"When I want your opinion I'll give it to you"

We live in REALLY goofy times. Watch Town and the members of the Fourth and Fifth Estates who "cover" it have a rather curious relationship. For those desirous of a more close relationship, the more salubrious path appears to be deference, oftentimes bordering on the sycophantic.

Now for my sins, I have been declared excommunicado by Richemont, LVMH, and a liquorice assortment of brands that seem to spend more time thinking about me than I do about them. And some of these brands are downright antipathetic. Almost as if I'd run over their dog and they won't forget it. 

With about 6,000 visitors a day, I accept that Henki Time is not a big fish. And that's okay. But I also have to wonder what loose screw is rattling around the collective PR/Marketing braintrusts in some of these brands that they feel that all reviews, stories, and coverage must be glowing? And no, I am not feeling personally persecuted as I am not alone in this semi-isolation. Astrid Wendlandt (Miss Tweed), Gregory Pons (Business Montres) and others more celebrated than yours truly never seem to get invited to the ball (or more specifically the rather lavish press junkets, etc.,.), or even Watches and Wonders in some cases...

So what's brought all this up? I'm glad you asked! One notable thing happened recently that underscores the problematic rift that exists between some brands and the people who would like to cover them. 

Miss Tweed has been on the outs with Richemont for some time. Curious to relate? She owns stock in Richemont (albeit 1 share) and was recently denied admission to the shareholders meeting. Now let's think about this for a minute, Richemont has already cut her out of any possibility of trying to cover them on a first hand basis by denying her admittance to Watches and Wonders (which is pretty douchey in and of itself). But this latest move shows a certain level of pettiness that is hard to fathom. Now this is just little me, but if I had the resources that Richemont does, I would actually reach out to this person, hear them out, maybe have an actual conversation? The worst that could happen is that the journalist will feel respected for taking the time to ask questions (albeit some of them uncomfortable) and it might just lead to a burgeoning detente. 

But then again, what the hell do I know?

Fall Repeat - I Could Do It Better Myself! The Brand CEO

Or, a cautionary tale on the realities of the watch business.

In a former life, I was not in the watch business on any level whatsoever.  I bought the three US based watch magazines with the same fervor of an 8 year old buying baseball cards. Okay, that example might be out of date, but take your young child's current enthusiasm and insert it here ; )

When you admire a business or industry from afar, it is quite easy to see things through rose-colored glasses.  A good friend of mine dreamed of working for a European based professional cycling team.  He wanted to be the guy who was there at the finish line to assist the next Bernard Hinault off his bike at a stage finish of the Tour de France.  After three years of living in shitty hotels around the world, multiple cases of bronchitis, a failed marriage (former wife left him for a barista. To paraphrase her parting words: "at least he had a steady job and was home on weekends") and getting a good scare after getting jabbed by an IV bag's bloody, used needle, he realized that $50,000 a year was not worth it.  Reflecting back, he did have the ability to curse in French, Portuguese, Italian, Spanish, Dutch and one other language that he still can't identify, some scratched-up water bottles, and a signed jersey from a race winner in some minor,  Eastern European stage race that is no longer in existence.  His former wife earned an MBA and that former Barista now works for a well-respected NGO in micro finance, and has given a well-received TED Talk. The point being? Sometimes dreams are just that...

But let's get back to watches.  Despite the fact that I have no hesitation to call bullshit on certain situations, I suffer no delusions as to the difficulty of trying to run, or even work for a brand.  Today, let's start at the top and think about that rockstar - the CEO.

As has been mentioned before, the late 90s and early Oughts brought with them the era of the watch brand CEO as rock star. We all know that Biver was Blancpain, Omega then Hublot. We know that Frederique Constant were led by the Stas family, and that Thierry Stern is the latest (and perhaps last) Stern family member that will helm the ship as the gold medal winner in the genetic Olympics.  Now in most other industries, a CEO is, well, just not that sexy.  For whatever reason (and we all theorize about it) watch CEOs suddenly became not only relevant, but exciting!  And for better or worse, that has been steadily changing over the past few years.  And with it we have seen some pretty dramatic falls from some pretty lofty heights.

As armchair experts, we assume that as a CEO you live a pretty easy, idyllic life -

You roll into the office at around 10:00 AM, traipse through the production facility wishing all of the watchmakers well, grab the paper and plop your feet up on your desk as an espresso magically appears at your side.  You might then speak briefly with a sales manager hearing the wonderful results, then you saunter down to the executive dining room for lunch.  After lunch you're off to the airport where a private jet whisks you off to Italy for a photo-op with your favorite footballer who trades you a signed jersey for a (retail) $20,000 watch. You have a lovely early dinner with said star, team president and other hangers-on.  Then back to the private jet that whisks you home, where your stunning (not-so-age appropriate) partner is waiting for you wearing little more than a smile.  

