New Rolex Patents, Lange and Moser CEOs speak, LV Misguided, Biver CEO, Deloitte India Spotlight, Atelier de Chronométrie + Lang & Heyne +Urban Jürgensen Deep Dives, Puzzle Robots and more!
The customization provided by Atelier de Chronometrie with the highest level of craftmanship is the definition of luxury. The established brands will make limited batch/piece unique for top customers (ie Black label at Journe, Tom Brady watch from AP). Here, every customer is treated as a top customer. Pretty remarkable.
As always, the SDC is always a treat to read and to ponder. I attended one of the LV watch events where we were wined and dined and presented the “new” path in watch making that LV is taking. They host a good party, no doubt about that. I was left with the impression of “let’s wait and see”. LV explained the “blank check” issued to Navas and Barbasini to make the watches they want, how they want, to grow the LV watch brand into manufacturer that competes at higher end of the market and admired by collectors for their craftsmanship etc… The watches we handled showed a good start in this direction. I did struggle with the price point knowing what else is in the market at that same price. There was indeed a lot of enthusiasm in the room, perhaps its the novelty mixed with the environment of a luxury atmosphere and a well hosted party. But again I was left with the impression that its nice, not my cup of tea at the moment for the price and we will need to wait and see what they do over the coming years. LV is not there yet in my humble opinion. They are making progress to me have a ways to go before I would spend $30k to $50k on their watches.
Enjoyed the read on the einstellung effect section. Great food for thought.
Your Tom Wolfe was great, we all need to be better friends, encourage and listen more than we speak. It reminded me of a comedic sketch by Brian Regan, I believe is was called “Me Monster” if you have a spare moment, google it on YouTube, its a good laugh. Well, they dawn is here and the to do list of the day is calling and I best be off before it crushes me “flatter than an octofissimo sat on by Cardi B”. - that was a great line by the way.
I have long wondered about the strategic rationale for Richemont’s collection of horological brand assets - Lange, Baume et Mercier, IWC, JLC, Panerai, Piaget, Vacheron Constantin; and also Cartier, obviously.
While there are some obvious synergies in the luxury conglomerate game - i.e., economies of scale, of distribution, of preferential real estate leverage - it’s not as if all of their watches are made in one giant facility and then branded. It’s not a capital intensive business like automotive manufacturing, and it’s not as if Richemont can spread a case design or even a movement (there are exceptions, yes) across offerings from different brands at different price points the way VW can spin out a Volkswagen, Audi, Porsche, Bentley, and Lamborghini SUV from the same platform.
So why own Vacheron AND Lange, given there are shoppers who will be cross-shopping items from both maisons (whether the shopper is aware of ultimate ownership or not)? Would it not make more sense to have one offering in each price tier rather than muddy the waters?
I own both Lange and Vacheron (multiples) and I don’t see them overlapping at all.. VC is history, heritage, everything Patek can offer without being a Patek and at a fraction of the price.. Lange on the other hand is over engineered, meticulously designed and has such a strong design code that it’s almost non-approachable for a lot.. in any case, I love them both despite F’s repeated diss on Lange… maybe because mine hasn’t broken yet and I’m scared to take it for a service! 😁
To me they are competitors in that they are positioned relatively similarly and command top pricing before you get into the thin, rarified air of the ultra-low production boutiques.
As for the history and heritage of VC … the carousel of recent(ish) ownership has blunted the impact of those attributes in my opinion.
5k watches per year… next is probably moser at 2-3k ish. Versus VC which is more than 4-5x that… not sure I agree with that angle, but interesting to hear the logic.
Also, Richemont would LOVE to sell more watches than they do today from both brands (as well as all of their other brands). Richemont is publicly traded and over a barrel at the moment (as is much of the luxury industry).
It sounds like you’re saying Vacheron and Lange fulfil the same purpose in the Richemont portfolio - appreciate you qualified this by limiting it to price ranges… I don’t really understand how you could think that is the case.
