Alpha Marine

From Deep Blue -

Courtesy of Deep Blue

Swiss Made Alpha Marine 500 Tritium

The Alma

From DeWitt -

Courtesy of DeWitt

Enjoy!

A Cold Cup of Coffee...

Being an enthusiast does not make you an expert.  I played a little semi-pro soccer but I would not presume to give advice to Lionel Messi on his game.  But at a BaselWorld party I sat gobsmacked as a fellow blogger proceeded to give detailed feedback to the marking team of a watch brand (politely, mind you) of EVERYTHING that they were doing wrong, and how HE would do it, because of course, he came from "a MARKETING background"….

Now point of clarification, in fairness, if you ask one of us just what we think, we just might tell you ; )

So bearing all of what I just said in mind, I am about to share with you MY OPINION on the retail business in North America.  Fair warning -

YOUR FRIENDLY NEIGHBORHOOD RETAIL PARTNER IS BECOMING EXTINCT

Sounds pretty dramatic, doesn't it?

Well if you own a retail store you are facing increasingly taller odds of making it these days.

As a retail store, Brand X will expect you to carry (let's say) 24 pieces at any given time.

If you are a "New Jack", then most likely the best you can hope for is "terms".  Meaning that you were "sold" the watches on the understanding that you would settle the bill in what is sometimes  referred to as "30, 60, 90".  In other words, the brand is taking a bit of a gamble on you with the hope that if they let you have 24 pieces, you will pay for 8 of them in the first 30 day period, followed by the second 8 after 60 days with the whole account being "settled" at the 90 day mark (essentially a quarter of a year).

But more and more lately, it does not work that way.  Quite frankly, sales are soft.  Nobody is willing to pay retail, people more and more are shopping online or by phone.  And so now your friendly neighborhood retail partner is sitting on stock that hasn't sold, the brand is calling, calling, calling…

and something has to give.  So in most situations like this, the retail partner now must scramble because this represents the first falling domino.  If the retail partner can't pay the invoice, then one of three things will happen.  

1  If the BRAND is running like SWATCH, RICHEMONT, LVMH or ROLEX - let's just say they have entire departments that are focused on "collections".  The big groups get paid first, that is just the "law of the land".

2  If the BRAND is a mid-tier brand and can "carry" it, the BRAND will suck it up and the terms will extend out from 90 days, on to 180 days, and finally into a full year.

3  The retail partner is not big enough to get better terms, threatened with collections and litigation, to avoid going the bankruptcy route they will dump whatever stock they can.  Now contrary to popular belief, this is not limited to the most obvious approach - offloading the entire collection to a grey market web store.  

Step 1  

What will happen first is that the retail partner will phone their "best customers" with a "special offer".  Suddenly a watch that retails for $8,500 is suddenly 50% off.  And that is just for starters as there will be hemming and hawing back and forth, negotiations, requests for a "line of credit" from the store to help the customer pay for the watch, and so on.

Step 2

If this doesn't work, then there might be a call to a different retail partner to try and sell the watch to them, or swap it for an item a that might be more "sell able".  As a side note, in this instance it is a very, very dubious business practice on the part of the retail partner - and in my view it is theft.  They are giving away something that they have not paid for, and now the brand can't even get the watch back from the store, because the store has "traded" it.  Sorry, that is theft.  There, I've said it.

Step 3

If these two steps don't work, then the watch heads "deep south", meaning that it will be sold to a grey market web store.  And this has still not solved the retail partner's problem.  Remember, they bought the watch for "Keystone" which in most instances represents 50% off of the retail price.  But that is not what the grey market store will pay for it.  For a grey market store to be competitive they must sell the watch for AT LEAST 30% - 50% OFF of retail.  But they will be looking for the SAME 50% margin on what they paid.  So now, the watch that retails for $8,500 is being offered for $4,250 by the grey market store.  

Problem solved?  Not exactly.  Remember, the retail partner owes the watch brand $4,250.  They have sold the watch to the grey market for $2,125.  Meaning they still owe the brand $2,125.  And in the meantime they are trying to keep employees paid, pay the rent, keep the lights on…  I think you can see where this is heading.

