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Moonstruck Astronomical wristwatch. Self-winding. Moon phases. 18 ct rose gold case. Water-resistant to 100 m. Leather strap with folding buckle. Limited Edition of 500 pieces. F O R A C ATA L O G , C A L L 5 6 1 - 9 8 8 - 8 6 0 0 O R E M A I L : U S A 3 @ U LY S S E - N A R D I N . C O M W W W . U LY S S E - N A R D I N . C O M



With its distinctive design featuring clean, architectural lines, the Hampton collection for both him and her embodies a natural elegance and expresses the art of living.


Pocket Watch VINTAGE PW1 49 mm . Wristwatch VINTAGE WW1 45 mm - Alligator strap Bell & Ross Inc. +1.888.307.7887 . information@bellrossusa.com . e-Boutique: www.bellross.com

EDITOR'S Letter "Diabolically Complex" Mido's COSCcertified $850 Commander Jaeger-LeCoultre's Jérôme Lambert ot so long ago, Jaeger-LeCoultre was pretty much a one-trick pony. The trick was the Reverso and it was, admittedly, amazing. It brought fame, fortune and a cult following to the brand. But through the 1990s, Jaeger-LeCoultre's reputation as a watch manufacturer relied for the most part on that watch. Not anymore. As executive editor Norma Buchanan points out in this issue's cover story, for the past decade, Jaeger has introduced a slew of new watches with high complications. They are the result of a deliberate strategy by JLC CEO Jérôme Lambert to showcase the firm's long and deep expertise as a producer of high-mechanical movements. "Somehow we were not putting that expertise on stage," Lambert told Buchanan. "We had this fantastic mastery, but no product really embodied that level of expertise." Since the introduction of the Gyrotourbillon 1 in 2004, we have all learned that there is much more to Jaeger than its famously swiveling case. Its latest mechanical eye-popper is the Duomètre a Sphérotourbillon, the first tourbillon watch with a stop-seconds flyback function. Jaeger is unveiling the watch at the SIHH show in Geneva in mid-January. Buchanan got a sneak preview at the Jaeger manufacture in Le Sentier in November. She describes the Sphérotourbillon, whose movement has 460 parts, as "diabolically complex." Her story, "Twin Powers," explains the "dual wing" concept behind Jaeger's Duomètre series of watches, of which the Sphérotourbillon is the fourth. Buchanan's story begins on page 70. Buchanan's been busy lately. A few weeks before her visit to JaegerLeCoultre, she traveled to Shanghai for the opening of an unusual permanent exhibition that Rolex has opened on the city's famous Bund. Until now Rolex has trod lightly in the world's hottest watch market. Find out why, and what Rolex is doing there now, in "With Rolex in China" on page 64. Also racking up air miles for this issue was managing editor Mark Bernardo. He traveled to Dubai for the launch of the Blancpain X Fathoms concept watch, the next generation of its famous Fifty Fathoms dive watch. "Generation X," Bernardo's report on the giant watch (it's 55.65 mm wide and 24 mm high), starts on page 92. This issue's watch tests and reviews feature four watches ranging in price from $850 to $25,100. This year marks the 40th anniversary of Audemars Piguet's Royal Oak. We kick off the festivities with a test of the Offshore Diver watch. In addition to the usual wealth of information about the watch, our tester, Alexander Krupp, offers a bonus in this piece, something even owners of the watch don't see: a view of the movement with the solid caseback removed. The decoration on the 22k-rose-gold rotor is worth a long look. It features the coat of arms of both the Audemars and Piguet families. The story, "Diving Class," starts on page 78. The other test is of Chanel's ultra-light (130 grams) J12 Chromatic watch, with a titaniumceramic case ("Shades of Gray," page 86). Reviewer Martina Richter gets up close and personal with the Glashütte Original PanoMaticCounter XL in the upper price segment (page 54) and the Mido Commander Chronometer in the far more affordable range (page 100). Fans of unconventional design will love the PanoMaticCounter XL, with its four dial rings, two large apertures, and five side pushers. The Mido Commander is noteworthy as one of the most affordable watches available with a COSC-certified movement, in this case the ETA 2836-2. One tidbit Richter offers is that Mido gets its name from the Spanish words "Yo mido," meaning "I measure." Joe Thompson Editor-in-Chief WatchTime February 2012


CONTENTS WatchTime, January-February 2012 COVER STORY 70 TWIN POWERS A look at Jaeger-LeCoultre's headline introduction for this year, the Duomètre Sphérotourbillon. It has two independent barrels for greater precision, an inclined, double-axis tourbillon, and much more. Plus: an interview with JLC CEO Jérôme Lambert. TESTS & REVIEWS COUNTER INTELLIGENCE Up close with Glashütte Original's PanoMaticCounter XL, with its unconventional dial design and innovative counter function. DIVING CLASS We put Audemars Piguet's Royal Oak Offshore Diver, a watch built for sport but suited for leisure, through its paces. SHADES OF GRAY With its shiny, lightweight, titanium-ceramic case, Chanel's J12 Chromatic is a triumph of form. Now we see how it functions. COMMAND PERFORMANCE Mido's Commander Chronometer has a vintage look and a COSC-certified movement. We take a closer look at the modern version of this 50-plus-year-old model. 40 46 FEATURES WHO OWNS WHAT A handy guide to which watch and luxurygoods groups own which watch brands. CALENDAR KING Kurt Klaus, the master watchmaker and perpetual-calendar expert whose work has defined IWC's watches for decades, remains a vital ambassador for the brand. WatchTime February 2012

IWC. Engineered for men. The future's safe. Portuguese Perpetual Calendar. Ref. 5032: One thing at IWC always remains the same: the desire to get even better. Here is one of the finest examples, with the largest automatic movement manufactured by IWC, Pellaton winding and a seven-day power reserve. The perpetual calendar shows the date and moon phase and is mechanically programmed until the year 2499. In short: a watch that has already written the future. IWC. Engineered for men. Mechanical IWC-manufactured movement | Pellaton automatic winding system | 7-day power reserve with display | Perpetual calendar (figure) | Perpetual moon phase display | Antireflective sapphire glass | Sapphire-glass back cover | Water-resistant 3 bar | 18 ct red gold

CONTENTS February 2012 64 WITH ROLEX IN CHINA The world's biggest watch brand takes on the world's biggest watch market. GENERATION X Blancpain took dive-watch technology to a new level in 1953 with the Fifty Fathoms. Now it intends to do so again with its new "extreme" concept watch, the X Fathoms. DESIGN DOYENNE A conversation with Sandrine Stern, Patek Philippe's design director and wife of CEO Thierry Stern 78 92 DEPARTMENTS & COLUMNS 10 18 20 EDITOR'S LETTER READERS' FORUM WATCHTALK New rules for the Geneva Seal, Oris's Kittiwake watch, Hublot and Ferrari together at last, and more WATCH QUIZ Test your knowledge of the watch-related headlines of 2011. FINE CARS Motown gets its mojo back with the 2012 Chrysler 300 sedan FINE PENS Edison is a small company that is growing for good reason. FINE SPIRITS How did the classic Sazerac cocktail become synonymous with the Big Easy? FINE CIGARS The historic Graycliff Hotel in the Bahamas is also home to a prestigious cigar brand. FACE TIME A photo mélange of readers and their watches LAST MINUTE How the strong Swiss franc is weakening the Swiss watch industry WatchTime February 2012 ON THE COVER: The Duomètre Sphérotourbillon from Jaeger-LeCoultre

pa n e r a i . c o m history a n d heroes. luminor 1950 3 days - 47mm Available exclusively at Panerai boutiques and select authorized watch specialists. BAL HARBOUR SHOPS o BEVERLY HILLS o BOCA RATON o NEW YORK o PALM BEACH

THE MAGAZINE OF FINE WATCHES Editor-in-Chief/Associate Publisher Executive Editor Managing Editor Online Editor Special Projects Editor Car Columnist Pen Columnist Spirits Columnist Art Direction/Design Illustrations Contributing Writers Translations Photographers Joe Thompson Norma Buchanan Mark Bernardo Michael Disher Amy Bernstein Marty Bernstein Jan DiVincenzo Richard Carleton Hacker Publishers Factory, Munich Sascha Pollach Gisbert L. Brunner Rüdiger Bucher Maria-Bettina Eich Julia Knaut Jens Koch Alexander Krupp Alexander Linz Witold A. Michalczyk Martina Richter Elmar Schalk Gerhard Seelen Lucien F. Trueb Thomas Wanka Iris Wimmer-Olbort Howard Fine Joanne Weinzierl Nina Bauer Frank Herzog Imagina Marcus Krüger OK-Photography Eveline Perroud Maik Richter Nik Schölzel Zuckerfabrik Fotodesign CEO Managing Director/Publisher Advertising Director Advertising Manager Production Director Newsstand Circulation Gerrit Klein Dominik Grau Sara M. Orlando Rosangela Alonzo Michael Kessler Ralph Perricelli and Irwin Billman MCC WatchTime (ISSN 1531-5290) is published bimonthly for $39.97 per year by Ebner Publishing International, Inc., 274 Madison Avenue, Suite 804, New York, NY 10016. Copyright Ebner Publishing International, Inc. All Rights Reserved. January/February 2012 issue, Volume 14, Number 1. POSTMASTER: Send address changes to WatchTime, WatchTime Subscription Service, P.O. Box 3000, Denville, NJ 07834-3000, Tel. 1-888-289-0038. Publications mail agreement no. 40676078: Return undeliverable Canadian addresses to P.O. Box 503, RPO West Beaver Creek, Richmond Hill, Ontario L4B 4R6. www.watchtime.com


READERS' Forum "HAVING AN AMBASSADOR SLAMMING CLUBS AND DROPPING F-BOMBS IS ONLY A FIT FOR ENTERPRISES THAT CULTIVATE A 'BAD BOY' IMAGE, SUCH AS NIKE." ROLEX'S "BAD BOY" I must agree with Joe Thompson's dinner companions regarding the wisdom of Rolex signing Tiger Woods as an ambassador ("Rolex and Tiger: It's About Time," WatchTime, December 2011). I don't think it is a good move for the iconic brand's image. Regardless of his accomplishments on the golf course, Mr. Woods has been exposed publicly as a person of poor character and judgment. His indiscretions went on for several years and cannot be dismissed as a one-time mistake. Nor can it be chalked up to immaturity, as it went on until Mr. Woods was almost 35 years old. It more demonstrates who and what he is: another spoiled athlete whose sense of entitlement was such that he had no consideration of the wreckage he was bringing to innocent people by his actions. Aside from that, Mr. Woods's demeanor on the course has been, and continues to be, atrocious. For several years he was the most fined player on the PGA Tour but was given a pass by the media, as they could not jeopardize their access to him. Having an ambassador slamming clubs, stiffing the press and dropping loud F-bombs is only a fit for those enterprises that cultivate a "bad boy" image, such as Nike, whose demographic is much different than Rolex's. On the upside, I am sure that Rolex got him "on the cheap" but he will never be equal to Mr. Palmer, Mr. Player or Mr. Nicklaus -- ambassadors, golfers, and family men any company would be proud to sponsor. Skip Cuevas via email 'TOO LENIENT' Alexander Linz's review of Jaeger-LeCoultre's Navy SEALs watch ("Send in the SEALS") in the December issue has taken me by surprise. Generally, WatchTime reviews are quite objective and accurate, albeit in the guarded language of a special-interest magazine. But not in this case. I own a JLC Automatic Navy SEALs watch bought new in Philadelphia. Firstly, a leather strap on what pretends to be a serious diving watch is plain ridiculous. And the metal/rubber bracelet, which I also bought, is substandard. The bracelet has no adjustment for a diving suit or for anything else. The clasp is rather feeble when compared to a Rolex Submariner's clasp, for instance. The bezel on the Navy SEALs watch rotates all too freely, which becomes a nuisance when worn under the sleeve of a uniform or jacket. The hands are hard to read, as they are only partially painted (a central strip of luminous material); thus, the hour markers are more prominent than the pointers. In short, the JLC Navy SEAL is half the man he seems to be. I believe your review to be way too lenient, or maybe just rushed. Juan Mendez Panama, Republic of Panama WHERE'S JUVENIA? Whatever happened to Juvenia? In Cuba, back in the 1950s, my family and friends and I owned Juvenia watches. At that time, Juvenia was also big in South America. I understand that Juvenia was purchased by a group in Hong Kong, but for the years I have been receiving WatchTime magazine I have never seen any mention of it. I own a vintage Juvenia with the label Cuervo y Sobrinos on the dial [shown at left]. The watch, in incredible top condition, was originally purchased in the mid-1950s at Cuervo y Sobrinos, the famous watch-and-jewelry store from which the new Swiss luxury-watch company Cuervo y Sobrinos takes its name and its tradition. Is Juvenia still alive? Tomas C. Armstrong Miami, FL Very much so. Juvenia, the Swiss watch firm founded in 1860, is located today in La Chaux-de-Fonds, Switzerland. As you note, it is owned by a prominent, publicly traded Hong Kong firm, Asia Commercial Holdings Ltd., which has strong ties to the watch business. You have not seen Juvenia in WatchTime because the brand is not distributed in the United States at this time. Juvenia has a strong following in Hong Kong and China. For more information, go to www.juvenia.com. JT Rolex's new ambassador A Juvenia purchased in Cuba around 1955 WatchTime welcomes correspondence from readers. Send comments to editor-in-chief Joe Thompson at 274 Madison Avenue, Suite 804, New York, NY 10016 or via e-mail to jthompson@watchtime. com. Please include your full name, city and state, and country (if outside the United States). Letters may be edited for length or clarity. Due to the volume of correspondence, WatchTime cannot acknowledge all the letters it receives. However, each one is read in full. WatchTime February 2012

T WO HEARTS. REAL PRECISION. DUOMÈTRE À QUANTIÈME LUNAIRE. Jaeger-LeCoultre Calibre 381. The Dual-Wing concept is a genuine horological revolution featuring two distinct mechanisms synchronised by a single regulating organ. The patented jumping stop-seconds function enables time-setting to the nearest 1/6th of a second. YOU DESERVE A REAL WATCH.

WATCHtalk New Rules for the Geneva Seal Companies now have to test complete watches, not just movements, to qualify them for the Seal. 2011 was the 125th anniversary of the Geneva Seal. he Geneva Seal, the quality seal awarded to mechanical movements made in the Canton of Geneva that meet certain standards, has had its share of criticism. The major complaint has been that the requirements for the Seal have been related only to the finishing of the movement, rather than how well the movement, and the watch containing it, work. Furthermore, the Seal has not had any requirements related to the watch's case and other exterior components. That has changed. The Seal's new administrator, an entity known as Timelab (the Geneva Laboratory of Horology and Microengineering), has revamped the Seal's requirements so that the watch's performance is taken into account. The major change is that tests will be conducted on complete watches. Previously, only the uncased movement was tested. In addition, the Seal's finishing requirements have been extended to cover some components not covered before. The new rules, announced in November to coincide with the Seal's 125th anniversary, will go into effect in June, but companies can get a one-year extension to have more time to comply with them. They apply only to new watch models as they are introduced. Existing models will continue to be certified under the old rules. To qualify for the Seal, watches must meet the following standards: The Geneva Seal stamped on a movement o Precision. The cased-up watch must gain or lose no more than one minute after seven days (or ±8.6 seconds per day). This standard is slightly less stringent than that used by COSC to certify chronometers; the difference is due to the fact that COSC tests uncased movements, whose precision is easier to control than cased ones. For the Geneva Seal the watches are tested on a machine that duplicates the type and amount of motion a watch experiences in normal wear: the watches revolve once per minute for 14 hours and are then stopped for 10 hours in any position. The cycle is repeated for all seven days. If the watch has a chronograph, the chronograph must run for the first 24 hours of the test. o Power reserve. The watch is checked with the dial up. It must run at least as long as the power reserve claimed for it. o Water-resistance. Watches claimed to be water-resistant must endure water pressure of 30 meters. The additional components that must now meet finishing standards are those used in the casing-up of the watch. They include, among others, clamps and braces, casing-up rings, pivoting levers and push-piece extensions. In general, these parts must all be finely turned, have no burrs, and have trimmed chamfers. Timelab has also tightened requirements for where the watches are made. It used to be that movements had only to be assembled and regulated in the Canton of Geneva. When the new rules go into effect, they will need to be cased there as well. Companies currently using the Geneva Seal include Vacheron Constantin, Roger Dubuis, Cartier, and Chopard. WatchTime February 2012


WATCHtalk Patek Philippe stopped using the Geneva Seal in favor of its own quality seal in 2009. To obtain the Seal, the applicant, i.e., the watch manufacturer, must submit to Timelab a reference set of components and an assembled movement, which, if approved by Timelab, will be used as a standard for assessing the company's production. Timelab, however, does not conduct the tests on each watch. As in the past, the manufacturer itself is responsible for seeing that each watch meets the standards established by the reference kit and must keep detailed records of its own inspections. Timelab personnel monitor compliance by performing scheduled inspections. As before, the hallmark will be applied to the movement only, either on the mainplate or one of the bridges. The marking itself is done by the manufacturer at Timelab's Poinçon de Genève department (that's "Geneva Seal" in French). Each watch bearing the Seal must be sold with a certificate giving the serial numbers of the movement and the watch case. For more information, go to www.poincondegeneve.ch. Timelab is a watchmaking and microtechnology laboratory created in 2008 on the premises of the Geneva Watchmaking School. In addition to managing the Geneva Seal, Timelab serves as the official COSC-certification agency in the Geneva area. Tribute to USS Kittiwake On January 5, 2011, the USS Kittiwake, a submarine rescue ship, was laid to rest at the bottom of the ocean just off Grand Cayman Island. For 54 years, sailing mostly in the Caribbean, the ship's primary mission was to rescue sailors from downed submarines. Her most famous mission was the salvage operation that recovered the black box of the Space Shuttle Challenger after its disastrous explosion in 1986. Now the Kittiwake rests on the flat and sandy ocean floor, creating an artificial reef in a protected marine park for divers and snorkelers. After the ship was decommissioned in 1994, the U.S. Maritime Administration offered it to a foreign government willing to use it as an artificial reef. The government of the Cayman Islands requested the ship, was awarded it, and oversaw the deliberate sinking. As a tribute to the 252-foot, 1,800-ton steel ship and its new role helping the environment, Switzerland's Oris has created the Kittiwake Limited Edition dive watch. A plaque in the mechanical room of the sunken ship is dedicated to Oris's partnership in the Kittiwake reef project. For each watch sold (Oris will produce 500), the company will make a donation to the project. The watch has a large (49 mm) titanium case that is water-resistant to 1,000 meters. Oris's rubber-coated bezel, part of its patented Rotation Safety System, measures the dive time. It The caseback bears the logo of the Kittiwake artificial reef project . features a tungsten inlay engraved with a 60-minutes scale. An automatic helium valve is located at 9 o'clock. The black dial has a wave pattern and is adorned with a flag with the "diver down" indication. The titanium bracelet has double pushers and an extension. On the back of the case is the logo of the Kittiwake artificial reef project bearing an image of the ship. The production number is also on the caseback. The watch is powered by the SW220 automatic movement from Sellita. The suggested retail price of the watch is $3,500. It comes in a water-resistant divers' box containing a rubber strap with a titanium buckle. There are tools to change the bracelet as well as spare pins and screws. The sunken USS Kittiwake CORRECTION On page 84 of the NovemberDecember issue, we gave the wrong price for the Anonimo Carbon Diver watch. The correct price is $2,850, not $2,580. Oris's Kittiwake Limited Edition watch WatchTime February 2012

A MAN BET ON HORSES AND CHANGED WATCHMAKING FOREVER . 190 YEARS AGO In 1821, at a horse race in Paris, Nicolas Rieussec successfully tested his revolutionary invention that allowed time to be recorded to an accuracy of a fifth of a second. The chronograph was born. A tribute to a visionary man, the Montblanc Nicolas Rieussec Chronograph Anniversary Edition is centred on the essence of his invention, the rotating disc technique. Monopusher chronograph, manual-winding manufacture movement. 18K white-gold case. 30 min. and 60 sec. rotating disc counters. Limited edition of 90 pieces. Crafted in the Montblanc Manufacture in Le Locle, Switzerland. VISIT AND SHOP MONTBLANC . COM

WATCHtalk Second Time's The Charm When former Swatch Group bigwig JeanClaude Biver made his surprising move to become CEO of Hublot in 2005, one of the first things he did was submit a bid to Ferrari for the license to produce Ferrari watches. Ferrari's long-term watch licensing deal with Girard-Perregaux had expired and the automaker was looking for a new partner to produce its watches. Biver's bid was a long shot. He had barely begun to transform the quartz-watchdominated Hublot into the luxury mechanical-watch powerhouse it is today. It wasn't a fair fight; Biver lost the bid to Italy's Panerai. The Panerai-Ferrari marriage turned out to be rocky and the two split when the five-year deal was up. Now comes word that, for Biver, the second time was a charm. In November, at a racetrack near Florence, Ferrari president Luca Cordera di Montezemolo and Biver announced that their firms had entered an agreement that makes Hublot "the exclusive watchmaking partner in the full range of Ferrari's activities." Under the deal (terms not announced), Hublot will produce Ferrari-branded watches, be the official watch and official timekeeper of Ferrari and Scuderia Ferrari, and be a partner in Ferrari special events. Said Biver, "This collaboration, rich in a host of synergies, gives Hublot a massive boost along the road." Hublot said that it intends to launch Hublot-made Ferrari watches at the Baselworld show in March 2012. Hublot's Biver (left) and Ferrari's Cordera di Montezemolo at the announcement of their collaboration Major renovations of the Baselworld complex are already underway. A Winter Baselworld For watch lovers, Baselworld, the annual watch show held in Basel, Switzerland, is what spring training is to baseball lovers: the unofficial start of spring. For the watch crowd, spring will come early this year -- in winter. The show runs from March 8 to 15, the earliest opening in memory. The early opening is the result of a major construction on the Baselworld complex that will take place over the next two years. It involves extending one exhibition hall, rebuilding another and connecting the two via a two-story structure extending over a pedestrian plaza called Exhibition Square. The construction schedule required show management to move the 2012 show forward and the 2013 show back (April 25 to May 2). The first phase of the construction project has already begun. However, it will not affect the 2012 show. "The 24 WatchTime February 2012 customary halls at Baselworld will be retained for 2012," says Bernard Keller, Baselworld communications director. "All the halls and hall entrances will be available in the same way as in previous years." The second and major phase of construction will occur between April 2012 and February 2013. Hall 3, across from the main watch hall (Hall 1), will be demolished and replaced by a new building. The project, an investment of 430 million Swiss francs (around $500 million), will be completed in time for the 2013 show. The expansion will raise the show's total exhibition area to 141,000 square meters. The 2012 show will be open daily from 9 a.m. to 6 p.m.. A one-day admission ticket costs SF60 (around $70); an eight-day pass costs SF150 (around $175). For more information, go to www.baselworld.com.

