Deployant
Throwback Sundays: Six recommendations for an entry level collector
This week, we explore recommendations for the entry level collector. Selections from Swatch, Luminox, Casio, Citizen, Seiko and Tissot.
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How Nicolas Hayek\'s ASUAG/SSIH merger (1983) and Swatch brand launch (March 1983) rescued Swiss watchmaking from the quartz crisis.
Largest Swiss watch employer (~17,000 staff). 18 brands from Breguet/Blancpain at the top to Swatch at entry. ETA SA + Nivarox-FAR. Hayek family controls.
Deployant
This week, we explore recommendations for the entry level collector. Selections from Swatch, Luminox, Casio, Citizen, Seiko and Tissot.
SJX Watches
Just days after the Swatch Group posted dismal half-year results, Richemont reported predictably poor sales for its first quarter, with revenue falling 47% to €1.99 billion compared to a year earlier. Like its rival the Swatch Group, Richemont was hit hard by the COVID-19 pandemic. The owner of almost two dozen watch and jewellery brands, including Cartier, IWC and Panerai, suffered from widespread store and distribution centre closures, a worldwide halt in tourism, and dampened consumer interest in many of markets, although China was a bright spot. Degrees of resilience The group’s business across the world was affected to varying degrees from region to region, depending on a combination of factors, namely the duration of closures, tourist spending, and spending of the domestic buyers. Although Richemont reported double-digit sales declines across all regions, distribution channels and business areas, the decreases were less pronounced in the Middle East, Africa, and Asia Pacific – the latter benefitted from a 47% year-on-year growth in sales in China, which exited its lockdown earlier than the rest of the world. China’s performance helped keep sales in the Asia Pacific resilient, to a degree. Sales in the region decreased by 29% at actual exchange rates to €277m, declining in all Asian markets, except China. Amongst the hardest hit were Japan and the Americas, where sales dropped 62% and 60% respectively due to widespread closure. The 2020 Cartier Privé Tank...
Quill & Pad
Shinola's Detrola collection is geared more toward color, materials, and fun than serious watchmaking. It balances style with affordability much the same way Swatch does. And the brand's new Detrola The Champ has one more thing going for it: it has turned a setback into a strength to benefit COVID-19 relief in the Detroit area.
SJX Watches
With Baselworld all but finished in name – with the COVID-19 pandemic having served as the catalyst for its demise – its organiser has already lined up a potential replacement, according to Swiss newspaper Handelzeitung. Events company MCH Group, which owns Baselworld and Art Basel, registered the trademark “Swiss Watch Week” in late January 2020, perhaps an indication its management already knew that Baselworld was untenable. Departing Basel, the city that the namesake watch fair had called home for decades is seen as crucial to escape the baggage and bad publicity that has dogged Baselworld. A good part of the criticism levelled at the fair concerns the opportunistic pricing imposed by restaurants, hotels, and other accommodation during the fair. The result was a slow burn that culminated in the end of Baselworld. A scene never to be seen again – the halls of Messe Basel packed with watch brands. Photo – Baselworld Once the world’s largest watch and jewellery fair, Baselworld was hit by a gradually accelerating string of departures, starting in 2018 with industry giant Swatch Group – owner of brands like Omega, Longines, and Tissot – citing the exorbitant cost of exhibiting and other city-related expenses. Swatch was followed by Seiko and others in 2019. But the fatal blow arrived in April 2020, when the fair’s biggest exhibitors – Rolex, Patek Philippe, Chanel, Chopard, and Tudor – pulled out and announced a move to a new, yet-to-be-named fair in...
