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Baselworld cancels 2021 show. Full Release.
The MCH Group and representatives of the exhibitors have reached agreement on the settlement for the cancelled Baselworld 2020, and cancels Baselworld 2021.
Results for Richemont Group
632 articles · 14 videos found · page 17 of 22
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![Business News: Baselworld 2021 Cancelled and Exhibitors Get Refunds [Updated]](https://watchesbysjx.com/wp-content/uploads/2019/03/Baselworld-2019-hall-3.jpg)
SJX Watches
Business News: Baselworld 2021 Cancelled and Exhibitors Get Refunds [Updated]
This year’s Baselworld saga has finally arrived at its epilogue and the inevitable outcome has been made official: MCH Group just announced that Baselworld 2021 has been cancelled. Simultaneously, the event’s organisers also announced that an “agreement on the settlement for the cancelled Baselworld 2020” – presumably with more substantial refunds – was reached with exhibiting brands. That settles the brief-but-intense circumstances surrounding Baselworld 2020, which began when this year’s fair was cancelled and then “postponed” to January 2021. Along with the “postponement”, exhibitors for the 2020 fair were only offered partial refunds of the event fees. Both moves, which were regarded as unilateral and unfair by watch brands, led to a stinging response from the exhibitors, led by their committee chairman, a senior executive of Rolex, the world’s largest luxury watch brand. A week later, Baselworld suffered its death blow when the fair’s biggest exhibitors – Rolex, Patek Philippe, Chanel, Chopard, and Tudor – pulled out of the event and decamped to Geneva, where they will join Watches & Wonders in a brand-new event that’ll take place in April 2021. They were followed shortly after by the brands owned by LVMH, which include Hublot and Bulgari. With that, the cancellation of Baselworld 2021 was fait accompli, even though Baselworld responded by insinuating the exhibitors had long been conspiring to exit the event. The cavernous Rolex booth...
Time+Tide
10 watches from Montblanc’s 2020 collection that suggest they are reaching the top of the mountain
When Richemont acquired Minerva to pair with Montblanc to fast-track legitimacy for their watchmaking division, some scoffed at the audacity. Taking a respected, historical watchmaker and giving their patents to a pen brand seemed like horological heresy at the time; however, Montblanc’s commitment to continuing Minerva’s legacy only grows more apparent with each subsequent year … ContinuedThe post 10 watches from Montblanc’s 2020 collection that suggest they are reaching the top of the mountain appeared first on Time+Tide Watches.
SJX Watches
The Audemars Piguet Museum is Complete (and Open)
Announced in 2014 as part of a massive expansion of headquarters in Le Brassus, the Audemars Piguet museum is now complete, although the public will have to wait end-June 2020 to visit. The vintage-inspired Remaster01 Chronograph limited edition was launched last month to commemorate this very occasion. [Update June 25, 2020: The museum is now open to the public, with tickets required for admission.] Designed by Bjarke Ingels Group (BIG), the Danish architects responsible for Google’s new North Bayshore headquarters, the Musée Atelier Audemars Piguet is a low-slung spiral that gently rises out of the fields right behind the building Audemars Piguet has occupied since 1875. Inspired by a balance spring, the museum is almost entirely curved glass. A hundred and eight panels of structural glass support the steel roof that’s covered with a garden, blending into the pastoral landscape of the Vallee de Joux, the homely heart of Swiss watchmaking. The glass exterior is covered by a brass mesh to regulate temperature and light A spiral into the past and future Visitors to the museum will follow the spiral through the building – first clockwise towards the centre and then in the other direction to the conclusion – accompanied by some 300 timepieces dating from the 19th century to the present. At the centre of the spiral sit a selection of the brand’s grand complication watches, including the massive Universelle pocket watch from 1899. And appropriately, at the end of the...
