HODINKEE Podcasts

This week on The Business of Watches, we go behind the scenes with the man who compiles and crunches the numbers for the Morgan Stanley Swiss Watcher report, the most influential and widely read annual financial league table on the industry. Oliver Müller has been around the sector for some three decades, beginning his career at Omega before executive roles at a series of brands, including Laurent Ferrier, where he served as Chief Executive Officer. He's now a consultant to the industry and has helped shape brand strategy and positioning for the likes of Akrivia and Rexhep Rexhepi, among others.  Müller's most high-profile gig these days is compiling the estimates of Swiss brand revenue and volumes for the Morgan Stanley report. It's the top league table for the sector, and he tells us how he calculates and decides on the estimates that get published. Not everyone is a fan. Swatch Group has long criticized the report, now in its 9th edition, and Müller tells us why he believes Swatch and its leadership don't always appreciate the numbers. But first, Hodinkee founder Ben Clymer drops in for his Business of Watches debut. Ben tells us about his recent trip to Geneva and what he's hearing from some of the big brand executives. He also gives us his take on some of the data deep inside the Morgan Stanley report.  Show Notes  1:30 Ben Clymer (Hodinkee)  2:11 Watches of Switzerland Group 4:10 Gold price 4:42 USDxCHF 6:40 Audemars Piguet CEO Ilaria Resta Drives Double-Digit Sales Increase For Brand's 150th Anniversary Year 10:20 Cartier Santos de Cartier in Titanium (And Steel) — The Watches You Want From Cartier, Whether You Know It Or Not (Hodinkee) 12:55 Cartier's NSO – Or "New Special Order" –  Watch Program Is Over, At Least As We Know It (Hodinkee) 15:00 LuxeConsult (Oliver Müller) 15:15 Morgan Stanley 18:15 Richard Mille 18:34 Bucherer 24:13 When Banks Try To Unlock The Watchmaking Secret (Le Temps) (In French) 32:47 F.P. Journe  32:50 H. Moser & Cie. 37:30 MB&F 39:20 Raymond Weil 39:25 Frederique Constant 39:30 Christopher Ward 43:05 Jacob & Co. 44:00 How The Five Time Zone Shaped Modern Watch Culture (Hodinkee Malaika Crawford) 49:20 Tudor sales slump by 23% but Rolex turnover ticks up 5% to CHF 10.6 billion (Watchpro) 53:20 IWC 54:15  Jaeger-LeCoultre 59:20 Richemont Sells Baume & Mercier 1:01:30 Swatch Group Brands 1:06:20 Rolex careers and work locations including Biel / Bienne 

