What I'd Buy Myself - A Boxing Day Bonus

I have always been a sucker for the Girard-Perregaux Vintage 1945.  And having spent a wee-bit of time with Stefano Macaluso for the Henki Time Podcast - Henki Time Podcast it is now a grail (I owe myself a quarter for using the G word).

Courtesy of Girard-Perregaux

It is, quite simply, perfect.

Now I know that square/rectangular cases are not for everyone, and it may not be your jam, but this one speaks to me.

Should you be so inclined, here are the pertinents -

The case is of gold, and measures 36.10 x 
35.25 mm.  

Hours, minutes, sub-seconds, large date and moon phase.  The movement is the GP03300-0062.

Obviously it is not a trifle, but if you can't treat yourself...

Why the Watch World Needs Stefano Macaluso

Regular readers will know that Girard-Perregaux has long been a personal favorite.  But not unlike the awkward kid with a crush on the head cheer-leader, that love was not always reciprocated ; )

I visited the GP HQ on one occasion some years ago and it left a lasting impression.  And if ghosts do exist, and I mean that in the absolutely most positive way, the ghost of Luigi Macaluso most definitely frequented the halls of the buildings in La-chaux-de-fonds.  If a corporate office could be said to be a romantic place?  Well GP was the watch fan's equivalent of Paris in Spring.

Curious to relate, I only recently met (at least face to face) another key person from Girard-Perregaux, Stefano Macaluso, this past March when he participated in the Henki Time podcast.  What was striking to me in that conversation was that although he was no longer with Girard-Perregaux (at least insofar as the daily operations although I believe that his family still holds a stake in the brand), was what I can only call a romantic notion about Girard-Perregaux.  And thank God for that.

In an age where watch brands are, in effect, losing their collective shit about what to do next, throwing money at influencers, slashing their advertising budgets with traditional media and dumping their over production wholesale into the grey market, here was a quiet, contemplative man speaking thoughtfully about the family business.  Other watch executives leave (or get asked to leave) a position and they take off on booze and drugged fueled jags.  Mr. Macaluso?  He grabs his bicycle and his sketch book and travels the world, documenting his impressions, and sharing them via instagram and facebook.  Many of us locked in our jobs had the opportunity to travel vicariously through him this past summer.  I guess my point here is that he is something outside of the mold of what is typical in the watch business.  

Whether it is a G-Shock you were given as a 10 year old, or your father's watch that you inherited when he passed on, watches do more than measure the time of our days, they mark the times of our lives.  And it is hard not to be romantic about that.

Now I am 51, no longer a young man by any stretch of the imagination, but I still feel those stirrings in that place where my heart (alleged by some not to exist) resides when it comes to some things, and Girard-Perregaux is one of them.  In all honesty?  We don't need more celebrity ambassadors, more watches made from "unobtainium", more limited-edition-partner watches with "watch news" (excuse me while I die laughing) outlets.  We need more artists, more poets, more dreamers.  The watch world needs people like Stefano Macaluso to remind us of the value of beauty, of thinking, of listening and of dreaming.

For now, something simple from GP to inspire.  Not too much, not too little, but to quote that other great commentator on watches, Goldilocks:

"This one is just right."

Courtesy of Girard-Perregaux

A Few Minutes With Stefano Macaluso

The latest podcast has dropped!

Stefano Macaluso joins us live, from BaselWorld!

A Few Minutes With Stefano Macaluso

Fall of the House of Macaluso

Word has trickled out over the past few days that the last remaining active family connection to to the man that pretty much willed Girard Perregaux back from the dead, has had his last day, and is moving on.  Per various social media postings, it appears that Stefano Macaluso has opted to leave the party.

For many of us, the sight of Antonio Calce's rapidly disappearing backside was a sign that things might improve.  And me personally?  I had hoped that maybe, just maybe Mr. Macaluso the younger would step forward to take a more active role.  And if I am completely honest?  I don't know that he would have necessarily done any better than the fellow who recently received his walking papers from his superiors at Kering HQ.  GP is a company that has made its bones mostly on sentiment, passion, emotion - the sort of things that can't really be explained or accounted for in a ledger.

