Numptys...

Per the Urban Dictionary -
Numpty:
Dialect, chiefly scots. A bumbling fool or one who is intellectually challanged.
(plural : numpties)
"they numpties couldnae organise a pissup in a brewery."
In reference to MSPs( members of scottish parliment). numpty by Gerry K. April 26, 2005

Courtesy of Audemars Piguet

Unlike most of my colleagues in the Fourth and Fifth Estates of Watch Town, I have held off on commenting on Hayek "the Younger's" latest thirst trap. By and large, I like Swatch, own a bunch, and even plumped for a Blancpain x Swatch as well as a Mission to Mars. They're fun.

And without going into the pros and cons of whether or not $420 American is wisely spent on this latest outing, I want to reflect on the shit-show that was Swatch's lack of common sense regarding the launch of the Royal Pop. Or to paraphrase James Corder's bon mots - Is human life only worth $420?

You can read his insightful commentary here, it is well worth your time -

https://www.watchpro.com/corders-column-somebody-could-have-been-killed-today-over-a-400-swatch/

While seeing crowds buzzing is good for business, I would like to think we have moved on from the Bernie Ecclestine / Hublot "if it bleeds, it leads" approach to marketing -

Courtesy of Hublot

And while many of us are sharing our feelings, curious to relate? It appears that neither Mr. Hayek, or Ms. Resta have been particularly forthcoming with coments following a highly anticipated, partially aborted launch capped off with near riots. Think I'm being overly dramatic? Simply put, riot police aren't typically dispatched to your neighborhood mall over a parking dispute, or a getting the wrong order at Orange Julius... 

While some folks will hopefully get and truly appreciate their new pocket watch, my sincere hope is that in Biel/Bienne and Le Brassus there might be just a wee bit of reflection on how this was handled, and maybe (doubtful, I know) maybe one of these two leaders can put their egos aside and accept the responsibility for the situation and offer some sort of acknowledgement.

I know, this is about as likely to happen as me being invited on an AP press junket ; )

Or to paraphrase the closing scene in one of my favorite films -

"Forget it, Henki. It's Watch Town."

JLC Reversal?

Not the hottest or freshest of news, but still interesting. If the reports from Miss Tweed and Mr. Zuccali are to be believed, Jérôme Lambert has possibly taken a page from his former sparring partner (Georges Kern) and might be working to pull together a management buyout to make Jaeger-LeCoultre independent and remove a second watch brand from the Richemont stable.

There are many different theories floating around watch town as to whys and wherefores motivating the heroes and zeros. But it does (to me) represent a few possible misconceptions as to the true value and long-term stability of JLC - no offense to the players in this little drama ; )

I was reminded recently (while listening to a watch podcast) that a lot of the folks opining on the machinations of Watch Town these days are, to a large extent, New Jacks. That doesn't make their opinion any less valid, but these are folks who did not go through the downturn of 08/09, nor experience the riches to rags saga of Basel World snatching defeat from the jaws of victory. What these pundits aren't really taking into account is that not so very long ago, the Richemont watch division juggernaut was just a gleam in the milkman's eye. Now granted, that milkman was one Günter Blümlein, but the one key reason why JLC became what it did was hard nosed cost cutting and consolidation prior to Richemont's acquisition. And, ironically, a lot of that lesson was lost in the succeeding decades. And a lot of that hit home with me when I recently visited the new JLC boutique in what locals are calling "Switzerland in Boston" on Newbury Street. Shit-tons of SKUs. And if I am brutally honest? There are only so many hard-core collectors who either live or visit Massachusetts's largest city. But this is more than just a question about local retail strategies. It becomes a much bigger question as to brand identity. I am a JLC owner. A fringe one, to be fair - an Atmos clock currently in off-site storage that is correct twice a day. When we consider how much money it takes to create, manufacture, and most importantly - to innovate? Without Uncle Rupert making it rain, JLC will not be such an easy lift.

Arguments can (and will) be made that this is a swashbuckling move that will once and for all firmly cement JLC's position amongst the all-time greats. I mean, c'mon! Just look at what Kerns did with Breitling! 

Well, yes and no.

Part of the feel-good love story of Breitling's triumphant reemergence is the part that most don't acknowledge - the not insignificant "re-ups" provided by private equity.  

And what about AP? Look at what Mr. B did? Again, that's a case of two things being true at the same time. He did bring the brand to new amazing heights, but that roll had already started, and was chiefly fueled by his on-again, off-again understanding that despite AP's at times deep catalogs, the real demand of any significance was the Royal Oak. Is there that much appetite for the Reverso out there? And while I'm sure that Mr. Lambert is a perfectly nice fellow, he doesn't exactly have the charisma of Mr. B, or even Mr. Kerns. Now in terms of personal dynamism, the same could be said of Mr. Dufour, but then again? He's in charge of Rolex. And JLC can paint as many pretty picutures as they like, but they are not Rolex.

So as is so often the case in Watch Town, we will wait, and will will see.

Waiting for the World to Change

This first ran in 2014 - just over 10 years ago. In re-reading it this morning, it is clear that not a whole lot has shifted in that time. Let's see if anyone in Watch Town is ready to pick up the gauntlet.

Waiting for the World to Change...

So...

Show of hands - how many of you out there bought a watch because Warren Beatty was given one as a freebie at a film event, or because Arsenal slapped their logo on the dial?  I think we all know the answer to that - if you had, both JEANRICHARD and Girard-Perregaux would be in much better fiscal shape than they are now.

Did you run out to buy an Hublot when Floyd (I show my love for the mother of my children in a physical way) Mayweather was presented a watch?

Did you buy an Audemars Piguet in joy and jubilation following a Serena Williams grand slam win? 

Did a burning desire to own a Maurice Lacroix overcome you when you read via Facebook that they were sponsoring cliff diving?  REALLY?!??!!!