What's in a name? More specifically, what is a name worth? Gerald Genta, likely the most famous watch designer in history and responsible for conjuring iconic models from the Audemars Piguet Royal Oak, the Patek Philippe Nautilus, the IWC Ingenieur, and the Universal Geneve Polerouter, among others, sold his eponymous watch brand and name to what is now Bulgari and LVMH in the early 2000s. Then he started another brand - using his middle name instead of his family name - and that became Gerald Charles. It was sold to the Ziviani family in Italy in 2003, as Genta remained employed at the company as chief designer until his death in 2011. The brand continued producing mostly one-off, bespoke pieces on a small scale for wealthy clients until 2019, when Federico Ziviani, then in his early 20s, took over as Chief Executive Officer and pushed the Gerald Charles brand to a new phase. That would see it draw on designs from Genta's era with the company, most specifically the 'Maestro' case, and sell watches to consumers, first online and then through retailers. Production has climbed from about 200 watches a year to more than 1,500, and prices have climbed as well, to an average of about CHF 27,000, Ziviani tells us in an interview recorded at the company's operations in Geneva, where it has an atelier and a small museum that traces the history of the brand and its production. Ziviani is enthusiastic and passionate about the family-owned company that is now sold in about 100 retail stores globally. And he makes the case for why he thinks Gerald Charles watches deserve their hefty price tag. But first, we jump into some of the recent business headlines in the watch world. Rolex has consolidated its position as the dominant Swiss brand for watches priced above CHF 3,000 francs with more than 60% market share by sales, according to Swiss bank Vontobel. The bank also ranks the top brands by estimated sales, and we consider the list. And the Contrôle Officiel Suisse des Chronomètres, or COSC, is launching a new higher-tier standard to test the accuracy and precision of Swiss watches. We discuss what that might mean for the Swiss industry, brands, and customers. Show Notes 1:40 Rolex Trimmed Production In 2025 According To Swiss Bank Vontobel 7:06 Gold price (Yahoo) 7:30 Switzerland's COSC Unveils 'Excellence Chronometer' Level Of Certification 14:20 Gerald Charles 15:00 Gerald Genta (Wikipedia)  15:49 Gerald Genta Gefica Safari (Europa Star) 17:11 Audemars Piguet Italia (Bloomberg) 18:20 Giampaolo Ziviani and Gerald Genta (Instagram) 26:20 Gerald Charles website 27:30 Ticino, Switzerland (Wikipedia) 38:30 Gerald Charles Ambassadors 42:15 Swiss Made or Swiss Charade? (ScrewDownCrown) 45:00 Gerald Genta (LVMH) 46:30 Gerald Charles History48:00 USD x Swiss Franc (Yahoo) 

This week on The Business of Watches, we head to La Chaux-de-Fonds and sit down with a CEO that running a very different business than most watch brands. Mitchell Wein is the scion of a family that's been in the watch business for more than a century, and the Marathon brand launched back in 1939, supplying timing instruments for the Allied Forces in World War II. Selling watches, stopwatches, and clocks to governments and military organizations is still the bulk of Marathon's business these days. Wein says 80% of the watches they sell, by volume, are for these kinds of clients. For a company based in Toronto that makes its watches in Switzerland, that comes with a special list of challenges, particularly in the current geopolitical landscape, where conflicts are heightening, and more trade barriers are being erected. Marathon notably supplied the U.S. military with field watches during the Gulf War way back in the early 1990s, and even today, Wein says the company always has to be ready for a potential war and a potential big order from a military looking to outfit its soldiers with a watch able to withstand the rigors of modern armed conflict. But first, we're joined by another Canadian from the wide world of watches. Hodinkee Editor-in-Chief, James Stacey, drops in to talk about a recent trip to Japan and the launch of the Louis Vuitton X De Bethune LVDB-03 Louis Varius Project, a very exclusive travel watch that, if you're in the right price bracket, comes with a Sympathique clock that serves as a docking station to wind and set the watch. Show Notes: 2:04 Introducing The Louis Vuitton X De Bethune LVDB-03 Louis Varius Project (Hodinkee) 5:16 Denis Flageollet 6:40 F.P. Journe Reveals Why He Paid More Than $6 Million For A Breguet Clock He Designed 9:30 Hands-On: The DB25 Starry Varius (Hodinkee) 11:01 Exclusive: Hermes heir takes aim at LVMH's Arnault in missing shares civil lawsuit, court document shows (Reuters) 13:02 Travels With A Marathon Watch In Search Of Adventure (Cole Pennington, Hodinkee) 13:40 The Marathon Navigator – Now With A Steel Case! (Hodinkee) 14:30 Marathon X Jeep 18:00 Marathon Our Story (Marathon) 26:00 Comparison of Marathon Navigator Steel vs. Plastic (You're Terrific YouTube) 30:02 Doxa 34:15 Marathon Limited Edition ADANAC Stainless Steel Navigator Pilot's Automatic 40:05 Electromagnetic Pulse (EMP) Following a Nuclear Detonation (U.S. Dept. Health and Human Services) 42:16 IntroducingThe Marathon Navigator 'Blue Yonder' Limited Edition (Hodinkee) 48:11 NATO Stock Numbers (Wikipedia) 1:02:30 Robertson Screw (Wikipedia) 1:10:12 Marathon Clocks (Amazon) 

