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Seamaster Omega

Omega's 1948 waterproof family. Home of the Diver 300M (James Bond), Ploprof, Planet Ocean, and Aqua Terra.
Business News: Swatch Group Posts Full-Year Loss SJX Watches
Longines Jan 28, 2021

Business News: Swatch Group Posts Full-Year Loss

From a robust profit of CHF748m the year prior, Swatch Group ended 2020 with a net loss of CHF53m – the first in decades for the Swiss watch conglomerate that owns brands like Omega, Longines, and Tissot. This reversal of fortune was attributed to the COVID-19 pandemic, which forced many of its retail stores to close while putting a halt to international travel. On an operating level, Swatch Group eked out a tiny CHF52m profit – compared to CHF1.02 billion the year before. The year’s results were mitigated by an improvement in the second half of 2020, with sales in the second half of the year rose 54.7% compared to the previous six months, as economic activity resumed in Asia with pandemic restrictions lifted, particularly in China, which experience double-digit growth for the full year. And the Swatch Group also had to face a virus of the digital kind in the second half of the year. Reported in information-technology news but not in the mainstream press, the group suffered a cyber attack in September, leading to a mention of “a 10-day production interruption” at Omega in the results announcement. Hit harder than most With jewellery selling better than luxury watches, fellow Swiss rival Richemont was buoyed by its pair of jewellery brands that helped plug the hole caused by its faltering watch division. Although Swatch Group owns American jeweller Harry Winston, the bulk of its revenue is generated by watches and watch components. Net sales fell to CHF5.59 bil...

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Nick’s 3 favourite watches of 2020, including Cartier, Seiko and Hamilton Time+Tide
Grand Seiko launched Jan 7, 2021

Nick’s 3 favourite watches of 2020, including Cartier, Seiko and Hamilton

In spite of some not inconsiderable distractions, there were some pretty decent watches released in 2020. Quite a few of them actually. Omega relaunched their serially produced caliber 321, Bulgari executed the Octo Finissimo in steel, Grand Seiko launched an entirely new escapement in their SLGH002 and DOXA brought their most iconic design into the … ContinuedThe post Nick’s 3 favourite watches of 2020, including Cartier, Seiko and Hamilton appeared first on Time+Tide Watches.

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HANDS-ON: The Zenith Chronomaster Revival A385 is the return of a sepia-toned legend Time+Tide
Zenith Chronomaster Revival A385 Jan 5, 2021

HANDS-ON: The Zenith Chronomaster Revival A385 is the return of a sepia-toned legend

This morning a new generation of Omega Speedmaster Professionals were announced, but that was not the only legendary chronograph revival and rejuvenation introduced today. Zenith has unveiled a new tribute to one of their chronographs from 1969: the Zenith Chronomaster Revival A385 Gradient Dial. Game-changers in their day, Zenith produced three watches that were not … ContinuedThe post HANDS-ON: The Zenith Chronomaster Revival A385 is the return of a sepia-toned legend appeared first on Time+Tide Watches.

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Business News: Swatch Group Sales Plunge on Pandemic Closures SJX Watches
Longines had Jul 14, 2020

Business News: Swatch Group Sales Plunge on Pandemic Closures

Swiss watchmaking conglomerate Swatch Group just announced its half-year 2020 results and unsurprisingly, it took a huge hit due to the COVID-19 pandemic. Although the group, which owns brands like Omega and Longines, had a good start in January with an operating margin of 17.3% – with the watch and jewellery brands performing a bit better than movement- and component-production division – the lockdown progressively imposed across the world since February severely impacted sales, leading to a steep declines in revenue and half-year operating loss, a first for the group. Group sales for the first half plunged 43.4% at constant exchange rates from a year earlier, resulting in an operating loss of CHF327m, compared to a profit of CHF547m for the same period in 2019. Most of the drop in sales was attributed to the lockdowns in most countries, resulting in widespread store closures. The Swatch Group saw up to 80% of both its own boutiques and third-party retailers close, meaning it had to rely on partially “partially feasible” e-commerce. And even after lockdowns were lifted, the group permanently vacated some of its retail space, as evidenced by disputes with its former landlord in Hong Kong, which has sued the Swatch Group for several million in allegedly unpaid rent. Due to its swiftly-streamlining retail network, the group’s employee count was trimmed by 6.5% since December 2019 to approximately 33,700 employees. This was also confirmed by anecdotal evidence fro...