You know your destination - your watch knows the time: Patravi TravelGraph. Carl F. Bucherer developed the CFB 1901 caliber specifically with frequent travelers in mind. In the Patravi TravelGraph, the movement combines the chronograph functions of a stopwatch with an additional display for a second time zone. Designed to be an eye-catcher, the rotating bezel made of hard-wearing rubber and stainless steel has a 24-hour scale that enables it to be used as temporary third time zone. State-of-the technology for globetrotters. www.carl-f-bucherer.com

WATCHtalk Chromatic Chronograph We all know anti-reflective, or AR, coatings are applied to watch crystals to reduce reflections. How they work is actually rather complicated. An indepth article on the topic would contain several mathematical formulas and make an excellent sleep aid. The basic concept involves controlling the wavelengths of reflected light so they cancel each other out through destructive interference. At the opposite end of the spectrum from AR technology is the coating applied to the case of Graham's Booster Iris. It's designed to maximize reflected light in a way that generates an everchanging kaleidoscope of colors. This coating, too, is scientifically complex. It's a specially developed, multi-layer black PVD. The layers are nanometerscale thin. Graham calls it black PVD with "interferential substrate." The effect, known as "thin film interference," is the same one seen in soap bubbles and oil spots on wet pavement. Without getting too deeply into the physics, it occurs when incident light waves reflected by the upper and lower boundaries of a thin film interfere with one another to form a new wave (or color). Because the coating's complex layers vary from watch to watch, no two reflect light exactly the same way, making each example unique. The Booster Iris is not for shrinking violets. The colorful case measures a substantial 48 mm. A black mother-ofpearl dial sits below the trademark Swordfish twin oversize lenses, each of which magnifies the chronograph counter beneath by 15 percent. A green crocodile strap is the finishing touch. Inside the light-show case lies a bi-compax chronograph movement with 30minute and 12-hour totalizers. The movement, Caliber G1710, runs in 34 jewels at 28,800 vph (four Hz) with a 48-hour power reserve. Water-resistance is 100 meters. The Booster Iris is a limited production piece -- only 10 will be produced per year worldwide. If all this color captures your eye, the suggested retail price is $17,495. -- MIKE DISHER The Graham Booster Iris watch Hautlence's HLQ Classic watch Q is for Quantième Founded in 2004, Hautlence is located in (and the name is an anagram of) Neuchâtel, Switzerland. The company designs and develops its own movements, making some components in-house while outsourcing others to specialist manufacturers. With the exception of the straps, all the components are developed, produced and assembled in Switzerland, 90 percent of them in the Canton of Neuchâtel. Hautlence may make more than one of each model, but they are nonetheless unique pieces. 26 WatchTime February 2012 Hautlence introduced its second inhouse caliber in 2009. Like the first, it was a manual-wind and it carried over the original's jumping hours and retrograde minutes displays. The round shape and quick-change date were new. The new movement powered the original models in the HLQ line (the Q stands for quantième, French for "date"), which featured bold styling cues such as skeletonized movements and metal mesh dials. Now comes the Hautlence HLQ Classic, which, as the name implies, presents a more conservative visage. The most noticeable differences are more traditional dials and the relocation of the date display from 7 o'clock to 6 o'clock. The HLQ Classic movement consists of 220 parts, including 32 jewels. The escapement oscillates at 21,600 vph and the power reserve is 40 hours. The finishing is traditional côtes de Genève with hand angled bridges. The HLQ Classic line is available in white gold (HLQ 01 Classic), rose gold and titanium (HLQ 05 Classic), rose gold (HLQ 06 Classic) and titanium (HLQ 07 Classic and HLQ 08 Classic). As with the HL, HLS and HLC lines, the HLQ Classic has been produced in numbered editions of 88 pieces for each reference. Prices with the ardillon buckle range from $40,600 to $63,800, depending on the case material. -- MD

Embrace an incredible world Counting time has forever changed. Roger Dubuis elevates creativity to the truly exceptional. La Monégasque reflects the precise sophistication of those who demand elegance in all things.It combines the highest standards in watchmaking with exceptional inventiveness. Only Roger Dubuis movements all bear the Poinçon de Genève mark of excellence that celebrates its 125th anniversary this year. 1-888-RDUBUIS / www.rogerdubuis.com Creative Center: In-House

WATCHtalk ON WATCHTIME.COM AN EVENING AT THE HOUR LOUNGE Vacheron Constantin recently hosted the first West Coast Hour Lounge collector event at the historic penthouse at San Francisco's Fairmont Hotel. Share the experience as we tell the story with images from the evening. JETMAN FLIES WITH BREITLING WatchTime's website is loaded with information about watches. For the stories shown here, go to watchtime.com/on-watchtime. BLANCPAIN'S NEW X FATHOMS Blancpain calls it the most high-performance mechanical diving watch ever made, incorporating multiple world-firsts. It certainly looks the part. Our story includes wallpaper images. After flying across the English Channel, soaring alongside Boeing Stearman biplanes, looping the loop around a hot-air balloon and crossing the Grand Canyon, Yves "Jetman" Rossy flies with the Breitling Jet Team. Our story includes a video link. GREUBEL FORSEY WINS CHRONOMETRY COMPETITION Greubel Forsey's Double Tourbillon 30° Technique won the 2011 International Chronometry Competition at the Museum of Horology in Le Locle, Switzerland, scoring 915 points out of a possible 1,000 to capture the title. INSIDE BASEL/GENEVA 2011 WatchTime's "Inside Basel/Geneva" event series was bigger and better than ever this past year, with new attendance records and twice as many participating brands as the year before. Our report includes more than 30 images from the New York City and San Francisco events. DIGITAL IQ SURVEY FINDS LUXURY WATCH BRANDS LAGGING L2 released its 2011 Digital IQ Index, ranking the "digital competence" of 35 leading luxury watch and jewelry brands. To the surprise of few, watch brands did not fare well. Our story tells you who is gifted and who is feeble. WATCHSPOTTING They say the devil is in the details. In this quiz, the details may bedevil you. We show you cropped images of 12 watch dials, focusing on design details. Can you identify these timepieces? WatchTime February 2012

FOLLOW YOUR CONVICTIONS "MY DECISION TO GO PRO AT 17 WAS CONTROVERSIAL. THAT IS, UNTIL I BECAME EUROPEAN NO.1" Justin Rose, Professional Golfer In 1998, Justin Rose stayed true to his beliefs, joining the European Tour against all the odds at just 17 years old. At Maurice Lacroix, we create our unique movements and award-winning designs by hand - because, like Justin, we too follow our convictions. For more information visit www.MauriceLacroix.com Les Classiques Chronographe Phases de Lune

WATCHquiz quizs The Year That Was Test your knowledge of the watch-related headlines of 2011. 1. Which watch-brand owner died in April? A. Rolf Schnyder of Ulysse Nardin B. Theodore Schneider of Breitling C. Philippe Stern of Patek Philippe D. Richard Mille of Richard Mille 2. Rolex signed what celebrity to appear in its advertisements? A. Leonardo DiCaprio B. Martin Scorsese C. Tiger Woods D. Richard Branson 3. In September, the Swatch Group announced that, due to alleged breach of contract, it would no longer make watches for: A. Disney B. Tiffany & Co. C. Abercrombie & Fitch D. Ermenegildo Zegna 4. What company bought a majority stake in Sowind, parent of GirardPerregaux? A. The Richemont Group B. LVMH C. PPR D. Swatch Group 5. Whom did Rolex name as its new CEO in May? A. Bruno Meier B. Patrick Heiniger C. Georges Kern D. Gian Riccardo Marini 6. Which company introduced a mechanical chronograph that can measure time to the 1/1,000-second? A. TAG Heuer B. Breitling C. Omega D. Urwerk 7. What watch and jewelry company did LVMH buy? A. Bulgari B. Tiffany & Co. C. Boucheron D. Van Cleef & Arpels 8. What watch-quality hallmark celebrated its 125th anniversary? A. The Patek Philippe Seal B. The Geneva Seal C. The Qualité Fleurier Seal D. The Glashütte Feinmechanik Seal 9. What company introduced a watch that picks up time signals from orbiting satellites? A. Seiko B. Citizen C. Casio D. Timex 10. What noted watchmaker died in October? A. Philippe Dufour B. François-Paul Journe C. George Daniels D. Svend Andersen What was the price fetched in May by the most expensive Rolex ever sold at auction? of Sowind, parent company of GirardPerregaux? A. Michele Sofisti B. Stefano Macaluso C. Pierre-Alain Blum D. Ernst Thomke 12. Which brand opened its first U.S. boutique in September? A. Vacheron Constantin B. Piaget C. Omega D. A. Lange & Söhne 13. What two companies announced they had signed an agreement to market a collection of watches? A. Audemars Piguet and Porsche B. Hublot and Ferrari C. Jaeger-LeCoultre and Bentley D. Breitling and Aston Martin 14. What company won the 2011 International Chronometry Competition in Le Locle? A. Jaeger-LeCoultre B. Patek Philippe C. A. Lange & Söhne D. Greubel Forsey 15. In May, a split-seconds chronograph from 1942 became the most expensive Rolex watch ever sold at auction. What was its price? A. About $400,000 B. About $600,000 C. About $1.2 million D. About $2.1 million 11. Who was appointed to be the CEO WatchTime February 2012 Answers: 1A; 2C; 3B; 4C; 5D; 6A; 7A; 8B; 9B; 10C; 11A; 12A; 13B; 14D; 15C


FINEcars The Return of Motown Mojo American-style automotive audacity makes a comeback in the 2012 Chrysler 300 sedan. sedan with a European-style grille. It became a hit. But the old Chrysler's uneven quality eventually set in and sales for the 300 dropped precipitously. The best of times had become the worst of times. But that is now history, and this is resurgence time. The new, Fiat-owned Chrysler has introduced six all-new, smart-looking, sophisticated Chrysler 300 sedan models for 2012. All have contemporary driving attributes, excellent handling characteristics, great engines, smooth automatic transmissions, reasonable MPGs and technologically laden infotainment systems -- in short, every essential feature in a large four-door sedan for adults who crave luxury at a fair price. This is a car with real personality, not a wannabe that strives to look like another vehicle. The 300S model I drove makes a strong statement of quality and refinement. It's subtle, not ostentatious; stylish without being faddish. This strong, assertive aesthetic starts from the grille and moves down the sides to the rear in crisp, clean lines. It sits on big wheels. Obvious care, attention to detail and craftsmanship went into the 300's exterior design and, not surprisingly, continue inside the car. My first thought when I looked inside was that Chrysler got it right. The interior has a relaxing look and feel -- ambiance and amenities combined with a bit of attitude. While you're driving, it feels spacious, sophisticated, comfortable and very quiet. Chrysler's interior specialists have replaced the bland and boring, such as Corinthian leather seats, with softtouch tactile surfaces, quality materials MARTY BERNSTEIN The 2012 Chrysler 300S mported from Detroit" was the tagline of a popular Chrysler commercial that first aired during the 2011 Super Bowl. Shot in the Motor City, the commercial was an audacious, aggressive, in-your-face advertisement for -- of all things -- a sedan, and not just any sedan, but a big one: the new Chrysler 300. Chrysler, recently acquired by Italy's Fiat, was about to emerge from bankruptcy and pay back its U.S. government-backed loans, and had thrown down the gauntlet to all its competitors by placing its bets on the type of vehicle that Americans have traditionally liked. You remember traditional American sedans, don't you? Ideally, they were big, four-door, bench-seat vehicles that could comfortably hold five or even six fullsized adults and were powerful yet comfortable and easy to drive. All too often, however, they were stately, sedate, ponderous and pompous. Then, a few years ago, Chrysler introduced the 300, an updated, good-looking and the use of interesting piano black and carbon-fiber surfaces and trims. The nighttime lighting, for headlamps and essential info-gauges, is outstanding. The type on the gauges is clear (you won't need bifocals), and the knobs and buttons are easy to reach and ergonomically designed. The 8.4-inch infotainment touchscreen interface aids in navigation. The Beats by Dr. Dre audio system is super cool and part of the high-tech systems package. Under the hood of my test car was a 5.7-liter aluminum V-8 powerhouse of an engine that generates 363 horsepower and 394 lbs. of torque. This engine has been paired with a five-speed automatic transmission with paddle shifters. There's also a new eight-speed, optional automatic transmission that has thus far only been available on more expensive Euro sedans. It's paired with a new, 3.6-liter V6 engine. I drove the 300S in real-world driving conditions. Handling is crisp and effortless, not mushy and turgid as one might expect from a big, solid vehicle. There was power and torque to spare. Speeding up to merge or pass quickly was crisp, with over-the-limit speeds easily attained. There was minimal body sway on twisty roads and the bumpy roads were smoothed. The 300S has the excellent road manners a quality sedan should have. The six different models and trim packages offered means there's probably a 300 that's right for your needs and budget, eliminating the need to check a bunch of option boxes that add to the price. The price of the entry-level 2012 Chrysler 300 is $27,995. My test car was fully loaded -- there was nothing I could think of to add -- at $43,210. It's made in Canada, but imported by the resurgent Chrysler in Detroit. ? WatchTime February 2012

www.edifice.casio.com Excellence Driven by Speed & Intelligence EQWM1100DC-1A2 SOLAR / ATOMIC EFX530P-1AV EQS500C-1A1 SOLAR EF550PB-1AV 3D MULTI-LAYER FACE A dual-layered face comprised of upper and lower dial plates provides unprecedented functionality and visual appeal. SOLAR POWERED A solar panel combined with a large-capacity rechargeable battery enables these impressive solar timepieces to run smoothly under any light with no battery replacement. AT O M I C T I M E K E E P I N G Multi-Band Technology receives time calibration signals automatically from up to six transmitters around the world (US, UK, Germany, Japan x 2 and China). This technology also adjusts for Leap Year and Daylight Saving Time. North America Japan United Kingdom Japan China Germany ©2011 CASIO AMERICA, INC.

FINEpens JAN DIVINCENZO Customized for Quality Edison is a small company that is growing for good reason. fter the first commercially available ballpoints in the mid-1940s, the pen market stratified, with cheap, disposable pens at one end and precious pens at the other. If, however, the high-end market took fine pens out of the hands of the masses, it also put them back into the hands of craftsmen. The Internet facilitated access to tools, materials, information and retailing opportunities that enabled individuals to produce and sell pens as finely crafted as those of the big luxury brands. A few of these individuals discovered a niche market for custom pens, crafted according to customer specs from a range of options. This is the market that Brian Gray, founder of the Edison Pen Company of Milan, Ohio, has successfully pioneered. Edison pens have an affinity with classic American designs of the early and middle 20th century yet eschew unnecessary ornamentation to focus on primary material and finish. Though Edison just this year issued its first "production" models, it originated as a one-man operation that offered what the big companies could not without enormous cost and in- The Edison Pearl with the Tsugaru-nuri technique by Hakumin Urushi Kobo convenience. "Those companies have economies of scale," Gray explains. "Montblanc could make a custom pen, but it would cost $15,000. Whereas I can make one for $200 to $500." Making custom pens, his Signature Line models, is how he started and what he still finds most engaging. Gray has created a unique ordering infrastructure for his Signature Line pens on his website, www.edisonpen.com. The pens are available in seven basic models: the Pearl, Morgan, Mina, Huron, Herald, #76 and Glenmont, with the Huron and Herald available in a "grande" size. Next, he offers a choice of beautifully colored resins, which include acrylic, ebonite, celluloid, celluloid acetate and Lucite. He'll equip the pen with one of a variety of filler mechanisms: Schmidt K5 converter, eyedropper, piston (in production) or bulb filler. The bulb filler, which hasn't been around since the 1925 Postal Reservoir Pen, is basically a sac affixed to the barrel that, when squeezed, pushes air out of a breather tube and, when released, sucks ink back through the tube into the reservoir. "It's a really good filler," says Gray. "That's why I rummage through those boxes of old, broken pens at shows. I'll find something interesting and think, 'Could I make this?'" Additional custom options include ink windows and end caps. As for nibs, Edison offers an excellent steel nib and an 18kgold nib of the best German manufacture, which Gray tunes and tests before shipping the pen out. Gray arrived at pen making through his onetime hobby in marquetry furni- ture and woodturning. Disappointed with the limitations of kit pens, he set about machining his own parts. In 2006, after more than a decade in pharmaceutical sales and a quick succession of layoffs, he started the Edison Pen Company and, working with his wife, managed to turn full-time pen making into a successful business. He's expanded into a new shop, acquired his Production Line tools and taken on an employee. In 2011 the Edison Huron model, designed after the early-century oversize flat-tops, was nominated for Pen World magazine's Reader's Choice Award. The Collier, a Production Line model that takes its cues from cigar-shaped pens popular in the mid-century, was voted the Goldspot Luxury Gifts 2011 Pen of the Year by a 62 percent margin. Another aspect of Gray's work involves his collaboration with urushi lacquer artist Ernest Shin, owner of Hakumin Urushi Kobo. "I met Ernest a couple of years ago at a show," says Gray. "He needed a pen maker and I needed someone who could dress the pens up." So far, on the Pearl, Morgan and Herald models, Shin has applied traditional urushi lacquer techniques to striking effect, with an aesthetic rooted not in pictorial representation but in organic patterns and textures. Now in production is a beautifully designed urushi version of the Mina model, which, with its flared ends, recalls the reed pen. Though still a small company, Edison provides a level of quality not found among the giants, most of which, it's useful to recollect, also started as oneman operations. ?


