allison Williams misses the mark. 43 Eye VICE PRESIDENT, HUMAN RESOURCES Tarik West • Arts & Culture Isn’t It Romantic? Hal Rubenstein’s • Celebrity Watches An endorsement deal is a sure VICE PRESIDENT, ENGINEERING Gabriel Koen DIRECTOR OF COMMUNICATIONS Lauren Gullion latest love tome explores the relationship between sign of a career that’s ticking. DIRECTOR OF OPERATIONS Joni Antonacci CONTROLLER Young Ko SENIOR PROGRAM MANAGERS Christina Yeoh, ON THE COVER: PHOTOGRAPH BY SCOTTIE CAMERON Derek Ramsey ON HER: Louis Vuitton watch. ON HIM: Baume & Mercier watch; Canali wool suit, Dunhill cotton shirt. Bulgari cuff links. DIRECTOR, ADVERTISING OPERATIONS Eddie Ko DIRECTOR OF TALENT ACQUISITION Andy Limpus DIRECTOR OF IT OPERATIONS Rick Gascon, WWD IS A REGISTERED TRADEMARK OF FAIRCHILD PUBLISHING, LLC. COPYRIGHT ©2015 FAIRCHILD PUBLISHING, LLC. ALL RIGHTS RESERVED. PRINTED IN THE U.S.A. VOLUME 210, NO. 26, Wednesday, Novem- & PRODUCTION Matt Williamson ber 4, 2015. WWD (USPS 689-960, ISSN 0149-5380) is published weekly, with one additional issue in February, March, June, October, November and December, and two additional issues in April and August by Fair- SENIOR IT ANALYSTS Carl Foner child Publishing, LLC, which is a division of Penske Business Media, LLC. PRINCIPAL OFFICE: 475 Fifth Ave, New York, NY 10017. Periodicals postage paid at New York, NY, and at additional mailing offices. Canada Post: return undeliverable Canadian addresses to P.O. Box 503, RPO West Beaver Cre, Rich-Hill, ON L4B 4R6. POSTMASTER: SEND ADDRESS CHANGES TO WWD, P.O. Box 6356, Harlan, IA, 51593. FOR SUBSCRIP- Aramis Miranda-Reyes TIONS, ADDRESS CHANGES, ADJUSTMENTS, OR BACK ISSUE INQUIRIES: Please write to WWD, P.O. Box 6356, Harlan, IA, 51593, call 866-401-7801, or e-mail customer service at [email protected]. IT ANALYSTS Don Gerber Please include both new and old addresses as printed on most recent label. For New York Hand Delivery Service address changes or inquiries, please contact Mitchell’s NY at 1-800-662-2275, option 7. Subscrib- ers: If the Post Office alerts us that your magazine is undeliverable, we have no further obligation unless we receive a corrected address within one year. If during your subscription term or up to one year after the Fred Baez magazine becomes undeliverable, you are ever dissatisfied with your subscription, let us know. You will receive a full refund on all unmailed issues. First copy of new subscription will be mailed within four weeks after receipt of order. We reserve the right to change the number of issues contained in a subscription term and/or the way the product is delivered. Address all editorial, business, and production correspon- TO CONTACT WWD dence to WWD, 475 5th Ave, 15th Floor, New York, NY 10017. For permissions requests, please call 212-630-5656 or fax request to 212-630-5883. For reprints, please e-mail [email protected] or call Wright’s Media 877-652-5295. For reuse permissions, please e-mail [email protected] or call 800-897-8666. Visit us online at www.wwd.com. To subscribe to other Fairchild Media, LLC magazines on the EDITORIAL +1-212-256-8130 World Wide Web, visit www.wwd.com/subscriptions. WWD IS NOT RESPONSIBLE FOR THE RETURN OR LOSS OF, OR FOR DAMAGE OR ANY OTHER INJURY TO, UNSOLICITED MANUSCRIPTS, UNSOLICITED ART ADVERTISING +1-212-256-8102 WORK (INCLUDING, BUT NOT LIMITED TO, DRAWINGS, PHOTOGRAPHS, AND TRANSPARENCIES), OR ANY OTHER UNSOLICITED MATERIALS. THOSE SUBMITTING MANUSCRIPTS, PHOTOGRAPHS, ART WORK, OR OTHER MATERIALS FOR CONSIDERATION SHOULD NOT SEND ORIGINALS, UNLESS SPECIFICALLY REQUESTED TO DO SO BY WWD IN WRITING. MANUSCRIPTS , PHOTOGRAPHS, AND OTHER MATERIALS CIRCULATION +1-515-237-3650 SUBMITTED MUST BE ACCOMPANIED BY A SELF-ADDRESSED STAMPED ENVELOPE.

6 NOVEMBER 2015, No. 1 WWD.COM Social Studies EDITED BY KRISTEN TAUER THE WEEK IN SOCIAL MEDIA Best Worst

“Franz Kafka: the story of an encounter” Disney characters are no match for a Warning: “Metamorphosis” doesn’t end well. Victoria’s Secret Angel.

@etro_official @lilyaldrige Brand Model

“That’s the kind of traffic jam we love to see. A big congratulations to those who ran the New York Marathon today. You rock! #NYCMarathon” LIFE IS ABOUT MOMENTS @athleta Brand CELEBRATING ELEGANCE SINCE 1830

“American Gothic” finally got an updated Miroslava Duma and Tabitha Simmons took look for spring. the term “fashion plate” to heart. American Apparel needs some new clothes — its current look no longer fits.

@gucci @miraduma @americanapparelus Fashion Brand Entrepreneur Brand

PROMESSE STEEL, 34 MM, QUARTZ #TheyAreWearing Let’s Follow 69 DIAMONDS Show us your best street style. Tag your photos on www.baume-et-mercier.com Instagram and Twitter with #TheyAreWearing for an opportunity to be featured by WWD.

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8 NOVEMBER 2015, No. 1 WWD.COM Follow Us @WWD FashionAgenda EDITED BY DONNA HEIDERSTADT

From left: The timepieces and their runway inspirations: Dior’s VIII Grand Bal Pièce Unique “Envol” N°8 watch and a look on the Dior Haute Couture spring 2015 runway; Louis Vuitton’s Tambour Damier Graphite Rope men’s watch and on the men’s fall runway; Versace’s V-Race chronograph watch and the look from spring; Fendi’s Crazy Carats Shearling Collection watch and the fall look.

t turns out even timepieces are not immune Switzerland, last March. last five minutes before the [models walk], so even to seasonal trends. In return, timepieces are increasingly carving out though you have prepared specific products for Swiss watchmakers like to tout their a piece of runway action. At Versace’s spring show the catwalk, you’re not guaranteed they will come wares as timeless antidotes to disposable in Milan in September, for instance, models sported out,” he said. fads, such as their current bête noire, the watches in colors and prints that matched the Marai is sensing a growing interest from brands IApple Watch. But a growing number of military-inspired clothes. One of these, the V-Race toward their watchmaking activities, whether From Runway chronograph model, to be launched in February, handled in-house or produced through a licensee. fashion brands are seeking to bring runway influences to their customers’ wrists, without sac- will be sold with two spare straps in patterns seen “Certainly, there is a kind of evolution. I think Designers are increasingly using luxury rificing any of the luxury and know-how implicit in on the runway, priced $2,595. fashion houses have realized that watches are the “Swiss made” label. That kind of synergy might seem natural, but for among the most luxurious things they can use to timepieces as high-end ambassadors of Louis Vuitton, Dior, Fendi and Burberry were Paolo Marai, president and chief executive officer of advertise the brand, so the more they’re capable to Wrist their collections. among the brands presenting creations directly the Swiss luxury division of Timex Group — which of having the watches on the catwalk and in the linked to their ready-to-wear or handbag collections produces watches for Versace and its sibling brand advertising campaign, the more it gives a kind of By JOELLE DIDERICH at the Baselworld watch and jewelry fair, the indus- Versus — every runway appearance is a cliffhanger. luxury to the brand itself,” he said. try’s premier showcase, which was held in Basel, “The final decision sometimes happens in the Marai said having a small assortment of ►

10 NOVEMBER 2015, No. 1 WWD.COM WWD.COM NOVEMBER 2015, No. 1 11 seasonal models to complement its pillar timepiece collections helps drive sales in monobrand stores, which account for up to 30 percent of Versace’s watch volume. Agenda “We see that sales are tremendously increased when the watches are displayed on the catwalk, so for us, it’s a really relevant tool for communication,” he noted.

Fashion Occasionally, brands include a timepiece in their rtw ad campaigns. When they do, the effect can be memorable: Think of a sultry Madonna in Versace’s spring ads, posing with her thumb in her mouth while sporting a chunky Dylos watch. Industry officials note that introducing seasonal elements is not always easy, since wristwatches typically have longer development cycles than rtw and handbags. In that respect, brands that produce their watch lines in-house have a natural advantage. A case in point is Fendi, which has sharply upped the fashion quotient of its timepieces since absorb- ing its watch licensee Taramax in 2013. “Each season, our product teams work closely together to convey a message enhancing our values and DNA,” said Pietro Beccari, ceo of Fendi. “We are always striving to reach new levels of craftsmanship and this willingness is shared across all categories. The teams in ready-to-wear, shoes, leather goods, accessories and timepieces are in constant communication.” This season, its Crazy Carats collection features two models, priced at $7,800, with handmade shearling cuffs in geometric motifs that are directly inspired by the coats and bags featured in the current fall rtw collection. By making the bands removable, Fendi ensures the watches don’t have a built-in sell-by date. Hamdi Chatti, vice president of fine jewelry and watches at Louis Vuitton, said while he enjoys the energy that comes from the fashion side of the business, it’s not always easy to translate to CITIZEN WATCH COMPANY OF AMERICA the wrist. “If you can harness that energy, you can obtain Proudly announces the opening of our new sales and exceptional products,” he said. “What you must not do, and what we don’t do, is just put out a e¡ecutie oĜ ces located in the heart of ǯ so-called fashionable watch. It makes no sense. A

watch is a timeless product. tri “The challenge is how to bring in creative influences in a very short time frame, because the production cycles are not the same, and above all, how to succeed in capturing an essence, a style, using such a small surface.” Chatti recently pulled it off with a men’s watch From left: Dior’s VIII Grand Bal “Plissé designed to complement the fall men’s line, Soleil” watch and the Dior Haute Couture inspired by London designer-artist Christopher spring 2015 inspiration; Dior’s VIII Montaigne Nemeth. fall 2015 watch and the fall runway look. Although Kim Jones, men’s artistic director at Louis Vuitton, approached him only weeks before the show, Vuitton’s in-house workshop was able to with swooshes of lacquer, mother-of-pearl or turn out a three-dimensional engraved dial featur- “We see that sales are baguette-cut diamonds, set against a backdrop of ing Nemeth’s signature Rope motif. Produced in a tremendously increased strips of iridescent beetle wings. limited run, the watches promptly sold out. In tandem, Dior introduced rtw pieces this year Still, matching timepieces to runway product when the watches are via a new seasonal Dior VIII Montaigne collection. remains an ad hoc process, Chatti noted. “If the displayed on the catwalk, so The fall edition in steel features a burgundy dial next theme is not as easy to translate, or if the and matching calfskin strap. designer does not feel like it, we are quite relaxed for us, it’s a really relevant “It’s a real challenge to develop the techniques about that kind of thing. There is no obligation.” used to transpose the haute couture know-how Indeed, with its constant revolving door of tool for communication.” into watchmaking. The process is long and com- designers and executives, fashion is subject to stylis- Paolo Marai, Timex Group plex and, as an example, it took several years to tic upheavals that are anathema to the Swiss watch develop the Dior Grand Bal Cancan oscillating industry, where some brands have been producing weight with its feathers,” said a Dior spokesman. minute variations on the same design for decades. haute couture through its Dior VIII Grand Bal and “It’s a great advantage for the timepieces studio A recent example is Dior, which is searching Dior Grand Soir timepieces, which use materials to share the same address as the haute couture for a new creative director of women’s collections like feathers, embroideries and lace to evoke spe- ateliers on Avenue Montaigne. This allows us to be following the surprise departure of Raf Simons. cific runway looks. very responsive to create seasonal collections and CITIZEN WATCH COMPANY OF AMERICA CITIZEN FLAGSHIP STORE CITIZEN WATCH COMPANY OF AMERICA The French house has made fashion a key differ- Its Dior VIII Grand Bal Pièce Unique “Envol” to be very fast in production right after the shows.” SALES AND EXECUTIVE OFFICES 1500 BROADWAY (43RD ST) HEADQUARTERS entiating factor for its high-end designs since 2011, watches mirror Simons’ streamlined collections Just as well: The inspiration for next year’s 1120 AVENUE OF THE AMERICAS NEW YORK, NY 10036 1000 WEST 190TH ST. when it introduced the watchmaking equivalent of with dials featuring oscillating weights embellished collections is, at this point, anybody’s guess. ■ Davide Maes by runways and Fendi Giannoni; Versace Giovanni by Vuitton and Louis Montaigne “Envol,” for photographs Dior runway 10TH FLOOR 212.658.1518 TORRANCE, CA 90502-1040