This is, of course, all bullshit.

So I thought I would share with you a montage of of the Swiss and Japanese CEO's I have worked with and give you a sense of what their day was like:

4:15 - rudely awakened by a random call from an overseas sales manager who despite working for a company that manufactures, markets and sells wrist watches, has still not grasped the concept of international time zones.  But what can you do?  He's the nephew of one of your Board members.

6:00 - after stealing back 15 - 20 minutes of sleep, you have to get up, put on your track suit and take the dog out before you have another unfortunate incident that will require strong cleaning products to remedy if you don't get the puppy on the leash and out into the garden in the next 45, 44, 43 seconds!

6:20 - you made the mistake of bringing your cell phone with you on the walk which is now taking longer than usual as you have a call from the head of assembly, informing you that there was a leak in the lavatory that has now seeped down into the workshop.  You are now really regretting not selling the beautiful old workshop (great for photo opportunities and media "moments" but your watchmakers hate it) when you were approached by that smooth talking, but slightly dodgy real-estate agent who was shopping on the behalf of a very wealthy client hailing from a former Soviet Republic/Stan, who could not be named, but who you suspect belongs to a "fraternal" organization made up of other mysterious fellows that is not the Elks or the Masons.  

7:15 - chasing the kids to hurry up and get ready!  Your partner has already left for work, and today's your day to get the children to their three different schools which are, you guessed it, in three different villages.

8:20 - all three now safely deposited at their institutions of learning, you work the phone (via your hands-free set-up) as you drive on to the office.  No work has taken place in the workshop.  The plumber is, apparently, on vacation in Majorca, and you are now reaching out to a regional assembler to see if they can help you out in the short term by handling the assembly of a week's worth of production.

8:55 - you sprint past the main entry way where you clap eyes on the journalist who is there for an interview (set to start in five, no make that four minutes).  Brief pleasantries are exchanged, and you make your way to one of the conference rooms.  This is the same room that was used for the company yoga class last night, and is still a wee-bit "aromatic" this morning.  

9:05 - after apologizing for the absence of a coffee (nobody remembered to order more Nespressso pods), you begin the dog and pony show with the journalist who you realize is just slightly older than your eldest child, and might be finally old enough to vote in their first election this year.  Halfway through the interview/inquisition you are then treated to the sales pitch from said journalist who presents you with a rate card for today's interview.  If you want it to run beyond their instagram feed, it will cost X.  You make a mental note to cancel the lunch reservation and wrap this up as quickly as possible.  A "goodie bag" is assembled and passed over, and you move onto the next hurdle.

10:45 - Regional Assembler owner calls to inform you that they are "SLAMMED" with orders from (Regional Assembler begins to drop big, expensive names), but maybe you could meet at the most expensive restaurant near his shop to discuss the possibilities over lunch?

11:05 - after reviewing the plumbing situation, you call your brother-in-law who you remember did a 6 month apprenticeship back in the 80s, and might be able to help out.

11:50 - you remember that tomorrow is the board meeting. You put together a shopping list for food and beverages, and NESPRESSO PODS, Dammit!

12:30 - you arrive at the most expensive restaurant near the assembler's shop to find the assembler and someone who is very clearly not his wife sharing the remains of a not inexpensive bottle of champagne.  You do the mental math and realize that you probably never should have called him in the first place.  Your guests order half the menu, you order a cup of soup and still water, trying to figure out how to explain this to your accounting department.  In the end, apologies all around, but we're just too busy to help you.  "But we should do this again some time!"

2:43 - back at the workshop, your brother in law is on the scene, has somehow managed to field strip the leaky joint, run out to the local home improvement store, purchased the requisite replacement gaskets, re-assembled the connection, flushed the pipes and...
Good as new!  He even grabs a mop to help the cleaning crew clean up the mess!  You make a mental note, contact the purchasing office and - with your own money - buy him a new watch with your company discount.  Thank you's are exchanged and you make plans for him and his family to come over at the weekend.  All is right with the world... for now.

4:45 - after about a ZILLION calls from overseas agents, you then have your meeting with the marketing department who are very, very keen to make a regional F3 racer a brand ambassador.  You google the name and realize that said F3 racer is the godson of your head of marketing.  You keep your poker face, and suggest a follow-up meeting about it next week.

8:30 - You have nearly finished preparing your presentation for the board meeting tomorrow night, your partner calls to ask you if you could please pick up your middle child who missed the bus after her karate class.  So you gather up a few files, grab your shopping list for tomorrow, grab your laptop and head to your car, your daughter, and finally - home.

