Nine Timely Luxury Watch Gifts for the Holidays

Vacheron Constantin Patrimony Contemporaine Ultra-Thin Caliber 1731 combines the complexity of a striking mechanism with the additional challenge of producing the thinnest minute repeater caliber and the thinnest minute repeater watch on the market—at just 3.90 and 8.09 mm thin respectively. It has a 65-hour power reserve, a silent flying strike governor, which steadies the rate at which the hammers strike the gongs. It is available at Vacheron Constantin boutiques.

Buying a luxury watch as a gift can be a downright terrifying experience. The choices are near endless in this day and age.

Montblanc Nicolas Rieussec Rising Hours Chronograph relies on two discs, one atop the other, to show not only the hours, but to also indicate whether it is day or night. This unusual time display is made possible by Montblanc’s caliber MB R220. The chronograph tallies 60 elapsed seconds and 30 elapsed minutes on rotating discs with motionless hands. It is available at Montblanc boutiques.

Fortunately, I put together a list of nine watches that cover a variety of mechanical variations, designs and lifestyle attributes. There are watches in all shapes, styles and prices. Some of the world’s most prestigious watch brands are represented as well as critically acclaimed independent brands. There are ultra thin watches. There are watches in line with a lifestyle pursuit, such as high-powered automobiles or world travel. Several watches on the list have fanciful complications. Then there are the timepieces that speak to history and heritage. There’s even a watch brand that’s made in America.

Arnold & Son HM Perpetual Moon boasts one of the biggest moonphase apertures on the market along with rich guilloché dials and three-dimensional big moon. The 42mm, 18k red gold case houses the Arnold & Son caliber A&S1512 mechanical hand-wound movement. It has a one day-deviation every 122 years, at which point a single push on the corrector will keep it in sync for another 122 years. It retails for $28,550.

Surely there is something on this short list that could be a perfect gift for that special man in your life.

Nomos Glashütte Zürich Weltzeit 5th Avenue watch was designed in Zurich built in its manufacturing facility in Glashütte, Germany, and dedicated to New York. It’s powered by the Nomos in-house caliber Xi. To view the time in another zone, press the button above the crown at 2 o’clock until the desired location is at 12 o’clock. The “New York” display is at the 3 o’clock marker in red typeface next to a 24-hour disc. It is available at Wempe stores worldwide, limited to 100 pieces. 

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Jaquet Droz Grande Heure GMT has 24 indexes in Arabic numerals set around a Grand Feu enamel dial make it easy to see all the hours of the day in two cities. The hands are designed in the form of a compass. The red hand indicates local time while the blued steel hand shows the time at the destination. When the two hands come together in the same time zone they merge into a single, bi-colored indication of the exact time. 

For the first time the Piaget Altiplano watch integrates a calendar and holds its place as the thinnest watch in the world in its category. The 40 mm watch has an 18k rose gold case set with 72 brilliant-cut diamonds (approx. 1 ct). The 1205P ultra-thin automatic mechanical movement is the thinnest in the world (3 mm thick), with small seconds and date and a 22k rose-gold oscillating weight.

The Dubey & Schaldenbrand Grand Dome R92 has a stainless steel tonneau-shaped column wheel chronograph combines vintage movements with modern craftsmanship and design. The R92 movement was originally fabricated in the 1950s. It uses a swivel-pinion design to synchronize the chronograph components. The dial is exposed providing full view of the movement. It retails for $16,700.

Graham Silverstone “RennSport” Skeleton reflects the accuracy and efficiency of automobile mechanics, showcases all parts of the caliber G1790 chronograph movement. The 46 mm steel case has polished bevel horns. A lateral porthole on the case at 10 o’clock provides a view of the escapement and balance wheel. Limited to 250 pieces it retails for $14,580. 

Devon Tread 2 Shining is manufactured in Los Angeles. It runs on Devon’s distinctive Time Belt movement and powered by a lithium-polymer rechargeable battery that can power the movement for up to 28 days. It retails for $9,950.

Timepiece Tuesday: Christie’s, Antiquorum Auctions; IWI 'English' Watches; Mayors Opens Rolex Store

As I write, the Christie’s “Important Watch” auction in New York had just ended. It was the last auction of the year for the international auction house and judging from the early results, some people will be receiving some spectacular holiday presents.

The evening’s stunner was a limited-edition “Kanthara” diamond-set wristwatch from Piaget (above) that sold for $602,000, double its high estimate. The 32 mm wide watch has nickel-finish signed watch is literally covered in diamonds, including a dial set with baguette-cut diamonds, oval case enhanced by emerald-cut diamonds, diamond-set crown, 18k white gold Piaget bracelet and hidden clasp set with emerald-cut diamonds.

Other highlights include:

A Breguet (Reference 3857) limited-edition platinum minute-repeating tourbillon wristwatch sold for $434,500, well above the high estimate of $350,000. It was produced in 1997 to commemorate the 250th anniversary of Abraham Louis Breguet, who invented the tourbillion, which counteract the effects of gravitational pull on timepieces.

 

Patek Philippe had seven of the top ten sales for the evening, according to early results. Among them was a stainless steel chronograph watch with Breguet numerals that sold for $386,500 (left), above the high estimate; an 18k gold perpetual calendar chronograph watch with phases of the moon sold for $314,500; and an 18k gold perpetual calendar chronograph that sold for $266,500. More to come.

