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This week on The Business of Watches an extended chat with a duo whose business is watch market data. Charles Tian is the founder and Chief Executive Officer of WatchCharts.com and Hamza Masood is the head of business partnerships at the U.S.-based company.  They're both longtime technology executives who have turned a passion for watches into a business. That venture is WatchCharts and it gathers and analyses secondary market watch prices to show demand trends, price movements and the relative health and desirability of brands and luxury groups in the sector. Its customers include retailers, watch dealers, collectors and brands.  With the U.S. investment bank Morgan Stanley, WatchCharts data is used to produce in-depth reports four times a year on the state of the secondary market. The report for the third quarter, published in mid-October, shows the fifth straight quarter of overall market gains of more than 1%, suggesting stability and recovery. Still, the growth is slowing and is the weakest since mid 2025. And while the gains are more widespread among watchmakers, with prices for 28 of 35 brands tracked posting quarter-over-quarter gains, the overall WatchCharts index is still about 28% below its all-time peak, a record hit in the post-pandemic euphoria of April, 2022.  As for outperforming brands, the usual suspects of Patek Philippe, Audemars Piguet and Cartier continue to set the pace. A. Lange & Sohne prices along with Tudor and Vacheron Constantin are recent stand outs and Rolex is still, by far, the biggest factor on the secondary market, even as the mighty Crown shows signs of demand leveling off while inventories reach record highs. As geo-politics continue to add uncertainty to the market for pre-owned watches, can the gains keep coming and who's most vulnerable if demand takes a dip?  Show Notes:  0:51 WatchCharts.com (website) 1:04 Charles Tian blog posts on WatchCharts.com  1:10 Hamza Masood blog posts on WatchCharts.com  2:19 Luxury Watch Prices Rise Again, But Record Inventory Clouds The Outlook (Forbes)  6:22 WatchCharts Rolex Market Index  7:10 $2K to $5K Watch Market Index  (WatchCharts)  8:25 Vacheron Constantin Index  (WatchCharts) 10:07 A. Lange & Sohne Index (WatchCharts)  13:25 F.P. Journe Watches: Prices, Rarity and Why Collectors Chase Them (NYU Ed - possible AI content)  13:40 F.P.Journe Élégante (Journe website)  14:41 Girard-Perregaux Laureato Collection  15:20 This episode is brought to you by Watches of Switzerland. Listeners get $200 off a first order of $1,000+ on full-price items with code HDKPOD-Holiday-200 (case-sensitive) at checkout. Click here to shop the promotion. US only. Online only. Valid through 1/4/27, while supplies last, and subject to availability. Cannot be combined with other offers. Exclusions apply. See full terms at watchesofswitzerland.com. 20:30 Everywatch.com  20:48 Chrono24 Chronopulse  23:41 Fungibility definition (Wikipedia)  25:32 WatchCharts Q1 Market Report  28:40 Business News: Independent Watch Retailer Collective Horology Sues Trump And Administration Over New Tariffs  31:40 What Does AI Mean For The Watchmaking Industry (Watches and Wonders 2024 - YouTube)  35:01 WatchCharts Value Retention  41:53 Hands On: The Tudor Northflag (Hodinkee)  44:50 IWC (Website)  48:02 Editor's Picks: Our Favorite Pilot Watches (Hodinkee) 50:22 WatchCharts Full Year Report 2025 including impact of price of gold analysis   54:30 Rolex Certified Pre-Owned (Watches of Switzerland)  1:00:18 JLC Introduces Its Second Vintage Capsule Of 'The Collectibles' (Hodinkee)  1:01:55 Business News: Rolex And Cartier Are In Another League – A Deep Dive On The Pains And Gains In Morgan Stanley's "Swiss Watcher" Report (Hodinkee)  1:08:12 WatchCharts Marketplace

This week on The Business of Watches we regroup and recount the events known as New York Watch Week. From INDIES.NYC, to the FHH Forum to WatchTime and Windup NYC, Griffin Bartsch and TanTan Wang hit the highs and lows of what is now considered the premier calendar week event in the U.S. watch world. The U.S. market's rapid ascension to top dog among timepiece destinations is fully confirmed with more than CHF 4.3 billion worth of watches being imported from Switzerland in 2025, accounting for 17% of overall Swiss watch exports. It's an elevation driven by a surge in enthusiasm and interest in the post-pandemic era with publications like Hodinkee - started way back in 2008 - laying the groundwork for a new generation of watch enthusiast, collector, and buyer.  But is the growth sustainable and is the industry catering enough to American tastes and needs? Is the U.S. market strength a fleeting diversion or is it in it for the long haul? Hodinkee editors Andy, Griffin and TanTan weigh in on the products and activations conjured by some of the world's biggest watch brands in the largest market for luxury and premium timepieces. Who's getting it right and who's missing the boat? What should brands be doing to win the hearts and minds of the U.S. watch consumer in 2026 and beyond?  