Quill & Pad
Drum Roll, Please: Drummers And Watches, Natural Timekeepers From Kiss, The Beatles, Deep Purple, And Even A. Lange & Söhne- Reprise
Over the last few years, we have published an unusually high number of articles about drummers, the timekeepers in nearly every musical band or group. It kind of stands to reason that drummers would particularly like watches – even if they can’t (or shouldn’t!) wear them while playing – as both fields have extreme time-keeping functionality. Elizabeth Doerr highlights a few of these stories right here.
Deployant
Video: Corum talks to the watch specialist press
Leading up to Corum's 65th Anniversary in 2020, the marque got together with a group of elite journalists in late 2019. Here are a few videos of the event.
SJX Watches
Up Close: Jaquet Droz Magic Lotus Automaton
Even though Jaquet Droz is a part of Switzerland’s largest watchmaking conglomerate – its parent Swatch Group also owns more mainstream names like Omega and Longines – the brand has consistently demonstrated an independence of thought with its impressive range of automata wristwatches – the latest being the Magic Lotus Automaton. Combining artisanal decoration with miniature automata – complex mechanical devices that typically imitate humans or nature – these watches continue a lineage that began with the brand’s founder: Pierre Jaquet-Droz (1721–1790). Jaquet-Droz built automata that were shockingly lifelike for the period, with his greatest invention being The Writer. A seated figure capable of writing a pre-programmed sentence up to 40 characters long, The Writer was such a feat that during the Spanish Inquisition, its maker was suspected of using witchcraft to create the uncanny contraption. Over two centuries later, Jaquet Droz has developed several modern-day interpretations of its allegedly supernatural devices, often wristwatches that combine an automaton with a minute repeater – and even in monumental pocket-watch format. The recent Magic Lotus Automaton, on the other hand, is much simpler, but one of the most unusual and intriguing. It is not a minute repeater, but manages to be brilliantly conceived and effective. Garden of wonders Despite not having a repeater, the Magic Lotus Automaton is still a mechanical bombshell – so it is massive,...
Hodinkee
HODINKEE Radio: Episode 79: Budget Watch Collection Fantasy Draft 2020
Four editors go head-to-head to assemble the best group of watches for under $10,000.
Hodinkee
Business News: Bulgari Leaves Baselworld 2020
Coronavirus concerns are a factor. But sister LVMH group brands Hublot, TAG Heuer, and Zenith say they’ll stay.
Time+Tide
The 5 best independent watch brands of the last decade
Independence is a rare commodity in watchmaking. To have it is one thing; to hold on to it is quite another. We’ve seen many great brands consumed by hungry conglomerates over the past two decades, with several big names falling under group ownership since 2009. But what of those that remain? Which labels still stand … ContinuedThe post The 5 best independent watch brands of the last decade appeared first on Time+Tide Watches.
Time+Tide
The Enabler: How to justify buying another watch (#10. The end of the world is nigh)
The Doomsday Clock started ticking in 1947. This was the brainchild of an international group of researchers called the Chicago Atomic Scientists who’d participated in The Manhattan Project – an R&D; program that resulted in the production of the first nuclear weapons. Essentially, the Doomsday Clock was designed to calculate precisely how close we are … ContinuedThe post The Enabler: How to justify buying another watch (#10. The end of the world is nigh) appeared first on Time+Tide Watches.
Quill & Pad
Reader Asks: Where Are All The Watches For Children?
The longer Quill & Pad reader Thomas enjoys the world of watches, the more people he meets, and the more collectors he talks to, the more he asks himself, "Why don’t we include children, children’s watches, and pay more attention to this group of potential collectors and customers to ensure the future?"
Hodinkee
Hands-On: The Montblanc Heritage Small Second Limited Edition 38
A 38-piece limited edition using a small cache of pre-Richemont Minerva movements.