Antiquorum Auction

On Dec. 8 Antiquorum held its final watch auction of the year, featuring a FP Journe set of six platinum watches with champagne dials that sold for $200,500 and a white gold “Double Tourbillon 30 Vision” watch (left) that sold for $160,000.

IWI M1

British Watches

There are quality watches made outside of Switzerland. A case-in-point is IWI, a new luxury sports watch brand headquartered in Lancashire, England. Calling itself a “truly English brand,” the company is headed by watchmaker Ian Walsh. Studying Classic Horology at Manchester and later working with Tag Heuer, Walsh said it was while working with vintage timepieces that he realized that he wanted to recreate classic designs. The IWI stainless steel watches pay homage to motorsport. The watches contain Swiss automatic movements and The IWI signature crown is situated at 12 o’clock. Walsh says the classic dials inspire the glory days of auto racing.

Mayors Opens Rolex Store

Just in time for Christmas, Mayors jewelers opened its first dedicated watch store in Orlando, Fla. Called “Rolex Presented by Mayors,” the new store is located in the Mall at Millenia. More than 300 luxury timepieces are on display in the 1,100-square-foot space. The store is Mayors' second retail location in the mall.

Piaget To Unveil Record-Breaking Ultra-Thin Altiplano Chronograph

Piaget has released the first images of a new timepiece that it says sets records for the world’s thinnest chronograph movement and world’s thinnest chronograph timepiece.

The Altiplano Chronograph will be shown publicly for the first time at the 25th Salon International de la Haute Horlogerie, January 19 – 23 in Geneva. The luxury brand, known for its record-breaking achievements in its ultra-slim timepieces, says this is the first ultra-thin, hand-wound chronograph for Piaget in its ultra-thin Altiplano collection and the first one with a major complication.

The in-house 883P handwound chronograph caliber set a double slimness record for its 4.65 mm hand-wound flyback chronograph movement, and for its 8.24 mm case, the company said. This achievement was the result of two years of development at Piaget’s La Côte-aux-Fées, Switzerland, manufacturing facility.

The collection of ultra-thin parts to create the timepiece includes the cannon-pinion (0.12 mm), the barrel staff (0.115 mm) and the chronograph gear finger (0.06mm). The watch has a 50-hour power reserve. It displays hours, minutes, small seconds at 6 o’clock, along with a 30-minute counter at 3 o’clock and a 24-hour dual-time indication at 9 o’clock. Its flyback function serves to reset the chronograph hands to zero simply by pressing them and then automatically restarting a new timing cycle. In addition, the chronograph is controlled by a column-wheel responsible for coordinating its phases, and by a vertical coupling-clutch system ensuring precision. This movement, visible through the transparent case-back, has a circular Côtes de Genève stripe decoration, a circular-grained mainplate, beveled bridges, sunburst wheels and blue screws.

The dial features a sunburst satin-brushed finish, slender baton-type hands, and slim alternating single and double hour-markers. The chronograph counters are not hollowed as is usually the case, but appear on the same level as the rest of the dial. The elongated chronograph pushers blend into the curves of a streamlined ultra-thin 41 mm diameter case. It is complemented with an alligator leather strap fitted with a pin buckle. The watch is available in pink gold or white gold set with 56 brilliant-cut diamonds (approximately 1.8 carats).

This timepiece is the latest representation of Piaget’s expertise in ultra-thin watches that dates back to 1957. The company has created 25 ultra-thin movements that hold 14 world records for their thinness.

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Richemont Sales Up 37%, Jewelry Sales Up 32%, Watch Sales Up 38%

Richemont headquarters

Luxury goods group Cie. Financiere Richemont said Friday that year-over-year sales for the six months of 2010 increased 37 percent to 3.26 billion euros ($4.47 billion). At constant exchange rates (excluding currency fluctuations and other conditions) the increase was 27 percent for the period ended September 30. When removing the company’s recent acquisition of Internet retailer Net-A-Porter.com, sales increased by 22 percent.

The Geneva-based company said the strong growth in sales reflects, in part, low comparative figures in the prior period, when reported Group sales decreased by 15 percent.

Profit for the period rose 87 percent to 644 million euros ($883 million) and operating profit increased by 95 percent.

Its jewelry business (which includes Cartier, Van Cleef & Arpels and Piaget) saw its sales increase 32 percent to 1.69 billion euros ($2.31 billion) for the period. Both Cartier and Van Cleef & Arpels saw double-digit sales growth, Richemont said.

Watch sales (which include Vacheron Constantin, Baume & Mercier, Jaeger-LeCoultre, Lange & Söhne and IWC) rose 38 percent to 901 million euros ($1.23 billion).

Overall Group sales as measured by constant exchange rates increased 37 percent in the Americas, 36 percent in Asia-Pacific, 23 percent in Europe and 4 percent in Japan.

Johann Rupert, Richemont executive chairman and CEO, stressed that the strong sales figures benefited from favorable exchange rates and better economic conditions when compared to the post-recession prior year and cautioned that growth may slow during the second half of the year.

“The good performance achieved by Richemont in the first half of this year has been driven by a marked improvement in all business areas and across all geographies compared to the depressed levels seen last year,” Rupert said. “Richemont’s Maisons were able to benefit fully from this improved trading environment, further enhancing their leading positions in jewelry, watchmaking, writing instruments and accessories. … The robust sales momentum that the Group has seen for several months has continued through to the end of October; sales for the month were 36 per cent above those of October 2009 at actual exchange rates.”

He added, “For the second half of the financial year, we expect the high rate of growth in sales seen in the year to date to slow as a consequence of exchange rate movements and the more challenging prior year comparatives.”