FINEspirits Steppin' Back with Sazerac azerac. The name trips and tumbles off the tongue, a libation born during the 19th century, popularized, localized, nationalized, then forgotten until resurrected in this New Age of retrococktails. Even so, you may have to search for a bartender who knows how to make one. In the cocktail lounge of a luxurious Southern California resort, the mixologist laughs when asked if the drink is popular with guests. "A Sazerac?" he quips. "Some of our customers think it's a city in Morocco." And yet, one can step into practically any bar in New Orleans, order a Sazerac, and be greeted with a nod of recognition. But then, that is to be expected from a city that, on June 23, 2008, proclaimed the Sazerac as its official cocktail, thanks to a combined vote of the Louisiana House of Representatives and the State Senate. However, even in The Big Easy, chances are few bartenders will make a Sazerac the same way, in spite of the fact that one of its primary ingredients is Peychaud's Aromatic Cocktail Bitters, a floral "liquid tonic" born in the Sazerac's birthplace. Although other bitters are often used, aficionados hold a true Sazerac must use Peychaud's. Indeed, were it not for Peychaud's there would be no Sazerac, even though it is no longer the original cocktail. In 1830, Antoine Amédée Peychaud, Jr., a Creole whose father came from the island colony of Saint-Domingue (now Haiti) and settled in New Orleans in 1795, set up an apothecary shop in the French Quarter and devised a recipe of At BOA Steakhouse in Santa Monica, general manager Justin Leyvas conjures up the restaurant's version of a Sazerac, while cocktail server Skyler Collins looks on. (Photo: Richard Carleton Hacker) RICHARD CARLETON HACKER How did this classic cocktail become synonymous with the Big Easy? Peychaud's Bitters and Handy's marketing expertise, the Sazerac cocktail became an immense success, especially when another ingredient, high-proof absinthe, was added. However, in 1873 the phylloxera epidemic demolished the French vineyards, and consequently, cognac production as well. As a result, Handy made history by substituting American rye whiskey for cognac in his Sazerac cocktails. In 1908 his recipe was printed for the first time in The World's Drinks and How to Mix Them by William T. "Cocktail Bill" Boothby, who inexplicably substituted Selner Bitters for Peychaud's. Nonetheless, today, with the reintroduction of absinthe, the most authentic Sazeracs -- in my opinion -- are made with Peychaud's Bitters and 18 Year Old Sazerac Rye. One of the best renditions is at BOA Steakhouse in Santa Monica, California. Here is the restaurant's recipe, from general manager Justin Leyvas: "First, pour about a quarter ounce of Lucid absinthe (no other brand works as well) into a chilled Old Fashioned glass. Swirl it around so the sides are completely coated. Pour out the excess. Next, in a second Old Fashioned glass, muddle a sugar cube (I prefer Sugar In The Raw) with a few strong dashes of Peychaud's bitters. Add 2 oz. of rye whiskey and fill with ice cubes. Stir with a bar spoon; do not shake or you will bruise the liquor and dilute the taste. Strain this liquid into the second Old Fashioned glass that is coated with absinthe. Twist a fresh lemon peel over the drink to spray it with a mist. Then garnish the glass with the peel." And thus ends the tale of America's oldest (and, up until now, perhaps most secretive) cocktail. ? herbs, spices, alcohol and "secret" family ingredients. This became Peychaud's Bitters. In time Peychaud began mixing his bitters with brandy as an "after hours" toddy for friends. In 1850, a local businessman, Sewell T. Taylor, sold one of his saloons, The Merchants Exchange Coffee House, located just down Royal Street from Peychaud's apothecary, and went into the liquor importing business, featuring Sazerac-de-Forge et Fils cognac. An entrepreneur named Aaron Bird bought the "coffee house" from Taylor and renamed it the Sazerac Coffee House, specializing in a mixed drink made with Sazerac-deForge et Fils cognac and bitters from his neighbor Peychaud (do you see a thread forming here?). By 1857 Bird was advertising "Sazerac Cocktails," the first branded mixed drink in America. Two years later another businessman named John B. Schiller joined Bird and eventually bought him out. When Schiller died in 1869, one of his clerks, Thomas H. Handy, purchased the Sazerac Coffee House and hired Peychaud, who subsequently closed his apothecary shop. With WatchTime February 2012

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FINEcigars MARK BERNARDO Pirates' Treasure hen we think of the Bahamas, it's usually sun, sand and surf that come to mind rather than cigar factories. However, many might be surprised that one of the most expensive and exclusive brands made outside of Cuba actually originates there. The story of Graycliff -- the cigar and the historic hotel for which it is named -- starts with a pirate named John Howard Graysmith, captain of the schooner Graywolf, who in 1740 built a mansion in Nassau using riches plundered from treasure ships in the Caribbean. Buccaneering was big business in the Bahamas in the 18th century; during the era when the house, called Graycliff, was built, the country flew the skull-and-crossbones as its national flag. However, the era of freebooting eventually came to an end, and the mansion went through a series of owners and served a number of purposes in the following years. In 1776, it became the headquarters of United States naval forces, which briefly occupied Nassau during the American Revolution. It became an inn catering to well-heeled travelers in 1884 but shortly thereafter was commandeered as an officers' mess for How a historic hotel in the Bahamas became the home of one of today's most prestigious cigar brands Britain's West India Regiment and closed once again to the public. It reopened during the Roaring '20s, owned by a friend of Al Capone, and became a party spot for wealthy sophisticates. Eventually, a succession of other owners, including a pair of British nobles, took possession of the house and used it as a private residence until 1972, when Italian entrepreneur Enrico Garzaroli purchased it. Garzaroli, a big, boisterous man of epicurean tastes, including fine wines and cigars, reopened Graycliff to the public as a destination hotel and world-class restaurant, running it with his wife Anna Maria and his children, Paolo and Roberta. Over the years it has drawn a starstudded roster of guests that includes Julia Roberts, Jack Nicholson, Jay-Z and Beyoncé Knowles, among many other athletes, actors and politicians. In addition to the food, award-winning wine list (the wine cellar, which holds one of the world's largest private collections, was once a pirates' jail cell) and the historic furnishings, many of Graycliff's guests also enjoy a good cigar. During the cigarboom 1990s, Garzaroli decided he wanted his hotel to provide guests with its own hand-rolled cigars. Enter Avelino Lara, a storied Cuban cigar master who developed the original Cohiba blend and was once personal cigar roller to Fidel Castro. Lara moved to the Bahamas after leaving Cuba and befriended Garzaroli, who, in 1996, brought Lara onboard to roll cigars for Graycliff's patrons. In 1997, Lara and Garzaroli created the first Graycliff-branded cigar, today called the Original, a medium-bodied smoke with a blend of Nicaraguan, Honduran, Brazilian, and Ecuadorian tobacco and a Sumatra wrapper. Graycliff visitors spread the mystique of the exclusive cigars they smoked there, blended by Lara and rolled entirely by Cuban rollers in a small factory on the grounds of the Graycliff hotel property, and the brand expanded both its output and its distribution. Today, it includes eight lines, each distinguished by a different colored band. Among them are the Crystal, or white label, a full-bodied cigar that uses some of the factory's oldest tobacco in the blend; an Ecuador wrapper; and a cigar rarity, a binder leaf from Greece. The Espresso (black label) is as rich and bold as its name implies, with triple-fermented leaf cured for a full year. The Emerald (green label) has the same spicy blend as the Crystal but is softened by the sweet, green-tinted double claro wrapper. Graycliff's purple-banded Château Grand Cru and maroon-banded Heritage Royale are the most powerful and complex blends, mixing select, specially aged leaf from Costa Rica, Honduras, Nicaragua, and, in the Heritage Royale, Ecuador, for their robust, cocoaand-coffee flavor profile. Like the hotel, the cigars are priced as a luxury item, ranging from $5 to $40 apiece. Lara passed away in 2009, but his son Avelito still works in the Graycliff cigar factory, helping to develop new blends. If you have the chance to visit Graycliff, cigars, of course, are part of the experience. You can tour the factory, take a class to roll your own cigars, or sit back in the cigar lounge and simply enjoy the ones rolled by professionals; Garzaroli might even join you. ? A cigar roller at Graycliff


WHO WHAT OWNS Our latest handy, dandy guide to the watch groups BY JOE THOMPSON t's been three years since WatchTime has updated its list of brands owned by the world's major watch groups. Since then, a couple of bold-faced watch names have been added to the list. Bulgari is now in the LVMH fold and Girard-Perregaux is now part of the PPR Group. Here are the lineups as of December 2011. SWATCH GROUP (Switzerland) Breguet, Blancpain, Glashütte Original, Jaquet Droz, Omega, Tiffany & Co**, Léon Hatot, Longines, Rado, Union Glashütte, Tissot, ck/Calvin Klein, Balmain, Certina, Mido, Hamilton, Swatch, Flik Flak The Swatch Group, headquartered in Bienne, Switzerland, is the world's largest watch company. Publicly traded, it reported total sales in 2010 of 6.44 billion Swiss francs ($6.85 billion). The overwhelming majority of that revenue comes from watches and watch components. According to the company, 85 percent of total sales came from complete watches and jewelry. (The company does not break down the figures but jewelry accounts for a tiny fraction of the amount.) Another 12 percent comes from production of watch movements and components. The company's 18 watch brands span the price spectrum from Flik Flak and Swatch at the bottom to Breguet at the top. Its power 40 WatchTime February 2012 brand is Omega, the world's second or third largest watch brand after Rolex. It also makes watches for third parties through its private label company, Endura. In addition to its watch brands, the Swatch Group is a vertically integrated manufacturer with numerous subsidiary production companies manufacturing virtually every component required to produce a watch. The components are sold to brands inside and outside the group. The Swatch Group is by far the top supplier of watch movements and parts to the Swiss watch industry. Its giant movement production company, ETA, is the dominant supplier of mechanical movements. Its Nivarox-FAR subsidiary supplies more than 90 percent of hairsprings used in Swiss mechanical watches. The Swatch Group 2010 annual report lists a total of 160 subsidiary companies engaged in various watch industry activities (production, wholesale, retail, etc.). The group employed 24,240 people as of December 31, 2010. RICHEMONT GROUP (Switzerland) Vacheron Constantin, Piaget, A. Lange & Söhne, JaegerLeCoultre, Roger Dubuis, IWC Schaffhausen, Officine Panerai, Baume & Mercier, Ralph Lauren Watch & Jewelry**, Cartier, Van Cleef & Arpels, Montblanc, Dunhill Richemont is the world's second largest luxury products group, after LVMH, with total sales of 6.89 billion euros ($9.11 billion) for the fiscal year ended March 31, 2011. It owns 17 brands, 12 of which produce watches. (Those that don't are Chloé, Lancel, Shanghai Tang, Azzedine Alaïa and Purdey.) In addition, it has a 50 percent share in the Ralph Lauren Watches company. Publicly traded, it is headquartered in Geneva.

Richemont segments its business by brands. The first nine brands on the list comprise the Specialized Watchmakers division. Cartier and Van Cleef & Arpels comprise the Jewelry Maisons division. Montblanc is a division unto itself; formerly called the Writing Instruments Maison, the designation has been dropped in recognition of the brand's significant growth in the watch category. Menswear brand Dunhill is part of the Other Businesses division. Also included in the Other Businesses division are the group's watch-component manufacturing operations, including Manufacture Horlogère Valfleurier, a movement-manufacturing firm. Richemont is the world's second largest watch group, with total watch sales of EUR3.32 billion ($4.39 billion) in fiscal 2011, ended March 31. Richemont is overwhelmingly a luxury-watch group. Most of its brands are manufactures. Watches accounted for nearly half (48 percent) of Richemont's total sales. Slightly more than half (53 percent) of the group's watch sales came from the Specialist Watchmakers division, which has sales of EUR1.77 billion ($2.34 billion). The remaining EUR1.55 billion ($2.05 billion) in watch sales came from Cartier, Montblanc, Van Cleef & Arpels and Dunhill. Cartier accounted for the li- on's share of that amount. It is the group's power brand; it vies with Omega as the world's second best-selling luxury watch brand after Rolex. Across all categories, Cartier is Richemont's bestselling single brand by far. Richemont employed 21,387 people as of March 31, 2011. LVMH GROUP (France) TAG Heuer, Zenith, Hublot, Bulgari, Dior, Fred, Chaumet, Louis Vuitton LVMH is the world's largest luxury goods group. Paris-based and publicly held, it owns 60-something brands in various product categories, which generated sales of EUR20.3 billion ($26.84 billion) in 2010. Historically, however, LVMH has not been a watch-industry power player. In 1999, it acquired TAG Heuer and Zenith. Still, watches represented a tiny fraction of the group's total sales. Recently, though, LVMH has expanded its watch division. It took over Hublot in 2008. Earlier this year it purchased a controlling interest (50.4 percent) in Bulgari for $5.2 billion. LVMH has emerged as a solid #3 Swiss luxury watch group behind Swatch and Richemont. The addition of Bulgari, which had EUR215 million ($284.3 million) in watch sales in 2010, puts group sales in the vicinity of $1.5 billion, according to WatchTime estimates. (The group does not disclose sales by brand or by product category.) The group's leading watch brand by far is TAG Heuer, whose annual watch sales are between SF800 and SF900 million, according to Swiss estimates. TAG Heuer ranks among Switzerland's top five watch brands in sales. PPR GROUP (France) Girard-Perregaux, JeanRichard, Gucci, Boucheron, Yves Saint Laurent PPR, formerly called Pinault Printemps Redoute, is a Paris-based, publicly traded holding company specializing primarily in luxury fashion brands and retail shops. Total revenues for 2010 amounted to EUR14.6 billion ($19.3 billion). Its list of luxury brands includes Gucci, Bottega Veneta, Alexander McQueen, Balenciaga, Sergio Rossi, and Stella McCartney. Until this year, its only significant watch connection was through Gucci, whose watch sales amounted to EUR133.5 million ($176.5 million), five percent of the brand's total. (PPR sold the Bédat & Co. brand in 2009.) Earlier this year it raised its watch industry profile by acquiring a majority share (50.1 percent) of the Sowind Group from the family of the late Gino Macaluso. That added Girard-Perregaux and JeanRichard to the PPR lineup and gave the group a mechanical-movement-manufacturing base in Switzerland.

THE INDUSTRY Guide to the Groups SEIKO GROUP (Japan) Grand Seiko, Credor, Seiko, Pulsar, Lorus, Alba Japan's Seiko Group is a vertically integrated manufacturer of mechanical and quartz watches and movements, with products in virtually every price segment. Seiko produces nearly every component required for a watch, including hairsprings for mechanical watches. The Seiko Group, consisting of Seiko Epson and Seiko Holdings, is a giant manufacturing conglomerate, producing a variety of consumer and industrial products. Both companies are publicly held. It employed 92,319 people as of March 31, 2011. Total group revenues amounted to $15.5 billion for the fiscal year ended March 2011 (Epson revenues: ¥973.7 billion, or $11.7 billion; Seiko Holdings revenues: ¥313.8 billion, or $3.77 billion). Total group timepiece revenues amounted to about $2 billion, slightly more than 10 percent of the group's total sales. The group's hero brand, Seiko, accounts for the vast majority of its watch revenue. FOSSIL, INC. (USA) Fossil, Relic, Michele, MW, Zodiac, Abacus, Mobilewear, Adidas*, Burberry*, Diesel*, DKNY*, Michael Kors*, Marc Jacobs*, Emporio Armani* Fossil, Inc., based in Richardson, TX, is a longtime power player in the fashion-watch market. Publicly held, Fossil sales exceeded $2 billion ($2.03 billion) for the first time in 2010. Watches are the company's primary product: watch sales in 2010 amounted to $1.42 billion, 70 percent of the company's total sales. The company owns a half dozen of its own brands, including Switzerland-based Zodiac. It also has licensing agreements to produce and market watches for various fashion labels. CITIZEN GROUP (Japan) Campanola, Citizen, Q&Q, Accutron, Wittnauer, Bulova, Caravelle, Frank Lloyd Wright*, Harley-Davidson* MOVADO GROUP (USA) Ebel,Concord, Movado, ESQ by Movado*, Coach*, Hugo Boss*, Juicy Couture*, Tommy Hilfiger*, Lacoste* Japan's Citizen is a vertically integrated manufacturer of watches and watch movements. Its two top brands, Citizen and Bulova (Citizen acquired U.S.-based Bulova Corp. in 2008) are powers in the mid-priced segment of the global watch market. Watches and clocks account for nearly half (48 percent) of the total revenues of Citizen Holdings Co., Ltd., a public company headquartered in Tokyo. Group revenues for the fiscal year ended in March 2011 totaled ¥285 billion ($3.43 billion). Watch and clock revenue amounted to ¥137.4 billion ($1.65 billion). Citizen is also a major supplier of quartz watch movements to third parties through its Miyota division. Citizen had 19,484 employees as of March 31, 2011. 42 WatchTime February 2012 The Movado Group, based in Paramus, NJ, is a power in the middle and upper price segments of the watch market. It owns a trio of Swiss luxury brands -- Movado, Concord and Ebel. It also produces and markets a half dozen fashion brands under licensing agreements. A public company, the Movado Group reported sales of $382 million for the fiscal year ended January 31, 2011.

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THE INDUSTRY Guide to the Groups TIMEX GROUP (USA) Timex, Marc Ecko*, Nautica*, Opex*, GC*, Guess*, Salvatore Ferragamo*, Valentino*, Versace*, Versus* The Timex Group consists of the legendary king of the mass-market watch segment, Timex, as well as numerous fashion brands that Timex produces and markets under license agreements with the brand owners. Timex, headquartered in Middlebury, CT, is a private company and releases no sales or production data. The license deals give Timex a presence in market segments outside its traditional strength in the under-$150 category. A recent foray into the luxury mechanical watch market with Vincent Bérard, a brand it acquired in 2006, was unsuccessful. Timex folded that company in 2010. BINDA GROUP (Italy) Breil, Freestyle, Vetta, Hip Hop, D&G*, Moschino*, Ducati*, Freestyle, Kenneth Cole*, Tommy Bahama*, Ted Baker London*, Speedo*, Mexx* Milan-based Binda is a private watchand-jewelry company specializing in the distribution of fashion brands, many under licensing deals arranged through the Milan company or its U.S. subsidiary, Geneva Watch Co., which it acquired in 2008. The group's top brand is Breil, which it owns. Its Wyler Genève brand was a casualty of the recent recession. In 2008, the Binda Group claimed total sales of $585 million. FRANCK MULLER GROUP (Switzerland) Franck Muller, Pierre Kunz, European Company Watch, Rodolphe, Martin Braun, Barthelay, Backes & Strauss**, Pierre Michael Golay, Smalto Timepieces* FESTINA GROUP (Spain) Perrelet, L. Leroy, Candino, Festina, Lotus, Jaguar*, Calypso* The Festina Group is a private company owned by Miguel Rodriguez of Barcelona, Spain, with watch holdings in Spain and Switzerland. The group is a midrange watch powerhouse in Europe on the strength of the Festina brand. Jaguar, Candino, Lotus and Calypso are also mid-priced brands. The group also has a presence in the luxury Swiss mechanical market through the H5 Groupe, its Bienne, Switzerlandbased subsidiary, whose chief brand is Perrelet. The group also has a Swiss subsidiary, H1 Holding, with five Swiss companies engaged in watch movement and component production. 44 WatchTime February 2012 Franck Muller Watchland is a group of luxury Swiss watch brands headquartered in Genthod, outside Geneva. The hero brand is Franck Muller, founded in 1992. Over the years, the owners added additional brands, most (the bottom six on the list) since 2005. The Franck Muller brand is the group's biggest seller by far. Privately owned, the group releases no sales figures. Kepler Capital Markets estimated in 2009 that the Franck Muller brand had revenues of SF500 million ($467.3 million) in 2008. ? * Watches are produced under a license agreement with the brand owner ** The company is a joint venture between the group and the brand

210 Bellevue Avenue Newport, RI 02840 401.846.0598

Calendar King Kurt Klaus, the master w atchmaker and perpetual-calen dar expert whose work has de fined IWC's watches for decade s, remains a vital ambassad or for the brand. BY IRIS WIMMER-OLBORT

February 2012 WatchTime 47

IWC's Kurt Klaus 48 WatchTime February 2012 PROFILE has r watch da s's calen s mechanical Klau iou an ingen ion of all the t . chroniza syn dications in calendar ot every watchmaker can travel anywhere in the world to discuss watches and technology, levers and gears, escape wheels and balances, and have people in the audience hang on his every word. But not every watchmaker is Kurt Klaus, the man who has created designs for IWC Schaffhausen since the 1970s and who to this day instills a passion all over the globe for the art of fine watchmaking. In Asia, the 77-year-old watchmaker is treated like a celebrity: after a presentation in which he explains, step by step, the basic functions of a mechanical watch movement, initiates his listeners into the secrets of his Perpetual Calendar, and extolls his fascination with mechanics, audience members line up patiently for an autograph. It is a reminder that Klaus, who has spent so much of his career seated at a quiet workbench, has become an eloquent ambassador for IWC, the company with which his designs have become synonymous. Klaus had always enjoyed horology, and that interest led him to complete a four-year degree at the watchmaking school in Solothurn, Switzerland. He began working for IWC, based in Schaffhausen, two years later, in 1957, because he wanted to stay near his hometown of St. Gallen. He quickly became a specialist in the repair of older watches and became the "go-to" guy for difficult repair jobs. He often had timepieces on his workbench that were 100 years old or older. "This is how I came to know the philosophy of IWC from the bottom up, and experienced everything about the spirit of quality at IWC," Klaus recalls. Soon, Albert Pellaton -- technical director, head IWC countered the quartz crisis with complicated pocketwatches. Pictured here is Klaus's Ref. 5450, a Schaffhauser Savonnette with calendar and moon-phase, from 1979. The Da Vinci Perpetual Calendar, presented in 1985, is also equipped with a chronograph and moon-phase. of production and designer at IWC -- took the young Klaus under his wing, becoming his mentor. "He introduced me to design. It was difficult because he was so very demanding," says Klaus. But there was one thing Pellaton was not able to prepare his protégé for, and that was the quartz crisis in the 1970s. Pellaton, who died in 1976, never saw the full consequences that the rise of lower-priced, quartz-powered timepieces had on the Swiss watch industry, but Klaus remembers it well. At that time, the production of mechanical watches at IWC fell dramatically. Klaus remembers a point when there were no new orders at all, and how the company was forced to shorten work hours. Some watchmakers took other work making frames for model airplanes or tiny, silver automobile models just to get by. IWC eventually adapted to the changes, purchasing quartz movements and casing them. Klaus's job during this time involved selection of movements, quality control and assembly. The work was so simple compared to the technical challenges of mechanical watchmaking that he went looking for a more interest-

