CLUBHOUSE Away from the Fairways Showstoppers: Patek Philippe’s 5170 Chronograph starred at Baselworld, while Vacheron Constantin’s Historique UltraFine 1955 and the Portuguese Yacht Club Chronograph from IWC impressed at SIHH
TEE TIME
Stargazing As two of the world’s most important watch events come to a close, Evan Rast looks into the present and future of watchmaking
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“But as they say, what doesn’t kill you will only make you stronger. And with the lessons companies have learned, it is us, the watch lovers, who are reaping the rewards.”
I Bumper Basel: Visitor attendance at Baselworld 2010 was up seven percent, an indication of the continuing market recovery
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HK Golfer・Jun/Jul 2010
am one of those who believe that maturity comes with experience, not age. Even the oldest and most successful of industries need a shakeup once in a while, especially if they seem to be moving onto a more selfindulgent path. We of course know what I am pertaining to. Our chum the Swiss watch industry was enjoying a period of unbridled growth – which led to cocky lavishness for some companies – when it had a moment of selfrealization, not by choice, but by necessity. The global financial crisis abruptly put an end to its devil-may-care days. But since then, at least in my view, things have only gotten better. Yes, sales may have slumped. And yes, the industry may have been ravaged, with many companies having to throw in the towel. But
as they say, what doesn’t kill you will only make you stronger. And with the lessons companies have learned, it is us, the watch lovers, who are reaping the rewards. Apart from feeling a bit more appreciated – and being less likely to fall for brands selling high-priced, ostentatious pieces that no one can maintain or repair – we now have the benefit of seeing beautiful, wellthought of collections that impart the true value of wearing watches; the most important of which is to read the time! Take Zenit h, for example, which has repositioned itself from a luxury-centred, wowfactor brand to offering pieces that are more accessible, still of high quality, but at the right price points. For 2010, the company focused on revamping one of its proudest achievements, the El Primero movement, by taking away the most excessive design features of its previous models and zeroing in on balance and readability. With maturity comes stability. While 2009 will be remembered as a year of drastic change, 2010 will likely be known as the year of persistence. Those who persevere will remain, and those who have not thought out their long-term strategies will have to deal with the consequences. Large conglomerates like the Swatch Group are already benefiting from their meticulous planning, of which product diversity
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F.P. Journe Chronomètre à Résonance
Baume & Mercier Classima 8870
Zenith El Primero Striking 10th
Oris Oscar Peterson
Montblanc Nicolas Rieussec Chronograph
Van Cleef & Arpels Le Pont des Amoureux
Panerai Radiomir P.999
Girard-Perregaux 1966 Chronograph
Parmigiani Bugatti Atalante
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HK Golfer・Jun/Jul 2010
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By the Numbers
SIHH 2010
Visitors 11,300 (+10%) Media representatives 1,200 Exhibitors 19 Swiss brands
Natural progression: the provocative Rotonde de Cartier Skeleton Flying Tourbillon represents Cartier’s ambitions as a serious watchmaker 14
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BASELWORLD 2010 100,700 (+7%) 2900 1,915 456
and industrial strength are key components. Compared to the entire Swiss watch industry, whose exports declined by 22.3 percent, the group fared better, down only by 5.5 percent. The group also announced a 29 percent increase in sales in December 2009, while other companies were still in negative territory. Recently we have seen watchmakers like Hublot, Chopard and Greubel Forsey invest in their own manufacturing facilities. Hublot, in particular, presented its first in-house movement i n Ba selWorld , t he U N IC O, a f lyback
chronograph that is fitted onto the brand’s King Power case. The company has also delved into sponsoring large sporting events like the FIFA World Cup, to be held in South Africa this June. Its contract as official timekeeper of the World Cup until 2018 was a decision questioned by many, since football is clearly a mass market sport. Where is the luxury there? But as CEO Jean-Claude Biver explains, it’s all about their long-term goal of reaching future leaders, executives and VIPs; slipping their name into the consciousness of not only a select few, but the largest number of people possible early on. Indeed luxury is being redefined as we speak. It’s not just about the divide that separates those who can afford it and those who cannot. For an increasing number of watch brands, it is more about bridging the gap. Technomarine, known for its plastic watches set with diamonds, has reintroduced itself this year as haute horology for the greater many, banking on its collaboration with renowned watchmakers for development of more affordable, yet still technically savvy creations. And while classicism and traditional values may be the buzzwords for the past year and well into the coming months, this doesn’t mean that innovation has been forgotten. Like many other industries, research and development will give brands an edge, and certainly make things more interesting. TAG Heuer’s Grand Carrera concept watch for instance, has been mentioned as one of the highlights of the Basel fair. The company has replaced the hairspring used in most automatic watches with a pendulum or virtual spring created from four high-performance magnets that creates a harmonic oscillator. The magnetic field provides the torque necessary for the balance wheel to oscillate and regulate its frequency. Like a regular pendulum clock, the TAG Heuer watch is more resistant to changes from disturbing forces, which makes it exceptionally accurate. A l l t hese developments su m up to a word that brings music to the industry’s ears: recovery. The Salon International de la Haute Horlogerie closed with attendance up 10 percent from last year. The 19 exhibiting brands, despite greater selectiveness in extending invitations, still reported an increase in orders. And at BaselWorld, visitor numbers reported an increase of seven percent, with a noticeable return of buyers from the US. After 15 months, Swiss watch exports were finally back on the positive quadrant (2.7 percent in January and 14.2 percent in February, in terms of value), definite signs of recovery. And though it may be slow – a couple of years, at least – the only way to go is up. HKGOLFER.COM