Richemont’s Half-Year Sales Up 29%, led by Asian Demand and Jewelry and Watch Sales

Luxury goods conglomerate, Cie. Financiere Richemont SA, said Friday that sales for the six-month period, ended September 30, increased by 29 percent to 4.2 billion euros ($4.68 billion), year-over-year. At constant exchange rates (stripping out the effects of currency exchange rates), the increase was 36 percent.

The Swiss company reported solid growth across all segments, regions and channels. Operating profit increased by 41 percent to 1 07 billion euros ($1.2 billion). Net income for the period increased by 10 percent to 709 million euros ($791.3), reflecting the impact of a one-time gain in the comparative period.

Richemont owns several leading luxury goods companies, which it calls Maisons, with particular strengths in jewelry, luxury watches and writing instruments. These companies include Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai and Montblanc.

“Our Maisons were able to benefit from a favorable trading environment to enhance their positions in jewelry, watchmaking and accessories,” said Johann Rupert, Richemont, executive chairman and CEO. “The rate of increase in net profit was lower than the increase in operating profit primarily due to a one-off gain in the comparable period.”

Rupert also noted that the group’s net cash position is 2.6 billion euros ($2.9 billion) and that sales in month of October, not included in the report, increased 28 percent, year-over-year. Sales were strengthened by the group’s own retail network bolstered by very strong demand in the Asia-Pacific and Americas regions.

Although gross profit rose by 26 percent, gross margin percentage was 160 basis points lower at 63.2 percent of sales, due to adverse currency movements affecting sales, the strengthening of the Swiss franc and, as expected, the impact of Net-a-Porter, the online luxury goods retailer. The company’s brands raised prices in order to offset the strength of the Swiss franc during the period. The stronger Swiss franc is of particular importance to the cost of sales as the majority of the Group’s manufacturing facilities are located in Switzerland.

Compared with the group’s other brands, Net-a-Porter’s gross margin percentage is well below the average reflecting its distinct business model as an online retailer, Richemont said. Given its above-average sales growth, Net-a-Porter has a dilutive impact on the Group’s gross margin percentage.
 
Earnings per share increased by 11 percent for the period.
 
Double-digit organic growth was registered across all regions, including Russia and the Middle East. Travelers to Europe continue to be an important sales driver. All brands improved their performance in the region versus the comparative period.

Sales to the Asia-Pacific region increased 48 percent (60 percent at constant exchange rates) to 1.7 billion euros ($1.9 billion), led by China, which is now the company’s third strongest market, after Hong Kong and the U.S.

In Europe, sales increased 20 percent (22 percent at constant exchange rates) to 1.5 billion euros ($1.67).

Sales in the Americas grew by 23 percent (35 percent at constant exchange rates) to 602 million euros ($671.7), driven by significant High Jewelry sales, although business in general has been very encouraging, the company said.

Sales in Japan increased 9 percent (8 percent at constant exchange rates) to 380 million euros ($424 million), despite the dramatic events of last March. Van Cleef and Arpels and watches performed particularly well.
 
Directly operated boutiques and Net-a-Porter sales increased by 37 percent. This was well above the growth in wholesale sales and Richemont now generates 49 percent of its sales through its own retail network.

The growth in retail sales partly reflected the good performance of Net-a-Porter and the expansion of the Maisons’ network of boutiques to 919 stores. Openings during the period were primarily in high-growth markets such as China.
 
Jewelry sales grew by 34 percent to 2.16 billion euros ($2.4 billion). “Both Van Cleef & Arpels and Cartier performed exceptionally well,” Richemont said.

Watch sales increased 30 percent to 1.17 billion euros ($1.3 billion).  “All watch brands performed well worldwide, reflecting the strong demand for haute horlogerie,” Richemont said. “Despite higher input costs and the strength of the Swiss Franc, the contribution margin was 27 percent, reflecting the brand’s pricing power and operating leverage.”
 
Montblanc reported strong growth with a 10 percent increase to 334 million euros ($372.6 million), reflecting good demand for its range of watches and accessories particularly in the Asia-Pacific region.
 
Richemont’s fashion and accessories brands saw double-digit sales growth and more than tripled its profits to 23 million euros ($25.6 million). Alfred Dunhill and Chloé performed particularly well.
 
Net-a-Porter incurred losses during the period amounting to 22 million euros ($24.5 million), resulting from the amortization of intangibles and the costs associated with the continued expansion of its platforms in the U.K. and the U.S

Richemont Sales Up 21%, Profit Up 52%

Swiss luxury goods conglomerate, Compagnie Financière Richemont, said Friday that sales increased, year-over-year, for the first half of the fiscal year by 21 percent to €5.1 billion ($6.5 billion). By constant exchange rates sales grew 12 percent.

Profit for the period rose 52 percent to €1.08 billion ($1.37 billion); with operating profit up by 28 percent to €1.38 billion ($1.75 billion), benefiting from favorable currency movements, and gross profit up 24 percent to €3.31 billion ($4.2 billion). Operating margin gained 150 basis points to reach 27 percent.

The Geneva-based company cited “solid growth in all segments, regions and channels” along with favorable currency rates and Asian tourism in Europe for the strong performance.

Richemont owns many of the world’s best-known luxury brands (known as “maisons” by the company) including Cartier, Montblanc, Vacheron Constantin, Van Cleef & Arpels and Piaget. It also has wholesale businesses and owns the luxury retail website, Net-A-Porter.com. A list of its businesses can be found by following this link.