Did you fly to the authorized retail partner to buy an Huatlence when Eric Cantona signed on?  Okay, bad example.  True confession, I would buy "King Eric's" old t-shirts and frame them - he's the shit that killed Elvis!  But to buy an Hautlence?  Gotta' draw the line somewhere, and I would rather have four walls and a roof than live in my car with an Hautlence on my wrist ; )  Should Hautlence ever deem to actually, I don't know, invite me to some of their "events" I might be willing to modify this opinion ; )


But ask yourself this question -

What (if any) return on investment do you think a watch brand receives when they plop hundreds of thousands (if not millions) on a promotional partnership?

Yachts?  Racing cars?  Super models?  And what REALLY drives these choices?  It is vanity, artifice and frankly a good flush of investor money straight down the toilet of waste to satisfy the ego of watch executives.  Does it drive sales?  Maybe not so much when one of your biggest "stars" rewards his team mates with a different company's watches... sorta' a kick in the dick seeing as you gave the guy like, a "Bajillion Dollars" to wear your watch and try to appear happy about it.  Just sayin' ...

I'm tired.  I'm tired of it, and I don't want to write about it any more.

And here's the irony - many of these brands actually do good, donate money, participate in charitable actions - but it's almost as if they are ashamed of having the world know about it.

Watch brands - if you do something GOOD, something FOR OTHER PEOPLE WHO NEED HELP - FU*&ING TALK ABOUT IT!  Stop burying your good deeds with more fodder about your latest ambassador from Taiwan, or how Jeremy Renner "chose" your watch for the "red carpet", or that some "long in the tooth" supermodel is your latest partner - nobody gives a shit anymore.  It costs a great deal of money and frankly you could do more with that money and get MORE POSITIVE publicity - which frankly is what you were trying to do in the first place, right?

What could you do?  Well thank you for asking, allow me to suggest:

Look to Rolex and Hermes and what their foundations do.  You could endow scholarships.

If you like football (soccer) as much as so many of you claim, you could donate some money NOT to a pro team that needs money like it needs a hole in the head - you could give the money to a really GOOD organization like Grass Roots Soccer.  Be involved in soccer, be involved in education and help to stop the spread of AIDS.  Seems like a pretty good deal, doesn't it?  Still want to have big-time soccer people involved?  No problem, they've got you covered:
Christen Press, Elton John, Freddie Ljungberg - I think any brand would be proud and frankly lucky to have these folks attached them.  And for the brave watch company that says - "YES, We want to be a part of this!"  I guarantee there will be football stars who will gladly join you.  As odd as it sounds, doing good can be good for business.  But I also realize that you've done it the same way for the past 20 years or so.  Change is hard, because it requires you to admit that maybe, just maybe the world has changed and you have not kept up with it.  

Audemars Piguet's well-quoted slogan is: "To break the rules you must first master them".

I would do them one better: "To be relevant in the world you must first participate in it."

The brand that's ready to do that - I am ready to fly the flag for.

The Transfer Window Opens - Welcome to Crazy Town

Well for those who were on the edge of their pool floats or chaise lounges, fear not! The transfer window is apparently still open and though this is more fish-wrap than news at this point, let's get caught up, shall we?

News was strategically placed with that bastion of impartial reporting Hodinkee (oops, coffee just shot out of my nose and I need to take break to wipe the screen) that "Arnault, the even younger" had a case of the fidgets and hiked up his leg to more firmly "mark" his territory around the halls of LVMH's watch division. Long story short? Former favorite of God (JC Biver) Ricardo Guadalupe (you may remember him from such jobs as "CEO of Hublot") has either decided, or been asked, to sling his hook and take it on the arches. Now the official word is that he will be assuming the position of "Honorary President" of Hublot, which essentially means he won't be required to go to board meetings and he can play out his contract. He is only 59, so I tend to doubt that this will be his last stop, but you never know.

I have no doubt this suits junior just fine as Guadalupe was the last of Biver's palace guards, and know the only thing he is running is Jack and shit, and Jack just left town.

But then the other intriguing turn - fresh off of a truly stunning few months at Tag Heuer (yes, that was sarcasm) Julian Tornare leaves La Chaux-de-Fonds in the rearview as he heads south to Geneva to lead product placement firm Hublot. 

Rumor has it they make watches as well ;)

Now the other funny bit in all of this is reading the commentary from some of my more well-heeled colleagues in Watch Town's Fourth and Fifth Estate claiming that Mr. G had spent too much time and focus on brand partnerships and famous "chums". It is clear that they slept through the Biver years at Hublot ; ) 

This is made even funnier when notable conspiracy theorist and pro football player Aaron Rogers was picked to "Reach His Star" (still the worst tagline ever) on behalf of Zenith. So look for more NFL quarterbacks to be joining the Hublot stable now that Tornare can indulge in fantasy football picks with a real budget to throw at them.

But then perhaps the goofiest turn of events came from independent brand Audemars Piguet. You might have heard of them, old family owned independent brand with one and a half product collections? It would seem that although the Royal Oak continues to be hotter than Satan's jockstrap, Hodinkee's personally anointed sage on all things horology and pop music has been tipped to be a special envoy. So needless to say, Hodinkee will now be able to rhapsodize about which version of the Royal Oak best sets off a tattoo sleeve with leather jacket sleeve zhuzhed. Give me strength...

Here is the info, straight from AP -

A unique collaboration.
We are thrilled to announce that we have appointed the iconic American singer, guitarist, and watch collector, John Mayer, as our “creative conduit”.
In this unique role, John Mayer will not only act as a channel of creativity, pushing the brand to explore new horizons and elevate our technical, aesthetic, and ergonomic developments, but he will also serve as an important translator between Audemars Piguet and watch enthusiasts worldwide. His collector’s eye and deep insight will guide us in innovating to meet the ever-evolving needs and expectations of our clients.