So, who's fault is it?  In all honesty, it is both no body's fault, and every body's fault.  The brand has pressure put on it by shareholders to increase sales.  One of the metrics that the brand will look at is how many "doors" (stores) are opened in a 12 month period.  All doors are not created "equal" and when we speak about independent retail stores, the sad, simple reality is that it all comes down to cash flow.  The independent retail store needs to have different types of watches to remain competitive and they have to be ready to discount to not lose sales to the grey market and the bigger stores and chains.  They also have to pay rent, salary and keep the store open.  So the survivors of the independent retail game usually have a few things working in their favor:

1.  They own the building

2.  They move watches within 30 days - whatever it takes 

3.  They pay their bills - usually.  There are a few "bad actors" out there who will try to play games with smaller brands and mess them about.  This works for the retail store in the short term, but then they lose the brand.  Keep in mind that stores like these promote the idea that they can get you ANY WATCH you want at 30% off.  But when you've screwed a small to mid-tier brand manager over, he/she will not be too likely to let bygones be bygones. Even if that manager has moved to a different brand, they have made a point of sharing the "story" with as many fellow brand managers and brand reps as possible.  If you are a "bad actor" as a retail store, believe me, the people you screwed over will make sure that everyone knows it.  So when you go to big retail store X and they tell you they can't get a specific brand or model - the real reason is that they have "sinned" and it has not yet been forgiven ; )  

So, is there a solution?  Well, unlike my blogging colleague I am not going to presume to know for sure, but to put it succinctly - there is the potential for the retail store and the brand to work together and both be profitable.  Until they work out just how to do that, we will continue to be drinking cold coffee.

Enjoy your watches ; )

Tempus Fugit Initiative Update!

AND BIG UPS to 33 Jewels for Joining the Tempus Fugit Initiative!

We're getting there folks, we're getting there!

Keep Moving!

Okay Pals and Gals!

The Tempus Fugit Initiative is starting to pick up some steam and we are moving forward!  In honor of every one's great support, I borrowed this from "Skeletor is Love"!

Courtesy of Skeletor is Love

We are closing in on our first watch giveaway  -

You have a few more days left to win this amazing watch -

So if you have not done so already - and you have $50 that you can spare, why don't you join up with the rest of us and commit two to three weeks' worth of Starbucks drinks towards helping the IAPF's brave men and women help defend and protect endangered rhinos and elephants?

GO HERE:

IAPF

DONATE $50

Write in the notes:
TEMPUS FUGIT INITIATIVE

FEEL GOOD ABOUT YOURSELF - and share Skeletor's message!

Skeleton Tourbillon Manufacture

This just in from Ulysse Nardin -

Courtesy of Ulysse Nardin

Ulysse Nardin unveils an exclusive skeleton tourbillon caliber incorporating the very latest silicon technology. It is an exquisite expression of the brand's pioneering spirit.

GRAMMY CAMP® IN LOS ANGELES!

Once again, GUCCI steps up to promote music and the efforts of young musicians.  Having gotten to see the Gucci folks in action, let me assure you, this is more than a "media exercise" for them.  Well done GUCCI - keep up the good work!

Courtesy of GUCCI

Here's the news straight from the source -

TES Tourbillon

This just in from Arnold & Son -

Courtesy of Arnold & Son

Here are the details -

"You Are a Fool!"

This was part of the encouraging comment I received last night -

So it is clear that I must be doing something right ; )


A $50 donation to the IAPF will put you in the running to win this amazing watch from Frederique Constant!

Go here:

IAPF   

Donate $50
WRITE IN THE NOTES:  
TEMPUS FUGIT INITIATIVE

And help me prove this guy wrong -

"You are a fool. I've run into people like you before. I bet you have a house full of half starved cats."

The Tangaroa Lady from Eterna

“I wish I could tell you about the South Pacific. The way it actually was. The endless ocean. The infinite specks of coral we called islands. Coconut palms nodding gracefully toward the ocean. Reefs upon which waves broke into spray, and inner lagoons, lovely beyond description. I wish I could tell you about the sweating jungle, the full moon rising behind the volcanoes, and the waiting. The waiting. The timeless, repetitive waiting.” 
― James A. Michener, Tales of the South Pacific

Courtesy of Eterna

Meet the Tangaroa Lady.  And because this press release was sent by the BEST PR person in the watch business - Manon Vauthier, I'm going to reprint it in its entirety.  

GP Puts the World on Your Wrist

This just in form Girard-Perregaux -

The Girard-Perregaux Traveller WW.TC Titanium DLC

Courtesy of Girard-Perregaux

The iconic Traveller WW.TC opts for an intense black look. The new Titanium DLC version stands out with its strong character and a high degree of sophistication. Its highly technical case houses a manufactured mechanical movement offering world times and chronograph functions.