Show Notes: 0:48 New York Watch Week (Hodinkee Instagram) 1:04 WatchTime New York  (website)  1:05 Windup Watch Fair New York (website)  1:07 INDIES.NYC (website)  1:20 TanTan Wang @tantantalum (Instagram)  1:21 Griffin Bartsch @cgriffinbartsch (Instagram)  1:37 NARO NYC (website)  2:38 Swiss Watch Exports To U.S. Surge In December Capping Volatile And Down Year For Industry (Hodinkee)  6:08 MB&F Lounge New York City (website)  9:35 Casa Panerai (NYC website)  10:31 Former Urban Outfitters Building In Williamsburg To Turning Into A New Members-Only Club (Greenpointers) 12:36 Gerald Genta Watches (website) 12:37 Daniel Roth (website) 14:24 Hands-On: G-SHOCK Reveals The MRG-D5000 "Blue Rose Project" In Sapphire (Hodinkee) 15:40 This episode is brought to you by Watches of Switzerland. Listeners get $200 off a first order of $1,000+ on full-price items with code HDKPOD-Holiday-200 (case-sensitive) at checkout. Shop here: (US only. Online only. Valid through 1/4/27, while supplies last, and subject to availability. Cannot be combined with other offers. Exclusions apply. See full terms at watchesofswitzerland.com.) 17:18 Introducing: Frederique Constant Manufacture Classic Perpetual Calendar Burgundy Limited Edition (Live Pics) (Hodinkee) 17:20 Introducing: The Redesigned Oris ProPilot Calibre 111 (Hodinkee)  18:15 IntroducingThe Urwerk UR-300 Time Quantum (Hodinkee)  19:54 Introducing: Ressence Type 10 DN "Dark Night" (Hodinkee) 21:20 Hands On Impressions Of The Tudor FXD GMT "Zulu Time" (Worn and Wound)   23:55 Blancpain Celebrates The 70th Anniversary Of The Ladybird Collection With The Mini "Lady B" Revival (Hodinkee) 25:19 Hands-OnThe Chopard L.U.C Time Traveler One Khaki (Hodinkee)  25:30 Introducing: Ming x Massena Lab 57.09 'Secret Honey' (Hodinkee)  26:41 Nicholas Bowman-Scargill, Founder And Chief Executive Officer Of Fears (Business of Watches Podcast) 29:06 Introducing: Stéphane Pierre Launches His Namesake Brand With The Impressive 'l'Impétrant' (Hodinkee) 29:11 Introducing: The Bradley Taylor Ardea (Hodinkee)  31:12 Dan Royter Watches (website)  31:25 FHH New York Watch Summit  40:16 A. Lange & Söhne Brings A Glimpse Of History to New York City - Photo Report (Hodinkee)  42:30 IntroducingThe Brew Metric Chrono Taxi (Hodinkee)  45:40 Windup Watchfair NYC (Sparkling PR Instagram)  48:09 Autodromo Group C Turbo Sport (Brand website)  51:05 Brew - Metric Chrono Taxi - (Brand Website ) 51:04 Kenneth Lam of Arken Watches (StandardH Podcast Youtube) 54:50 Javits Center New York (website) 56:20 Why Is Everyone Waiting Hours for Frozen Yogurt? Why Am I? (New York Times)

This week on The Business of Watches, an in-depth discussion with Nicholas Bowman-Scargill, the founder and Chief Executive Officer of Fears Watches. Nicholas has packed a lot into his 39 years. For the last decade he's been helming the brand originally founded by his great-great-great grandfather, Edwin Fears, in Bristol, England way back in 1846.  Incredibly, Bowman-Scargill wasn't even aware of the Fears brand and family connection when he decided to train as a watchmaker at Rolex in the U.K. That move into watches followed an ill-timed foray into investment banking on the eve of the Global Financial Crisis, in 2008.  By the time Bowman-Scargill restarted the brand in 2016, it had been dormant for nearly four decades. Its revival has been an exercise in business challenges that have often been met by practicing the art of project management, a skill set that he and his fellow Brits are uniquely adept at, he says. Fears has now grown to about 15 people and returned to its roots in Bristol. From flirting with bankruptcy to implementing a dress code for employees and overseeing the design and production of a perpetual calendar model, Bowman-Scargill relays the dramatic tale of how the company has survived and thrived in the crowded and competitive arena of mid-tier priced timepieces.  It's a heck of a story that offers heaps of insight for any watch enthusiast, collector or small business owner. From what he learned and has applied at Fears from his time at Rolex, to what's in the envelope that's only to be opened should he meet an unexpected demise, what kind of investors he's accepted to the family business, and how to bring that non-watch enthusiast customer to the brand, Bowman-Scargill serves up plenty of candor, wisdom and experience in this wide-ranging discussion.  