IWC’s latest release has 550 parts and weighs a hefty 4 kilograms. It was three years in the making. It’s sure to delight watch lovers everywhere, though it does not tell time. It’s a book. As you would expect, IWC Schaffhausen. Engineering Time Since 1868 chronicles the company’s history from the founding in 1868, but it also includes an unexpected “book within a book”. More about that in a minute.

The book has three authors. German journalist Manfred Fritz presents the comprehensive company history, compiled with careful attention to historical accuracy. Fritz comes from the area near Schaffhausen and he is a genuine watch enthusiast who has published a number of watch-related books. He previously authored Die Grande Complication von IWC (The Grande Complication of IWC), published in 1991. The book includes 500 illustrations, many of which have never been published before. The historical section looks closely at each of IWC’s watch families dating back to the mid-1930s. The section closes with a comprehensive list of IWC calibers.

The “book within a book” is a collection of seven short stories by Brazilian author Paulo Coelho, illustrated by Enki Bilal. The author of several best-sellers, Coelho’s work has been translated in 69 languages and edited in more than 150 countries. He is listed in the Guinness Book of World Records as the most translated living author. With due poetic license, Coelho looks at IWC’s foundation phase and its six product families. His narratives are interpreted by an artist of equal stature. In modern, vibrant colors, works by the Paris-based illustrator, cartoonist and film director Enki Bilal mirror Coelho’s abilities as a storyteller.

The “book within a book”

Authors (left to right) Manfred Fritz, Paul Coelho and Enki Bilal

“We decided not to bring out a classic, standardized book about watches. Instead, by adopting an unusually artistic approach, it was our intention to attract a broader public so they could experience the charm, uniqueness and fascination of the IWC brand,” writes CEO Georges Kern in his foreword. After all, it goes without saying that what the legendary IWC seal of quality has so aptly expressed since 1903 applies equally to this work: Probus Scafusia – Good, solid craftsmanship from Schaffhausen.

The IWC Manufacture in Schaffhausen

IWC Schaffhausen. Engineering Time Since 1868 is available in English, German, and French (ISBN numbers below). The book is priced at CHF 250. It is available at www.iwc.com and in bookshops from the end of April. Advance orders are now being taken.

English edition: ISBN 978-3-7165-1631-7
French edition: ISBN 978-3-7165-1632-4
German edition: ISBN 978-3-7165-1630-0

Top Hollywood celebrities wore IWCs as they made their way down the famous red carpet Sunday night. Taylor Lautner wore the Portuguese Chrono Automatic, Quentin Tarantino wore the Big Pilot, and Robin Williams wore the Pilot’s Mark XVI. Parmigiani Fleurier once again co-sponsored Sony Pictures Classics’ pre-Oscar celebration in Beverly Hills on Saturday night. Guests included Best Actress Nominee Carey Mulligan for “An Education” along with Helen Mirren and Christopher Plummer. Parmigiani is an active partner of Sony Pictures Classics events; this is the third Oscar event Parmigiani has sponsored for the independent film company.

Below, Michelle Veyna, President of Parmigiani Fleurier North America (R) with Best Actress nominee Carey Mulligan who starred in “An Education”

Michelle Veyna with Christopher Plummer and Helen Mirren

Twenty years ago IWC debuted its Grande Complication, and at SIHH 2010, the 657-component movement made its first ever appearance in a Portuguese case. Dubbed the flagship of the Portuguese fleet, the automatic-winding 79091 caliber offers a chronograph that records up to 12 hours, perpetual calendar displaying the day, date, month and the complete year in four digits, moon phase accurate to 1 day in 122 years, minute repeater, and small hacking seconds.

IWC’s original Grande Complication required 7 years of development to make so many complications fit in a wearable wristwatch. Though the movement is highly complex, the dial displays are crystal clear, and the 4 digit year display at 8 o’clock has become a signature visual reference point. The 45mm case is well proportioned, and remarkably for a minute repeater, it offers 3 bar water resistance. In keeping with the spirit of the Portuguese seafarers, the caseback is engraved with a sextant, and the silver dial features an engraved globe with lines of longitude and latitude, positioned in the correct 23.4-degree angle of inclination of the terrestrial axis.