I can only draw one conclusion.  Girard-Perregaux seems to be cursed.  There is no other way to look at it.  It is not a money issue, because there have been several rounds of cash coming in.  It is not for want of creativity, because they have plenty of that.  It is not for want of technical know-how, because it is clear that they have that in abundance.  And in some ways it is not for passion, because there have been some passionate people (at least with Mr. Sofisti, and the Macaluso family).  But sometimes, you can have everything going for you, and God, the Universe, your financial backers, fate itself decides that it just isn't going to be your year, or your decade.

But in my opinion, curses are meant to be lifted.  If the Cubs can win the World Series, if LeBron James can carry an entire city (Hell, an entire state) on his back and bring a championship that nobody ever felt or dreamed they would live to see? 

So what's next for GP?  I am not having daily phone exchanges with the Pinaults.  But at least insofar as their watch divisions go, maybe we should be, because they (or at least the people they are entrusting these watch making entities to) are making some monumentally bad decisions.  To the extent that I have to go back to the idea of a curse.  But maybe they could try something simple:

1.  Identify someone with experience who is not simply looking for their next CEO pay-grade job.  Find someone who gets it.

2.  Stop all of the bullshit.  GP IS NOT Patek.  Sorry, but it's time to put on the big boy pants and start facing realities.  Start making collections that have decent design, decent technical detail, and that will actually be purchased by actual customers.  Stop trying to solve all of your problems with a ridiculously expensive, esoteric watch that may win an award presented once a year by a panel of "experts", experts who are never going to buy one of your watches, but who will certainly be there for you so long as the "bar is open".

3.  Punch your weight.  There is an emerging middle place where GP could not only exist, but thrive.  But that will only happen if calmer heads start to prevail.

And most important?  For the love of God and all that's holy - get f'ing passionate about what you are doing!  This is a brand that people love, but GP has become about as exciting as a greyhound bus trip from Cleveland to Pittsburgh.  Why?  Because if the people running the thing aren't passionate about the watches they make and sell, why in f's sake should we be?

It's hard not to be romantic about watches, it's harder still to watch a good brand continue to trip over itself like a drunken octopus.  

The Transfer Window has Opened - at Girard-Perregaux

Although obtaining official confirmation from Girard-Perregaux is about as easy as getting your cat to do what you tell it to do, word has leaked out that Antonio Calce has slung his hook and is pursuing other professional opportunities.  You may remember him from such roles as CEO of BOTH Corum and Eterna (at the same time).  And needless to say, that was such a bad idea that Corum and Eterna have tried it twice again and are having about the same degrees of success.   So much from learning from your mistakes...

And having heard it from (now) more than three sources, I feel it is safe to say that it is pretty likely that Mr. Calce is, indeed, in Girard-Perregaux's rearview mirror.  This news first came to my attention via Business Montres, which is an indispensable source for those of you hoping to stay up to date and in the know.

Losing your job sucks.  It is one of life's unavoidable truths that the person who thought of themselves as the hammer will eventually encounter a nail that can't be driven and will break itself in the process. 

I have said it before, and people have called me melodramatic, but I will say it again now.  Girard-Perregaux, as a brand, seems to be cursed.  There is a dark, funky cloud hanging over them that they just don't seem to be able to get out from under.  

I think that Kering, for all of their many talents and successes, simply do not understand the watch business.  But in fairness to Kering, I think that very, very few people really do.  JEANRICHARD is, at its heart, a microcosm of what ails both GP, and now Ulysse Nardin (and plenty of other brands out there that aren't owned by Kering).  And the irony of all of it is that JR actually had a fighting chance before the decision was made to put it on the ice floe.  It was short-term thinking rather than taking in the bigger picture.  To be fair to Kering, they inherited a LOT of problems when they took over these brands, and for better or worse, whatever problems were solved got replaced by new ones.

I love GP, I love the brand, I have come to really appreciate the people who used to be there but are no longer, I love the 1945, I love the passion and I love the "recent history" that was the passion that the Macaluso family have instilled.  And I really get frustrated when I think about it as a fan.  But love is sometimes unrequited ; )

BUT -

I have an idea, and I think it is a good one -

Stefano Macaluso refers to himself as a "multi tasker" at Girard-Perregaux.  My idea?  It's time for him to come out of the shadows and take a more senior role.  And in fairness, if Kering were to balk at the idea of having a "family member" in charge, I would direct them to Arnault "the even younger" who is cutting his teeth at Rimowa as the CEO.  He is now 25 or 26 which I guess means he is old enough to buy his team a beer...  