Show Notes: 0:48 New York Watch Week (Hodinkee)  1:19 Bristol England (VisitBristol.co.uk)  1:35 Edwin Fear (BBC News)  3:48 List of Fears managing directors (Fears website)  5:08 The Succession Planning Gap: Real Stats on Why Family Businesses Struggle to Prepare (Kreischer Miller)  7:32 Corporate Governance (OECD)  9:36 Carp Fisher magazines (The Carp Society)  10:03 Master of the Universe - Investment Bankers (Prime Video)  10:19 The Men Who Destroyed Deutsche Bank (Der Spiegel)  10:47 The watches that bankers blow their first bonuses on (efinancialcareers.com) 12:45 Francis Bourgeois (YouTube)  14:02 Rolex Service Centres in London 17:11 Moritz Grossmann history and founding of the German School of Watchmaking (company website)  18:35 Fears Watch Company Limited (Companies House)  20:07 The First Fears Watch - The Redcliff Date from 2016  23:26 Fears Brunswick White 38  27:30 Établissage (FHH)  30:15 Mighty Mercedes Benz Models of the 1980s (Hagerty UK) 31:36 Inside Swiss Watch Manufacturing At the EPHJ (Swiss 101 Hodinkee)  35:25 The Power of Dress (Psychology Today)  42:35 Becoming a Civilian (Jason Heaton SWIMPRUF)  42:53 Meet the Fears Garrick (Worn & Wound)  48:02 British Watch & Clock Makers Alliance  48:25 What Really Happened to the Costa Cruises' Costa Concordia (Cruise Critic)  49:50 What is a Project Manager? (Project Manager YouTube)  55:20 What is cash flow and how do you manage it? (British Business Bank)  58:20 Chargeback Fraud: How It Works, Common Types & How To Prevent It (Unit21.ai)  58:46 Being Fearless: The First Ten Years of Rebuilding a Watch Company by Chris Hall with Foreward by Mike France (Waterstones)

Is there room for another watch show? Is there demand? Is Las Vegas the ideal place to bring thousands of watch collectors together for a weekend of horological themed fun, discussion and entertainment?  The folks behind The Escapement  are saying an emphatic yes to all of the above. They're putting on a new watch event in Las Vegas in 2027 running February 5-7 and they believe collectors and enthusiasts are primed for a fresh, in-depth and upgraded take on the watch meetup.  Texas-based Neeshu Hajra is an enthusiastic watch collector who has decades of experience in the events business. Now located in the Middle East, Faheem Khan spent most of his career in the energy industry in London and now writes and curates the popular watch, philosophy and psychology driven Substack blog ScrewDownCrown. He's also the irreverent voice behind @kingflum on Instagram. Together, they're planning and organizing The Escapement with help from a few other big names in the industry that we dive into during the episode.   We discuss what makes meetups work and why they had to pull plans to hold the inaugural edition of the event in Abu Dhabi and move to a more conventional location in Vegas where they hope to attract some 5,000 general admission ticket buyers and 750 VIP ticket clients.  There's been some skepticism from industry naysayers as to the need and potential of the event. WatchPro's editor said the original gathering planned for Abu Dhabi gave him "Fyre Festival vibes," recalling the island music and entertainment party promoted by social media influencers that was the subject of dueling documentaries on Netflix and Hulu detailing its troubled outcome.  During a wide-ranging interview, Hajra and Khan tell us how they're staging and financing this first show and why they believe the event, with industry notables including Rexhep Rexhepi and Eric Ku slated to speak and with brands attending ranging from Atelier Wen to Biver to Daniel Roth to Greubel Forsey to Lang & Heyne and Ming, will tell brand stories in a fresh new way, making the event a success with further editions for years to come. Show Notes: 1:23 Nishu Hajra and The Trade Group (Exhibtor Online)  1:32 Comic-Con International 2:45 Screw Down Crown / kingflum / Substack  7:38 Middle East Forces The Escapement To Cancel Abu Dhabi Event And Move To Las Vegas (Hodinkee) 13:59 What's Happening in Abu Dhabi (Time Out)  14:10 Etihad Arena Abu Dhabi  16:30 Photo Report Dubai Watch Week (Hodinkee)  18:58 A Visit With @NYCWatchGuy (Swiss Watch Gang YouTube)  22:42 T-Mobile Arena Las Vegas (website) 24:05 FHH (website) 30:02 Watch Anish (Instagram) 32:55 Wynn Las Vegas  33:42 An example of an F.P.Journe Clock previously sold at auction (Loupe This)  34:54 Phillips Watches  35:44 Andrew Schulz (Official Website)  36:49 Rubis Awards (website)  37:05 Top Gamer and AI Techs Mike Capps and Ben Horesh Helm Everywatch (Forbes)  43:08 Horologer Ming Executives Ming Thein And Praneeth Rajsingh Talk Design, Manufacturing, Pricing, And More (Hodinkee)  46:02 HSNY Watchmaker Classes

This week on The Business of Watches, a boutique brand and its CEO from a country that has much of the watch industry abuzz. Nirupesh Joshi is the co-founder and Chief Executive Officer of Bangalore Watch Company, based in Bengaluru (previously known as Bangalore), India. The company was founded in 2018 and has slowly established itself as a purveyor of premium watchmaking with models that don't rely on classic tropes about the country to tell their story. Former tech industry executives Joshi and his wife, Mercy Amalraj, are building a brand that aims to express the modern spirit of India, as the country becomes an increasingly significant economic and cultural player on the world stage. There's a rich history of watchmaking in India, marked by brands including HMT and Titan, that have produced watches at large volumes to serve India's fast-growing population of over 1 billion people. But BWC is seeking a different client, one that's more seasoned in watches, and is seeking a brand that innovates and competes with other marques from around the world to tell its own unique stories.  