The previous Grande Complication will continue to be built in parallel with the new Portuguese model, which will be limited to 50 numbered examples annually. The Portuguese Grande Complication is priced at $217,000.

Additional information appears below the images, which can be enlarged with a click.

IWC Portuguese Grande Complication

Ref. IW3774

Features

Grande Complication with 657 mechanical components, automatic chronograph movement, perpetual calendar with display of the day, date, month and the complete year in four digits, perpetual moon phase, minute repeater, small hacking seconds, engraving of a sextant on the case back

Movement

Calibre: 79091
Beats: 28,800/h
Jewels: 75
Power reserve: 44 h
Winding: automatic

Case

Materials: watch and folding clasp in 18 ct red gold, silver-plated dial, dark brown alligator leather strap with 18 ct red gold stitching
Glass: sapphire, arched edge, antireflective coating on both sides
Water-resistant: 3 bar
Diameter: 45mm
Height: 16.5mm

For IWC, 2010 is the “Year of the Portuguese” and fans of the brand will be happy to read that the manufacture is offering two beautifully simple 44mm models in stainless steel cases, each with an original pocket watch movement of the type that the first pocket watch-style wristwatch appeared with seventy years ago.

Two models are available. The first is stainless steel with a black dial, rhodium-plated Arabic numerals and the characteristic feuille hands with a silver-plated seconds subdial featuring a distinctive “60” in signal red. Its sibling model with a silver-plated dial and rose gold-plated indices and hands stands out with its seconds subdial in light gray, also with a small red “60”. Features common to both are the typical chapter ring in the traditional railwaytrack style and, as the drive mechanism, the IWC-manufactured 98295 caliber with stylistic echoes of the first Jones movements, such as the nickel-silver three-quarter bridge and the elongated index to facilitate precision adjustment of the effective length of the spring.

The Portuguese Hand-Wound will be priced at $8300. It will be in IWC boutiques in June with broader distribution beginning in September.

Additional details appear below the image, which you may click to enlarge.

Features

Mechanical movement, balance with high-precision adjustment cam on the balance arms, Breguet spring, plate and nickel-silver three-quarter bridge, elongated precision adjustment index, special decoration (Geneva stripes), small hacking seconds

Movement

-Caliber 98295
-Beats 18,000/h
-Jewels 18
-Power reserve 46 h
-Winding hand-wound

Case Materials

- stainless steel with black dial and black alligator leather strap, pin buckle in stainless steel

- watch in stainless steel with silver-plated dial and black alligator leather strap, pin buckle in stainless steel

Glass

Sapphire, arched edge, anti-reflective coating on both sides

Back

See-through sapphire-glass back
IWC,
Water-resistant: 3 bar

Height: 10mm

IWC brings the Yacht Club back in the iconic Portuguese case as the 45.4mm Yacht Club Chronograph, the first sporty model in the Portuguese family. The movement is IWC’s manufacture caliber 89360. Its chronograph permits the recording of aggregate times of up to twelve hours on the common counter for the minutes and hours and can be reset to zero via the flyback function at any time while running, so that it is instantly ready to start measuring a new time.

Built for sea duty, a screw-in crown and crown protection help protect against the elements, and the case offers 6 bar water resistance. Consistent with the sporty theme, this watch has luminescent indices and hands – a first in the Portuguese family.

The Portuguese Yacht Club Chronograph is available in three variants:

- steel with a silver-plated dial, rhodium-plated luminescent hands and appliqués.

- steel with a black dial, silver-plated flange and rhodium-plated hands and appliqués, also luminescent.

- 18 carat red gold with a slate-colored dial with a sun pattern ground finish, subtly contrasted by the black small seconds display circle and the black ring for the aggregate minutes of the chronograph. This model is distinguished additionally by gold-plated hands and solid red gold appliqués.

All three variants are worn on a black rubber strap with a folding clasp. The sapphire-glass back offers a clear view of the IWC-manufactured movement with double-pawl winding.

The Yacht Club Chronograph is priced at $12,600 in steel and $23,100 in red gold. Look for it at IWC boutiques in June, with a broader launch in September.

Additional technical details appear below the images, which can be enlarged with a click.

