Baumes Away!

Word reached the North Shore offices of Henki Time that speculation was no longer necessary. Richemont has pulled the trigger and an agreement has been reached with the Damiani Group for them to take control of Baume & Mercier, and off of the Richemont books.

Without going too much into the heroes and zeros, I'd like to really address a bigger issue that a few other outlets have hinted at, but nobody has really been willing to address - the lack of understanding of identity that many brands suffer from. And those brands in particular? They tend to reside in larger (and sometimes smaller) groups.

Now if we stick strictly with Baume & Mercier, in truth? It's a brand that with even just a little bit more attention from the Richemont leadership, and a bit more understanding about where they lived within Watch Town writ large? Well they could have made a LOT more money and not be an asset needing to be sold. But a big part of that has to do with what I constantly share with the brands I consult for - you must know who you are, you must be comfortable in your own skin, and you MUST PUNCH YOUR WEIGHT.

Let's look at some other examples. I realize all of the other pundits are talking about Zenith. But in truth that is a bit to obvious. We'll come back to it. Let's talk about my old frenimy - Mido. Mido is a brand that can't seem to decide who they are. Are they retro - with the heritage Commanders and Ocean Stars. But then again - countless numbers of SKUs. And here in the US, opening and closing US offices, and going back and forth with concepts. In truth? The majority of what Mido cranks out could really have any brand's name on it. There is very little to distinguish it. Now, in fairness, I have to assume that from their shared administration offices in Le Locle that they make enough money that for better or worse, Hayek the Younger, and Hayek the Even Younger are willing to swing along.

Staying with the Swatch group, let's consider a brand that has an identity that gives it some flexibility, but also has the ability to know itself - Longines. Longines is, if we're honest, what Baume & Mercier should have always focused on being. A step or two above Tissot, but absolutely priced in real world economics. In the real world, a $1,000 - $2,000 watch purchase is going to be a once in a lifetime purchase for most people. And if I'm being honest? That is really what attracted me to watches in the first place. It wasn't about the brand, or how many I could / would get to have. It was about a nice thing that was with you every day. Something that was truly fine, that you had always wanted.

But I digress...

Let's go back to Le Locle - and Zenith. Zenith is a brand that I admire a great deal, and a brand that seems to be cursed to poor stewardship. It has been traded somewhat like a baseball card that each person who acquires it hopes will somehow pivot and make them millionaires. The reality is not nearly so rosy. 

Zenith has had the misfortune to land in the hands of a succession of wannabe operators who it turns out were just marking time until the next warm body came along. And with the stewardship of Arnault, Arnault the Younger, and Arnault the Even Younger nothing seems likely to change the trajectory of Zenith. The piece none of us pundits really know is whether or not Zenith is profitable, breaking even, or losing money. My sense is that Zenith has become a sunk cost trap for LVMH. And as with so many people who are successful with many things, it is hard to see, acknowledge, and accept failure when it finally rears it's not-so-attractive head. And Zenith and LVMH's inability to effectively address it is Watch Town's Dunning Kruger Effect writ large.

Now unlike the Watch Bros who apparently know more than anyone else, I am not going to presume that I would know how to fix Zenith. To quote that great movie about the watch business - The Sound of Music: "How do you solve a problem like Zenith?"

So what have we learned from all this? Sadly - probably not a damned thing ; )

Watch Town has a painfully short memory. We forget that once upon a time, apart from a handful of successes, the watch business was a grind. The idea of a Rockstar Watch Maker or CEO was ludicrous. We forget that watch making in Switzerland started out as a way for farmers to make money during the winter when they couldn't farm. And I am a bit of a traditionalist, but perhaps a bit of humility coupled with fiscal responsibility wouldn't be too far misplaced?

Richemont's sale of Baume & Mercier is perhaps the wisest decision they have made for some time. Selling a brand to another suitor who will hopefully take it further than you did is not really a failure, it shows the sort of wisdom that is in short supply in Watch Town. But maybe this will be the first shift towards common sense that will hopefully start a trend which will help some of these red-headed step-child brands not only survive, but one day thrive.

