The Transfer Window Opens (for the FOURTH TIME IN TWO YEARS)

At Tag Heuer...

Courtesy of Tag Heuer

In the interest of transparency, I have about as much interest in the machinations of Tag Heuer and the LVMH watch stable writ-large as I do in hemorrhoid treatment. Actually, that's not fair. If and when I do develop hemorrhoids I suspect I will have more than a passing interest in the healing properties of Preparation H. But as they say, sometimes you have to lance a boil, and as this is outlet that talks about watches (allegedly), I guess we have to give "mighty Tag Heuer" some air time.

Okay, let's get to the heart of this. I have no doubt that the new person in the hot seat is probably more experienced and capable than the winners of the Arnault Family DNA Olympics. And add to that, Ms. Goasglas has been with Tag Heuer since 2018, and held some pretty big jobs with them. And it doesn't hurt that she is French, because although HQ is in La Chaux-de- Fonds, the real marching orders are coming from an arrondissement several train stops North by Northeast.


The timing is a wee bit quirky as well, why hold off for May 1? There is a little event that some people say is even more prestigious that The HYPE NYC ; )

The real question is this - what the f&*k has been going on at Tag Heuer and LVMH's watch division? Hublot has become an afterthought, and Zenith is starting to operate from the Sunk Cost Trap theory of business -

https://www.henkitime.com/2017/04/the-sunk-cost-trap.html

So what I'm driving at is this: for all his faults - and he has more than his share, the LVMH watch brands (Hublot, Tag, and Zenith) under Jean-Claude Biver's oversight at least seemed to know what they were doing. Or in Zenith's case what they were trying to do.

Regardless of the heroes and zeroes of the (recent) past, we at Henki Time wish Ms. Goasglas bon chance and Godspeed.
Tag Heuer may just be a dog that won't hunt, but we shall see.

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 Okay, that example might be out of date, but take your young child's current enthusiasm and insert it here ; )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 ; )

Reheated Leftovers - I Could Do It Better Myself - The Sales/Brand Manager

This first came out several years ago, but still rings true ; )

I Could Do It Better Myself - The Sales/Brand Manager

5:30 AM - The alarm goes off, and tempting though it may be to hit the snooze, you pull yourself out of bed, jump on your Peleton and commit yourself to another 30 minutes of fitness.

6:50 AM - Showered, you make yourself presentable, grab a coffee and fire up your laptop for the weekly video conference with HQ.

8:15 AM - your daughter calls to remind you that as it is your weekend, she will be waiting for you outside of school following STEM club at 4:00 PM.  You make a note in your phone and set the alarm for 3:45 to remind yourself.

9:05 AM - safely settled at your desk, you scroll through the "Butcher's Bill" to try and figure out why you got blindsided a few hours ago when HQ informed you that:

1.  You need to close Retail Partner A.  No real detail given.

2.  You need to continue to extend credit to retail partner Z, even though they have not paid their invoices for the past 5 months, hit you with $26,333 of "co-op" advertising expenses, and requiring a "junket" for the owner, the owner's current (not his wife) girlfriend, their assistant manager and 2 of their "loyal" customers to visit the HQ, factory, and maybe, you know if there's time, ski a little...

While reviewing all of the internal and external communication, you happen to glance up at a map of Los Angeles and it all becomes clear.  Retail Partner Z is opening up a new "f - you" store literally across the hall from Retail Partner A, and demanding (literally) that your boss in Switzerland cut off Retail Partner A.  You then remember one of the pictures on the wall at HQ in New York with your boss, the girlfriend (not wife) of your boss, Retail Partner Z and half of the Los Angeles Lakers, courtside at the Staple's Center.

And of course, it just so happens that you are based in (or at least near) Los Angeles...