My point is this - what made GP exciting was the passion that was instilled by Macaluso the elder, and I think that Macaluso the younger has spent more than enough time in the family business.  I have never personally met him, and in truth I do not suspect that if he were looking for a biographer that he would be calling me.  But I do think that he might just have the secret sauce that has been evading everyone else calling the shots at GP HQ.

Having said that, GP is not Rolex, nor Patek.  It is a brand that either calls to you or does not.  And the point is that it calls to enough people, on a virtually entirely emotional level, that it is time to start treating the brand as it is, rather than what people feel it should be.  A GP watch will be (for the foreseeable future) a personal, somewhat emotional choice for purchase.  And that's okay!

It's time to remember and embrace what made them what they were, and stop smacking their heads against the wall trying to be something that they never were.

Summer re-runs: A Few Minutes with Stefano Macaluso

And now the other half of the dynamic duo!  This originally ran on April 8th, 2011

And now, once again, a few minutes with Stefano Macaluso -

Courtesy of Girard-Perregaux

James Henderson - What was your first watch, was it a gift?   Is there a story behind it?

Stefano Macaluso - It was a Casio ‘Star Wars’ watch with the  Imperial march, Darth Vader, droids… I was 6 years old.



JH - As with your brother, you were in many ways born into "the family business", is it ever difficult to separate Girard-Perregaux from the Macaluso family?

SM - Since the Haute Horlogerie renaissance begain some 20 years ago, Girard-Perregaux has become woven into our family's culture, so it is quite difficult to separate the two.




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

SM - I wanted to be a car designer.



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

SM - I studied architecture in my hometown of Torino, Italy.



JH - Did you ever consider doing something else for a living?

SM - I would have also loved to be involved in industrial design.



JH - And because I asked Massimo, I have to ask you - who was/is your favorite to wear the black and white?

SM -It depends on the year or the situation.



JH - You and your brother Massimo are now by tragic necessity at the helm of the Sowind group. How are things progressing for 2011?

SM - It is, for certain, a challenging time for us, but globally the business is progressing well.



JH - Will there be more Girard-Perregaux boutiques coming?

SM - We are continually studying several options round the world.



JH - I know that it might be hard to choose, but is there a favorite GP or JR model for you?

SM - I particularly like the design of the GP Sea Hawk as well as the JR Highlands.



JH - Who else out there is making watches that interest you?

SM - Most of our competitors produce iconic watches I like.  To give you a name, I would say Lange & Söhne for the extreme quality of finishing and design of their movements.



JH - If you weren't doing this, what do you think you might be doing?

SM - Again, I would have also loved to be involved in industrial design.



JH - What is a typical "day in the life" of Stefano Macaluso?

SM - It seems that lately I have two kinds of "typical days" - The first is a 12-hour work in our Manufacture of La Chaux-de-Fonds in Switzerland. The second would be a 12-hour flight to somewhere on the
other side of the globe.


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

SM - I like to explore the world, either by traveling or through books and movies. I also enjoy outdoor sports.


JH - You and your brother represent, in many ways, a changing of the guard. Needless to say, with the nature of watch companies being family owned, there will be more second and third generations taking the reins of their companies. What advice to you have for those who take over the family firm?

SM - My advice would be to keep an intellectual coherence with the brand but also to interpret and maintain the heritage with the spirit of your generation.

A few minutes with Willy Schweizer

Sometimes you get some wonderful opportunities, and my visit to Girard-Perregaux's Headquarters and Manufacture this past March was right up there in a "Wonka Golden Ticket" sort of way.  I was very excited to see the operation, observe first hand how movements were assembled and watches were made.  I was also anxious to look at the buildings, take in the architecture, and try to get a sense of what the place is like on a daily basis.

But in all honesty, the high point of the day was spending time with the conservateur of the museums, and to some extent the guardian of the legacy of Girard-Perregaux and Gino Macaluso.  A historian, curator, and genuinely interesting guy.  