SJX Watches
Bulgari Introduces the Octo Finissimo Automatic Satin-Polished
Continuing with the sleek and successful Octo Finissimo, Bulgari has just unveiled two new variants of the extra-flat wristwatch at LVMH Watch Week, a pre-Baselworld launch event for the luxury group’s three watch brands, which include Hublot and Zenith. The new Octo Finissimo Automatic Satin-Polished – in either steel or rose gold – is an iteration of earlier models, and is distinguished by its case finish, which is mostly brushed, but highlighted with mirror polished edges and flanks. With alternating brushed and polished surfaces, the new case finish catches the light nicely. In contrast, current versions of the Octo Finissimo Automatic have a uniformly matte, sandblasted finish that is more muted. While the finishing is new, the case is exactly the same size – 40mm by 5.25mm, giving it an incredibly slim profile on the wrist. The new case finishing is paired with a glossy, black-lacquered dial that has markings and hands to match the case material – either 18k rose gold with a leather strap, or in stainless steel with a matching bracelet. The bracelet is an integral part of the Octo Finissimo, so price and material aside, the steel model is more compelling from a design perspective. Both are powered by the BVL138, the ultra-thin automatic movement that’s standard for the Octo Finissimo. The movement is just 2.23mm high, and relies on a platinum micro rotor for winding. Key facts and price Octo Finissimo Automatic Satin-Polished Steel Ref. 103297 Octo Finiss...
Quill & Pad
Harry Winston Opus Series: A Complete Overview From Opus 1 Through Opus 14
Since the Swatch Group took over Harry Winston, a continuation of the Opus series has been somewhat in doubt. But in 2015 the Opus 14 finally arrived. And now it has been quietly said that an Opus 15 is on the way. Which makes this a great time to look back on the groundbreaking series.
SJX Watches
Breaking News: ETA Movement Sales Halted by Swiss Authorities
News last weekend that Switzerland’s competition regulator, COMCO, also widely known by its German acronym Weko, was weighing a ban on ETA movement sales to third-party brands caused a major stir in the watch industry – and a terse, lengthy response from Swatch Group, ETA’s parent and Switzerland’s biggest watchmaking conglomerate. The move was ostensibly to allow alternatives to ETA – once Switzerland’s dominant supplier of mechanical movements – to develop. According to the Swatch Group, the ban was entirely without merit, especially given the fact that ETA was no longer the biggest supplier of movements to the industry. That title now belongs to Sellita, which supplied a million movements in 2019, compared to half the number for ETA. Now COMCO has formalised the year-long ban in an announcement that puts in place a “temporary suspension of the supply of [ETA] mechanical movements to customers”. The ban will be in force until COMCO makes its final decision by the summer of 2020. The ban, however, allows ETA to sell its movements to existing clients that are small- and medium-sized watch brands, defined as having less than 250 employees, which will probably be of little consolation to ETA. According to a Swatch Group spokesman quoted by Reuters, the majority of ETA’s movement sales are to companies with more than 250 employees, and as a result, ETA foresees it won’t be able to sell any movements next year. According to the statement, the ban is foun...
SJX Watches
Tudor Extends Warranty on All Watches to 5 Years
In keeping with the lengthening guarantee periods throughout the watch industry – eight years at Cartier and most other Richemont brands, and five years at Rolex and Omega – Tudor has just announced the guarantee period for all its watches is now five years, for all watches sold from January 1, 2020 onwards. But owners of recently purchased Tudor watches will also get a warranty enhancement: all watches sold from July 1, 2018 to December 31, 2019 get an 18-month warranty extension, in addition to the existing two-years, for a total of three and a half years, or 42 months. Watches sold before July 1, 2018 retain the unchanged, two-year warranty. The Tudor Black Bay Chrono Dark Tudor’s warranty extension further enhances the value inherent in its remarkably well-made and well-priced watches, which are amongst the best value propositions on the market today. The warranty extension is unsurprising, not only because of the competition, but also because Tudor watches – particularly those powered by its in-house movements – are extensively tested and notably reliable.
