Chopard’s 2012-2013 Winter Collection of Jewelry, Watches, Clocks and Games

Luxury house Chopard recently unveiled a collection of jewelry, timepieces and even a backgammon set for the winter season. Items include the following:

L.U.C Quattro Table Clock
The table clock is inspired by the famous Haute Horlogerie L.U.C collection and one of its flagship models. For the very first time, Chopard offers a table clock equipped with a mechanical hand-wound movement with an eight-day power reserve.


Imperiale Jewelry
To accompany the Imperiale watch, Chopard created a new line of jewelry. The motif that adorns the dials of the watches, inspired by the traditional embroideries that once decorated imperial gowns and cushions, is apparent within the design of the pendants, earrings, rings, and bracelets. The collection is set in 18k rose gold or white gold, featuring amethyst, pink quartz or chalcedony.


Happy Sport Chrono
The Happy Sport chronograph in diamond-set rose gold remains loyal to the very essence of the Happy Sport collection—with a white mother-of-pearl dial and delicate gem-setting.


Precious Temptations
Chopard creates a banquet of sweet delights, combining precious stones with gems to create an array of pink sapphires, amethysts, rubellites, tsavorites, tourmalines and opals.


L.U.C Quattro
The new L.U.C Quattro is powered by one of the biggest successes of Chopard Manufacture—the four-barrel L.U.C 98.01-L movement. The timepiece adopts the new aesthetic codes of the L.U.C collection that combines Haute Horlogerie with distinguished lines.


Backgammon Set
Chopard’s backgammon set is in black-lacquered sycamore wood featuring red, cream and black sycamore marquetry.


Animal World Collection Seal Lion Necklace
To celebrate its 150th anniversary, Chopard has taken on the challenge of signing an Haute Joaillerie collection of 150 unique animal-themed pieces. This year Chopard introduces its Sea Lion Necklace with white south sea cultured pearls and diamonds.


Happy 8
The Happy Diamonds collection explores the symbolism of the figure 8 with a new collection of watches, pendants, rings and earrings. The ideal curves, richness and power of the figure 8 have inspired Chopard to create a collection where the infinity purity of the lines echoes that of the materials in a subtle association between diamonds and gold.


Grand Prix de Monaco Historique Chrono 2012
The new watch, with its matte grey, vivid colors and racing stripes, is a tribute to 1970s racing cars. Equipped with a mechanical self-winding movement chronometer-certified by the COSC, the timepiece displays the hours, minutes, small seconds and the date, naturally complemented by chronograph functions and a tachometric scale.

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Swatch Group Underscores Strength of the Swiss Watch Industry

Swatch Group, the world’s largest watch company, said Tuesday that its watch and jewelry sales for the first half of 2012 grew 16.7 percent to 3.4 billion Swiss francs ($3.42 billion), year-over-year. The company owns 19 watch and jewelry brands in all market segments, including Swatch, Breguet and Longines.

The results by Swiss company underscores the strength and resiliency of the Swiss watch industry despite the economic problems facing much of the world. Last week, the Federation of the Swiss Watch Industry reported that watch sales for the first half of the year increased by 16.9 percent to 9.5 billion francs ($9.55 billion).

Swatch Group—which also produces movements, hands, crowns, cases, screws, pallets, escapements, electronic circuits, batteries, ceramics and sapphire for its own products and its competitors—saw its gross sales increase 14.4 percent to 3.84 billion francs ($3.86 billion), surpassing the record 2011 half-year figure.

Operating profit for the first half of the year increased by 19.4 percent to 903 million Swiss francs ($908.6 million). Net income increased 25 percent to 724 million francs, year-over-year ($728.4 million).

The Biel/Bienne-based company, in its outlook, expects “dynamic growth in all segments and regions, notably also outside Asia,” for the second half of the year.

Cautious Optimism Fills Baselworld Buoyed by Asian Demand for Luxury

A fractured arm kept me from attending Baselworld this year. Fortunately, I know some of the best writers and experts in the jewelry and watch industry. One of those folks is William George Shuster who has kindly agreed to take time from his busy schedule to write a few stories from the tradeshow. Below is his first report from the event.

By William George Shuster
Special Correspondent

BASEL, Switzerland – Baselworld, the world’s largest and most important watch and jewelry trade show, opened March 8 amid optimistic expectations by many for good business in 2012—but not too optimistic.

“We’re confident about 2012” because of strong business results in 2011, especially in luxury due to China’s appetite for it,” said Francois Thiebaud, chairman of the show’s Swiss exhibitors and president of upscale watch brand Tissot, echoing many vendors, “but we’re not overconfident. The Eurozone crisis and debt problems elsewhere could still have effects [on business].”