When I think of the stereotypical museum worker, I tend to think of a fussy person scurrying about, with a better rapport for objects than people.  Girard-Perregaux's Willy Schweizer - not so much!  Engaging, extremely knowledgeable, a communicator beyond compare... and frankly, an extremely gifted story teller.  

And now a few minutes with the Poet Laureate of La Chaux-de-Fonds, Willy Schweizer -

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

Willy Schweizer - It was a non-branded manual-wind, made by the students of the watchmaking school of la Chaux-de-Fonds. It was a gift from my father for my 8th birthday.

JH - When you were a boy, what did you want to be when you "grew up"?
WS - I had 2 dreams : aviation and car racing, which both came true, but not professionally : I am private pilot and I used to race in the Swiss and European rally championships.

JH - My understanding is that you almost didn't get involved in the watch industry? I believe that you studied something a bit removed from main-springs and tourbillons?

WS - Not exactly - I come from a family of watchmakers, but I am not a watchmaker myself, because when I had to choose a profession in the 1970’s, watchmaking was in crisis and within less than 10 years, the number of jobs fell from 150.000 to 30.000.  In this context, everybody was thinking that this trade would disappear sooner or later.  So I studied history at the University of Neuchâtel, with a special interest in local history and watchmaking.  When I graduated, I started at the Swissair aviation school, but after one year, they said my eyes were not good enough.  So, with the idea of entering into the watchmaking world, I sudied marketing in St-Gallen.

JH - After your studies, what was your first job in the working world?


WS - Marketing and sales at Zenith, for the Swiss market.

JH -  So from History, to the watch industry, to museum curator - was that at all how you planned it?

WS - Certainly not.  When I moved to Girard-Perregaux in 1984, the logo was already referring to 1791 (« fine watches since 1791 »), but nothing was done to enlighten the rich history of the brand, so I started to work on that immediately, and we opened a first Museum in 1991, the year of our bicentenary.


JH - What brought you to Girard-Perregaux originally?  What was your first job there?


WS - The opportunity to work on the international markets.  I was in charge of Germany, Britain and the Middle-East.

JH - Lately, it has been said that there are now essentially three "ages" of Girard-Perregaux: Pre- Gino Macaluso, Gino Macaluso, and Post-Gino Macaluso.
What was GP like in the time you were there before he arrived?


WS - It was a small company (60 people), producing nice watches, but watches which did not correspond to the demand : high end already, but with quartz movements.

JH - If you can put your finger on it, what was the one most important change that he made?


WS - Precisely that he changed completely the products, which were then exactly in line with the demand of the international markets.

JH - When did the idea come about to create the museums?


WS - The date of foundation of GP is 1791 and we have been constantly active since then, so the history is authentic.  When we started to think about the celebrations of the bicentenary, I thought it logical to show this history to the public, through watches we have been patiently collecting over the years.

JH - In the past year, your museum has gone on a world tour - what was that like?

WS - A very rich, but also scary experience : imagine that all the most precious watches of the Museum were on tour, without exception, and that anything could have happened. What is almost incredible is that we needed 15 tons of material to display them properly…

JH - What was your favorite "stop" during the world tour?


WS - With cities as different as Singapore, Shanghai, Paris or New-York, you cannot really put it this way.  Each time, the exhibition was much appreciated, with many visitors, but for reasons that were never the same.  I liked Shanghai quite a lot, but maybe because it was my first time there.

JH - What is a typical day in the life of Will Schweizer?


WS - I like to start early, like 07.30. First I read my emails and reply immediately to those which do not need a research. I am in charge of the factory tours, which start either at 09.00 or 14.00. the rest of the time is dedicated to meetings, preparation of texts or of exhibitions, research, monitoring of auctions or sales in order to complete the collections of the Museum. And there are the days when I travel.

JH - You have often said that if you wrote a book about Girard-Perregaux or La Chaux-de-Fonds, you would actually have to write 2 books. What do you mean by that?

WS - There is what is politically correct and there is the reality, which often do not superimpose exactly.  So, let us say that the first book would be as close as possible to the reality and the second would tell what happened exactly.

