CLUB
Away from the Fairways | TEE TIME
STRENGTH IN NUMBERS
Rotonde de Cartier Perpetual Calendar Chronograph HKGOLFER.COM
THE FUTURE IS BRIGHT FOR THE GIANTS OF THE SWISS WATCHMAKING INDUSTRY, WRITES EVAN RAST CONTINUED OVERLEAF HK GOLFER・JUL 2013
17
share grows every year. In fact, growth in 2012 was due solely to mechanical watches, which posted an increase of 15.9 per cent in value Y-O-Y, and a 12 per cent increase by volume. Electronic timepieces registered a decline of -5.8 percent, while their value remained stable. The big watch companies – Richemont, Swatch Group, Rolex and LVMH – take up a lion’s share of the world’s watch sales, at almost half, and continue to gain strong profits. While the market has become more stable after the mad rush to cater to China in 2010, most still expect growth in 2013-2014. And with growth comes considerable investments. As the industry moves towards the ETA-free era, we see Richemont leading the pack with plans to invest more than CHF260 million in new production facilities and expansions for Cartier, Panerai, Vacheron Constantin and Piaget. It also plans to turn its integrated manufacture ValFleurier into its centre of movement production. Meanwhile, LVMH is shelling out up to CHF100 million for a new TAG Heuer factory, a Geneva facility for Louis Vuitton, a 100 per cent expansion for Hublot and a reorganisation for Zenith. Rolex inaugurated its new flagship in Bienne last year, and has invested 100 million for movement production. It’s a similar story for independents Audemars Piguet and Chopard, the former putting down 25 million to build a Geneva factory, and the latter increasing production of its own movements. As for materials, gold still reigns supreme, accounting for more than 94 per cent of total watch exports by value, an increase of 11.4 percent Y-O-Y. n 2012, Swiss watchmakers celebrated a Hong Kong is still the top market, recording milestone, with export figures for watches growth of 6.8 per cent in value, and accounting for topping the CHF20 billion mark. 20.4 per cent of all Swiss With a value of CHF21.4 billion, the exports. The United industry grew by 10.9 per cent yearStates comes second at While the watch on-year and 32.5 per cent over 2010, market has become 10.2 per cent, and China according to the Federation of the is third at 7.7 per cent. more stable after Swiss Watch Industry (FHS). This is an Some EU markets have amazing figure too when you consider improved, like Germany, the mad rush that it accounts for roughly 60 per w hich re co rd e d a to cater to China cent of the value of all of the watches growth of 33.1 per cent in 2010, growth produced in the world, and only three in value. per cent of the quantity. So what do all these is expected Of the 36 million watches produced numbers mean when to continue in Switzerland, about seven million it comes to watches? are mechanical watches, accounting We’re going to continue for 75 per cent of total export value. This means to see a lot of gold cases, in-house movements, mechanical watches represent a major chunk in especially from independents, and a focus on the value of the world’s watch industry, and its functionality, to make up for higher price points.
I Clockwise from top: the Altiplano Date from Piaget; the latest edition of the Bulgari’s Roma; Chopard’s L.U.C. Engine One H
18
HK GOLFER・JUL 2013
HKGOLFER.COM
GOLDEN OPPORTUNITY
MC, built on the base movement of the Calibre The past year was clearly buoyed by gold de Cartier Chronograph (1904-CH MC), but timepieces, with steel models “progressing at features a new module on the side of the dial a below-average rate,” according for the perpetual calendar to FHS. Bi-metallic watches, a function. A retrograde combination of steel and gold, also hand, mounted on the Hong Kong produced a below-par result, with dial at 6 o’clock, indicates is still the growth at 5.3 per cent. the days of the week . This year, Piaget released the Quick-correction pushers top market, Altiplano Date, a new complication on the case reset the accounting for for the series, combined with the calendar displays easily. 20.4 per cent world’s thinnest movement and The watch offers a 48-hour case. The model is equipped with power reserve, and the of all luxury the automatic calibre 1205P (only sapphire crystal caseback Swiss exports 3mm thick) while the 40mm white offers a generous view of or gold case measures only 6.36mm. the movement and the Aside from the date display, the dial skeletonised rotors. of the Altiplano also features an off-centred small Bulgari’s latest edition of its iconic Roma, seconds indication. A sapphire crystal caseback first created in 1975, is a limited and numbered reveals the 221-part movement. series in pink gold. The watch features a round, With a 42mm rose or white gold case, the elegantly curved bezel bearing the words Bulgari Rotonde de Cartier Perpetual Calendar and Roma embossed, inspired by Roman coins Chronograph is the first model in the series to that symbolised authority and strength of combine the two complications. The watch is character. A pure black lacquered dial creates a fitted with the automatic in-house calibre 9423
CONTINUED ON PAGE 76
HKGOLFER.COM
HK GOLFER・JUL 2013
19
CONTINUED FROM PAGE 19
good contrast with pink gold-plated hour markers and indexes. The movement is the automatic calibre BVL 191, with hours, minutes, seconds and instantaneous date, and features a power reserve of 42 hours. Entirely developed in-house, only 250 pieces of the watch will be produced.