BWC has grown to about 15 staff members, including watchmakers repatriated from other brands, opened a boutique in its home city, and produces around 2,000 watches per year, assembled in India, using components made both in-country and from suppliers around the world. The company recently raised capital from investors, and Joshi tells us how BWC plans to bring its watches to a wider, global audience. Customers outside of India already account for about 60% of sales, and the plan is to grow that segment further with modern, high-quality watches that express the dynamism of India and its young population. Show Notes:1:05 Bangalore Watch Company (website)  1:47 As China Retreats And The U.S. Wobbles, Is India The Next Great Hope For The Luxury Watch Market? (Hodinkee)  3:11 As India Gets Richer Its Biggest Watchmaker Titan Crafts The Nation's Most Ambitious Watch Yet (Hodinkee)  3:39 Hindustan Machine Tools - About Us  5:12 Tata Group 6:35 BWC Apogee 'Visitor'  6:51 BWC Cover Drive 'The Outfield' 7:45 The Role of Hong Kong In The Global Watch Market (Hong Kong's Finest Watches)  15:40 India rule the cricketing world, but is their dominance good for the sport? (New York Times / The Athletic)  16:08  Why does India want to be a space power?  (London School of Economics)  17:17 BWC Peninsula Carbon  18:18 Delhi AQI (Instagram)  22:00 Warby Parker  23:02 High-Net-Worth Individual (HNI) – Meaning, Types, and More (DBS Bank)  24:59 Horologer Ming Executives Ming Thein And Praneeth Rajsingh Talk Design, Manufacturing, Pricing, And More (Hodinkee) 25:02 Introducing: The Fears Brunswick 40.5 Jump Hour 'Ultimus' (Hodinkee)  26:24 Bangalore Watch Company opens flagship boutique in its hometown (Europa Star)  29:28 The Business of Watches Podcast: Czapek & Cie. CEO And Co-Founder Xavier de Roquemaurel 30:31 Furlan Marri  33:25 On Paper / On Wrist The Delhi Watch Co. DWC Terra (The Grey Nato)  36:26 BWC Forty Seven  38:50 India Single Malt Whisky: Complete Guide 2026 (The Daily Whisky)

Formex holds a unique place in the Swiss watch industry. The brand was born in the early 2000s with a proprietary case suspension system and designs that expressed the origins of its name 'forme extrême' (extreme shapes in French). But the recession spurred by the Global Financial Crisis of 2008 dealt a near fatal blow to the brand and it entered a period of relative dormancy. Then in 2016, Formex was taken over by a group backed by one of its suppliers, Dexel, a Swiss component maker specializing in bracelets, clasps and cases as well as dials at its subsidiary Cadranor.  Raphael Granito, now in his mid-thirties, is part of the family business behind Dexel and led the take over and revival of the Formex marque. He has steered the brand's development ever since and a decade later, Formex is leveraging its manufacturing savoir-faire and research and development skills from Dexel to produce innovative and approachable-priced Swiss Made watches.  The brand evolution culminated recently with the Aria, a high-end integrated bracelet titanium sport watch with an, ultra-thin, micro-rotor manufacture movement designed by Horage, priced below CHF 6,000. That's a significant step up compared to the CHF 1,800 average price point for its watches. Granito outlines how the brand has grown and connected with more customers, operating mainly outside the traditional retail structure. Still a family business, he hired his best friend from university to lead marketing and sales efforts. Formex has distinguished itself offering upscale finishing and components, including cases, bracelets innovative clasps and stone dials that include meteorite options. It's approach to design and engineering innovation, that Granito calls 'designeering,'  has certainly struck a chord with a watch enthusiasts, particularly in the U.S., now the Swiss brand's largest market. Show Notes 1:05 Raphael Granito (Instagram)  1:58 Formex (company website)  2:05 The Inner Workings of Formex's Case Suspension System (WatchGecko)  2:56 The Great Recession and its Aftermath (Federal Reserve History)  3:57 The Secret Sauce Behind the Value Proposition of Formex Watches (Timefiles)  4:08 Dexel (website)  4:12 Cadranor (website) 5:16 Formex Essence 5:37  Interview with Markus Wälchli, marketing director of Formex (The Watch Society YouTube) 12:17 Hands-OnFurlan Marri Disco Diamonds Onyx – A New Affordable Entry Into Subtle Gemsetting (Hodinkee)  13:52 How to Determine Product Pricing — The Complete Formula for Small-Batch Manufacturers (Stocksmith.io)  19:26 The Aria Manufacture Chronometer From Formex (Hodinkee)  25:25 Intersect, By the Brands, For the Enthusiasts