Yes, it's not all glamour ; )

40 Years for Hublot

Has it really been that long?  Apparently so, because a press release reached Tempus Fugit HQ this AM regarding Hublot's 40th Anniversary collection.  There are three pieces, but I thought I'd stick to the one that spoke to me -

Courtesy of Hublot

The case is of titanium and measures 45 mm in diameter, so this is clearly not an "homage" piece. The movement is Caliber Hublot HUB1112 Self-winding movement, featuring 42 hours of power reserve. Had Carlo Crocco stuck with it, this might have been what he'd have designed. The price is not for the feint of heart - $8,300 US for this version.

I Could Do It Better Myself! The Brand CEO

Or, a cautionary tale on the realities of the watch business.

In a former life, I was not in the watch business on any level whatsoever.  I bought the three US based watch magazines with the same fervor of an 8 year old buying baseball cards.  Okay, that example might be out of date, but take your young child's current enthusiasm and insert it here ; )

When you admire a business or industry from afar, it is quite easy to see things through rose-colored glasses.  A good friend of mine dreamed of working for a European based professional cycling team.  He wanted to be the guy who was there at the finish line to assist the next Bernard Hinault off his bike at a stage finish of the Tour de France.  After three years of living in shitty hotels around the world, multiple cases of bronchitis, a failed marriage (former wife left him for a barista. To paraphrase "at least he had a steady job and was home on weekends") and getting a good scare after getting jabbed by an IV bag's bloody, used needle, he realized that $50,000 a year was not worth it.  Reflecting back, he did have the ability to curse in French, Portuguese, Italian, Spanish, Dutch and one other language that he still can't identify, some scratched-up water bottles, and a signed jersey from a race winner in some minor,  Eastern European stage race that is no longer in existence.  His former wife earned an MBA and that former Barista now works for a well-respected NGO in micro finance, and has given a well-received TED Talk.

But let's get back to watches.  Despite the fact that I have no hesitation to call bullshit on certain situations, I suffer no delusions as to the difficulty of trying to run, or even work for a brand.  Today, let's start at the top and think about that rockstar - the CEO.

As has been mentioned before, the late 90s and early oughts brought with them the era of the watch brand CEO as rock star. We all know that Biver was Blancpain, Omega then Hublot. We know that Frederique Constant are led by the Stas family, and that Thierry Stern is the latest (and perhaps last) Stern family member that will helm the ship.  Now in most other industries, a CEO is, well, just not that sexy.  For whatever reason (and we all theorize about it) watch CEOs suddenly became not only relevant, but exciting!  And for better or worse, that has been steadily changing over the past few years.  And with it we have seen some pretty dramatic falls from some pretty lofty heights.

As armchair experts, we assume that as a CEO you live a pretty easy, idyllic life -

You roll into the office at around 10:00 AM, traipse through the production facility wishing all of the watchmakers well, grab the paper and plop your feet up on your desk as an espresso magically appears at your side.  You might then speak briefly with a sales manager hearing the wonderful results, then you saunter down to the executive dining room for lunch.  After lunch you're off to the airport where a private jet whisks you off to Italy for a photo-op with your favorite footballer who trades you a signed jersey for a (retail) $20,000 watch. You have a lovely early dinner with said star, team president and other hangers-on.  Then back to the private jet that whisks you home, where your stunning (not-so-age appropriate) partner is waiting for you wearing little more than a smile.  

This is, of course, all bullshit.

So I thought I would share with you a montage of of the Swiss and Japanese CEO's I have worked with and give you a sense of what their day was like:

4:15 - rudely awakened by a random call from an overseas sales manager who despite working for a company that manufactures, markets and sells wrist watches, has still not grasped the concept of international time zones.  But what can you do?  He's the nephew of one of your Board members.

6:00 - after stealing back 15 - 20 minutes of sleep, you have to get up, put on your track suit and take the dog out before you have another unfortunate incident that will require strong cleaning products to remedy if you don't get the puppy on the leash and out into the garden in the next 45, 44, 43 seconds!

6:20 - you made the mistake of bringing your cell phone with you on the walk which is now taking longer than usual as you have a call from the head of assembly, informing you that there was a leak in the lavatory that has now seeped down into the workshop.  You are now really regretting not selling the beautiful old workshop (great for photo opportunities and media "moments" but your watchmakers hate it) when you were approached by that smooth talking, but slightly dodgy real-estate agent who was shopping on the behalf of a very wealthy client hailing from a former Soviet Republic/Stan, who could not be named, but who you suspect belongs to a "fraternal" organization made up of other mysterious fellows that is not the Elks or the Masons.  

