Perhaps we are seeing an end to the trend for UHOs (Unidentified Horological Objects) and large imposing pieces in favour of a return to more classical values. Witness the continued re-discovery of almost-forgotten crafts that may even owe their revival to the success of the Swiss watchmaking industry. After Cartier’s use of Etruscan granulation, on the banks of the Rhine we saw hand-blown crystal dials from Hermès (who at the same time also re-introduced silver to the world of watchmaking) and paillonné enamel from Jaquet-Droz, among others.

 

Musical chairs

One of the rare frissons of excitement during Baselworld this year came towards the end of the show, with rumors of an imminent take-over of a major independent brand by one of the big groups. Talks of the big bosses of one such group being called to an early-morning pow-wow in Paris lent further credence to the claims. Yet the rumour quickly fizzled out and nothing more was heard about it. But after the calm of Baselworld came a watchmaking storm out of the blue, not in mergers and acquisitions but in human resources, as Rolex had to act quickly to confirm rumors of the appointment of Jean-Frédéric Dufour as its new managing director. Industry veteran Aldo Magada was in turn chosen to continue the turnaround led by Dufour in Le Locle, leaving a position open at Breitling at the time of going to press.

 

The quest for growth

When set against the background of the financial results for the big groups, the race to snap up the best talent seems all the more logical. At the SIHH and Baselworld, everything is, of course, rosy and at first glance the figures seem to back this up. Furthermore, the mood at the TimeCrafters exhibition in New York in May, a show that is more in touch with end customers, was much more upbeat and the exhibition translated into sales for a number of the high-end exhibitors. But on closer inspection operating profit seems to be growing at higher rates than sales, or, to put it another way, expenses are increasing at a slower rate than sales (which in some cases are not increasing at all but declining). The experience of a talented manager is therefore crucial in achieving the necessary rationalisation. The financial health of Rolex is well screened by its structure as a foundation, but could this unexpected change in personnel not be a reaction to such a scenario ?

 

Reach for the stars

Whether or not there are clouds on the horological horizon, the industry is not about to return to the Dark Ages, even if Urwerk boldly went back this far for the inspiration behind its new UR-105M timepiece. Feet may be planted firmly on the ground on planet watchmaking, but the widespread acclaim for the Midnight Planetarium presented by Van Cleef & Arpels at the SIHH and the Astronomia Tourbillon unveiled by Jacob & Co at Baselworld this year is the reward for those prepared to reach for the stars.