Okay, I have absolutely zero idea what a "creative conduit" is, but this new "job" for Mr. M truly begs credulity. I mean, unless he has some idea to save the 1/2 product family the ill-fated Code 11.59, 'cause that is one turd that seems to refuse to be flushed....

Do you mean to tell me that Audemars Piguet, with more cash than some small third-world GNPs, and with 1 of their 1.5 product families having one of the most sought after watches of all time needs a man notable for these bon mots which he dropped in an interview with noted watch collector enthusiast magazine, Playboy -

“My d–k is sort of like a white supremacist,” Mayer went on. “I’ve got a Benetton heart and a f—in David Duke cock. I’m going to start dating separately from my d–k.”

Well, I guess AP knows what their doing...

Let's hope Mr. Mayer keeps "little David Duke" in his pants, it's Le Brassus, not Las Vegas.

The [RE]MASTER02

From Audemars Piguet - 

Courtesy of Audemars Piguet

Okay, to be honest - I'm a wee bit conflicted by this latest release from Audemamrs Piguet.

I love the shape, the design is impeccable, and guess what? It isn't a Royal Oak! Considering that the choices at AP had been reduced to the Royal Oak sport and the dubious 11.59, this is a welcome offering.

The case is asymmetrical, that is the part that really jumps out at you. Its advertised size is 41 mm, with a thickness of 9.7 mm. The case is crafted of a new alloy that the folks at AP refer to as 18 carat sand gold. The movement is the Calibre 7129, which is self-winding. 

Now for the conflicted portion - the price.

At $47,200 it is not an insignificant lift. And this is where the customer might be asking themselves just what else might be available from the other fancy brands out ther.

While I love the aesthetic and the willingness to go in a decidedly different direction, the price is (at least in my opinion) a bit too much. 

With that said, with only 250 available, I am quite confident that there will be buyers out there more than happy to pay the freight for this one. It is a bit special.

Flying into MUC, Bringing in My Personal AP... Please Mr. Custom's Man, Don't You Check My Bag

Okay, cute and snappy title, huh? And yes, it is a bit sarcastic. BUT, the sarcasm is actually directed at the situation, not Mr. Schwarzenegger.

For those of you few watch enthusiasts around the world who slept the last 48 hours, here's a quick link from the Guardian -

https://www.theguardian.com/film/2024/jan/17/arnold-schwarzenegger-detained-munich-airport-over-luxury-watch

Courtesy of CNN.com (Arnold Schwarzenegger was held at Munich airport after failing to declare an expensive watch. Portions of this image were obscured by the source before CNN obtained it.)

Now let's dive right in, shall we? Essentially, Mr. Schwarzenegger was transiting through Munich Airport en route to Kitzbuhel, Austria where he was scheduled to auction off his AP watch with the proceeds to his climate crisis charity.

The statement from the customs folks in Germany was that Mr. Schwarzenegger failed to declare the watch, further that it was an "import", and thus subject to tax. Now this is a point that I am actually in agreement with. If the contention of the tax man is that because the watch was coming into the EU, and would be sold in the EU (albeit for altruistic reasons)

and would therefore be taxable, then fair enough. 

But where (from my naive, American perspective) things got a little goofy was the stern statement from the customs office as cited from the Guardian's article:

A customs spokesperson told Sueddeutsche Zeitung: “If the goods remain in the EU, you have to declare them through customs. This applies to everyone, whether their name is Schwarzenegger or Müller, Meier, Huber.”

Not really sure what the snark from the customs spokesperson was in aid of, because by all accounts, Mr. Schwarzenegger cooperated completely, did not make a fuss or pitch a fit even though the efforts to collect the pre-payment of taxes and fines went more than a bit sideways...

Per CNN's coverage:

The actor agreed to pre-pay potential taxes on the watch and the officers failed to use a credit card machine for an hour until they gave up and brought him to a bank and asked him to withdraw cash from an ATM to pay, according to the source. The ATM they brought him to had a limit too low and the bank was closed.

When he returned, a new officer brought a new credit card machine that worked, the source added.

Now by and large, I am a rule follower. And I understand and respect that when we travel, we are guests in someone else's home. I also understand that many of my European colleagues have one mode of behavior at home, and a different one when abroad - as do we all, I suspect. 

So we've all learned something... maybe... 

We will likely never fully know the nuance or even letter of the law of ever country we may visit, but when it comes to watches, probably best to simply wear a Swatch and avoid the headaches.

Enjoy your watches...at home ; )

Family Business

The word came down from LVMH HQ that Frédéric Arnault was now in charge of all things watches within the group. And with all due respect to Hodinkee (and if the comment section is anything to go by, I am not alone in my feelings), Mr. Anault's mercurial rise within the ranks of LVMH's watch division seems unlikely to happen anywhere else in Watch Town. The tone of the coverage from the 'dink was bordering on sycophantic. And not for nothing, it is understood that LVMH has invested in Hodinkee.

Family Business

It is not lost on anyone in the watch business that many of the most successful brands are businesses that have been started and run by individual families. Over time, several family owned brands made the decision to bring in outside talent to manage their brands. The recent departure of Mr. B at Audemars Piguet is a good example of this. AP could have engaged in the DNA Olympics, but opted for competent management that didn't happen to fall off the same family tree. 

It can also be said that there are family owned (and controlled) brands that have (by and large) remained in the family and gone from strength to strength - the name Stern still rings out loud and clear in Watch Town. But it is also important to understand that Thierry Stern grew up in the business, and spent years (not months) learning it. 

The Boss's Kid

I am no stranger to enjoying the largesse of perceived (and possibly real) nepotism. My father was a country club manager and as a teenager a job was arranged for me in the locker room of the Elyria Country Club where I spent my weekends and summers polishing members shoes and cleaning their golf clubs. I wasn't paid any more or less than my colleagues, but my hours were wildly elastic and absolutely to the benefit of my ability to go play in soccer games that my faither was coaching. I was not quite made the CEO of a watch brand, but I suspect the impact of nepotism (both perceived and real) has on the people you work with is a pretty universal and cross cultural one. You will always be judged with more than a soupçon of doubt.