This week on The Business of Watches, we sit down with the business leader who has headed the reborn Czapek & Cie. brand for more than a decade now. Xavier de Roquemaurel didn't come from the watch industry when he co-founded Czapek with fellow entrepreneur Harry Guhl with help from watchmaker Sébastien Follonier in 2015.  He's had to learn the industry on the job and while Czapek burst on the scene by winning the Grand Prix d'Horlogerie de Genève (GPHG) Public Prize in its debut year in 2016, the company and de Roquemaurel have faced plenty of challenges along the way. From the  novel financing and shareholder model they created to fund the startup, to reckoning with a massive surge of back orders for their popular Antarctique integrated bracelet sports watch model during the boom times of the post-pandemic era, as well as serious health and medical ordeals. Reconsidering all the tests he and the company have faced, de Roquemaurel says he now believes that "adversity gets the best out of you."   Today, Czapek has just opened a new boutique on the historic Quai des Bergues in Geneva on the same banks of the Rhone river where François Czapek himself had his first atelier in the 1800s. In a wide ranging interview, the Czapek CEO traces both the path of the reborn brand and how it has found inspiration in the legacy of the watchmaker that opened what is believed to be the first watch boutique on Place de Vendome in Paris while producing timepieces for Napoleon III and the French Imperial court.  Stay tuned to the end for a preview of what complication the brand might take on next. Show Notes:1:05 Czapek Quai des Bergues Collection  1:58 Deconstructing the story of François Czapek (The Naked Watchmaker)  4:20 L'Oreal steals French stock market crown from LVMH (Reuters)  5:05 Agustin Almodovar Reflects on His Career as Brother Pedro's Producer (Variety)  7:01 Czapek Promenade Transparencies "Aqua Blue" (Hodinkee)  7:31 The Fratello x Czapek Promenade Transparencies "Viridan Green" (Hodinkee)  8:43 Watch Time New York  9:22  Czapek Documentary - An Unexpected Renaissance (YouTube)  10:07 Rolex, The Making Of A Status Symbol With Author Pierre-Yves Donzé (Hodinkee)  12:01 Battle of Warsaw 1831 (Wikipedia)  13:48 The Story of the Founding of Patek Philippe (Company website)  18:20 Czapek & Cie (Wikipedia) 23:09 Understanding Crowdfunding (Financial Conduct Authority)  24:50 Prospectus definition (Cornell Law)https://www.law.cornell.edu/wex/prospectus35:54 Thoracic Aortic Aneurysm Dissection (UCLA Health) - we Googled it 39:57 Zegna  41:16 FINMA 42:13 Right of first refusal - definition (Harvard Law)  42:20 Tag along and drag along rights definition (Investopedia)  46:19 Czapek Deep Dive (SDC weekly 104) 49:25 Rolex Certified Pre-Owned 52:27 Inhotec SA  54:11 Czapek Watches (website)

This week on The Business of Watches, a veteran watch industry CEO who is taking on one of the biggest and most demanding challenges of his storied career. Julien Tornare is the head of Hublot, the irreverent and ground-breaking brand controlled by LVMH that's trying to reclaim some of its former glory and role as a trend-setter in industry innovation.  An affable and talented business leader, Tornare has spent almost three decades in the watch world, with Vacheron Constantin and Richemont, and then as the chief executive of Zenith, where he oversaw a dramatic revival and upswing for the El Primero maker. He then had a brief tenure as the CEO of TAG Heuer, before joining Hublot as the big boss in 2024.  Tornare talks about Hublot's turbulent journey over the past four decades, and the spirit that's reflected in the brand's unconventional and outspoken ambassadors. He also takes on the marque's critics, making the case for why the YouTuber shots are largely unjustified.  As for where Hublot is going, that's partly where it has been, as Tornare discusses the influence of Hublot's Italian founder Carlo Crocco as the company reconsiders its legacy ahead of its 50th anniversary in 2030. There's also news of a major new partnership with legendary American artist Jeff Koons, who is bringing his artistic vision to the watch brand for the first time with a series of bold collaborations. We also discuss the role that Jean Arnault, long considered the true watch enthusiast in the Arnault clan, now has with the brand. Show Notes:0:30 Julien Tornare (Instagram) 1:06 Hublot (website) 1:43 The Quirky Backstory Of The Hublot MDM (FHH) 1:59 Jean-Claude Biver & The Relaunch of Hublot (IMD Business School Case Study) 4:22 Hublot And Football A Perfect Match (The Hour Glass) 6:25 The Truth About Hublot And How Their Watches Stack Up (Luxury Bazaar) 7:51 Julien Tornare, CEO of Hublot: "Hublot Will Rebalance Its Investments" (Luxury Tribune) 9:20 Nyon (Swiss Tourism) 9:59 Hublot Classic Fusion Original Goes Back To Where It All Began (Hodinkee) 10:14 Hublot Expands The Big Bang Across Every Level (Hodinkee) 11:39 Carlo Crocco (Watch Wiki) 14:04 The Art of Fusion In Depth (Time & Tide) 14:24 Andy Warhol's Hublot (Italian Watch Spotter Instagram) 17:20 Hublot Ambassadors 19:50 Why Hate Hublot? Featuring Nico Leonard (YouTube) 21:58 LVMH Watch Boss Sees Jean Arnault as Best Candidate for His Role (SwissInfo)  24:00 Hublot Spirit of Big Bang 31:40 Inside Hublot's Mission to Turn Its Watches Into Museum-Worthy Art (GQ) 32:01 Beyond The Canvas: Jeff Koons Reimagines Time With Hublot 36:10 Hublot Big Bang Original Soft Touch (Gear Patrol)  39:02 Hublot Unveils Decade-Long Warranty As New Industry Benchmark (Johnson & Co.)