INDEPENDENT FASHION
From left to right: the Pershing Chronograph 005 CBF from Parmigiani; the Rolex Day-Date Sertie; Vacheron Constantin’s Patrimony Traditionelle 76
HK GOLFER・JUL 2013
Despite the seeming dominance of the large watch groups in the industry, independent companies are proving that they have much to offer in function and style. Chopard’s L.U C Engine One H, released at Baselworld 2013, combines fine watchmaking with stylish, sporty aesthetic that the line is known for. The timepiece is similar to the LUC Engine One tourbillon presented in 2010, but has been rotated 90 degrees for a horizontal dial, hence the ‘H’. A limited edition of 100 pieces, the titaniumcased model features a centre-set minute and hour hands, on top of two indicators, a full/ empty power reserve display on the left, and a tourbillon with Chopard’s variable inertia balance wheel on the right. The back of the watch echoes
the design of a car’s engine, designed with grooved plates and bolts. At 44.5x35mm, this is a handsome, well-sized timepiece. Meanwhile up-and-coming Christophe Claret presented the Kantharos, a stylish monopusher chronograph with striking mechanism and constant force escapement. While the chronograph feature is common, what makes this timepiece different are the cathedral gongs designed to chime at each function change, and the constant force mechanism visible at 6 o’clock, that works to create a steady flow of energy from the beginning to the end of the power reserve. The 45mm titanium watch comes in five different colour schemes, combining black PVD with red and blue hands, white or pink gold accents.
LUXE UTILITY For those who like their luxury watches extremely tough and rugged, Audemars Piguet released a series of Royal Oak Offshores this year. The Royal Oak Offshore Diver, fitted with the self-winding calibre 3120, offers a 60-hour power reserve and comes in a 42mm black ceramic case. Fully HKGOLFER.COM
LADY LOVE
compliant with the NIHS 92-11 (ISO6425), this timepiece leaves no room for estimates, with a balance-stop device for setting the time, ceramic While there are no statistics relating to gender and the use of mechanical watches, ball bearing-mounted rotors, and a black rotating the number of brands presenting entire collections dedicated to ladies is also a inner bezel with diving scale and orange zone strong signal of this trend. Rolex is offering a seven-piece collection of Oyster Perpetual models for ladies. running from 12 to 3 o’clock. The brand’s famous mega tapisserie motif adorns the black dial with Called Day-Date Sertie, the watches come in 36mm 18k Everose or white gold white gold and luminescent-coated hands and cases, with a mother-of-pearl carousel dial featuring an openwork design hour ring in 18k white gold, and set with 217 diamonds inlaid with hour markers, and the back is pink or white mother-of-pearl and engraved with a floral fitted with a sapphire crystal motif. The ‘oxford’ dial, inspired by the English fabric, comes Rolex is offering a water-resistant to 300m. New additions to Parmigiani’s seven-piece collection in a basketweave pattern, with 18k white gold hands. Fitted with the in-house automatic calibre 3155, the watch has Pershing collection include of Oyster Perpetual centre hour, minute, and second hand functions, as well as the Pershing Chronograph models for ladies - called instantaneous day and date apertures, with stop seconds for 005 CBF. A collaboration with precise time setting. A more jewelled option comes with 60 the Confederação Brasileira de the Day-Date Sertie, baguette-cut diamonds on the bezel. Futebol (CBF), the watches come the watches come in Dedicating it’s entire SIHH novelty collection to women, in titanium, with either a rose Vacheron Constantin presents the Patrimony Traditionelle, 36mm 18k Everose gold or white gold bezel. The which comes in a slender 33mm pink or white gold round PF334 chronograph movement or white gold cases case with a bezel set with 54 brilliant-cut diamonds. The indicates hours, minutes, small opaline silvertoned dial comes with minute tracks painted in seconds and the date. The 45mm watches are individually numbered and engraved brown or grey, and applied hour markers and Dauphine hands are made from solid on the casebacks, and come with Hermes blue gold. The watch is fitted with the manual-winding movement 1400, bearing the Hallmark of Geneva. alligator straps. HKGOLFER.COM
HK GOLFER・JUL 2013
77