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Santos Cartier

The 1904 Cartier watch designed for aviator Alberto Santos-Dumont.
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Tank Cartier

Louis Cartier's 1917 rectangular design, inspired by the Renault FT tank.
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Sword Hands

Flat triangular blade hands without a central ridge. Cartier Tank, Santos, IWC Mark XI / Mark XX classical-dress and military signature.
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Richemont

Geneva luxury holding group founded 1988 by Johann Rupert. Owns Cartier, IWC, JLC, A. Lange & Söhne, Vacheron, Panerai, Piaget. Largest haute-horlogerie portfolio in the industry.
What super-collector Roni Madhvani thinks about the steel sports watch craze Time+Tide
Audemars Piguet Jan 6, 2021

What super-collector Roni Madhvani thinks about the steel sports watch craze

Roni Madhvani is one of the biggest vintage watch aficionados on the planet. His Instagram page – @roni_m_29 – is the stuff of legend and showcases his treasure trove of some of the rarest and most eccentric timepieces from the likes of Patek Philippe, Audemars Piguet and Cartier. Conspicuously, however, it’s one of the few … ContinuedThe post What super-collector Roni Madhvani thinks about the steel sports watch craze appeared first on Time+Tide Watches.

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Business News: Switzerland’s Most Important Watch Fair Cancelled for 2021 SJX Watches
Patek Philippe as well as privately-held Nov 17, 2020

Business News: Switzerland’s Most Important Watch Fair Cancelled for 2021

Originally scheduled for the first week of April next year, Watches & Wonders 2021 was to have taken place at Palexpo, the convention hall near Geneva’s airport that’s long been host to Geneva’s major trade fairs. And it would have been a massive event, with up to 50 brands taking part. With the demise of Baselworld earlier this year, Watches & Wonders (W&W;) was on track to become the most important watch fair in Switzerland. Formerly known as SIHH, Watches & Wonders would have counted most of the industry’s leading brands as exhibitors. Its participants would have included all of the brands owned by Swiss luxury group Richemont, including Cartier, A. Lange & Söhne, and IWC, industry giants Rolex and Patek Philippe, as well as privately-held brands like Chanel and Chopard. A scene from SIHH 2019, seeming like a lifetime ago But due to the ongoing pandemic, the physical fair will not take place, and the participating brands will (mostly) launch their new wares online. A significant number of new watches will be unveiled during the planned dates of the fair – April 7 to 13, 2021 – but most of the brands will no doubt be unveiling additional watches throughout the year, as they have done in 2020. The organisers of W&W; are optimistic about the year after, promising the “2022 edition will be the biggest watch event ever held in Geneva”, with even more brands coming on board. For more, visit Watchesandwonders.com.  

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Highlights: Phillips Geneva Watch Auction XII SJX Watches
Audemars Piguet perpetual calendar Nov 6, 2020

Highlights: Phillips Geneva Watch Auction XII

Taking place over two days – Friday, November 6 and Saturday, November 7 – The Geneva Watch Auction: XII at Phillips is the first sale of the fall auction season. A compact sale of under 180 lots, the auction comprises a diverse line up, ranging from the obviously notable – like a Cartier Crash in platinum and a unique Patek Philippe ref. 5020P – to the obscure but extremely interesting, like the postwar A. Lange & Söhne wristwatch made after the company had been nationalised by the Soviets, as well as a vintage Audemars Piguet perpetual calendar with a paradoxical brand-new but factory-original case. Here’s a look at handful of standouts from the sale. You’ll find the full catalogue, as well as online bidding, right here. Lot 31 – Patek Philippe Annual Calendar Regulator ref. 5235G Unlike many of the other watches in the auction, the ref. 5235G is neither rare nor complicated, or even especially valuable. But it is an under-appreciated gem in Patek Philippe’s line up. Lightly designed and full of unusual details – ranging from the brushed dial finish to the engraved logo at three – the ref. 5235 also boasts a distinctively-designed movement unique to this reference and found in no other model. This example of the ref. 5235 is in white gold, which was discontinued last year and replaced by the same in rose gold with a black dial. While the new version is far more striking, the almost monochromatic white gold version is deeply appealing in its simplici...