JH - So what is one story or event that the general public might not be aware of that would appear in the "second book"?


WS - It is a bit too early to unveil one.  Everybody knows that the shortest way between 2 points is the straight line, but very often things do not happen so ideally.

JH - What is your favorite Girard-Perregaux watch? And for Jean Richard?

Courtesy of JeanRichard

WS - The Tourbillon with three gold Bridges in its skeleton, selwinding version for GP and the Diverscope LPR for JR.

JH - Who else out there is making watches that interest you?


WS - I don’t have a preference. For me, anybody making an innovative and interesting watch works in the right direction and deserves respect.

JH - What is the Swiss watch industry doing right?

WS - To keep on working like above. That is what our public expects from us.


JH - Where can the Swiss watch industry improve?


WS - Maybe less opportunism and more morality. I was shocked when I heard that Switzerland exported watches to Syria last May, for a value of 8 million of Swiss Francs.

JH - If you weren't doing this, what do you think you might be doing?


WS - Good question ! I promise i’ll start to think about it : after all, in theory, I shall be retired in less than 9 years…


JH - What advice do you have for aspiring horological historians and curators?


WS - No doubt that the interest for watchmaking has been tremendously growing these last 20 years, in every respect, and history is part of it.  Not every brand has a history like GP.  However, quite a number of brands have the legitimacy to tell stories : Look at JeanRichard, whose history is incomplete, but where I created a museum of watchmaking machines and tools which is unique in the world.  A Museum will never be a profit center, but can be a tremendous communication tool : all brands which are concerned should consider it under this angle.  So there is still a lot of work and space for all those who have ideas.

Michael Margolis Joins Sowind Group’s team as President of America

And now the official announcement - as seen in our partner site Chronometers.org
http://www.chronometers.org/



Courtesy of Girard-Perregaux

La Chaux-de-Fonds, Switzerland (February 16, 2012) – Girard-Perregaux, iconic luxury Swiss watch brand, and JeanRichard are proud to announce the appointment of Michael Margolis to its team as the new President of America for the Sowind Group. Margolis will join Michele Sofisti, Sowind Group CEO, Stefano Macaluso, Girard-Perregaux Managing Director, and Massimo Macaluso, JeanRichard Managing Director, to oversee the U.S. expansion strategy. Born in the United States, Margolis graduated with a double major in Latin American Studies and Foreign Languages from the University of Connecticut. Proficient in English, Spanish, Portuguese and German, he began a sales career at Crest Reprographics and later on moved on to Nikon. His life in the watch industry came as a result of his passion for luxury timepieces, which he developed as TimeZone.com moderator from 1996 till 2007. It was at this time that Margolis began his professional career in the watch industry, when at the time Hublot CEO, Jean-Claude Biver, brought him into the team as Sales Director in the U.S.



Courtesy of Girard-Perregaux

“Mike is a remarkable individual, with true passion for the craft”, says Michele Sofisti, CEO of Sowind Group (Girard-Perregaux and JeanRichard). “We are very glad to have him on board to lead the U.S. team into this new phase of the brand and are sure that together we will be very successful”.



Margolis will join the Sowind Group (Girard-Perregaux and JeanRichard) as President of America starting March 1st, 2012, where he will use his long experience and success in the watch industry to help the brands achieve their ambitious goals in the U.S. market.



“I am very excited and honored to join iconic brands like Girard-Perregaux and JeanRichard”, says Michael Margolis. “I have admired the brands and their heritage from afar for many years and greatly look forward to being a part of the team”.





About Girard-Perregaux

Girard-Perregaux is a Swiss high-end watch manufacturer tracing its origins back to 1791. The history of the brand is marked by legendary watches that combine sharp design with innovative technology such as the renowned Tourbillon with Three Gold Bridges presented by Constant Girard-Perregaux in 1889 at the Paris Universal exhibition where he was awarded a gold medal.

Devoted to the creation of state-of-the-art Haute Horlogerie, the Brand is one of the very few watchmakers to unite under the same roof all the skills to design and manufacture watches including the forging of their heart, the movement. With over 80 registered patents, Girard-Perregaux is fully committed to research and development to constantly fuse its unique heritage into modern watchmaking.