“The Group’s maisons benefited from favorable exchange rates effects, successful product launches as well as strong pricing power,” said Johann Rupert, Richemont executive chairman and CEO. “The increase in net profit was well above the prior period, reflecting both the growth in operating results and the non-recurrence of non-cash losses, which stemmed from the Swiss franc’s appreciation against the euro.”

He added, “Sales growth rates moderated, as evidenced by the October sales which grew by 12 percent at actual exchange rates. At constant exchange rates, they were 7 percent higher. Richemont is seeing good growth in Europe, supported by Asian tourism which is compensating for slower domestic Asia Pacific sales. Retail continued to lead wholesale, reflecting robust jewelry sales.”

Rupert did warn that sales and profits could slow as exchange rates will like be “less favorable” for the remainder of the fiscal year.

By region the company reported that sales in Europe accounted for 36 percent of overall sales as the region enjoyed good growth, with tourists driving the above-average increase. The highest growth rates were in the Maisons’ own boutiques in tourist destinations, including the Middle East. Europe’s reported a 23 percent growth in sales for the period to €1.85 billion ($2.35). At constant exchange rates, sales increased by 19 percent.

Asia Pacific remains the strongest region for Richemont but sales growth has slowed. The region accounted for 41 percent of the Group’s total, with Hong Kong and mainland China the two largest markets. “Sales growth in our maisons’ own boutiques in the region was well above the increase in sales to wholesale partners, partly reflecting the number of boutique openings in the last two years,” the company said. Asia reported a 22 percent growth in sales for the period to €2.1 billion ($2.67). At constant exchange rates, sales increased 9 percent.

After two years of what the company termed as “outstanding sales,” the Americas region reported that sales grew 16 percent to €698 million ($877 million). However, at constant exchange rates, growth was 4 percent. The region represented 14 percent of overall sales for Richemont.

Japan, which Richemont lists separately, saw what the company terms as “continued momentum” in sales in all retail segments. The struggling market saw its sales increase by 18 percent to €448 million ($570 million). At constant exchange rates the increase was 4 percent.

Its group of jewelry brands saw sales grow by 20 percent to €2.6 billion ($3.3 billion) with operating results of €958 ($1.21 billion), a 31 percent increase. Operating margin gained 280 basis points to reach 36.7 percent.

Meanwhile, its specialist watchmakers group reported that sales increased 25 percent to €1.46 billion ($1.85 billion) with operating results of €470 ($592 million), a 51 percent increase. Operating margin gained 560 basis points to reach 32.2 percent.

Montblanc, the German brand known for its luxury writing instruments but also manufactures and sells luxury leather goods, jewelry and watches, is listed separately by Richemont. It reported that its sales increased 10 percent to €368 million ($468 million) with operating results of €53 million ($67.3 million), a 2 percent decline. Operating margin lost 180 basis points to reach 14.4 percent. Richemont said that Montblanc doesn’t benefit much from sales in tourist destinations.

For its other businesses—which includes Richemont’s Fashion and Accessories businesses, Net-a-Porter and watch component manufacturing activities—results are as follows:

* Fashion & Accessories maisons saw double-digit sales growth and operating profits were in line with the prior period at €25 million.

* Sales growth at Net-a-Porter is “normalizing” but continues to exceed the Group’s average. Net-a-Porter reduced its losses during the period, but generated a positive operating cashflow.

* Losses at the Group’s watch component manufacturing facilities were in line with the comparative period.

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Timepiece Tuesday: A new section that focuses on new products releases, events and important issues in the world of watches

Highlights for this week are:

* Swatch to reexamine its procurement of exotic leather;
* Global market for watches and clocks expected to reach $36B;
* Audemars Piguet Sponsored Golf Team Wins Ryder Cup;
* Piaget opens boutique in London;
* Seiko marks a milestone;
* New Italian Sports Watch;
* High-tech watch for the world traveler;
* Bollywood star launches watch line


Swatch and exotic leather controversy
Swatch Group acted quickly following a Swiss Television report on the deplorable conditions associated with the procurement of exotic animal leathers, particularly in Asian countries. The world’s largest watch company said it will reexamine its exotic leather sources to ensure they meet company criteria for “acceptable social and environmental conditions.”

“The Swatch Group FEPS (Far Eastern Procurement Service) Division will immediately attempt to determine if leather from the Far East is used and, should this prove to be the case, will undertake on-site inspections of all sources,” the company said in a statement. “Products from such doubtful sources as those described by Swiss Television have no place in the Swatch Group product offering.”

Emerging Markets to Drive Growth for Timepieces
The global market for watches is forecast to reach $31.5 billion, while Clocks market is projected to touch $5.2 billion by the year 2015, according to a report by Global Industry Analysts, Inc. Growing demand for watches & clocks in the developing world, particularly the BRIC countries (Brazil, Russia, India, and China), and increased acceptance of luxury watches and watches with fashion statement are fueling the growth.

Europe remains the world’s largest market for watches and clocks followed by the United States, according to the report. The fastest growth is seen in Asia-Pacific region. The fastest growth product segments are in watches for under $50 and luxury watches over a $1,000. After a decline in 2009, the European and U.S. markets are expected to slowly regain lost ground, according to the report.