This 40th annual BaselWorld fair, in Basel, Switzerland, Mar. 8 – 15, has 1,815 exhibitors (608 in watches, 689 in jewelry and 518 in related products and services) from 41 countries. More than 100,000 buyers and visitors from 100 countries are coming, and all is being reported on by more than 3,000 print, TV, radio and Internet journalists from around the globe.

The reason for their interest is obvious: Because Baselworld is, in the words of Show Director Sylvie Ritter, “a microcosm, where the players from the world’s watch and jewelry industry gather for a week.” It is an important bellwether of products, innovations and trends affecting the industry, consumers, and the retail business worldwide for year ahead.

Bullish. The cautiously bullish mood among exhibitors and analysts at the show is based on strong—even record-breaking—results for watch and jewelry exports and sales in 2011, especially in the luxury sector. That’s due largely to sharply rising consumer demand in Asia, especially China, say industry analysts in Basel. These strong business statistics for 2011 came despite many economic problems affecting sales and profits worldwide, they say, including the dramatic debt crisis in many Eurozone countries, the uncertain U.S. economy and the strong Swiss franc (which weaken Swiss watchmakers’ profits). Still, “[even] in this far-from-encouraging environment,” said Jacques J. Duchêne, long-time President of the Show Exhibitors’ Committee and former Rolex SA executive, at the annual pre-show press conference, “one industry has been able to stand up well and even break numerous records—the watch and jewelry industry.”

Indeed, it has. The year 2011 was “historic,” as Duchene put it, for the Swiss watch industry. Their exports totaled 19.3 billion Swiss francs (about $21 billion), an increase of 19.2 percent, making it the best year ever in the industry’s history—rebounding from its worst in 2009. Actual pieces exported were just under 30 million.

Unquenchable. Much of that was led by the seemingly unquenchable demand in Asia for fine watches: Over half (55 percent) of the Swiss exports went to Asia, primarily China, up 48.7 percent. (North America got 14 percent while Europe got 29 percent).

Duchene was quick to point out, however, that the Swiss success is not only due to the Far East. “It’s true demand was very buoyant in Asia,” he said, “but the watch industry has built up a good reputation in all emerging countries and succeeded in creating demand, especially in the luxury-products segment.”

So, “even in the face of a rather unfavourable economic environment, we envisage export growth in 2012,” Duchene said.

The Swiss aren’t the only ones feeling bullish about 2012. Spokesmen for the German, French, Italian, Israeli and Hong Kong delegations (the latter, being the show’s second-largest) also report good sales and export results in both watches and jewelry in 2012, despite the economic challenges, again especially in the luxury sector (and again, buoyed by record Chinese consumer consumption of revelry and watches). They too were upbeat about business results for the industry in 2012. As Gaetano Calvalieri, president of The World Jewellery Confederation (CIBJO) and spokesman for the Italian delegation, noted, “consumers in Asia, especially China, will carry Italian jewelry industry to new heights.”

Even if Chinese consumption slows slightly in 2012, as some reports suggest, “Even a one digit increase in demand this year is more than last year,” said Thiebaud.

"Excellent.” Those in the gem and diamond business also expressed upbeat predictions for 2012.

Eli Avidar, Managing Director of the Israel Diamond Institute Group of Companies, told its annual Baselworld luncheon that 2011 was “an excellent year” for the Israeli diamond industry, which exported $7.2 billion of polished diamond, and has “emerged from the crisis [of the 2008/2009 recession] stronger.” Again, some of this is due to Asia. “There is a steady rise in demand for large diamonds in China and we believe it will go much further,” especially is the international industry invests significantly in promoting diamonds and diamond jewelry in China. He also noted that there are “signs of recovery in the U.S. economy”—unlike Europe, where was no visible increase in diamond demand in 2001 or 2012—and we expect significant rise in demand in diamond jewelry in the U.S. this year.”

William George Shuster is a multi-award winning writer—including three Jesse H. Neal Award, business journalism's highest honor. He has 40 years experience as a journalist, author and editor. He is considered one of the world’s top watch industry journalists, covering the world of timepieces for the past 30 years.

Swiss Watch Exports Surpass $21 Million in 2011

Photo credit: Ulysse Nardin

Swiss watch exports grew by 19.2 percent in 2011 to 19.3 billion francs ($21.1 billion), according to the Federation of the Swiss Watch Industry. With the exception of 2010, which followed a major downturn, it is the strongest growth in the industry for the past 20 years.

Each month in 2011 had double-digit growth, year-over-year, except for June, which posted a 9.2 percent increase. The steepest increases (above 30 percent) were reported in April and May. However, the final three months were the biggest in history, the association said.

The association went on to say that it was “penalized” by the strength of the Swiss franc, which placed a strain on margins and selling prices. However the sector drew strength from steady demand and a greater presence worldwide, particularly on high-potential markets less affected by exchange rate fluctuations.