Portuguese Yacht Club Chronograph

Chronograph with IWC-manufactured automatic movement and IWC’s double-pawl winding, flyback function, stopwatch function with hours, minutes and seconds, hour and minute counters combined in a single subdial at 12 o’clock, date display, small hacking seconds, crown protection

Movement: Calibre 89360

- Beats: 28,800/h
- Jewels: 40
- Power reserve: 68 h
- Winding: automatic

Glass: sapphire, convex, anti-reflective coating on both sides

Back: see-through sapphire-glass back

Crown: screw-in

Water-resistant to 6 bar

Diameter 45.4mm

Height 14.5mm

Portuguese Yacht Club Chronograph

IWC’s iPhone application is officially live. The app is available for free download on iTunes – just log in to iTunes and search “IWC” to locate it. The app showcases the entire collection, plays all of the IWC films, downloads screensavers and locates IWC Boutiques and authorized retailers. Users can explore details of the IWC watch collection through images and specifications. Complicated mechanisms are explained with digital animations. Use the “try it on” function to virtually put various IWC models on your wrist.

Here are a few screenshots…

Hong Kong and Schaffhausen may seem worlds apart, but they have something in common: a very special place to view IWC timepieces. IWC’s Flagship Boutique is their fourth Hong Kong location, and the most extravagant, and it may provide a model for future boutiques in key markets. The boutique presents a unique backdrop and offers insight into the worlds of IWC.

Each IWC timepiece collection is presented in a thematic room. The Portuguese collection is displayed in a Navigators’ Lounge with dark wood floor panels and custom recessed glass display cabinets reminiscent of a luxury yacht. The Pilot series is housed in the Sports Lifestyle Wing with 1930s club chairs and IWC aviator jackets. This room also offers a flight simulator. Da Vincis are displayed in an atmosphere of inventiveness and aesthetic sophistication. The Aquatimer room conquers the depths and presents the intriguing story of the Galapagos Islands. Each room brings the collection to life.

In Roland Emmerich’s new action film “2012″, the end of the Mayan Long Count Calendar brings a global cataclysm that threatens the survival of the human race. John Cusack stars as Jackson Curtis, an IWC owner who uses his Mark XVI pilot’s watch as collateral to secure seats on a small plane, saving himself and his family. Click this link to watch the wild ride that follows.

In this still from the film, John Cusack as Jackson Curtis offers his Mark XVI to board the airplane…

The watch that saves the day…

Commenting on the partnership, Benoit de Clerck, President of IWC North America said, “In each of his films, and especially in 2012, Roland Emmerich has shown not only an impressive skill for story, but also incredible technical capabilities to realize the visual effects he’s envisioned. IWC shares his passion for innovation, precision, fine details, and craftsmanship, so we’re thrilled to play a role in the film and support its release.”

Apocalypse and sweeping special effects are Emmerich’s forte – he directed “Independence Day” and he produced “The Day After Tomorrow”. “2012″ also stars Amanda Peet, Danny Glover, and Wood Harrelson. The film is directed by Roland Emmerich and written by Roland Emmerich & Harald Kloser. The film is produced by Harald Kloser, Mark Gordon, and Larry Franco. “2012″ opens November 13.

This is the time of year when market analysts release holiday shopping forecasts. Come along as we take a look at three important reports released recently. One focuses on global consumer confidence, one on the state of the USA retail trade, and one on retailer holiday plans. Sprinkle in comments from a leading watch brand CEO on the state of the economy and how his brand has been affected, and the future comes into focus.

The Nielsen Global Consumer Confidence Survey highlights the economic pessimism prevalent among American consumers The survey polled 14,029 online consumers in 28 countries. Overall, 71 percent of respondents thought their country was in recession. This reflects a decline of six points from a high of 77 percent when the survey ran in March 2009. In this age of lowered expectations, this is viewed as good news. Compare this however with 93 percent of Americans who say they are still in a recession. Americans are also twice as worried about debt when compared with the rest of the world.

These concerns have translated into widespread spending reductions: 76 percent of North American consumers said they have reduced spending and implemented cost-cutting measures. While the study showed that few consumers plan to continue their cost-cutting ways long-term, many experts believe that optimism and increased spending will return to North America more slowly than in other parts of the world.