10:00 AM - Retail Partner A's store has opened.  You meet the owner and the two of you head out of the mall to a nearby restaurant so that you can speak in private.  Retail Partner A was the first store you ever opened an account for your first brand, some 20 years ago.  To his credit, Retail Partner A says he totally understands, he has seen this coming.  You personally really like Retail Partner A.  He and his wife have always sent your daughter both birthday and Christmas presents.  They insist on picking up the check even when they are your guests, they are old-school, shook Sinatra's hand type of retailers.  You excuse yourself for a few minutes, go out to the street and call your boss.  You explain that as a sign of good will, you need authorization to buy back the product.  Considering that most of it is still untouched (as it was just delivered 3 weeks ago), in the wrapping, you can simply walk it across the hallway to Retail Partner Z when they open.  Your boss is in agreement so long as 90% of the pieces are re-sellable.  You do the mental math (you looked at the safe count while you were speaking with Retailer A, and there are 13 pieces that have some wear, which tips it to 15% of the inventory.

You go back in, tell them exactly what your boss told you, but suggest that they take 6 of the slightly worn pieces that are the most likely to sell, and blow them out at 40% off, ensuring that the store can make 10% profit off of them, and be in compliance for the buy-back.

You suggest an early lunch (it is now 11:45) and once again, Retail Partner A grabs the check and will not let you pay.

12:50 PM - You walk Retail Partner A back to their store, and take a moment to make some calls before your next appointment - 175 feet across the mall's "hallway" to visit the soon to be opened 5th location of Retail Partner Z.

Retail Partner Z makes you wait a good 20 minutes in the construction area.  Once done, Retail Partner Z excuses himself, and Junior (second born son) takes over the meeting.  In a very short timeframe (less than a year) Junior has managed to piss off every brand rep he has come in contact with, and driven out more than half of the sales staff at their flagship store in Beverly Hills.  You have resigned yourself to simply nodding and smiling.  But Junior wants to flex his muscles and decides to get pissy with you anyway.  He demands to know why Retail Partner A still is carrying your brand.  You explain that they (Retail Partner Z) will have the exclusive rights the day that they open - which is still 45 days out.

2:00 PM - Junior says - "Hey, I'm hungry.  Buy me lunch and we can talk about our order".  So off you go to lunch #2.  Junior, although he drove to work, decides that a few bourbons would be a good idea on a hot Los Angeles afternoon.  You pay the check (a little over $200 with tip), and Junior says that next time you need to go somewhere nicer - "You guys need to stop being so cheap!".

You walk Junior back to his car, send your best regards to his dad, and hope like hell he does not get stopped by the cops.  3:00 PM is a bit early in the day, but he insisted.

You walk back through the mall to pick up the book your daughter asked you to order on Amazon, and as you're walking to the garage, you hear someone calling to you.  You turn to see your fried Julia, who is the district manager for Unobtainium, one of the hottest watch brands that is finally going into independent retail.  She has just finished meeting with Retail Partner A, and is happy with the outcome.  She thanks you for the referral, and comments on how much people must love them as flowers and two gourmet baskets arrived along with 2 bottles of champagne during her pitch.  You make plans to see each other at the Las Vegas shows in June, and hop in your car.  You make a mental note that you will not be able to submit the gift baskets and flowers on your expense account as they are not part of your approved expenses.

3:45 - The alarm on your iPhone goes off, just as you are rounding the corner to pick up your daughter.  Yes, you are early, but you savor the moment, listen to the last 10 minutes of your podcast, and think about the weekend. 

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 Arsham Droplet

From Hublot -

Courtesy of Hublot

I know that you can't discuss Michelin star restaurants without bringing up molecular gastronomy...

Courtesy of Hublot

But in in truth? There is nothing more frustrating than dropping several hundreds (if not thousands) of dollars only to feel the need to hit In-N-Out on the way home for a Double/Double Animal Style -

Shamelessly borrowed from the world-wide infoweb

For those of you tuning in from outside of the US West Coast area:

Animal Style is a popular item on In-N-Out's secret menu that can be ordered for burgers, fries, and other menu items. The burger includes the following toppings:
Mustard fried into each patty
Pickles
Chopped grilled onions cooked in the meat juices on the griddle
Extra Thousand Island spread
Lettuce
Toasted bun

 

Me personally? I opt out of the Thousand Island and cheese but double up on the mustard and add raw onion. But hey, that's just me ; )

But back to the matter at hand -

Courtesy of Hublot

Just as fine dining has molecular gastronomy, watch making has, well, this...