Now it is safe to say that Mr. Arnault did not grow up in the watch business. And that is not necessarily a disqualifying factor. Several leaders in Watch Town came through different channels. But invariably, these folks had other experience in other industries. Mr. Arnault's CV prior to joining Tag Heuer was a little thin. His age at that time was in question by many. For me, in hindsight, I would not point a finger at age, but rather a lack of experience. We fast forward now some several years later, and Mr. Arnault certainly has some experience under his belt (both business and life). But to say that he single handedly made Tag Heuer a success is myopic (sorry Hodinkee). A lot of time and effort from a LOT of people before Mr. Arnault arrived paved the way for the path that Tag was and continues to be on. But as I have learned over more than 20 years in Watch Town, it is more often than not the family heir that receives the laurels as the last person standing.

Reality Check 

Regardless of what watch fans, the business world, or we members of the Fourth and Fifth Estate think and claim to be expert on, there is one simple, plain reality - LVMH is an extremely large, and by all accounts extremely successful juggernaut in the luxury business world. And with all due respect to all sides, it is a business that is essentially owned by the Arnault family. And to put it even more bluntly - Hublot, Tag Heuer, and Zenith were not exactly robust brands on their own. They needed (and still need) the group to support them, there is really no denying it. 

And One Last Bowl of Truth Soup

It is easy to be earnest and nostalgic about brands. It is even easier to shout that "I could do it better!" Watch fans are not entirely unlike fans of professional sports teams - we are a somewhat obsessive, overly opinionated lot that are convinced that if we were given the keys to the castle and a seat behind the big mahogany desk we would somehow know better and be hugely successful. And that just isn't true.

I think Mr. Arnault deserves the opportunity to prove himself now that he has landed in the hot seat. But to the historical revisionists out there, let's not forget that Tag's success is currently more down to the efforts put in prior. It doesn't mean Tag won't continue to prosper, but let's be real about assigning credit when we're handing out the roses ; )

The Gardner Museum Meets Audemars Piguet... Sorta'

"Four guys walk into the Audemars Piguet Boutique..."

No, gentle reader, this is not the start of a joke.

Yesterday afternoon four people entered the Boston Audemars Piguet Boutique on Boylston Street, one allegedly (per some news reports) with a gun, the others additionally armed with sledgehammers and proceeded to smash the display cases before making off with at least one (according to a security staff member) if not more APs. Thankfully, nobody was physically hurt.

James Cullity News 

@JCullityNews

And here's where it gets interesting. For those of you unfamiliar, that portion of Boylston street is one-way, at times divided into two separate sections, littered with traffic lights, a bike lane and a lot of absent minded tourists and locals with a propensity for crossing the street without really paying attention. Long story short, traffic there is a bitch. While there are boutiques, shops, and hotels on one side of the street, the other side is the Public Garden and Boston Common, rife with tourists this time of year. 

James Cullity News 

@JCullityNews

Three suspects were arrested when their car was stopped a little less than 2 blocks from the crime scene. The fourth was the driver of one of the cars who fled on foot, heading away from Boylston towards Stuart Street. He is still, to use the parlance, at large. One AP watch apparently in the box (if anyone can explain that one to me, I am all ears) was recovered from one of the cars.

While AP is name-checked in several songs from Beyonce's Upgrade U to Lil Wayne's “Marvin’s Room (Freestyle)”, it is perhaps ironic that the haul probably would not have netted as much as the robbers would have hoped for, both monetarily and status wise. As Royal Oaks are pretty thin on the ground, it is likely that the watches taken were from the less sexy, less desirable collections. The robbers can thank outgoing CEO François-Henry Bennahmias for that last bit of ironic insult to injury. Maybe it was a good thing that he essentially made AP solely about the Royal Oak, and conveniently those are pretty much never available. Looking to offload a Code 11:59? Bonne chance...

Now to be clear, I do not intend to make light of the trauma that the staff at the AP boutique experienced, thankfully nobody was hurt. And moreover, full marks to the Boston PD, that was quite a collar in record time. But in a city where over three decades later, they still haven't solved the Isabella Stewart Gardner Museum, the AP Boutique Caper of 2023 seems more of a misadventure than anything else, and underscores that while there are several movies with successful heists and car getaways set in downtown Boston, they are just that - movies. 

Just Because You Can, Doesn't Mean You Should...

With the announcement of the new and future CEO of Audemars Piguet, the brain trust in Le Brassus decided that it was the ideal time to drop another Marvel Universe flight of fancy. This one bearing the likeness of erstwhile high school student / Daily Bugle photographer Spider-Man.

Courtesy of Audemars Piguet

So I find myself conflicted. On the one hand, I am super-excited to see what path Audemars Piguet will take with a new CEO. On the other hand, I am less-than-impressed by the grab for the easy lay-up. 

I like to think, that at heart, I am neither elitist, or even a snob when it comes to watches. With that being said, a brand that will endure must stand for something beyond instant gratification. And truth be told, the Marvel Universe partnership is not a long-term strategy. 

Audemars Piguet will be finding itself at a crossroads in the coming months. Things are good at the moment, but for better or worse, AP is going to need a bit more than the Royal Oak to continue to grow. After all, the company is AP, not RO.

Nobody Saw This One Coming...

The newly appointed CEO of Audemars Piguet is Ilaria Resta -

Courtesy of Audemars Piguet

While all of the "Man-Children" are moaning and groaning on forums and semi-anonymously posting misogynistic quips from the comfort of their man-caves on other blogs and online outlets, I thought I might first say bravo Audemars Piguet for taking a different solution, by not only hiring a woman as CEO of one of the big brands but bringing in someone from outside of Watch Town.