But as with anything in Watch Town, we will wait, and we will see.

The Clifton Baumatic 10519

From Baume & Mercier -

Courtesy of Baume & Mercier

Another piece from Baume & Mercier that has caught my attention, this is another iteration of the Baumatic in steel with gold capped bezel and crown.


The Baumatic in many ways has helped solidify the vocabulary of Baume & Mercier, and it is nice to see such a thoughtful offering.  The movement is, in many ways, the big attraction - the Baumatic BM13-1975A as it is a manufacture (i.e. from within the talents of the Richemont group) and offers 5 days of power reserve.

Best in Show at Watches & Wonders -

Goes to Baume & Mercier's Hampton Automatic Big Date / Dual Time -

Courtesy of Baume & Mercier

Watches & Wonders often rapidly devolves into a popularity contest.  Sure Panerai, Vacheron and Jeager are cool and exciting, but for me the real star of this year's presentations was a new take on the Hampton from Baume & Mercier.

Baume & Mercier had been in the wilderness for awhile.  But with the previously released Baumatic, and now the new self-winding Hamptons, I think there is a real opportunity for Baume & Mercier to step out of the shadows of it's more popular, flashy brothers and sisters and to finally be appreciated for what it is.  

Courtesy of Baume & Mercie

I love the shape, I love the size, and as I am now in the beginning chapters of my second half century I love the realistic legibility of the dial and its various functions.  Yes, I do love little details like GMTs and dates, but they inevitably are writ small on most dials or require a certain amount of patience that I, frankly don't always posses.  And as my optometrist will tell you, my vision is not exactly 20/20.  The big date is extremely welcome, and the day/night indicator on the dual time register is a wonderful piece of whimsy that will also ensure you don't inadvertently jack-up the date changing mechanism should you need to re-set the watch after not wearing it for awhile.

And while I was once in my 30s, and I weighed less, and was not quite so grey on the sides, I hold no fantasies about getting behind the wheel of a Formula 1 car, diving for sunken treasure, or punching out a Nazi on Omaha Beach.  I want a watch that speaks to me, not to some goofy vision of what the marketing department tells me I am.  

And ultimately, what we like and don't like should be, somehow, personal, right?  If I were invited to Geneva for the big show, and given a blank check?  This is the one I'd put my marker on.

Here are the pertinents -

HAMPTON REFERENCE
 M0A10523
MOVEMENT
  Automatic (Soprod TT651)
  Bridge with circular-grained decor
  Sandblasted plate with snailed decor
  Oscillating weight adorned with “Côtes de      
          Genève” and snailed decors
  Power reserve: 42 hours
  Jewels: 21
  Frequency: 4Hz (28’800 vph)
  Thickness: 5.25 mm
FUNCTIONS
  H/M/S, grande date, second fuseau,  
          indicateur jour-nuit
CASE
  Rectangular
  Size: 48 x 31 mm
  Thickness: 10.8 mm
  Polished stainless steel
  Scratch-resistant curved sapphire crystal 
  Open case back secured with 4 screws*
DIAL
  Opaline and grained silver-colored
  Riveted black ruthenium Arabic numerals   
          and indexes 
  Black ruthenium sword-shaped hands
  Black and grey minute-track
STRAP
  Interchangeable black all square scales  
          alligator with grey stitching
  System of bars with very reliable lug that   
          allows to change the strap without tools
CLASP
  Triple folding clasp with security push- 
          pieces 
WATER-RESISTANT
  5 ATM (approx. 50m)

Baume & Mercier and What Could Still be

Courtesy of Baume & Mercier

There are some brands out there that just seem to get lost in the shuffle.  I was trying to explain the concept of luxury groups to someone who is really not into watches at all.  This conversation took place while driving past one of America's innumerable "Auto Miles" where row upon row of auto dealers live and work, cheek to jowl.  