Lange makes ~ 5000 watches per year, and each piece, at the very least, has a hand-engraved part in the movement… they’re much closer to being ‘an artisanal’ brand than Vacheron (excluding their Cabinotiers stuff) who also make tens of thousands of watches at prices under 10-20k, all the way into the millions.
One final thought - If you ever get the chance to experience a full Wilson Audio set up, do. They are magical. I closed my eyes and thought I could reach out and touch the artist. I took my father to the audio shop to experience them as well. Few times in my life have I seen that man wipe tears from his eyes. The sound, the clarity and emotion that came through those towers invoked tears. They are truly impressive speakers.
Oh man, I know all about this… I used to be an intense audiophile before wireless convenience (and kids) caused me to compromise. I still have portable DACs lying around somewhere. It was a running joke - I even made a few random friends on planes, when they saw me setting up my audio gear pre flight… “Oh, what on earth is all that” - good times 😄
Einstellung basically says treat every problem like you’ve never solved that problem before… I think it’s a little different from trying something new..?
In any case, you are encouraging me to try a speedmaster….
An absolute leviathan of a read this week! …SDC becoming a weekly small fiction/non-fiction novel length tome! ….only have had time to check out one link (since I was mesmerized by dinosaurs at age 9) and just saw that Apex sold for a staggering $45 million, well over the 4-6 million estimate! So much good stuff as usual, wide ranging, disparate and stimulating 🤔 where can this all be healed 😳☝🏻👊🏼
Very enjoyable read as ever
Habibi 🫡
Thanks for taking the time
The customization provided by Atelier de Chronometrie with the highest level of craftmanship is the definition of luxury. The established brands will make limited batch/piece unique for top customers (ie Black label at Journe, Tom Brady watch from AP). Here, every customer is treated as a top customer. Pretty remarkable.
Sure, it may be remarkable - but its definitely not scalable in its current form. Everyone's playing a different game I guess.
As always, the SDC is always a treat to read and to ponder. I attended one of the LV watch events where we were wined and dined and presented the “new” path in watch making that LV is taking. They host a good party, no doubt about that. I was left with the impression of “let’s wait and see”. LV explained the “blank check” issued to Navas and Barbasini to make the watches they want, how they want, to grow the LV watch brand into manufacturer that competes at higher end of the market and admired by collectors for their craftsmanship etc… The watches we handled showed a good start in this direction. I did struggle with the price point knowing what else is in the market at that same price. There was indeed a lot of enthusiasm in the room, perhaps its the novelty mixed with the environment of a luxury atmosphere and a well hosted party. But again I was left with the impression that its nice, not my cup of tea at the moment for the price and we will need to wait and see what they do over the coming years. LV is not there yet in my humble opinion. They are making progress to me have a ways to go before I would spend $30k to $50k on their watches.
Enjoyed the read on the einstellung effect section. Great food for thought.
Your Tom Wolfe was great, we all need to be better friends, encourage and listen more than we speak. It reminded me of a comedic sketch by Brian Regan, I believe is was called “Me Monster” if you have a spare moment, google it on YouTube, its a good laugh. Well, they dawn is here and the to do list of the day is calling and I best be off before it crushes me “flatter than an octofissimo sat on by Cardi B”. - that was a great line by the way.
Cheers.
The blank check argument is untrue, evidenced by the corners cut in the movement (for the price) - as you’ve said.
The ‘me monster’ is excellent 😂 - ‘looked like a warthog’ - spat my drink out.
That Cardi B line was inspired by my own story, sitting on my ceramic Finissimo, and breaking off a lug 😂🤣💀
Ouch, sorry about the ceramic watch.
Warranty saved the day. They replaced the case, and I swifty moved it on… trauma wouldn’t allow me to wear it with confidence anymore.
Regarding Lange:
I have long wondered about the strategic rationale for Richemont’s collection of horological brand assets - Lange, Baume et Mercier, IWC, JLC, Panerai, Piaget, Vacheron Constantin; and also Cartier, obviously.