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Business News: Watches & Wonders Shanghai to Happen September 2020 SJX Watches
Vacheron Constantin all owned Jul 23, 2020

Business News: Watches & Wonders Shanghai to Happen September 2020

With its Geneva debut in April 2020 cancelled due to the COVID-19 pandemic, the watch fair once known as SIHH is moving to Shanghai. Its organisers have just announced Watches & Wonders Shanghai will take place from September 9-13, 2020 at West Bund Art Center. W&W; Shanghai will see only 11 brands take part, down from 30 at the Geneva event. The exhibiting brands are A. Lange & Söhne, Baume & Mercier, Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, and Vacheron Constantin – all owned by Swiss luxury group Richemont – as well as independently-owned brands Parmigiani Fleurier and Purnell. Like the original fair in Geneva, the Shanghai event will be invite-only, and will include new product launches, talks, as well as watchmaking classes. Alongside the physical exhibition in Shanghai, W&W; will also unveil the new products on its website. With the Chinese watch market now in the midst of a sharp upturn post-pandemic – evidenced in the results of both Richemont and the Swatch Group – China is likely the single largest national market for luxury watches that is operating close to normal, making the migration of the event from Geneva to Shanghai eminently logical.  

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Jaeger-LeCoultre Introduces the Master Ultra Thin Kingsman Knife Watch SJX Watches
Jaeger-LeCoultre Introduces Jul 20, 2020

Jaeger-LeCoultre Introduces the Master Ultra Thin Kingsman Knife Watch

Jaeger-LeCoultre (JLC) teamed up with online menswear purveyor Mr Porter to create a wristwatch for the upcoming retro spy film The King’s Man, where the heroes are mainly sharply-dressed spies with canes and signet rings. Set in the years before the First World War, the film doubtlessly called for a watch that is seemingly period-correct – yet obviously one that would appeal to the today’s consumer. The result is the Master Ultra Thin Kingsman Knife Watch, a razor-thin, 4.25 mm wristwatch that takes inspiration from a vintage ultra-thin pocket watch. Initial thoughts At a glance, the watch might seem like a conventional but handsome dress watch. But the case design is outstanding – and compared to JLC’s recent creations, dramatically different.  The case is round with a wide, double-stepped bezel, a feature that gives it an old-school, classic feel. And the stepped bezel also adds presence so that the case doesn’t look too flat. And more unusually, the crown is at 12 o’clock and protected by a triangular bow. And the reason for the crown position is the fact that the watch is essentially a pocket watch with lugs. The origins of the design lie in a 1907 Jaeger-LeCoultre pocket watch, nicknamed “couteau” – French for “knife” – after its thin case with a sharp edge. That said, the “couteau” pocket watch is arguably more widely associated with Cartier, which relied on LeCoultre movements for its watches, which were made by the European Watch & C...

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Business News: Richemont Sales Halve in First Quarter of 2020 SJX Watches
Panerai suffered from widespread store Jul 16, 2020

Business News: Richemont Sales Halve in First Quarter of 2020

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...

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Business News: Richemont Fortifies Balance Sheet with €2 Billion Bond Sale SJX Watches
Panerai which make up about May 19, 2020

Business News: Richemont Fortifies Balance Sheet with €2 Billion Bond Sale

Having just announced its full-year results while predicting a gloomy outlook for the business, Richemont has successful placed €2 billion of bonds, with coupon ranging from 0.75% for the 8-year note to 1.625% for the 20-year note. The bond placement boosts the Swiss luxury group’s robust balance sheet, which had a gross cash position of €6.34 billion and a net cash position of €2.40 billion at the end of March 31, 2020. The notes received an A+ rating from credit ratings agency S&P;, which also lowered its outlook for Richemont from stable to negative, “citing the possibility of a downgrade if the coronavirus pandemic causes the company’s credit metrics to worsen”. Widely regarded as a savvy investor who transformed his family’s tobaccco-and-banking empire into an even larger one focused the “hard” luxury of watches and jewellery, Mr Rupert’s belief in the severity of the pandemic-induced recession is obvious. That, in turn, does not bode well for the luxury watch business. Richemont’s biggest earner is Cartier – the jewellery division is half the group’s turnover – it also owns a host of luxury watch brands, including A. Lange & Söhne, IWC, and Panerai, which make up about 20% of its sales. During Richemont’s earning conference call on May 15, Mr Rupert explained the bond issue: “We have always believed in protecting our balance sheet… For years, a lot of investment banks questioned us about that it’s a lazy balance sheet. But h...