And although (if the commentary online is anything to go by) I might be in the minority here, I think that the pros of hiring an outsider far outweigh the cons.

PROS:

• Fresh Eyes - Ms. Resta is not bringing a lot of baggage from Watch Town with her. All too often someone comes in from another brand with a grudge, or a point to prove. The results, inevitably, are poor. 
• Ego Check - Unlike pretty much every new big boss in Watch Town, she will hopefully not feel the need talk about her bona-fides on a daily basis.
• No Sacred Cows - Ms. Resta will have the objectivity to look clearly and plainly at the business of Audemars Piguet. 
• Reality Check - I sincerely doubt there will be another potential HR / PR fiasco like the hare brained commando training that years later remains hard to believe it really happened, let alone anyone with any common sense allowed it to happen.

So I am hopeful that this will lead to a reexamination of how watch brands can (and should) be managed. Time will tell.

But I would be remiss if I did not point out what I feel is a bigger concern, and that is the lack of leadership shown by the current CEO in working to identify and develop a potential successor. Sorry if that sounds harsh, but while Mr. B was never one to hide his light under a bushel, it was often presented as if he was Audemars Piguet. And some of that failure belongs with the board of AP as well. AP is a family brand, and owing to that simple truth, they should have invested more into internal development within their brand, and should have made that a priority for their CEO. 

Ultimately, a brand is not just the watch (despite the killing off of nearly everything, save the Royal Oak). It is not just the sponsor partners. It is the people who work for and with it. Audemars Piguet could have - and should have done better with this.

With all that said, we wish Ms. Resta God's Speed and smooth sailing as she takes the helm. And I have a feeling that her lack of Watch Town bias, and her fresh eyes will further reinvigorate Audemars Piguet.

 

Who is Ginny Wright?

If I were a betting man? 

The next CEO of Audemars Piguet. 

Courtesy of NBC and the worldwide infoweb

To quote that other great commentator on the watch business, Flavor Flav, this is "Straight up on the Columbo Tip". As I was enjoying my post work bubble bath, and perusing the latest copy of Monocle (thanks again Mr. Brule), I came upon a rather curious piece on Ms. Wright. Ostensibly about leadership and blah, blah, blah. But this was a bit different. It was clear that this was definitely a coordinated effort to get her play in an international publication of record, and frankly, you can't do better than Monocle. The interview occupies two full pages, with a full page photo that I am assuming was styled by Monocle. The leather "parachute trousers" were an interesting choice, but what was more telling was the depth and breadth of the interview. I don't want to play spoiler, but the timing of this article hitting couldn't have been accidental. My suspicion is that some announcement is imminent, possibly the third or fourth day of Watches and Wonders. Swatch group had the Mission to Cash launch last year, this might be just the headline grabber for a certain "small" family brand. 

Monocle has a presence in Switzerland - Zurich if I am not mistaken. And again, the timing of this article and the prominence of its placing is a bit too much of a co-wink-ee-dink.

With that said, I could be wrong...

In fairness, despite tireless efforts to get so much as a press release from the great and good in  Le Brassus, just to simply get on the press release distribution list, they have treated me with the same disdain that might be meted out for an engorged tick suckling on their ankle. So suffice it to say, I have no inside track on info. here.

But if I am right, then the press accreditation czars at Watches and Wonders can SUCK IT!

And The Next Person To Take The Helm At Audemars Piguet Is...

Gotcha'!

But while we're playing Watch Town's version of "The Masked Singer", I thought it wouldn't be such a crazy idea to float some ideas as to who might be next?

I can't really claim to know much about the machinations at AP. But this is a new reality for what is still at its heart, a private family company - suddenly everyone is up in their business... so let's have a look!

But before we go forward, let's hop into the Wayback Machine to those thrilling days of yesteryear - 1987 to be specific. For those of you around at that point, can you remember where you were and what you were doing? I had just received $50 and a firm handshake from my father, who in turn informed me that Chicago was "that way, and Oregon a bit further down the road. If you hit the Pacific, you've gone too far." Needless to say, that seems like a million years ago. Curious to relate, 1987 was another significant year for someone else in the watch world, one Georges-Henri Meylan.

Now I realize for the younger kids out there that what I am about to say is going to trip you out, but a lot of the real happenings at AP started under the guidance of Mr. Meylan. AP was a WHOLE different type of company when he took over the leadership, having a not insubstantial stake in another little brand - Jaeger-LeCoultre. By organizing the sale of it, he brought in much needed funds that helped ensure the stability of AP and also helped ensure its growth. He also was instrumental in helping guide the career and development of the current CEO. This is not to say that the current incumbent has not overseen some phenomenal growth (not to mention a truly staggering list of professional golf playing "chums of the brand"), but is to say that there were already some seismic shifts underway when Mr. Meylan abandoned the field only to pop up later with a whole new jam.

But back to AP...

What I continue to be confounded by is what seems to be the lack of a clear succession plan.  On the one hand, the argument could be made that as a private company, AP is not going to show all their cards. Well, that's as maybe, but I think there's a wee bit more going on here. What is also interesting is (and this may just be little me thinking this), is that (to the best of my knowledge) Mr. Bennahmias has not really come out with his own suggestions as to who should or could replace him from within the ranks. And as someone who is a director in his "day job" (albeit for a much less glamorous organization), I find this disappointing. I subscribe to the belief that a large part of your responsibilities as a manager is to ensure that your team grows, develops, and if you did your job well, at least one of your team will be ready to replace you. Why? For the very simple fact that nothing is permanent. Every job out there is a "temp" job. We all leave our posts eventually, one way or the other. Ideally not carried out on a stretcher feet first, but that has also been known to happen in Watch Town.