7:15 - chasing the kids to hurry up and get ready!  Your partner has already left for work, and today's your day to get the children to their three different schools which are, you guessed it, in three different villages.

8:20 - all three now safely deposited at their institutions of learning, you work the phone (via your hands-free set-up) as you drive on to the office.  No work has taken place in the workshop.  The plumber is, apparently, on vacation in Majorca, and you are now reaching out to a regional assembler to see if they can help you out in the short term by handling the assembly of a week's worth of production.

8:55 - you sprint past the main entry way where you clap eyes on the journalist who is there for an interview (set to start in five, no make that four minutes).  Brief pleasantries are exchanged, and you make your way to one of the conference rooms.  This is the same room that was used for the company yoga class last night, and is still a wee-bit "aromatic" this morning.  

9:05 - after apologizing for the absence of a coffee (nobody remembered to order more Nespressso pods), you begin the dog and pony show with the journalist who you realize is just slightly older than your eldest child, and might be finally old enough to vote in their first election this year.  Halfway through the interview/inquisition you are then treated to the sales pitch from said journalist who presents you with a rate card for today's interview.  If you want it to run beyond their instagram feed, it will cost X.  You make a mental note to cancel the lunch reservation and wrap this up as quickly as possible.  A "goodie bag" is assembled and passed over, and you move onto the next hurdle.

10:45 - Regional Assembler owner calls to inform you that they are "SLAMMED" with orders from (Regional Assembler begins to drop big, expensive names), but maybe you could meet at the most expensive restaurant near his shop to discuss the possibilities over lunch?

11:05 - after reviewing the plumbing situation, you call your brother-in-law who you remember did a 6 month apprenticeship back in the 80s, and might be able to help out.

11:50 - you remember that tomorrow is the board meeting.  You put together a shopping list for food and beverages, and NESPRESSO PODS, Dammit!

12:30 - you arrive at the most expensive restaurant near the assembler's shop to find the assembler and someone who is very clearly not his wife sharing the remains of a not inexpensive bottle of champagne.  You do the mental math and realize that you probably never should have called him in the first place.  Your guests order half the menu, you order a cup of soup and still water, trying to figure out how to explain this to your accounting department.  In the end, apologies all around, but we're just too busy to help you.  "But we should do this again some time!"

2:43 - back at the workshop, your brother in law is on the scene, has somehow managed to field strip the leaky joint, run out to the local Home Depot, purchased the requisite replacement gaskets, re-assembled the connection, flushed the pipes and...
Good as new!  He even grabs a mop to help the cleaning crew clean up the mess!  You make a mental note, contact the purchasing office and - with your own money - buy him a new watch with your company discount.  Thank you's are exchanged and you make plans for him and his family to come over at the weekend.  All is right with the world... for now.

4:45 - after about a ZILLION calls from overseas agents, you then have your meeting with the marketing department who are very, very keen to make a regional F3 racer a brand ambassador.  You google the name and realize that said F3 racer is the godson of your head of marketing.  You keep your poker face, and suggest a follow-up meeting about it next week.

8:30 - You have nearly finished preparing your presentation for the board meeting tomorrow night, your partner calls to ask you if you could please pick up your middle child who missed the bus after her karate class.  So you gather up a few files, grab your shopping list for tomorrow, grab your laptop and head to your car, your daughter, and finally - home.

Yes, it's not all glamour ; )

Winter Repeat - What I've Learned

I first ran this a little less than two years ago and it seemed a good time to air it out again.

What I've Learned

Despite some pretty dubious watch coverage, I still really enjoy Esquire and I am a big fan of their "What I've Learned" interview segments.  So given some recent interactions I've had both in person and online, and considering that if I count back to when I first stepped behind the counter at Tourneau in San Francisco, I've been "in the game" for 15 years now, I thought it might be fun to put out my own "What I've Learned" piece.  So, gentle reader, here is some of what 
I've learned -

For some outlets, nothing is ever really free.

Now in fairness, people who write about watches are largely divided into two groups:

Those who do it out of passion alone, and those who do it for a living.  Quick note, nothing 

wrong with doing it for a living.  Of the second group, some do it for a living, but are still

passionate about what they do, and actually consider writing about a watch, a brand, 

a watch maker WITHOUT asking for payment (be it advertising, sponsored posts, outright payola) 

first.  For those of your out there in the marketing departments - if your going to spend

marketing money, then spend it on people out there writing about things that they

are passionate about, not just what they are being paid for.


While it is true that Hayek saved the Swiss Watch industry, Jean-Claude Biver would have still kicked ass with Blancpain and would have lived happily ever after either way.