Read more

Audemars Piguet Celebrates Ryder Cup Victory
The European golf team, comprised of four Audemars Piguet ambassadors— Graeme McDowell, Miguel Ángel Jiménez, Rory McIlroy, Lee Westwood (pictured from top)—has won the 2010 Ryder Cup, bringing back to Europe the prestigious trophy it lost on the other side of the Atlantic two years ago. Europe beat the American team by 14.5 points to 13.5.

Piaget opens Bond Street boutique
Swiss luxury watchmaker and jeweler, Piaget opened its UK Flagship at 169 New Bond Street, London W1. The two-story store, designed by French architect, Gérard Barrau includes perpendicular horizontal and vertical lines of the showcases and furnishings, a simple coloring scheme and discretely lit wall paintings. The store displays a full range of Piaget watch and jewelry collections. It’s Piaget's 71st boutique launch worldwide and is the first stand alone Piaget boutique.

Grand Seiko 50th Anniversary Collection
Japanese watch brand Seiko will launch of a series of six limited edition timepieces to celebrate the 50th anniversary of its Grand Seiko watch range. The Grand Seiko Anniversary collection includes spring drive, quartz and mechanical watches. Each timepiece features the Grand Seiko lion emblem on the dial (pictured), as well as the inscription “50th Anniversary 1960-2010.’ The spring drive and mechanical models include an 18-ct. gold lion emblem on their oscillating weights.

Parmigiani Fleurier Gets Sporty
Swiss luxury watch brand Parmigiani Fleurier has launched a sports watch in a limited series of 17 watches with a platinum case. There are 17 watches in the series because Bugatti produced 17 models of the Coupé Atalante between 1934 and 1940.

Read more

World Time e-ink watch
This curved, ultra-thin watch from Phosphor contains electronic ink, the same technology used for e-book readers, for its curved display, which shows the time in two time zones (home and away).

Read more

Bollywood star launches watch line
Bollywood star Salman Khan has launched a limited range of luxury watches named after his “Being Human” charitable foundation. Salman reportedly designed the 24 models himself and the money from their sale will support education and healthcare initiatives.

Read more

Richemont Jewelry Sales Up 32%, Watches Up 40%; U.S. Sales Up 52%

Richemont headquarters

Swiss luxury goods group Compagnie Financiere Richemont SA said Wednesday that sales for the five-month period, ended August 31, increased 37 percent in actual exchange rates, over the same period a year ago. All segments of the company and all regions saw strong growth, which reflects in part, low comparative figures reported in the prior-year period and recent acquisitions.

Richemont released its financial results for the period before its annual general meeting Wednesday, held at its headquarters in Geneva.

The company saw double-digit growth in all its brands, which it calls “Maisons.” Watch sales—which include Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis—reported a year-over-year 40 percent increase at actual exchange rates. When currency fluctuations are included the growth is 30 percent. Jewelry sales—which include Cartier and Van Cleef & Arpels—rose 32 percent at actual exchange rates and 21 percent at constant exchange rates.

Its writing instrument brand, Maison Montblanc, grew 28 percent at actual exchange rates and 20 percent at constant exchange rates. Meanwhile, its division listed as “Other,”—which include Alfred Dunhill, Lancel, NET-A-PORTER and Chloé—saw an increase of 62 percent in actual exchange rates (51 percent constant). This is at least partly due to the company’s recent acquisition of the shopping Web site, NET-A-PORTER.

By region, the Americas saw a 52 percent increase (38 percent actual), largely because of very weak comparative figures for the prior fiscal year.

The Asia-Pacific region, which includes the Middle East (51 percent constant, 36 percent actual), is the company’s most important region accounting for 41 percent of overall sales. In Europe, the sales increase of 27 percent at constant exchange rates and 23 percent in actual rates, fall to 15 percent at constant rates when new business is excluded from the figure. Meanwhile, results in Japan, (22 percent constant, 4 percent actual) were boosted due to favorable exchange rates.

In total, its retail division grew 47 percent (34 percent constant). Excluding the acquisition of NET-A-PORTER, retail sales increased by 24 percent at constant exchange rates.

Its wholesale business, which suffered in particular during the comparative period due to de-stocking by business partners in some markets, saw an increase of 30 percent (21 percent constant) for the period.

“The improved trading environment is certainly welcomed. However, it is far too soon to draw any conclusions about the sustainability of the economic recovery or whether the recession is truly behind us,” said Johann Rupert, Richemont executive chairman and CEO. “This time last year we were still seeing falling sales. This year, with double digit sales growth already in hand, Richemont will report significantly higher first half profit. However, the rest of the year is less straightforward. In the second half of last year, we saw some recovery in sales, setting higher comparative figures against which sales in the six months from October to March will be measured. Relative to the present conditions, those comparative figures were achieved with a weaker euro against the dollar and yen. Compared to the second half of last year, the current strength of the Swiss franc will be negative for the cost of sales.”

In addition to the brand’s mentioned, Richemont’s portfolio includes a Ralph Lauren Watch and Jewelry joint venture and other smaller Maisons and watch component manufacturing activities for third parties.

Piaget Produces Melody Gardot Video, 'La Vie En Rose'

Melody Gardot adorned in Piaget Rose Collection jewelry.

Grammy-nominated jazz singer, Melody Gardot, is a bit of an enigma and prodigy all rolled into a voice that has been often described as smooth, smoky and sultry. She seems to hum words and bend and roll melodic notes in a voice that is strong and elegant even when it is at a whisper.