The BRIC countries (Brazil, Russia, India and China) and Asian markets recorded the largest jumps in Consumer Confidence Indices in the past three months. Consumer confidence in India jumped 13 Index points, and climbed 9 points in Japan, South Korea, Hong Kong and Indonesia. Consumer confidence was up 8 Index points in Taiwan and Brazil, and 7 points in Singapore, Turkey, Russia, Philippines and the UK. The USA and New Zealand did not share this optimism, holding flat in the second quarter. Germany was the only country to register a decline of one Index point, but more recent indicators point to Germany and France entering the early stages of economic recovery.

The National Jewelers Holiday/Q4 Inventory and Marketing Survey finds a generally pessimistic mood among USA jewelry retailers when it comes to the 2009 holiday season. A full 86 percent of the participating jewelers said that overall inventory for the fourth quarter will be the same size or smaller than 2008, which was not exactly a banner selling season. Spending on marketing will also decline in the fourth quarter, with 82 percent of participating retailers reporting they will spend the same or less on marketing as last year. The largest percentage of respondents this year (30 percent) said they will be spending significantly less on marketing. This is up from only 11 percent who planned a major reduction in 2008. Another 27 percent said they plan spending slightly less on marketing than in 2008, and about a quarter of the respondents said they will spend the same as last year.

In terms of how marketing dollars are being spent, retailers’ favorite method for reaching potential customers is direct mail. Print advertising is next (20 percent), followed by a tie between radio and online/e-mail (10 percent each). The percentage of retailers who find web advertising to be effective doubled from 2008 to 2009, but only 1% of the respondents rate social networks and blogs to be the most effective way to reach potential customers.

When asked which products they will market most heavily this holiday season, watches finished well down the list. Diamond jewelry finished on top with 29 percent. Loose diamonds and custom work came in at 10 percent, followed by bridal jewelry and designer and/or jewelry brands at 9 percent each. Colored-gemstone jewelry and sterling silver and other low-priced items will be the main focus for 8 percent, while 4 percent plan to promote private-label jewelry. Watches finished next to last at just 2 percent, beating out specific diamond programs such as Three Stone, which came in at 1 percent.

The grim news continued, especially for brick-and-mortar retailers, in Grant Thornton’s Reviving Retail: Strategies for Growth in 2009. The report found that 10,000 USA retailers of all types will close their doors in 2009. Beyond the obvious impacts of the economic downturn, the report cited the growing popularity of online shopping as a major causal factor. The report points to 2008 sales, where a handful of online companies such as Zappos.com showed strong sales growth, even in a severely restricted economic environment. Product categories that were hard hit 2008 did better online. For example, jewelry and watch sales declined 34 percent overall, but only 24 percent online. Apparel sales were off 19 percent overall, but only 4 percent online.

Our final data point comes from an interview given by IWC CEO Georges Kern that was published in German in the August 25 online edition of Handleszeitung. Kern indicated that while IWC’s U.S. sales have declined, as they have for all luxury brands, overall IWC sales have performed better than the industry average, which saw exports plummet by 25.9% in July. IWC was helped by strong performance in the China, Hong Kong and Macao markets. Kern said that IWC is performing better than was projected a few months ago.

Asked if IWC will have to scale back production, Kern said that will not be necessary, as the company stayed reasonable and did not build up excess capacity during the boom years.

Taking a closer look at how the economic crisis has affected buying habits and trends, Kern said the market has seen an end to impulse purchases by bonus-spending executives. Today, purchasing decisions take longer. When they decide to buy, consumers are opting for “modest elegance”, as watches “with lots of gold or platinum” are less in demand today. Consumers remain loyal to the brand, however they tend to buy lower-priced models. Rather than platinum, steel is the choice today. Kern said that these days, a watch should not be pretentious, as that can be counterproductive, for example in a meeting with business partners.

Looking at the retail landscape, Kern said there is hope for improvement, however IWC remains cautious and certainly there is no reason for euphoria. There are signs of stabilization, and IWC hopes to weather the crisis with only a few bruises.

Asked about the luxury watch industry, Kern sees a chance for further consolidation. The number of brands will decline as those with little content disappear. IWC on the other hand is taking bold steps to prepare for the future, for example investing in Asia (and especially China). A recently-opened flagship boutique in Hong Kong points the way to the future, as strong brands continue to invest even during trying economic times. The flagship boutique model may be repeated in other markets, such as Switzerland, the USA and Dubai.

