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.

Baumes Away!

Word reached the North Shore offices of Henki Time that speculation was no longer necessary. Richemont has pulled the trigger and an agreement has been reached with the Damiani Group for them to take control of Baume & Mercier, and off of the Richemont books.

Without going too much into the heroes and zeros, I'd like to really address a bigger issue that a few other outlets have hinted at, but nobody has really been willing to address - the lack of understanding of identity that many brands suffer from. And those brands in particular? They tend to reside in larger (and sometimes smaller) groups.

Now if we stick strictly with Baume & Mercier, in truth? It's a brand that with even just a little bit more attention from the Richemont leadership, and a bit more understanding about where they lived within Watch Town writ large? Well they could have made a LOT more money and not be an asset needing to be sold. But a big part of that has to do with what I constantly share with the brands I consult for - you must know who you are, you must be comfortable in your own skin, and you MUST PUNCH YOUR WEIGHT.

Let's look at some other examples. I realize all of the other pundits are talking about Zenith. But in truth that is a bit to obvious. We'll come back to it. Let's talk about my old frenimy - Mido. Mido is a brand that can't seem to decide who they are. Are they retro - with the heritage Commanders and Ocean Stars. But then again - countless numbers of SKUs. And here in the US, opening and closing US offices, and going back and forth with concepts. In truth? The majority of what Mido cranks out could really have any brand's name on it. There is very little to distinguish it. Now, in fairness, I have to assume that from their shared administration offices in Le Locle that they make enough money that for better or worse, Hayek the Younger, and Hayek the Even Younger are willing to swing along.

Staying with the Swatch group, let's consider a brand that has an identity that gives it some flexibility, but also has the ability to know itself - Longines. Longines is, if we're honest, what Baume & Mercier should have always focused on being. A step or two above Tissot, but absolutely priced in real world economics. In the real world, a $1,000 - $2,000 watch purchase is going to be a once in a lifetime purchase for most people. And if I'm being honest? That is really what attracted me to watches in the first place. It wasn't about the brand, or how many I could / would get to have. It was about a nice thing that was with you every day. Something that was truly fine, that you had always wanted.

But I digress...

Let's go back to Le Locle - and Zenith. Zenith is a brand that I admire a great deal, and a brand that seems to be cursed to poor stewardship. It has been traded somewhat like a baseball card that each person who acquires it hopes will somehow pivot and make them millionaires. The reality is not nearly so rosy. 

Zenith has had the misfortune to land in the hands of a succession of wannabe operators who it turns out were just marking time until the next warm body came along. And with the stewardship of Arnault, Arnault the Younger, and Arnault the Even Younger nothing seems likely to change the trajectory of Zenith. The piece none of us pundits really know is whether or not Zenith is profitable, breaking even, or losing money. My sense is that Zenith has become a sunk cost trap for LVMH. And as with so many people who are successful with many things, it is hard to see, acknowledge, and accept failure when it finally rears it's not-so-attractive head. And Zenith and LVMH's inability to effectively address it is Watch Town's Dunning Kruger Effect writ large.

Now unlike the Watch Bros who apparently know more than anyone else, I am not going to presume that I would know how to fix Zenith. To quote that great movie about the watch business - The Sound of Music: "How do you solve a problem like Zenith?"

So what have we learned from all this? Sadly - probably not a damned thing ; )

Watch Town has a painfully short memory. We forget that once upon a time, apart from a handful of successes, the watch business was a grind. The idea of a Rockstar Watch Maker or CEO was ludicrous. We forget that watch making in Switzerland started out as a way for farmers to make money during the winter when they couldn't farm. And I am a bit of a traditionalist, but perhaps a bit of humility coupled with fiscal responsibility wouldn't be too far misplaced?

Richemont's sale of Baume & Mercier is perhaps the wisest decision they have made for some time. Selling a brand to another suitor who will hopefully take it further than you did is not really a failure, it shows the sort of wisdom that is in short supply in Watch Town. But maybe this will be the first shift towards common sense that will hopefully start a trend which will help some of these red-headed step-child brands not only survive, but one day thrive.

But as with anything in Watch Town, we will wait, and we will 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 ; )

Bern to La Chaux-de-Fonds to Zurich and Home

So Bern. I have been through Bern once or twice via train connections, and driven by my friend Rod Hess. With that being said, I was clearly missing out. I had about two hours after breakfast to take in the sights -

There is clearly a lot more to be seen, so next year this is definitely slated for a full day's stay.