And we had a perfect example passing by the local Chrysler, Dodge, Jeep, RAM and... Fiat dealership. It becomes a bit more confusing were you to add some of the other brands owned by the same parent company - Lancia, Maserati, Alfa Romeo...

Well, you get the idea.

Richemont, for all of their swagger and flash are not enjoying the best of times in terms of watch sales.  Now while it has been reported that sales were up in the jewelry section, and a modest bump in watches, there are actually quite a few more pennies about to drop. 

Apart from Rolex and Patek, everyone else is, essentially, sucking a rather fuzzy lollipop.  

But let's get back to the main topic this evening, Baume & Mercier.  And not unlike that aforementioned Fiat Auto Group, while there are several horses in the stable, they are not all future Kentucky Derby winners.

As mentioned previously, the Fiat group has a lot of "work horses", and there are some who feel that Dodge should be sent to the knackers, but they have one race horse - Maserati.  Now curious to relate, all of the brands within the group are not trying to emulate Maserati.  In fact, each of the brands pretty much stays in their lane.  Also curious to relate?  Baume & Mercier had a very bad habit of trying to piss in the tall horological weeds with the other big dogs in the Richemont pack.  Now in fairness, that was under a previous regime.  But the point being, you have to punch your weight.   

Do you ever wonder why Mido doesn't come out with a tourbillon?  

Baume & Mercier has A LOT to offer.  A lot to offer at the right price point and positioning anyway.  There are a lot of people out there who walk into a jewelers without any blessed idea as to what to buy for themselves or as a gift for someone else.  Guess what they buy?  They might buy a Longines, they might buy a Baume & Mercier.  In fact, in speaking with a lot of retailers in North America, that is why Baume & Mercier was such a great seller for them.  It was the watch to sell when a "civilian" came in unsure of what to get.  Not too cheap, not too expensive, but just right.

That was long before the spin-off of Baume, before the identity crisis that is still roiling.
Baume & Mercier could still be something pretty special.  But it is going to take some time and some re-working of the brand and the brand's message.

But Baume & Mercier could knock it out of the park if they are willing to be who they are, and can stop trying to be who they are not.

I would buy this one in a heartbeat -

Courtesy of Baume & Mercier

The Hunger Games, Part the Second

I'm sure you've already read about it, but to confirm -
Georges Kern has "dropped his letter" at Richemont HQ.

Unlike many resignations and appointments, the news braking this Bastille Day has taken a lot of us by surprise, including me.  But when you spool it out and look at it in its (current) entirety, the pieces do fit together rather nicely.

Courtesy of tick-talk time

So let's start at the beginning with the announcement put out earlier today from (I suspect) a very harried PR department:

Richemont announces resignation of Head of Watchmaking, Marketing and Digital
 
14 July 2017

Richemont regrets to announce the resignation with immediate effect of Mr Georges Kern. Mr Kern was Head of Watchmaking, Marketing and Digital. He has stepped down from the Senior Executive Committee and the Group Management Committee and will no longer be standing for election to the Board of Directors of Compagnie Financière Richemont SA at the forthcoming annual general meeting of shareholders.

Commenting on Mr Kern's decision, Mr Johann Rupert, Chairman, said:

Quote
Georges has been offered an interesting opportunity to become an entrepreneur.
He has had a very successful career at IWC Schaffhausen and we wish him well.
Unquote

Richemont's watchmaking, marketing and digital activities will report to the Senior Executive Committee.

But there is, it would seem, another twist in the tale.  Later in the day it was intimated (albeit not by anyone willing to go officially on the record) that Mr. Kern would be taking control of another testosterone fueled brand, Breitling.  This reporting came from the folks at Le Temps.  Attempts to get either confirmation or denial from Mr. Kern were apparently unsuccessful as of this morning (Swiss time).