12 NOVEMBER 2015, No. 1 WWD.COM NEW YORK, NY 10036 800.321.1023 646.438.8150 What is Red Red coral grows History of Red Mediterranean seabed affected in another envi- materials — like jade and average exchange for the period), but in light of between 0.2 and 2 break coral off its rocky ronmental catastrophe5. ivory. Because Mediterra- surging demand, he would sell the same piece Coral? centimeters in length, Coral anchoring, along with any Besides temperature nean and Pacific red coral now for more than 200,000 pounds ($306,000 at ORed coral, or Corallium and between 0.24 ORed coral, according to additional flora and fauna hikes, an atmospheric is the only species that is Red Hot rubrum, is a branch-form- and 1.32 millimeters in archaeologists, has been in its path2. increase in carbon dioxide scarlet inside and out, the current exchange). Five years ago, the same neck- Agenda The price of precious ing coral species found in diameter, annually. Due to prized since the Neolithic — the byproduct of burning coral’s color plays into the lace would have cost between 50,000 and 60,000 the Mediterranean Sea commercialized fishing, era, when it was harvested What is fossil fuels — has led to Chinese cultural adage pounds ($76,000 and $93,000 at average exchange Mediterranean red coral jewelry it’s now uncommon for for ornamental usage. an acidification of ocean of red items signifying and is the most valuable Dredging? Red coral for the period). He reports that coral is presently is soaring under unprecedented of all precious corals. Sim- the species to reach its Minoan and Mycenaean in its water worldwide. For coral, good luck and fortune, he valued at about $1,000 per gram, compared to ilarly structured red corals historical full size of 30 to civilizations have been OThe bulk of the Med- natural living in acidic water, “is explained. Fashion between $250 and $300 five years ago. Chinese demand. But overfishing located in the Pacific 50 centimeters1. documented using red like putting chalk in a jar iterranean’s red coral habitat off “A year or two ago, we would go to trade shows. and environmental changes have Ocean are also being Corals, red varieties coral for jewelry and population was lost at the coast of vinegar,” Spalding said, 1 Chinese fishing Now it’s not even necessary — the demand is so harvested for jewelry. included, are a colonizing decoration . the hands of “dredging,” of Corsica. and impedes the coral’s placed the prized scarlet species Unlike reef corals, red coral creature and build their The red coral trade a harvesting technique ability to grow. In Japan high that we know everything we make will be is found deep in the sea calcium carbonate skel- achieved particular that “is like clear-cutting Red coral growth OWith Mediterranean sold,” Scognamiglio said. “Diamonds you can find in a vulnerable state. on a much smaller basis of commercially viable.” (up to 600 meters)4 and eton slowly via multiple efficiency in ancient for the ocean,” said Green- rates have already been supply chains on lock- as long as you have money, but with coral it’s not biomass.” By MISTY WHITE SIDELL builds treelike formations generations of inhabi- Greece, when fishermen peace’s Hocevar. “You can observed to be slowing. down, Chinese demand Today in Italy, red coral a matter of how much money you have — you just rather than bulk masses. tants. While red corals developed an implement, probably compare it to Ocean pH According to a report has led local fisherman to branches are harvested won’t be able to find it.” It’s also the only species do not provide as dense dubbed “St. Andrew’s hunting for squirrels with published by The General seek out red coral beds in with chisels by a limited Change Scognamiglio’s family hails from Torre del that is red, both inside and a habitat structure as Cross” — intersecting a bulldozer in the forest Fisheries Commission deep waters off the coast all them the diamonds contingent of 100 licensed O Greco, a small fishing town near Naples, Italy, that out; other corals owe their reef-creating species, their wooden planks covered — it destroys everything Worldwide, coral faces for the Mediterranean: of Japan. There, the coral scuba divers who are only of the sea. Jewelry made color to a thin outer layer branches are “some of the in netting — that when around it.” deficits beyond overfish- “Throughout the Med- population is “deeper has been the royal-ordinated capital of Europe’s allowed to fish in rotating from Mediterranean red of algae. only three-dimensional dragged across the Dredging practices were ing. Mass-mortality events iterranean, C. rubrum than you can go with red coral trade since the 18th century. The town sea beds from May coral has found a new, structures…in a way that outlawed by the European and ocean temperature populations have shown a scuba,” said Greenpeace’s is home to approximately 400 red coral manufac- through September. shifts have stalled red unprecedented level of creates hiding places or Union in 19943, but in the dramatic decrease in their Hocevar, who added the turers, mostly owned and operated by about 15 Regardless, it would take coral’s recovery. “We have shelter,” said John Hoce- lead-up to its abolition, size, age, structure and poaching is likely being desirability among Chi- immense conservation a tremendous amount of industry legacy families. They purchase raw coral var, Greenpeace oceans “you had people arrange reproductive output over done with dredging tech- nese consumers — whose efforts to restore the temperature, chemistry harvested by divers off the coast of the Mediterra- campaign director. to have a lot of red and the last 20 years.” niques. “Because it’s such insatiable penchant for Mediterranean’s red coral and other threats to coral, nean and transform the scarlet, calcified branches C pink coral taken out of the a lucrative item, there are population to pre-dredging which means you have the rare marine skele- Mediterranean before people willing to take risks into jewelry. numbers. According to to be very certain that Why the tons and their fortuitous red color has sent their the ban went into place — and fish illegally.” Scognamiglio also reports that 90 percent of his The General Fisheries harvesting methods are cost skyrocketing by up to 500 percent in the last which reduced the amount Chinese Coral poaching has clientele is Chinese. His firm has temporarily halted Commission for the Medi- not exceeding the abilities three years. But a double whammy of human dis- [of red coral] left in a very Interest? strained relations its production of cameos in favor of polished beads terranean: “Sardinia, Sicily, of animals to reproduce rapid moment,” said Spal- between Japan and China. turbance — direct by overfishing and indirect by and parts of the French [in this environment],” said OChinese interest because “when you carve coral, you are wasting a ding. “Now we see more Japanese media reported climate change — has left the sea’s slow-growing and Spanish seacoasts all Spalding. in coral, according to lot of it — and at this price point, it doesn’t make sustainable harvesting that in 2014, the Japanese red coral population in a state of decimation. had significant Corallium Shortly after the EU’s Scognamiglio, is in line sense.” practices, but they focus government seized 16 banks in the 1950s, but with the country’s partial- The Mediterranean’s red coral colonies — most dredging ban, red coral Chinese fishing vessels, most have been overex- ity toward other opaque concentrated off the coast of Sardinia, but with off the coast of Provence, but has spotted hundreds hile his business may be roaring, ploited and are no longer pockets as far north as Spain’s Costa Brava and the France, experienced a mining coral from its it is doing so amid a jewelry French Riviera — now only yield an estimated 25 mass-mortality event, with waters in the last year. industry largely divided on the a fungal and protozoan percent of their original harvest, said a researcher hot-button issue of coral usage. disease “linked to tem- W at the Universitat de Barcelona, noting it would perature anomalies”4 kill- In 2002, Tiffany & Co. publicly take a 60-year harvesting ban for red coral to ing millions of colonies in declared it would not use red coral in any of its recover its population to sustainable levels1. 1999. In 2003, 40 percent future designs, claiming that the label prides With Italian harvesting parameters now lim- of colonies off the nearby itself on sustainable practices and that it could iting supply even further, and Chinese demand coast of Marseille were Corallium rubrum is the only not source red coral in keeping with that stan- only growing, the search for red coral has begun coral varital that is red dard. “Although our coral sales before 2002 were stirring geopolitical tensions. European supplies “Diamonds you can find as long as both inside and out. Other minimal, when we came to understand the lack corals derive their color from are tight, and Chinese fishermen have been spot- of traceability in our coral supply chain and the an outer layer of algae. ted illegally dredging deep waters off the coast of you have money, but with coral it’s not issues with red and pink coral in particular, we Japan — a land far outside their legal jurisdiction — a matter of how much money you made the decision to stop selling it,” Anisa Kama- in search of Pacific varieties that closely resemble doli Costa, chairman and vice president for The the Mediterranean’s Corallium rubrum, agitating have — you just won’t be able to find it.” Tiffany & Co. Foundation, stated. The firm joined the two nations’ already tenuous relationship. a public pledge titled “Too Precious To Wear,” Amedeo Scognamiglio, Faraone Mennella The Chinese alleged dredging of Japanese oce- along with labels including Irene Neuwirth and anic territories is just the latest ecological malady Monique Péan — a campaign forged in the lead-up that red coral has been dealt. Overfishing contin- to the 2010 Convention on International Trade in ues to obstruct the species’ regrowth, as does the Endangered Species’ vote to protect red coral from residual effects of climate change. Drastic shifts in harvesting. The CITES induction did not pass — a ocean temperatures and pH balance, conditions failure that ocean activists blamed on commercial that prescribe the species’ overall health, have interests. “Italy really pushed the European Union Mediterranean Pacific further impaired the coral’s future. Coral’s Steep Decline to oppose this listing — they were anxious that 450 While beloved since antiquity, red coral is now OHere, an illustration of total landings high-profit sales to Chinese and others would most prized by the Chinese — who are insatiably for the Pacific and Mediterranean from disappear as a result of international trade 400 consuming the material in the form of beaded 1963 to 2007. restrictions, so the listing did not succeed under

jewelry strands. In July, the display cases at New 350 this pressure,” said Mark J. Spalding, president York’s Antique Jewelry Show were awash in these of The Ocean Foundation. beads — with coral taking a large portion of the real 300 Without protection, red coral is still used in estate that diamonds once occupied. Agnes Lee, the collections of brands including Dior Haute owner of New Pagoda Specialty, a coral and jade 250 Price of Actual Jewelry Joaillerie, Gucci ﬁne jewelry and Bulgari. Dior antique jewelry dealer in New York, says that coral and Gucci declined to comment, while a Bulgari has become so popular recently that its jewelry 200 spokesman said, “Bulgari adheres to all interna-

has begun to be sold by weight, rather than by the 150 tional laws and regulations in its sourcing practices, piece. Ninety percent of her coral purchasers are and it does not use any protected coral.” ■ of Chinese origin. 100 (1) MARINA GARCÍA PIZÁ, “RECOVERY OF RED CORAL CORALLIUM RUBRUM Unlike diamonds, which are presently sinking COLONIES AFTER FISHING EVENTS IN THE MARSEILLES AREA,” MASTER’S in value and sales — they’ve shed 14 percent of 50 THESIS, UNIVERSITAT DE BARCELONA, 2011 (2) M. GALASSO, “CORAL FISHING IN SARDINIA: EVOLUTION, PERSISTENCE AND their value in the last year — coral’s price appears TECHNICAL INNOVATION,” 2001 0 (3) THE GENERAL FISHERIES COMMISSION FOR THE MEDITERRANEAN, “A BRIEF to be on a consistent upswing. Coral purveyor REPORT ON RED CORAL” 1971 1991 1981 1977 1972 1974 1975 1997 1979 1976 1973 1987 1978 1970 1992 1982 1994 1995 1984 1985 2001 1999 1996 1969 1993 1998 1989 1986 1968 1983 1988 1990 1980 2007 2002 2004 2005 2006 2003 Amedeo Scognamiglio, of Faraone Mennella, 2000 (4) CITES COP14 PROP. 21, 2007 sold a single-strand, 100-gram coral necklace last Source: Bruckner, Decline in Corallium (5) J. GARRABOU J., T.PÉREZ, S. SARORETTO AND J.D. HARMELIN, “MASS MORTALITY EVENT IN RED CORAL CORALLIUM RUBRUM POPULATIONS IN

year for 150,000 pounds (about $234,000 at ► by photo Chinsee; Top George by photograph Jewelry Haus Prop from prop Arnaud Abadie; Coral $2,200 $4,500 $3,300 PROVENCE REGION,” 2001

14 NOVEMBER 2015, No. 1 WWD.COM Photograph by ERIC HELGAS Jewelry provided by NEW PAGODA SPECIALTY, NEW YORK WWD.COM NOVEMBER 2015, No. 1 15 AccessoriesAgenda EDITED BY DIANNE M. POGODA SWAROVSKI.COM/PROFESSIONAL

t a time when easy access and instant visibility are widely seen as basic industry requirements, Giampiero Bodino has chosen to take the opposite approach to business Aand design. His stunning high-jewelry pieces are one-of-a-kind items that can be purchased by appointment only, mainly at Milan’s Villa Mozart, a discreet venue designed by architect Piero Portaluppi in the Thirties, nestled in a garden and opposite the equally beautiful Villa Bodino Bets Necchi Campiglio. It’s all about word of mouth KAPUTT DESIGNED BY rather than banners, loud ad campaigns, or aggressive marketing. “I am aware I chose the most difficult path, but, On Bespoke also in light of my journey so far, this is the path that interests me the most. It’s the less obvious one,” said Bodino in the spacious, light-filled living The first jewelry label developed room of Villa Mozart, decorated with Chinese and from scratch by Compagnie Japanese vases and Fifties and Sixties furniture. Swarovski AG. © 2015 D. Swarovski Distribution GmbH Swarovski® is a registered trademark of Tall, elegant and clad in a slim, dark Dsquared2 Financière Richemont is a luxury suit, when asked about his tastes in fashion, he points to brands including Ralph Lauren, but collection of one-of-a-kind pieces. said he likes to experiment and “have fun” with his clothes, with a strong sense of individualism, By LUISA ZARGANI mixing military pants with English tweed or com- bat boots, for example. After so many years working in the industry, he said it was “inevitable for me to think in terms of unique pieces. It’s a conflict for me to conceive the same design in multiple pieces. A dream is individual, not shared, but discreet and imaginative.” Bodino values the relationship he builds with his customers, who often make special requests for personalized pieces. “I hope to build a sense of loyalty, evolving with them.” Prices depend on the individual piece, since they are all one-of-a kind-products. The starting price is about 50,000 euros, or about $55,300 at current exchange. He uses a variety of stones Giampiero Bodino. including diamonds, emeralds, sapphires, rubies, Top right: A choker spinels, rubellites, tanzanites, tourmalines, ame- with white, gray, thyst, chrysoprase, opal and chalcedony, as well yellow and cognac as pink and white gold. diamonds, pink Born in Turin, Italy, the designer and artist, sapphires emeralds and white and yellow who trained as an architect and switched to gold from the jewelry design, honed his industrial design skills Primavera Group. under Giorgetto Giugiaro, the famous automotive designer, and then Gianni Bulgari, working ► NEW FOR FALL/WINTER 2016/17 16 NOVEMBER 2015, No. 1 WWD.COM Photographs by PIOTR NIEPSUJ for the Roman jeweler for a decade. Bodino has been group art director for Compagnie Financière Richemont since 2002, overseeing brands ranging from Cartier to Van Cleef & Arpels. The Giam- Agenda piero Bodino label is controlled by Compagnie Financière Richemont and was launched in November 2013 — the first brand to be developed from Square One for the luxury group. “A dream is individual, Accessories not shared, but discreet and imaginative.”