I was there before Hublot became what they would become.  
I am still here now that it is a somewhat bumbling PR gas factory that, apparently, also makes watches.  Although I know that I have the ability to highly irritate him, I have a great deal of respect for Jean-Claude Biver.  But now is the time to start thinking about legacy.  About what happens when he is no longer there.  Jean-Claude Biver is a very, very impressive man.  He has done some very amazing things. Here's hoping it doesn't get washed away.

When a brand manager or CEO asks you "How are you my friend?"  The translation of that is - "how you doing, asshole?"

Brand managers, CEOs, PR people?  By and large, they are not your friends. No offense intended to brand managers, CEOs or PR people ; ). But be honest with yourself, you're not likely to be invited to their kid's wedding. Don't delude yourself to the contrary.  You might get lucky with a few - and I have, but the true friends will reveal themselves over time, and they are the ones you should always make time for at BaselWorld.

Having said all that - sometimes you will, despite your compulsion to serve up cold cups of coffee, find some true friends and supporters in some very unexpected places.

You will learn to see when people are genuine.  Hold onto those people like a non-treatable social disease.  They have every reason to dislike you based on what you write or say, and yet they are your audience.  And they are your friends indeed.

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

Little known piece 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 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, your writing, and your passion that you are predisposed to write nice things about a brand, and said brand treats you with a fair amount of indifference?  Take it on the heel and toe.  Love needs to be reciprocal.

I am still somewhat miffed by my interaction with a certain member of the SWATCH group.  I gave up a Thanksgiving holiday, spent several hundred dollars of my own money to interview their CEO, and then watched as the outlet that they were on retainer with got so-called "exclusives", review opportunities, etc., and I got the cold shoulder.   To this day, I have no doubt that the North American brand manager of SWATCH GROUP brand X just thinks that I am a difficult person.  But in fairness?  If someone is willing to give you so much for NOTHING?  You can spare a little time and a little effort.  And for what it's worth?  In speaking with retail partners of SWATCH GROUP brand X, they are not exactly selling like the waffle's sexier cousin - the hotcake.

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.” 

The Sapphire Crystal Ceiling is Broken - at Patek Philippe USA

Otherwise known as the Henri Stern Watch Agency.  In a welcome breath of fresh air, Patek has taken up the challenge to live and work in the 21st century, and hire not just the best man for the job, but in fact the best PERSON for the job by appointing Lisa Jones as the new President of US operations.

Lisa Jones is by no means a newcomer to Patek, having spent the last 16 years with the brand.  She has worked in several areas including pr, sales and marketing.  Prior to her new appointment, she was the vice president.

She takes over from Larry Pettinelli, who has been a fixture with Patek since the 80s.  Mr. Pettinelli will be, apparently, embarking on the "next phase of his career" according to the announcement.  And no pals and gals, I have no idea what that really means either.

Now a few things that have been cause for speculation:

1.  What is the near-term future for Patek?  It has been a "family" business for some time, but the next generation of Sterns have, if other reporting is to be believed, not expressed a lot of interest in carrying on in the firm.  Is it time to sell-up and move on?  
(Dear Reader, feel free to insert your random theories involving Biver, Richemont and undisclosed Chinese or Saudi buyers here).

2.  It has been mentioned by some that the brand's Patek sais quoi has lost some of its "thingness".  Re-sale values of pre-owned Patek pieces are, according to a few pundits, flat.  Re-sale values of Rolex, on the other hand?  Off the chain.

3.  The Swiss watch industry, on the whole?  Not really doing all that well.  The next round of export numbers are due to hit on the 28th, so we'll sift through those tea leaves when the time is ripe.

But, all that being said, congratulations to Lisa Jones for her new position, and congratulations to Patek Philippe for joining the the rest of the world in modern times.  We will see if LVMH is finally ready to follow-suit ; )

Just When You Thought It Was Safe...

to look at the export numbers again...

Courtesy of the FH

Talk about a kick in the dick.  These are the latest figures courtesy of the FH, and despite the codswallop the BaselWorld Fair organizers would like to shovel down your throats, the future's so bright you have to ... wear a raincoat and carry an umbrella.  We are now truly south of -10%!

And this is truly tough for watch executives who are unfamiliar with the philosophies of failure -



So being charitable, that is only a 4% decrease since last year...

But, and it's a big but, so let me tell you about my big but...

This is a SHIT-TON of money.  And  this is just not the Hayek's money, not just Biver's money, not just Rupert's money... this is a family's money, a teacher's retirement pension fund's money.  In other words?  People who deserve a bit more attention and care rather than another America's Cup sponsorship!

You know that watch maker who didn't start his own brand?  Right now he and his family are eating cup noodle because, well, apparently millions of dollars flushed down the sink-hole of vanity was a much better investment than salaries.  And why hold the CEO accountable when it is easier to make staff redundant?