About Jeanrichard

Jeanrichard is a Swiss watchmaker that designs and creates high quality watches, combining traditional knowledge and skills with a truly innovative approach. Based in La Chaux-de-Fonds, Switzerland, Jeanrichard enjoys extensive creative and technical independence, promoting in-house development of watches.



With roots going all way back to 1681 and links to the watchmaking genius Daniel Jeanrichard (famed as one of the founding fathers of the Swiss watchmaking industry), the brand was taken over by Sowind Group (Girard-Perregaux) in 1988. Jeanrichard has been successfully reinterpreting time ever since, injecting contemporary energy inspired by a tradition on pioneering spirit. Acquascope, Highlands… Each collection has an assertive identity and combines a high level of expertise with the curiosity for discovering new horizons.


Girard-Perregaux celebrates its anniversary in Singapore!

It was a great event for Girard-Perregaux in Singapore!  Sometimes pictures say more than words, and this is one of those situations -

Courtesy of Girard-Perregaux

This is truly a traveling exhibition designed to share the story with the world.

Courtesy of Girard-Perregaux

Watchmakers were on hand to share their craft with the visitors.

Courtesy of Girard-Perregaux

And to underscore that it is still a brand guided by the Macaluso family, the new generation was there.

Courtesy of Girard-Perregaux

A Few Minutes with Stefano Macaluso

James Henderson - What was your first watch, was it a gift?
Is there a story behind it?


Stefano Macaluso - It was a Casio ‘Star Wars’ watch with the
Imperial march, Darth Vader, droids… I was 6 years old.



JH -  As with your brother, you were in many ways born into
"the family business", is it ever difficult to separate Girard-Perregaux
from the Macaluso family?



SM - Since the Haute Horlogerie renaissance begain some 20 years ago, Girard-Perregaux has become woven into our family's culture, so it is quite difficult to separate the two.



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

SM - I wanted to be a car designer.



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

SM - I studied architecture in my hometown of Torino, Italy.



JH -  Did you ever consider doing something else for a living?
SM - I would have also loved to be involved in industrial design.



JH - And because I asked Massimo, I have to ask you -
who was/is your favorite to wear the black and white?

SM -It depends on the year or the situation.


JH - You and your brother Massimo are now by tragic necessity
at the helm of the Sowind group. How are things progressing for 2011?

SM - It is, for certain, a challenging time for us, but globally the business is progressing well.



JH - Will there be more Girard-Perregaux boutiques coming?

SM - We are continually studying several options round the world.



JH - I know that it might be hard to choose, but is there a favorite GP or JR model for you?

SM - I particularly like the design of the GP Sea Hawk as well as the JR Highlands.



JH - Who else out there is making watches that interest you?

SM - Most of our competitors produce iconic watches I like.
To give you a name, I would say Lange & Söhne for the extreme
quality of finishing and design of their movements.



JH - If you weren't doing this, what do you think you might be doing?

SM - Again, I would have also loved to be involved in industrial design.




JH - What is a typical "day in the life" of Stefano Macaluso?

SM - It seems that lately I have two kinds of "typical days" -
The first is a 12-hour work in our Manufacture of La Chaux-de-Fonds in
Switzerland.   The second would be a 12-hour flight to somewhere on the
other side of the globe.



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

SM - I like to explore the world, either by traveling or through
books and movies.  I also enjoy outdoor sports.



JH - You and your brother represent, in many ways, a changing
of the guard. Needless to say, with the nature of watch companies
being family owned, there will be more second and third generations
taking the reins of their companies. What advice to you have for those who
take over the family firm?



SM - My advice would be to keep an intellectual coherence with
the brand but also to interpret and maintain the heritage with the spirit of
your generation.

In Memoriam - Luigi "Gino" Macaluso

I am sad to share with those of you who had not already heard that Luigi "Gino" Macaluso passed away unexpectedly yesterday.

Mr. Macaluso was the man behind the revitilization of Girard Perregaux taking over in 1992, and the founder of (Daniel) Jean Richard.

A former rally car driver, and architect, Mr. Macaluso was one of the young stars to help revive the fortunes of the flagging Swiss watch industry in the 80s and early 90s working with firms such as Omega and Tissot.