And then I got a reminder about just exactly how large and (I gotta' be honest) not consistently logically laid-out a train station Bern is. If you've never started a journey in an SBB station without a ticket (and you do not have a pay account tied to your SBB app) you must do a few things before you get in the carriage:

• Identify the ticket machine - curious to relate? It is not always where you expect it to be.
• Make sure your payment method is going to work. 
• Make sure you have sufficient Swiss Francs and (if necessary) Euro to make your purchase (see above).
• Clearly understand just how far the platform is from the main hub.

So let's examine that last bullet item in a bit more detail. Ordinarily, it is a fairly brief walk from the central hub to any given platform. The one previous experience I've had is the walk "across the border" when arriving into Basel via Mulhouse (France). With that said, I was not prepared for the (literally) 1 + kilometer walk I had to make - and that is FROM the tunnel marked "Biel/Bienne"!

Long story short? I had to sprint at the end to make the train, and truly just made it!

With that said, it was a beautiful day and the ride to Biel/Bienne was smooth, with a quick transfer to La Chaux-de-Fonds -

And a return to visit my friend Kornelia Imesch at ochs und junior -

And I got to check out the settimana junior -

Courtesy of ochs und junior

And in an odd sort of way? This was really coming full-circle for me. Back in 2010 I had walked away from DOXA, realizing that it had become a bit of a dead-end, and I was not going to advance or go any further. I had started writing Tempus Fugit (which is today known as Henki Time), and I stumbled upon ochs und junior via a magazine article that had been forwarded to me. I then connected with Beat Weinmann and got a behind the scenes look at the nascent brand. Fast forward nearly 10 years to the day later, and I was back behind the scenes and got to know the owner Kornelia, the inspiration for the settimana junior - Flori, and got to see how things were moving forward since ochs und junior moved to La Chaux-de-Fonds. So really oj does bookend my start in consulting and media and as I said, it feels as if I've come full circle ; )

After a lovely lunch and a walk around the neighborhood, I was off to Zurich -

I got checked in, found dinner at my favorite Chinese take-out in the old town, got a good night's sleep. The next morning I availed myself of the Ruby Mimi's breakfast - highly recommended by the way, and struck out for a personal errand...a visit to Jenni Uhren, the work address of one Marc Jenni (among others).

After a few wrong turns and a short stroll along a river / canal, I found myself in the right place. I had my eye on two different pieces -

This particualr one I quite like - it's quirky and definitely "of an era", not unlike yours truly ; )

But I had also been admiring this little time machine -

And that is what I ended up with.

And a few words about Marc. The watch business can be a cynical world. As a member of the press, you all too often realize that your relationships with brands and watchmakers can be transactional. I sometimes call them "Weather Vane" friendships, meaning that whether or not some folks have time for you depends upon which way the wind is blowing ; )

But Marc Jenni is something altogether different. I will never forget getting a much coveted invitation to the AHCI dinner during BaselWorld several years back. I have never considered myself an "A List" level invitee, so I reached out to Marc and asked if there had possibly been a mistake, did they really mean to invite me. Marc immediately responded saying that I was absolutely meant to be invited, and that he looked forward to seeing me there! And he could not have been more inviting, more friendly, and more engaging. And I can honestly say after several years of knowing him that he is exactly that nice! For those of you have have the opportunity, he is a friend well met.

Then back to the hotel, packed everything up (including watches this time and double checked), and headed to the station -

And off to the airport, and some "self-care" which my friend Armand Billard reminds me is important not to neglect ; )

As I write this, it is Sunday morning, nearly one month since I got back. A lot has happened. A family member has been diagnosed with a serious medical condition, my job will likely be over by the end of June owing to the political machinations endemic to the city of Lawrence, and in many ways while it feels like the end of some things, it also seems like the start of yet another series of wonderful opportunities, and I am reminded once again that true friendship is something that endures.

Life is fickle and short, embrace it.

Tempus Fugit -

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. 

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 ; )

The Transfer Window Might Be Opening...

At LVMH.