This week on The Business of Watches, a fresh take on the new releases we saw at Geneva Watch Days and what they might mean for the market. Ahead of a special request summer fondue dinner, Tim, TanTan and Andy discuss what they saw, what they liked and didn't from the slew of novelties presented during the event.  We go deep into the debut of Gallet, discussing how the entry-level offering from Breitling's House of Brands will stack up against the competition and how it will re-enter the company into the cut-throat $3,000 to $6,000 price category at a time when the Swiss industry is struggling to halt the slide in volumes.  We also talk Bulgari, Oris, Frederique Constant, Girard-Perregaux, MB&F and the latest MADEditions, and why, when it comes to Doxa, you can't have just one. Plus, what the return of a new Northflag (now one word) heralds for Tudor. Show Notes:0:30 Tim Jeffreys 0:32 TanTan Wang  3:38 Gallet (brand website)  5:28 Introducing: The Gallet Flying Officer (Hodinkee)  5:50 Gallet Revives Vintage Fan Favorites With New "Classics" Multichrons (Hodinkee)  8:44 Business News: Breitling's House Of Brands Unveils New Executive Leadership With Georges Kern As Group CEO (Hodinkee)  11:30 Breitling To Relaunch Gallet Confirming Ambitions To Become Multi-Brand Watchmaker (Hodinkee)  12:55 Introducing: The Breitling Navitimer B09 Chronograph 41 Miles Davis (Hodinkee)  18:11 Essays: Prices, Volumes, And Passion: The Business Of Watches In 2025 And What To Expect In 2026 (Hodinkee)  22:30 Introducing: Frederique Constant Highlife Moonphase Date And Classics Moneta Handwinding (Hodinkee)  26:41 Introducing: Bulgari's Unexpected Dual Time Octo Finissimo With Vianney Halter, Plus A "Dazzle" Camo Release (Hodinkee) 30:45 Introducing: The Bulgari Octo Finissimo Tadao Ando Limited Edition Ref. 103534 (Hodinkee)  32:38 Introducing: The Girard-Perregaux Laureato Fifty Tourbillon Micro-Rotor 39 (Hodinkee)  35:50 Introducing: The Oris ProPilot X Gonzo Edition (Live Pics) (Hodinkee) 41:19 Introducing: Oris' Big Crown Pointer Date Goes Small With A New 29mm Version (Hodinkee)  43:15 IntroducingThe Doxa Sub 300 Ti5 (Hodinkee)  https://www.hodinkee.com/articles/the-doxa-sub-300-ti5 48:30 Hands-On: The M.A.D.Editions M.A.D.3 Vincent Calabrese (Hodinkee)  49:48 Business News: Corum Is Back: With A New Admiral, Fresh Designs, And A Plan To Return Brand To Former Glory (Hodinkee)  56:19 Introducing: The Tudor Northflag Returns With Dual Time (Hodinkee)  1:02:14 Best fondue restaurants in Geneva (geneva.info)

This week on The Business of Watches, a visit with the folks running Armin Strom, a true original in the small but increasingly crowded field of independent watch brands. It takes its name and original inspiration from the eponymous Swiss watchmaker who was best known for his innovative and record-setting skeletonizing techniques on watches and dials.  Childhood friends Serge Michel and Claude Greisler took over the brand in 2006. Michel, who controls the company, came from a family business background (in another field of business), while Greisler was a watchmaker and engineer. Twenty years on, Armin Strom is a true original in Swiss watchmaking, producing unique timepieces pushing the boundaries of contemporary horology from an atelier in Biel / Bienne, where most of the components are produced, decorated and finished for the brand's proprietary, in-house designed movements.  This week the brand launch a new version of its Dual Time GMT Resonance in a "manufacture blue edition" with a blue mainplate. The watch employs Armin Strom's unique take on the concept of resonance with dual oscillators kept in balance by its proprietary 'resonance clutch.' The story of the development of the brand's take on the concept is a key element in its journey and we explore and unpack that process in-depth in the episode. Currently making about 400 watches a year with a staff of about 55 people, Armin Strom is on the cusp of increasing its capacity and output. The question is what that growth looks like and Serge Michel explores the decisions the brand is making to take that next step.  Show Notes:2:36 Armin Strom 3:25 Burgdorf, Switzerland (Wikipedia) 5:28 Armin Strom: Exploring Its Past And Present (Fratello) 9:00 Armin Strom's First In House Tourbillon (Europastar) 10:23 In-Depth: Understanding Resonance In Watches (SJX) 12:20 Armin Strom Resonance Clutch Spring 16:04 CSEM Neuchatel 18:02 Innosuisse 20:59 Abraham-Louis Breguet (Wikipedia) 23:10 System 78 25:56 Armin Strom's Groundbreaking 'Minute Repeater Resonance 12:59 First Edition' Lets You Chime The Time (Or Really Show Off) (Hodinkee) 28:10 Armin Strom Extends Marussia F1 Partnership (Watchpro)