Giampiero Bodino

Primavera’s cuff with three red spinels, blue and yellow sapphires, mandarin garnets, diamonds, black spinels and white and pink gold. Right: Villa Mozart.

On the walls at the Villa hang several of Bodino’s paintings — generally portraits — as he prepares for an exhibition in Milan in January, although the designer is quick to underscore that he has always maintained his two creative outlets entirely separate. He recalled how his first drawings were inspired by his childhood fairy tales. “Jewelry has nothing to do with art and vice versa,” he said. While his portraits are in black- and-white, Bodino explores color with his jewelry, often inspired by nature, and is strongly influenced by Italian art and culture, from the exquisite mosaics of Ravenna and the Baroque, to the Renaissance and Art Deco. Three-dimensional, tactile and flexible volumes are key to Bodino’s aesthetics as well as elaborate symmetries of precious stones and diamonds. He works with antique cameos as well as with themes including geometric shapes, compass roses, heraldry symbols and fan- tastic animals, such as the mythological Chimera. He sketches each piece and his drawings are finely detailed works of art themselves. His goal is also to create objects that are “not out of context,” and that remain as “souvenirs of the moment.” ■

Museum of It was conceived and is now The museum is part of this hosting futuristic, innovative We’re shopping for FUTURE LEADERS managed by Italian trade show internationalization and expansion interpretations of jewelry; vintage Jewels organizer Fiera di Vicenza, which strategy. According to Cappellieri, costume jewelry expert Deanna OAn idea that sprouted 40 years is developing initiatives to it offers visitors “a journey Farneti Cera, who selected a range ago has finally bloomed in Vicenza, affirm Italy’s role in through different of pieces from various fashion a hub of fine jewelry-making in the international cultures, ages and designers, including Karl Lagerfeld, northeastern Italy. jewelry business. styles.” It stages Franco Moschino, Hubert de The Museo del Gioiello is the Fiera di temporary Givenchy and Gianfranco Ferré, to American Express is proud to join the National Retail Federation Foundation in the first European museum dedicated Vicenza in biannual represent the link between fashion exclusively to jewelry, said May signed exhibitions, and jewelry. search for the next generation of retail leaders. By sponsoring the Executive Mentor Alba Cappellieri, the museum’s an agreement organized in Dutch jewelry and industrial- director. The 4,306-square-foot with Dubai nine themes designer Gijs Bakker curated Experience at Retail’s BIG Show Student Program, we’re helping tomorrow’s museum was designed by Spanish World Trade highlighting the Design section, showcasing architect Patricia Urquiola and Center for a different aspects jeweled accessories that focus on leaders gain invaluable insights for a smoother transition into the workforce. opened in January. It’s located joint venture of jewels, including ideas rather than materials. in Vicenza’s impressive Basilica company, called Symbols, Magic, In each area, visitors can learn Palladiana, which was designed DV Global Link, Function, Beauty, more on the pieces watching a which organized Art, Fashion, Design, video available in English. by Renaissance architect Andrea Here: Looks from the first edition of Icons and the Future. Besides the biannual Palladio and is listed among the permanent Vicenza Oro Dubai For the first exhibition, exhibitions, a special show, UNESCO’s World Heritage Sites. collection. Left: The last April. Last year, which included about “Jewelry for Peace” is on until Jan. The building’s long restoration Basilica Palladiana. kicked off in 2007 and required the group also 400 pieces from as 7. This includes the 20 creations of an investment valued at 21 million made a deal with early as the 8th century the finalists of Vicenza Oro’s Next euros, or about $23.6 million, from the Panama Diamond Exchange B.C., Cappellieri enrolled various Generation Jewelry Talent Contest the municipal government. to promote events focused on personalities, such as Dutch 2015, an international competition The museum has welcomed diamonds and jewelry in South designer Aldo Bakker, who for designers under age 30. 30,000 visitors so far this year. America. took care of the Future section, — ALESSANDRA TURRA

00 MONTH 2015, No.X WWD.COM 20

NOVEMBER 2015, No. 1 BeautyAgenda

WWD.COM ¬ Harry Winston a process thecompany says took more thanthree years to from pigmentsharvested from thewings of real butterflies, butterfly wingdialthatlooks uncannilyreal. Itis, infact, made from Winston’s Harry “Premier Feathers” collection features a Butterflies are free...the watch, not somuch. Thiscreation TheIllusionist watches alike —just asinnature. gold andsatin-strap watches start at$41,500 withnotwo limited edition, the2.47-carat diamond bezel and 18-karat white to reflect thepattern of thereal butterfly wing. Available ina perfect. Onceextracted, thepigmentispainted onthe dial Photograph by — ROXANNE ROBINSON ERIC HELGAS American Express 1 and hasanoverall marginoferror invitation andanonline survey. The 2014surveywasconducted anonymouslybyindependentmarketing performancespecialistEbiq Survey wasconducted amonganationallyrepresentative sampleof2,682malesandfemales 18yearsofageorolder. That sample The statisticcited was basedontheSmallBusinessSaturday ConsumerInsightsSurvey conductedin2014. The 2014SmallBusines Last year, 88millionpeopleshowed upto ShopSmall®onSmallBusiness Saturday. as aday dedicated to helpingbusinesses like yours. From aninspiringidea to aholiday shoppingtradition, we created ShopSmall.com/JoinUs economy, andtheplace you call home. small businesses. Because spendinginyour neighborhoodisgood for you, thelocal This year, American Express isonce again proud to continue ourcommitment to local í 1. , atthe levelofcon ¿ dence. NOV 28 SUPPORTS Small Business Saturday s SaturdayConsumer Insights was collectedusing anemail uity onNovember 30,2014, 1

EDITED BY EVAN CLARK Thereafter, it becomes more personalized. generally looking for value, substance and looking Do collectors buy multiple watches at a for technical capability. Maybe less focus on dia- Retail time? monds and gems and more on complications and Agenda That depends on the kind of buyers. Usually it’s accuracy. For example, there’s the Omega Master difficult to get access to more than one product at a Co-Axial, which resonates because of its accuracy time. The top collectors who really know watches and durability, and a new Rolex movement called are [told when] watches they’d like to buy become the Fleet 255. These are important to develop available…when we get access or availability to the consumers’ interest. watch. Similarly, we have customers who are lux- What about antique watches? ury watch consumers, but not at the very top end: We sell a variety of antique watches. For exam- Someone who would frequently spend 15,000 to ple, recently we had a Paul Newman [Rolex] Day- 25,000 pounds [$23,100 to $38,500 at current tona watch — it’s highly sought-after. We also have exchange], maybe more. We tend to find they the Pilot watch. We do get a lot of very unusual and have their eye on their next purchase. They make interesting watches. ■ a purchase and enjoy it for a period, and then something else will catch their eye. So the idea of buying multiple watches at once is very unusual, because people tend to get focused on a particular type of watch. There was a time at the height of the Chinese boom that multiple purchases were more common, but honestly, by far, the number of watches per transaction is one. What about smartwatches? The Tag Heuer model is going to be available soon, as well as Montblanc’s version, which they presented in Basel [in Switzerland]. I don’t know Inside Watches of what luxury watches are doing next Switzerland. Right: A in smartwatches. It’s potentially Patek Philippe. interesting in the market, but I certainly don’t see electronic or plastic competing with the handle that kind of customer. Again, wonderful precious examples of we’ve been doing that for a long time. great technical mechanical watches. Hong Kong’s Low-Key Dealer What are your most expensive I think, along with the rest of the OFrom a commercial about 50 timepieces in watches? industry, I’ll have to wait and see. It’s perspective, Hong the store. The most expensive brand we carry certainly not the same customer. Lux- Kong is indeed a watch The collections range is one of the most luxurious brands in the ury watches are expensive and, of course, mecca with every major from 200,000 Hong world: Patek Philippe. We have a range of there’s a natural bias toward an older con- brand represented by Kong dollars (about watches, but they really are the experts in sumer with greater wealth. Smartwatches elaborate flagships $26,000), but can go up terms of high-end complications and rare are geared toward a younger consumer. At flogging the latest — and to 1 million Hong Kong and exclusive product. The most highly valued this stage, there’s a lot of talk about smartwatches, often the brashest — dollars ($129,000). styles. But multibranded Popular requests products from Patek Philippe would be the Minute a great campaign by Apple. But in terms of impact- watch retailers with from clients include Repeaters. The whole wonder of the mechanics is ing our business, there’s absolutely none at all. a tightly curated bespoke Titan Blacks how watchmakers manage to get such complicated People are wearing Apple watches are people collection are few and and Ressence Type 3s, mechanics into such a small space…metal bars who traditionally don’t wear watches. Maybe it’s far between. The more the oil-filled minimalist and small hammers that actually chime every few bringing a new generation of wristwatch-wearers discerning collector in watches that “break all minutes. It’s a feat of mechanical engineering. It’s into the market. Hong Kong heads to the the rules in the industry.” very specialized, and very few people in the world What are some key watch trends? Lavish Attic. The Lavish Attic can build minute repeaters to such precision. Rectangle or square watches continue to sell. Nestled on the fifth doesn’t sell vintage floor of the prewar watches, but Chow What’s your typical client like? The most common color for men is black, but Pedder Building in is happy to use her It’s very much an eclectic mix. Clearly, people there are significant increases in blue dials, par- Central, the shop is intimate industry who are successful and wealthy, who have taste, ticularly for men, especially in fashion. Average an exclusive dealer connections to help her and a real interest in watches. There’s a rationale for independent, clients source special for buying watches purely for financial investment. niche brands such pieces. Watches of And in our experience, there are people who do “There’s no secret — we’ve as Manufacture Mostly the Switzerland that. People who buy and collect and invest in Contemporaine du customers come by been doing it for a really Temps, Ressence, Lang word of mouth, or watches have a lot of appreciation for them. Get Your Fix & Heyne and Linde watchmakers point What watches are most in demand? long time.” Werdelin. them the Lavish Attic’s n London, watch enthusiasts who have Europe and the Middle East. The ones that are most difficult to get. Top Brian Duffy, Watches of Switzerland The store was way. Other than that, a favorite brand often head to mono- WWD and Duffy discussed Swiss luxury brands restrict production to such opened in 2005 by it’s the odd person who Two key sources for brand boutiques, where collectors luxury watches, smartwatches high standards of craftsmanship, and by that Piano Chow, who had wanders in after visiting watch collectors in befriend managers to get first crack at and trends. very definition there are not many watchmakers previously embarked on a neighboring art special watches. But those with a wider What’s the secret? that can produce such a degree of complexity. So prices continue to go up, although at a slower careers in design and gallery or men’s wear journalism. She “looks boutique. range of preferences head to Watches There’s no secret — we’ve there’s a natural restriction on availability — and pace than it was three or four years ago. The London and Hong Kong. for the soul” of every For now, of Switzerland. Launched in 1924, the been doing it for a really long immediately demand exceeds supply. Some, like proportion of watch sales for men to women is By LORELEI MARFIL piece she selects for smartwatches are Iretailer carries a bevy of luxury watch time. This was one of the first Rolex, professional models like the Daytona or the 70 to 30 percent, and it has been like that for the her store. fun, but have not yet brands including Patek Philippe, Rolex, Brian Duffy, retailers and importers of lux- GMT of a Submariner — there will always be more past few years. The shop itself is not earned a serious place Omega, Tag Heuer, Breitling and IWC. Its 15 stores Watches of ury Swiss watches. Our group demand for these products than supply. What types of watches do customers seek? much to write home in a collector’s mind, and showrooms in the U.K. generate approxi- Switzerland was first in the U.K. for Rolex. What’s your VIP treatment? There’s a definite trend toward people having about. It’s a modest she maintains. Most mately 500 million pounds or about $761 million, We’ve got tremendous heritage We have two stores in London — one on Regent more than one watch. I think once you have two, space with a few display of Chow’s clients have at current exchange annually, with Rolex among and credibility. We just manage major brands and Street and the other on Oxford Street. Both have there’s a real path to accumulate watches for cases and a sitting bought an Apple Watch, area toward the back, but the devices are specialized VIP rooms, where top customers can different occasions. I think two very interesting its bestsellers. Aurum Group chief executive offi- products very well, and we invest in training. but that’s because the relegated to workout cer Brian Duffy joined the company, which owns How do you acquire top watches? relax. We talk about opportunities, about products trends are that people look at watches as beauti- watches are the real sessions — or they wear Watches of Switzerland, Goldsmiths, Mappin & It’s a track record of success, it’s our price, it is we might be able to get, in a very discrete and ful accessories and therefore look into dial size, attraction. it on one arm while their Webb and WatchShop, in 2014. Prior to joining the our VIP customer list, it’s the expertise of our top private way. We also can meet customers at home material and shape from a fashion standpoint. At any given point in “real” watch sits on the Apollo-owned company, the Glasgow-born exec- salespeople. We have great sales management and or hotel. We initially like to establish a relationship There’s a converging of genders, a lot of women time, Chow keeps only other. — TIFFANY AP

utive was group president of Polo Ralph Lauren staﬀers, and a VIP sales team who know how to Salgado Antonio by Duffy photograph using our stores so we can present our products. buy watches intended for men. We see people