CENTURION Platinum Creations

This just in from Grieb & Benzinger -

Courtesy of Grieb & Benzinger

GRIEB & BENZINGER presents two new bespoke platinum creations: the CENTURION and the CENTURION IMPERIAL.

Don't Get Attached - part deux

Where have you been all my life?  It's very funny, that you can scan the world of Ebay and various watch forums but never find something "just like" what you are looking for.

Courtesy of Bell & Ross

I suppose this is a bit about obsession.  And guilty again of seducing me - Bell & Ross!

Ultima Thule

This is the Ultima Thule from ARCTIC

Courtesy of ARCTIC

Here are the details -

OMEGA initiates "Time for the Planet" in Indonesia

No, your eyes are not playing tricks on you, this is about OMEGA.

OMEGA - I know you've dropped me like a "hot potato", no calls, emails, carrier pigeon messages or smoke signals.  BUT - this is  a good initiative, it is drawing attention to an important cause, and frankly it is an important story.

So in the spirit of recognizing good corporate citizenship, here is the news straight from the OMEGA press site -

Courtesy of OMEGA

Together with the GoodPlanet Foundation, OMEGA has begun two environmental conservation programs in the North and South Sulawesi regions of Indonesia.

Reynold - a Beautiful Anniversary Present

This just in from Pierre DeRoche -

Courtesy of  Pierre DeRoche

This is the Reynold.

Marseille Blue for King Eric

I have, in recent months, shied away a great deal from "Celebrity News & Partnerships".  But when you set rules for yourself, you must be prepared to break them - I mean this is not a man, this is Cantona!

Courtesy of Hautlence 

You might notice - no champagne, no ribbon cutting, just Cantona, sleeves rolled up, working on an idea with the folks at Hautlence.

Royal Custom Authorized Reproduction …. Smells Like...

Okay, I like to think that I am a reasonable guy.  But being a reasonable guy from time to time I struggle to understand what is really motivating an idea.  So when I stumbled across the Royal Custom Authorized Reproduction of ROLEX watches with a KickStarter project, I was left scratching my head.

Essentially, what they are saying is that it is an "authorized" reproduction…
what they are not really saying is exactly what that means.

According to their main business website, they do modifications on existing ROLEX watches:

Royal Custom Watches are dramatically enhanced Rolex watches for the purpose of improved durability, functionality, and aesthetic design.   Many original Rolex components are removed and replaced with superior Royal Custom components.  The original Rolex components are then hermetically sealed into the display box for perfect preservation and ensured future value.  The hermetically sealed components can be used at any point in the future to convert the Royal Custom back into a completely 100% original, undamaged, unworn Rolex timepiece.  The original Rolex movement is the power source for the Royal Custom enhanced timepiece.  The Rolex movement may be upgraded to include some precious metal components such as rotor and various plates/bridges.  The balance bridge, balance wheel, and hairspring may also be hermetically sealed in the display box on certain models so they don't get worn and are replaced with Royal Custom balance bridges, balance wheels, and hairsprings.

Replaced components include the Rolex case, bezel, bezel insert, caseback, crown, winding stem, hands, face, bracelet, buckle, and rotor.  The original Rolex components are replaced with upgraded metals such as .950 platinum; 18k gold; .900 palladium; titanium; diamondized aluminum; .925 silver; high-tech ceramics; and anti-allergenic surgical grade stainless steel.  Plasma Vapor Deposit (PVD); Diamond Like Carbon (DLC) coatings; and Rhodium plating further enhance the components in many of the Royal Custom Watches.

BUT - their Kickstarter project is essentially to create( as near as I can tell), a reproduction of a ROLEX.  Honestly - this is not exactly cutting edge.  Moreover, it is not exactly (unless I missed something important) anything that has been explicitly authorized by ROLEX.  

Folks, in the watch industry - "Homage" means replica.  It is a pretty word that covers a multitude of sins.

To read the phrase "Authorized Reproduction" it is again a bit easy to misconstrue this as something that is a ROLEX Authorized Reproduction.  When you get down to the fine print you will then read that there is no connection to ROLEX inferred or otherwise.  So it bears asking - just who exactly is "authorizing" this reproduction and what exactly is it an "authorized reproduction" of?

As per usual, feel free to draw  your own conclusions.