This week on The Business of Watches, we're getting a preview and history lesson of Geneva Watch Days. Born in the dark days of the pandemic in 2020, it was a new kind of watch industry gathering, that prioritized access and community over exclusivity. Jean-Christophe Babin, the former Chief Executive Officer of Bulgari, has been there from the beginning. He tells us why Geneva Watch Days started and why it's still needed. We discuss what to expect at this year's event and what the future of watch industry events might bring.  With some 71 brands exhibiting, GWD has more marques than that other big watch show in Geneva that happens each spring, but it's very different in tone and feel. Using a 'decentralized' concept, brands pay fees based on their size and revenue and the show allows for plenty of smaller, boutique brands to show off their wares.  Open to the general public, it certainly isn't as glitzy nor as pricey an event as some others. Babin says the entire budget of GWD is likely less than the cost of staging and running a major booth at Watches and Wonders.  A veteran who has served as the head of LVMH's watch unit as well the CEO of TAG Heuer, Babin has seen the industry through a myriad of cycles, giving him a unique perspective on where the watch sector has been and where it's going.     Show Notes 0:59 Geneva Watch Days website  2:00 Geneva Watch Days 2020 / 2021 (FHS)  5:06 Geneva Tourism - Geneva Watch Days  9:12 Breitling was a founding member of GWD  10:31 Watches and Wonders  12:45 How Watches and Wonders Remains Worthwhile For Brands Big And Small (Hodinkee)  17:16 Geneva Watch Days Agenda / Panels / Symposiums  19:10 Phillips Geneva Watch Days Auction  For Geneva Watchmaking School  22:15 Geneva.com  24:03 Fondation du Grand Prix d'Horlogerie de Genève  31:18 Ferdinand Berthoud  32:00 FHS Statistics  33:40 The criteria for strengthening Swiss made (FHS)  35:20 Swatch 37:50 Casio mechanical watches  40:30 Swatch X Audemars Piguet 'Royal Pop' (Hodinkee)

This week on The Business of Watches, Collective Horology co-founder and Chief Executive Asher Rapkin joins us. He brought his lawyer. While Collective is a Ventura, California-based retailer of independent watch brands, including Armin Strom, Czapek, Fears, Ming and J.N. Shapiro, Sara Albrecht is the chairman and CEO of The Liberty Justice Center. That's the non-profit litigation firm that led the legal fight successfully challenging President Trump's initial round of tariffs all the way to the Supreme Court of the United States. They won, in a surprise decision that ruled the President didn't have the authority to impose the levies that boosted the cost of importing goods to the U.S., including Swiss made watches.  The government is now in the process of refunding the approximately $166 billion businesses paid out. Of course, the Trump administration found a work-around and immediately slapped on new tariffs and, on July 24, initiated levies of 10% and 12.5% on imported goods, including Swiss made watches. That's the day that Collective Horology and another importer (dealing in exotic spices), filed a lawsuit against the President and various bodies and individuals in the administration including U.S. Trade Representative Jamieson Greer. Rapkin tells us why his business decided to challenge the tariff laws and take on the President and his government while Albrecht lays out the legal argument driving their case. It's a matter of significant economic importance for U.S. business and the global watch industry.  Show Notes0:46 Lawsuit filed by Collective Horology et. al against President Donald Trump  1:13 Swiss Watch CEOs Plot Next Move As US Tariffs Threaten Industry Sales (Hodinkee)  2:24 Collective Horology website  3:42 Watch Industry Cheers Supreme Court Tariff Ruling But Faces More Uncertainty As Trump Vows Workaround (Hodinkee)  4:57 Liberty Justice Center  7:28 Forced Labour Section 301 (U.S. Trade Representative statement)  10:50 U.S. dollar x Swiss franc (Xe Currency)  11:37 J.N. Shapiro Watches website  11:50 The Watch Switzerland Can't Make - Karel Bachand (Barrelhand) - Openwork podcast  14:53 Rolex And Richemont Executives Among Swiss Business Leaders Meeting With Trump (Hodinkee)  18:31 Swiss-U.S. Trade Relations (SECO)  20:05 U.S. Court of International Trade  21:11 Jamieson Greer (Hodinkee)