On this week's episode of The Business of Watches, a brand that's very much in the news. We're in Meyrin, just outside of Geneva, to talk to the head of Baume & Mercier, the near-200 year old brand that's just been sold by Richemont to Italy's Damiani Group. Michael Guenoun speaks passionately and with conviction about the pressures the brand faces due to the strong Swiss franc, rising costs, and its commitment to remaining in the approachable-priced segment of the watch market. Guenoun highlights the brand's rich history, its model lines, and its strategy for retail, distribution, and pricing. Recorded before the sale of Baume & Mercier was announced officially, we asked him if the brand was up for sale, and his answer is worth tuning in for. The conversation gives the listener a sense of where Guenoun and his team expect the brand to be and achieve under new leadership for a deal that's still short on details, but is expected to close this summer and take Baume & Mercier under a new corporate umbrella with a company that is based in Italy rather than in Switzerland like Richemont.But first, we're joined by a very special guest for his take on the latest business headlines in the watch world. Adrian Barker is the man behind Bark & Jack - the popular and influential YouTube channel and accessories shop selling straps, coffee mugs, and other products.  It's a big moment for Adrian as he's just about to launch his first watch collaboration - a dive watch with U.K. brand Christopher Ward. Adrian gives us the lowdown on what he learned from the collaboration process with the watchmaker and what he's doing with the design to make this very much an expression of his own personal taste and philosophy on what makes a proper watch. We also talk about Patek Philippe's recent decision to roll back prices in the U.S. in response to lower tariff rates, while implementing another price increase in other markets. Show Notes 0:57 Adrian Barker and Bark & Jack 1:34 Visit Glasgow 2:23 Christopher Ward 3:11 ETA SA 5:00 The story of Christopher Ward and CEO Mike France 9:20 Who Makes Christopher Ward Watches (Bark & Jack) 12:08 Bark & Jack products 14:05 Patek Philippe 17:37 Richemont Sells Baume & Mercier 20:04 Damiani Group 22:55 Michael Guenoun (World Tempus) 23:30 History of Baume & Mercier 25:25 Riviera collection (Monochrome) 26:51 Clifton Baumatic 28:00 Baumatic movement (Caliber Corner) 38:30 TimeVallee 45:30 As China Retreats And The U.S. Wobbles, Is India The Next Great Hope For The Luxury Watch Market? 49:20 Richemont maisons 53:55 Who wants to buy Baume & Mercier and why?55:04 Watches and Wonders 2026  

On this week's episode of The Business of Watches, we head to Nidau, Switzerland, where we sit down with Ben Küffer, the young Chief Executive Officer of family-owned watch brand Norqain. It's a frank discussion of the challenges of starting a brand and creating a signature watch–the Norqain Wild One–at a time when the industry is crowded with competitors, and it's tough to stand out. We focus on Norqain's unique strategy of recruiting former and current professional athletes as not only brand representatives, but also investors and executives. The big news is Norqain's deal to be the official luxury timepiece of the National Hockey League, an agreement guided by former NHLer and Norqain co-founder Mark Streit with some help from superstar and company investor Sidney Crosby of the Pittsburgh Penguins. We also discuss the surprise success of Norqain's 'Enjoy Life' Freedom 60 chronograph that struck a chord with consumers with its ice cream-themed colors and endorsement by Mark Wahlberg to become the brand's top-selling watch. Despite that success, and perhaps in a bid to play the scarcity card, Norqain now says it plans to discontinue the model, at least for now. But first, we're joined by TanTan Wang, who is back from Colorado, and some quality time with Oris's new Big Crown Pointer Date 'Bullseye.' We also talk about the recent headlines in the watch world, including the proposed sale of Richemont's Baume & Mercier to Italy's Damiani Group, as well as Omega's very commercial 300M diver, which it is launching for the Milano Cortina Winter Games. Show Notes 1:57 Oris Big Crown Pointer Date Bullseye 3:15 TanTan's essay and the fight against watch snobbery 3:47 Richemont Sells Baume & Mercier 5:43 Omega Releases A White Ceramic Seamaster 300M For Milano Cortina 2026 9:40 Norqain 10:22 Mark Streit 11:10 Norqain Scores Multi-Year Sponsorship Deal With NHL Aimed At Vaulting Swiss Brands To The Big Leagues 12:03 Sidney Crosby Partners With Watch Company Founded By Former NHLers (ESPN) 18:00 Talking Watches With Jean-Claude Biver 19:55 Norqain Wild One 20:25 BIWI SA 26:00 Hands-On with the Norqain Wild One (Fratello) 30:40 Hands-On With the Norqain Freedom 60 40mm Enjoy Life (Fratello) 35:55 Norqain Independence Skeleton Chrono 42mm 37:31 Swiss watch export statistics 39:44 Swiss watch industry employment 45:00 Stan Wawrinka 51:30 Norqain world and values 