In a way, it is strangely appropriate that this result came out mid-BaselWorld.  A BaselWorld that many of us have named Denial 2.0

So, I am sorry to be one of the few dissenting voices.  But all is not well.

So let's hope that this is the bottom, but I fear it is not.  So maybe stop the bullshit, and start dealing with the problems.

Ain't a Horse that Can't be Rode, there ain't a Man that Can't be Throwed

So it would seem that once again, Biver the Great is hitching up his pants and getting ready to jump into the breach to save Zenith.  In the press release that went out a a very odd hour last night/this morning, he made this statement -

"I am personally taking over interim management. I want to be more involved and to create greater synergies between the group’s three brands. I’ll be working with the teams to give this brand the lustre it deserves."

On the one hand, this is the first sane statement that has been made about Zenith in some time, but it is looking at something in a manner that, if we are very honest, was not all that sexy and not the runaway success that some people seem to feel that it was.

Zenith has had its moments, but has not really been at the epicenter of the industry as a stand alone brand in the more traditional senses.  This is not meant to take anything away from them, but let's just be very, very clear here.  Movements were made for and sold to Ebel, Concord, and a little mom & pop named Rolex.   And business by and large was okay.  Not rocket ship to the moon, but steady.  A few owners came and went, and if memory serves a certain outfit named Movado felt they had pushed this particular horological noodle as far up the hill as they were willing.

LVMH acquired Zenith in 2000, and in 2001 they parachuted one of their loyalists, Thierry Nataf, into the hot seat with the brief to pull this particular lunch box out of the toilet bowl.  That's where most people think the twists and turns began, and in some ways they are right.  But that is actually short-sighted.   Zenith was facing a boatload of challenges.  Not the least was their inability to market and sell watches under the Zenith in the US.  And it bears mentioning that although the Nataf era ended in what many people feel was an implosion and betrayal of the brands DNA, I don't know if there is a GENUINELY understood and agreed upon brand DNA that actually existed in the actual real world, actually... revisionist history notwithstanding.

And one good leader was replaced by another who many of us, felt had no option but to be a bit of a "mini me" for the shot caller, the very man who has accepted his resignation and will be captaining the good ship Zenith.  And it is also important to note that Mr. Magada was one of Biver the Great's boys.  So clearly something happened, and I'll tell you why - very little happens on any level that Mr. B is not aware of, and moreover does not approve of.  And that is both a spur and a bridle.  It is safe to say that Biver has done more good than harm pretty much everywhere else he's gone, so hopefully this will be more of the same.

Let us see where we are this time next year.  But everyone will meet their Waterloo whether they know it or not.  Most get lucky and do it in private.  That was not the fate for Nataf or Magada.  And time will tell whether Jean-Claude Biver by force of his personality and sheer will can create something out of Zenith.

As that other famous watch commentator Lou Rawls once said on the Big Valley -

"There ain't a horse that can't be rode, there ain't a man that can't be throwed"

Hublot Loves Football... Sorta'

HUBLOT CREATES FOOTBALL HISTORY AGAIN PELÉ AND MARADONA TOGETHER FOR ONCE IN A LIFETIME MATCH!

Yes, clearly English is a tricky language... 

Hublot has partnered with some famous footballers - past and nearly present - and played a bit of five a sides -

Team Pelé – Ferdinand, Hierro, Dida, Crespo and Bebeto and Team Maradona – Trezeguet, Peruzzi, Ferrara, Materazzi and Seedorf 

Yawn...

Courtesy of Hublot

In a sporting event filled with about as much drama and suspense as a movie you've seen 30 times, 10 old farts rambled around a wildly improbable football pitch more likely found at a millionaire's estate than the real world where the rest of us live.

Because, you know, Hublot loves football!  

The concept was a "dream team" of world football greats to play in a game that we've apparently always longed to see.

Oh, and new watches and Hublot wall clocks were handed out.  

The new Euro watch was unveiled, limited edition of 100 pieces.

Courtesy of Hublot

Now what would be interesting is if they partnered with Tag Heuer for a smart watch function that could accurately keep a record of:

1.  Number of breaches of ethics and or conduct that happen at FIFA HQ each day

2.  Number of times those breaches are dismissed or ignored by the FIFA "ethics" committee

3.  Total dollar amount of bribes served up in FIFA land to secure the rights to world cups

4.  Number of foreign workers killed while constructing the stadiums for the Qatar World Farce

5.  Number of children in Nepal and other countries who now don't have fathers so that Qatar can build the stadiums for the World Farce that will be obsolete following the tournament

Courtesy of Hublot

And if I sound a bit pissy, you'll have to forgive me.  In fairness to Hublot they actually had a charitable aspect to this circus of the stars - 

At half time, there is a penalty shoot-out for the UEFA Foundation, “UEFA Foundation for the children”. 