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PROFILE IWC's Kurt Klaus For ma ny year was a driving f s, Klaus as a m orce at IWC aster w maker, at designe r and d chper of eve watch moveme lonts. In 1998, Klaus abandoned his pencils and sketchbook and turned to CAD (computer-aided design) programs for his watch designs. ing occupation in his free time. On Fridays, when shortened work hours closed the company, Klaus would return to the empty workshop and tinker with mechanical pieces. When IWC management discovered Klaus's main project, a pocket watch with a complete calendar and moon-phase, it offered to put his creation into serial production. The company permitted Klaus to produce 100 pieces of what became the first truly complicated IWC watch. In 1977, this exceptional timepiece was presented at the Basel watch fair and was a complete success, according to Klaus, whose enthusiasm about it is evident even today. "All 100 pieces were sold by the second day," he says. KLAUS CONSIDERS that success to be a shot in the arm for the mechanical watch. He says, "We made sure we had given 50 WatchTime February 2012 that watch something that a quartz watch could not do. And we wanted to awaken a passion for mechanics." Klaus continued building other interesting mechanisms. About two years later, the IWC staff began returning to full-time work, even though their numbers had dwindled from 300 to 150 and quartz watches had become a part of the brand's portfolio. By the end of the 1970s, IWC was once again making watches, including chronographs, with mechanical movements. Klaus's most important project had its origin in the early 1980s, when the head of IWC, Günter Blümlein, asked him to design new wristwatches. Klaus set a high goal for himself -- a perpetual calendar that would be simple to operate and one in which the wearer would not have to be concerned with individual calendar settings. He wanted to design an autonomous mechanical system that would ensure that the advance of the 24-hour wheel at midnight was linked to all the other calendar indications so that they all advanced simultaneously and instantaneously. But how could the tiny motion of the date finger on the base movement be transferred to the day, date, month and year indicators? His solution was both simple and ingenious. The changing positions of the date indicators were transferred to a system consisting of cams, levers and wheels so that the calenIn 2007 the Da Vinci was given a new case (above, left) and Klaus was honored with a special edition, which bears his engraved likeness on its caseback (left).


PROFILE IWC's Kurt Klaus Klaus wears his most famous design, the Da Vinci Perpetual Calendar, as a lapel pin. dar function would always take into account the length of different months and even leap years. The system also included the so-called "century slide," which ensures that even for centuries to come, the first two digits of the year will be correct. The watch had another unique feature. If allowed to wind down, most perpetual calendars require a complex resetting process that involves the use of correction pins and pushers. Klaus's watch could be adjusted simply by turning the crown to advance the days because all the indications were synchronized. FOR SEVERAL YEARS, Klaus worked on the new mechanism and made calculations based on logarithms, drew designs on his drafting table and implemented those designs on the workbench where he made his own wheels and cut the gear teeth. Klaus worked through the entire night before the watch's presentation at the Basel Fair in April 1985. He finished in the early morning hours and drove to Basel, arriving at the IWC booth only 30 minutes before the start of the fair. The small suitcase he carried contained three prototypes of the first Da Vinci watch with a perpetual calendar, housed in elegant gold cases. The watch received a very warm reception, and visitors to the fair marveled at Klaus's technical achievement. Customers quickly placed their orders and in August 1985 the first of the watches was delivered. Five hundred pieces were completed by the end of that year. It was not only the design of the watch movement that was new; it was also Klaus's approach to developing it. He was concerned with more than simply creating a complication; even during the design stage he took into consideration the subsequent manufacturing process. "That was a completely new approach," says Klaus. "Earlier, designers worked completely separately from production. I am, however, first and foremost a watchmaker, and Albert Pellaton had taught me that a watch must be simple, sturdy, and of a high quality." Klaus has not only displayed a talent for developing complex mechanisms that are suitable for mass production. He is also extremely open-minded and enthusiastic about modern technological innovations. In the late 1980s, Klaus heard about CAD (computer-aided design programs) for the first time. "That interested me very much and I absolutely wanted to have something like that," he says. In 1988, Klaus got his first computer, which he describes as "a huge, bulky thing." After only one week of training, he began to use it for his design work. "From then on, I never picked up my drafting pencils again," Klaus says. At that point, computer-aided design was relatively simple and still only two-dimensional, but the technology improved over the years and Klaus evolved enthusiastically along with it. The conversion to computerized production opened more new opportunities for him. "I could draw parts any way I pleased," he says. "And a CNC wire EDM machine would produce those parts exactly as I wanted them to be. This period of development was an exciting adventure." THE ADVENTURE did not end for Klaus, even when he gave up many of his day-today responsibilities in 1999. He remained involved in IWC's design department and only gradually withdrew from development work. Only very recently has IWC launched new watches without his help. And in recent years, the charming man with the mischievous smile and back bent from so many years at the workbench has become a sought-after international ambassador for IWC. Georges Kern, CEO for the brand, recognizes Klaus's value. "He has garnered worldwide renown for IWC with his extraordinary initiative, great creative power and inventiveness," Kern says. "Kurt Klaus never promoted himself personally, but he has been an important representative of our company." In addition to his passion for watchmaking, Klaus remains true to other hobbies and pursuits. Every day he and his wife take long walks with their three greyhounds. Klaus believes outdoor exercise and fresh air are keys to staying healthy. "That is certainly another reason that I'm still completely fit and able," he says. One thing is clear: retirement is the last thing on Kurt Klaus's mind. ? An early sketch of Klaus's Da Vinci Perpetual Calendar module from 1983 The first Portofino, with complications designed by Klaus, debuted in 1981: the model was the basis for the current series. WatchTime February 2012


We take a detailed look at Glashütte Original's PanoMaticCounter XL, with its unconventional dial design and innovative counter function. PHOTOS BY ZUCKERFABRIK FOTODESIGN ike other watches in Glashütte Original's Pano-XL collection, the PanoMaticCounter XL has an unconventionally designed dial that might require the wearer to take a second glance to figure out exactly what its horological attributes are. The presence of a chronograph can be inferred by scrutinizing the upper portion of the dial, where a large ring occupies a plane above the level of the main dial. On its periphery it bears a wreath of numerals and strokes for the elapsed seconds, which are tallied not by pressing the button at 2 o'clock, as they would be on most standard chronographs, but by triggering the one at 4 o'clock. The subdial for the elapsed minutes also occupies an unusual position, toward the right of this raised ring, while the running seconds are recorded on another subdial at the left. Even the display for hours and minutes is in an odd location, below the dial's center on its lower portion. Glashütte Original's familiar big date display, with white digits on a black background, is at 3 o'clock, and at first glance, it appears that the watch has a second date window, with red digits, opposite the first, at 9 o'clock. However, a closer look reveals that the latter window shows not a redundant date function but a manually operated counter, independent of the watch's movement, which can tally from 54 WatchTime February 2012 COUNTER INTELLIGENCE BY MARTINA RICHTER


CLOSE-UP Glashütte Original PanoMaticCounter XL The right flank of the case (top) has the winding crown and the two buttons for the chronograph; the left side (bottom) has the three pushers used to operate the counter function. WatchTime February 2012

"00" to "99" units. It is, in fact, a very versatile complication: for example, the wearer can use it to keep track of the current month by simply advancing the counter before going to bed on the last day of each month. It is actually simpler to advance this counter from "02" to "03" than it is to adjust the date display from February 28 to March 1: manual adjustment of the large date requires the operation of an inset button in the case or the use of a corrector stylus or other auxiliary aid. You can also use the counter to keep track of the week ("00" to "52"). But the counter need not be used as a calendar function: it offers the ability to count many items unrelated to time measurement. This clever little mechanism, most of which is ensconced beneath the dial, combines 217 parts, including wheels, screws, levers, springs, disks, etc. Operating the counter, however, can be a bit confusing at first. Right-handed people, who would most likely wear the PanoMaticCounter XL on their left wrist, would instinctively follow the most ergonomically convenient route to attempt to start the counter, going for the lower button at 8 o'clock. That button instead moves the double-disk display backwards (from "00" to "99," for example). Pressing the upper button at 10 o'clock, the next logical option, will instantly return the counter from any two-digit number to "00." It is the middle button at 9 o'clock that advances the counter's display, i.e., from "00" to "01." For this reason, it is important to pay attention to the markings on the dial's flange, which are in the same red color as the digits, rather than going by intuition. Unfortunately, the "PLUS" indication at 9 o'clock is difficult to read and the "MINUS" at 8 o'clock is inexplicably inverted. The "ZERO" appears at 10 o'clock. The plus and minus buttons clearly differ from the zero-reset button in both their size and design: they're much larger, they protrude farther beyond the flank of the case, and the broad upper surface of each is fluted to prevent the user's thumb from slipping off. WHETHER YOU REGARD the PanoMaticCounter XL's counter function as toy or technological artistry, and even if you happen to press the wrong button now and then, it is always fun to operate. Its slight yet noticeable resistance to a thumb's pressure testifies to its top-notch construction; the switching of the numbered disks adds interest and excitement to the dial; and unlike the little red words on the dial's flange, the digits on the counter display's disks are very easy to read. The visual complement to the counter is the outsize date display (which Glashütte Original calls a "panoramic date"), a signature feature of this German brand. The element that makes it distinct from other large dates is that its rotating disks are coplanar. That means that a middle bar between digits in the date window, which other brands use to conceal the height difference between the two disks, is unnecessary here. When the watch is running, the date display automatically advances shortly before midnight -- about two minutes before, to be exact. To adjust the date manually, you can simply press the button above the crown on the right-hand side of the case. This means that the SPECS GLASHÜTTE ORIGINAL PANOMATICCOUNTER XL Manufacturer: Glashütter Uhrenbetrieb GmbH, Altenberger Strasse 1, D-01768, Glashütte, Germany Reference number: 96-01-02-02-04 Functions: Hours, minutes, small seconds, chronograph with stop-seconds function and stop-minutes function, flyback, panoramic date, counter Movement: Caliber 96-01, based on Caliber 95, automatic; 28,800 vph; 72 jewels; diameter = 32.2 mm; height = 8.9 mm; Glucydur screw balance; flat Nivarox hairspring; Incabloc shock absorption; swan's neck fine adjustment with finely threaded spindle; 42-hour power reserve; decorated with Glashütte waves, circular graining and satin finishing; beveled edges; skeletonized rotor; blued, polished screws; module for outsize date, module unconnected to movement for counter function Case: Stainless steel; nonreflective sapphire crystal in front and sapphire caseback with nonreflective inner surface; water-resistant to 50 meters Strap and clasp: Louisiana alligator skin, double-folding steel clasp with pressureoperated closure Dimensions: Diameter = 44 mm, height = 16 mm, weight = 145 grams Price: $25,100 Pros + Manufacture caliber/ complication + Good rate values, with or without chronograph on + Unconventional design + Superior quality of case and clasp + Good wearing comfort Cons - Legibility of some functions is limited - Operating the counter and chronograph requires practice - High price February 2012 WatchTime 57

CLOSE-UP Glashütte Original PanoMaticCounter XL The transparent caseback offers an excellent view of the chronograph mechanism. crown, which is fluted along its sides, is used only to manually wind the movement and, when it is pulled out, to set the hour and minute hands. The large crown makes both operations very user-friendly. The chronograph's buttons are positioned to the right and left of the crown. As with the counter buttons, there are words on the flange -- here, in white lettering -- to help the wearer figure out the unconventional placement of the stopwatch functions. "FLY BACK" is spelled out at 2 o'clock and "START/STOP" (like the "MINUS," oddly inverted) at 4 o'clock. The button at 2 o'clock, which most would instinctively reach for to start and stop the chronograph, is instead used to activate the watch's flyback function -- the quick return to zero of the chrono's elapsed-time hands and their instantaneous resumption of motion. Wearers will need to get used to starting and stopping the chronograph with the lower button, at 4 o'clock. After starting the chronograph, the eye-catching elapsed-seconds hand, with Glashütte Original's double-G logo serving as a counterweight on its short end, begins to sweep in the upper portion of the dial. Stopping and restarting this hand by pressing the button at 4 o'clock reveals that the chronograph mechanism doesn't use vertical friction coupling because the elapsedseconds hand first executes a noticeable backward motion, especially when it's restarted. This could also be the reason why the elapsed-seconds display isn't subdivided into smaller intervals, so at least we can't make any mistakes with its scale. Finer increments -- that is, fractions of elapsed seconds -- would require extremely slender and very closely spaced strokes, which would be more difficult to read. ONE LEVEL BELOW the elapsed-seconds ring and toward its right-hand side, a subdial tallies the chronograph's elapsed minutes. But instead of occupying its usual location at 12 o'clock, the zero position for counting the minutes has been shifted 60 degrees counterclockwise. This means that five minutes have already elapsed when this subdial's hand reaches the position where you'd expect to find a zero. Glashütte Original claims this unusual positioning improves the subdial's legibility. That's true, especially if you want to be certain that the hand is indeed pointing to zero or to make sure that the chronograph is switched off. But legibility in the areas of five and 20 elapsed minutes is difficult, if not impossible, because the elapsed-seconds ring overlaps the markings on the elapsed-minutes subdial in these two spots. A similar problem occurs at the other end of the imagined diameter, where the large ring crosses over the subdial for the running seconds. The calibrations on this subdial are shifted 60 degrees clockwise: this not only gives the dial symmetry, but it is also im58 WatchTime February 2012

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CLOSE-UP Glashütte Original PanoMaticCounter XL THE HOURSAND-MINUTES SUBDIAL FORMS A FIGURE EIGHT WITH THE CHRONOGRAPH SECONDS COUNTER. portant because it enables the user to set the watch with tothe-second accuracy. Unfortunately, the small-seconds scale is unreadable from 17 to 23 seconds and from 47 to 53 seconds because of the overlap. Everywhere else along the periphery of this subdial, finely drawn strokes for the seconds, slightly broader strokes for five-second intervals and digits for units of 10 seconds (0, 10, 30 and 40, in Arabic numerals) are easy to read against a circularly guilloché-embellished background. The little steel hand, however, isn't always easy to see. Ditto for the hand on the elapsed-minutes subdial, although the scale here, as on the small seconds subdial, is clearly legible and conveniently punctuated by Arabic numerals at the 5-, 10-, 15- and 25-minute positions. The indices between these numerals are also easily visible. The result is a harmoniously designed ensemble, but with less than ideal legibility. While we're on the subject of the dial, we shouldn't forget to mention the main display -- the large subdial for the ordinary hours and minutes. This indicator has been repositioned downward along the vertical axis into the lower portion of the dial. It does not dominate the stage but is not upstaged by the other elements, either. From an aesthetic standpoint, it also combines with the elapsed-seconds indicator above it to form a harmonious figure eight. Like the subdials for the running seconds and chronograph minutes, the hours-and-minutes disk is inset slightly below the The pressure-activated folding clasp has an asymmetrical design that ensures a good hold on the wrist, and the buttons make it easy to open. WatchTime February 2012

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CLOSE-UP Glashütte Original PanoMaticCounter XL WEARERS WILL NEED TO GET USED TO STARTING AND STOPPING THE CHRONO WITH THE LOWER BUTTON. Printed on two disks that rotate under the dial, the counter's bright red digits appear in a window at 9 o'clock.

plane of the main dial and is decorated with a circular guilloché pattern. Within the circle of 60 minute markings around its periphery, there is a smaller wreath of markers for the hours: it consists of eight gleaming, white-gold indices and four applied, white-gold Arabic numerals (3, 6, 9 and 12). Unfortunately, only the 12 is always easy to identify: the other three numerals tend to blur into indefinable objects depending on the lighting. Their thick, bulging typeface doesn't contribute to the legibility, either. Perhaps there simply isn't enough space for such large elements on a subdial. On the other hand, these polished, curved appliqués reflect incoming light, so the time display is always easy to find against the black galvanized background of the dial. The alpha-shaped, white-gold hands and the 12 dots, all of which are white in daylight and brightly luminous at night, also aid in legibility. However, the exact reading of the minutes temporarily becomes a guessing game at the two locations on the hours-and-minutes subdial where the elapsed-seconds ring overlaps its peripheral scale. This isn't a problem for the hour hand, whose tip barely overlaps the numerals, but the tip of the minute hand reaches nearly to the outer edges of the white minute strokes. The unusual time indicators, the chronograph function with a flyback mechanism, and the outsize date display are all familiar features from the PanomaticChrono, which originated with Glashütte Original's manufacture Caliber 95 from 2004, a movement with 367 components. The addition of the counter function in the new Caliber 96-01, which uses Caliber 95 as its base, increases the total number of parts to 584. Although the counter isn't connected to the timekeeping movement, it looks very much like a part of it. Glashütte Original crafts each part of its counter mechanism to meet the same standards that it upholds for the components of the base caliber. One visible expression of this is the seamless and gradual shifting of the counter's numbered disks, which cover components that have received the same ultra-fine finishing lavished on the parts of the main movement. The timekeeping movement boasts polished steel elements; beveled edges on flat parts; blued, polished screws; a Glashütte three-quarters plate with its distinctive banded pattern and, naturally, an engraved balance cock, the "must" feature on every Glashütte watch. Beneath the cock is the hoop of the balance, which bears 18 golden weight screws, and above it is a slender swan's neck spring with a threaded spindle to finely adjust the movement. THE RATE OF Caliber 96-01 is finely adjusted, indeed. Our timing machine discovered that the fully wound watch gained an average of only 1.6 seconds per day, without losing either rate or amplitude when the chronograph mechanism was allowed to run together with the timekeeping movement. Worn on the wrist, the PanoMaticCounter XL posted a daily gain between one and three seconds, again performing with an average daily rate deviation of just +1.6 seconds. Only after it has run for 24 hours does the rate performance begin to decline: the watch loses 1.3 seconds per day and the amplitude occasionally suffers noticeable declines. This underscores the value of this movement's wellthought-out self-winding mechanism: a bidirectional winding system transfers force to two barrels, which store enough energy for a power reserve of at least 42 hours. A patented, multi-step transmission guarantees ideal transfer of energy from the rotor to the two serially connected barrels: via a fast gear ratio, the bidirectionally effective rotor quickly conveys a large amount of energy to the barrels for a large enough moment of inertia to ensure steady amplitude. Afterward, the rotor winds the barrels via a slower translation and in only one direction of rotation. This twofold system ensures a constant level of tension in the mainsprings and thus a highly accurate rate, which was confirmed by the values we measured when the watch was fully wound. The self-winding mechanism also ensures that the mainsprings and gear train are not subjected to excessive strain. THE ROTOR IS TYPICAL "Glashütte," with a skeletonized double-G logo in its oscillating body and a 21k-gold piece screwed to its periphery. A well-shaped automatic bridge provides plenty of room to view the movement or, to be more precise, the chronograph mechanism, which, as is usual in integrated constructions, is mounted on the back side of the movement. A watch-savvy observer will recognize the long lever that stretches from the starting button of the chronograph to the sixpillared column wheel, as well as notice how the connecting wheel swings in and out between the base movement and the chronograph's mechanism, i.e., between the fourth wheel and the stop-seconds wheel. He will also admire the action of the heart lever when the chronograph is reset to zero or the flyback function is triggered. The transparent pane of sapphire crystal in the caseback, which provides this view of the movement, is affixed to the case by five screws. Its inner surface has nonreflective treatment. The sapphire crystal above the dial has nonreflective treatment on both its surfaces. The two crystals form the top and bottom of a 44-mm-diameter, 16-mm-thick stainless-steel case. Such stately dimensions are necessary because of the complex mechanisms inside the case, which has glossy, polished surfaces and a stepped bezel around the upper crystal. The lugs extend from the middle part of the case and continue downward far enough for the watch to be worn comfortably by people with slimmer wrists. Each pair of lugs provides a secure mooring for the ends of a high-quality, hand-sewn Louisiana alligator-skin strap, which has a sturdy, double-folding clasp at its other end. Unlike the case, the clasp is mostly matte, with satin finishing; only the sides, buttons and edges have a glossy polish. The double-G logo is engraved into the clasp, which closes firmly and has an asymmetrical design that keeps the 145-gram timepiece secure on the wrist. The clever system for opening the folding clasp emits a quiet but pleasing cracking sound when it snaps shut. ? February 2012 WatchTime 63

The Rolex Experience exhibition is located on the ground floor of an elegant building on the Bund in Shanghai. WatchTime February 2012 Photo © Rolex/Jean-Daniel Meyer

The world's biggest watch brand takes on the world's biggest watch market. BY NORMA BUCHANAN With Rolex in China

EXHIBITION Rolex in China olex doesn't often fraternize with the press. In fact, the company's secrecy has long been as much a part of its identity as its crown logo. That's why it came as a surprise when Rolex invited 10 journalists to Shanghai in October to see one of its latest projects, a permanent exhibition called "The Rolex Experience." The invitation says less about Rolex, and any possible change in its closedmouth policy (there has been none: interviews will be as hard to get as ever, a spokeswoman told us) than it does about the towering importance of the Chinese watch market. The country is, as everyone in the watch business knows, the world's biggest consumer of watches, gobbling up more than one-quarter of Swiss-watch exports in 2010, according to the Swiss Watch Federation. (These figures, the latest available, include exports to Hong Kong, which the FH reports separately from those to the mainland.) And these totals don't include Swiss watches sold to Chinese tourists visiting other countries. These watchhungry travelers are one big reason that France, for instance, has risen to become the world's third-largest market for Swiss watches. Nowadays, with sluggish consumer demand in Europe and the United States, China and its smaller Asian sisters are keeping the Swiss watch industry kicking. Rolex, though, has come late to the China party. Its biggest competitor, Omega, has been going great guns here for decades. Smaller luxury brands like Vacheron Constantin, Blancpain and Piaget have made huge inroads in the Chi66 WatchTime February 2012 Visitors enter the exhibit through a giant winding crown and are greeted by the Rolex crown logo. THE EXHIBIT IS A SIGN OF THE TOWERING IMPORTANCE OF THE CHINESE MARKET.