22 NOVEMBER 2015, No. 1 WWD.COM WWD.COM NOVEMBER 2015, No. 1 23 MarketsAgenda EDITED BY ARTHUR ZACZKIEWICZ

t’s everyone versus Apple in the battle for category and teaming up where necessary. the smartwatch. “We’re going big,” said Jill Elliott-Sones, chief While tech giants Intel and Google and creative officer of Fossil Group Inc., “We see this start-up darlings Pebble and Mistfit were as being a really disruptive force in the whole first to the field, it’s the Apple Watch that accessories category.” continues to dominate the conversation Elliott-Sones said the brand’s connected devices in the fast-growing sector. would soon be a meaningful portion of its business, I Smartwatches are Dick Tracy realized with every product having some type of connected — miniature computers that strap to the functionality in five to 10 years. wrist and can do everything from count steps, Fossil’s current offering, born out of a partner- get directions, display photos, receive texts, send ship with Google and Intel, ranges from $125 fitness reminders and, oh yeah, tell time. They have their trackers to up to $195 for connected watches, with limitations, from battery life to functionality. The , L2 Inc. styles that look like traditional timepieces but have Apple Watch, for instance, needs to be paired with a module inside the face that connects to a phone. an iPhone to use many of its high-tech features Next month, Fossil will introduce the $275 Founder, and so it doesn’t save the user from carrying two a true smartwatch with a full display Androidwear

devices. But there’s more over the horizon for the becomes mainstreamMaureen Mullen is screen. category, from video chats and phone-free Internet “Whether or not the smartwatch There’s plenty of room for improvement in the connections to health tracking and whatever the category. wizard app developers can cook up. dependent almost entirely on John Bowden, a partner at Coalition Ventures, Apple’s next product release.” Late last month, Apple chief executive officer said connected watches still need to get “smarter” Tim Cook told investors that sales were ahead of before they create much additional value for the internal expectations and that the sport model had wearer. Until there is something actionable wearers been expanded with gold and rose gold options. Solution can do with these data, the information is “going Cook has his foot on the accelerator, pushing the to waste” and “getting misinterpreted,” he said. sleek hybrid out to 5,000 locations in 32 countries. “I always associate the primary functionality Its new operating system better utilizes the watch’s of a smart wristband/watch to be that of a fitness microphone, speaker and heart-rate sensor. tracker,” Bowden said. “If that isn’t the case and “Apple Watch has already had a tremendous Apple is the smartwatch these companies want to provide more value, then player to beat. effect on customers’ health and fitness, and the what can that device accomplish that isn’t already stories we’re hearing about its impact are truly possible in other devices? The iPhone created inspirational,” Cook crowed. “I personally heard digital mobility.” from people who credit Apple Watch with saving their lives, and customers are finding new appli- or smartwatches to succeed, they are cations all the time in their day-to-day activities.” going to have to be both useful and attrac- Traditional brands, while not yet claiming to be tive for the price. saving lives, are starting to rise to this challenge and F “We’re focusing on broad market,” come to market with their own intelligent offer- said Jacob Surber, senior product man- ings. Swatch’s first smartwatch was introduced in ager at Pebble Tech, which will unveil its first round September, while Fossil joined the fray last month timepiece on Nov. 8. The $249 Pebble Time Round with a smart bracelet and Tag Heuer will release is the brand’s most fashion-forward product and its much-anticipated version Nov. 9, priced at the big on tech. its lightest. Fossil’s betting high end of the market, around $1,800. Breitling “Just because you don’t want to spend $500 on will introduce its own version on Dec. 16. a watch doesn’t mean that it has to look terrible,” But the tried-and-true watch names could be Surber said. “This looks great but is functional.” in for a tough slog as they square off against the Misfit, another early player in the space, is still con- extremely well-funded and digitally savvy Apple. fident about its positioning. The company’s devices (Hermès is something of an outlier and has teamed don’t have screens and start at about $20 and go up with Apple, creating a $1,100 to $1,500 version of to $169 for a Swarovski collaboration, and come with the Apple Watch.) a battery that lasts from four to six months. “In the long term, my bet is on Apple crushing “It’s not a smartwatch, it’s an intelligent wear- the market in smartwatches,” said Maureen Mullen, able,” said Matthew Loyd, Misfit’s chief marketing cofounder and head of research at L2 Inc. “Apple officer. “It does work as a watch, too. I think from singlehandedly determines how big the smartwatch a fashion standpoint, having a device that’s super- market is and everything else is a rounding error. versatile is hard to do with a screen. People check Whether or not the smartwatch becomes main- their phones, on average, 150 times per day. Not stream is dependent almost entirely on Apple’s next everyone wants to have a screen on their wrist.” product release and if they can tackle some of the But people might also want a little high-tech bling. challenges of the watch.” Erica Orange, executive vice president and chief Those challenges include: the Apple Watch’s operating officer of The Future Hunters, said a “lux- reliance on the iPhone to log on, a lack of utility and ury differentiator” might change the dynamic in the its need for daily charging. If Apple can overcome Fashion is squaring sector, with a high-end brand, and not utility or tech- two of those three hurdles, she said the market will off with Apple for the nology, sending prices up to $1,000 on a smartwatch. “all of a sudden get much bigger.” potentially lucrative “The price tag on the Tag Heuer and the Hermès Already, many of the early adopters — Pebble smartwatches is superhigh — meaning it’s out of smartwatchRACHEL STRUGATZ market. and Misfit included — are starting to get pushed out By reach for the average consumer,” Orange said. of the way, and Mullen argued that the first efforts “It’ll have the same cachet that luxury hand- from fashion players will fall flat unless they pull bags used to have before retail became more together in collaboration with a tech partner. democratized.” Tim Cook and his design chief Jony Ive notwith- And that’s a game that fashion plays well — maybe standing — fashion’s gunning for the smartwatch The Smarter better even than Apple. ■ 24 NOVEMBER 2015, No. 1 WWD.COM Photograph by ERIC HELGAS WWD.COM NOVEMBER 2015, No. 1 25 TrueFacet PARTNER/TYPE OF FUND: Venture capital investors include Maveron, Freestyle, Founder’s Co-Op, Social Leverage and Trilogy.

Agenda Who’s Getting HOW MUCH RAISED:

Markets The Cash? High margins and the lack of ﬁt requirements make watches and jewelry a favorite of investors. While private equity eyes the more established brands, venture capitalists are focused on early-stage ﬁrms. And while friends $2.7 and family remain the top choice for seed funding, the newest playground for angel investing is crowdfunding. By VICKI M. YOUNG million

Dara Artisans Gemvara SPECIALIZES IN: Pre-owned luxury jewelry and watches FAST FACT: Sales have ranged from $150 Tiffany pendants to PARTNER/TYPE OF FUND: Angels investors PARTNER/TYPE OF FUND: Norwest Venture a $90,000 175th anniversary Patek Philippe watch (below). HOW MUCH RAISED: Partners led Series D; other investors include Highland Capital, Canaan Partners and Balderton Capital. $2.3 million HOW MUCH RAISED: in seed round SPECIALIZES IN: Handmade artisan products in multiple categories, including fine jewelry. FAST FACT: Socially conscious e-commerce marketplace preserving skills in heritage craft-making and providing economic opportunity. $25 DuBois et fils PARTNER/TYPE OF FUND: Crowdfunding, with now more than 350 shareholders from Europe, the U.K. and Asia. million HOW MUCH RAISED: More than in Series D $2 million SPECIALIZES IN: Online custom jeweler FAST FACT: Total raised is more than $50 million through prior fund-raising rounds. SPECIALIZES IN: Watches Fast fact: Manufactures in the oldest Swiss watch factory.

Ritani PARTNER/TYPE OF FUND: Investment group led by Cantor Ventures, the VC and enterprise arm of Cantor Fitzgerald HOW MUCH RAISED: No funding amount specified since Cantor Fitzgerald owns the brand. SPECIALIZES IN: Online custom engagement rings and bridal jewelry FAST FACT: Customers may preview product at local jewelry stores before deciding to buy. BASELWORLD.COM Olio Devices Leonard & Church PARTNER/TYPE OF FUND: Venture capital led by New PARTNER/TYPE OF FUND: Kickstarter Enterprises Associates HOW MUCH RAISED: Nearly HOW MUCH RAISED: $10 million $500,000 Th e one unmissable trendsetting show for the entire watch and jewellery raised through crowdfunding industry, where all key players unite to unveil their latest creations and innovations. Series A SPECIALIZES IN: Watches Be a part of this premier event and experience passion, precision and perfection in action. SPECIALIZES IN: Watches FAST FACT: Highest-funded watch campaign in FAST FACT: Senior talent team hails from Movado, Pixar, Kickstarter history; among top 10 funded fashion NASA and Apple. campaigns on Kickstarter. Shutterstock by diamonds photographs Currency, MARCH 17 – 24, 2016 26 NOVEMBER 2015, No. 1 WWD.COM Data Points: Watch Out Shinola’s watch factory.

¬ AAgenda look at the luxury and higher-end watch market — its key brands and manufacturers, global sales, price points and important markets. With 1.2 billion watches sold annually, consumers clearly want time on their hands. By ARTHUR ZACZKIEWICZ Infographic by CARLOS MONTEIRO Markets

Number of Largest Global Watch Average cost watches sold Number of watches annually worldwide Manufacturers produced by China Market Share 1.2 billion annually 663 million 18.3 % Swatch Group $739 Swiss watch

Number of Swiss 30.1 % $189 Watches sold annually Others (including Smartwatch 29.2 million Timex Group) $3 China (including 15.7 % watch fitness Richemont monitors) Watch Sales by Materials Precious Metals 2% Gold-Steel 4% Watch Sales by Type Other Metals 15% Detroit’s

Other Materials 26% Mechanical Watch market share Home Team 77 % Advantage Switzerland watch market 54% share in terms of value With watches as its foundation, Shinola continues to add Steel 53% categories and open new doors. BY LAUREN MCCARTHY 23 % Digital Watch Largest Buyers market share 20.4 % n 2011, Shinola was founded as a of Watches Hong Kong watch manufacturer with the mission By Purchased Value of creating jobs in the downtrodden 6.2 % 10.2 % Detroit area. Now, just four years later, France USA the brand employs 461 people — 357 1.7 % 7.7 % in the Motor City — and has branched China The Detroit store. Audemars Piguet 5.6 % beyond watches and into leather goods, Germany Ibicycles, pet supplies and cold-weather accessories. More categories are on the working with a team of people in Detroit and closed on. Our mission is to create jobs. You have 2.1 % horizon for the brand, which will generate about working in such a long-term-partnership way that a guy, Richard Schwinn, making our frames and Casio (Japan) 11.8 % $100 million in sales this year. WWD caught up is really fostering [good] relationships — these forks in Waterford, Wisc., for our bikes. We work Rolex with Jacques Panis, president, to discuss Detroit, are turning into unbelievable products, [like] the with various leather manufacturers in the United job creation and what’s next. men’s leather capsule that we launched for fall, States. There is some element of job creation and what we have coming for women’s leather there; we would never say it’s because of us, but 3 % Watches remain the core of the business. next spring. we are working with people who are employing Patek Philippe What do you find resonates so much with Is ready-to-wear on the horizon? folks in different parts of the United States. customers? We have done partnerships and collaborations What can we expect from Shinola in 2016? Number of watches People are still gravitating toward the Runwell, with other brands. I can’t really comment on Our dial factory will be up and running, so 3.4 % 3.9 % 5.2 % produced by Hong Kong which was the original design. It has a big, open whether or not it’s in the pipeline, but we’re we’ll be able to use dials that are made in Detroit. Seiko (Japan) Citizen (Japan) Fossil (USA) annually face that’s easy to read with a leather strap. It’s just looking at ways to work with other people and And then, new categories: We hope to have audio 354 million a beautiful, classic, timeless [design]. In 2013, we bring great product to the market, whether it’s equipment available for sale in the fall of next year. produced 53,000 watches. In 2014, we did 179,000 co-branded or branded as Shinola only. The first product will be a console followed by watches. And this year, we’ll come in somewhere When it comes to your campaigns and turntables, speakers and headphones. Jewelry is 4.7 % near 220,000 to 225,000 watches. [The price brand messaging, you have a very strong also bubbling right now and we’re looking at that. LVMH / Bulgari (France) range of the watches is $475 to $1,000.] Detroit focus. Is this something that will We are opening three more stores in America this Beyond watches, your leather business remain as the brand continues to evolve? year — Miami, San Francisco and Palo Alto, [Cal- continues to expand. Talk about that. Would you ever take on other cities in need? ifornia] as well as a bigger store in London. Next Number of We are so fortunate to be working with John Detroit is home. Detroit is always going to be a year we hope to open about 10 stores. smartwatches sold in 2014 Truex and Richard Lambertson. One of the beau- part of the story. We don’t have plans to [enter a Any IPO plans? 6.8 million tiful things about what they are doing is they are new city] but it’s not something that the door is No comment. ■