Some of my feelings about the business of watch marketing - and the ludicrous nature of what gets covered by the big-dog watch press are summed up quite nicely in this collaborative release. On the one hand? It is cool! No argument from me there. In fact, I would go so far as to say that it is super cool. With that being said, it is something that 99.999999% of the watch buying world can't afford. It's a little like only promoting Porsche and Rolls Royce. I'm no expert, but I am willing to bet that more motorists out there are familiar with farfegnugen as it applies to their VW than some fantasy vehicle they will never even sit in at an auto show...

And here I am conflicted once again. Watch Town needs to blast out the stink every now and then. And in fairness, the Arsham Droplet does just that. It is a beguiling object. Unfortunately, for the 99.999999% of you out there, it remains just that. And that's okay. There is nothing wrong with expensive and exclusive things, don't get me wrong. I just wish that as an industry, Watch Town could accept and understand that times have indeed changed from the the rockstar devil may care spending of the not-so-distant past.

So, if you are in the 00.000001% and have the means (USD $88,000.00 worth), here are the details -

REFERENCE
916.NX.5202.NK

SIZE
73.2 x 52.6 mm

CASE
Shiny Microblasted Titanium with Green Arshm Rubber Bumpers

BEZEL
Shiny Microblasted Titanium

WATER RESISTANCE
30m or 3 ATM

CRYSTAL
Sapphire with Anti-reflective Treatment

DIAL
Semi-matte varnished, Arsham Green

MOVEMENT

HUB1201 Manufacture MECA-10 manual winding Grey PVD treatment - Luminescent Green Arsham Power Reserve Indicator
POWER RESERVE
240 Hours

ACCESSORIES
NECKLACE & POCKET CHAIN

• Necklace : Full Titanium with Polished Links / Shiny Microblasted Clasp and One-click Tip.
• Pocket Chain : Full Titanium with Polished Links / Shiny Microblasted Carabiner and One-click Tip.

TABLE STAND
Microblasted Titanium / Polished Green Arsham Sphere and Mineral Magnifying Glass.

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 ; )

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.

Brand Ambassador Bingo - The "Free Brittany" Edition

Dear LVMH (and frankly every brand out there),

Consider this your wake-up call. It's time to free yourselves, and free your celebrity partners from the Squid Game that is brand ambassador bingo.

Courtesy of Netflix

So right off the bat, I want to make something crystal clear - the topic of today's post is on the public conduct of brand ambassadors, and why brand ambassadors can all too often come back and bite you in the hind quarters. Brands typically like to have an ambassador that is in the news for positive things, and tends not to be on a soapbox venting his/her spleen. 

So to be clear, this is not a post (or debate) about whether or not vaccines work, whether COVID19 is real as opposed to a plot cooked up by some secret cabal bent on world domination, or even whether or not Bigfoot exists. (As far as Sasquatch goes, I have an open mind).

It is fair to say that the celebrity wranglers in the watch division at LVMH might be reconsidering some of their recent choices. For better or worse, since the somewhat goofy reign of Nataf, Zenith has struggled to fully understand who they are as a brand, what type of  brand they are and how to gain traction in a world chock full of high end manufacturers. All this while coexisting in the fishbowl of a watch group that never met a famous brand ambassador, partner, friend of the brand it didn't like. 

Enter -

AARON RODGERS

"As the top rated quarterback in the NFL and a living legend in American football, Aaron Rodgers knows what it means to reach your star, and do it with impeccable timing." 

At least, that's how Zenith saw it when they signed him to be the face of the brand in North America. I will say I find it intriguing that the folks in Le Locle seem to have an almost fetishistic desire to sign NFL quarterbacks to represent them, yet they also seem to have a knack for picking these guys just after they've reached their "zenith"... see what I did there? Sorry, too soon?  It is a "thirst trap", and apparently they're still thirsty.