On display (l-r): the Deep Sea Special (1960) and the first Oyster (1926) nese market. (As just one example: Vacheron's boutique in Hong Kong does as much business as all its points of sale in the United States combined.) It was in answer to the question, "What are you doing about China?" being posed with drumbeat regularity by reporters all over the world, that Rolex flew a gaggle of them to China's biggest city. SHANGHAI, of course, is the commercial capital of China. Its flamboyant, neon-lit skyscrapers, most of them built in the past 15 years, testify to the city's explosive growth. The center of the city contains a famous row of elegant, older buildings called the Bund. In the late 19th and early 20th centuries, they housed the huge trading companies, insurance firms and banks that made Shanghai the financial hub of China. It is on this celebrated and historic street, on the ground floor of a building called the House of Roosevelt, whose upper floors house a private club, wine cellar and restaurant, that Rolex built The Rolex Experience. The exhibition, which takes up 800 square meters, is impossible to miss, heralded as it is by a long row of Rolex-green windows, which at night glow with the intensity of emeralds. It is the only such Rolex exhibit in existence, and there are no plans to duplicate it anywhere else, we are told. We head there first thing, entering the exhibit through a door designed to look like a gigantic winding crown. We follow the prescribed route, starting, like all visitors, with the section on Rolex history: its founding in 1905 by Hans Wilsdorf; its outstanding performance in chronometer tests at the Kew Observatory in Britain, where in 1914 a Rolex became the first wristwatch to receive a precision certificate; the birth of the water-resistant Oyster case in 1926 (an Oyster watch from 1926 is on display) and the perpetual winding rotor. We learn that Wilsdorf was an ardent champion of the wristwatch in the first years of the 20th century, when almost no one believed it could ever compete with the pocketwatch. One display contains a letter Wilsdorf wrote in 1914 in which he proclaims, in French, "My personal opinion is that pocket watches will almost completely disappear and that wristwatches will replace them definitely! I am not mistaken in this opinion and you will see that I am right." The exhibit also delves into the mystery of how Rolex got its name. One February 2012 WatchTime 67 Photos © Rolex/Jean-Daniel Meyer

EXHIBITION Rolex in China Photo © Rolex/Gianni Ciaccia Daniel Neidhart (left) awarded a Rolex to Rolex Shanghai Master winner Andy Murray. Photo © Rolex/Jean-Daniel Meyer showcase contains a letter that Wilsdorf wrote in 1958 in which he outlined the criteria he had used a half-century earlier when he named the brand. In his opinion, he wrote, a good brand name had at most five letters, was easy to pronounce in every language, had a good ring to it, was easy to remember and looked good on movements and dials. (Exactly how "Rolex" became that name has never been determined with certainty.) There is also a photo of the London bus that Wilsdorf is said to have been riding when he came up with the name. In another section of the exhibit, visitors get a glimpse, via video, of the manufacturing processes performed at Rolex's four factory sites in Switzerland. The company's movement production takes place in Bienne; case and bracelet manufacturing in Plan-les-Ouates, on the outskirts of Geneva; gem-setting and dial production in Chêne-Bourg, also just outside Geneva; and watch assembly in the 68 WatchTime February 2012 Acacias section of Geneva. Elsewhere, touch screens enable visitors to learn about such Rolex specialties as Parachrom hairsprings, Paraflex shock absorbers and Easy Link bracelets. In a separate room, containing a 330-degree, wraparound movie screen, we see a video about the birth of the Rolex Oyster, the world's first truly water-resistant watch, introduced in 1926. (Rolex was also the first brand to make a watch water-resistant to 100 meters, and the first to manufacture a calendar watch in which the day of the week was spelled out, the film tells us.) To underline Rolex's expertise in making waterresistant watches, it also devotes part of the exhibit to the Deep Sea Special, the celebrated Rolex watch that in 1960 survived a trip to the bottom of the nearly-seven-mile-deep Marianas Trench, in the western Pacific Ocean, strapped to the outside of the bathyscaphe Trieste. Part of the exhibit focuses on the company's sponsorship programs in sports and the arts (Rolex sponsors several Chinese musicians and athletes), and contains a collection of sports equipment and clothing used by various athletes that Rolex sponsors. The items include a model of a Farr 40 yacht, in honor of the Rolex Farr 40 World Championship, and the riding pants worn by a Rolex-sponsored dressage champion (but, alas, not the tuxedo-style shorts worn in evening matches by Rolex's best-known endorser, Swiss tennis star Roger Federer). Elsewhere, Rolex highlights its philanthropic activities, which include grants for mentoring writers and artists, through the Rolex Mentor and Protegé Arts Initiative, and for encouraging entrepreneurship, especially in underdeveloped regions of the world, with the Rolex Awards for Enterprise. Next door to the exhibition is a Rolex-only store, called the Rolex

Touch screens offer explanations of Parachrom balance springs, Paraflex shock absorbers and other Rolex-watch features. Photo © Rolex/Jean-Daniel Meyer DIFFERENT SECTIONS OF THE EXHIBIT HIGHLIGHT ROLEX HISTORY, TECHNOLOGY, SPONSORSHIPS AND GOOD WORKS. In a separate theater, visitors learn the story of the Oyster. Gallery, where some 200 current Rolex models are sold. It is operated by the Hong Kong-based retailer Oriental Watch. THAT NIGHT, at a dinner in a restaurant atop the Peninsula Hotel (first course: oysters, naturally), also on the Bund, the journalists get a rare chance to rub elbows with a top Rolex executive. That executive is Daniel Neidhart, chief of Rolex's Hong Kong-based operations (and, some believe, next in line to become the company's CEO; see below). Neidhart says that The Rolex Experience was inspired by a temporary exhibit, called "Into the Realm of Rolex," staged in 2009 in Beijing. That Rolex began its push in China later than some other watch brands is due to one fact, he says: until China was admitted to the World Trade Organization, in 2001, the country would not allow foreign enterprises to set up wholly owned subsidiaries within its borders. Only joint ventures were permitted, and Rolex did not want to operate through joint ventures. Since China obtained WTO membership, the company has opened three subsidiaries, in Shanghai, Beijing and Guangzhou, to handle after-sales service. The company now has 230 points of sale in China, a combination of Rolex-only boutiques, like the one conjoined to The Rolex Experience, and multi-brand stores. Our dinner with Neidhart comes just five months after a major and unexpected management shift in which he played a starring role. In May, Rolex announced that its CEO, Bruno Meier, was stepping down after three years at the helm and would be succeeded by Gian Riccardo Marini, who had headed Rolex's operations in Italy. This alone was noteworthy: Rolex is famous for the longevity of its CEOs; there were just three between the company's founding and 2008. What was even more interesting, though, was the new management structure accompanying the change: henceforth, Rolex's foreign subsidiaries would report directly to Neidhart. Since then, Rolex-watchers have speculated that Neidhart would be elevated to succeed Marini when the latter, who is in his mid-60s, retires. Rolex confirms nothing other than the fact that such a move has, indeed, been the focus of much speculation. The next day, we see Neidhart again, as do more than 10,000 other people. He stands in center court at the gigantic Qi Zhong stadium on the outskirts of Shanghai and presents a Rolex watch to British tennis ace Andy Murray, who has just won the Rolex Shanghai Masters tournament. For two years, Rolex has been the title sponsor of the event. Tennis sponsorships are part of a snowballing sports-marketing program Rolex has undertaken in China in the past few years, as we have learned from the exhibition. Golf is the program's other major pillar: in 2010 the company signed a partnership agreement with the China Golf Association, and the company sponsors the HSBC Champions in Shanghai. Rolex has also put its money behind a project to promote the sport in China by sponsoring the translation of the Rules of Golf, the list of rules observed by golfers all over the world, into Mandarin. Through golf, tennis and the Bund exhibition, the company hopes to translate the world of Rolex into Mandarin, too. ? February 2012 WatchTime 69

The Sphérotourbillon has an inclined tourbillon, calendar and second time zone.

TWIN POWERS BY NORMA BUCHANAN Jaeger-LeCoultre's new Duomètre Sphérotourbillon has two independent barrels for greater precision. t this year's Salon International de la Haute Horlogerie, in January in Geneva, Jaeger-LeCoultre is unveiling a new, double-axis tourbillon watch called the Duomètre à Sphérotourbillon. JLC's headline introduction for the year, the watch is as much showpiece as timepiece. JLC executives say the Sphérotourbillon stands as a symbol of what JLC, with its giant, super-multitasking factory in Le Sentier in Switzerland's Vallée de Joux, can do. The watch's 460-component movement, Caliber 382, designed and made in-house, incorporates myriad technical innovations and unusual features. First among them is its so-called Duomètre system of delivering power to the watch using two independent barrels. One powers the tourbillon and the other the time indications and calendar. Providing separate energy sources ensures that the power required to move the hands does not sap the steady supply of energy needed to keep the balance running precisely. The Sphérotourbillon is the latest in a series of watches that make use of the February 2012 WatchTime 71

CLOSE-UP Jaeger-LeCoultre Duomètre à Sphérotourbillon Jaeger-LeCoutre's huge factory in Le Sentier Duomètre system. Both barrels are wound via the crown. Turning it in one direction winds the barrel driving the time indications and turning it in the other direction the barrel for the escapement. The dial has a power-reserve indicator for each barrel. One of the watch's major points of distinction is its stopseconds flyback function, the first ever in a tourbillon watch. This function, operated by means of a pusher at 2 o'clock, enables the wearer to synchronize the watch with an external time signal, such as the radio signal from an atomic clock. That way, the watch wearer can benefit fully from the movement's impressive precision, JLC says. Other tourbillon watches have had stop-seconds 72 WatchTime February 2012 functions, enabling the wearer to stop the seconds hand at zero in order to synchronize it. But none has ever had a seconds hand that can be brought back to zero and restarted instantly so that synchronization can be quick and precise. The stop-seconds function has another notable feature. On a standard stop-seconds, or hacking, watch, the balance stops when the stop-seconds function is activated. This causes a loss in precision, JLC says, because when the balance starts oscillating again it needs time to recover from having been at a dead stop. But with the Sphérotourbillon, thanks to the Duomètre system, the balance keeps oscillating and the tourbillon turning when the seconds hand is stopped. Another unusual feature of the watch is its two-axis tourbillon, a concept JLC first used in 2004 in its Gyrotourbillon 1. The tourbillon revolves around both its own axis and around a second axis inclined at a 20-degree angle. The point of this arrangement is to prevent the tourbillon from ever resting in a horizontal position, even when the watch itself is lying flat. This is desirable because a tourbillon has no effect on precision when it is in a horizontal plane. Originally intended for use in pocketwatches, the tourbillon was designed to correct for timing errors in the vertical position only. Because the balance of the Sphérotourbillon is always inclined, it loses no more than eight or 10 degrees of amplitude when the watch moves from one position to another. A standard balance often loses 20 degrees or more moving from the horizontal to the vertical position. The tourbillon is made even more precise by the speediness of its rotations, says JLC. The carriage revolves around its first axis every 30 seconds (most tourbillons revolve once per

SPECS JAEGER-LECOULTRE DUOMÈTRE À SPHÉROTOURBILLON Manufacturer: Jaeger-LeCoultre, Rue de la Golisse 8, CH-1347 Le Sentier, Switzerland Reference number: 605 25 20 Functions: Hours, minutes, stop-seconds; return-to-zero function operated via push-piece at 2 o'clock; second time zone; pointer-type date moves forward or backward along with local-time hour hand; one power-reserve display for each of the two barrels Movement: Manufacture Caliber 382; double-axis tourbillon with second axis inclined at 20°; rotation speeds for two axes once per 30 seconds and once per 15 seconds, respectively; titanium tourbillon carriage with 11.5-mm diameter; constructed according to Duomètre concept, with two independent barrels and trains, one powering the time indications and the other the tourbillon; cylindrical balance spring with two terminal curves; 14k-gold balance with 14k-gold inertia blocks, inertia = 12.5mg·cm², 21,600 vph; manually wound by turning crown in one direction for one barrel and the other for the second barrel; 50-hour power reserve; 460 components; 55 jewels; nickel silver bridges and mainplate; diameter = 33.70 mm; height = 10.45 mm Case: Rose gold; nonreflective sapphire crystal and caseback; diameter = 42 mm; height = 14.1 mm, including crystals; water-resistant to 50 meters; polished and satin finishes Strap and clasp: Hand-sewn crocodile with 18k-gold pin buckle Variations: Platinum case, limited edition of 75 pieces (220,000 euros, U.S. prices not yet determined) Price: 200,000 euros (U.S. price not yet determined) The double-axis tourbillon is inclined at a 20degree angle. minute) and around its second, inclined axis every 15 seconds. Faster rotations mean greater precision, the company says. The tourbillon carriage is made of titanium to keep its weight down to just 0.518 grams. It consists of only two sections, which means fewer screws and pillars are needed than on a traditional tourbillon and the weight is therefore minimized. The watch's balance spring is also unorthodox; it is coiled in a cylinder like the balance springs used in marine chronometers of yore. The main advantage of this shape is that it allows for terminal curves at both ends of the spring -- not, as on a flat balance spring, at just one end. This means that the spring will beat concentrically in all positions and hence keep better time. The watch has a second time zone, in 24-hour format (the word fuseau on the dial means "time zone"), and a calendar. Moving the hour hand forward or backward automatically changes the date. The calendar display is what JLC calls a "jumping date": when the date pointer moves forward to the first of the month, it advances in a long leap to traverse the gap between the "31" and the "1" on the date ring. February 2012 WatchTime 73

CLOSE-UP Jaeger-LeCoultre Duomètre à Sphérotourbillon a cylinder, JLC's own technician takes over, cutting the spring and shaping its terminal curves. (Making the curves alone requires two hours and assembling the escapement takes an entire day.) The movement and watch itself are assembled in a special complications department employing 34 watchmakers. A single watchmaker is in charge of the entire assembly and also servicing the watch after it is sold. Jaeger-LeCoultre's Sphérotourbillon is the fourth and latest member of its "Duomètre" series. All have in common a single feature, the source of the "Duo" in the watches' name: two independent barrels that power different functions in the watch and thereby prevent the energy requirements of one function from impairing the watch's timekeeping precision. The company nicknamed the concept "Dual-Wing," the two "wings," or sides, being the two sections of the movement containing the two going trains, one for each barrel. The series began in 2007 with the launch of the Duomètre à Chronographe, containing Caliber 380. In that watch, one barrel and going train power the elapsed seconds, minutes, hours, and foudroyante display, at 6 o'clock, which shows 1/6-second increments, corresponding to the balance's frequency of 21,600 vph. The other barrel and going train drive the regular time indications. Unlike other chronographs, this one has no coupling clutch because each of the two functions, chronograph and regular time, has its own power source. The chronograph and regular time both have power reserves of 50 hours, indicated by two displays on the dial. This structure prevents the chronograph from affecting the precision of the regular-time indications. In the Duomètre à Chronographe, the precision of the timekeeping function is the same whether the chronograph function is switched on or off. The chronograph indicators are on the right side of the dial and the regular-time displays on the left. To prevent confusion, the hands on each are color-coded: blue for the chronograph indicators and golden or rhodium-plated, depending on the particular model, for the regular time. In 2009, JLC launched its second watch using the Duomètre concept, a grande sonnerie containing Caliber 182. Here, one barrel was used to power the chiming mechanism, which rang with the same tones as the famous Westminster, or Big Ben, chimes in London. The other barrel powered all the other indications, i.e., the time displays and the indicators for a perpetual The Duomètre à Chronographe contains Caliber 380. The Duomètre system, combined with the fast-rotating, double-axis tourbillon and cylindrical balance spring, makes for an unusually precise rate, JLC says. The watch will be off by one second per day or less. This is slightly less precise than the Gyrotourbillon 1, which loses or gains no more than 0.5 seconds per day (the difference is due to the smaller size of the Sphèrotourbillon mechanism). It is nonetheless considerably more precise than a similarly well-made single-axis tourbillon, which gains or loses as much as three seconds per day, JLC says. As notable as the watch itself is the fact that nearly all of it, from case to balance to tourbillon carriage, was made in-house. For nearly a decade, JLC has been developing and enhancing its complications-making ability. Design occurs in one dedicated department using 3D CAD CAM systems. All the components for the escapement are made on the premises except for the wire used for the balance spring, which, like most of JLC's balance springs, is produced by JLC's sister company in the Richemont Group, A. Lange & Söhne. Once the wire is delivered, coiled in WatchTime February 2012

The Hybris Mechanica à Grande Sonnerie The Duomètre à Quantième Lunaire and its movement, Caliber 381 calendar. The watch was called the Hybris Mechanica à Grande Sonnerie, and sold as one in a set of three high-complication watches. The next year came Duomètre number three, the Duomètre à Quantième Lunaire, containing Caliber 381. In this watch, one barrel is responsible for powering the escapement only. The other drives both the time and calendar indications, including the moon-phase indicator. Like the Chronographe, the Quantième Lunaire has a 1/6-second foudroyante display. The foudroyante mechanism gets its power from the same barrel as the other indicators. The watch has a stop-seconds, or hacking, feature, which stops both the regular seconds hand and the foudroyante hand so that the watch can be synchronized with a time signal. While the seconds are stopped, the escapement continues oscillating. This prevents any loss in precision that would occur if the balance had to restart from a resting position. The Duomètre à Sphérotourbillon resembles the Quantième Lunaire in the division of labor assigned to its two barrels: one powers the escapement and the other the time indications. And, like the Quantième Lunaire, it has a stop-seconds function (albeit with the additional bonus of a flyback feature). There are more Duomètre models being developed, says Stéphane Belmont, the company's international marketing director. One will come out next year and another in 2014. Stay tuned. ? MORE DUOMÈTRE MODELS WILL COME OUT IN 2013 AND 2014. February 2012 WatchTime 75