28 NOVEMBER 2015, No. 1 WWD.COM SOURCE: STATISTICBRAIN.COM, STATISTA WWD.COM NOVEMBER 2015, No. 1 29 are buying them. They won’t be as fast to enter the luxury “Chinese aren’t really keen on buying in Hong watch sector as their luxury-consuming forebears. Kong anymore. Japan has overtaken it [as a shop- Whereas Chinese consumers used to save up and ping destination] and China is certainly not where buy the most expensive watch they could, today’s Agenda they want to buy in the context of a corruption aspirational consumers have more choices and crackdown. So while they have been clobbered in more ways in which they can signify their success. Hong Kong and mainland China, they are seeing “It doesn’t necessarily make sense for them to strong growth in Europe, the Middle East and the save up to buy a watch if it comes at the expense U.S.,” he said. of buying an iPhone, watching Imax movies, Markets traveling or eating out more often. In today’s China, there’s a delay in when you start buying “In today’s China, there’s luxury watches, compared with five years ago, a delay in when you start when luxury was the only thing you could buy to demonstrate status,” Yao said. buying luxury watches, Another factor with the potential to impact luxury watch sales both in China and among Chinese compared with five consumers worldwide is the Apple Watch, which years ago.” has already caused a stir here. According to the Hurun Research Institute’s Franklin Yao, SmithStreetSolutions annual survey of 347 ultrawealthy individuals (those whose net worth exceeded 10 million yuan, or $1.6 million at current exchange), Apple now According to Franklin Yao, the chief executive ranks as China’s most coveted luxury brand, com- officer of Shanghai-based consultancy SmithStreet- ing out ahead of Louis Vuitton, Cartier and the last Solutions, there has been a slowdown at the pointy year’s winner, Hermès. end of the luxury pyramid, but plenty of growth “Initial estimates going into September suggested in the middle- and upper-middle-class segment, that around 22 percent of Apple Watch sales were which is made up of more price-conscious con- driven by China,” Gilbert said. “Unfortunately, esti- sumers who are still interested in buying luxury mates do not break out how the Apple Watch Edi- watches to signal their status. tion is performing in the market yet — arguably the “These consumers aren’t going to be spending market for which the $10,000 model was designed. $50,000 on a watch, but they may spend $5,000,” The stat that should keep Geneva up at night is that he said. “A lot of things in China boil down to trust. 79 percent of luxury watch consumers in China Having a nice watch is a signifier of wealth and a sig- indicate an interest in buying a smartwatch.” ■ nifier of trust. For that $5,000 watch market, these middle-class consumers are going to be faster to buy into that category than [middle-class] consumers in other markets because of what it signifies.” China’s Evolving Consumers Purchasing patterns are shifting. China are down from 1.1 billion Swiss francs (for By CASEY HALL the mainland) and 2.9 billion francs (for Hong Kong) in the first nine months of 2014, to 899 million francs and 2.2 billion francs, respectively hinese consumers are buy- (Switzerland’s currency is at near-parity with ing fewer watches in China the U.S. dollar) over the same period this year, and Hong Kong, but that according to figures from the Federation of the doesn’t mean they are any Swiss Watch Industry. less interested in luxury In comparison, back in 2012 (the year President timepieces. Xi came to power), after years of double-digit Internally, the luxury growth, Hong Kong imported Swiss watches val- Cwatch sector has been hit ued at a total of 4.4 billion francs ($4.7 billion at particularly hard by the average exchange). Chinese government’s ongoing crackdown on Despite this data, there are still positives for corruption and conspicuous consumption. luxury watch brands looking to capture Chinese Category: Precious Profits President Xi Jinping’s crusade, which shows no consumers, especially when they are traveling. 2015 Average Monthly Prices Per Ounce sign of abating, certainly has had an impact. Gov- “Chinese luxury consumers have not stopped ORecent dips in precious metals — especially Gold Platinum Silver ernment officials photographed wearing luxury buying watches. The yuan’s strength against a gold — were due to profit-taking among 1600 $1 251 $1 243 24 watches immediately come under suspicion and weak euro has definitely created an incentive to $1 157 $17.10 $965 $15.60 the formerly entrenched culture of “gift giving” shop for higher-end items abroad. In the long longer-term investors. Also weighing down 1200 18 has become a much lower-key affair. term, a 2014 trade agreement with Switzerland prices is U.S. monetary policy. In September, But the corruption crackdown is only one fac- will help standardize price discrepancies across 800 12 tor of many impacting sales of luxury watches in regions, but it has a 10-year implementation time- the Federal Reserve did not raise rates and 400 6 China and Hong Kong, with a slowing economy, line,” said Colin Gilbert, vice president of research gold and silver dipped as a result. But pricing currency fluctuations, the consolidation of a at Digital IQ Products. trends could change if inflation ticks up, and 0 0 maturing luxury market, changing travel pref- Philip Guarino, a Paris-based director of China January October January October January October erences and new competition all playing a role. Luxury Advisors, agrees that it’s not a matter of the Fed pulls the trigger on a rate hike. Swiss watch imports to Hong Kong and mainland consumers not buying watches, but where they

30 NOVEMBER 2015, No. 1 WWD.COM Illustration by JONATHAN CALUGI Illustration by CARLOS MONTEIRO WWD.COM NOVEMBER 2015, No. 1 31 EDITED BY JEAN E. PALMIERI and ALEX BADIA ames Bond’s preference in timepieces is just as legend- ary as the way he takes his Agenda martinis — and the super- THE SPY spy’s watch of choice has WHO LOVED been Omega since 1995, WATCHES when Lindy Hemming, then-costume designer for the film franchise, pitched the watch house about col- laborating on a piece. “She was given the job to — I wouldn’t say Keeping Jrevamp, but the Bond image had become a bit diluted in the late Eighties. Or so she told me,” said Stephen Urquhart, president of Omega. “She felt he needed a bit of a facelift, and in terms of the “Dr. No,” 1962 watch, he had a lot of watches, so there was not In the first film in the 007 really a standard message there.” Time With franchise, “Dr. No,” The pair quickly settled on two criteria for the Bond, played by Sean timepiece. Connery, skips off to “Being in the Royal Navy, chances were he Jamaica wearing a Rolex would have worn a Seamaster, given our very Submariner with a strong relationship with the British Navy and black face. armed forces,” Urquhart said. “So she was very adamant about that. Secondly, she felt that for Bond, given that he was an educated English gen- tleman, the color blue was important. So that’s how we started, and we haven’t looked backed 007 since.” Gadgets Urquhart noted that while the style of the watch notwithstanding, the remained relatively the same for the first four films Omega collaborated on, with just small, barely British agent has had visible tweaks, when Daniel Craig took over the role for 2006’s “Casino Royale,” the actor wanted a fondness for Omega a hand in determining the look of the piece. “He wanted to give his own touch to the Bond image,” watches for two Urquhart said. “At that point, the Seamaster was decades. known as the Bond watch — people would walk in the store and say, ‘I want the Bond watch.’ Daniel “The Spy Who Loved “The World Is Not By LAUREN MCCARTHY Craig chose the Planet Ocean watch, which is quite Me,” 1977 Enough,” 1999 similar, and he wore that for three films.” Roger Moore’s Bond Pierce Brosnan took over In “Spectre,” which premiered in London on goes digital in “The Spy the role in 1995 with Who Loved Me” with a Oct. 26, Craig begins the film wearing a Seamaster “Goldeneye,” wearing a Seiko quartz watch, style previously worn in “Skyfall,” before being quartz Omega which receives a given a new watch by Q, played by Ben Whishaw. Seamaster Professional, ticker-tape message to but switched to the The Omega Seamaster 300 “Spectre” style fea- report to headquarters tesy Everett Collection; All others courtesy of Everett Collection Everett of courtesy All others Collection; Everett tesy automatic Seamaster tures a bidirectional, rotating diving bezel made — a precursor to text Professional with a blue from black ceramic, with a LiquidMetal 12-hour messages. face for three scale, so that time can be kept with any country subsequent films, in the world, on a five-stripe black and gray NATO including “The World Is strap, where the 007 gun logo has been engraved Not Enough.” on its holder. The timepiece is limited to just 7,007 pieces, and hit retail in September with a price point of $7,500. Each watch has its own unique serial number engraved on the back along with the “Spectre” logo. The Bond watches are surely coveted by collectors, Urquhart said. “This watch will be on collectible sites, for sure. But when I think about collectors, I think of resale value, and I think this is a very emotional watch. I’m not sure many people are going to buy it just to resell it. I don’t think so. It’s more of an emotional purchase. “Bond is a very special story,” added Urquhart. “We have nothing else like this. The only similar thing was a limited-edition watch we did for Apollo 13. But even then, we’re talking about a different category of consumers — much more limited and niche. With Bond, there are thousands of “Skyfall,” 2012 people who are waiting and ordering the watch “Spectre,” 2015 Daniel Craig wore in advance….We definitely have people who are Omega’s Seamaster an Omega Seamaster crazy about Bond and want the Bond watch every “Spectre” model with a Planet Ocean in titanium four years, but I think we’re reaching out to a NATO strap is the latest with a black face, collectible, retailing for though it’s available new customer, also. This film is getting such great $7,500 and engraved in a steel version with press, that I think there will be a lot of people who with a unique serial black dial and steel come back to the world of Bond and become new number and “Spectre” bracelet.

“Spectre” photograph by Jonathan Olley/Metro-Goldwyn-Mayer Studio/Danjaq/Columbia Pictures; “Skyfall” by Columbia Pictures/Cour by “Skyfall” Studio/Danjaq/Columbia Pictures; Jonathan Olley/Metro-Goldwyn-Mayer by photograph “Spectre” customers of Omega.” ■ logo on the back. — DIANNE M. POGODA

32 NOVEMBER 2015, No. 1 WWD.COM Illustration by KEMI MAI WWD.COM NOVEMBER 2015, No. 1 33 34

NOVEMBER 2015, No. 1 Agenda Breitling Future T about 50,000 ayear, puttingitalmostonapar hasnow reachedIn-house movement capacity and otherkey ratherthanoutsourcing. parts, agodecade todevelop in-housewatchmovements Switzerland almosta afterthelandmark decision atthegroup’sment innewcapacity sitesin two 2015.” oﬃcer ofthegroup, tobe“quite positive about ny’s vicepresidentchiefexecutive anddefacto each year, leadingJean-Paul Girardin, thecompa- the complex, multidial traditionally watches made 130,000 units—well above the100,000 orsoof are surprisinglygood. The upturnstemsfrom progressive invest- year exceed shouldSales this comfortably By By introducing asmartwatch. andis has increased capacity China, theSwiss watchmaker Not overly dependent on HAIG SIMONIAN

WWD.COM avid flierJohn Travolta, thevibes aviator timepiecespromoted by the brandfamiliarforitschunky the doldrums.ButatBreitling, makers, as Chinahasslipped into year atmanythis topSwiss watch- he moodmay have turnedsour still independent but much bigger IWC, andRolex, ofRichemont, part ownedOmega, by Swatch Group; include watches and sports cal very active.” very strong,The competitionis and But we must fighthard inthemarket. good andagood products strategy. got enoughonourplates. We have we’vetions. “Butatthemoment, has itselfthoughtaboutacquisi- independents andnotedBreitling edged the dwindling number of saidGirardin.seat,” He acknowl- Weucts. wanttostay inthepilot’s andnewprod- onfactories fortune up by theworld’s leadingluxury goods groups. more independent watchmakers beingsnapped company has avoided trend theindustry ofever the publicity-shy Schneiderfamily, the131-year-old rumorsthehouse mightbeforual sale.Ownedby operations since1999, hescotchesalmostperpet- Girardindistribution, stressed. turned toimproving customerawareness and capacity,ing production Breitling’s focushas with thosestillboughtfrom outsiders. Obvious rivals making techni- “If you wanttosellabrand,you don’t invest a A Breitling employee since1992 who hasheaded With somuch timeandmoneyspentonboost- Bretiling B55Connected, Exospace B55isbased. the concept piece, on which theBreitling Jean-Paul Girardin ing aboutfourmonths’ba directly from viaBluetooth,enjoy- asmartphone theExospacefunctions, beprogrammed can offering variouschronograph andmultitime-zone andlegibility. for aBreitling function Whiletypical app of forease usingaspecial with asmartphone, 3,000 to4,000 unitsayear. areInitial salesforecasts relatively modestat one ofthebrand’s similar, models. non-connected land —about1,000 ($1,015) francs more thanfor 8,000 Swiss ($7,600 francs to$8,100) inSwitzer- Exospace model. the launch inNewYork onDec.16of thenew willemergereal foray with intosmartwatches ably Breitling’s first“connected” watch.Butits a distress message. radiofrequencyinternational emergency to send owner’s viasatellitelinksandusethe location an log aviation linecan specialized tradition,this watchrange.Emergency Buildingonthebrand’s ofBreitling’s Commission eral Communications said. brought alotofattention,” he “That Stateside. Europe. year, Butthis itspenttheentire season Based inFrance,theteamnormally sticksto team —theworld’s only civilian squad flying jets. airshowsat American ofBreitling’s aerobatics with someone-offs. economy andmore confidentconsumers,along “especially strong” year, this thankstoastronger Breitling’s biggest singlemarket, saleshave been that Breitling’s constraintshave eased. capacity more by Chinesebuyers intime,especiallynow —albeitonehehopesmightbeappreciatedtaste aretheir levers more andtoggles, ofanacquired preferred classic,slim watches.” tion capacity. AndChinesebuyers traditionally in Chinabecause we never hadenoughproduc- Girardin said.“We were never particularly strong China. It’s noteven market atop-10 for us,” ously, we’re happy we’re notsodependenton almost 8percent, compared with2014. “Obvi- Kong dive. Exports inSeptember alonedropped over-year —mainly duetotheChinaandHong from January toSeptemberfell2percent year- corruption andgift-giving. Chinese economy andBeijing’s crackdown on the plunge insalesresulting from theslowing mean ithassuffered lessthanmany othersfrom underexposure toHong Kong andMainlandChina turned intoanadvantage. Thebrand’s relative than Breitling. Allhave deeppockets. The new product is designedtowork is The newproduct closely The Exospace willretail forabout7,500 to The Emergency, launched in2013, wasargu- inJune by theFed-Second wasthecertification Foremost hasbeenthebuzzfrom thepresence The U.S., Long by hasbeencruising. contrast, Breitling’s chunky, timepieces,with technical Exports ofSwiss watchesintheninemonths But atleastoneformerBreitling weakness has icated pilotlikeicated Travolta happy. ■ perhaps enough to keep even aded- pressure andacceleration sensors — like navigation gyroscopes, GPS and with future features modelsoffering Breitlings,increasingly connected could bethefirstofafamily of Apple watch. fromnificantly themultifunctional improving legibility. That differs sig- and to easingtheuseoffunctions largely is limited the connectivity how itreally “smart” considering is, USB cable. use andeasily rechargeable viaa But Girardin hintedtheExospace haveSome critics questioned just ttery lifeundernormal ttery