Okay, so that's the obviously knowable, but let's dig into the context.  Mr. Kern did a very good job with IWC, and I suspect that in the palace court that is Richemont HQ, there has been more than a little jockeying for position.  With the announcement of a "twin towers" approach which resulted in booting both Mr. Kern and Mr. Lambert upstairs into Richemont's newly re-jiggered corporate structure, it seemed that the one who could be the most Machiavellian would probably emerge as the CEO of the entire Richemont group.  And very often when you have two people who want the same thing, it can very rapidly become a war of attrition.

The other thing to consider is what Charles Horton Cooley termed the Looking Glass Self.  Essentially, that the way we view and value ourselves is, more often than not, a reflection of how we feel we are perceived by others.   When you have been at the forefront of a fairly successful brand, it can be a bit of a let-down to no longer be the face of that brand.   Being in charge of several brands gives you status for sure, but it is not nearly as sexy as the red carpet.  Breitling has historically been ready, willing and able to throw money around and pursue celebrity "chums".  And in fairness to Mr. Kern, he does posses a gift for the "grip and grin".

It is important to really understand that although this news is "breaking" for the rest of us, this was clearly put in motion some time ago.  From time to time impulsive decisions are made in the heat of passion, but I do not think this is one of those times.  This has clearly been building, and more than likely Mr. Kern was just looking for the best possible sortie (and that would be the French definition).

So if the reports are true, and Mr. Kern is on his way to Grenchen, then it marks an interesting step in his career.  As to the "entrepreneurial" aspect of this step, it is also unclear as to whether Mr. Kern raided his piggy bank or whether he was granted some equity in exchange for taking on the challenge.  

My only request would be that he remove the fighter jet from the Grenchen roundabout just off the highway... it's an eyesore.

 

Millennialitis - Or Why It's Okay To Be Just Right

Baume & Mercier announced their new sports watch - the Clifton Club.

Courtesy of Rod Hess

I was not there to see it in person, but the ever-intrepid Rod Hess was there on the scene and was kind enough to share some his images with me. 

So I was struck by a few things - first the name: Club.  This is meant to be a designation for the entry level to Baume & Mercier.  Curious to relate that this was the same naming convention used by a certain watch brand in Germany a few years ago...
Secondly, the very clear indication that once again Baume & Mercier are not understanding who they are, and more importantly who their customers are.

Because, let's be honest, haven't you been searching endlessly for the ideal watch to wear while skateboarding to your important business meeting?

Courtesy of Baume & Mercier

It would seem that the brain trust at Baume & Mercier have a bad case of Millenialitis.  Essentially the unshakable belief that the so-called millennial generation is a completely new and unique group that speaks Klingon, only drinks Pabst Blue Ribbon (or some other ironic varietal), and apparently would have NO desire for the classic watches that they had previously made. 

And this is, to me, hilarious.  Because it fails to take into consideration that yes, styles and tastes will change and shift and EVOLVE.  But that is evolution, not revolution.  And when you've built a brand that is based on a certain thing, and you've been successful with it... well maybe you should not abandon it so readily. 

Baume & Mercier is not hip.  And guess what?  That is okay!  For better or worse, Baume & Mericier is invariably the watch that is purchased by someone who is not entirely sure of what they want or are looking for.  They are the unofficial watch of Goldilocks - not too expensive, not too cheap, not too "sporty".  They are just right. 

And they are also firmly in the sweet spot for upper middle-class moms and dads who live in the suburbs.  Guess what?  They have money and the SPEND it!  They don't require a lot of marketing.  When I was working at Tourneau I would invariably have customers like this:
"I want a watch for my wife/husband.  It is our fifth anniversary."  This would lead us to Cartier, Rolex and invariably end at Baume & Mercier.  It was not the most expensive, it was not the cheapest, it was just right 

There is a retail store in Santa Barbara who at one time had:
Breitling, Patek, Cartier and Baume & Mercier.  Guess what their best seller was?  Baume & Mercier!