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Business News: Richemont Pessimistic After Weak Results SJX Watches
Panerai enjoyed “good sales performance” May 15, 2020

Business News: Richemont Pessimistic After Weak Results

Richemont’s fourth quarter was one of the victims of the COVID-19 pandemic, pulling down its results for the full year to end-March 2020. Even though the full year’s tally was not down substantially, Richemont chairman Johann Rupert was gloomy in his prediction for the coming year. China, the first country to recover from the pandemic, has “apparently returned to ‘business as usual’ remarkably quickly” and Richemont stores there are enjoying now “strong demand”. But because everywhere else is only partway through the crisis, the plain-speaking South African tycoon raised the possibility of “12, 24 or 36 months of grave economic consequences”, while halving the annual dividend to €1 a share to conserve cash. Johann Rupert. Photo – Richemont The Swiss luxury conglomerate, which owns brands like Cartier, IWC, and Panerai, enjoyed “good sales performance” until the fourth quarter, with its jewellery brands and online retail performing better than other divisions, including watchmaking, which has lagged for several quarters. At actual exchange rates, annual sales eked out a 2% rise to €14.2 billion, with most regions growing slightly, save for a 5% decline in Asia Pacific. Net profit fell 34%, excluding a one-off, non-cash gain due to a share revaluation the year prior. The declines were largely due to the fourth quarter, where Richemont took a massive hit. In the last quarter, sales fell by 18% globally, with Hong Kong crashing 67%. The group end...

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All That’s New at Watches & Wonders 2020 SJX Watches
Vacheron Constantin Égérie collection Les Cabinotiers Apr 24, 2020

All That’s New at Watches & Wonders 2020

The virtual doors of Watches & Wonders 2020 are now open – here’s an overview of all notable new releases from the exhibiting brands. This page will be updated as additional watches are launched in the coming months, so bookmark this. A. Lange & Söhne Odysseus Datomatic in white gold Zeitwerk Minute Repeater in white gold Cartier Cartier Privé Tank Asymétrique Maillon de Cartier Pasha de Cartier Santos-Dumont XL Santos-Dumont Limited Editions Santos de Cartier ADLC Girard-Perregaux Laureato Absolute Light IWC Portugieser Automatic 40 Portugieser Chronograph 3716 Portugieser Monopusher Chronograph Edition “Laureus Sport for Good” Portugieser Perpetual Calendar 42 IWC Portugieser Yacht Club Moon & Tide Jaeger-LeCoultre Master Control Collection Master Control Memovox and Master Control Memovox Timer Montblanc 1858 Automatic 24H 1858 Split Second Chronograph Limited Edition 100 Heritage Manufacture Pulsograph Panerai Luminor Marina Carbotech PAM01661 Luminor Marina Titanio DMLS PAM01117 Luminor Marina Fibratech PAM01663 Submersible EcoPangaea Tourbillon GMT PAM01108 Parmigiani Toric Tourbillon Red Gold Slate Piaget Altiplano Ultimate Concept Vacheron Constantin Égérie collection Les Cabinotiers Grand Complication Split-Seconds Chronograph “Tempo” Les Cabinotiers Astronomical Grand Complication “Ode to Music” Les Cabinotiers “The Singing Birds” Overseas Ultra-Thin Perpetual Calendar Skeleton Traditionnelle Tourbillon Chronograph  

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Watches & Wonders to Debut Online Starting April 25 SJX Watches
Patek Philippe Chopard Apr 20, 2020