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“Pillow Talk” still courtesy of the Everett Collection in “Pillow Talk.”in “Pillow Rock Hudson, heroine, with unsung feminist Doris Day’s want to bethoughtful, you want to or edited. “You want to besmart, you passion andjoy were never guarded readily available and...expressions of aberration,” inthat “emotions were lationship, onehenow views as “an had whatsoundslike theperfect re- sion to hischildhood. Hisparents Rubenstein attributes thatpersua- — celebrities, movies, events. objects of ourpopculture affections but mostly between usandvarious partners (whether real orfictitious) sometimes between romantic stylistic manifestations of love, the author’s anthologyof various Romance,” from HarperCollins, is Moments inFashionThatInspired new book, Looks“The of Love: 50 Make that50. Outthisweek, his Rubenstein hasavisionortwo. What does love looklike? By between fashion andromance. tome explores therelationship Hal Rubenstein’s latest love Isn’t ItRomantic? BRIDGET FOLEY A self-classified romantic, Hal young, bridal-cladMadonna writhing moments(the indelible celebrity ber-it-fondly moments(Woodstock); culturally excited.” it from all sides, andthatyou’re attention, “to feel that you’re getting ed by amultitudeof for imagesvying standing inTimes Square surround- perfect-bound parallel to someone order. Hewanted to provide a is arranged innoreadily apparent es,” alsoby Harper, “50 Moments” his earlier “100 Unforgettable Dress- gotten underRubenstein’s skin. Like pregnancy,TV agreat dealhas “Single Ladies” to Lucille Ball’s reality Love andKurt Cobainto Beyoncé’s by insidiousways.” From Courtney “get underourskin, you get affected moments andicons, peoplewho we view popculture, itsmemorable so muchmore power.” ues. “But thereality isyour has heart be guidedby your head,” hecontin- There are been-there/remem- A power thatextends to theway

at first pannedby criticsbutquickly the trajectory of “Bonnie andClyde,” the broader culture. Hewrites about analysis oneachentrée’s impact on nostalgic musingsinto thoughtful he elevates whatcouldbecharming cial observer. Here andthroughout, and Clyde’].” physically shaken was Iby [‘Bonnie event, “so emotionally shattered and away withnoopinionof themain screenings. Hewrites thathecame of double-feature, “sneak-peek” see “Two for theRoad” inthedays recalls going withcollegefriendsto “Bonnie andClyde.” Rubenstein & Grace”). Onebig-screen love: Sonny“The andCherShow,” “Will (“Sex andTV Story”) andtheCity,” de Jour,” “American Gigolo,” “Love a fashion professional. shows evaluated through thelensof Jagger’s wedding) andgreat fashion Awards;at theMTV MickandBianca Yet Rubenstein isanastute so- fromAnd plenty movies (“Belle WWD.COM

NOVEMBER 2015, No. 1 ►

43 reconsidered as brilliant. “You want to be like ‘Bonnie and Clyde’ because they’re rebellious just like you were in the late Sixties,” he recalls. “They had that lawlessness that people in the Report Card Sixties wanted to have.” As for the style, costume designer Theadora Van Runkle envisioned the characters as sartorial careerists; he, in dapper Kate’s Cut-and-Paste Job suits, she, in jackets, cardigans and From Ethan’s hot dad-bod, to Allison hiding her girl-bod, this week provided plenty to critique. midiskirts with a waft of androgyny, both wearing hats for added polish. Yet Rubenstein maintains that film’s DWith a show- DAt 45 years old, DThis look is like DPulling off a huge fashion influence depended stealing dress, the ultracropped a weird collage baseball hat at a upon a bit of cheating — contempo- simple hair is the haircut feels a little that’s improbably certain age is not rary hair and makeup that made the way to go. The severe. He should cohesive. an easy endeavor, chic outlaws more relatable to the subtle volume but this version with consider growing DThe pinky young Baby Boomer audience that behind the part a slightly bent visor out the sides a bit, undertones of ultimately turned the genre-shat- is just the right does the trick. He’s but he has excellent the makeup tering film into a phenomenon. “And amount without been wearing this face volume. complement at the core of this incredibly violent getting into Bump-It goatee since the DWearing a the earrings and film is a love story,” he says. “It’s two territory. The faint Nineties — it’s time V-neck undershirt the third tier of the young people in love with breaking lip stain and cream to shave it off. doesn’t always dress. the law and in love with each other, blush add just the DThe layered work, especially DWe don’t know and figuring out how to love.” 1 right amount of T-shirt combination when you can see it exactly what’s Rubenstein writes about two warmth to her face. works well here. through the shirt. It’s going on here with very different “Thomas Crown” 2 3 4 DThe dress is The undershirt has better to lose it and the dress, but the affairs. The first, in 1968, starred billowy, fantastical the performance just embrace the turquoise aquatic Steve McQueen and Faye Dunaway, and whimsical. The qualities needed for hairy chest. section at the who insisted on Van Runkle as embroidery and the a marathon and the DThe windowpane shoulders takes costume designer. She dresses the shoulder detail add overshirt provides blazer works well as the otherwise two self-absorbed lead charac- a dainty feminine the casual style. ters to highly stylized perfection. a separate. Sixties vibe to a touch. This shows DWho knew Ethan “Sometimes love really is surface,” DThe worn-in cool, trippy place. Naomie’s ability Hawke had good shoes match the DNeat pointy Rubenstein says. “Here are two to think outside legs? The shorter belt, indicating pumps ground the people who refuse to give in to their the box. shorts enhance that the CNBC look in something feelings. They are the loves of their his muscular moderator cares simple and chic. own lives, absolutely glossy, com- proportions. pletely phony lives, empty, useless about his style. but driven, and they won’t give it up. It’s covered in layers of magnificent clothing, incredible homes, beautiful watches. They end up apart.” Rubenstein finds the second “Affair,” with Pierce Brosnan and Rene Russo in 1999, sexier than the A- A- 1. Chic while downtrodden: Alexander McQueen’s “Dance Marathon.” B- B original, largely because they’ve 2. Tom Cruise jumps for love on “Oprah.” 3. She dreamed she rocked a been aged-up considerably, “two Maidenform cone bra. 4. Nancy and Ronald Reagan: The look of love. middle-aged people who have the Naomie Harris Carl Quintanilla Kate Bosworth Ethan Hawke hots for each other,” he says. “You alstead/Time Life Pictures/Getty Images Pictures/Getty Life alstead/Time finally saw two middle-aged people trumps everything.” through the exact same filter into Eugene n by DThe 28-year-old DDakota’s shag DThe 49-year-old DThere seems “You want to be smart, you want to be ason LaVeris/ in a hot romance — hot-sweaty- Then, there’s the love of pure the exact same spout because one trendy rapper works perfectly with silver fox has the to be a quirky sexy-nude-scene-on-the-staircase thoughtful, you want to be guided by fashion. Rubenstein didn’t choose has to affect the other.” cleans up well. the slight Seventies right amount of gray schoolmarm thing romance. This time love does win fashion shows to include; rather, As for that “love” connection that Pulling back the vibe of the dress to be successful going on here. The because frankly, love is more import- your head. But the reality is your heart “they own their own locker in my made it appropriate fodder for inclu- dreads and adding a and clearly she’s with the ladies, but severe bun feels ant.” He notes that the body-con- frontal lobe.” Dries Van Noten’s 50th sion? This one heralds an emergent pair of retro Nineties been deep- he really doesn’t contradictory to scious understatement of Russo’s has so much more power.” collection was a perfect dinner-cum- self-love in a generation of women sunglasses help conditioning those need it — he’s worth the fantasy makeup wardrobe, by Michael Kors for show event. Alexander McQueen’s awakening to exciting new possibil- boost his style locks. They look $2.6 billion. colors, especially Céline, telegraphs her character’s Dance Marathon radiated deep ities. The American family changed factor. Even the shiny and healthy. DThe cobalt blue that mauve lip. mature sensuality. he buys into La Liz’s romantic ways, If that take seems antithetical belief in the power of style: “I’m still during World War II, with women ex- annoying thin DThe dress is suit does not fit DThis dress She’s not the only non-ingenue 100 percent. (The two got to know to the theme of romance, it’s the going to look magnificent even if periencing newfound independence mustache works totally unexpected — precisely, but it’s a is totally to capture the author’s fancy. A each other when he was editor of moments of skepticism that give the world is beating me up.” And two and changed roles. The Maidenform with his facial in the best possible good color choice schizophrenic: surprising inclusion, 1959’s “Pillow Malcolm Forbes’ Egg magazine, and the book its bite, in this case, an shows by Dior’s John Galliano blew campaign launched in 1949, at first structure and way. She looks the for him and his eyes. A buttoned-up Talk,” stars Rock Hudson and Doris she, Forbes’ paramour.) “She was example of “the inversion of love, the Rubenstein away. In the first, at the with more or less realistic dreams eyebrows. couture version DThe purple tie shirtdress is fine, Day as a single, successful career charming and funny and riveting and falsehood of trying too hard.” Palais Garnier in 1998, the designer (save for the lack of a shirt in public), DThe notch- of a Lite-Brite. brings an interesting but the bouquet woman that Rubenstein considers a magnetic and a sorceress,” he says. Not so the relationship of Nancy “indulged in every fantasy of erotic but became increasingly outlandish lapel two-button This Gucci look is color play to the blooming from ground-breaking feminist portrayal. As for the eight marriages, “Here and Ronald Reagan. Though not oth- beauty he could possibly think of.” through the Fifties. “Of course, she’s eggplant suit has gauzy, covered- look and the width the bust feels “Doris is obviously in her mid-30s, was a woman so in love with being in erwise a fan, Rubenstein acknowl- The next year at Versailles, inspired not going to barge down the Nile, the right amount yet-not and quirky. is proportionate to unnecessary and edges “one indisputable fact: these by “The Matrix,” he went counterin- and she’s not going to be in a chariot considered old-maid status,” he love, she couldn’t not be in love. She of construction Plus, it showcases the lapel. out of nowhere. says. “She’s not only single, she let her heart lead her. Love ruled. For two people unequivocally loved tuitive to his surroundings in what race,” Rubenstein says. “But she without overpower- some stunning DA narrower DA contrast-color dates some man she’s obviously better for worse, for richer for poor- each other and made no bones Rubenstein calls “the best fashion doesn’t like being called a housewife. ing him. embroidery work. shoe just for the never going to marry.” In addition er, for dumber for wiser, love ruled.” about it.” He cites Nancy’s fashion game of ‘gotcha’ ever watched.” It’s demeaning. It’s the idea that a pant silhouette DThe necklace, would slenderize sake of it feels to delivering a socially progressive Conversely, he turns a harsh eye bravado, shunning first-lady propri- Advertising also provides woman is now an integral and equal earrings, rings and very 2005. message, the film offers “an incred- on Tom Cruise’s infamous sofa-hop- ety and, at 60, wearing a glamorous, rich material: oh-the-smell-of-it part of the American household.” him, and a cleaner bracelet make this trouser break ible exercise in style” that highlights ping escapade on “Oprah,” during arm-baring, crystal-embroidered Obsession; Ralph Lauren’s first Rubenstein finds it significant a very well-edited would decrease the how clothes impact perception, in which the actor rambled incoher- James Galanos gown to her hus- lifestyle-driven advertorial; Baz Luhr- that the campaign never features a accessory story. sloppy factor. this case, allowing Day to shed her ently, flailed his arms and started band’s first Inaugural, while likening mann’s Chanel No.5 film starring man ogling the bra-flaunting woman. virginal image via chic clothes that “assaulting Oprah” before pulling his her eyes for her husband to another Nicole Kidman. Yet an outlier stands “As sexually charged as the ads get subtly more sensual as her inter- beloved, the reticent Katie Holmes, Inaugural moment, years later. “It’s out: Maidenform’s “I dreamed…” might be in their way, they’re about est in Hudson’s Brad escalates. into camera range. With that re- no different than when Barack campaign that lasted 20 years. women being beautiful and saying Then there are real relation- grettable performance, Rubenstein Obama looked at Michelle that night The ads in the book are a hoot — a to other women that you can be ships, real marriages: the Duke maintains, Cruise “destroyed his and said, ‘How great-looking is my camped-out Cleopatra on the Nile, a who you want to be,” he says. “Of and Duchess of Windsor; Mick and career...[Now] he’s an action hero, wife?’ It’s the same moment; we silver-gloved “knockout” in the box- course, you have a guy somewhere. The point is, you don’t need him to B A- Bianca; Elizabeth Taylor, eight times not a leading man. You shiver at the just politically may agree with him ing ring; a “wanted” Wild West vixen. C+ D over. While Rubenstein writes with thought of seeing him embracing a and not with her. But you can’t deny “It’s an obvious example that nothing barge down the Nile, to discover new obvious distaste for the first couple woman because he creeped us out the power of that emotion between exists in a vacuum,” Rubenstein worlds, to go into space. That’s the Wiz Khalifa Dakota Johnson Bill Ackman Allison Williams FilmMagic; Hawke by Michael Stewart/Getty Images; Khalifa by Mark Davis/Getty Images; Johnson by Steve Granitz/WireImage; Ackma Granitz/WireImage; Steve Images; Johnson by Mark Davis/Getty by Images; Khalifa Michael Stewart/Getty by FilmMagic; Hawke Clarke/FilmMagic N. Brent Alliance; Williams by Sohn Cancer Research Square Pershing Images for Gologursky/Getty Harris photograph by BabiradPicture/REX Shutterstock; Quintanilla by Michael Loccisano/Getty Images for Showtime; Bosworth by J by Bosworth Showtime; Images for Michael Loccisano/Getty by Quintanilla Shutterstock; BabiradPicture/REX by Harris photograph and skepticism toward the second, [on ‘Oprah’].” those two people. The emotion says. “Culturally, everything siphons key. If that’s not love, what is?” Q H Dirck by Reagans Archives; The Advertising by Maidenform Wenn.com; Cruise by Photo; Maria Valentino/MCV by McQueen photograph