SJX Watches
The unravelling of what was once the world’s largest watch and jewellery show has finally reached its unsurprising climax as the biggest exhibitors at Baselworld – Rolex, Patek Philippe, Chanel, Chopard, and Tudor – have just announced their withdrawal from the event. Instead the all-important brands – Rolex is the world’s largest luxury watch brand by turnover – will decamp to Geneva to show their new products at a new, as-yet unnamed watch fair that will merge with Watches & Wonders (W&W;). In the announcement signed by representatives of all five brands, the departing brands cited the “unilateral decisions taken by the management of Baselworld, including the postponement of the Fair in January 2021, as well as its inability to meet the expectations and needs of brands” as reasons for their withdrawal. With that, the centre of gravity for watch trade shows will shift definitely to Geneva, and marking the end of Baselworld as a crucial event on the industry’s calendar. Not only does it call into question the viability of Baselworld, it might even be a mortal blow for the watch fair’s parent company, MCH Group, which also owns Art Basel. Hello Geneva What started with the Swatch Group’s shock exit from Baselworld in 2018 accelerated this year, with the show’s exhibitor’s committee, led by a senior Rolex executive, politely demanding a refund of fees paid for the cancelled 2020 show. The negotiations between exhibitors and fair organisers have ob...
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SJX Watches
A contemporary take on the brand’s iconic watch – itself based on a 18th century pocket watch – the Jaquet Droz Grande Seconde Skelet-One Plasma Ceramic is a sleek and modern open-worked wristwatch, now in a new, high-tech case material. Originally available in ordinary ceramic, the watch has now been given a case of “plasma ceramic”, an unusual material that’s best described as a ceramic that resembles metal. The material begins are white ceramic that’s treated with a plasma gas, essentially ionised gas created at 20,000°C. The process of plasma carburising transforms the surface layer of the white ceramic into a metal oxide, giving the ceramic a grey, metallic finish while retaining all of the desirable properties of ceramic including hardness, low density and scratch resistance. Though plasma ceramic has been a hallmark of the Swatch Group and its many brands, including Rado, Omega and Blancpain, it is being used for the first time by Jaquet Droz. The case measures 41.5 mm across and 12.48 mm high, making it a tad larger than its gold counterparts, which is typically the case for ceramic cases due to the necessities of construction in an ultra-hard, but potentially brittle, material. Unusually for ceramic that is typically mirror-polished all round, the case is finished with contrasting surfaces – the bezel and top surfaces of the lugs are brushed while the case band has a polished finish. A clear sapphire disc forms the Grande Seconde dial, wit...
SJX Watches
A yearly tradition starting two years ago, the Sixties annual edition is a limited-production run of Glashütte Original’s well-liked, retro Sixties. In contrast to the sedate, Teutonic colours of the regular models, the Sixties annual editions are characterised by dials in bold colours and elaborate patterns, all produced the traditional way at its sister company located just several hours away. The annual edition began in 2015 as an experimental collection of watches with dials in over-the-top colours, before becoming an annual edition, first with a green dial patterned after water droplets, followed by an orange version of the same motif last year. Now Glashütte Original has gone in the opposite direction with the Sixties and Sixties Chronograph featuring pale-blue, dégradé dials finished with a simple, radial brushing. Decidedly more restrained than the earlier editions, the new “glacier blue” dials are still nuanced and striking. Subtle blue As with all of the dials found on the Sixties annual editions, the new “glacier blue” dials are produced by the what was once the Th. Muller dial factory in Pforzheim, historically the heart of the German jewellery and clockmaking industry, and now owned by Glashütte Original’s parent company, Swatch Group. The blue dials are finished in a dégradé, or graduated, colour that darkens towards the edges – an effect that requires multiple steps to achieve. It starts with a dial blank made of German silver that is...
SJX Watches
Swiss private bank Vontobel has just published its highly-regarded annual report on the luxury watch industry – the news for 2020 is grim. Put together by a team led by managing director Rene Weber, the Vontobel Luxury Goods Shop predicts a 25% fall in Swiss watch exports in 2020 – the biggest drop in 50 years as a result of the COVID-19 coronavirus pandemic. A proxy for the global luxury watch market, Swiss watch exports declined 22% during the 2008 financial crisis, and recovered swiftly the year after. But during the financial crisis there were no store or factory closures, and no halt to international travel. Since mid-March most watch brands, including giants Rolex and Patek Philippe, have shut their factories, or introduced short-time work, with between 60-70% of employees at Swatch Group working reduced hours. File photo of the Rolex factory in Bienne that’s gone quiet for now. Photo – Rolex At the peak of the pandemic in China, when practically the entire country was in lockdown, Vontobel estimated February sales fell 80%, something it expects will be repeated throughout the rest of the world. And even e-commerce is not enough to alleviate the situation substantially, because of logistical challenges. The report notes that as of mid-March,”the Swiss watch industry has come to an almost global standstill.” Unsurprisingly, the bank expects the pandemic to result in a steeper fall and slower recovery for the Swiss watch industry. The bank expects a s...