SJX Watches
Business News: Swiss Authorities Weigh ETA Sales Ban
According to Swiss newspaper Schweiz am Wochenende (via Reuters), Switzerland’s Competition Commission, a federal body that oversees competition and antitrust matters, is considering an outright ban of movements sales by ETA to third parties, in other words brands outside of the Swatch Group, starting January 2020. Also known as COMCO, or its German acronym WEKO, the agency is expected to deliver a verdict on December 19 . No explicit reason was cited for the potential ban, but it was implied that a recent COMCO report on the industry structure of the movement business is the reason. It is possible that COMCO believes the number of alternatives to ETA is sufficient that the watch industry would be better served over the long term by forcing watch brands to switch away from ETA. COMCO has long tussled with Switzerland’s biggest movement maker, in a dispute that began 17 years ago, when ETA announced it would gradually halt sales of ebauches, or movement blanks, to brands not owned by its parent company, Swatch Group. Because ETA was, and still is, Switzerland’s largest movement, reputedly producing some five million movements a year, its decision was regarded by COMCO as anticompetitive. And the wider Swatch Group – which is the country’s largest watchmaking conglomerate – produces perhaps a third of the components needed for watch movements in the entire industry. In the subsequent years ETA and COMCO reached various agreements over movement supply, with the l...
Quill & Pad
Breaking News: ETA May Not Be Delivering Movements In 2020, Possibly Crippling The Watch Industry
The Swiss press is reporting that the tug of war between Swatch Group and Comco is now back on the table – and could result in dire consequences for the entire industry as soon as 2020, when ETA may stop delivering movements to outside brands. Get the story here.
Quill & Pad
50 Years Of Automatic Chronographs And The Recent Debuts From Zenith, TAG Heuer, And Seiko Commemorating The Milestone Invention(s)
1969 marked the introduction of the world’s first self-winding chronographs. These were presented by Zenith with its El Primero, Seiko with the 5 Speedtimer, and an illustrious group consisting of Breitling, Heuer/Leonidas, and Hamilton/Büren, with the Chronomatic Caliber 11. Sabine Zwettler takes us through the history and looks at three of the latest-generation commemorative automatic chronographs by these early pioneers.
SJX Watches
Business News: Stefanie Ng Appointed CEO of Audemars Piguet SE Asia
Audemars Piguet (AP) recently named Stefanie Ng to lead its operations in Southeast Asia, India and Australia. She succeeds Jonathan King, who departed the brand in April 2019. Having started her career at Swatch Group, Ms Ng joined AP in 2012 as marketing manager for the region, where she helped execute projects like the Royal Oak 40th anniversary exhibition and a giant floral clock at Gardens by the Bay. The past two years have been formative for the brand, both in Asia and the wider world, as it has steadily trimmed its third-party distribution while growing sales within its own stores, making the marketing efforts of Ms Ng and her team vital, particularly with the launch of the all-new Code 11.59 collection earlier this year. As chief executive, Ms Ng will work alongside two board members of AP, which is unusual amongst Swiss watchmakers in having shareholders resident in Singapore: Oliviero Bottinelli, whose family inherited its stake from former AP chief executive Georges Golay (1921-1987), and Sunil Amarasuriya, who was once the distributor for AP in the region and acquired a minority stake in 1990. The Audemars Piguet Code 11.59 tourbillon made for Only Watch, which sold for a record 1m Swiss francs at the charity auction in November Though the watch industry in the region, like that back home in Switzerland, is dominated by men, it’s noteworthy that two of the most important brands – coincidentally both family owned – are now run by women. The Patek Philipp...
Time+Tide
What Sealed The Deal – James’ Vertex MP45 chronograph
Vertex is a brand with a wonderful history. Founded in 1916 by Claude Lyons, the brand produced watches for Allied troops in the Second World War, following the specifications of the British Ministry of Defence, alongside 11 other brands (a group of manufacturers now known by collectors as the Dirty Dozen). The brand continued to … ContinuedThe post What Sealed The Deal – James’ Vertex MP45 chronograph appeared first on Time+Tide Watches.
Two Broke Watch Snobs
Ep. #152 Watching Cyber Monday
It’s Cyber Monday and the guys are here to share some of the coolest deals they’ve stumbled upon this holiday season. Be sure to tune in and share deals you’ve discovered on Instagram and the TBWS Facebook group.