Now as someone who prides himself on speaking his mind, I respect Mr. Rodger's right to say or do as he pleases. But then again, Zenith is not dropping tons of cash in my bank account or duking me with multiple chronographs. And as you can tell by looking at the site, I am not courting multiple advertisers.

One other interesting thing to consider in this particular sideshow is the sudden about face of conservative media outlets (and more than a few conservative watch retailers in California) who previously told Colin Kaepernick to stand, and for LeBron James to "shut up and dribble", who demanded that everyone respect the President of the United States... and interesting that many of these same people now laud Mr. Rodgers for his "I don't give a f___!" approach to public relations, and his assertion that the White House is "fake". I would like to think that with the benefit of an undergraduate degree from Cal Berkeley he could have been more eloquent. It's clear that the difference between being a spoiled athlete who should clam up and stick to sports, and being a "freedom loving not afraid to speak his truth individual" is all about perception...or shades thereof.

And speaking of  "challenging" friends of the brand, we come to Hublot. FIFA is a no-win situation unless you concur with FIFA's president, Gianni Infantino's assessment that holding the World Cup twice a year will prevent the death at sea of African migrants -

https://www.theguardian.com/football/2022/jan/26/fifa-gianni-infantino-biennial-world-cup-could-save-african-migrants-from-death-in-the-sea

And hey, if it just so happens to put some more cash in his and FIFA's bank accounts, what's the harm?

Floyd Mayweather's selection as an ambassador raised such a stink with one NYC based watch maven that they swore they would never darken the door of any event Hublot hosted! That resolve lasted about two weeks. A press lunch with free flowing champagne and an audience with Jean-Claude Biver must have mitigated this individual's (self) righteous indignation.

As it applies to his tennis, and a lot of the really cool things he has done with charity, I am a fan of Novak Djokovic. That being said, one particular irony was this little missive from 2020:

https://novakdjokovic.com/en/news/media/novak-jelena-and-the-ndf-donating-1-million-euros-to-help-serbia-fight-covid-19/

Now before anyone goes crying "fake news", this is from Mr. Djokovic's own website. 

And once more, this is not a post about vaccinations, COVID mortality or the Loch Ness Monster...although I have seen Champ on the Vermont side of Lake Champlain 

Courtesy of https://www.lakechamplainregion.com/heritage/champ

Now that the humor is dispensed with, let's talk about why these situations are bad for business (and public health and the fabric of society).

In Aaron Rodger's case, he is absolutely free to say and feel what he does. That being said, he is a public figure, and as such he is going to come under scrutiny - you take the rough with the smooth. Unfortunately, Mr. Rodgers is serving up his dissatisfaction with a LOT of fairly random and wide-ranging anger and open hostility, and that is never a good look for a brand ambassador. He is now at the center of what is becoming an even more heated and pointless debate. The heated aspect is understandable as there is a ton of anger on both sides. The debate is pointless because neither side is showing any side of changing their mind. It is essentially like pissing into a cup of coffee believing you'll improve the flavor, but you simply end up ruining it for yourself and anyone else.

In the case of Mr. Djokovic, there is probably too much to unpack, but the short form is this - Australia is (sorry Mr. Djokovic Senior) a sovereign country, and their rules are their rules. You don't have to like them, you don't even have to agree with them. But you do have to respect them if you wish to be a guest in their country. What you do in your own place is your own business. That being said, Djokovic the Elder beseeching Queen Elizabeth to intervene as Australia was a Commonwealth country added a bit of slapstick to an otherwise sad and jingoistic pastiche. I am fairly confident that every so-called western country has not and is not actively conniving to keep Mr. Djokovic the Younger from remaining the number 1 tennis player in the world. Although as bat-shit crazy theories go, the idea that the "EVIL WEST" could get its collective act together enough to hatch such a diabolical plot is the stuff of conspiracy theory legend. Consider this, we can't even all agree to use kilometers as opposed to miles, or to all drive on the right hand side of the road as opposed to the left. Or even whether pants are underwear or in fact trousers. The fact that Djokovic the Elder thinks that we are that well organized (and cunning) is flattering, albeit downright laughable. Let's hope some time off and a cool drink (not Kool Aid) will help him get back in touch with his better angels.