The Philadelphia native’s remarkable story has been repeated in every article and appearance she’s ever made. At the age of 19 the bike she was riding was hit by a car and she suffered severe head and spinal injuries and a broken pelvis. Among her long-term problems are memory loss, hypersensitivity to light and loss of her sense of time. A piano player in bars prior to her accident, her doctor suggested music as therapy. She was bedridden for about year and taught herself guitar while lying on her back. She could no longer tolerate the louder music she played prior to her accident so she started writing quiet, traditional jazz songs.

Her stunning sophisticated bohemian look that is constantly changing adds to her mystique. She’s forced to walk with a cane and must wear sunglasses all the time. In many photo shoots and videos, these items serve as props.

Piaget Rose Collection ring.

Piaget tapped into this unusual elegance in song, spirit and appearance by making her the newest ambassador for the luxury watch and jewelry brand. Gardot is promoting the Piaget Rose Collection—a line of diamond jewelry inspired by the shape of a rose. It has a starting price of $1,900 but also includes diamond and precious stone pieces priced up to several hundred thousand of dollars.

Gardot recently released “The Absence,” and is on a worldwide tour promoting the CD as well as Piaget. As an added feature, The Geneva-based company produced an additional song and supporting video of Gardot singing "La Vie En Rose." It appears on a deluxe edition of the new CD. The video is below (After starting the video, please click on the full-screen box on the lower right corner to get the full effect of the video).



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Actress Gong Li is Piaget’s New Brand Ambassador

Gong Li adorned with Piaget Couture Précieuse jewelry.

Swiss luxury watchmaker and jeweler, Piaget, has named actress Gong Li as its new global brand ambassador, calling her an “icon of classic beauty, exceptional talent and steadfast dedication.”

Gong Li is best known internationally for her roles in the movies Raise the Red Lantern, which was nominated for an Oscar, and Farewell My Concubine. While starring as Jiu’er in Red Sorghum, she spent days lifting heavy water buckets on her shoulders, in order to experience the life of a rural woman she thought to depict truthfully. It was this type of “relentless pursuit of perfection, courage in face of adversity, and reinventing style of acting” that the luxury brand found appealing. 

“Movie is an important part of my life; I endeavor to do my best in understanding and rendering each character, as well as devoting myself with enthusiasm in the world of movie. This is the same for Piaget, the prominent brand that embraces challenge and seeks constant breakthrough, is a true creative precursor in the realm of Haute Joaillerie and Horlogerie.” Gong Li said. 

In a series of photographs captured by Chinese photographer Feng Hai, Gong Li is adorned with Piaget Couture Précieuse jewelry and haute couture gowns as if preparing for an appearance at an international film event. In one set of photos, she wears a classic golden mermaid-style gown with a lace folding fan-inspired necklace from the Piaget Couture Précieuse Collection along with a pair of earrings from the same collection. In another set of photos, she embraces a more modern look a white low-cut dress, a delicate tassel necklace with diamonds and pearls dangling at the ends, balanced by a pair of braided earrings.

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Richemont Reports Record Jewelry and Watch Sales

Cie. Financiere Richemont SA reported Thursday that sales for its fiscal year increased 33 percent to nearly 6.9 billion euros ($9.84 billion). Operating profit for the year, ended March 31, increased 63 percent to 1.35 billion euros. ($1.92 billion).

The Geneva-based luxury goods company reported strong sales across all segments and regions. Among the big winners for the year were jewelry and watch sales.

Richemont’s jewelry “masions,” Cartier and Van Cleef & Arpels, reported a 29 percent increase in sales to a record 3.48 billion euros ($4.9 billion), based on broad-based popularity in terms of geography and product lines. Brand owned boutiques did particularly well.

Its watch properties ( Vacheron Constantin, Baume & Mercier, Jaeger-LeCoultre, Lange & Söhne, Officine Panerai, IWC, Piaget, and Roger Dubuis), reported a 31 percent sales increase for the year to a record 1.77 billion euros ($2.52 billion), with all specialist watchmakers performing well, with the expected exception of, Baume & Mercier, which is undergoing restructuring. Operating margin increased to 21.4 percent of sales, in spite of higher costs of sales due to the appreciation of the Swiss franc and higher precious material prices.
(sales by region, outlook and CEO quotes after jump)

“We are pleased to report that Richemont has met the challenging environment of the past year by achieving strong sales growth across all segments and all geographic regions,” said Johann Rupert, Richemont executive chairman and CEO. “The year under review has seen record sales and profits for our jewelry maisons and specialist watchmakers, despite the stronger Swiss franc.… Net-A-Porter.com, which was acquired in April 2010, is performing ahead of its business plan.”

The company’s retail sales exceeded 50 percent of its overall sale for the first time because it was also the first time online luxury goods retailer, Net-A-Porter.com, was included with total sales. Excluding the e-commerce business, sales increased by 24 percent for the year. Group-owned boutiques increased to 876 boutiques with store openings primarily in growth markets, such as the Asia-Pacific region.

The Group’s wholesale business, including sales to franchise partners, grew despite being negatively impacted by the de-stocking by business partners, planned reduction in the number of points of sale in some key markets, most notably in the United States, and constraints in the supply of finished products.

Sales by Region
Sales in Europe, which account for 38 percent of total group sales, increased by 23 percent to 2.58 billion euros ($3.67 billion), reflecting purchases made by local clients and tourists and the integration of Net-A-Porter.com, to its retail sales mix.

The Asia-Pacific region now accounts for 37 percent of total group sales due to expansion by the company’s brands to take advantage of the increased wealth in the region. Sales for the year increased 36 percent to 2.57 billion euros ($3.66 billion).