Sources

Nielsen Global Consumer Confidence Survey (.pdf format)

National Jewelers Holiday/Q4 Inventory and Marketing Survey (.pdf format)

Reviving Retail: Strategies for Growth in 2009 (.pdf format)

Handleszeitung interview with Georges Kern (German language)

Aquatimer Deep Two

The diver’s watch with a mechanical depth gauge makes a return after ten years in the form of the Aquatimer Deep Two, pressure-resistant to 12 bar. Like its predecessor, the GST Deep One from 1999, it shows not only the actual dive depth, but also the maximum depth reached during a particular dive. It thus doubles as a complete second safety system alongside the dive computer. Whereas the GST Deep One was able to measure water depths down to 45 meters, the Aquatimer Deep Two features a semi-circular indicator on the dial, which records depths down to 50 meters. Its pressure measurement system is contained in a second large crown on the left side of the case. The water pressure acts directly on a membrane inside this crown and forces a pin into the interior of the case. This movement actuates a lever mechanism connected to the measurement hands. However, only the raised tips of the hands at the level of the dial can be seen to move over the indicator scale through a semi-circular slot in the dial. The hands in this case are led around the movement. This solution avoids the need for the path of the arbors to pass through the movement. The depth indicator (blue) moves over the white measuring field as the depth of water increases or decreases. The maximum depth indicator (red) always re mains at the greatest depth reached. It can be re leased by a button underneath the depth-gauge sensor crown on the left side of the case. The Aquatimer Deep Two is the only member of the family with a case diameter of 46mm. Priced at $14,900 on strap and $15,900 on bracelet. Here’s an image of the Deep Two. Click it to view a larger version…

Aquatimer Chronograph Edition Galapagos Islands

Featuring the same 44mm case size and the same automatic drive mechanism (79320 caliber movement) as the Aquatimer Chronograph, the Aquatimer Chronograph Edition Galapagos Islands is the ambassador of a new collaboration between IWC and the Charles Darwin Foundation with its presence on the Galapagos Islands. The matte black stainless steel case, completely coated with vulcanized rubber, the black dial and the strongly contrasting white indications together with the black rubber strap make the watch, which is pressure resistant to 12 bar, a strong statement on the wrist.

Aquatimer Chronograph

Featuring attributes of the new Aquatimer family such as the external rotating bezel and the bracelet quick change system, the Aquatimer Chronograph is available in stainless steel with either a stainless steel bracelet or a rubber strap. There are two dial variants: Aquatimer signature colors of black and yellow, or blue and coral red. The watch in its 44 mm diameter case is pressure resistant to 12 bar. The 79320 caliber chronograph movement records aggregate times up to 12 hours on rhodium plated inner dials. The Chronograph provides day and date displays. Priced at $6500. Click the image below to view a larger version…

Aquatimer Chronograph in Red Gold

Of the diver’s chronographs, the Aquatimer Chronograph in red gold stands out particularly in both visual and horological terms. It is the first watch in the Aquatimer family to be equipped with the IWC manufactured 89360 calibre, the chronograph movement developed and built in its entirety by IWC. It is distinguished by its flyback function and the two-hand display of the long stop times on a single inner dial. The 89360 caliber movement, wound by the IWC double pawl automatic winding system, can also be observed through the sapphire glass back. This watch, which is pressure-resistant to 12 bar, is only available in a 44-mm diameter red gold case with a black rubber strap. MSRP $19,900.

Aquatimer Automatic 2000

The Automatic 2000 holds the water-resistance record in the Aquatimer family with its tested pressure resistance of 200 bar. This handsome model features a white dial with orange or white numerals on a white or dark blue background on the rotating bezel and an orange hour hand. A second variant has a black dial and a black external rotating bezel with the familiar luminous yellow 15-minute segment of the previous Aquatimer in stainless steel. The color yellow is also used for the minute hand, which indicates the dive time, to ensure a clear distinction. It is powered by the 30110 calibre automatic movement. The Aquatimer Automatic 2000 is available with an optional stainless steel bracelet or a rubber strap.

Here is a family shot…

You can click here to see the specifications for these watches, including weights and case dimensions.