Hodinkee
And a Swatch phone, because why not?
SJX Watches
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,...
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SJX Watches
Following the cancellation of both the year’s biggest watch fairs – Baselworld and Watches & Wonders Geneva (WWG) – due to the COVID-19 coronavirus, a consortium of watch brands have come together to show their wares come April. The event, dubbed Geneva Watch Days, was the brainchild of Bulgari and its chief executive Jean-Christophe Babin – one of the first brands to pull out of Baselworld – and conceived with European press and retailers in mind. [Update March 24, 2020: GWD will now take place August 26-29, 2020 instead.] WWG to GWD Taking place when WWG was due to happen, April 26 to 29, Geneva Watch Days now has a line-up of brands big and small: Girard-Perregaux, Gerald Genta, Ulysse Nardin, Breitling, MB&F;, De Bethune and Urwerk. A handful more might sign on, including H. Moser & Cie. and Chopard. However, at present, none of the brands belonging to the major watchmaking conglomerates, Richemont or Swatch Group, or either of the Geneva giants, namely Rolex and Patek Philippe, has announced their participation – and are unlikely to due to the complexities of the industry. Crucially, Geneva Watch Days is not a fair per se, rather it is a series of events organised by brands in separate venues, including boutiques and hotels, but happening during the same period. Because the individual events during Geneva Watch Days are small-scale and discrete, none of them will run counter to the Swiss government’s temporary ban on events with over 1,000 people. ...
SJX Watches
Watches & Wonders Geneva (WWG), the trade show formerly known as SIHH, has just announced its cancellation. Scheduled to take place in Geneva from April 25 to 29, the event was canned due to “the latest developments concerning the worldwide spread of the COVID-19 coronavirus”. Organising body Fondation de la Haute Horlogerie (FIHH) said in a statement that the decision was made “to protect the health and wellbeing of all our guests, press, partners and teams.” Its announcement comes not long after Switzerland confirmed its first patient with the coronavirus on Tuesday, alongside a sudden spike in cases in Italy. A scene from SIHH 2019 WWG is the second major Swiss event to be cancelled, following the Swatch Group’s decision to call off Time to Move in Zurich, a launch exhibition of its new watches, which was scheduled to take place from February 28 to March 2. Industry insiders now expect Baselworld 2020, slated to take place right after WWG, to follow suit. Several exhibitors at Baselworld, including Bulgari and Citizen, have already pulled out of the fair. But as of February 20, the world’s biggest watch and jewellery trade show is still going ahead.
SJX Watches
With an annual output of just over four million watches, Tissot is Switzerland’s largest watchmaker by volume, with the bulk of its watches being affordable and quartz. But it has also carved out a niche with equally affordable mechanical watches starting at a bit under US$400 for the Swissmatic (a close relative of the Swatch Sistem51 movement). One step up is the Powermatic 80, an automatic movement that more closely resembles a traditional calibre – with more metal components and less plastic bits. A complicated model within the family, if it can be called that, is the Tissot Chemin des Tourelles Powermatic 80 GMT. It’s a dual time zone automatic starting at just US$875 – a value proposition that is also unusual in being one of the few GMT watches price below US$1,000. Chemin des Tourelles is the street in Le Locle where Tissot has had its factory since 1907 (though the brand was founded in 1853), sitting beside the facilities of Mido, Montblanc, and Vulcain. Unsurprisingly, the Chemin des Tourelles GMT is traditionally styled, though surprisingly large; the collection also includes a similarly affordable time-only automatic as well as a chronograph. The case is simple in form but appealing, with a surprising degree of detailing. The look is enhanced by the polished bevel on the outside edge of the lugs, which also have a notch where they join the case. And the case and bezel also have contrasting brushes and polished surfaces, making the whole more visually in...