Sales in the Americas, which account for 14 percent of group sales, increased 40 percent to 998 million euros. The company says that this strength in sales reflects both weak comparative sales, the integration of Net-A-Porter.com, and positive exchange rates. However, growth in the region also stems from a strong retail performance and higher levels of productivity in its wholesale network. The reported growth has occurred despite the reduction in the number of points of sale in the region.

Japan, which accounts for about 11 percent of group sales, reported an 18 percent increase in sales to 737 million euros ($1.05 billion), largely due to the significant appreciation of the yen. Yen-denominated sales increased by 1 percent, reflecting positive responses to new products and a stabilization of the Maisons’ businesses. The earthquake and tsunami of March 11 and the aftermath occurred shortly before the group’s financial year-end and consequently had only a minimal impact on the group’s performance.

In its outlook, Rupert said sales in the month of April were 32 percent above the comparative period, or 35 percent at constant exchange rates.

“In an environment currently marked by geopolitical unrest and currency instability, we hope that this positive trend will be confirmed in the coming months,” he said, adding that capital investment in its companies over the next two years will run from 6 percent to 8 percent of total sales.

Jessica Alba to Star in Piaget’s Possession Collection

Piaget has tapped actress Jessica Alba as an ambassador for its new Possession jewelry collection.

The Swiss luxury jewelry and watch brand used Alba on a multi-media campaign to promote the jewelry line. To create the imagery, Piaget commissioned photographer, Patrick Demarchelier, stylist Brad Goreski, make-up artist Lauren Andersen and hair stylist, Renato Campora.

The team created six distinct looks, each showing a different side of Alba, the company said, from a chic and casual look in a soft, relaxed sweater; or looking sexy, sharp and sophisticated in a leather blazer. Piaget’s Possession jewelry provided the accent for each in layered pieces along with the mix of white, yellow and rose gold. A video of the photo shoot in New York appears on the Piaget website.

Alba is a Golden Globe nominated actress who is known for her starring roles in movies such as

“Fantastic Four,” “Sin City.” She regularly graces the covers of top fashion magazines around the world. The wife and mother also supports several causes and charities, including Baby2Baby and Safer Chemicals Healthy Families.

‘Singing Bird Pistols’ Could Fetch $5 Million at Christie’s Hong Kong Auction

“Singing Bird Pistols” at Christie's Hong Kong

A pair of matching gold and enamel “Singing Bird Pistols” is the highlight of Christie’s Hong Kong Important Watches Spring Sale on May 30. The matching mirror-image pistols set with diamonds, agate and pearls, attributed to world-renowned craftsman Frères Rochat, is the only publicly known pair of singing bird pistols in the world, according to international auction house, which has placed an estimate of $2.5 million to $5 million.

The auction at the Hong Kong Convention & Exhibition Centre will offer 540 lots that are expected to bring in about $80 million. The sale includes 150 lots of rare enamel and pocket watches, ladies’ jewelry watches, vintage wristwatches and inspirational modern complication wristwatches.

As is typical with an auction that includes vintage watches, Patek Philippe has a strong presence. Among the top piece being offered by the famed watch brand is a Reference 2499 (left), third series in pink gold, made in 1971. In extremely fine condition, this watch is only the sixth example of the ref. 2499 third series in pink gold to ever come to the public market. Its estimate is $700,000 to $1.2 million.

Among the modern watches on sale is the Opus 6 (left), an art piece in white gold which combines stunning design with cutting-edge technical excellence. It is the result of a collaboration of famed jeweler Harry Winston and watchmaker Greubel Forsey. The unusual construction of the Double Tourbillon 30°, a signature of French-English watchmaking duo Greubel and Forsey, combines a one-minute tourbillon inclined at 30 degrees inside a four-minute tourbillon to offset any positional errors and to ensure superb chronometry. The movement provides 72 hours of power reserve, hours and minutes by co-axial discs at 3 o’clock, and small seconds disc at 11 o’clock. Limited to 6 pieces, this example is numbered 5/6, and is manufactured in 2006. Its has a presale estimate of  $300,000 to $500,000.

Of particular importance among the enamel and pocket watches being offered is a rare gold and enamel openface duplex pocket watch, circa 1815 (left), by renowned London watchmaker William Ilbery. The enamel painting on the case is executed in the manner of Jean-Louis Richard and illustrates the English watchmaker’s talent of combining high technology with the decorative arts. The presale estimate is from $60,000 to $95,000.

Among the jewelry watches featured at the sale is the Piaget Petite Galaxy, circa 1995. The case, dial and bracelet of this wristwatch in white gold, are entirely set with 221baguette-cut diamonds, weighing 21.66 cts. Its presale estimate is $60,000 to $80,000.

 The house of Audemars Piguet is represented with its geometric check-board pattern of diamonds and baguette-cut emeralds of a lady’s white gold bracelet watch, circa 2000, featuring a timeless design and high craftsmanship in gem setting. Its presale estimate is $20,000 to $30,000.

London Restaurant to Serve a Royal Wedding Piaget Jewelry Giveaway with Champagne

The exterior of Cafe Luc in London.

No, this isn’t a restaurant review. But jewelry loving readers of this website who are in London to attend the British Royal Wedding of Prince William and Catherine Middleton may want to make a special pilgrimage to this London eatery.

As a way to celebrate the Royal Wedding, Café Luc in the city’s Marylebone district is offering champagne lovers the chance to win Piaget jewelry worth up to 9,000 pounds ($14,850).