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Up Close: Jaquet Droz Magic Lotus Automaton SJX Watches
Longines Mar 10, 2020

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,...

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Jean-Claude Biver reveals “the most beautiful watch I have ever seen” Time+Tide
Blancpain back Feb 24, 2020

Jean-Claude Biver reveals “the most beautiful watch I have ever seen”

Jean-Claude Biver is a horological superhero. The legendary watch entrepreneur brought Blancpain back to life, resuscitated Omega and turned Hublot into a super-brand for which LVMH paid almost half a billion dollars. As a result, he’s assembled a private watch collection that would do King Midas proud. Auction house Phillips understands the appeal, which is … ContinuedThe post Jean-Claude Biver reveals “the most beautiful watch I have ever seen” appeared first on Time+Tide Watches.

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Business News: Swatch Group Annual Profit Falls with Hong Kong Slowdown SJX Watches
Longines just announced Jan 30, 2020

Business News: Swatch Group Annual Profit Falls with Hong Kong Slowdown

Hong Kong’s political unrest has resulted in the first fall in annual profits at the Swatch Group since 2018. The world’s biggest watchmaking group, which owns brands like Omega and Longines, just announced its 2019 results, showing declines in both sales and profits. Net profit fell 13.7%, while sales declined 1.8% at constant exchange rates, or 2.7% at current rates, to 8.24 billion francs. The drops in profit and sales were primarily due to a drastic contraction of its business in Hong Kong – a city with a population of just 7.4 million – where Swatch Group owns over 90 retail stores, largely catering to shoppers from the China. Sales in Hong Kong for the second half of 2019 fell by 200 million francs. While Hong Kong was the key driver of the decline, it was not the only one. The luxury watch business in general is suffering from anaemic growth, which is also evidenced by the watch division results at diversified luxury groups like LVMH and Kering. On a more positive note, Swatch Group has managed to fulfil its stated aims of reducing operating expenditure and thinning inventory. Operating expenses dipped about 6%, while operating cash flow rose 30% in 2019. And after several consecutive years of growth, the group’s inventories declined by 1% in 2019, to a still-substantial 6.85 billion francs at cost. It’ll be a slow 2020… With Swatch Group predicting the situation in Hong Kong will continue to be “challenging” in 2020, it is in a weaker positio...

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Tudor Extends Warranty on All Watches to 5 Years SJX Watches
Cartier Dec 18, 2019

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.  

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Rediscovering the Jaeger-LeCoultre Polaris Chronograph Time+Tide
Jaeger-LeCoultre Polaris Chronograph Editor’s note Nov 10, 2019

Rediscovering the Jaeger-LeCoultre Polaris Chronograph

Editor’s note: If you’re in the market for a steel sports watch with a chronograph complication, you really are spoilt for choice. Rolex’s Daytona, Omega’s Speedmaster, Tudor’s Black Bay Chronograph … the list goes on. However, if you’re looking for a timepiece that meets all of the aforementioned criteria, while still possessing a real and genuine … ContinuedThe post Rediscovering the Jaeger-LeCoultre Polaris Chronograph appeared first on Time+Tide Watches.

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Swatch Inaugurates New Headquarters in Biel SJX Watches
Longines Oct 19, 2019

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...

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RECOMMENDED READING: The Gérald Genta archives Time+Tide
Audemars Piguet Royal Oak Aug 1, 2019

RECOMMENDED READING: The Gérald Genta archives

If you’re reading this, you probably know who Gérald Genta is, and if you don’t, you probably recognise the name. He was the most prolific watch designer of the 20th century, having been the source of inspiration for the Audemars Piguet Royal Oak, the Patek Philippe Nautilus and the Omega Constellation. He designed for everyone, … ContinuedThe post RECOMMENDED READING: The Gérald Genta archives appeared first on Time+Tide Watches.

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VIDEO: The best watches of 2017 – $5000 – 10,000 Time+Tide
Tudor Heritage Black Bay Chrono Jan 4, 2018

VIDEO: The best watches of 2017 – $5000 – 10,000

For the third instalment in our video series of the best watches of 2017, we’re talking about watches priced between $5000 and $10,000, including a versatile Omega, a couple of chronos and some more dressy options. Tudor Heritage Black Bay Chrono The Tudor Black Bay landscape got a little complicated this year with the addition … ContinuedThe post VIDEO: The best watches of 2017 – $5000 – 10,000 appeared first on Time+Tide Watches.

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