Nearly all the main markets of the Swiss watch industry showed double-digit increases in 2011, absorbing more than 20 percent of Swiss watch exports by value. Hong Kong, the industry’s largest market grew by more than 28 percent. The United States, the second largest market, increased by 18.4 percent, which the association said “confirmed its gradual recovery.” China moved up one place in the ranking, thanks to the biggest increase among the main markets (48.7 percent). European markets all registered below-average performances. While France, Germany and the United Kingdom recorded two-digit growth, Italy and Spain failed to match this level. Singapore also moved up one place, following the same trend as Hong Kong. Japan offered concrete signs of recovery, but from a particularly low base.

The association said that 2012 will continue to see robust growth for the Swiss watch industry based on the “appeal of its high-quality products, growth potential in important markets and investments made by watchmaking firms to ensure their development offer grounds for confidence in the future.”

Wristwatches accounted for the major share of exports, generating 94 percent of total value. The value of timepieces rose by 19.3 percent, year-over-year, to 18.1 billion francs. Nearly 30 million watches left Switzerland (up 13.8 percent), the highest level since 1999 and well above the average figure of 25 million units over the past ten years.

More than half of all watches exported were manufactured from steel. This material showed a positive trend (up 12.8 percent) to exceed 15 million timepieces, on a par with their value, which increased by 13.9 percent. The category of other materials, which includes all non-metallic finishes, saw volumes rise to nearly 8 million units (up 18.8 percent). Among the important materials, the category of other metals, mainly aluminum, registered more than 4 million units (up 8.1 percent).

In value terms, gold watches recorded the highest increase (26.5 percent), linked to an upturn in volumes of 24.2 percent. Bimetallic timepieces were not far behind with an increase of 24.7 percent.

All price segments saw robust growth in 2011, denoting interest among consumers for the entire range of Swiss watches. Timepieces costing less than 200 francs (export price) greatly influenced volumes with an increase of 2.2 million units (up 11.7%). Between 200 and 500 francs, growth was close to 20 percent, both in value and volume terms. The 500-3,000 francs range saw its value increase by 14.9 percent. Watches costing more than 3,000 francs recorded the highest rate of growth in value terms at 21.8 percent.

Other products exported by Swiss watchmaking firms, mainly components, also experienced a sharp upturn in value (18.1 percent to 1.2 billion francs).

The top 15 markets for the Swiss watch industry (total value in million francs and percentage variation by comparison with 2010):

    1.    Hong Kong    4,085.9    +28.3%
    2.    USA    1,984.6    +18.4%
    3.    China    1,636.3    +48.7%
    4.    France    1,296.4    +10.9%
    5.    Singapore    1,146.4    +27.5%
    6.    Italy    1,011.8    +9.5%
    7.    Japan    909.2    +12.6%
    8.    Germany    899.2    +17.0%
    9.    United Arab Emirates    682.9    +17.9%
    10.    United Kingdom    659.0    +10.4%
    11.    South Korea    394.5    +29.2%
    12.    Taiwan    366.9    +18.8%
    13.    Spain    355.5    +3.4%
    14.    Saudi Arabia    286.0    +11.6%
    15.    Thailand    278.6    +35.1%

Swatch Group Reports Record Sales

Swatch Times Square store.

Swatch Group saw its 2011 gross sales increase 21.7 percent, year-over-year, to 7.14 billion Swiss francs ($7.5 billion) with December 2011 posting the strongest month in sales in company history.

The world’s largest watchmaker shrugged off the impact of the strong Swiss franc, which negatively affected sales by 10.8 percent. “Despite this extremely negative currency effect, sales in CHF increased by an impressive 10.9 percent over the previous record year 2010,” the company said.

The company also noted that “despite enormous pressure on margins due to the catastrophic currency situation,” it expects 2012 to be another good year for operating profit and net income.

Swatch’s Watches & Jewelry segment recorded an increase in sales of 26.1 percent at constant rates to 6.312 billion Swiss francs ($6.65 billion). Greater China was a very strong market bu the company said it “experienced significant growth” in all regions and price segments. “Investment in retail activities as well as numerous marketing offensives throughout the world contributed to these gratifying sales figures,” the company said.

The brand’s Production segment, where it provides watch components to other watch companies, reported a 32.6 percent increase in sales to 2.015 billion Swiss francs ($2.12 billion) due to “an enormous increase in demand for all types of components. Despite an expansion of production capacity, there were and still are major production bottlenecks,” the company reported.

The Electronics Systems segment mainly felt the effects of the overvalued Swiss franc against the US Dollar and the downtrend in certain key markets. Gross sales fell 16.3 percent to 336 million Swiss francs ($354.1 million).

“Despite the strongly negative currency impact during the course of the year and our traditionally defensive policy concerning price increases, Group Management expects good results for operating profit and net income,” the company said in its report. “The Swatch Group is confident of again generating qualitative growth in 2012, despite the ever more challenging comparison basis.”