Because when you flail and flap about, changing your m.o. every few months, well you run the risk of losing the customers you already have. 

Because let's face it, the Shelby Cobra is a strange partnership choice.

Courtesy of Rod Hess

Because nothing says Baume & Mercier like this...

An SIHH Preview from Baume & Mercier

This is the Clifton GMT Power Reserve -

Courtesy of Baume & Mercier

Here are the pertinents, straight from Baume & Mercier HQ -

CLIFTON GMT POWER RESERVE  

 

REFERENCE

ƒM0A10316

MOVEMENT
Automatic (Soprod 9035)
Oscillating weight personalized
with snailed & « Côtes de Genève » decors
Circular-grained bridges & plate
Blued steel screws
Jewels: 28
Power reserve: 42 hours
Frequency: 4Hz (28’800 vph)

FUNCTIONS
Hours, minutes, seconds, dual time, power reserve indicator, date

CASE
Round
Diameter: 43 mm
Polished & satin-finished steel
ƒDomed antiglare scratch-resistant sapphire crystal ƒ Sapphire case back secured with 4 screws

DIAL
Sun satin-finished blue
ƒRhodium-plated Arabic numerals and indexes ƒ Rhodium-plated hands

STRAP
Square scales black alligator CLASP
Adjustable triple folding clasp with security push-pieces

WATER-RESISTANCE
5 ATM (approx. 50m)

Baume & Mercier - Back to Reality

So...
it goes without saying that reality can be a pretty cold cup of coffee when it is staring you in the face. And with the release of Baume & Mercier's latest collection, it seems that the folks at Richemont might finally be understanding that it's adapt or die time.

Courtesy of Baume & Mercier

So for the low, low price of a few George Washingtons less than $1,000 US, you can purchase a bit of a "me too" item.

Now, let's be clear about a few things.  Baume & Mercier makes some very nice watches.  It is not a secret that many of us who cover them in both the fourth and fifth estates have been known to question their pricing strategy.  To put it gently, a bit more expensive than seemed appropriate.  

Now interestingly enough, in some locations they did very well.  They were, like Maurice Lacroix often is, the watch the store would point the customer to when it was clear that the customer had no real idea of what they were looking for or were interested in.

Now while this lower priced watch, named the MyClassima, Baume & Mercier is (at least in my opinion), floating a test balloon.  If you think about it, it makes sense.  Float a new collection out at a lower price, and see what the reaction is.  If it is positive, you adjust your other collections to more accurately reflect what prices the market will actually bear.  If it does not pan out, you move on.

So we shall wait, and we shall see.

The Transfer Window Opens at Richemont North America

While it has been known for some time that a new president was being vetted at Baume & Mercier, today the new ship's captain has been named.  This is a bit more of a "warm n' fuzzy" transfer as the incumbent will be remaining at Richemont to take up a new position with Cartier.  So here's the news, straight from Baume & Mercier -

Baume & Mercier announces Frédérick Martel as the new President of Baume & Mercier North America, effective immediately. Frédérick Martel replaces Rudy Chavez who has moved internally at Richemont to be the Vice President of Specialist Retail at Cartier North America. As President, Frédérick Martel will work out of Richemont’s New York headquarters and lead the strategy to 

grow the North American business.

Mr. Martel is a veteran of Richemont, having served as the Director of Marketing and
Communications for IWC North America. Most recently, he was the Vice President of Sales and Marketing for Audemars Piguet for the Americas.

“We are very pleased to have Frédérick Martel join the Baume & Mercier North
American team,” Mr. Zimmerman explains. “His background and extensive
knowledge of the luxury watch industry will be instrumental in the continued
growth and momentum of our brand. We wish Rudy the best of luck in his new role;
we’re thankful for his years of leadership and unparalleled dedication to our brand.”