INTERVIEW Jaeger-LeCoultre's Jérôme Lambert INTRICATE Jaeger-LeCoultre's series of fantastically complicated watches is meant to send a simple message, says CEO Jérôme Lambert. hen Jérôme Lambert looks back on his first decade at the helm of Jaeger-LeCoultre, one achievement stands out among all others. It's the string of highly complicated watches that started eight years ago and has now led to the diabolically complex Duomètre à Sphérotourbillon, the company's star introduction for this year. When Lambert became CEO, in April of 2002, the company was known almost entirely for its Reverso watch, whose most obvious technical innovation was its case, not its movement. This was despite the fact that JLC had been making its own movements since the mechanical-watch revival began more than a decade earlier -- JLC was a manufacture before being one was fashionable -- and was a supplier to many other prestigious brands. "Somehow we were not putting that expertise on stage," Lambert says. "We had this fantastic mastery, but no product [we had] really embodied that level of expertise." 76 WatchTime February 2012 GETTING His solution was to introduce a series of extremely complicated watches, a new one every year, that would knock the socks off any watch lover who saw them. The series began in 2004 with a fireworks display: the Gyrotourbillon 1, a double-axis, inclined tourbillon with perpetual calendar, equation of time and eight-day power reserve. It was priced at $275,000. Another showstopper, unveiled in 2006, was the Reverso Grande Complication à Triptyque, a three-faced watch with tourbillon, perpetual calendar, astronomical chart, equation of time, and much else ($375,000 at the time). There have been others, among them the Reverso Gyrotourbillon 2 and the three Duomètre models launched between 2007 and 2010. The latest high complication is the Duomètre à Sphérotourbillon, which is being unveiled at SIHH in Geneva this January (see preceding story). All these watches are made in JLC's 25,000-square-meter factory in Le Sentier, an amalgam of buildings dating back to the mid-19th century, where the company makes everything from cases to nearly invisible movement parts (the tiniest component made there is the 0.6-mm guard pin for Caliber 101, the smallest mechanical movement in the world) to tourbillon cages. It is this know-how and versatility to which Lambert wants to draw attention with his show-off series of complications. About 1,200 people work in the factory (to give you an idea of its relative size, the whole Vallée de Joux has just 6,000 inhabitants), making not just high complications, of course, but all the models in JLC's watch families: the Reverso, Master and Duomètre. JLC makes 60 different calibers. It manufactures some of its own cases and some dials and hands. It even employs its own enamellers and gem-setters. JLC makes escapements for more than 60 percent of its watches, Lambert says. (The company does not divulge how many watches it makes a year, other than to say it is about as many as Patek Philippe. Sources put that company's production at about 45,000 watches per year.) It was Günter Blümlein, former chairman of JLC, who, before he died in 2001, decided to make JLC, which already made parts of some its escapements, a start-to-finish escapement manufacturer. "Mastering that has been a tremen-

dous additional challenge of the past 10 years," Lambert says. The problem is that we don't have just three escapements. We have more than 40 different ones. And you have to do each one from scratch, meaning the spiral is different, the balance wheel is different, the réglage is different. Every one is like a new movement." In the next five to 10 years, JLC will be making the escapements for 80 percent of its watches. The company also makes escapements for some other brands under the Richemont Group umbrella. It was Richemont's purchase of JLC that has made possible much of the brand's recent progress, Lambert says. Richemont bought the company, along with IWC Schaffhausen and A. Lange & Söhne, all part of the Mannesmannowned Les Manufactures Horlogères, in 2000. (The astronomical price, 3.08 billion Swiss francs, about $1.7 billion at the time, was due mostly to JLC's movement-making capability.) The acquisition brought what Lambert calls "oxygen" to the brand, enabling it to expand its manufacturing capabilities and fulfill its highhorology potential. JLC was able to add a new wing to its factory, a project undertaken in the economically catastrophic year of 2008 and finished in 2009. Throughout the recession, the company has invested huge amounts in research and development: the equivalent of 30 or 40 percent of what it has spent on media and marketing. (The company does not release information about those expenses.) "Jaeger-LeCoultre has registered more than 80 patents in the past 10 years," Lambert says. Also thanks to the Richemont acquisition, JLC was able to grow internationally, buying back its distribution in markets including Hong Kong (now its largest market), Japan, Singapore and Italy, and setting up its own subsidiaries. (There already was a U.S. subsidiary at the time of the takeover. This country now ranks somewhere between five and 10 among the brand's top markets, Lambert says. He declines to be more specific.) The company's rapid growth in China, which began in 2002, is due to support from Richemont, Lambert says. And the company has benefited from Richemont's logistical support. Without "WE HAD THIS FANTASTIC MASTERY, BUT NO PRODUCT WE HAD REALLY EMBODIED THAT LEVEL OF EXPERTISE." it, JLC executives would have had a far harder time focusing on watchmaking. "On Monday, you have to be a lawyer, on Tuesday, a tax advisor, and maybe on Wednesday you can concentrate on your job," he says. The company has been able to call on Richemont's retailing expertise for the expansion of its string of boutiques, of which there are now 45. "Retailing Jaeger-LeCoultre is probably 10 times easier [under Richemont] because retailing has been part of the group's activities for [so long]," Lambert says. Although some people think that being taken over by a big conglomerate weakens a brand's identity, the opposite has been true for JLC, he says. "Jaeger-LeCoultre has never been as much Jaeger-LeCoultre as it is today, being part of the group." ? The Gyrotourbillon 1 The Reverso Grande Complication à Triptyque The Reverso Gyrotourbillon 2 February 2012 WatchTime 77

Pros + An attractive variation on the classic Royal Oak design + All components are very well crafted + Handsome, technically interesting manufacture caliber Cons - Setting the dive-time ring is sometimes difficult - Expensive for a steel watch WatchTime February 2012

We put Audemars Piguet's Royal Oak Offshore Diver, a watch built for sport but suited for leisure, through its paces. BY ALEXANDER KRUPP PHOTOS BY OK-PHOTOGRAPHY

TEST Audemars Piguet Royal Oak Offshore Diver crown can be conveniently unscrewed and easily turned, but only if the diver isn't wearing gloves. This is another hint that this watch is meant for tropical climates. Also, the crown is somewhat difficult to reach if the owner is wearing the watch, as most people do, on his left wrist. Because the screwed crown prevents the rotatable ring from being inadvertently repositioned, Audemars Piguet designed the ring so that it can rotate in two directions. This makes it easier and quicker to set the zero point of the dive. THE ROYAL OAK Offshore Diver is well suited for diving, but would you really want such a handsome, high-quality and expensive watch to run the risk of rubbing against hard equipment or scraping against the deck when you climb out of the water? You'd probably prefer to wear it while sipping a cocktail on deck or dining at an exclusive seaside restaurant. If so, this watch will look and feel right at home because a Royal Oak always makes a stylish statement -- even this model, with its sporty rubber strap. Contributing to its good looks is its perfectly crafted dial, with the trademark "Mega Tapisserie" textured pattern, and its hour hand and minute hand, both made of white gold. Another ingredient in the Diver's special appeal is its multifaceted and impeccably crafted case. Familiar features borrowed from other Royal Oak models include hexagonal white-gold screws in an octagonal bezel and beautifully alternating satin-finished and polished surfaces. The rubber ring under the bezel is especially thick, as it is on all Offshore models. The Diver also has SPECS AUDEMARS PIGUET ROYAL OAK OFFSHORE DIVER Manufacturer: Manufacture d'Horlogerie Audemars Piguet, Route de France 16, CH-1348 Le Brassus, Switzerland Reference number: 15703ST.OO.A002CA.01 Functions: Hours, minutes, seconds; date; stop-seconds function; diving-time ring underneath crystal Movement: Manufacture Caliber 3120, automatic; 21,600 vph, 40 jewels, freely oscillating Glucydur balance with eight regulating weights, Kif shock absorption, 60-hour power reserve; diameter = 26.6 mm, height = 4.25 mm Case: Stainless steel; flat sapphire crystal, nonreflective on its inner surface; stainless-steel caseback held in place by eight screws; two threaded, rubber-coated crowns; soft iron inner case to protect against magnetic fields, water-resistant to 300 meters Strap and clasp: Rubber strap with stainless-steel pronged buckle Rate results: (Deviations in seconds per 24 hours) Dial up Dial down Crown up Crown down Crown left Crown right Greatest deviation of rate Average deviation: Mean amplitude: Flat positions Hanging positions 296° 250° +12 +5 -4 +5 -1 +3 16 +3.3 on't be fooled by its chic styling and haut de gamme price tag ($18,900): the Audemars Piguet Royal Oak Offshore Diver, which was launched in 2010, is a rugged, real-world divers' watch, with all the features a watch needs to survive the rigors of the deep. IT'S BETTER SUITED for warm climates than cold ones, because the watch's strap has no extension piece to make it long enough to wear over the sleeve of a wetsuit. In all other areas, however, this watch meets the requirements expected of a genuine divers' watch. It is water-resistant to 300 meters, 100 more than the standard 200 meters expected of divers' watches. It also has a rotatable ring with a luminous zero mark to set the dive time, the dial displays glow in the dark, and the hands for hours, minutes and seconds have different shapes for easier reading under water. The rotatable ring has single-minute subdivisions for the first quarter-hour, which are sufficient for most practical diving situations. Unlike a classic divers' bezel, the ring is positioned underneath the crystal and can be reset by turning the additional crown at 10 o'clock. The ring clicks authoritatively into place in singleminute increments, and its designated Dimensions: Diameter = 42 mm, height = 13.8 mm, weight = 168 grams Price: $18,900 WatchTime February 2012

Self-winding Caliber 3120 is based on the hand-wound Caliber 3090. February 2012 WatchTime 81


SCORES AUDEMARS PIGUET ROYAL OAK OFFSHORE DIVER Strap and clasp (max. 10 points): The solid rubber strap and massive, pronged buckle are very well crafted, but there is no extension piece for wearing the watch over a wetsuit. 8 Operation (5): The time and the date are more convenient to set than the divetime ring. 3 Case (10): The octagonal case is multifaceted, very water-resistant and excellently constructed. 10 Design (15): A perfect translation of the legendary Royal Oak design into a divers' watch. 15 Legibility (5): Because of the many details on the dial, it is hard to read the time at a quick glance. 4 Wearing comfort (10): The heavy case, the broad strap and the massive clasp fit quite comfortably around the wrist. 8 Movement (20): The freely oscillating Glucydur balance is borne under a bridge rather than a cock; the power reserve is an impressive 60 hours; and all bearing parts are decorated. The movement's construction and embellishments are impeccable. 18 Rate results (10): The average values on the timing machine and on the wrist are good, but the deviation among the various positions is too high. 6 Overall value (15): It's plenty of wristwatch, but buying it requires plenty of money. 11 TOTAL: 83 points is not a problem if you abide by the Golden Rule of hand-setting, and turn the minute hand just slightly forward past the correct time before moving it backward to the proper minute. The dial's legibility is essentially very good, although the many indices, the tripartite hour hand and the textured surface can create confusion at a quick glance. Fewer of these elements are visible in the dark, so the overall picture is clearer: the dive time is clearly legible under water and the hours and minutes are easy to read at night. THE ONLY NEGATIVE comment we can make about the 278-part, automatic Caliber 3120, which is based on Audemars Piguet's hand-wound Caliber 3090, is that it's not in plain sight. If you want to see the movement, with its bidirectional, ball-borne rotor, you must remove the eight screws that hold the back in place (mating threads connect each of these screws with corresponding screws in the bezel). Doing so, however, will jeopardize the case's water-resistance and the protection against magnetic fields provided by the soft-iron inner case. The movement has an unusually long power reserve of 60 hours. If the power runs down and the watch requires manual winding, the clever winding mechanism minimizes resistance and is protected against excessive wear or potential damage by a decoupling system. The escapement has an elegant, freely oscillating hairspring and eight adjustable weights, six of which are for pre-regulation and two for fine adjustment. The balance copes well with shocks and blows because it's held by a bridge (which is affixed at both ends) rather than by a cock (which is affixed at only one end). rubber covers on both crowns. The elaborately crafted caseback has no sapphire window, but its grained center bears the words "Royal Oak Offshore" as a relief engraving: each letter boasts polished upper surfaces. Two particularly fine details are the tapered and polished edges along the upper surfaces of the lugs and the even slimmer beveling on the crown protector. The case is among the best to be found anywhere, although the wearer might have a little trouble slipping the watch under a longsleeved shirt or sweater because of the case's angular construction. (Yet another sign that this watch is suited for milder weather.) The strap connects seamlessly to the large, heavy case thanks to two movable brackets that are meticulously satin-finished on both their front and back surfaces. The strap's styling is sleek and simple, but the solidity of its craftsmanship will appeal to connoisseurs, as will the graining on its upper surface (which resists dust) and on its inner surface (which minimizes perspiration). Wide holes in the strap easily accommodate the massive prong on the stylish clasp, whose large dimensions make it a perfect match for the strap and the case. The watch's large, main crown is very convenient to use. Thanks in part to its rubber cover, it is very easy to unscrew, pull out and turn. Winding the watch, which is done with the crown fully extracted, is smooth as silk, as is resetting the date. We found a bit too much play in the hands when setting the time, but this February 2012 WatchTime 83

TEST Audemars Piguet Royal Oak Offshore Diver Noteworthy among the movement's numerous decorations, most of which are done by hand, are the beveling and polishing on the bridges and plates, as well as the inset sinks for the ruby bearings and screws. The heads and the slits of the screws are polished; other parts are adorned with Geneva waves, sunburst patterns and various types of large circular graining. The rotor is another visual highlight: crafted from 22k rose gold, it's decorated with the brand's insignia and logo, as well as with the coats-of-arms of the Audemars and Piguet families. Considering all this attention to detail, we were surprised to discover that the movement in our test watch didn't run with impeccable regularity. Although the average gain across all six positions was a reasonably small 3.3 seconds, the 84 WatchTime February 2012 THE WATCH IS EXPENSIVE BUT WELL-CRAFTED AND HAS AN IN-HOUSE MOVEMENT. values in the "dial up" and "crown up" positions differed by a full 16 seconds. Of course, most people who wear this watch will be concerned primarily with the daily average. But here, too, we noticed deviations among the various positions. In our wrist test, during which we wore the watch almost constantly for days, the Diver performed excellently, with a gain of just one second. When the watch was left motionless with its crown up, its rate strayed into the minus column, losing 2.5 seconds per day. When deciding whether to purchase the Audemars Piguet Royal Oak Offshore Diver, you'll have to decide if the price is worth it for a steel watch, even one with a manufacture movement. If you decide that it is, you can be confident that it will make an equally good impression on land and in the water. ?

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Pros + Eye-catching design + Impeccable craftsmanship + Comfortable on the wrist + Innovative material Cons - Less than ideal legibility - Irregular rate WatchTime February 2012

SHADES OF GRAY With its shiny, lightweight, titaniumceramic case, Chanel's J12 Chromatic is a triumph of form. Now we see how it functions. BY JULIA KNAUT PHOTOS BY OK-PHOTOGRAPHY

TEST Chanel J12 Chromatic THE CHROMATIC'S COMBINATION OF TITANIUM-CERAMIC AND STAINLESS STEEL MAKES IT NOT ONLY LIGHTER THAN AN ALL-STEEL WATCH BUT ALSO LIGHTER THAN OTHER J12 MODELS WITH CERAMIC CASES. he most difficult feature to describe on Chanel's J12 Chromatic watch, which debuted at the beginning of 2011, is its color. Too eye-catching to be called simply "gray," its closest approximation is gleaming anthracite, a contrast with the black and white cases of earlier J12 models. Rather than a standard monochrome finish, the case has a polished surface that adopts the tonality of its surroundings, which it reflects as a dark shimmer. Like a chameleon (which was the watch's name in its developmental phase), it changes its color to suit its environment. Change and adaptation have always been hallmarks at Chanel, a company that began when Gabrielle Bonheur ("Coco") Chanel opened her first fashion boutique in Paris in 1918. Over the years, the business expanded to sell not only fashionable clothing but perfumes and accessories as well, and today Chanel ranks among the world's best-known luxury brands. Chanel added watches to its core segments of fashions and fragrances in 1987: its first wristwatch was appropriately christened the Première. In creating that watch, Chanel enlisted the expertise of G&F Châtelain, a Swiss firm based in La Chaux-de-Fonds that has specialized in assembling watches and setting precious stones since 1947. After the launch of its second model, the Mademoiselle, Chanel took over G&F Châtelain in 1993, and its 88 WatchTime February 2012

SPECS CHANEL J12 CHROMATIC Manufacturer: G&F Châtelain, Allée du Laser 18, CH-2300 La Chaux-de-Fonds, Switzerland Reference number: H 2979 Functions: Hours, minutes, central seconds; date; stop-seconds function Movement: ETA 2892 "Elaboré," automatic; 28,800 vph; 21 jewels; Etachron index regulation with eccentric; Incabloc shock absorption; 42-hour power reserve; diameter = 25.6 mm; height = 3.6 mm Case: Titanium-ceramic, stainless steel (bezel, caseback, crown); bezel turns in only one direction; sapphire crystal; stainless-steel caseback held in place by eight screws; water-resistant to 200 meters Bracelet and clasp: Polished titaniumceramic bracelet with double-folding clasp made of stainless steel Rate results: (Deviation in seconds per 24 hours) Chanel manufactures the J12's sprung clasp, which is unique in the watch industry. Dial up Dial down Crown up Crown down Crown left Crown right Greatest deviation of rate: Average deviation: Average amplitude: Flat positions Hanging positions Dimensions: Diameter = 38 mm, height = 11 mm; weight = 130 grams +4 +5 0 +1 +8 -5 13 2.2 280° 249° watches have been made there ever since. From the start, Chanel wanted to bring as much of the manufacturing process inhouse as possible. Watch assembly, casecomponent manufacturing and gemstone setting all take place in Chanel's own ateliers. The brand earned further renown through cooperative arrangements with great names in the watchmaking industry, like Giulio Papi of Renaud et Papi for the Rétrograde Mystérieuse model. THE J12, WHICH debuted at the turn of the millennium, was Chanel's first collection with mechanical movements. The success of this high-tech ceramic watch prompted the brand to venture into horological complications. Caliber 3125 was built especially for Chanel by Audemars Piguet; in turn, A.P. equipped its own Caliber 3120 with a high-tech ceramic rotor from Chanel. What separates the J12 Chromatic from the rest of the collection, and what gives it its distinctive color, are its case components made of titanium-ceramic, used here for the first time in the watch industry. Not only does this new compound look beautiful, it's also highly functional: the combination of high-tech ceramic and titanium makes the hybrid substance unusually lightweight, yet harder (1,650 Vickers) and more scratch-resistant than its base material, high-tech ceramic, which has a hardness of only 1,300 Vickers. Furthermore, a blend of titanium and ceramic reacts less strongly than steel to extreme heat or cold. For technical reasons, however, the Chromatic's bezel, the back of its case and its clasp are made of steel. In keeping with Chanel's tradition, the J12 Chromatic boasts a design that's February 2012 WatchTime 89 Variations: Various sizes (41 mm, 38 mm, 33 mm); with round or baguette diamonds; quartz or mechanical movement ($6,300 - $55,000) Price: $6,300

TEST Chanel J12 Chromatic SCORES CHANEL J12 CHROMATIC Bracelet and clasp (max. 10 points): The bracelet is made of titaniumceramic and is very well crafted, but it shows smudges easily; this type of sturdy double-folding clasp is made only by Chanel. 9 Operation (5): The folding clasp is easy to grasp and operate, but only after some practice. 4 Case (10): Thoroughly well crafted and highly water-resistant; the caseback is unfortunately not made of ceramic. 9 Design (15): The lavishly detailed design is harmonious and looks very elegant in combination with the shimmery color scheme. 14 Legibility (5): Low contrast between the dial, hands and hour numerals, together with the long counterweight on the seconds hand, detract from the legibility. 3 Wearing comfort (10): Very pleasant to wear thanks to the polished surfaces and titanium-ceramic case, which quickly warms to skin temperature. 9 Movement (20): A tried-and-true, largeseries ETA 2892 without adornment. 10 Rate results (10): The timing machine and the wearing test both recorded only a minimal daily gain, but the greatest difference among the several positions was very large. 7 Overall value (15): Manufacture watches are offered in this price range, but the unusual case material makes this timepiece special in its design and its feel. 12 TOTAL: 77 POINTS WatchTime February 2012