44 NOVEMBER 2015, No. 1 WWD.COM WWD.COM NOVEMBER 2015, No. 1 45 Clive Owen Frieda Pinto BRAND: Jaeger-LeCoultre BRAND: Audemars Piguet Serving as brand ambassador for The Indian beauty signed with the Swiss Jaeger-LeCoultre since 2010, Kerry Washington Maria Sharapova brand this year, joining ambassadors Oscar-nominated British actor Clive BRAND: Movado BRAND:Tag Heuer Serena Williams, Michael Schumacher and Owen has presided over Movado signed actress Kerry Washington Ten years ago, Maria Sharapova turned Sir Nick Faldo. The company doesn’t ribbon-cuttings at the brand’s Natalie Portman 10 years ago, long before she became a down offers from other major watch brands photograph its ambassadors for ad boutiques and narrated short megastar on “Scandal.” Since then, she has to work with Tag Heuer, which features her campaigns, preferring to use them at events BRAND: Richard Mille appeared in six campaigns and even chose as the only female tennis player in its films chronicling the 182-year-old Winning an Oscar for the title role in or support their philanthropic endeavors. the Concerto watch as her “Scandal” portfolio of brand ambassadors. Through company’s history. “Black Swan” helped Natalie Portman Pinto is said to embody the qualities of the character’s signature watch — it’s now the years, she’s designed a couple of become a worldwide partner in 2011 for house’s new Millenary collection, which was known as “the Olivia Pope Watch.” This year, watches and as many straps. The Russian Richard Mille, which has gained fame as introduced this year. The original made its Cristiano Ronaldo the company also signed up-and-coming native also has become great friends with “the secret billionaire’s handshake” debut in 1995. For Formula One racer BRAND: Tag Heuer actress Alexandra Daddario, who wears Patrick Demarchelier, who photographed because of its lofty price tags and limited Schumacher, the house created a lap timer Soccer stud Cristiano Ronaldo scored a Katheryn Winnick the Sapphire watch. her first ad campaign for Tag Heuer. numbers. Inspired by the spider, she mechanical chronograph watch, the second deal with Tag Heuer last year. He has BRAND: Raymond Weil timepiece it has produced with him. appeared in two campaigns. Ever the Raymond Weil signed designed the Tourbillon RM 19-01 Natalie aspiring designer, helming his own line of Canadian actress Portman with black rhodium plating, underwear and handcrafted shoes, the Katheryn Winnick, star of 18-karat white gold, black sapphires Real Madrid star from Portugal also the internationally popular and a slew of diamonds studding the created two watches for the brand. show “Vikings,” as its outline of a spider on the watch’s ambassador this fall. She face. With only 20 available represents the brand’s worldwide, each piece sells women’s offerings, including for $635,000. the Noemia watch, whose signature mother-of-pearl face was customized in a shade of blue that matches her eyes. Dwayne Wade BRAND: Hublot In the four years that he’s been working with Hublot, Miami Heat guard Dwyane

tterstock; Wade by George Chinsee; Pinto by Stéphane Feugère; Clooney Clooney Feugère; Stéphane by Chinsee; Pinto George by Wade tterstock; Wade designed two timepieces and ages; Sharapova by Joe Scarnici/Getty Images for IMG Images for Joe Scarnici/Getty by ages; Sharapova promotes the brand in China. The dapper star also spread some style to 15 foster kids from Florida, who each received a custom-tailored suit and Hublot watch to wear to the prom.

Cindy Crawford BRAND: Omega Rafael Nadal In 1996, a year after commencing her long-standing relationship with BRAND: Richard Millel Omega, Cindy Crawford helped The orange band of the Tourbillon RM design the Mini Constellation 27-02 Rafael Nadal model belies the watch. In 2014, she carried her $775,000 price tag for the timepiece affinity for Omega to the next created by Richard Mille. Modeled after generation. She and her the rugged chassis of a race car and daughter, Kaia Gerber, available in an exclusive set of 50, the starred in a documentary carbon and titanium watch is often worn funded by Omega in tournaments by the tennis player, that examined the who’s been a partner with the mobile eye hospitals brand since 2010. Plus, it’s run by nonprofit water-resistant. organization Orbis.

Bar Refaeli BRAND: Hublot George Clooney Since linking with Hublot last BRAND: Omega year, Israeli model Bar Refaeli George Clooney began working with has appeared in one ad Omega in 2007, but his ties with the campaign, supported two brand started when he was eight. Like launches and designed a watch. most kids who revered astronauts, he noticed that Omega was the first watch to be worn on the moon, when the crew of Apollo 11 landed in 1969. His father also wore an Omega watch. by REX Shutterstock; Winnick by Jonathan Leibson/Getty Images; Washington by Stefanie Keenan; Johnson by Jason Merritt/Getty Im Jason Merritt/Getty Johnson by Keenan; Stefanie by Images; Washington Jonathan Leibson/Getty Winnick by REX Shutterstock; by Refaeli by Jamie McCarthy/Getty Images for Hublot; Owen by Mauricio Miranda; Crawford by John Aquino; Ronaldo by DYDPPA/REX Shu DYDPPA/REX by Ronaldo John Aquino; by Crawford Mauricio Miranda; by Owen Hublot; Images for Jamie McCarthy/Getty by Refaeli

While a gleaming statuette might team is based are factors to consid- Parker and Tissot; Dwyane Wade pated in six campaigns for the brand. pay $5 million over two years. That’s Its closest authorized retailer in the Tag Heuer. “The whole package was be the gold standard for status er when executives size them up for and Hublot, and Greg Norman and In the realm of entertainers, CAA a fraction of what an A-list actor gets region was 190 miles away in Frisco, important,” he said. Celebrity Connection in Hollywood, becoming a watch an ambassadorship, ad campaign Omega. helped George Clooney and Nicole paid for one movie or what a super- Tex. “We got the Rolex dealer to carry The lifespan of an endorsement ambassador is also a sure sign that or even notable status as a “friend “If you align your brand with an ath- Kidman connect with Omega, Kelly star athlete can take home from a it [in Oklahoma City],” Hotchandani can stretch to 20 years, as it did for one has “made it.” And for athletes, of the brand.” The downside is that lete, you get to borrow some of their Clarkson with Citizen, Kate Winslet sneaker endorsement. said. Cindy Crawford and Omega, or end Securing a watch signing a watch deal is like winning a basketball, soccer and football play- brand equity and halo,” Taub said. with Longines and Clive Owen with “This is about prestige,” said Kamal Heading into her 10th year with Tag after one year as it did for Carmelo championship in the endorsement ers can’t wear watches while per- The same is true for actors. Jaeger-LeCoultre. The elite view Hotchandani, cofounder and ceo of Heuer, Sharapova dismissed over- Anthony and IWC Schaffhausen. To game. forming. That’s why several watch Movado signed Kerry Washington 10 watches as luxury plays, similar to Haute Time, a New York-based mag- tures from other watchmakers to his credit, Anthony is a connoisseur, deal is one of the While a beverage company might companies have historically culti- years ago based not just on her sta- beauty contracts, often with a global azine dedicated to luxury watches. work with the LVMH Moët Hennessy collector and entrepreneur when it line up 15 players and a shoe brand vated relationships within golf and tus as a beautiful up-and-comer, but scope requiring a commitment of at “Everybody in the [NBA] league has Louis Vuitton-owned unit. According comes to timepieces. A forward for gather 150, a watch brand typically tennis. Not only does Rafael Nadal “because of the way she conducts least two years. a shoe deal. [Fewer than] 10 have a to Max Eisenbud, her longtime agent the New York Knicks with a reported might link with one or two. serve aces while wearing a $775,000 her life and the other organizations “We do not do one-shot relation- watch deal.” at IMG, it was important to be affiliat- $124 million contract, he invested benchmarks of “It’s more selective criteria and watch by Richard Mille on his wrist, with which she’s affiliated. We want ships,” said Philippe Tardivel, market- Some players have to jump ed with a brand that didn’t sponsor and partnered in the launch of Haute there are generally fewer opportuni- but his limited-edition timepiece also them in our family because of what ing director of Hublot. “Normally in through a lot of hoops before closing any other female player in her sport. Time with Hotchandani. He once ties than many of the other catego- glimmers in photos next to the trophy they represent,” said chief market- the industry it is three years and then a deal. Hotchandani introduced “That helps transcend her out of showed off a $565,000 Greubel star status. ries for athletes,” said Lowell Taub, as he hoists it over his head. ing officer Mary Roach. Now that we renew. It takes time to get to know Oklahoma City Thunder point guard tennis,” he said. Being able to design Forsey GMT Black on his tatted-up head of global sports endorsements Some of the players and brands Washington is a megastar with the one another and develop products.” Russell Westbrook to Zenith, the watches and straps, wear both the wrist to his Instagram followers, at Creative Artists Agency. that Taub and his colleagues at Los hit show “Scandal,” she’s chosen to While CAA declined to divulge how 150-year-old watchmaker from men’s and women’ styles that she inspiring them with the phrase: “Life Aside from physical prowess, an Angeles-based CAA have coached wear the Movado Concerto watch much its clients earn from horology Switzerland. Before the deal became favors and work with photographers teaches us to make good use of athlete’s personal style and the size into coveted deals were Cristiano as part of her character Olivia Pope’s companies, an industry watcher es- official in February 2014, Zenith had such as Patrick Demarchelier also time, while time teaches us the value

BY KHANH T.L. TRAN, WITH CONTRIBUTIONS FROM KARI HAMANAKA AND MARCY MEDINA of the market in which his or her Ronaldo and Tag Heuer; Tony TYRH wardrobe. Washington has partici- timated that a high-end brand could to overcome some basic challenges. intensified Sharapova’s fondness for of life.” ■

46 NOVEMBER 2015, No. 1 WWD.COM WWD.COM NOVEMBER 2015, No. 1 47 ON

OTHER THE

ROXANNE ROBINSON THERE'STO MORESMART. THAN AS TECHNOLOGY ONE ROAD ASSAULTSSCOTTIE CAMERON AND

Citizen’s stainless-steel CLASSIC BANDS THAT FLAUNT THEIR case with leather strap watch, Eva Fehren’s HAND 18-karat blackened white ALEX BADIA PHOTOGRAPHS BY gold and diamond bracelet THE WRIST,IN TIMEPIECES WATCHMAKERS WITH TRADITIONAL OFFER ALTERNATIVES DIALS AND and rings and Cartier’s 18-karat white gold and MODERNITY WITHSTYLED GENDER-NEUTRAL BY CHIC. diamond ring.

MONTH 2015, No.1tk Agenda

WWD.COM Photograph by watch. and alligator-leather strap stainless-steel, red gold ON HER: Tom Ford cotton shirt. Giorgio Armaniwool suit; and alligator-strap watch. plated stainless-steel case Constant’s rose-gold ON HIM: BYLINE_NAME Frédérìque Montblanc’s

Illustration: Artist Name shirt. LondonBurberry cotton Michael Bastian wool suit; leather strap watch. gold caseandalligator- Chopard’s 18-karat rose ON HIM: Glashütte’s 18-karat red gold case, silver dial, sapphire crystal ON HIM: Patek Philippe’s and alligator-leather strap rose gold and alligator- watch. Michael Bastian strap watch. Caruso wool wool suit; Tom Ford suit; Dunhill cotton shirt, cotton shirt. Bulgari cuff links. ON HER: Rolex’s 18-karat ON HER: Tag Heuer’s everose gold, white 18-karat gold, silver and lacquer and leather-strap alligator-strap watch. watch. Dior Fine Jewelry yellow gold with pavé diamond ring and rose gold with diamond ring. Jaeger-LeCoultre’s rose gold and alligator-strap watch. De Beers white- Hermès’ rose gold with gold and pavé diamond alligator strap watch. Luigi ring, and rings with pink Bianchi Mantova wool and gold with white diamonds; cashmere suit; Dunhill Monica Vinader 18-karat cotton shirt. Paul Smith rose gold vermeil on belt; Chopard cuff links. sterling silver with metallic rose cord bracelet. ON HIM: Canali’s wool suit and Dunhill’s cotton shirt. Bulgari cuff links. ON HER: Bulgari’s 18-karat yellow gold and alligator- strap watch. Hardy 18-karat gold and pavé diamond bracelet and ring.