“I’m honored to assume the role of President for Baume & Mercier North
America. It’s a Maison I’ve always admired because of its unique combination of
luxury, quality and attainable price points. In fact, my very first mechanical watch
was a Baume & Mercier Hampton. I’m proud to be part of the next chapter in the
brand’s history and future development,” explains Mr. Martel.

Clifton 1830 Pocket Watch

This just in from Baume & Mercier

Courtesy of Baume & Mercier

Clifton 1830 Pocket Watch

The 18K red gold Clifton 1830 five-minute repeater pocket watch is a masterpiece of fine watchmaking, inspired by the long line of historic creations the company designed in the 19th century. Transposed with subtly modern flair, it meets all the textbook standards of Swiss watchmaking tradition. It is an outstanding echo from the past as well as a portrait of heritage, a lucky charm commemorating the tradition that subtly traces the transition from one generation to the next. Most importantly, it is also an iconic watch that bears witness to 185 years of the inspiring story of Baume & Mercier through its enduring lines and technical complexity.  Merging classical design and intricate engineering, the remarkable Clifton 1830 five-minute repeater pocket watch is being produced in a numbered limited series of 30 timepieces that hark back to 1830, the year the company was founded. It was designed to stir the hearts of bona fide connoisseurs on a quest for exceptional watchmaking.

185 Years Young

This is special -

Courtesy of Baume & Mercier

Baume & Mercier wanted to offer something a little bit more than a "stock" piece with an inscription.

This is the the Clifton 8-Day Power Reserve - a 185 piece limited edition.

45.5 mm of 18k red gold.  The movement is hand wound and provides hours, minutes, sub seconds, date and power reserve.


Here's the scoop, straight from the source -

A Watch Symbol to Celebrate Baume & Mercier’s 185 Years of Expertise

A 185-piece limited edition: Clifton 8-Day power reserve
Few brands have the distinction of a long history with classic designs that remain timeless for years to come. Since 1830, Baume & Mercier has been a part of this inner circle. This year, the brand is celebrating its 185th anniversary. To honor this celebration, only an exceptional timepiece embodying the mastery and heart of the brand will do: introducing the Clifton 8-Day Power Reserve.

Celebrate 185 years of expertise
Limited to 185 pieces, the Clifton’s sophisticated mechanism embodies 185 years of Swiss watchmaking. With a polished and satin-finished case and domed dial matching the sapphire crystal shape, this Clifton piece stays true to the brands roots. Its luxury qualities, traditional finishes, and exceptional performance seamlessly fall within the family of complex timepieces cultivated by Baume & Mercier. Similar to the Clifton 1830 launched in 2013 and Clifton Tourbillon 1892 unveiled in 2014, this elegant new edition embraces the heritage that has always been appreciated for its sense of balance. 

Performance at the Core 

Baume & Mercier has chosen a mechanical manual-winding manufacture movement, with an eight-day power reserve, for this 45.5 mm 18K red gold piece. This manual movement enables the watch to run for over a week. At this level of perfection, every detail counts. To help each owner find the most appropriate time to wind the watch, Baume & Mercier placed a discreet power- reserve indicator on the dial, which shows the winding level.
Visible through the transparent case-back, this hand-assembled 16 3⁄4-ligne caliber provides a glimpse of the variable-inertia balance oscillating at a frequency of 28,800 vibrations per hour. Adjusted by a master watchmaker in five positions, as is customary with high-precision watches, this movement is equipped with a stop seconds mechanism, designed to ensure the most accurate possible time-setting.

This large manufacture caliber boasts an eight-day power reserve (compared to two days for most mechanical watches) provided by a single barrel, which represents an exceptional performance. The balance is disabled by a mechanism at the end of 192 hours, when the available energy becomes insufficient to ensure the accuracy of the movement. Because of this power reserve function, only three full windings are required each month.
The beautiful décor features a circular-grained finish on the plate and “Côtes de Genève” on the bridges. One of the bridges is engraved with the Greek letter, “Phi”, which is the logo of Baume & Mercier as well as the symbol of “Divine Proportion” and the golden ratio. 