So then, who would I put my marker on to take over from the current CEO? It's a curious question. It does not help that this is perhaps one of the most talked about and drawn out talent searches for a new CEO since HBO's Succession -

Courtesy of HBO

But if I fancied a flutter, I might place a chip next to the former CEO of Carl F. Bucherer. Sascha Moeri left his post about 7 or 8 months ago. Assuming that there was a non-compete clause in his contract, it would likely be up within a year. He did well with CFB, but more importantly he has a lot of experience working with a similar set-up in terms of a privately held organization.  Now I have met Mr. Moeri a grand total of ONE time, and that was back in 2012 in Las Vegas. So truth be told, this is just me looking at the tea leaves that represent the pool of potential new CEOs out there and trying to assess who might be a "fit". 

The internal options for AP are somewhat limited, at least if we simply tried to look at the roster to see who might be a likely fit. Although I think it would be exciting if one of the new regional CEOs were brought back to the mother ship to take the helm, the US CEO is still quite new both to AP and to the watch business in general, so I don't suspect it will go that way. 

It cannot be denied that under Mr. Bennahmias AP has grown significantly as a brand. But for many people out there (both enthusiasts and those of us in the Fourth and Fifth Estates) it also feels as if it has somewhat coalesced into a large brand with, essentially, one collection - The Royal Oak. But that will clearly be a challenge for the next CEO, whoever that will be. 

So although I love a scoop and it's exciting to sign off with "You heard it here first!", the truth is that we will all have to wait and see what color the smoke is coming out of the chimney at AP.

Until then - enjoy your watches!

Why You Should LOVE The BR 05

Black Steel & Gold -

Courtesy of Bell & Ross

Bell & Ross came out with the BR 05 some time ago, and there have been several iterations. With that said, the one that truly stands out for me is the Black Steel & Gold model.

Courtesy of Bell & Ross

Way back at the turn of the century, Hublot was sorta' cool, somewhat under the radar, and not so (insert word that describes your feelings here). I sold Hublots at Tourneau and I have to say that I really dug them. And at that time, I sold something like 5 of them in the month of January - which was a lot back then for our little pocket of a store.

What was cool was that it was gold, possibly steel and gold, and an integral rubber strap that smelled pleasantly of vanilla. Nowadays that doesn't seem like such a big deal, every brand is trying to slap something together. But in truth from the mighty Audemars Piguet on down the line, none have really done it justice. Then Bell & Ross dropped their take on a steel/gold case with integrated rubber strap, and in doing so, they dropped the mic.

Now if you absolutely must go "full metal", B&R has you covered -

Courtesy of Bell & Ross

But for me, it's gotta' be the rubber strap. As I get ready to hand over the keys to Tempus Fugit, I am struck more and more by visceral memories. I know that sounds somewhat counter intuitive to the practice of writing about inanimate objects. But the BR 05 Steel & Gold with the rubber strap takes me back 19 years ago, when I would work all day managing a Starbucks, then dash to Tourneau and slip into my suit. I didn't need the money, but I loved hanging out and talking about watches - basically getting paid to talk about my hobby. The BR 05 brings back that feeling, that love of something special and out of the ordinary.

Should you be feeling that romantic pull as well, here are the pertinents -

Movement: 

calibre BR-CAL.321. Automatic mechanical.

Functions: 

hours, minutes, seconds and date.

Case: 

40 mm in width. 18 ct rose gold and satin-finished and polished steel. Screw-down crown. Sapphire case-back with a 18 ct rose gold plated 360° oscillating weight.

Dial: 

black sunray. Rose gold gilded applique numerals and indices filled with Super-LumiNova®. 18 k rose gold gilded skeletonised hour and minute hands filled with Super-LumiNova®.

Crystal: 

sapphire with anti-reflective coating.

Water-resistance: 

100 metres.

Strap: 

black rubber or bi-material 18 k rose gold and satin-finished and polished steel.

Buckle: 

folding. Satin-finished and polished steel.

The Transfer Window Will Apparently Open

At Audemars Piguet...

If anything could completely eclipse the news of the management buyout of GP/UN from Kering in the collective consciousness of Watch Town, it was the news put forward by Miss Tweed regarding the rumored potential departure of the current CEO of Audemars Piguet, François-Henry Bennahmias. 

While it is safe to say that nothing lasts forever, the news of a potential, semi-imminent departure of a CEO without a clearly defined succession plan actually raises far more questions than it answers. Miss Tweed's article indicated that an outside (located outside of Switzerland) search firm might be used to try and find the right person to take over. It was also hinted that there would be no small amount of jockeying for position internally. In other words, to paraphrase - there is chaos under heaven, and the situation is excellent!

Now, with all due respect to the brand, and Mr. Bennahmias's achievements, the one key question it begs is the one nobody seems to be asking - Why now?

If I have understood correctly he is still pretty young. It also seems somewhat odd that there appears to be no clear succession plan in place. If you're planning on leaving, wouldn't you have identified some folks with the talent and temperament to take over? Moreover, a succession plan is (even at a neighborhood 7-Eleven) a fairly standard business practice in the infamous "In case I get hit by a bus..." scenario. It would not be unreasonable to assume that in the 10 years or so he has been in charge, he might have identified a few people to mentor. Which again begs the question - why an outside search firm?  Audemars Piguet has more than enough money, resources and people to have developed several reasonable options in the past 10 years. The real question is, did they?

Not a sausage from Le Brassus where one outlet reported that their request for comment received a summary no comment, other than that AP "would not comment on rumors".

So we shall wait, and we shall see...

The Transfer Window Opens - And the Sapphire Crystal Ceiling is Broken Again

At Audemars Piguet. 

So curious to relate, Tempus Fugit has been in "business" for over ten years. And even more curious to relate, for over ten years, twice each year, I have reached out to AP requesting press releases, etc.

And, for all that time, I have yet to be added to the press group, so I had to pick this info. up somewhere else.