Vacheron Constantin Moscow Boutique Grand Opening

This just in from Vacheron Constantin -

Courtesy of Vacheron Constantin

Vacheron Constantin, the world’s oldest Haute Horlogerie manufacture with almost 260 years of uninterrupted history, celebrated yesterday the grand opening of its Berlin House new boutique in Moscow. The event was hosted by Yann Bouillonnec, Vacheron Constantin International Director and Nicolas Deflers, Vacheron Constantin Russia Brand Director, in presence of Dominique Bernaz, Vacheron Constantin Retail Director and Filippo Gabbiani, architect for Vacheron Constantin Boutiques.

Marine Diver Redux

From Ulysse Nardin -

Courtesy of Ulysse Nardin 

Here's the news, straight from the source -

Baume & Mercier and the Promesse

Courtesy of Baume Mercier

The “Rubbergator” Makes a Splash at JEANRICHARD!

This just in from JEANRICHARD -

Courtesy of JEANRICHARD

For the perfect summer feeling,JEANRICHARD now combines the style and elegance of an alligator-skin strap with the water-resistance of a strap made out of rubber. The Swiss luxury watch manufacturer, together with Mestel, HEPIA (Geneva University of applied sciences - technology, architecture and landscape) and Agie Charmilles (part of Georg Fischer Machining Solutions) has created a brand new type of strap that epitomises its whole Philosophy of Life. Made out of 100% rubber, this newly developed strap technology reproduces the actual surface of alligator skin down to the smallest details, while offering absolute water-proofness as well as resistance against any other “outdoorsy” influences and strength of the sportiest watch-straps on the market.

Pharo BigDate with Power Reserve

From LIMES -

Courtesy of LIMES

Here's some further info direct from LIMES -

The Vintage 1945, Lady

Now granted, Girard-Perregaux's latest take on the 1945 is beautiful on the outside with its beautiful bejeweled dial and bezel.

Courtesy of Girard-Perregaux

It is indeed a sight to behold.  But as we all know, true beauty is more than "skin deep" -

A Few Minutes with Carlo and Samuel Naldi

One of the nicest parts about this little "bloggy-wog" is it has offered me the opportunity to meet a lot of people I never would have.  Two such people are Carlo and Samuel Naldi, the father and son team behind Edelberg.  And as today is Father's Day, it seemed an appropriate topic.  And now, a few minutes with two gentlemen that I am proud to call my friends - Carlo and Samuel Naldi.

Carlo and Samuel Naldi

Tempus Fugit -  Carlo - how did you get started in the Pen/Luxury business?

Carlo Naldi - I have been a pen aficionado from a young age.

The subject of pens themselves does not interest me as such.  My interest really lies in  the purpose for which the pen was invented, to communicate and share ideas between people and to leave an indelible mark in history.

My passion for archaeology was born out of my love of writing, and therefore my work with objects used for writing is a way for me to perpetuate an art that should not be forgotten by future generations; the art of calligraphy.

Tempus Fugit - Why pens of all things?

Carlo Naldi - The pen can be a luxury item, but above all else it is an object that shows the love that a person has for writing, communicating and a pen symbolizes the love that a person has for culture.

Samuel Naldi

Tempus Fugit - Samuel, had you always planned to work in the "family" business?

Samuel Naldi - Obviously my parents had built something with the idea that one day their children would take care of the business for the future.  In my case it happened quite fast after my experience at working at Embassy in Lucerne.  This gave me the opportunity to face a lot of hard challenges despite my young age.  In those four years I’ve had the chance to feel how nice it is to achieve dreams when you work hard and also to take risks that are part of the game when you are an entrepreneur.

Carlo Naldi

Tempus Fugit - Carlo, where did you grow up?  What brought you to Zug?

Carlo Naldi - My father, Ugo, worked for the Italian government in Switzerland.  I grew up on the border between Italy and Switzerland, in Ticino, the Italian speaking part of Switzerland.

After completing my studies in business, I started to learn German in Germany, then German speaking Switzerland.  I  then settled down for 13 years in Lausanne where Samuel and Keren, my children were born.  We have now lived in Zug in central Switzerland for 13 years.  Zug is a fast-growing area, strategically ideal for our business activities.

Tempus Fugit - Samuel, what did you do before joining the family business?

Samuel Naldi - I worked at Embassy in Lucerne.  Embassy is a premier watch store located at the Grendelstrasse.  At Embassy, I learned a lot about marketing, timepieces and luxury thanks to mentors such as Beat Weinmann (now at ochs und junior) and Patrik König.