Clifton 8-Day Power Reserve 10195 

To expand the Clifton watch line that is a pillar of its collections, Baume & Mercier introduces the Clifton 8-Day Power Reserve. This exceptional piece with a domed, opaline silver-colored dial, showcasing a snailed small seconds counter at 6 o’clock and power-reserve indicator at 9 o’clock. The dial is decorated with riveted numerals and indexes. The 18K red gold 45.5 mm case, powered by a manual-winding manufacture caliber with a 192-hour power reserve, is part of a limited edition release. 185 engraved pieces were produced to celebrate the anniversary of the Swiss brand. The Clifton 8-Day Power Reserve watch delivers with a black square scale alligator strap, secured by an 18K red gold pin buckle, completing its design with refined sophistication. Offered in a special limited edition case, this Clifton has the design to celebrate special moments for a lifetime.

Happy Birthday Baume & Mercier!

Happy Holidays from Baume & Mercier

Some New Chronograph Goodness from Baume & Mercier

This is a bit of an early SIHH Preview from Baume & Mercier

Courtesy of Baume & Mercier

Baume & Mercier and the Dallas Symphony Orchestra

This just in from Baume & Mercier -

Courtesy of Baume & Mercier

Eiseman Jewels and Baume & Mercier recently celebrated the opening of the Dallas Symphony Orchestra season with their presence at the opening gala. From left to right: Rudy Chavez, President Baume & Mercier North America; Richard Eiseman of Eiseman Jewels; Aaltje van Zweden, wife of Jaap van Zweden; Jaap van Zweden, Music Director of the Dallas Symphony Orchestra. 

Tourneau Exclusive Limited Edition from Baume & Mercier

I started out my watch career at Tourneau in San Francisco.  I remember a lot of reps coming in, some nicer than others.  I must say that whoever the Baume & Mercier rep for our district back in 2003 was probably one of the nicest people I ever met, and he in turn inspired me to pursue a job in the industry.

Courtesy of Baume & Mercier 

Richemont and the Hunger Games

So with the announced sabbatical of the "man behind the curtain" (i.e. the Chairman), Richemont is set for its own version of the Hunger Games.

For some background here is something from the good folks at Reuters -

http://www.reuters.com/article/2013/07/12/richemont-management-idUSL5N0F11UI20130712?goback=%2Egmp_56533%2Egde_56533_member_258245912

So as a departure from my usual, sunny-side up commentary on the watch world, let me start by saying that this is, quite possibly the most "assed-up" thing I have read in some time.  And this is where I think we can safely say the day of the "rock-star" watch group CEO has passed its "sell-by" date.  Picture if you will an elite group of brand managers fighting it out to see who will be the winner.  While the argument could be made that competition brings out the best in people, I think that the decision makers at Richemont are setting themselves up for a whole lot less collaboration, and a whole lot more acrimony.

So the real challenge in this future "battle royal" will be to see which brand manager/CEO can rise to the top without jamming the "blade of executive excellence" into their fellow-CEO's back.
Cue the "battle theme" from Star Trek ; )

So my sincere hope that the powers at be at Richemont will reconsider pursuing this Jack Welch "redux" with a Lord of the Flies approach to determining corporate succession.  On the other hand, if you're not too worried about collaboration or sustained growth for the WHOLE group, then maybe this is the perfect approach.  I'm sure SWATCH, LVMH and everyone else won't mind!

Jaeger-LeCoultre Charity Polo Match

It has been a very busy week of polo and charity in Argentina for Jaeger-LeCoulture and its ambassadors.

This past Monday the 29th saw a special match with some of its ambassadors to benefit the Christian Family Polo Movement - a group that strives to help build school infrastructure for children in low-income families.

So it seems that Santa Clause is alive and well and rides a Polo pony!  It is great to see a company and its ambassadors actively engaged in charitable efforts!

                                            www.jaeger-lecoultre.com