News indirectly reached the North Shore offices of Tempus Fugit that Audemars Piguet has made (in all fairness) a somewhat unusual pick to head their North American offices. Ginny Wright has been named CEO of Audemars Piguet North America. 

[+] GETTY IMAGES FOR RALPH LAUREN POLO RED RUSH

Ms. Wright comes to AP with a very solid resume, most recently as president of Kiehl’s Since 1851.  

She has held various senior positions with Ralph Lauren Fragrances and  retail marketing for Lancôme.

As I said, somewhat unusual, but maybe a very good one for a few reasons:

1. I've said it before, and I'll say it again - the watch business is by and large a sausage-fest. It is fantastic to see more women moving into more senior roles. As odd as this will sound to several of my male colleagues in the Fourth and Fifth Estate, being male (and more than infrequently white and European) are not necessarily predictive of any ability to actually run a watch brand or it's subsidiary office.

2.  Elite watch brands are, truthfully, more than a wee bit myopic. The tendency is to presume that only "watch people" can run a watch brand - particularly one as esoteric as Audemars Piguet. And the short tenure of the most recent incumbent, Patrick Ottomani who came over from Berluti after more than a decade there could be used to make that argument. But then again, I have a different take.

And here is where we turn to Moneyball. I've said it before, and I will say it again - Watch Town suffers from a true misunderstanding as to where talent comes from, or to quote Peter Brand (as played by Jonah Hill) in the film adaptation of the book:

Peter Brand:
There is an epidemic failure within the game to understand what is really happening. And this leads people who run Major League Baseball teams to misjudge their players and mismanage their teams. I apologize.

Billy Beane:
Go on.

Peter Brand:
Okay. People who run ball clubs, they think in terms of buying players. Your goal shouldn't be to buy players, your goal should be to buy wins. And in order to buy wins, you need to buy runs. You're trying to replace Johnny Damon. The Boston Red Sox see Johnny Damon and they see a star who's worth seven and half million dollars a year. When I see Johnny Damon, what I see is... is... an imperfect understanding of where runs come from. The guy's got a great glove. He's a decent leadoff hitter. He can steal bases. But is he worth the seven and half million dollars a year that the Boston Red Sox are paying him? No. No. Baseball thinking is medieval. They are asking all the wrong questions. And if I say it to anybody, I'm-I'm ostracized. I'm-I'm-I'm a leper. So that's why I'm-I'm cagey about this with you. That's why I... I respect you, Mr. Beane, and if you want full disclosure, I think it's a good thing that you got Damon off your payroll. I think it opens up all kinds of interesting possibilities.

Or maybe more plainly put by Michael Lewis in his book Moneyball, which the film was based upon:

“The inability to envision a certain kind of person doing a certain kind of thing because you've never seen someone who looks like him do it before is not just a vice. It's a luxury. What begins as a failure of the imagination ends as a market inefficiency: when you rule out an entire class of people from doing a job simply by their appearance, you are less likely to find the best person for the job.” 
― Michael Lewis, Moneyball: The Art of Winning an Unfair Game

The thing is, the watch business is more than a bit jacked-up at the moment. And it should be painfully clear that a resume with shit-tons of watch brand experience is no substitute for an actual ability and talent for what the job that running a major brand in a large market ACTUALLY requires. So my gut is telling me that maybe this is going to prove to be a fairly shrewd choice, and my hope is that it will encourage other shot callers in Watch Town to start looking OUTSIDE of the watch box.

The Laureato 42

From Girard-Perregaux -

Courtesy of Girard-Perregaux

I appreciate that there is a tribe out there that believes quite flatly that if you're not wearing a Royal Oak or a Nautilus, you are a pretender.

So while it is true that the Royal Oak came first, and was designed by Gerald Genta, I think in many ways the story of the Girard-Perregaux Laureato has a bit more of an intriguing past. If my understanding is correct, the original was in fact - quartz, as GP was one of the few Swiss brands to actually take the new technology seriously. It was also not the result of a famous designer but rather, the work of a (as far as anyone knows) anonymous Milan (that's Italy, not Ohio) based architect.  

Unfortunately, not unlike Girard-Perregaux itself, the Laureato has gone through more than a few twists and turns, some more unfortunate than others.  But it does seem that finally, just maybe, GP has settled on a design vocabulary for this collection, one that they will follow for more than just the next "season" or until the next CEO moves in. Here's hoping!

The pertinents for this one are as follows -

CASE
Material: Steel
Diameter: 42,00 mm
Height: 10.88 mm
Case-back: Sapphire crystal
Dial: Blue with "Clou de Paris" pattern
Water resistance: 10 ATM

MOVEMENT
CALIBRE
Number: GP01800-0013
Type: Self-winding mechanical movement
Diameter: 30.00 mm (13 1/4''')
Height: 3.97 mm
Frequency: 28,800 Vib/h – (4 Hz)
Number of components: 191
Jewels: 28
Oscillating weight: Steel
Finishes: Côtes de Genève, circular graining and bevelling
Power reserve: Min. 54 hours
FUNCTIONS
Hours, minutes, centre seconds, date.

BRACELET
Size: 27.00 / 18.00 mm
Material: Steel
Buckle: Triple folding
Buckle material: Steel

What I've Learned - The 10th Anniversary Edition

So irony of ironies, the 10th Anniversary of Tempus Fugit arrived while I was busy writing grant proposals and ironing out budgeting issues at my day job! But I have had some time to think about this one, and as the odometer has officially flipped on ten years, here we go -

What I've Learned Covering the Watch Business:

The Real Meaning of Friend of the BRAND -
There really is no such thing. You might be a friend of a sales rep, you might be a friend of the marketing folks, but there is no relationship with the brand other than the one you ascribe in your own mind. Friend of the Brand gets bandied around by pr agency representatives as a palliative to make you not feel like such a loser while you are forced to wait beyond your appointment time in the reception area while someone from one of the bigger outlets is enjoying sushi with the CEO and head of PR in the big room. Don't get me wrong, I have made some very good friends in the business who I am still in touch with after they've moved on to other brands and even to other industries. But you will learn, in time, that the majority of relationships you have with brands are transactional. Keep that in mind, and you'll never be disappointed.