On this week's episode of The Business of Watches, we wrangled some time with someone who was born into the world of the Swiss watch industry but who has taken an outsider's path to business success. Manuel Emch is the managing director of Louis Erard and also one-third of the radical upstart micro-brand Kollokium. We sat down last year, and Emch outlined his circuitous route and unique approach to building and selling watch brands. But first, Hodinkee Magazine's editorial director Malaika Crawford drops in to give her take on Louis Vuitton's latest novelties and La Fabrique du Temps with a behind-the-scenes look at the atelier and its skilled artisans and craftspersons. Plus–what is Rolex telling us with its latest group of Hollywood testimonees? Show Notes 1:35 LVMH Watch Week 2026 2:15 La Fabrique du Temps8:30 New Rolex Testimonees in 2025 11:00 Louis Erard 11:20 Kollokium 12:00 Grenchen, Switzerland13:26 HEC Lausanne16:00 Nick Hayek Sr. 18:19 Jaquet Droz (Hodinkee) 22:50 Jaquet Droz website 27:30 Romain Jerome  36:20 Louis Erard (Hodinkee) 45:20 Louis Erard x Alain Silberstein 54:00 MB&F 58:10 Swatch AI Dada 59:45 Kollokium (Hodinkee) 1:02:00 Kollokium short film 1:07:10 Tupperware 1:13:07 Louis Erard Regulator

On this week's The Business of Watches, we head to Villeret, Switzerland, and the storied Swiss watchmaker Minerva. The brand, founded in 1858, is truly the jewel within Montblanc's watchmaking division, which itself is part of Swiss luxury conglomerate Richemont. Laurent Lecamp is the man leading Montblanc and Minerva's watchmaking operations, and he sat down with us for a detailed discussion on Minerva and what he's doing to satisfy the clients that he calls "fans" and not customers. Montblanc and Minerva won't be participating in Watches and Wonders this year, and Lecamp outlines the different paths that the brands are taking within the Richemont group. He also talks about his penchant for running extreme marathons, sometimes wearing a Minerva or Montblanc timepiece. But first, a new format to start the show. We're joined by Hodinkee senior business editor, Mark Kauzlarich, to chew over some of the business headlines making news in the watch world. We talk about potential executive changes in the top job at TAG Heuer and also discuss what we think the business strategy might be behind Omega's new Speedmaster that boasts a ceramic bezel, lacquered dial, and a new price tag. Show Notes 0:30 Montblanc / Minerva 0:45 Audemars Piguet And Ten More Brands To Join Watches And Wonders For 2026 1:00 Minerva Is The Watchmaking Jewel Within Montblanc And Showcases Its Talents With A New Art Piece (Hodinkee) 2:00 Business Montres 3:50 TAG Heuer 5:20 LVMH Watches and Jewelry 7:10 Jean-Christophe Babin (Instagram) 8:50 The Omega Speedmaster Professional Moonwatch Black & White (Hodinkee) 12:00 Hands-On The Omega Seamaster Planet Ocean For 2025 (Hodinkee)15:30 Villeret, Switzerland 16:36 Laurent Lecamp (Instagram) 17:40 GIA (Gemology Institute of America) 19:50 Cyrus Watches23:00 Example of Minerva bezel 26:00 Montblanc's New Minerva Monopusher Chronograph (Hodinkee) 28:20 Montblanc Club M58 (Watchonista) 43:12 Montblanc Star Legacy Suspended Exo Tourbillon Château de Versailles (YouTube)48:10 Richemont 51:00 Montblanc Ice Marathon (Revolution) 