This was so important to Hublot that they buried it in the press release and devoted an ENTIRE SENTENCE to it, making no further reference to the amount, what sort of work the UEFA Foundation does, etc.

So since Hublot couldn't be bothered to tell you about what exactly the UEFA Foundation does, allow me -

UEFA for Children was the initiative of Michel Platini.  An organization with very good intentions, the goal is to provide opportunities for less advantaged children in Europe and around the world.  

Hublot, I am really and truly happy that you have started incorporating charitable actions into your events and promotions.  I suppose we shouldn't look a "gift Big Bang" in the mouth.  But you have an audience of millions.  You could actually do something on the level of Omega with Orbis, but of course that would mean that you'd actually also have to WANT to do it.

So Mr. Biver, Mr. Guadalupe - I am throwing down the gauntlet once again. Quit the bullshit and do something real.



Having said that, for those of you out there that really do love football, and actually love people, here are some charities you could consider for a small donation.  No pressure from me, but just so you know they are out there.  

And Tempus Fugit will be making an admittedly modest donation to both organizations this summer -

Charity Ball

What is Charity Ball?

Courtesy of Charity Ball

Charity Ball is a soccer charity that provides, new, quality soccer balls to kids in poverty-stricken communities around the world.

Why?

Good question. Why invest in a soccer ball when there are so many other ways to help children? Consider the following:

• Children in developing countries are forced to deal difficult things like HIV/AIDS, contaminated water and civil war. One way for them to cope is by playing the game of soccer.
• Soccer is an excellent way to learn how to work together and succeed. It promotes friendship and fair play.
• Soccer promotes good health through physical fitness.
• Soccer reduces crime because kids have something constructive to do.
• Many children in developing nations will never get the opportunity to touch or kick a real soccer ball.
• Soccer can help a child develop a strong identity and sense of self worth.

How did Charity Ball start?

Charity Ball Soccer Charity was started in 2010 by Ethan King, who was 10 years old at the time. During the summer of 2009 he visited Mozambique (Africa) with his dad. While his father rehabilitated water wells, Ethan played soccer with the village kids. In one particular village, he decided to give his soccer ball away and quickly discovered the power of generosity. After returning to the United States, he decided that he wanted to do more. He gathered with some friends and officially launched Charity Ball. Read Ethan’s bio

Courtesy of Charity Ball

How does Charity Ball Work?

When you donate $25, a new, quality, soccer ball is purchased for a child. With basic criteria, affiliate organizations help us identify needy villages. When communities are approved, partner organizations help us with shipping and transportation. All Charity Balls are hand delivered. Nobody ever has to wonder if their Charity Ball actually made it into the hands of a child.

Soccer Without Borders

Courtesy of Soccer Without Borders

Soccer Without Borders first began programming in 2006 to address three critical issues facing young people in underserved communities throughout the world: 

1. A lack of safe spaces where young people feel cared for, have a voice and can experience the joy of sport.
2. A lack of opportunity for youth to actively explore social issues and community challenges.
3. A lack of social capital and access to potential opportunities for education, employment and personal growth.

Why soccer?

 

While there are many positive sport experiences, soccer is the most universally accessible; at its most basic level it offers playing opportunities that are low-cost, physically beneficial, inclusive and enjoyable. Soccer also enjoys worldwide popularity, making it the perfect platform from which to develop physically, socially, and individually.

Soccer Without Borders believes that the potential of soccer to make change is deeper than simply playing the game. Rather, our programs are built around the philosophy that soccer’s interpersonal environment has unique potential to meaningfully impact participants. Within that environment, youth are exposed to the benefits of soccer and team sports for their bodies, voices, and minds, and supported in the application of these benefits to their everyday lives and future goals.

When it comes to marginalized populations such as refugees, soccer offers an accessible, familiar space to build friendships and social capital, gain confidence, experience success, acclimate to new surroundings, and heal.

Soccer provides an avenue for positive engagement, a platform for personal growth, and a toolkit for a brighter future.

So as we roll into summer and get excited about the Euro tournament, consider putting a few dollars towards some organizations that are doing something positive through soccer to benefit people who could really use the help.

What we Want to Believe...

So I just finished reading the latest blog entry from the well-respected CEO of a smaller, independent Swiss watch brand.  While a fair bit of what he had to say was spot on, a lot of it just didn't ring true for me.  This is not to imply that what he said was false, because no doubt he truly believes what he is saying.  It is to say, however, that coming from a certain perspective we tend to believe what we want to believe.