The REVOLUTION is, for the most part, over -
Ultimately, there is not a lot left to be discovered. Let me re-phrase that so I don't sound like such a "Henki-Raincloud". What I mean is that the days of wonder and amazement have probably gone the way of the rock-star CEO. There was only one Ludwig Oechslin, and without Rolf Schnyder to partner with him and coax out the Freak, or the Trilogy of Time he is the part owner of ochs und junior.  Nothing wrong with that, but while it would be wonderful to have him come back with another extreme complication, it does not seem highly likely. The Corum Bubble has not necessarily burst, but a lot of the air has been let out of it. The Big Bang has seen its day, and AP can only make so many reiterations of the Royal Oak.


A Cult of Personality might work in North Korea, but not so much in the watch business -
On the real side, Blancpain could not have been done by anyone other than Biver. And in fairness, Hublot went as far as he could carry it on his back. But even the sheer force of will that Biver brought to bear on Zenith could not really turn the tide. Inevitably, in the words of that other great commentator on watches, Chuck Yeager as played by Sam Shepard in The Right Stuff -
"Sometimes you get a pooch that can't be screwed, ya know?"

I guess my point is this - you don't really see Thierry Stern or Jean-Frederic Dufour mugging with "celebrity chums" at movie premieres and red velvet rope events. For a brand to really truly endure, it has to be more than just the face of the current boss. Patek and Rolex will continue to be here, continue to set the tone for everyone else. Zenith, among others, needs to resolve its revolving identity crisis, make a decision about who and what they are, and stick with it for more than 6 months at a time.

"My Friend" is still not so subtle code for "You Asshole" -
I still stand by this, and after more than 10 years my belief in this reality is stronger than ever.

Sincere gratitude is scarcer than a NIB vintage Daytona -
1. If you are writing for pay? Make sure you get paid.
2. If you are writing for personal pleasure and satisfaction? Then only you can provide that for yourself.
3. If you are writing with the hopes of praise and thanks? Refer back to points 1 and 2 or cease and desist.

Rich, famous, important people are a lot less interesting when you finally meet them -

Little known bit of Henki lore, my father was a country club manager. Translation? He worked so that the more well-heeled could play. I worked in the locker room of the club, my first job working as a shoe shine guy. Believe it or not, in the 70s and 80s, there was an actual industry based upon shining the shoes of rich people while they walked around a park-like environment, drinking beer and whacking small white balls. Rich people, famous people? They are people. George Steinbrenner was a titan of industry and master manipulator. I can tell you from personal experience, his shoes smelled just as awful as those worn by an orthodontist, dermatologist or mid-level auto executive's. The one thing all four of these guys had in common? They were shitty tippers.

I have met some of the big swinging dicks of the industry. It is all too often underwhelming.

When anyone tells you how amazing you are and how "just as soon as you take advertising, we're in!" this person should be taken with about as much seriousness as you would take the drunk person asking for $3 on the commuter train so that they can "buy a healthy snack" -
We all say a lot of highly dubious stuff when we've been drinking. That's why your wife/husband/partner learns over the years to apply the bullshit filter. Make sure you do the same, it will spare you a fair amount of frustration and disappointment.

When you have made it clear by your actions and writing that you are predisposed to write nice things about a brand, and said brand treats you with a fair amount of disdain? Take it on the heel and toe. Love needs to be reciprocal -

I find it ironic looking back that the first brand I ever wrote about here was NOMOS, and that last year they invited me on a press trip, assured me it was arranged, and then when I wrote to follow-up 3 weeks prior to the travel date, I was informed that I was "uninvited", no explanation, and some bullshit about the trip being "overbooked", which was false as at least one invitee had declined the invitation and I knew that they were scrambling to fill the space - apparently (and specifically) not with me ; )
Well then, NOMOS, fuck you very much.

Brands are made up of people. The brand does not exist without the people. If a brand has good people - I will do ALL that I can. If a brand has people that just don't care? Why should I care about them?

I get the odd comment - "I thought you were a fan of Brand A". Well, I have come to learn that brands are made of people. It's not as if the founders of Girard-Perregaux are going to make a special appearance in the physical world to tour me around the factory. The brand? The brand is the people who work there. So put it in another context - do you like spending time with people who treat you poorly? Of course you don't. Molly Ringwald's entire career was based on this notion. A watch is an inanimate object. It can't speak for itself. A brand is not simply products. A brand is the people who make those products, and share that message.

Brand ambassadors are about as worthwhile as what you wipe your backside with -

There is a reason why Hitler, Stalin and Pol Pot are not mentioned as customers of Brand X.
Churchill, Napoleon, Lindbergh? All flawed, all now "ambassadors" from the great beyond. Well, they won, didn't they? They were all flawed, all had baggage. But they are a whole lot more palatable. Question - do you think that the Mario Batali Ernst Benz is a big seller right now?
Sorry, too soon?

A brand ambassador will not be there with you when they turn out the lights and escort you out of your now former office. A former brand that was "ALL IN" can attest to that.

Remember everyone you meet when times are good. You will see them again on your way back down -
It is inevitable to fail. The trick is not to make a habit of it. More importantly? Don't be a jackass when times are good. Sooner or later, it is likely you will fail. By and large, most of us want to help people and offer our support. That is, of course, presuming that person behaved, well, like a person when times were good ; )

Don't fake the funk -
Because in the immortal words of that other great commentator on the watch industry Daryl Dawkins:
“When everything is said and done there is nothing left to do or say.”