In not so distant times, I was responsible for seeking celebrities (both mighty and small) to partner with various brands. And in truth? I was always anxious about it. The rule of thumb was (and probably remains) -

Everyone loves puppies / Nobody likes cancer

Unfortunately, the world of celebrity partnerships seems to be rife with situations that morph into "cancer puppies". And ultimately it serves to remind us of a few important facts of life, not the least of which is that these are people, actual human beings. Just like any "normal" person, for all of their talent, beauty and strength, they are just as flawed as the rest of us. They are just as vulnerable, just as prone to imperfection, just as human. 

So maybe its time to let these folks step down from the pedestal and let them be themselves, let them be "mere mortals". Whether we agree with them or not, particularly in these volatile times, maybe we need to remember what the Police once shared at another tense moment -

"We can all sink or we all float
'Cos we're all in the same big boat"

Free the Ambassadors!

Watches and Wondering - Waiting for Godot

With the dearth of new releases out there, and the notable silence from the fair's organizers, it is seeming less and less likely that 2022 (at least March/April) will see the return of large scale, in-person watch fairs in Geneva.

Credit: https://www.imdb.com/title/tt0276613/

On the one hand, it appears that the latest COVID surge has peaked in several countries. But reaching the peak does not put us back to a safe infection level... at least not yet. Geneva is one of the strictest cantons in Switzerland in terms of health and safety policy, and for all of the foreign buyers and press that hope to come to attend a show there are quite a few hoops that they will have to jump through - I say this having travelled in September and November. And that's just to get into Switzerland. I will also make clear that I agree with Switzerland's stance. Which I guess means that Novak Djocovic won't be making any personal appearances at the Hublot booth in the near future.

China and Hong Kong represent the largest block of customers for Richemont and most likely LVMH and Kering. For those folks, getting to Switzerland is one thing. Coming back home? Well, that's quite the other. Lengthy quarantine requirements have marked a significant drop in travel both from and to this region. So with all of that being said, I don't expect that a lot of these folks will be opting to attend. And let's not even get started with the US, where (for better or worse) public health and safety has become more of a political issue than, well, a health and safety issue. Unless the Swiss government opts to drop the vaccination requirements for entry at the Zurich, Basel, and Geneva airports, a large swath of folks from North America will be staying home. 

That leaves the Middle East, Africa, South America and parts of Europe. This is not to say that these are not important markets or customers, but it is to say that they do not, unfortunately, represent the same percentage of turnover for the brands.

And lastly, there are the organizers of the show itself. Watches and Wonders, along with its predecessor the SIHH, went to great lengths to create an atmosphere of not only exclusivity, but exclusion in the past. And while it might be "the only game in town", I give Watches and Wonders about as much consideration as I do NOMOS
Glashütte, which is to say I don't consider it at all.

The Big Bang Unico Summer

From Hublot -

Courtesy of Hublot

This is an online exclusive from Hublot.

Here are the pertinents -

CASE

REFERENCE
441.UB.5120.NR
DIAMETER
42 mm
CASE
Satin-finished and Polished Turquoise Anodized Aluminum
BEZEL
Polished Turquoise Anodized Aluminum
WATER RESISTANCE
100m or 10 ATM
CRYSTAL
Sapphire with Anti-reflective Treatment
DIAL
Matte Turquoise Skeleton

MOVEMENT

MOVEMENT
HUB1280 UNICO Manufacture Self-winding Chronograph Flyback Movement with Column Wheel
POWER RESERVE
72 Hours

STRAP & CLASP

STRAP
Velcro Strap in Turquoise Knit, Turquoise Stitching

CLASP
Sport Buckle in Polished Turquoise Anodized Aluminum