As the freshly minted owner of my own brand, I can agree that there is nothing easy in this choice of business.  But having worked for and with a few brands as well as in other industries (including coffee), I can also say that the challenges are in fact no different than those faced in just about any other industry.

I will share with you what I think is wrong with the industry - our industry, and I encourage reader participation here!

Today's topic is:

1.  Unrealistic Expectations -
These exist on several levels and with several "shareholders".

The watch customer believes that "that right watch" is going to change everything!  He'll lose weight. That promotion he's been after will fall into place.  His kids will grow into normal functioning adolescents who can sit still in the same area code for more than 1 minute.  In short, he will be that good looking fellow in the Patek Philippe ad.  Beautiful chronograph on his wrist, tow-headed young scamp by his side actually listing to ANYTHING he has to say.   Essentially the life that we all felt sure we would have, that we now see rapidly disappearing down the lobby of broken dreams.  But more importantly, the customer believes that the watch (regardless of price point) is going to work flawlessly, is impervious to any sort of manufacturing defect or real-life damage.  The customer has oftentimes lost sight of the reality that it is an imperfect world, and sometimes things happen.  This disillusionment can fan into downright frustration, anger and agitation when a service issue rears its ugly head.  Remember the watch store that called you once a week until you bought that moon-phase chronograph?  Now they are avoiding your call like the boyfriend/girlfriend that they just broke up with.  You are a "service" concern now and not their problem.  And to be clear, expecting the retail partner to take care of you after you bought something from them is NOT an unrealistic or unfair expectation.  It is, however, unrealistic in the current business climate of sales first, service when we get around to it.

The watch salesperson - who let's face it, might have a tow-headed young scamp of his/her own that they want to make sure doesn't end up in reform school.  They need to make the sale.  Moreover, chances are quite good that in fact, your watch salesperson knows about as much about a perpetual calendar as your Cocker Spaniel (and point of full disclosure, me).  I'm right there with your Cocker Spaniel - I am no authority about complications, etc.  No offense to the dog, she works for kibble.

There are a handful of TRULY AMAZING watch sales people out there.  But this is more of a calling for them than a way to pay the rent.  Those who are good and whose talents are recognized can do very, very well.  Those who are phoning it in (and sadly it is likely those are the folks who you might be dealing with) will manage to hit every "frustration button" that you own.  But in fairness, this was not their calling, it is not their "vocation".  It is a job. The point being that the good old days when you could count on your salesperson actually knowing everything that you do (and more) are probably gone.  But in fairness - that is merely an indication that your passion and interest are highly attuned.  The Internet, watch magazines, interest groups, etc. have empowered you as a customer to know A LOT about a potential purchase.  But it is also important that we then align our expectations with reality.   Take what a typical salesperson will be paid, multiply it by your highly developed knowledge, then divide that by the store overhead... you can see where I'm going with this.  As I said, there are some truly amazing sales people out there.  You just might not get the opportunity to meet them.  I worked for Tourneau and enjoyed my time, but realized that it was, at best, a hustle to make your sales goals.  I would like to see the truly exceptional sales people be recognized.  Maybe some day...

The watch brand who wants you to believe that there is this unbelievably close relationship between you and them... but let's face facts.  You are a number.  They are not here to hold your hand and make you feel "empowered" or "fulfilled" by your purchase AFTER you buy the watch.  The only exception to that I have seen is Jean-Claude Biver's participation in the various Hublot fora.  He is the "exceptional exception".  Sadly, he is truly one of a kind in this sense.

Otherwise, those "affirmations" were provided for you during the "courtship" phase when you saw each other across a crowded room.    the honeymoon is over.  You bought the idea of the watch and what the watch represented.  Sorry, but there typically isn't "couples therapy" for watch & dissatisfied watch buyer.

The REAL OWNERS of the watch brand think a brand is making all of the decisions?  Think again!  The real people calling the shots (albeit sometimes indirectly) the various boards of directors who are responding to the stock.  Wonder why a seemingly very famous brand with very expensive watches has a "boat-load" of them for sale through grey-market channels?  Simple - produce more, therefore you sell more.  Not always.  But the beauty of the grey-market is that it still counts as a sale!  The board is happy because the CEO listened to their plan.  The CEO is happy because he/she manufactured and sold the watches.  The Brand Manager is happy because he/she hit their sales targets.  The independent retail partner who is dealing fairly - ordering, paying co-op advertising fees, and NOT dumping their watches at 30 - 40% off - well, that's their problem.  And the customer who paid full retail?  Perhaps the less said the better.

But there is a solution!  Stay tuned!