Watches & Wonders to Debut Online Starting April 25

Cancelled because of the COVID-19 coronavirus pandemic, Watches & Wonders (W&W;) was due to take place in Geneva but will now go online starting April 25, 2020 at 12:00 pm CET (or 6:00 am in New York, 6:00 pm in Hong Kong and Singapore), where most of the year’s new watches will be revealed. Once known as SIHH, W&W; was meant to take place in the Palexpo convention centre in Geneva. Now the 30 brands that would have taken part in the event will be presenting their wares on a brand-new W&W; website, a project that has been completed in barely a month. Amongst the exhibiting brands are A. Lange & Söhne, Cartier, Hermes, IWC and Panerai, as well as independent brands like Ressence and H. Moser & Cie. Three cheers for a long, long time ago, when W&W; was actually real The virtual fair will showcase most of the year’s new launches, accompanied by videos, articles and other content. And the April 25 opening is just part one of W&W;, with the second part slated to arrive in summer 2020, where additional products will be launch, along with “strategic e-commerce partnerships”. Ambitious as it is, being the first large-scale virtual “fair”, this may be the first and final instalment of W&W;, given that Rolex, Patek Philippe, Chopard and Chanel have withdrawn from Baselworld and will be joining the new, as-yet unnamed fair in Geneva in April next year that will substitute W&W;. The virtual W&W; will go live on April 25 at Watchesandwonders.com. You’ll find all of the new la...

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Blancpain Introduces Miniature, Skeleton, Form Movement Cal. 510 SJX Watches
Jaeger-LeCoultre has been Jan 21, 2020

Blancpain Introduces Miniature, Skeleton, Form Movement Cal. 510

Every year Blancpain (as well as its sister company Breguet) debuts a limited edition for Valentine’s Day. The concept is a bit kitschy – the watch is usually decked out in diamonds and hearts – but this year’s edition is a notably interesting watch. The Saint-Valentin 2020 is powered by a newly-developed form movement, the cal. 510, that is both rectangular and skeletonised. While traditionally Jaeger-LeCoultre has been the leader in form movements for ladies’ watches, most notably with the tiny cal. 101 and with other movements found in the Reverso as well as various Cartier Tanks, Blancpain has notched up a win in the segment with the cal. 510. The cal. 510 is relatively large for what is supposed to be a small movement for a ladies’ watch, measuring 12 mm wide and 25.2 mm long. But it is impressively constructed. It’s fitted with a good-sized barrel that gives it a 50-hour power reserve, which is lengthy for such a tiny movement. That is especially so considering the relatively large balance wheel that is free-sprung and equipped with hour regulating weights on its recessed rim. Additionally, the bridges are all open-worked, revealing the going train and barrel ratchet wheel. The result is also an obvious two-tone look, with the gilded wheels contrasted against the rhodium-plated bridges. And the components are finished carefully and completely, although it appears some of it is done by machine. The rest of the watch is arguably less interesting than ...

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Business News: LVMH Buys Tiffany & Co. for US$16.2 Billion SJX Watches
Louis Vuitton Nov 25, 2019

Business News: LVMH Buys Tiffany & Co. for US$16.2 Billion

After several weeks of negotiations, LVMH has sealed the deal to buy Tiffany & Co. in a US$16.2 billion, all-cash deal. Despite several years of listless growth and a declining share price – though its current management was in a midst of engineering a turnaround – Tiffany & Co. is the biggest acquisition ever in the luxury goods industry. The French luxury conglomerate, which owns Louis Vuitton and Christian Dior, is paying US$135 a share, about 35% above the last traded price before news of the takeover broke. With the acquisition of the storied American jeweller, LVMH strengthens its presence in the “hard” luxury business of jewellery and watches, a segment traditionally dominated by its Swiss rival Richemont, the owner of Cartier, Van Cleef & Arpels, and most recently, Buccellati. The addition of Tiffany’s to its 75-strong stable of brands, which includes watchmakers like Hublot and TAG Heuer, will also help LVMH grow its presence in China and the United States, where the jeweller’s baubles are popular. And the deal also means Tiffany’s well regarded chief executive, Alessandro Bogliolo, returns to LVMH, where he was once the chief operating officer at Bulgari.  