In this watch's unconventional construction, the caseback is immovably connected to the bracelet. Left: the ETA 2892. simultaneously elegant and richly detailed. The dial has a guilloché-embellished circular margin onto which rhodium-plated numerals are placed in a radial arrangement. This contrasts with the vertically satin-finished disk that comprises the inner portion of the dial. Small index strokes form a minute circle around the flange. Luminous material coats the hands for seconds, minutes and hours. The date is shown in a window between 4 o'clock and 5 o'clock. The tasteful styling of the Chomatic's dial continues on the bezel, where we find the same typeface used on the dial and a juxtaposition of satin-finished and polished surfaces that suits this watch perfectly. The combination of a broad bezel and a comparatively small dial won't appeal to everyone, but the well-crafted, easy-togrip rotatable bezel, which clicks authoritatively into place, should win many fans. In the area of legibility, however, this watch could stand some improvement. The dial is low-contrast, the numerals are not always easily distinguishable, and the long counterweight on the tail end of the seconds hand makes it difficult to read the time at a glance. All in all, the J12's design features -- like the broad bezel and luminous elements -- are of the type typically seen on a divers' watch, but to achieve a well-balanced design, these details are used more playfully than functionally here. For example, the bezel isn't calibrated with individual minute markings, as it would be on a divers' watch. The polished titanium-ceramic case with brushed steel back is solidly designed and very well crafted. The immovable connection between the caseback and the bracelet is unconventional: only the upper part of the case can be removed, along with the movement, when the watch is opened. The screwed crown is easy to grasp and turn. A convenient stop-seconds function makes it easy to set the time to the second. The watch's water-resistance, to a depth of 200 meters, is also noteworthy. Diagonally angled lugs make a harmonious transition between the case and the bracelet, which has brightly polished surfaces, which, unfortunately, are easy to smudge with fingerprints. The bracelet's endmost elements are positioned very close to the case, where they have only minimal play. Diametrically opposite the case, shiny links completely cover the tripartite sprung clasp, creating the impression of an uninterrupted bangle: nothing but a slightly wider gap is visible between the two halves of the bracelet. Chanel itself makes the special sprung clasp, which is unique in the watch industry and one of the signature features of the J12 collection. It takes a bit of practice to get used to operating this clasp, but it is extremely sturdy and cannot pop open accidentally. The watch's smooth surfaces make it very comfortable for daily wear. The combination of titanium-ceramic and steel make it not only lighter (130 grams) than an all-steel watch, but also lighter than the other J12 models in high-tech ceramic. The lighter weight enhances the wearing comfort. Chanel performs many of the steps in the watch's production in its own ateliers, but it does not produce the movement. The watch contains a non-embellished version of the familiar ETA Caliber 2892. When we tested the watch on a Witschi timing machine, we discovered only a minimal average daily gain of 2.2 seconds. However, the difference among the individual positions was rather large, a full 13 seconds. The Chromatic gained a mere one second per day in the wearing test. A price of $6,300 seems rather expensive for a three-handed watch, especially one without a manufacture movement. But the primary attraction of the Chromatic is not its timekeeping or technical complexity but the innovative material used for its case and the multifaceted chromatic effects it offers. ? February 2012 WatchTime 91

WatchTime February 2012

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CLOSE-UP Blancpain X Fathoms The original Blancpain Fifty Fathoms from 1953 here are watch executives who do most of their business behind the scenes in boardrooms and office suites. Then there is Blancpain chairman and CEO Marc Hayek, who has, over the course of his career inside and outside the watch business, become a poster boy for mixing business with pleasure. He is a gourmand who opened a restaurant, a wine lover who distributed wines, a cigar enthusiast who ran a cigar lounge. When Blancpain, the Swiss watch firm he took over in 2002, partnered with Lamborghini to create a limited-edition, racing-inspired timepiece, Hayek didn't just issue press releases and run ads; he got behind the wheel of a Lambo Gallardo racing machine with the watch strapped to his wrist, winning the GT Masters Amateur Championship last fall. When it comes to promoting his products, he's not known for doing things small. The latest evidence came in October, when a group of journalists gathered in front of the Dubai Aquarium and Underwater Zoo at the Dubai Mall to witness the introduction of Blancpain's new concept watch, an "extreme" divers' model called the X Fathoms. Hayek, an avid deep-sea diver as well as motorsports enthusiast, plunged into the water and settled next to a submerged watchmaker's workbench, surrounded by sharks, stingrays and other undersea fauna, after which Italian free diver Gianluca Genoni joined him in the aquarium, paddling down to the workbench to present him with the X Fathoms prototype. It was a suitably flashy debut for a watch that is sure to generate buzz among both divers and watch aficionados, and Hayek hopes that its signature function, an innovative mechanical depth gauge, will put Blancpain back on the short list of companies known for trendsetting technology in the increasingly crowded and competitive arena of professional-grade divers' watches. AS MOST WATCHOPHILES know, Blancpain first staked its claim to divers'-watch history in 1953, with the introduction of the now-legendary Fifty Fathoms, conceived as an underwater timepiece for France's elite navy divers. The first Fifty Fathoms included several features that, at the time, were revolutionary: large luminous numerals and indices for greater underwater legibility; a bezel with minute markings that rotated in one direction to prevent the wearer from inadvertently miscalculating his dive time; automatic winding to reduce the number of times the crown would be pulled out and thus minimize wear on the waterproofing system; a double "O"-ring to enhance water-resistance; antimagnetic protection for the movement and, of course, a case that resisted water pressure to 91.45 meters (50 fathoms), the feature that gave the watch its name. It actually preceded the Rolex Submariner and Omega Seamaster, two other iconic divers' watches that are better known than the Fifty Fathoms. Blancpain's watch was a hit with its intended audience: the navies of Spain, Israel, Germany and the United States all followed the French in ordering Fifty Fathoms watches for their diving units. The watch earned mainstream popularity shortly thereafter, when celebrity ocean explorer Jacques Cousteau wore one in his Oscar-winning undersea documentary, The Silent World. However, when Blancpain went into virtual dormancy in the 1970s, a victim of the quartz crisis, the Fifty Fathoms went with

The orange- and blue-tipped hands record depth on their respective colored scales. Blancpain CEO Marc Hayek poses with the X Fathoms prototype watch in front of the Dubai Aquarium. it. Blancpain, which resumed full operations in 1982, didn't bring it back until 1997, with little fanfare, as part of a trilogy of "sea, air and land" watches. In 2003, the 50th anniversary of the first Fifty Fathoms, Blancpain got serious about reviving it, producing a limited-edition model that was snapped up by eager collectors. To meet the unexpected new demand, Blancpain launched the new Fifty Fathoms collection in 2007, which now includes a tourbillon and a chronograph model as well as several retrostyled limited editions. It has become the third of Blancpain's streamlined trio of "families," along with the classical Villeret and the avant-garde L-Evolution. Hayek sees the X Fathoms as the next generation of the original Fifty Fathoms. Like its predecessor, the new watch uses the most modern technology available to create functions that are of practical use to divers -- though he points out that, while the Fifty Fathoms was designed as a military tool, the X Fathoms is intended as a commercial product for the sport of diving. He is also aware of what serious divers have had to say in the past about watches with depth gauges: namely, that they are redundant because of the other equipment, such as a dive computer, that a diver always carries with him. "A watch will never replace a dive computer," Hayek told WatchTime in an interview in Dubai, "but I wanted something simpler than a dive computer that would still be useful. It's like with a chronograph: most of the time you're just using it to time your three-minute egg, but the spirit still has to be there, the usability still has to be there. What's important is that it has enough readability and precision that a diver can use it." THE X FATHOMS is not the first mechanical divers' watch to include a depth-gauge function. In 1999, IWC introduced the Deep One model, the first in its Aquatimer divers' watch collection to include a depth gauge. It used a hollow, narrow cylinder, open at one end and closed at the other, called a Bourdon tube. The watch was designed so that water would enter the open end and cause pressure, straightening the tube and causing it to move a geared hand on the dial that recorded the depth, to a maximum of 45 meters. IWC even included in the watch's packaging an air pump that the owner could use to test the Bourdon tube before going into the water. The Aquatimer Deep One proved to be difficult and expensive to produce; only about 100 were ever made, and the remaining pieces are collectors' items. When IWC relaunched its Aquatimer line in 2010, one of the featured models was the new Deep Two, with a re-engineered mechanical depth gauge. This one used a pressure metering system inside the crown, in which water would enter through tiny holes and press against a spring that pushed a shaft toward the interior of the case, activating a system of levers that moved two indicators on the dial, one that showed current depth (i.e., moved up and down with the divers' position) and the other that showed maximum depth (remained static at the deepest point reached on the scale). This watch measured depth to 50 meters. Panerai, a company renowned for its divers' watches, has only one with a depth gauge, the Luminor 1950 Submersible Depth Gauge, launched in 2007. Prioritizing safety and accuracy over technical complication, it uses an electronic module February 2012 WatchTime 95

CLOSE-UP Blancpain X Fathoms THE LIQUIDMETAL MEMBRANE MAKES THE DEPTH GAUGE VERY PRECISE, TO PLUS OR MINUS 30 CENTIMETERS FOR THE FIRST 15 METERS OF DEPTH. SPECS BLANCPAIN X FATHOMS CONCEPT WATCH Manufacturer: Blancpain SA, Le Rocher 12, Le Brassus, Switzerland Reference number: 5018-1230-64 Functions: Hours, minutes, seconds; mechanical depth gauge; depth indication on two scales, maximum depth memory with secured reset pusher; retrograde five-minute counter; decompression valve Movement: Blancpain Caliber 9918B, based on Caliber 1315, automatic; diameter = 36 mm; height = 13 mm; 44 jewels; silicon balance spring; 385 components; 120-hour power reserve Case: Satin-brushed titanium with sapphire crystal; solid caseback with amorphous Liquidmetal membrane; unidirectional bezel; water-resistant to 300 meters Strap and clasp: Injected rubber strap with 14 articulated parts, titanium buckle Dimensions: Diameter = 55.65 mm; height = 24 mm Price for production models has yet to be determined. rather than an entirely mechanical system. A lithium battery operates the system, which measures depth down to 120 meters and, like the Deep Two, "memorizes" the maximum depth reached. The benefit of using such an electronic device is that the maximum tolerance of its depth measurements is a minuscule 20 centimeters. Finally, there is Jaeger-LeCoultre's Master Compressor Diving Pro Geographic, in which the company used a concept similar to the one that powers the automatic winding of its Atmos clocks to operate a mechanical depth gauge. The Atmos clocks have gas capsules that expand or contract with the slight variations in air temperature to wind their mainsprings. The watches use a membrane with a metal head that responds to water pressure (rather than air pressure) and transmits power to a depthgauge pointer on the dial; this mechanical system records depths down to 80 meters. The Blancpain X Fathoms, which measures 10 meters deeper than the Jaeger-LeCoultre watch, also uses the so-called "membrane deformation" system, but it adds a new element that the company says greatly increases its accuracy -- Liquidmetal, an amorphous substance developed by a team at the California Institute of Technology. An alloy of zirconium, titanium, copper, nickel and beryllium, Liquidmetal, despite its name, is solid at room temperature and is known for its high tensile strength (harder than similar alloys of titanium or aluminum), resistance to wear and corrosion, and low softening temperatures similar to those of plastic, which means it can be more easily cast into shapes. The material was first used in commercial applications in 2003, such as golf clubs, skis, USB flash drives and cell phones (including Apple's iPhone 3G); it's even been used for solar collector plates on the Genesis space probe. Liquidmetal made its debut in the watch industry in 2009, on the rotating bezel of the Omega Seamaster Planet Ocean Liquidmetal Limited Edition. The alloy played a more functional role in the Breguet Réveil Musical, a chiming watch that uses a Liquidmetal membrane to amplify the richness of the chimes. Omega and Breguet, as well as Blancpain, are owned by the Swatch Group, which in March 2011 signed an exclusive license with California-based Liquidmetal Technologies, Inc. to use the substance in its watches. 96 WatchTime February 2012 Hayek, who also serves as CEO of Breguet, saw that a Liquidmetal membrane could be the answer to the seemingly insoluble problem that plagues all watches with mechanical depth gauges: the existing systems are simply not accurate enough for professional use. "It was a challenge; it took a long time to find the right material for the membrane," he says. "We tried a lot of different materials and even different systems. But after working with the Liquidmetal on the Breguet Réveil Musical, we realized that it could be perfect for this project, which we had been working on for four years. It was exactly what we were looking for." Because the Liquidmetal has an amorphous rather than crystalline structure, it is more elastic and more resistant to permanent deformation than steel or other conventional metals. A membrane made of Liquid-

Water enters the case through the honeycomb mesh to activate the depth gauge. metal can be half as thick as one made of steel. When water enters the case through the honeycomb mesh on the sides and back of the titanium case, it presses on the membrane and activates a rack-and-pinion system with asymmetrical toothing, which straightens the curve of the membrane deformation. The result is a depth gauge that is exceptionally precise, to plus or minus 30 centimeters (only 10 more than Panerai's electronic depth gauge), for the first 15 meters of depth. The X Fathoms's depth gauge uses three center-mounted indicator hands that point to two scales on the dial. As the diver descends, all three hands begin to move. The blue-tipped hand sweeps along the 0-15 meter scale, which is in blue type (except for the 3, 4, 5 and 6, which are in orange), along the outer periphery of the dial. The orange-tipped hand and the small red- tipped hand simultaneously move along the inner 0-90 meter scale, in orange type. When the ultra-precise 15-meter hand reaches the end of its scale, the other two hands continue moving until the maximum depth is reached, at which point on the scale the red-tipped hand remains stationary, "memorizing" the measurement for the maximum depth. The 15-meter and 90meter indicators then move in the opposite direction, back toward zero on their respective scales, as the diver ascends toward the surface. The other useful function for the surfacing diver is the retrograde five-minute counter, operated by a pusher at 10 o'clock, whose intended purpose is to time decompression stops to prevent the onset of the bends. Essentially, when the 15-meter hand moves counterclockwise from the blue numbers to the orange ones on the outer scale, it reminds the diver to begin his February 2012 WatchTime 97

CLOSE-UP Blancpain X Fathoms Hayek, in his diving suit, demonstrates the watch's capabilities inside the Dubai Aquarium. decompression stops by manually activating the counter. Hayek believes that among all this watch's functions, this one may be the most practical for diving. THE MOVEMENT in the X Fathoms is Blancpain's Calibre 9918B, based on its manufacture Caliber 1315, which powers several models in the modern Fifty Fathoms collection. Other than the depth gauge mechanism, which Hayek describes as not really a module but a sort of transitional mechanism between the case and movement, the only significant addition to the base movement is the silicon hairspring, which helps to shield the inner workings of the watch from magnetic fields. The movement has three barrels, for an impressive five-day power reserve. The watch's hulking 55.65-mm case is made of satinbrushed titanium. The unidirectional rotating bezel, a hallmark of the Fifty Fathoms, is made of sapphire. And, as one would expect, other divers' watch features are present, as well: a screwdown crown, a helium-release valve at 8 o'clock protected by a hinged crown protector, and a matte black dial with big, luminous elements in three distinct colors. Because of the necessity of water entering the case to activate the depth gauge via the Liq98 WatchTime February 2012 uidmetal membrane, the case is designed as, in Hayek's words, a "case within a case," with the inner structure being water-resistant to 300 meters. The unusual strap, made of injected rubber and composed of 14 articulated parts, was designed with two functional necessities in mind: it had to be attached in a way that would allow water to easily enter the case and it had to aid in making such a huge watch comfortable to wear, even for those with smaller wrists. Those who might be interested in placing an order for the X Fathoms are, however, advised to be patient. It is still technically a concept watch and a release date and price for serially produced models have yet to be announced. But while production will be in small quantities -- maybe 50 pieces per year -- the Blancpain CEO intends for the extreme divers' watch to become a permanent part of the collection, perhaps as soon as this year. "To me, it was important to do something new for the Fifty Fathoms line that was more than just changing the color," he says. "It will take a lot of time to produce them; each watch will be individually adjusted for depth gauge precision, and it has to be 100 percent. We won't start saying that 50-centimeter precision is good enough. I don't want to take shortcuts; I want this watch to be special." ?

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Mido's Commander Chronometer has a vintage look and a COSCcertified movement. We take a closer look at the modern version of this 50-plusyear-old model. BY MARTINA RICHTER PHOTOS BY ZUCKERFABRIK FOTODESIGN D CE AN AN M M M R O O C F ER P 100 WatchTime February 2012


CLOSE-UP Mido Commander Chronometer The Commander has a Hesalite crystal inscribed with the Mido logo. he Mido Commander, originally called the Ocean Star, made its debut more than 50 years ago, but the watch's classic, timeless design has changed very little. Many of the watch's technical features, including the monocoque (one-piece) case and the special "Aquadura" cork sealing system for the crown, were used in earlier versions. The modern collection, however, now contains some models, like the one we review here, with COSC-certified chronometer movements. And in the Milanese-meshbracelet versions of the watch, the bracelet has been integrated into the case. Before slipping this watch onto your wrist for the first time, you'll need to adjust the two-part folding clasp on the bracelet. The bottom part has little notches on its underside that help it click into place when the wearer sets the length. (Despite the notches, it slides quite smoothly.) The upper part of the clasp can be inserted into the bottom part and flipped shut. Another bow ensures double security, and the construction as a whole guarantees that the watch fits neatly around the wrist. The supple, stainlesssteel bracelet is designed so that even if the adjustable end of it extends very far,

The Commander's movement is the automatic ETA Caliber 2836-2. The modern-day Commander looks much like its precursor of 50 years ago. the other end will overlap it so that it's out of sight. Once fitted properly, the bracelet hugs the wrist comfortably: no pinching or pressing. The bracelet is joined to the case by a special component that makes the bracelet especially secure. The disadvantage of this is that it's not very easy to remove the bracelet and replace it with another. Mido also offers the Commander Chronometer with a gold case and in strap versions. Viewed from the side, the case looks a little like a UFO. Its back is slightly convex; a Hesalite crystal covers the dial. When Mido introduced this type of monocoque case on the Ocean Star in 1959, it was regarded as revolutionary because it eliminated the problem of making the caseback water-resistant. As its name suggests, a monocoque case is made from a single piece of metal without a removable back cover. (Coque is French for "shell.") The absence of a removable back means that the movement must be inserted from above, and if a watchmaker ever needs to refurbish or repair it, he must first remove the crystal, the hands and the dial. The winding stem is divided into two parts so the movement can be lifted out of the case, and returned to it, from above. The outer part of the winding stem can be removed along with the crown. The crown itself is very small -- only 4.5 millimeters -- and fits into an indentation on the flank of the case. When the crown is pushed in all the way, it essentially disappears into this indentation. This protects the crown and enhances the watch's appearance, but it makes the crown harder to use. You need strong fingernails to pull the crown out into its other positions -- for quickly adjusting the date and day displays and setting the hands -- and the job is somewhat clumsy. Winding the watch is also a challenge: you can't get hold of the crown, so you can only attempt to roll a fingertip along its rim. The watch is an automatic; it pays to wear it as often as possible so you will seldom need to wind it manually. SPECS MIDO COMMANDER CHRONOMETER Manufacturer: Mido AG, Chemin des Tourelles 17, 2400 Le Locle, Switzerland Reference number: M84294C111 Functions: Hours, minutes, seconds, date and day Movement: ETA 2836-2, automatic; 28,800 vph; 25 jewels; Glucydur balance; flat Nivarox hairspring; Incabloc and Nivacourbe shock absorbers; Etachron fine adjustment; diameter = 25.6 mm; height = 5.05 mm; decorated with Geneva waves and satin-finishing; blued screws; COSC-certified chronometer Case: 316L stainless steel, Hesalite crystal, water-resistant to 50 meters Bracelet and clasp: Stainless-steel Milanese bracelet with stainless-steel safety folding clasp Rate results (Deviations in seconds per day, fully wound/after 24 hours): Dial up Dial down Crown up Crown down Crown left Greatest deviation Mean amplitude Flat positions Hanging positions 295° 280° 297° 267° -1.0 +1.0 +1.0 +2.0 0.0 3.0 -4.0 +1.0 +3.0 +1.0 0.0 7.0 Dimensions: Diameter = 37 mm; height = 11 mm; weight = 80.5 grams Variations: Leather strap Price: $850 February 2012 WatchTime 103

CLOSE-UP Mido Commander Chronometer The clasp is quite reliable. One part can be adjusted, while the other folds in and is secured by a bow. Pros + Classic, clean design + Comfortable mesh bracelet + Easy to read in daylight and darkness + Rate results worthy of a COSC certificate Cons - Standard movement - Crown is difficult to operate Ever since the Commander debuted as the Ocean Star in 1959, Mido has used a sealing system that fits almost seamlessly around the winding stem and prevents water from entering the case, even when the crown is pulled out. This system, known as Aquadura, was first developed in 1934, but wasn't used until the Ocean Star's debut. The material used for the Aquadura system is bark from the cork oak, which is finely ground, then pressed together with special glue and, finally, impregnated with sealing grease. Mido carefully guards the details of this special treatment, which gives the cork a slightly moist consistency that preserves its natural ductility and longevity. A cork seal lasts much longer than a rubber one. The Commander's case is closed on the top by a crystal made of Hesalite glass, a type of acrylic glass similar to Plexiglas (both are manufactured from polymethyl methacrylate) but harder. The disadvantage of watch crystals made of acrylic (rather than sapphire) is that they are more susceptible to scratches, but the advantage is that they can be polished easily. Minor scratches can be treated with a special substance that slightly dissolves the surface of the crystal. If you apply this substance with a soft cloth, allow it to remain briefly on the surface and then gently polish the surface with the same cloth, the crystal will look as good as new afterward. Furthermore, crystals made of acrylic glass weigh less and are relatively resistant to shocks and blows. For water-resistant watches like the Mido Commander, they're given a so-called "armoring," which means that the base of the crystal is encircled by a metal ring that prevents it from shrinking or deforming due to pressure or heat. The high-rising and slightly curved crystal, together with the sleek case, means the dial can be quite large: 34 millimeters in diameter. Thanks to its size and its simple design, it is easy to read. It is silver-colored and adorned with a sunburst finish. There are a dozen applied indices. Their black center sections contrast sharply with the indices' shiny, sloping facets and with the dial's matte surface. 104 WatchTime February 2012

The hour and minute hands have black lines, interrupted by Super-LumiNova inlays, running down their middle. This makes reading the time easy even in poor light because the two hands gleam quite impressively, as do the 12 dots on the flange around the dial's perimeter. The flange is also marked with black indices for minutes and seconds, although they are relatively inconspicuous under the edge of the crystal. Using a watchmakers' loupe, you can see that they have been meticulously placed. The loupe also reveals several other fine details, such as the reflection of the Mido logo, (inscribed on the inside of the crystal) on the shiny hands. Except for the seconds hand, which is tapered, the hands have an unmistakable, block-like shape that echoes that of the indices. Although the hands aren't quite as wide as the indices, they give the dial a kind of visual unity. The tip of the minute hand ex- tends almost to the inner edge of the applied indices. The tip of the hour hand ends at the date window so it never eclipses it. The minute hand and seconds hand are the same length. A framed window at 3 o'clock displays the day of the week (in a choice of two languages) and the date. The watch contains ETA's Caliber 2836-2. The watch's rate deviated by less than half a second in the course of two full weeks. It performed similarly well on the timing machine: in the individual positions, the watch ran between -4 and +3 seconds, and it ran slightly slower after it had been running for 24 hours than it did when its mainspring was fully wound. It did, however, consistently lose time in the "dial up" position, a slight blemish in the otherwise impressive rate picture. The watch's chronometer status is denoted on the dial by an applied "Chronometer" label at 6 o'clock. The The crystal and caseback are slightly curved. manufacturer's name appears at 12 o'clock and also on the crown and the back of the case. The name "Mido" is derived from the Spanish phrase yo mido, which means, "I measure." And this Mido measures very well indeed.