Man styled by ALEX BADIA Woman styled by ROXANNE ROBINSON Models: CHRISTINA @ Carmen Hand Model Management and MIKE @ Parts Model Management Manicure: MISS POP NAILS using Dior Vernis Market Editor: LUIS CAMPUZANO Accessories Assistant: ASHLEY DAVIS Photographer’s Assistant: ROXANNE HARTRIDGE

Omega’s 18-karat yellow gold with leather strap watch. Boss wool suit;Dunhill cotton shirt. Even the tradition-centric fine-jewelry business is embracing innovative high- tech finishes. Jewelers are now experimenting with novel plating and heating techniques to convert traditional precious metals — including gold and titanium — into every color of the rainbow, essentially redefining luxury jewelry.

PHOTOGRAPHS BY CLAIRE BENOIST STYLED BY ROXANNE ROBINSON

Lynn Ban’s rhodium-plated sterling silver rings; AS29’s ceramic-plated 18-karat gold earrings with diamonds, sapphires and amethysts. Nikos Koulis’ rhodium- plated 18-karat gold ring with emerald, white diamonds and black onyx. OPPOSITE: Solange Azagury- Partridge’s ceramic- plated 18-karat white gold bangle with rubies. David Yurman’s titanium purple necklace with pink sapphires and blue titanium, 18-karat white gold and gray diamond bracelet; Repossi’s rhodium-plated 18-karat white gold earrings with diamonds and rhodium- plated 18-karat white gold cuff. 00

MONTH 2015, No.1tk Agenda

WWD.COM Photograph by BYLINE_NAME

Illustration: Artist Name with diamonds. 18-karat white goldring Khoo’s rhodium-plated diamonds; Lauren X gold ringwithblack plated 18-karat white Dauphin’s rhodium- OPPOSITE FROM TOP: earrings. tourmaline ringand diamond andparaiba Chopard’s titanium, Lydia Courteille’s enamel and rhodium-plated 18-karat white gold ring with rubies, rubellites and spinels. OPPOSITE FROM TOP: Arunashi’s titanium cat’s eye and diamond ring; Suzanne Syz’s titanium and diamond earrings.

ACCESSORIES ASSISTANT: Ashley Davis PHOTO ASSISTANTS: Hai Ngo and Joel Chapman 68 NOVEMBER 2015, No. 1

WWD.COM ensembles. to bothday andnight — adding visual interest chunky modernlooks bling, retro-inspiredpearls, pieces —designer-label They opted for anarray of globe took ashine to jewelry. fashion weeks aroundthe October, attendees atspring JEWELRY FASHION WEEK THEY Shanghai inmid- early to September From New York in

Photographs by ARE

KUBA DABROWSKI, DAVE TACON WEARING and LIZDEVINE WWD.COM

NOVEMBER 2015, No. 1

69 Alber’s Bridget Foley’s Diary Runway

in a major way — when’s the last time you heard of the rank-and-file at a fashion brand going Norma Rae when the designer left? But that’s what they did, and with good reason. It’s fair to say that Elbaz Alber and is beloved both within Lanvin and across fashion, one of those rare people about whom one never hears a bad word. Still, there were signs of discord. Rumors perco- Lanvin: lated that Elbaz didn’t get on with Michèle Huiban, the chief executive officer brought in by Wang. FALL 2002 Huiban, in turn, replaced Lanvin’s longtime p.r. director and Elbaz supporter, Hania Destelle. And Fashion’s there were indications that after a long northward trajectory, sales had stalled. But clearly, the biggest conflict was between Elbaz and Wang. Prior to buying Lanvin, Wang, a Taiwanese publishing mogul, Latest Split had no real experience in the fashion industry. My colleague Miles Socha reported that according to sources, Elbaz, who holds an equity stake, wanted her to sell to an owner better equipped to capital- ize on the foundation now in place, but that she’s digging in her heels, seeking a very high price and SPRING 2003 wants a buyer she knows. Last week, while accepting his Superstar award at Fashion Group International’s Night of Stars, Elbaz gave a speech that had everyone talking — at FALL 2003 the time and especially after news of his departure broke. Explaining that he would not keep within the requested two-minute speech limit, he said he’d told the organizers, “‘I need more time.’ And I think everybody in fashion these days needs just a little more time.” “We did not go to a school of communication. We went to a school of fashion. SPRING 2004 This is what we learned in

fashion school. We didn’t FALL 2004 learn business and we didn’t have concepts of communication.” — Alber Elbaz

He hadn’t come to those words in a sudden pique. Elbaz is both an emotional designer and a thoughtful one. A preshow preview with him is more that a quick perusal of seven dresses on

a rack. When we met at his Lanvin studio before SPRING 2005 his last show, many of the same thoughts were percolating. So much so that he’d considered not showing me any clothes at all, thinking maybe he’d

just discuss what was on his mind. Ultimately, he FALL 2005 he Alber Elbaz news came fast and hard. He’s out at Lanvin. decided to do both. “The more I talk with people, I see everybody In the statement he released, he made no bones about why. looking for a change, everybody…” he said. “Is this industry only about numbers and shows? His exit, he wrote, came “on the decision of the company’s That’s a question. And we, the designers, did we majority shareholder,” Shaw-Lan Wang, whom he didn’t change? Our title ﬁrst was designer and then, chief creative director, because we have to be T creative, we have to direct. Now we have a title, mention by name. ¶ And he celebrated the people with it’s image-maker. Image became a huge part of our whom he’s worked. “I wish to express my gratitude and warm thoughts job. Now, when you are a designer and you went to a fashion school, FIT or Parsons or the Royal to all those who have worked with me passionately on the revival of College, you learned about cuts and the body and SPRING 2006 innovation and about newness, and this is what Lanvin over the past 14 years,” he wrote. They, in turn got behind him we were trained to do. We did not go to a school

Photograph by Stéphane Feugère Stéphane by Photograph Spring 2016 of communication. We went to a school of fashion. This is what we learned in fashion school. We ► FALL 2006

70 NOVEMBER 2015, NO. 1 WWD.COM MARKETPLACE

didn’t learn business and we didn’t have concepts of communication.” ADJMI APPAREL Elbaz went on to say that fashion’s entertainment element seems to be encroaching on what GROUP should be its primary creative concern. “Today, I have a feeling that people come to see a show, or they see a show on the Internet, and they’re looking for entertainment,” he said. “Are we turning SAMPLE MAKER into an entertainment business? Is that the fashion SPRING 2007 business? I’m questioning. I’m not criticizing, I’m Major apparel company seeks Sample only reflecting. I feel that today in order to have a voice, it has to be loud. You have to be loud, oth- Maker with experience. Ability to work erwise you cannot exist.” with woven and stretch fabric required. FALL 2007 Must a house and a brand shout merely to Must have working knowledge of exist? Perhaps. Yet reticence was never an issue cover stitch and single needle machines. for Elbaz. Though not flashy in the common or coarse sense, his work incorporates an element Minimum of 5 years experience. of chic flamboyance that a woman can embrace if To apply, “Are we turning into an entertainment please email or fax your resume to: business? Is that the fashion business? [email protected] I feel that today in order to have a voice, (212) 730-9705 it has to be loud. You have to be loud, SPRING 2008 otherwise you cannot exist.” — Alber Elbaz Editorial Calendar FALL 2008 that 20 years ago didn’t exist in the Western busi- ISSUE ISSUE ISSUE ness psyche. In response, creative and business December 16 hopefuls have flooded the space — including many December 2 December 9 ISSUE of remarkable talent. It’s inevitable with so many Holiday Gifts December 11 ICSC Domestic Trade Show Cal Year in Fashion now in the game, market shares for most, up to and Art Basel LA Times distribution WWD Beauty INC Awards Tributes including the most powerful, are likely to suffer. At the same time, the recent trend of major designer CLOSE 11.18 / MATERIALS 11.23 CLOSE 11.25 / MATERIALS 11.30 CLOSE 11.18 / MATERIALS 11.23 CLOSE 12.02 / MATERIALS 12.07 exits (Raf Simons from Dior; Alexander Wang from Balenciaga) will impact how consumers relate to the brands they buy and how incoming designers view their jobs.

Fashion is a discipline of passion. In recent SPRING 2009 history, most designers who have been signed by a major house have put their hearts and souls into their work with the same intensity as if their own names were on the door. Even within that context, FALL 2009 Elbaz’s Lanvin tenure is particularly poignant; /WireImage, David Fisher/REX Shutterstock /WireImage, his refined, highly developed mark on the house stands out. Most fashion-aware people today — those who work in the industry as well as serious shoppers and others who might buy little but consume a lot in terms of fashion entertainment — have little or no concept of Jeanne Lanvin. They may recall a flacon of Arpege on Grandmother’s vanity (and Arpege isn’t Chanel No.5) — but beyond From top: Fall 2012; that, there is no current populist memory of Jeanne Spring 2010; Fall 2010. Lanvin. Yes, a few professional fashion historians ► SPRING 2010 she wants to. That’s one of his great strengths as a designer — he can do many things, but always with a clear and distinct signature, and always grounded FALL 2010 in his devotion to addressing the needs of real women (albeit extremely well-heeled) who have to get dressed. While his shows were exquisitely editorial in presentation, it was impossible to take WWD places the world in an Alber show and not react as a woman first and fashion professional second. of fashion at your fi ngertips. hese are complicated times in fashion. As Elbaz suggested, the confusion and tension are palpable, sprung from a Tsense of encroaching upheaval yet FOLLOW US ON: with no corresponding vision of what SPRING 2011 an emergent template might look like. The esca- lation of global fascination in fashion has been tremendous, fueled by the convergent forces of the

digital explosion and the opening of new markets FALL 2011 2010: Delphine Achard Fall Backstage Spring 2010: Delphine Achard, Giannoni, Backstage 2012: Giovanni Chendelier/Fall Lacroix Jean Baptiste Filho/Wireimage, Barros de Moraes Antonio REX Shutterstock, Stephane, Feugere, Giannoni, Giovanni RUNWAY:

For advertising inquiries, please contact Shannon Fitzgerald | 323-617-9094 | [email protected] WWD.COM NOVEMBER 4, 2015 73 and informed amateur buﬀs can wax informative about draping and languid silhouettes, but most people don’t know and don’t care. At the richest, savviest level, the fashion-buying population knows the Chanel codes, and to a lesser degree, those of Dior. People know a Pucci print because how could you not — it hits you in the face. Balenciaga? Cristòbal Balenciaga’s work is the fashion-knowledge equivalent of Plato’s Republic. You know you should know it in-depth, but unless you did Columbia’s freshman core, you’ve probably skimmed, at best. SPRING 2012

hat the fashion-interested do know of today’s Lanvin is Alber Elbaz — period. His work is FALL 2012 Wour concept of the brand: the draping; his way of turning a mannish tweed into a feminine swirl; the bold use of jewelry and baublelike embroideries; the couturelike finishing; most importantly, the core tenant that chic and ease are not antithetical concepts. Those are Alber’s concepts, Alber’s codes. Yes, he linked back to elements worked by Jeanne Lanvin herself. But who cares? As the consumer sees it, Lanvin and Elbaz are synonymous. This will make finding the right suc- cessor all the more difficult. What’s an incoming SPRING 2013 designer to do? Throw out baby and bathwater, or build on something fabulous created by a gifted contemporary who will likely find a new

FALL 2013 What’s an incoming designer to do? Throw out baby and bathwater, or build on something fabulous created by a gifted contemporary who will likely find a new employment situation SPRING 2014 as soon as he chooses? FALL 2014

From top: Fall 2015 and employment situation as soon as he chooses, Fall 2011. Left: Spring possibly an extremely high-proﬁle one? If the for- 2012. mer, a tall order. If the latter, one runs the risk of unfavorable comparison. True, hiring a scorching, buzzy name wasn’t a problem for Balenciaga. But Alexander Wang’s IN THE HEAT OF ACTION, THERE ARE THOSE WHO TRUST THEIR three-year stint put “palate-cleanser” distance LUCKY STAR – AND THOSE WHO PREFER THE EMERGENCY, between the incoming Demna Gvasalia and Nico- THE WORLD’S FIRST WRISTWATCH WITH BUILT-IN PERSONAL las Ghesquière. More importantly, Balenciaga’s parent group, Kering, is one of the world’s two LOCATOR BEACON.

leading luxury groups, and gives every indication SPRING 2015 of having its act together. Lanvin, approaching the Equipped with a dual frequency micro-transmitter, this high-tech survival employment pool with far less business-side credi- instrument serves to trigger search and rescue operations in all emergency bility, has begun to project disarray. Will Shaw-Lan situations – on land, at sea or in the air. The ﬁ rst ever personal locator Wang ﬁnd a replacement for Elbaz? Of course, and FALL 2015 beacon designed for wrist wear, meaning literally on you at all times, it

probably one with plenty of promise — there are Giannoni Giovanni Spring 2012 by all 2011 and Spotlight legions more designers than there are high-proﬁle shares your feats around the globe while guaranteeing maximum safety. jobs out there. Breitling Emergency: the watch that can save your life. Yet Alber’s is an imposing shadow, not least because he found and charmed for the house a previously nonexistent customer, appealing to her not only with beautiful clothes, but with a genuine emotional connection. Now, he wonders if the industry continues to have her essential interests at heart, a consideration he will take to his next situation, whatever and wherever that might be. “How do we deal with all of it,” he wondered during our

preview. “A question. Just a question.” Q SPRING 2016 F Feugère; Stéphane by 2015 photograph Finale Fall