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Highlights: Phillips Hong Kong Watch Auction SJX Watches
Vacheron Constantin ref 6378Q automatic Nov 19, 2019

Highlights: Phillips Hong Kong Watch Auction

While the first instalment of highlights in Phillips’ upcoming Hong Kong auction covered mostly complicated watches, this is a look at the simpler and sportier stuff. A good number of the sports watches are in First, the opening session of the sale that is made up of watches consigned by the original owners. Some of these watches are distinguished by thorough historical documentation, as with the Rolex Submariner ref. 5512 below that includes several photographs of the original owner wearing the watch. And the rest of the sale also includes a few gems that are not exceptionally valuable, but attractive in both style and price. One example is the Vacheron Constantin ref. 6378Q automatic in white gold, with a diamond-marker dial to boot. This is part two of the highlights; you can find part one here. And the full catalogue is available on Phillips.com. The 6378Q First lot 813 – Cartier Crash Radieuse Launched last year, the Radieuse is one of just a handful of limited edition versions of Cartier’s iconic asymmetric watch. It takes the “crash” theme literally – the case and dial feature a radiating shockwave motif that starts on the dial and continues on the case, which has a relief, concentrically lined surface. The case is 18k yellow gold, while the crown is set with a brilliant-cut diamond. And inside is a small hand-wound movement made by Jaeger-LeCoultre. And in a big plus for potential Asian buyers, the watch is numbered “08/50”. Purchased from one of Ca...

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Business News: Richemont Reports Flat Watch Sales and Losses Online SJX Watches
Vacheron Constantin as enjoying Nov 8, 2019

Business News: Richemont Reports Flat Watch Sales and Losses Online

Having just announced its six-month results to the end of September, luxury conglomerate Richemont eked out a rise in sales driven by its jewellery division, with its online business staying in the red and watchmakers showing no growth. Sales rose 9% increase to €7.397 billion, with a stable net profit of €869 million, based on actual exchange rates. The group reported double-digit sales growth in China, Korea, Japan, the US and the United Kingdom. But overall sales in Asia Pacific, which accounts for 37% of the group’s sales, has been subdued, mostly due to the political unrest in Hong Kong, which accounts for around 10% of the group’s revenue. The city saw sales drop by double digits. Richemont’s jewellery brands, namely Cartier and Van Cleef & Arpels, though it just added Buccellati to its portfolio, reported an 8% rise in sales. Notably, it was led by a higher increase in watch sales than jewellery. Prospects for the group’s watch brands, which include IWC and Panerai, have been muted due to the slump in its biggest market, Hong Kong. Richemont singled out Panerai, A. Lange & Söhne and Vacheron Constantin as enjoying the highest growth within the watch division, which is notable for the fact that these brands are not usually the drivers of growth, at least in recent years. The A. Lange & Söhne Odysseus, launched too late to help sales but its maker did well anyway In terms of sales channels, retail sales at Richemont’s own stores were up by 4%, but who...

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The Rise and Fall of Asprey of London (and a Personalised F.P. Journe Wristwatch) SJX Watches
Louis Vuitton Oct 31, 2019

The Rise and Fall of Asprey of London (and a Personalised F.P. Journe Wristwatch)

An F.P. Journe Octa Calendrier caught my eye at Phillips’ upcoming Geneva auction, not because of the watch itself, but because of the name engraved on the movement: “John R. Asprey”. Now 82, John Rolls Asprey ran his family’s luxury emporium in its heyday, when it was a purveyor of watches, jewels, silverware, fine bookbinding and hunting accessories, with the Sultans of Brunei and Oman as its top clients. Unusually, Asprey was a prominent name in two diverse segments of watchmaking – what are now valuable vintage watches, think “Khanjar” Rolex watches, as well as modern-day independent watchmaking. How it came to be is the remarkable story of the rise and decline of a grand name in British luxury retail. A wondrous emporium Long before luxury brand names had coalesced into conglomerates like LVMH and Richemont, they were independent, family-owned enterprises that were small but globally known – at least by the right clientele. Amongst them were names that are still famous today, including Cartier, Louis Vuitton, and Tiffany & Co., but also one that is less well known now, Asprey of London. Founded in 1781 and having opened in 1847 at 167 New Bond Street – still its premises today, albeit leased – Asprey was once London’s leading luxury merchant. In some ways, it was the ultimate gift shop, where one could buy all manner of exotic and exquisite goods from all over the world, from books to watches to sceptres to crystal. Many of the elaborate objects ...

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Business News: LVMH Offers to Buy Tiffany & Co. SJX Watches
Patek Philippe watches Oct 27, 2019

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...