INTERVIEW Patek Philippe's Sandrine Stern Sandrine Stern next to an image of the Ladies First Minute Repeater in rose gold 106 WatchTime February 2012

A conversation with Sandrine Stern, Patek Philippe's design director and wife of CEO Thierry Stern BY MARIA-BETTINA EICH Doyenne ecently, WatchTime caught up with Patek Philippe's design director Sandrine Stern to ask how she dresses the brand for success. Here's our interview with her. WT: Tell us about your career so far at Patek Philippe. SS: When I began at Patek Philippe in 1995, I worked in the department that handled exhibitions. Afterwards, I became involved with sales and worked briefly with our product director. I joined the design department in 1998, first as an assistant. I'm very interested in aesthetics, so I immersed myself more deeply in the field of design. We were a team of only three people at that time, compared to our current team of nine. After a while, I became particularly involved in ladies' watches. Today, my team and I are responsible for the entire collection: both gents' and ladies' watches. WT: Is each member of your team involved with both men's and women's models? February 2012 WatchTime 107

INTERVIEW Patek Philippe's Sandrine Stern SS: Yes, and this dynamic is important to me. I want to spark designers' enthusiasm for both fields. WT: Can you describe the process of developing a new watch at Patek Philippe? SS: The original idea comes from a product committee. Our department is part of that group, along with the brand's managers. We always start with the movement: either a pre-existing movement that will undergo modification or a new movement that we plan to launch. We determine which groups of products need to be augmented and which ones are already strong, or whether we want to establish an entirely new collection. Our committee plans new items for the coming year and beyond. After each meeting, I take all the information to my department and distribute the work among the designers. Then we begin making design sketches. Everything we do starts with hand-drawn sketches. We first work out a series of sketches, which we present to my husband, who gives us his initial reaction about which direction we should follow. After we've found the basic shape for the watch, we move to the computer, where we can try out various colors and study various details -- for example, the hands -- and change them. Until this point, the watch has been two-dimensional; one cannot yet reach out and touch it. During the next phase, we create something you take into your own two hands. Our team includes a design engineer who transforms two-dimensional sketches into three dimensions. The result is a model made of artificial resin. It may not look very sexy, but you can put it on your wrist and get a sense of the watch's proportions. We can quickly and easily change its shape and size by making new variations. We then show this model to my husband and to our sales and marketing director. If they decide in favor of the de- sign, a full-fledged watch model is built -- using the actual case metal and with a real dial. We can put a movement inside this model, but it isn't yet functional. That's why we don't yet call it a "prototype." If the decision is made to produce this design, then the case is perfected. This involves refining its interior and working on features like water-resistance. Finally, we build the prototype, which undergoes many tests before the production phase begins. We create all the designs on our own premises; we don't work with external designers. All products from Patek Philippe, including our grand complications, are conceived in our own design department. WT: You said the movement comes first. How would you describe the relationship between technology and design at Patek Philippe? SS: The movement is "square one." In order to design a watch, we first need to know which movement it will ultimately contain. Developing a movement takes significantly longer than developing a case, and that's why the process begins with the movement. WT: What are your most important sources of inspiration? SS: On the one hand, I'm influenced by everything we hear from our various markets. My husband travels frequently; he visits Patek Philippe dealers and consumers. Their desires and opinions are a source of inspiration for us. Another important impetus comes from our museum. We visit it regularly and we're very familiar with the pieces on display. And naturally there are also ideas that come to us spontaneously. Perhaps something catches our eye -- a shape, a material or something like that. WT: You design watches for both men and women. Do you use different approaches for each gender? SS: The basic method is the same for both. We want to make the most beautiful watch, whether it's for men or for women. We want it to be a high-quality and aesthetically appealing timepiece. We're constantly searching for new tech- A design-department sketch of a Nautilus model 108 WatchTime February 2012

A Journey Through Time At over 800 pages, with more than 6,600 illustrations, this is one of the most comprehensive works ever published about a watch brand. Devoted entirely to the evolution of Omega's watches, from the late 19th century to the present day, its pages come to life with reproductions of numerous watch advertisements that echo the color, feel and flavor of their time. The book is ideal for collectors, who will find info on all their favorite Omega models. Prefaced by Nicolas G. Hayek and written and designed by Marco Richon, curator of the Omega Museum, it is organized like a structured catalogue: divided into 12 chapters, preceded by a brief history of the company and followed by a complete list of calibers. Omega TABLE OF CONTENTS Omega Saga in Summary 1. Sister Brands 2. Pocket Watches 3. Wristwatches 4. High Precision 5. Official watches 6. Automatic 7. Seamaster and Divers' watches 8. Constellation 9. De Ville 10. Specialties 11. Chronographs, including Speedmaster 12. Creation Calibers Omega - A Journey Through Time 832 pages, 10" x 12", 6,625 illustrations (70% in full color and most never before published), cloth binding with a laminated dust jacket. US $360 (incl. shipping + handling) All Orders: Toll-free in the U.S. and Canada: 1-888-289-0038 International Orders: +1-973-627-5162 Fax: +1-973-627-5872 email: custsvc_watch@fulcoinc.com

Ref. 5170 with hand-wound Caliber CH 29535PS ones, are becoming more important for women? SS: Women are taking a greater interest in complicated watches nowadays, and also in simpler hand-wound and self-winding watches. Many of these women live with men who are watch collectors. It's a learning process: as a woman's understanding of watches grows, she asks herself why she shouldn't wear a watch that's as technically interesting as those her husband wears and collects. WT: Last year, Patek Philippe presented two more complicated watches with the name "Ladies First": a split-seconds chronograph and a minute repeater. You were instrumental in the development of both watches. What ideas motivated you in those cases? SS: The main idea was to create a grand complication that a lady could wear, but which wouldn't immediately reveal itself as a complicated watch. We wanted to design a watch that's simultaneously unconventional and discreet. We also wanted a watch that a woman could wear with a pair of jeans. Furthermore, people often talk about watches as heirlooms that are handed down from father to son. Thanks to their classic but contemporary design, the Ladies First watches are perfect for a mother to hand down to her daughter. A design that will look outmoded in a few years wouldn't be appropriate. nical ideas for the cases, and we're always evolving in this field. The only difference between our ladies' and our men's watches is that men's watches more often involve horological complications. WT: With the Ladies First Chronograph, Patek Philippe presented its first inhouse, manual-wind chronograph movement that was conceived for serial manufacture. Surprisingly, this eagerly anticipated movement was initially used in a watch for women. Why? SS: It was my husband's idea. We wanted to show that we take ladies' watches just as seriously as men's watches, and that women are every bit as important to us as men. WT: Do you have the impression that mechanical watches, including complicated 110 WatchTime February 2012 WT: You're particularly interested in ladies' watches. What features do you associate with a watch for women? SS: Personally, I like a watch that appeals to me visually and is also comfortable to wear. I want to feel that my watch is lastingly beautiful. I want to be able to wear it on many different occasions -- for sports, as well as for going out. I prefer watches with designs that aren't glaringly eye-catching. I want every detail to be well conceived and flawlessly realized. One should be able to look at the watch from all sides and say, "The manufacturers have done a really good job here." I want to be proud of the watch that I wear. WT: Which is the leader model in your current collection for women? SS: The Twenty-4 remains the leader, followed by the Nautilus in second place. Those are two very different watches. I've been wearing my Twenty-4 for more than 10 years -- for sports, in the evening, with jeans or on holiday. It's never uncomfortable on the wrist, and I regard that as very important. Its quartz movement helps ensure that its wearer is always punctual, and that's not a bad trait for a woman. The Twenty-4 is a model that never grows old. Its size and style are still contemporary, as are its colors and dials. WT: What are your most important projects for the future?

as beautiful without gemstones as it is with them. For me, it's important that the design work well without diamonds. If it can do that, then it will surely work even better with diamonds. WT: What significance do watches have in your life? SS: I've worn a wristwatch ever since I was a little girl and I cannot live without one. Day and night, I must always be able to read the time from my wrist, despite having devices like cell phones. That's always been important to me. Being a jeweler's daughter means that I've been familiar with the world of watches and jewelry ever since earliest childhood. This world is in my blood. WT: Which watch do like to wear most? SS: I live between Twenty-4 and Nautilus. Perhaps that's because I was involved in the development of both. They're my favorite watches right now, but someday I'm hoping for a world-time watch for women. The Ladies First Split-Seconds Chronograph with diamonds SS: The goal for my department is to expand the segment of ladies' watches. Watches for women comprise a very important market. As I said, many women are cultivating an interest in horological complications. We want to be able to offer a broad spectrum of watches for ladies. We currently produce 70 percent men's watches and 30 percent women's watches. WT: Diamonds are very common on ladies' watches nowadays. What importance do diamonds have in your designs? SS: Many people are fond of diamonds, but what's important for us is how the stones are used. In all honesty, one frequently gets the impression that a watch's case has been studded with diamonds simply because its designers didn't know what else to do with it. What we want to do, on the other hand, is to create our own cases expressly for women. We don't want to simply take a men's case and adapt it for ladies. When the question is whether to use diamonds or not, my personal opinion is that the piece ought to be WT: When you create a new watch, do you have in mind a particular woman who will wear it? SS: Yes: me! And I'm very choosy! Naturally, we design watches that are tailored for particular markets, watches that I wouldn't necessarily choose for myself personally. But there must always be those wonderful moments when I slip a watch onto my wrist and say to myself, I would love to wear this watch with one outfit or another, or for a particular occasion. There's always a personal component involved. One must have a relationship to the object that one designs. WT: Do you intend to stay in the design field for the rest of your career? SS: Yes. Design allows a person to be alert and sensitive to what's happening around her. You learn something new every day. That's incredibly enriching. Our design department is closely connected to the movement manufacturing and the production departments. No one works alone in his or her own little corner. We constantly share ideas with other departments. It's always very diverse and never monotonous. February 2012 WatchTime 111

FACEtime Like father, like son: Harold Munnings, Sr. (left) in his Omega Constellation with son and doctor Harold Munnings, Jr., in his Omega Museum Collection MD's watch. Rolex enthusiast Gary Marsh, weaing a Rolex GMT-Master IIc, spends quality time with his grandson, in his Rolex Submariner. Gordon Taylor prepares for an excursion to the Great Barrier Reef in, appropriately, his Oris Great Barrier Reef Limited Edition. A bridal party of Omega lovers in Las Vegas (from left to right): Christina Oller, 1970s Omega Seamaster Automatic with day/date; Todd Spann, Omega Speedmaster; Amanda Anderson, Omega Seamaster; Brad Anderson, Omega Seamaster Co-Axial 112 WatchTime February 2012

Posing with the Larry O'Brien trophy won by the NBA World Champion Dallas Mavericks, Charles Shewmake sports his Vacheron Constantin Contemporaine Bi-Retrograde. Darren Collings enjoys a day at Grandview Drive Park, IL with his Longines Grande Vitesse and his two daughters: Miah (left) holds a vintage Longines Admiral and vintage Omega Seamaster; Madelyn, a vintage Eterna-Matic 3000 and Vintage Girard-Perregaux Seahawk. At Grand Teton Park, Richard Sweeten's Bremont MBII Orange comes in handy on his trip down the Snake River. In his New York office, Breguet enthusiast Julius Glickstein wears a Breguet Marine Chronograph and Breguet Classique with retrograde. While checking his sailboat propeller in the Adriatic Sea, Mirko Kosic sports his IWC Aquatimer Chronograph Edition Galapagos Islands. To submit a photo, please send your image to photo@watchtime.com with a short description identifying each person in the photo and the watch each one is wearing. Please give the first and last name of the wearer and the brand and model of the watch. If the photo was taken at an event, please specify when and where it was held. Only clear images in which both the face of the watch and the wearer are visible will be considered for publication. Images must be in JPEG format and no smaller than 1 MB. Only the best-quality and most interesting photos will be considered. February 2012 WatchTime 113

LASTminute By Joe Thompson The Curse of the Swiss Francenstein n November, the Richemont Group issued a glowing report for the halfyear ended September 30, with sales up 29 percent to 4.2 billion euros ($5.69 billion) and net profit up 10 percent to EUR709 million ($962 million). The Richemont results are the latest indication that, thanks to China, the Swiss watch industry had its best year ever in 2011. The spectacular surge in Swiss watch exports was one of the year's major stories, no question. But the boom camouflaged an even more dramatic, not so sunny story. It's a horror story, really: a shocking tale of how the trusty, solid Swiss franc went rogue, turning into a monster -- a Swiss Francenstein -- inflicting hardship and pain up and down the watch distribution chain. For those who don't follow the currency markets, what happened, in short, is that the debt crises in Europe and the United States drove the Swiss franc to record highs against the euro and dollar last year. When investors abandoned those currencies and fled to the safe haven of Switzerland's, the franc soared. Between the summer of 2010 and summer 2011, it rose 20 percent against the euro and 30 percent against the dollar. In August, the franc almost reached parity with the euro and the once mighty dollar fell to a lowly 73 Swiss centimes. For Switzerland's export-oriented watch industry, it was a nightmare. The uncontrollable Swiss Francenstein slashed watch-company margins and destroyed millions of francs in currency exchanges; watch sales in weak euros and dollars yielded far fewer francs for manufacturers when exchanged. (Keep in mind that the Hong Kong dollar and Chinese yuan are pegged to the U.S. dollar, so they depreciated against the franc, too.) To try to cope with Francenstein's super strength, watch companies cut retailer margins and raised prices. Watch aficionados are still howling about the fact that Patek Philippe and Audemars Piguet raised prices three times last year. Vacheron Constantin, pacted gross sales by SF387 million or -12.8 percent versus 2010." Richemont reported a loss of EUR153 million ($207 million) in "non-cash mark-to-market currency losses on net financial assets as a result of the stronger Swiss franc against the euro." In a five-page financial review of the first half of its fiscal year, Richemont, whose currency is the euro, referred to "the negative impact of the stronger Swiss franc" seven times. In September, in a bold bid to tame the beast, the Swiss National Bank announced that it was setting a ceiling for the Swiss franc against the euro at SF1.20. The move to weaken what the central bank called "a massively overvalued" Swiss franc stunned financial markets. The bank said it was designed to bring some relief to Swiss exporters howling for help (Swatch Group CEO Nick Hayek was a leader of the chorus) and to avoid triggering a recession. As I write in early December, the move has brought some relief. The franc has fallen from the egregious highs of summer. Swiss financial analysts say it is still overvalued; a true rate would be around SF1.35 against the euro. And, in truth, when you're in Switzerland, you still feel Francenstein's menace. In early November I bought francs with my measly U.S. dollars at a UBS currency exchange booth at Zurich airport and got 0.835 francs per dollar. In the watchmaking region, I stayed in a small hotel off the beaten track. A cup of coffee there cost SF3.60. My daily two-coffee breakfast came to $9. Fall to the temptation of the croissant resting deliciously on a nearby plate and you're into double figures. One sensed that Francenstein was still perilously on the prowl. ? EVERY ONE-CENT DROP IN THE VALUE OF THE DOLLAR AGAINST THE SWISS FRANC COSTS THE SWATCH GROUP SF34 MILLION IN SALES. Cartier and others had two price increases. Overall, U.S. price hikes for the year ranged from 10 to 30 percent. You get some idea of the extent of Swiss Francenstein's damage through data issued by Switzerland's few public watch companies. According to the Swatch Group, each one-cent drop in the dollar against the franc cuts sales by SF34 million ($41 million). Little wonder that, in its six-month financial report issued last July, the group sounded the alarm about the franc: "The strength and volatility of the Swiss franc have to be considered as extremely dangerous for Switzerland," it said. It was certainly damaging for the group. "The continuing overvaluation of the Swiss franc, in particular against the USD and the EUR, adversely im- 114 WatchTime February 2012

The World's Premier Watch Auctioneer OUTSTANDING AUCTION RESULTS LA COLÈRE D'ACHILLE Att. to James Cox. Gold, silver, ivory, enamel, diamond, ruby, emerald and agate-set fan, made for the Chien Lung Imperial family (1711-1799), of the Ching Dynasty. Sold for US$ 773,000. ROLEX, «Two Americas» Rolex, Oyster Perpetual, Ref. 6284 in yellow gold. Sold for US$ 723,500. PATEK PHILIPPE, Ref.1436, retailed by Tiffany & Co, yellow gold wristwatch with split second chronograph. Sold for US$ 284,500. PATEK PHILIPPE, Unique Ref. 2419, retailed by Cartier, yellow gold wristwatch with minute PATEK PHILIPPE, Unique Ref. 3939 in stain- repeater. Sold for US$ 710,500. less steel with minute repeater, sold during the Only Watch charity sale. Sold for US$ 1,892,430. PATEK PHILIPPE, full 24-hour repeating, quarter and special-type five-minute repeating pocket watch. Sold for US$ 2,291,000. PATEK PHILIPPE, Ref. 2499, pink gold wristwatch with perpetual calendar and chronograph. Sold for US$ 1,174,209. 2012 Auction Calendar of Important Modern and Vintage Timepieces Consignment dates U Hong Kong, Sunday February 26th U Geneva, Sunday March 11th U New York, Wednesday April 4th U Geneva, Sunday May 19th & 20th U Hong Kong, Sunday June 2nd U New York, Wednesday June 20th U Hong Kong, Saturday August 11th U Hong Kong, Saturday October 6th U Geneva, Sunday November 18th U New York, Wednesday December 5th Antiquorum USA, Inc. The Fuller Building, 595 Madison Ave., 5th Floor, New York, NY 10022, USA Tel. +1 212 750 1103 E-mail: newyork@antiquorum.com Antiquorum Geneva SA 3, rue du Mont-Blanc, 1211 Geneva 1, Switzerland Tel. +41 (0)22 909 28 50 E-mail: geneva@antiquorum.com January 16th January 30th February 20th April 10th April 16th May 7th July 2nd August 27th October 8th October 29th Antiquorum Auctioneers (HK) Ltd. Suite 704, 9 Queen's Road, Central, Hong Kong Tel. +852 2522 4168 E-mail: hk@antiquorum.com WWW.ANTIQUORUM.COM