SJX Watches
Breaking News: Seiko Exits Baselworld 2020
Switzerland’s biggest watch and jewellery fair will see one of its biggest exhibitors, Seiko, depart next year reports Yasuhito Shibuya of Chronos Japan. A Baselworld exhibitor since 1986, the Japanese watchmaker joins the stream of brands that have been departing the event since industry giant Swatch Group’s shock exit last year. According to Mr Shibuya, Seiko’s official reason for leaving is “because the opening time of Baselworld in 2020 is later than usual”, happening in May instead of the traditional March. Mr Shibuya also adds: “The fair happens a month later, coinciding with the Golden Week in Japan – a period with four consecutive national holidays within seven days. This is a particularly disappointing time for Japanese watchmakers.” “From the location of the booth to the floor plan of the fair [with Seiko’s booth on the second level], I do not think that Seiko has received equal treatment [as compared to Swiss brands]” noted Mr Shibuya. Despite its importance, both commercially and culturally, Seiko, along with fellow Japanese brands Casio and Citizen, has been relegated to the upper floor of the main exhibition hall since the venue’s lavish redesign in 2013. The loss of Seiko is no doubt a major blow to Baselworld, which has historically been a cash cow for exhibition organiser MCH Group, which also owns the Art Basel franchise. Instead of Baselworld, Seiko will launch its new products earlier in the year. However, according to a Seiko...
SJX Watches
Business News: LVMH Offers to Buy Tiffany & Co.
Luxury giant LVMH has made an offer to buy Tiffany & Co., America’s leading luxury jeweller (and the biggest retailer of Patek Philippe watches in the country), according to the Bloomberg. The French group made an all-cash offer of US$120 a share, a premium of about 22% over Tiffany’s last done share price and valuing the company at about US$14.4 billion. That would make Tiffany’s the biggest acquisition ever for LVMH, which has seen its shares hit record highs recently, bringing its value to over US$210 billion. Despite being the world’s largest luxury group – its brands include Louis Vuitton, Bulgari, Rimowa, Hublot and DFS – LVMH is relatively weak in high-end jewellery, especially compared to Swiss rival Richemont, which owns Cartier, Van Cleef & Arpels, and Piaget, and only just picked up Buccellati. Buying Tiffany would give LVMH a bigger presence in jewellery, as well as greater exposure to the United States, which is the jeweller’s biggest market, account for around a third of sales. LVMH only just opened a bag factory in Texas, the Louis Vuitton Rochambeau Ranch, in an event attended by Donald Trump and LVMH chief executive and controlling shareholder Bernard Arnault, who’s also the third-richest man in the world. Best known for its diamond engagement rings and blue boxes, Tiffany suffered from a weak spell in recent years, with its former chief executive Frederic Cumenal, an LVMH alumni, lasting barely two years. After he departed in 2017, to be...
SJX Watches
Swatch Inaugurates New Headquarters in Biel
A long snaking building that stretches some 240m, the new Swatch headquarters in Biel, or Bienne in French, is the culmination of five years of work. Selling about 9.5m watches a year for about 450m Swiss francs of revenue, according to Swiss bank Vontobel, Swatch was the foundational company of its parent, the aptly named Swatch Group, which also owns Omega and Longines. Like many of its parent company’s recent projects, the Swatch building was designed by Japanese architect Shigeru Ban, the 2014 Pritzker Prize winner who is best known for his works of wood or paper, as well as his temporary structures for humanitarian aid. Its new home is covered in a honeycomb timber grid that incorporates windows, nine balconies and solar panels. Visible from the inside is the Swatch logo, derived from the Swiss cross, incorporated into some of the grid’s cells. And hidden within the structure is a network of wires and cables for telecommunications, electricity and the like. The Swatch headquarters, with the Omega building at the far left The Swatch building ends in La Cite du Temps, which sits in front of the Omega factory and headquarters Shigeru Ban, Nayla Hayek, and Nick Hayek Jr at the opening ceremony on October 3, 2019 The glass-walled Swatch store in front of the new headquarters With the new headquarters in the background Light, flexible and sustainable, the timber beams used for the outer structure number some 4,600, all precisely cut to fit with join with each other per...