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Business News: Richemont Acquires Milanese Jeweller Buccellati SJX Watches
Panerai Sep 27, 2019

Business News: Richemont Acquires Milanese Jeweller Buccellati

Swiss luxury conglomerate Richemont has just added Buccellati to its stable of luxury brands, which include watchmakers like A. Lange & Söhne, IWC, Panerai. Richemont is buying the 100-year old Milanese jeweller from Gangtai Group Corporation Limited, a Chinese conglomerate that bought a majority stake in 2017 that reputedly valued the jeweller at €230m, or about US$271m at the time, according to Forbes. Gangtai had owned 85% of Buccellati, with the remainder held by the founding family, but like many of its peers the Chinese group has been forced to sell assets as the Chinese government put a stop to the debt-fuelled overseas expansion that was earlier fashionable. The terms of Richemont’s acquisition were not disclosed, although Chinese news website Jing Daily reports Buccellati was valued at US$313m, including debt, equivalent to about 15% of Richemont’s net cash position in the last fiscal year. According to Richemont, Buccellati family scion Andrea Buccellati as well as several other family members will remain with the jeweller after the takeover. Buccellati gives Richemont a more diverse presence in high-end jewellery, where its business is concentrated the Parisian jewellers Cartier and Van Cleef & Arpels, which together account for the bulk of group sales. In contrast to the French style of both Cartier and Van Cleef & Arpels, Buccellati’s Italian sensibility gives Richemont a stylistic counter to Bulgari, the Roman jeweller owned by French luxury ...

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Business News: Richemont and Swatch Results; Massive Inventories at Swatch SJX Watches
Vacheron Constantin saw overall sales dip Jul 18, 2019

Business News: Richemont and Swatch Results; Massive Inventories at Swatch

Swiss watchmaking groups Richemont and Swatch Group just announced their first quarter and six-month results for 2019 respectively, with each going in opposite directions. Owner of brands like Cartier, IWC and Panerai, Richemont saw growth across most segments and regions. Overall sales were up 12% at constant exchange rates, with every region growing in the low teens save for the Middle East and Africa. Sales in Asia grew 10%, led by China, where demand is up due to lower taxes locally on luxury goods and more stringent checks on travellers importing items bought overseas. Most notable was the performance of its online channels, namely luxury fashion mall Yoox Net-a-Porter (YNAP), pre-owned watch merchant Watchfinder, and to a lesser extent. That growth is from a low base of comparison: last year’s first quarter for each platform was only two and one month respectively. That being said, online sales are still substantial, rising to 50% to €648m, almost equal to the €698m of sales in the Americas as a whole. The group’s watchmaking brands, which include A. Lange & Söhne and Vacheron Constantin, saw overall sales dip 2%. This was attributed to a reduction in the number of sales channels as well as reduced orders of new product by retailers. Up in Biel, where the Swatch Group has its headquarters, half-year sales were down 3.7% at constant exchange rates, to 4.07 billion Swiss francs. Net profit followed suit, shrinking 11.3% to 415m francs. For the full year, howe...

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NEWS: Piaget open their first ever Australian Boutique Time+Tide
Montblanc Dec 8, 2018

NEWS: Piaget open their first ever Australian Boutique

Last week, Piaget opened their first ever Australian Boutique, and we were lucky enough to attend the opening. Piaget has joined several of their Richemont cohort, including Cartier, Montblanc and Panerai, at Melbourne’s iconic Chadstone Shopping Centre. The upscale apartment vibe provides a more relaxed approach to retail, with nice design touches, like informal seating options. … ContinuedThe post NEWS: Piaget open their first ever Australian Boutique appeared first on Time+Tide Watches.

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VIDEO: 5 of the best independent watches from SIHH 2018 Time+Tide
Montblanc Mar 8, 2018

VIDEO: 5 of the best independent watches from SIHH 2018

If you know a little bit about how the world of watches works, you’ll likely know that it’s a space dominated by a few big groups (namely Richemont, Swatch and LVMH), each with their own stable of brands. SIHH is a show dominated by Richemont brands - big names like Cartier, IWC and Montblanc. But … ContinuedThe post VIDEO: 5 of the best independent watches from SIHH 2018 appeared first on Time+Tide Watches.

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