Tag Archives: industry news

Every New Watch You Can Start Craving Right Now | Instant News

For the watch industry – as well as for many others – 2020 began as an apocalyptic disaster film.

“Vegas closed first, then New York, then Florida, then London, then Switzerland. Then the whole world closed last March, ”said Brian Duffy, CEO of the Swiss Watches Group (WOSG), a retail group with about 150 stores in the US and UK and a large online presence. “We don’t have any incoming products and we don’t have stores open.”

Furthermore, the Watches and Miracles exhibition in Geneva, scheduled for the end of April 2020 and usually held in person, was moved online. Then, a larger exhibition, Baselworld, was postponed and eventually canceled. To make matters worse, it soon became possible that Baselworld, which was first staged in 1917, would never happen again.

So, while this year’s Watches and Miracles – now Switzerland’s largest and most influential exhibition in the void left by the Baselworld cancellation – rolls still online, time hangs in the balance. Watch collectors around the world mourn the opportunity to see, hold and wear the new development “in the metal”. Branding self-reinforcing: Will there be a retreat to the solid classics or will innovation take a (virtual) stage?

Last week’s opening on April 7 launched fireworks in a horological universe. The number of brands grew exponentially to 38. Jaeger-LeCoultre launched the Reverso Hybris Mechanica Caliber 185, a $ 1.6 million timepiece featuring four dials and 11 complications, including a moon phase requiring adjustment only once in 1,111 years. Architect Tadao Ando’s latest collaboration with Bulgari is unveiled, showing a minimalist masterpiece in black ceramic – the same material Omega uses for its newest dive watch, the Seamaster Diver 300M Black Black, released just before the exhibition. After about six years of work, Patek Philippe introduced an engineering feat: allowing the perpetual calendar to appear for the first time on one of his watches in a straight line in one slit. Bright colors are everywhere, including the Rolex Oyster Perpetual Datejust 36 laser-engraved green circle resembling a palm leaf and Chanel’s shockingly pink Code Coco Electro.

And to coincide with the fair, Audemars Piguet staged a Hollywood premiere in Los Angeles for the Royal Oak Concept “Black Panther” Flying Tourbillon – the first in a collection inspired by the Marvel Comics superhero.

What makes a company confident to undertake such costly research and development, coupled with bold and cheeky designs? For one thing, for those who love it, watches remain an important investment in 2020.

“We believe, rightly, that people generally do not give up on buying the beautiful Cartier or Patek Philippe,” said Duffy of WOSG.

Continued investment by brands in new movements, complications and materials is motivated in part by a simple fact: The new watches sell and attract more media attention than existing, reissued models. There are legions of collectors about to buy new editions of their favorite watch models, and brands don’t want to appear silent.

Ultra-luxe brands, previously shunning e-commerce priorities, were pulled out of their analog hiding place and focused more on digital sales. This is partly the case, said Duffy, at the request of WOSG, which has itself shifted to a digital strategy with an enhanced online presence. Duffy conducts Instagram Live interviews with the brand’s CEO, staff set up virtual appointments with clients, and Instagram’s augmented-reality filter lets people see the watch face on their wrist. As a result, WOSG’s online business has increased significantly.

The shift is inevitable, Duffy said, but Covid-19 is accelerating it by three to five years.

“Technology has offset the lack of tourism,” said Bulgari CEO Jean-Christophe Babin, who has relied on the brand’s digital presence to virtually open doors and sell them to customers privately over the past year. He also froze hiring and spending, cut budgets to build reserves and shifted perfume production to making hand sanitizers. “Luckily, three countries can get through the crisis quickly. China, South Korea and Japan bounced back in September, “he said.

China is also home to the Live Watches and Miracles exhibition, which opens just as the digital exhibition closes and runs until April 18. “Two years ago, the discussion was, ‘OK, do we need a physical exhibition?’ Now there are no questions, ”said Emmanuel Perrin, head of the newly appointed Fondation de la Haute Horlogerie, the non-profit organization that hosts exhibitions. (He also oversees the distribution of specialist watchmakers at Richemont.)

Technology is playing a major role thanks to the invention of California-based PORTL, a device that transmits holographic footage of people and objects in real time across great distances, a process known as holoportation.

Exhibition visitors were treated to the use of PORTL technology in the watch world when, on the opening day, IWC Schaffhausen CEO Christoph Grainger-Herr presented the brand’s new collection in Shanghai while he and the watch remained in Schaffhausen, Switzerland. “If you can’t make it to the boutique,” said PORTL CEO and founder David Nussbaum, “we’ll send the boutique to you.”