SJX Watches
Breaking News: SIHH Will Now Become Watches & Wonders Geneva
From 2020 onwards, the Salon International de la Haute Horlogerie (SIHH) will be known as Watches & Wonders Geneva, adopting the name of an event that first started in Hong Kong before migrating to Miami in the wake of the slowdown in the Chinese territory. Last year’s shock announcement by industry giant Swatch Group that it would depart Baselworld permanently set up off chain of events: a botched response that led to the resignation of the chief executive of the fair’s organiser MCH Group, and then a full-year loss for MCH. Some prominent brands like Breitling also decided to leave Baselworld, though the giants, like LVMH and Rolex, have opted to stay. Since then Baselworld’s new management has announced a flurry of new initiatives and programmes, starting with Baselworld announcing it would unite with SIHH after a decade’s separation. It’s also revealed an unimpressive hotel deal and more recently, a concierge service for visitors. All of that seems to have compelled the Fondation de la Haute Horlogerie (FHH), the organiser of SIHH – a watch fair in healthy condition compared to Baselworld – to do something as well. And so they have, with the goal of making the event more consumer centric. Rebranded but pretty much unchanged Palexpo forever Despite the name change, the format of the event appears pretty much the same. The Salon with its 30 exhibiting brands will take place as it always has, at the Palexpo conventional hall beside Geneva airport, loca...
SJX Watches
Business News: Rolex to Replace New York Headquarters with 25-Storey Building
A year after the opening of the Rolex Building in Dallas, designed by Japanese architect Kengo Kuma, London-based David Chipperfield Architects just announced it won an international design contest for the new Rolex skyscraper in New York City, beating out big names like Foster+Partners and Bjarke Ingels Group (which designed the new Audemars Piguet museum), according to industry publication Architects’ Journal. “Our team is committed to creating an exemplary building befitting the heritage and culture of the Rolex brand, as well as its prominent 5th Avenue location,” says Mr Chipperfield, speaking in the press announcement. Modernist and fronted entirely in glass, much like the rest of its work, the Chipperfield design will replace the watchmaker’s existing building located at 665 5th Avenue, on the corner with 53rd Street. Originally built for Danish silversmith Georg Jensen in 1924, the 12-storey building was revamped with a glass and aluminium facade when Rolex acquired it in 1977 for its American headquarters. The current Rolex Building, home to the company since the 1970s. Image – Google Maps A rendering of the new Rolex Building. Image – David Chipperfield Architects According to industry lore, the then chief executive of Rolex, Andre Heiniger, decided to buy the 5th Avenue building during a visit to the United States, closing the deal before getting the approval of the company’s board. Heiniger also led Rolex to acquire several dozen lo...
Time+Tide
G-Shock and Gorillaz’s latest collaboration is out Now Now!
Following the successful first collaboration between British virtual band Gorillaz and Japan’s G-Shock, the dynamic duo has once again teamed up for their latest and final collaboration together. Their two newest limited-edition creations, the GA2000GZ-3A and GW-B5600GZ-1, aim to pay homage to the iconic music group’s first album, Gorillaz, and their latest album, The Now … ContinuedThe post G-Shock and Gorillaz’s latest collaboration is out Now Now! appeared first on Time+Tide Watches.
Deployant
Throwback Sundays: Six Stealth Wealth watches that could fool a seasoned watch collector
Most seasoned watch collectors will easily recognize the usual culprits, the Pateks, Rolexes, APs, Richemont/Swatch/LVMH brands from a distance. In order to make this list of watches that qualify as stealth wealth, we have chosen timepieces that are 'unexpectedly' expensive, yet not instantly recognizable. They look simple on the dial side, yet have hidden complications and/or 'insane' finishing.