JLC Reversal?

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

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

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

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

Well, yes and no.

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

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

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

If Price Were No Object

I am, by and large, not a huge fan of many of Jaeger-LeCoultre's watches. There, I've said it.  

Now some things about JLC as a brand I like very much.  Not least of which is their understanding that being the CEO does not require you to possess the Y chromosome ; )

And they do make one watch that has held my attention for quite some time, the Reverso.  But not just any Reverso.  In the not-so-distant past JLC began producing the Reverso Tribute Small Seconds.  The Reverso, with a twist.  A colorful dial that truly stands out.

Courtesy of Jaeger-LeCoultre

In a world of black dialed divers and silver/white dress watches, this one stands out.

Now when we talk about pricing, let's be honest, it is not for everyone with a sticker price of $7,650 before the sales tax.  But some things are worth it.  And for me, if price was not an object?  This would be on my wrist!

Here are the pertinents -

Case
Stainless Steel, Water-resistance - 3 bar, Dimensions (L x W) - 45.6 X 27.4mm

Movement 

Jaeger-LeCoultre Calibre 
822/2
Manual-winding
Hours, Minutes, Seconds

Dial
Burgundy red, sunray-brushed, appliqued hour-markers

Strap
Leather

Don't Get Emotionally Attached...

I think if there was a "training book" for writing about and reviewing watches, this would be the very first lesson that would be imparted.  When I worked at Tourneau, one of the big-wig training guys was out to train our rag-tag San Francisco bunch.  And he told me flat out - "I worry about you".

He could see the glint in my eye, like Chet Baker before me, I fell in love too easily…

Courtesy of Bell & Ross

But I don't think you could really blame me.  I reviewed this watch some months back, but it is still haunting me.  This wonderful Bell & Ross chronograph.

Richemont and the Hunger Games

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

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

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

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

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

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

The Green Atmos - an Update

So regular readers might remember a post over a year ago about my laying hands to a Jaeger -  LeCoultre Atmos clock.  It had been pretty badly neglected by its previous owner.  And the first stab at restoration was little better than a stab - quite literally.  Finally, after a second service with the oversights of the first restoration effort revealed - it became quite clear that this is a clock with a lot to give.  So the clock is back, and we are now in the "regulation" phase making minor adjustments - and with luck in a week or so she should be completely settled down and running without flaw. 

Something intriguing from Baume & Mercier

Okay, while my "rescue mission" Baume et Mercier Classima is in the "critical care" unit of watch repair, I thought I'd have a peek at what the new wave from Baume et Mercier has to offer.

Courtesy of Baume et Mercier

This is part of the current Capeland collection.

If you have not seen the Ken Burns documentary on Frank Lloyd Wright - I highly recommend it.  In it, Philip Johnson (of the Glass House) spoke about the beauty of the Johnson Wax building in Racine, Wisconsin.  And what I was struck by was the refusal to make something "average" just because it was an office building.  In a time where row after row of identical skyscrapers shot up like weeds, Wright went the other way.  And that same sort of refusal to abide mediocrity is what I feel when I look at this watch from Baume et Mercier.

I can imagine what a lot of marketing and sales meetings sound like in the watch industry - having sat in on numerous ones myself -

"We need a chronograph."
"We have a chronograph!"
"No, something sporty..."
"I know, we'll take model X, and give it a black dial, and a carbon fiber style strap!"
"Perfect!  How soon can it be ready?"
"No time at all, we just need to change the dials on model X!"

YAWN....

This is something completely different - and special.  A beautifully imagined bi-compax chronograph with a La Joux-Perret 8147-2 flyback self-winding movement.  A tachy-tele of the first order!  And in this case, although beauty is more than skin-deep, this is a watch in which the outer beauty matches the inner beauty.  Rather than just going down the line and slapping together components, this is clearly designed with the whole picture in mind.  The result is a beautifully balanced, timeless design.  This is a watch that will be handed down from generation to generation.

When I think of a watch like this, I am reminded that Baume et Mercier is not just the quiet, middle sister in a family of over-achievers (Panerai, JLC, IWC).  

Baume et Mercier has quite a bit to offer, and does so in a wonderfully refined way.