Beginning Wednesday (today) through Saturday, customers who order a glass of Louis Roederer champagne will receive a jewelry box containing a barcode. Scan the barcode in the Piaget boutique on New Bond Street before April 6 and you could be the winner of a 9,000 pound watch, or a 3,250 pound ($5,363) necklace.the restaurant did not specify the jewelry being given away.

Café Luc is a new all-day, brasserie-style restaurant that offers French/Belgian cuisine. Belgian restaurateur Luc Van Oostende and his daughter, Julie, own the restaurant, which opened in June 2010. Below is a video promoting the contest.

From the Artistic to the Mechanical, Ladies Watches at SIHH 2014

Ballon Bleu De Cartier Floral-Marquetry Parrot Watch

After a detour into mechanical movements and masculine looks last year, the 16 luxury brands at the Salon International de la Haute Horlogerie (SIHH) for 2014 returned largely to watches for ladies that highlight artistry and jewelry. That’s not to say there aren’t many mechanical timepieces on offer at this year’s show. What there is, however, is more variety than in previous years. The new releases this year give women have a choice between pure beauty, high-end mechanics or both.

Ballon Bleu De Cartier Floral-Marquetry Parrot Watch
This year, Cartier has taken up what it says is a new craft in watchmaking: floral marquetry, along with jewelry, to create a colorful parrot on the dial of this watch with a blue and the orangey-yellow plumage, a deep black of the beak, an emerald green eye and sparkling white diamonds in the background of the dial and on the crown on the 18k white and pink gold watch.

To create this dial (top image), flower petals were gathered and colored. Then each petal was stuck onto a thin piece of wood and cut into the desired shape using a marquetry saw. The material contrasts with the shine of the onyx beak and emerald eye. The grey and black feathers surrounding the eye were created with miniature painting.

The 42mm watch is powered by the Cartier Caliber 049. It is available in a limited edition of 20 pieces.

Parmigiani: The Tonda Pomellato
This watch collection is a partnership between Swiss luxury watch brand Parmigiani and Italian luxury jewelry brand Pomellato. Three of the four watches in this line are based on Pomellato’s “Arabesque” collection, characterized by an openwork lace-like design in rose gold, which gives way to transparent elements with colored gems.

The Arabesque style of the Pomellato ring that provided the inspiration of the watch design.

The Arabesque pattern was reproduced using two distinct treatments. First, the dial received an opaline surface treatment. Then the arabesque pattern is superimpose through a silkscreen printed transfer which covers the opaline. A second sand-blasting treatment is then applied, which adheres to all the surfaces not covered by the transfer. The result is the pattern, which has the appearance of a shadow, that seems to be flush with the dial. The watch is powered by the automatic Caliber PF701. The 39mm 18k rose gold case set with 28 round diamonds along the bezel.

Piaget Rose Passion
This is a classic “secret watch” in 18k white gold set with a total of 707 brilliant-cut diamonds and one pink sapphire. The timepiece comes with a white satin strap. The petite dial of the watch can be hidden within the rose-shaped bejeweled watch case.

Vacheron Constantin Métiers d’Art Fabuleux Ornements – Ottoman architecture
This piece is part of a four-watch collection that showcases several of the brand’s skeletonization and engraving skills and reflects a different culture and moment in history. For this piece Ottoman architecture was the inspiration. A pink-gold lattice motif is perched on a mother-of-pearl base. The gold grid-work in scrolling patterns is studded with half-pearl beads.

However, this watch is more than just an elaborately sculptured pretty face. It is powered by the in-house manufactured and engraved Caliber 1003SQ. The hand-wound movement with 117 components is exceptionally petite, just 21.1mm in diameter and 1.64mm thick.

Richard Mille Tourbillon Natalie Portman
This timepiece is created in partnership with Oscar award-winning actress Natalie Portman, who is also a worldwide partner of the brand. The aesthetic focus of this watch is a diamond-encrusted stylized spider that appears trapped in a tonneau-shaped, diamond-covered case. The abdomen of the spider supports the bridges of the tourbillon (made of grade 5 titanium), and its legs support the two winding barrels. The RM19-01 manual winding tourbillon caliber is assembled around a black rhodium-plated, 18k white gold black sapphire set baseplate, a first for Richard Mille. It is available in a limited edition of 20 pieces. It will be worn by the actress at events worldwide.

Ralph Lauren Stirrup
The stirrup name refers to the shape of the case. This year the designer came up with two new medium-sized editions of the watch line—in steel and the one pictured in 18k gold with the case and chain-link bracelet covered in more than 1,900 diamonds in 20 different sizes. It is powered by the caliber RL057 quartz movement.

Lady Arpels Zodiac Taurus Extraordinary Dial
This is one of a collection of 12 watches that replicate the Western Zodiac signs created by Van Cleef & Arpels. The colorful dial depicts a white gold and diamond pavé Taurus the Bull on top of translucent enamel in the shape of leaves with blue flowers made of lapis lazuli with white-gold stars with a small diamond in the center of each. The 38mm white gold case has a bezel set with round diamonds. It has a hand-wound mechanical movement and is available in a limited edition of 22 pieces.

Ballon Blanc de Cartier
This jewelry watch has a mother-of-pearl flinqué (hand-engraved) dial and blue-steel, sword-shaped hands. A single round diamond at 4 o’clock stands out among other smaller round diamonds that encircle the bezel. The 24 mm 18k pink gold case is finished with a bracelet consisting of five rows of smooth 18k pink gold beads.

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