Time Machine

Some of the most eye-catching designs from this year’s Watches and Miracles fair.

36mm Rolex Explorer in Oystersteel and yellow gold, $ 10,800, www.rolex.com.


Courtesy of Rolex

Rolex’s signature Explorer was redesigned with a shrinking 36mm shell and a two-tone Rolesor in steel and yellow gold.

Patek Philippe Ref. 6119G Calatrava in white gold, $ 29,570, www.patek.com.


Thanks to Patek Philippe

The new movement is hidden behind traditional design elements in Patek Philippe’s new Calatrava.

Panerai Luminor Chronograph (PAM01218) in steel and crocodile, $ 9,200, www.panerai.com.


Thanks to Panerai’s kindness

The Panerai chronograph in Super-LumiNova gray with a white sandwich dial turns out to be fresh.

Cartier Tank Louis in pink gold and crocodile, $ 13,100 (price subject to change), www.cartier.com.


Courtesy of Cartier

Cartier’s new Louis tank is a sophisticated art deco style with a classic design.

A. Lange & Söhne Triple Split in pink gold, $ 164,400, www.alange-soehne.com.


Thanks to A. Lange & Söhne

A. Lange & Söhne reintroduces the three year old Triple Split in a pink gold and blue color combination.

The Eight Perpetual Bulgarian finissimo in Titanium, $ 59,000, www.bvlgari.com.


Thanks to BVLGARI

Bulgari’s new Octo Finissimo is the thinnest perpetual calendar on the market at just 2.75mm thick.

Chopard LUC Quattro Spirit 25 in rose gold, $ 44,700, www.chopard.com.


Courtesy of Chopard

Chopard celebrates 25 years of watchmaking with the complications of its first in-house hopping clock.

H. Moser Endeavor Tourbillon Concept Tiger Eye in red gold, cow and alligator eye, $ 75,900, www.h-moser.com.


Courtesy of H. Moser

Cut from Tiger Eye stone, the all-new H. Moser Endeavor Tourbillon dial is a one and only.

Hermès H08 in titanium, $ 6,050, www.hermes.com.


Thanks to Hermès

Hermès introduces a new class of pillow-shaped sporty watches in a variety of materials including satin brushed titanium.

Hublot Big Bang Integral Tourbillon Full Sapphire in sapphire and titanium crystal, $ 422,000, www.hublot.com.


Courtesy of Hublot

Hublot’s Big Bang model turns into a light-capturing object made of clear sapphire crystals.

Jaeger-LeCoultre Reverso Hybris Mechanica Caliber 185 white gold, price on request, www.jaeger-lecoultre.com.


Courtesy of Jaeger-LeCoultre

Jaeger Le-Coultre’s new reverso is polite but fraught with 11 complications.

Vacheron Constantin Traditionnelle Split-Seconds Chronograph Ultra-Thin in platinum, $ 288,000, www.vacheron-constantin.com.


Courtesy of Vacheron Constantin

The new Traditionnelle Split-Seconds Chronograph Ultra-Thin Vacheron Constantin will be released in just 15 pieces.

Zenith Defy Extreme in titanium and rubber, $ 18,000, www.zenith-watches.com.


Thanks to Zenith’s kindness

The Zenith El Primero 9004 chronograph movement is encased in a rugged design of micro-blast titanium.

Copyright © 2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8


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Shortage does not eliminate big technology revenue—but | Instant News

The world’s largest technology companies effectively rely on chips to run.But their abilities provide them with some protection against Semiconductor production shortage At least for now, it is also plagued by other industries.

In the upcoming first quarter earnings report, how many protective measures will become obvious. Apple, Microsoft, Amazon.com, Facebook, and Google’s parent company Alphabet (Alphabet) are very different, but to some extent, they all sell their own devices with processors. , From smart phones to smart speakers to virtual reality headsets. They all run a huge network of giant data centers to provide cloud software, e-commerce and social networking services, as well as movies, TV shows and video games.

But the chip production is insufficient Troubled automotive and other industries The performance of large technology companies in the third quarter is not expected to change much. According to consensus estimates by FactSet, compared with the same period of the previous year, the revenue and operating income of the above five companies are expected to achieve strong double-digit growth. In fact, these five companies are expected to increase their revenue by an average of 29%-a feat considering that the group’s consolidated revenue may usually be slightly below $300 billion in the slowest quarter of each quarter.