Time+Tide
While a great many of the best watches unveiled in 2019 were vintage-inspired homages, there were also plenty of timepieces released that were resolutely modern and quite eccentric. And while we’d like to mention all of them, we’ve narrowed it down to these, the five quirkiest watches released in 2019: SWATCH FLYMAGIC The Flymagic is … ContinuedThe post Oddballs: 5 of the quirkiest watches released in 2019 appeared first on Time+Tide Watches.
Time+Tide
This weekend, I wore my Swatch Sistem51 Hodinkee Generation 1986 and went out in search of what other like-minded individuals had decided to attach to their wrist, and this is what I found out in the wild: Danny’s Tudor Black Bay GMT Danny has lusted after Rolex’s GMT-Master II Ref.126710BLRO ever since it was first … ContinuedThe post Weekend watch spotting with JR: featuring the Rose and the Crown appeared first on Time+Tide Watches.
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Quill & Pad
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
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
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
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.
SJX Watches
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...
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Was I wrong to include the Swatch Moonswatch in my list of top 10 most iconic watches? If you missed it, we're talking about my recent video on affordable top 10 icons from $20 to $500+ that all collectors, watch snob...
SJX Watches
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
First introduced five years ago with dials in solid, metallic colours, Glashütte Original has jazzed up the Seventies Chronograph Panorama Date with fumé dials featuring a graduated finish. Available either in green or grey fumé, the new edition is limited to 100 pieces each. Like the Sixties range of more classically shaped watches, the Seventies is a heavily retro line inspired by the experimental decade that’s best remembered for the birth of the luxury-sports-watch (and not much else, at least for now). The Seventies watches are typical of that decade’s style, characterised by square, stainless-steel cases and integrated bracelets. The chronograph has a television-shaped case that measures a chunky 40mm wide and 14.1mm in height. Like all of Glashütte Original’s recent, interesting dials, the fumé dials are produced by the former Th. Muller dial factory in Pforzheim that’s owned by its parent, the Swatch Group. Creating the smoked finish starts with the decorative sunray brushing applied to a German silver dial base with a rotating brass brush. The base then undergoes galvanisation before several coats of green or grey lacquer are applied. And finally, to achieve the graduated finish that darkens towards the edges, black lacquer is carefully applied to the edges with a spray gun, creating a slightly irregular dark border, then it is dried in a kiln. Mechanically, the watches are identical to the stock models; they are powered by the automatic chronograph...
SJX Watches
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
Located around the corner from its old premises, the Omega Museum has just reopened within La Cité du Temps – “The City of Time” – an impressive glass and wood building designed by Japanese architect Shigeru Ban, who has worked with the brand on several projects, including its new factory. Connected to the new Swatch brand headquarters via an aerial bridge, La Cité du Temps sits just behind Omega’s main building in Biel, a city about 90 minutes from Zurich by train. Appropriately, it is on a street named after Nicolas G. Hayek, founder of the Swatch Group, the Swiss watchmaking conglomerate that’s Omega’s parent company. La Cite du Temps, the horizontal building in the middle La Cite du Temps at right While the original museum was opened in 1983, making it the oldest watch brand museum in the world, the new museum sits on the second level of the five-story La Cité du Temps, with the Swatch Museum one floor above and another floor dedicated to temporary exhibitions. The new premises give the Omega Museum an expansive space to detail the watchmaker’s long and diverse history on a scale that was impossible in the museum’s former home, which it shared with the company canteen. The 64-window display that’s built like the links of a steel watch bracelet Each of the key themes in Omega history are captured in comprehensive exhibits, including being the official timekeeper for the Olympic Games, the Speedmaster Professional and the Moon landing – ...
Time+Tide
There’s a lot of discussion out there when it comes to the most recognisable watch design of all time. For many, that design is a Rolex (though personally I think the classic Swatch would give it a solid run for its money). The debate really starts to heat up when you ask the question of … ContinuedThe post The epitome of classic watch design – the Rolex Datejust appeared first on Time+Tide Watches.
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Here, we’re unboxing Grand Seiko’s SBGR095 62GS Recreation. Part of Grand Seiko’s Historical Collection, this 600-piece 2015 release celebrates the brand’s first-ever automatic watch, the 62GS, introduced back...
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