Tempus Fugit - Carlo, your two signature pen collections (the Tachys and the Sloop) are fairly different.  What was the inspiration for each of these pens?

Carlo Naldi- Edelberg is a brand born from a passion for writing and calligraphy, but not only that… 

At its heart, Edelberg was born from the love of beauty, style and excellence.

As a Swiss company, and working in close vicinity of the watchmaking world, we are particularly attracted by the ideals of being "SWISSMADE" but we also closely identify with the watchmaking quality that Switzerland is famous for.

We therefore wanted to design a product with strong technical characteristics, a product that is "SWISSMADE", and is very connected to the world of watchmaking.

The Sloop product is very innovative and contemporary, 

Edelberg Sloop

while the Tachys wants to be more classic and discrete keeping that dynamic touch that differs it from other products.

Edelberg Tachys

Tempus Fugit - What makes Edelberg so special?

Samuel Naldi -  That’s something that I normally like to let our friends and customers answer. Edelberg is a brand that pursues excellence, innovation and beauty. And this is what we would like to transmit to our customers - the feeling of an item that is stylish and qualitative.  In the meantime, one of the most important things is that we want to give VALUE.  Value can be defined as brand value but also through exclusivity and restricted quantities.   In addition the hand made work that goes into our items give the customers the value of a "One of a Kind" piece. All of these features can usually be found in both our Regular and Limited Editions.

In the End our customer should have an item that inspires and excites him daily!

Tempus Fugit - You have come up with some very interesting limited editions and collaborations.  Can you tell us about some of them?

Samuel - Last year we had presented the Animal Prints and the Bespoke Collection.

The first one is inspired to the World of Animals. 

Animals have great energy and power and mean a lot to people. So we basically wanted to take this force and reproduce it in a writing instrument. In addition to that, we also said, that we are not going to use Animals to generate Sales without giving back. This is why every Pen donates an amount of 20 CHF to an association that Helps Endangered Species. (the Panthera Tigris donates to 21st Century Tiger). Every year a new Edition is presented.

The Bespoke Collection

The Bespoke Collection takes the idea of clothing, fabrics and patterns. Patterns are such a marvelous thing. They decorate and give character to seemingly ordinary items.  With that in mind, last year we created and presented the Pied de Poule and Gessato Edition.  This year another "cult-fabric" has been chosen.  We selected denim to create our the newest member of the Bespoke Collection - Blue Jeans!

At Baselworld 2014 we presented a special collaboration with Chronopassion, one of the Leader in the Retail of Watches. 

Chronopassion

With Laurent we have created an "Artistic-Horological" pen for the watch-enthusiast - a limited, hand-painted series of 88 pieces worldwide that was created by the Spanish Artist Alvaro Soler.

The future will bring other interesting and sexy collaborations with brands and houses that are leaders and innovators in their sectors.

Tempus Fugit - Carlo, what many people don't know is that there are several charitable initiatives that Edelberg is involved in - can you tell us about some of your partnerships?

Carlo - Edelberg loves to give back. We are priviled to live a life where we can’t really complain about anything, and we have everything we need to live well and in peace.  Having said hat, we know that it’s not the same for other people. This is why we love to give something that helps other people to live better, feel better and maybe face life more positively.

Tempus Fugit - Samuel, The Polio Watch - this is something that everyone has been talking about - can you tell us more about it and Edelberg's involvement?

Samuel Naldi - The Polio Watch is a great Project that was started by the Time to Act Foundation.  A good friend of ours, Marc Alfieri, contacted us and explained the whole Project.  Basically Marc created a beautifully designed watch, with a quite interesting electronic mechanism, stainless steel case, for 480€.   Of that, Euro 370€ goes to pay the production of the watch.  The other 110€ goes directly to the Foundation.  So that you have an idea of how powerful a contribution that is, 110€  will pay for 250 doses of vaccine.

Edelberg participates as an Official Partner and we have customized an edition with dark blue details.  Basically, we are helping promote the project and to give maximum exposure to this great initiative.

Tempus Fugit - So what is the next big thing for Edelberg?

Samuel Naldi - The Keyword for what we do will still be:  "Contamination".

Contamination is a mix of different worlds that in the end brings you excellent products with facets that attire different kinds of people.  Basically this is what we want: We want to be inspired by the world of tailoring, watches, engineering, nature, animals, writing instruments, art and sport.

This will lead us to create exclusive items not only in the world of writing instruments but also other luxury items.