The division’s operating income is expected to exceed revenue growth, indicating that analysts did not anticipate additional cost pressures that may be caused by factors such as component shortages. It is estimated that the operating income of the five major technology companies will increase by an average of 43% over the same period last year, reaching a total of approximately 61.5 billion US dollars.

How do large-scale technologies do this? The financial and operational influence of global technology giants usually puts them at the top of the list of chip and other key component manufacturers. Moreover, the prices of chips such as smart phones, personal computers and central processing units in data centers are much higher than the prices of many chips used in cars, which cost less than $1. As a result, chip manufacturers will give priority to the production of these high-end chips.


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Amazon voting deals surge to expand union membership | Instant News

Workers refused to form a union in Amazon’s warehouse in Bessemer, Alabama, as a setback of organized labor’s efforts to reverse decades of declining private sector membership across the country.

This Alabama results According to data from Georgia State University, unions face the challenge of increasing membership in the US private sector. In the US private sector, the proportion of union representatives is only 6.3%, down from 24.2% in 1973.

Last year, although millions of jobs were laid off in the country during the pandemic, including 300,000 union positions, there has been an increase in hiring at Amazon, the second-largest private employer in the United States, and other e-commerce warehouses. For unions, the time seems ripe for organizing workers in an environment where the expanding sector and unions have traditionally been operating: a large blue-collar construction site where many employees are engaged in similar jobs.

Despite the effort, the effort failed President Biden’s endorsement,He says The goal of establishing more union work And update Many congressional Democrats support labor.

According to the Ministry of Labor, last year there were more union members working for the government than for private sector employers, indicating that the public sector is now a stronghold for organized labor. Teacher strikes and protests in 2018 and 2019 won salary increases and other concessions in Arizona, West Virginia, Los Angeles, and other states and cities. Recently, the educators union has affected the renewal of the pandemic in Chicago and other places. The plan to open the school.


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NRA CEO LaPierre reportedly told travel agent to hide certain stops on his private jet flights | Instant News

A travel consultant who testified in the National Rifle Association bankruptcy case said chief executive Wayne LaPierre asked her to omit certain flight stopovers from invoices she sent to the human rights group. firearms for Mr. LaPierre’s private jet trip, a disclosure that NRA lawyers are disputing. keep out of court record. The travel counselor testified, in a video filing released in bankruptcy court Thursday, that some invoices she sent to the NRA omitted stopovers in Nebraska and the Bahamas, at Mr. LaPierre’s request. Some of Mr. LaPierre’s relatives who frequently traveled on private jets paid for by the NRA live in Nebraska. The NRA chief previously said he travels frequently to the Bahamas to stay for free on a 108-foot yacht in the Bahamas with family members, provided by an NRA vendor, for safety reasons. Testimony that Mr LaPierre sought to hide some private jet stops from the NRA’s own accountants could be evidence that he knew what he was doing was wrong and that he was deliberately hiding it, legal experts have said . “If this is true, it appears to be a clear and documented example of misusing NRA assets and covering up this abuse,” said Elizabeth Kingsley, a Washington nonprofit lawyer. .

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New US Airline Avelo Enters Competitive Travel Market | Instant News

A new airline is launched, bringing more competition to a domestic travel market that has been ravaged by the coronavirus pandemic but has shown signs of recovery in recent months. Avelo Airlines aims to serve smaller airports and routes that big carriers have ignored or left behind. The new airline is expected to operate its first flight at the end of the month, connecting Burbank to Santa Rosa, Calif., And will initially serve 12 airports in the western states. Avelo was designed before the pandemic disrupted the airline industry. After raising $ 125 million from investors in January 2020 – months before air travel came to a virtual halt in the spring – the airline delayed its launch until demand for travel returned. Andrew Levy, managing director of Avelo, said the time is right. The vaccinations sparked a renewed appetite for the holidays. Passenger volumes at U.S. airports are still down 30-40% from pre-pandemic levels, but airports are busier than they have been for more than a year. While public health officials discourage people from taking travel, the Centers for Disease Control and Prevention said last week that the risks are low for those who have been fully immunized. The pandemic has forced thousands of businesses across the country to close their doors, but has also created opportunities to open new ones. Entrepreneurs are looking to pounce, as states lift restrictions on business activity, betting that consumers with cash to spend are willing to start spending again. .

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