And for the details obsessed of you out there, here they are:

CASE

• Size: 

  44 mm
• Shape: 

   round
• Material: 

  steel
• Finishes: 

   polished/satin

  finished
• Crystal: 

  "chevée" shaped sapphire, antiglare treatment
• Case back: 

  sapphire crystal
• Thickness: 

  16.5 mm

MOVEMENT

• Movement: 

  manufacture, automatic, La Joux-Perret 8147-2
• Functions: 

  flyback chronograph, tachymeter, telemeter, date

  
  

  DIAL

  • Features: 

    off-white, Arabic numerals
  • Hands: 

    blued steel

  BRACELET

  • Material: 

    alligator
  • Color: 

     black
  • Clasp: 

     pin buckle

  OTHERS

  • Water-resistance: 

    5ATM (approx. 50m)

www.baume-et-mercier.com

The Sterling, Cooper, Draper, Price Reverso

Here is the latest from JLC -

25 custom-created and numbered pieces of The Grande Reverso Ultra-Thin Tribute to “Mad Men”  will be available in February 2012.

Courtesy of Jaeger-LeCoultre

The Reverso - seeing RED!

Courtesy of Jaeger-LeCoultre

Harkening back to another time, Jaeger-LeCoultre announced the reintroduction of one of the most iconic Reverso's of the past -

Courtesy of Jaeger Le-Coultre

This is Jaeger-LeCoultre's Grande Reverso 1931 Rouge, coming soon to a boutique near you!

Summer reruns - a few minutes with Maximilian Busser

A Few Minutes with Maximilian Busser

JH - What was your first watch? Was it a gift? Is there a story behind it?

MB - I was 8 years old. It was a hand - winding Jean Perret and every evening I would religiously wind it up in front of my father when he would come to say good night to me. I remember the winding would hurt, because the crown was so small…

JH - A bit about yourself please - you started out with Jaeger-LeCoultre and stayed for 7 years. But then you left - why?

MB - I had no intention of leaving! And then one day one of the top headhunters in the world (who only hunt top executives), called me up. I was intrigued… “Why would he call a small fry like me ?”, so I went down to Geneva for an interview with them. It turned out the job position was Managing Director of Harry Winston Timepieces! I laughed out loud, but the headhunter convinced me of trying the interview. I thought anyway I did not have a chance to get the job, but it could be fun. Then four months later, to my dismay… they told me I was the “chosen one”!

JH - So then after Jaeger-LeCoultre you went on to Harry Winston - this was a very large jump in terms of the types of company "profile" - from a world-class horology based type of company, to a jeweler turned watch maker - why such a jump?

MB - Because when you have never expected or dreamt of such an amazing job (head of a watch brand), the day someone gives it to you on a platter, you just cannot turn it down without having regrets all your life. Clearly I had my reservations on leaving such a beautiful company as JLC, a real Manufacture which devotes all its energy to creating fantastic mechanical calibers, to join a jeweler! But Ronald Winston (son of Harry, and then owner of the company) found the right words to convince me to join. He basically told me he would give me the freedom and support necessary to turn the brand into one of the most admired watch creators, when it was already one of the most prestigious jewelers in the world. He kept his word and let me follow my own path to develop Harry Winston Timepieces. 

JH - When you were a boy - what did you want to be when you "grew up"?

MB - A car designer. I was obsessed with this idea - doodling cars from the age of 4 to 18 ! And then my 5 years of studying engineering at university sort of killed that. I suspect that maybe I was kind of depressed during those years, and really did not connect with what I was studying. 



JH - Where did you go to school - what did you study exactly?

MB - I did a Masters in micro technology engineering. Not my most inspired choice, but it introduced me to watch making (5 hours of courses amongst 5 years of studies!) which became my passion and my life. In my life, the brightest light has always followed the darkest moments. 

JH - Who else is making watches that excite you?

MB - A few real creators/watchmakers who create not to please clients but to follow their calling. For example Felix Baumgartner (Urwerk), Denis Flageollet & David Zanetta (DeBethune) or François Paul Journe (F.P.Journe)


JH - MB&F is Maximilian Busser & Friends - where did this idea come from?

MB – It was really a matter of simply stating the obvious. Without all those amazing people around me, my ideas would just remain ideas. And I have chosen the “Friends” as much for their fantastic competence and ability as for their/our shared human values. I discovered early in life that by being totally transparent, one had nothing to lose - on the contrary you have everything to gain. 

JH - What do you like to do in your "down-time"?

MB - What “down time” ??? In the last 5 years, since the beginning of MB&F, the little time I have not been working I have devoted to my family, loved ones and friends. There was no way I could build my dream company without sacrificing hobbies, sports and social life. 

JH - How does MB&F work on a daily basis?