This week on The Business of Watches, we take stock at the halfway point of the year for watch auctions. Remi Guillemin, Christie's head of watches for the Americas, Europe and Middle East, gives us his take on what's driving the interest of the top watch collectors these days. It's a pivotal time, with the watch auction market setting record sales results at most of the top auction houses despite global economic challenges and geopolitical tensions and conflicts.   The last time the market was this hot was in the post-COVID era of 2021 and 2022. Guillemin believes this time is different, and he tells us why references from F.P. Journe and Cartier, and (surprise!) pocket watches, are driving the market these days and how that's a fundamental shift from the hype watch driven boom post-pandemic. He also shows us some of the watches in his personal collection and reveals the grail he's still chasing.  Show Notes 0:36 Remi Guillemin (Christie's website - scroll for bio) 1:00 Auctions: The Five Results That Actually Mattered, From The Spring 2026 Auction Season (Hodinkee) 3:08 Luxury Watch Sales at Auctions Drop 13% After Post-Covid Surge (SwissInfo/Bloomberg) 5:17 Revealed: A unique Audemars Piguet monopusher chronograph wristwatch unseen since its manufacture in the 1930s (Christie's) 5:49 Recent Daniel Roth Auction Results at Christie's 10:48 F.P. Journe Tourbillon Souverain Reference T 14:37 Private Sales (Christie's) 17:23 Tiffany Blue Patek 5711 18:37 Cartier London Crash  20:42 Zuckerberg Wears $900,000 Watch To Announce End Of Meta Fact Checks (Bloomberg) 23:40 The A. Lange & Söhne Little Lange 1 Moon Phase With Gold Flux Dial (Hodinkee) 29:36 Krayon Anywhere (Hodinkee) 30:34 Patek Philippe Reference 130 in steel (Hairspring) 35:15 French Soccer Legend Zinédine Zidane Talks Watches And Why He's Offering His First Cartier To A Special Charity Sale

This week on The Business of Watches, a breaking news story, of sorts. Our friends at Worn & Wound have acquired Lorier Watches. It's a story of success for the New York-based boutique brand that started way back in 2017 with a mission to make vintage-inspired watches, designed to be worn every day, at an approachable price. In a way, it's a tale of too much success.  Lorier co-founders, the husband and wife team Lauren Ortega and Lorenzo Ortega, struggled with the rapid growth of the small company, and the inability to meet demand for their products took a toll on the two-person operation. They considered winding up the brand, as it were, but a talk with Blake Malin, the co-founder of the well-established content, retail, and watch event company Worn & Wound, also based in New York, set them on a different path.  The acquisition of Lorier is the first time Worn & Wound has acquired a watch brand. Malin and Lorenzo Ortega join us to talk about how the deal came about and what's next for both Lorier and Worn & Wound. Though Ortega spent his formative years in Geneva until he was about 18, it's a decidedly American business story in the watch industry.  Show Notes:  1:11 A New Chapter for Lorier 1:48  Handsome Mechanical Watches For Less Than $500? Look No Further Than Lorier (Gear Patrol) 3:00 Worn & Wound 3:39 Windup Watch Fair 6:10 Grand Central Watch collaboration 8:02 The Lorier Hydra SIII (Hodinkee) 11:05 Windup Watch Shop 23:30 Art Deco vs. Art Nouveau (Rise Art)

This week on The Business of Watches, we're talking to the leader behind one of the strongest turnaround stories in the industry in recent years. Guido Terreni joined Parmigiani Fleurier as CEO in January, 2021 from Bulgari and has overseen a dramatic transformation in the design, style, and fortunes of the brand founded by master watchmaker and restoration expert Michel Parmigiani in 1996, with backing from the Sandoz Family Foundation. Under Terreni's guidance, Parmigian Fleurier has been transformed. Striving to convey the concept of "private luxury," the brand has released a series of surprising, elegant, technically innovative, and yet restrained timepieces under its Tonda PF and Toric model lines.  The brand has done nothing less than reimagine and reinterpret classic complications, including the GMT and, most recently, the Tonda PF Chronograph Mysteriéux, which stole the show, for many, at this year's Watches and Wonders.  In a wide-ranging conversation, Terreni unveils the philosophy behind the brand's discreet aesthetic and the structure behind its manufacture and organization. We discuss retail, production, and design concepts aimed at taking Parmigiani Fleurier to the next level in the hyper-competitive luxury space.   Show Notes:  1:05 The History of Parmigiani Fleurier (company website) 1:38  Global Impact of the Collapse of Lehman Brothers (Harvard Business School) 3:00 Early Parmigiani Fleurier And the Enduring Appeal Of Overbuilt Watches (Hodinkee) 8:12 That Time I Wrote That 'Swatch Group' Was A Dumb Name, And What Happened Next (Hodinkee) 16:42 Tonda PF Collection (company website) 19:02 Hands-On: Parmigiani's New Tonda PF GMT Rattrapante Is The Understatement Of The Year (Hodinkee) 23:50 Quiet Luxury (EFL) 28:10 The Rise And Fall Of The Hype Watch (Hodinkee) 31:08 Tonda PF Minute Rattranpante 31:18 Tonda Chronograph Mysteriéux (YouTube Monochrome) 41:39 Brand retailers 49:36 Toric Collection (company website)