The Last Man Standing

Well, at Richemont it would appear to be Jérôme Lambert.  For many of us, this had been a forgone conclusion for some time.  It was never going to be a tenable solution for the long term, putting two alpha males at the same perceived level with the ultimate prize only available to one of them.  Not unlike Thunderdome, two men went in, one man came out.

I know that sounds a bit dramatic, but when you are talking about getting the corner office after that many years of service?  Well, let's just say that if you felt strongly enough that you were not going to be at the final rose ceremony, you might set out for potential pastures greener in say, I dunno', Grenchen.  Put more simply, you don't tend to walk away from the biggest pot of your life if you think that you have the winning hand.  

It also bears mentioning, that it is entirely possible that this was not exactly the way it was planned, but Mr. Kern's surprise departure to play Head Pilot at Breitling might have forced Mr. Rupert's (and Richemont's) hand.  

It has been a drama full of twists, turns and palace intrigue.  But for now, it appears that Mr. Lambert has won this particular game of Powerball.

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.