MB - Fast! All joking aside, MB&F is a very small, adrenaline - addicted beehive! There are only 7 of us in the company (including the two Master watchmakers who assemble every movement). It is the type of place where everyone works as if it were their own company. That is also one of the most important reasons of our success. 

JH - It appears that you spend a good amount of time meeting your fans and customers - what is your favorite spot to visit so far?

MB - I love travelling in Asia – it is so vibrant, so energy - driven, so forward-thinking! Everyone looks to the future, contrary to Europe where everyone looks back and tries to hang on to a grandeur which was once theirs. 

JH - Why watches?

MB - Because it is one of the only technical working environments where each human being is important and each person can make a difference (contrary to cars for example, where only massive corporations can hope to exist and where individuals are more or less expendable)

JH - If you weren't doing this - what would you be doing?

MB - I don’t know. I already have issues grasping the fact that I am so lucky! This is my life. This is my calling. 


JH- Who was/is your "horological hero"?

MB - Günther Bluemlein, the man who recreated Lange & Söhne, and the ex-CEO of Jaeger-LeCoultre and IWC. Visionary, charismatic, engaging, knowledgeable and caring for the individuals he respected.

Visit Maximilian and read about him and all of his friends at -

www.mbandf.com

Happy Birthday Reverso!

Reverso celebrates its 80 years of history

March 4, 1931 – 2011

2011 is the year of the Reverso which celebrates 80 years of rich history, having adorned the wrists of polo players and illustrious personalities. Yet, before we can begin to glorify these eight decades of watchmaking history, we need to go back to 4 March 1931, when it all began.

Looking back to 4 March 1931, at 1:15 pm, at the INPI (National Industrial Property Institute) in Paris: René-Alfred Chauvot officially patents his invention of a "wristwatch which can slide on its base and flip over on itself”. A unique and ingenious invention: the Reverso watch is born!

Yet another secret of the now legendary reversible watch that Jaeger-LeCoultre is proud to deliver to all lovers of history and fine watchmaking! To mark this date of 4 March 1931 forever in the Manufacture history, Jaeger-LeCoultre wanted to celebrate this anniversary in grand style across the world!

After its Virtual Museum to which stories and exceptional items are added every day, and its Treasure Hunt completed symbolically this 4 March 2011 to mark the patent’s anniversary, the Reverso has not yet divulged all its secrets…

Jaeger-LeCoultre has other treasures and watchmaking tales in store to share throughout the year

Join us in this extraordinary adventure online

http://reverso.jaeger-lecoultre.com

And check out the celebration fireworks today on Jaeger-LeCoultre Official Facebook page:

http://www.facebook.com/jaegerlecoultre

***

Something new from Jaeger-LeCoultre

This just in from Jaeger-LeCoultre -

And in the words in Jaeger-LeCoultre -

Driven by Jaeger-LeCoultre Calibre 978, the Master Tourbillon laid a prestigious milestone in the history of horological accuracy by winning the Chronométrie 2009 International Timing Competition organised by the Watch Museum of Le Locle. This caliber no longer powers the distinguished Master Tourbillon alone, but now also beats at the heart of two other horological creations bearing the prestigious signature of the Manufacture: the Master Grande Tradition à Tourbillon 43 and the Master Date Tourbillon 39




 www.jaeger-lecoultre.com

New Reverso Update

An important clarification on the new Reverso - 

The steel version of “Tribute to 1931” is NOT limited.  Good news for those of you out there wanting the steel version!

The pink gold version of “Tribute to 1931” is limited.

Jaeger-LeCoultre Grande Reverso Ultra Thin

Photo Courtesy of JLC

Birthdays - they are events that we all look forward to when we are young, but maybe not so much as we pass the north-side of 30.  But when it comes to an iconic watch like the Jaeger-LeCoultre Reverso - birthdays are a big deal, and the 80th is one that is shaping up to be very special indeed!

JLC, Polo and the Reverso

Necessity it has often been said, is the mother of invention.  This was indeed the case back in 1931 when Jaeger-LeCoultre gave the world the Reverso.  The Reverso was an answer to what was becoming an increasingly frustrating problem - watch crystals being destroyed while playing polo.  The solution was to create a pivoting watch case that would enable the main case to be literally "reversed" so that it was dial side down.

Photo courtesy of Jaeger-LeCoulture

As you can see, the reverso is still involved with top-flight polo and world class polo players.  This is Eduardo Novillo Astrada of Argentina, and a member of a proud family of polo champions.


More to come as the 80th Anniversary of the Reverso approaches.  Thank you to the nice folks at JLC for the details!




www.jaeger-lecoultre.com