While there are some obvious synergies in the luxury conglomerate game - i.e., economies of scale, of distribution, of preferential real estate leverage - it’s not as if all of their watches are made in one giant facility and then branded. It’s not a capital intensive business like automotive manufacturing, and it’s not as if Richemont can spread a case design or even a movement (there are exceptions, yes) across offerings from different brands at different price points the way VW can spin out a Volkswagen, Audi, Porsche, Bentley, and Lamborghini SUV from the same platform.
So why own Vacheron AND Lange, given there are shoppers who will be cross-shopping items from both maisons (whether the shopper is aware of ultimate ownership or not)? Would it not make more sense to have one offering in each price tier rather than muddy the waters?
I own both Lange and Vacheron (multiples) and I don’t see them overlapping at all.. VC is history, heritage, everything Patek can offer without being a Patek and at a fraction of the price.. Lange on the other hand is over engineered, meticulously designed and has such a strong design code that it’s almost non-approachable for a lot.. in any case, I love them both despite F’s repeated diss on Lange… maybe because mine hasn’t broken yet and I’m scared to take it for a service! 😁
To me they are competitors in that they are positioned relatively similarly and command top pricing before you get into the thin, rarified air of the ultra-low production boutiques.
As for the history and heritage of VC … the carousel of recent(ish) ownership has blunted the impact of those attributes in my opinion.
5k watches per year… next is probably moser at 2-3k ish. Versus VC which is more than 4-5x that… not sure I agree with that angle, but interesting to hear the logic.
Also, Richemont would LOVE to sell more watches than they do today from both brands (as well as all of their other brands). Richemont is publicly traded and over a barrel at the moment (as is much of the luxury industry).
It sounds like you’re saying Vacheron and Lange fulfil the same purpose in the Richemont portfolio - appreciate you qualified this by limiting it to price ranges… I don’t really understand how you could think that is the case.
Lange makes ~ 5000 watches per year, and each piece, at the very least, has a hand-engraved part in the movement… they’re much closer to being ‘an artisanal’ brand than Vacheron (excluding their Cabinotiers stuff) who also make tens of thousands of watches at prices under 10-20k, all the way into the millions.
I dunno man. What am I missing here?
It’s not *precisely* the same purpose, but it’s close given the overlap in pricing. IMO.
Wilhelm is def on drugs lol
😂
One final thought - If you ever get the chance to experience a full Wilson Audio set up, do. They are magical. I closed my eyes and thought I could reach out and touch the artist. I took my father to the audio shop to experience them as well. Few times in my life have I seen that man wipe tears from his eyes. The sound, the clarity and emotion that came through those towers invoked tears. They are truly impressive speakers.
Oh man, I know all about this… I used to be an intense audiophile before wireless convenience (and kids) caused me to compromise. I still have portable DACs lying around somewhere. It was a running joke - I even made a few random friends on planes, when they saw me setting up my audio gear pre flight… “Oh, what on earth is all that” - good times 😄
Einstellung basically says treat every problem like you’ve never solved that problem before… I think it’s a little different from trying something new..?
In any case, you are encouraging me to try a speedmaster….
…
..
…
..
….
No thanks!
Your loss...
Great read as always. Love the variety of subjects. Appreciate you brother.
Thanks B, appreciate you, and the time you took to read it and send a note. Have a wonderful weekend!
A nice slice of vleis 🫶🫶
Baie Dankie meneer ✊
An absolute leviathan of a read this week! …SDC becoming a weekly small fiction/non-fiction novel length tome! ….only have had time to check out one link (since I was mesmerized by dinosaurs at age 9) and just saw that Apex sold for a staggering $45 million, well over the 4-6 million estimate! So much good stuff as usual, wide ranging, disparate and stimulating 🤔 where can this all be healed 😳☝🏻👊🏼
Of course you would trump it referencing the Tanakh 😂 👏
Thanks, as always, for taking your time to read it. Appreciate you 🥂🥲
😬☝🏼
LV left me offa da list of peeps to wine and dine…. 😂
You seem upset by that. 😊