You can get a much more detailed report from the folks at Watch Pro, who in turn cite an article from NZZ. Long story short, word around the campfire is that that "Arnault the Even Younger" - Frédéric Arnault is getting an upgrade and moving over to Bulgari in what is being referred to as a senior role. Neither LVMH or Jean-Christophe Babin seem to have much to say on the matter. 

On the upside for Julien Tornare, he will not have to move too far in this latest game of musical chairs as Le Locle is within walking distance to La Chaux-de-Fonds. Because if the rumors are to believed, he will be moving a few miles down the road to take over junior's spot at TAG Heuer. Who will "reach their star" (still the worst tag line ever) as the new CEO at Zenith remains to be seen, as Arnault the Elder may have run out of offspring.

So we shall wait, and we shall see.

Zenith Reaches Its Star With a New Brand Ambassador!

This is a piece of fictional parody. 

Now ordinarily I could really not care any less about a new brand ambassador collaboration, but this one is a bit special! I take heart that Zenith has finally stepped away from its typical diet of white (let's be honest) NFL quarterbacks. And frankly, a lot of it was about timing that they had no control over - sort of ironic when you consider that they made their bones with the El Primero chronograph ; )   

And that's why I am so excited about this new partnership. Here's the info, straight from the PR firm handling this announcement -

Star quarterback of the Shenzhen Rusty Hairsprings, Leika'h Rollee-Fleks currently leads the league in completions, yards rushing and digital image capture.  The Rusty Hairsprings compete in the rapidly growing Hyper Organic Allstar XI, an underground football league in the Shenzhen (China) area. Rollee-Fleks was a first round draft pick back in 2016 following his senior season at Brooks Institute where he led the Fighting Shutter-Bugs to their first NCAA Division 7 National Championship.

An orphan, Leika'h was adopted by the German Anthropologist, Gunther Rollee-Fleks who met the young man while doing field research on the island of Lanai.  From a very unlikely beginning, he took up football as a senior in high school.  Clearly he was a natural, leading his team to the state championship game, where he caught the eye of the Brooks Institute coaching staff.  Although he had never taken a photo before, his photographic skills seemed to come as naturally has his football talents. Record breaking games against The Art Institute, the Rhode Island School of Design and the top ranked Savannah College of Art and Design cemented his legend. 

Here's hoping that this new signing to the Zenith roster will finally provide the brand with a professional football player that will finally help them reach their star!

Happy April 1!

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!

There Can Be Only One -

Also known as The Shit That Killed Elvis!

Courtesy of Bamford Watch Department

This is the latest collaboration between Bamford Watch Department and everyone's favorite "outside of the watch box thinker", the Black Badger, James Thompson.

You may remember Fordite from some of the really great rings that Black Badger has crafted. It is, essentially, the collected paint remainders from commercial painting stations (think Earl Scheib).

Courtesy of Black Badger

Well, as drip as that is, take that awesomeness and put it on a watch dial -

Courtesy of Bamford Watch Department

Picasso needed a canvas, Michelangelo needed marble, and the dynamic duo of Bamford and Black Badger needed a watch - enter the Zenith Pilot Chrono TIPO CP-2.

As mentioned above, this is a unique (i.e. ONE)piece, so if it's in your wheelhouse, move sharpish ; )

Here are the pertinents -

1/1 LIMITED EDITION BWD X BLACK BADGER ‘FORDITE’ ZENITH PILOT CHRONO TIPO CP

Call for Price

In collaboration with Black Badger, this Zenith Pilot Chrono TIPO CP-2 features a unique Fordite dial.

Fordite is the commonly used term to describe the collected overspray that builds up in the industrial paint bays of car factories over many, many years. The Fordite material used in this collaboration has come from the Ford factories in Michigan, USA, from the 1970-1990s era. This material forms entirely unique patterns which has been made into a special dial.

Functions:

• Central Chronograph Hand
• 30 minute counter at 3 o’clock position
• Hours & Minutes in the centre
• Small seconds at 9 o’clock position

Case, Dial & Hands:

• CASE MATERIAL: Matte Steel with Black Military Grade Titanium Coating (MGTC)
• CASE DIAMETER: 43 mm
• CASE THICKNESS: 12.85 mm
• CRYSTAL: Domed sapphire crystal with anti-reflective treatment on both sides
• CASE-BACK:Matte Black Stainless Steel engraved with special Chronometro Tipo CP-2 logo
• WATER-RESISTANCE: 10 ATM – 100 m