On this week's episode of The Business of Watches, we sit down with the principals of Horologer Ming and there is plenty to talk about. Founder and creative head Ming Thein explains his unique design and engineering process, while Chief Executive Officer Praneeth Rajsingh discusses financial challenges and financing solutions the small company has utilized to keep the business humming. We dive deep into the manufacturing process of the titanium, 3D-printed Polymesh bracelet that has the watch world buzzing, get an audio-only sneak peek at an upcoming release, and also hear about plans for a value-priced subsidiary brand they have in the works.We hope you enjoy the conversation. There is a lot to unpack! Be sure to leave any thoughts or questions in the comments section, and we'll do our best to respond.Want to subscribe so you never miss an episode? This new show is being published to the original Hodinkee Podcasts feed, so you can subscribe wherever you find your podcasts, including Apple Podcasts, Spotify, or TuneIn.Show Notes4:50 Dubai Watch Week6:47 Ming and the Alternative Horological Alliance10:30 Computer Aided Design12:20 Ming Polymesh 33:20 Apple Watch39:00 Accredited Investor 42:20 Project finance 49:25 Swiss watch CEOs talk about component suppliers54:00 Ming 17.01 (Hodinkee)

On this week's episode of  The Business of Watches, we sit down with Ilaria Resta, the Chief Executive Officer of Audemars Piguet.  Among the strategically important years in the brand's 150-year history, 2025 may rank among the most significant. Not only did it mark a century-and-a-half anniversary, it demanded a strong and determined leader to navigate through a mille feuille of challenges. Amid U.S. tariffs, record prices for gold, an extremely strong Swiss franc, and an overall downturn in market demand, Resta and her team from Le Brassus grew sales by double-digits, up 12%, as of the end of October compared to the year before, according to the brand. That's more than CHF 2.3 billion in sales, according to analyst estimates. That's no small achievement considering the extraordinary headwinds facing the industry. Overall, Swiss watch exports are set to decline for the second year in a row in 2025. Under Resta's leadership, AP is bucking the trend and then some. In this episode, we talk about the notable product releases from AP this year, including its innovative perpetual calendar and the highly wearable, groundbreaking RD#5; how she intends to manage production; the evolution of the brand; and possible changes to model lines. A long-time senior executive in the consumer goods industry, Resta discusses what makes the watch industry unique and what it needs to do to appeal to the next generation of clients.Show Notes3:50 Audemars Piguet at Dubai Watch Week5:27 AP Perpetual Calendars in 38mm 7:50 Book round-up featuring Audemars Piguet The Watch 9:10 Swiss Watch Exports11:52 Royal Oak Offshore 15:30 Audemars Piguet says CEO Staying (BoF) 17:33 AP Certified Pre-Owned 19:30 Dubai Watch Week CEO Roundtable 22:25 A Plea For Proportionality (Hodinkee) 

On this week's episode of The Business of Watches, a frank discussion with one of the most powerful women in the world of horology. Hind Seddiqi is the Chief Executive Officer of Dubai Watch Week, an event that's grown and matured to become one of the few truly top-tier events on the watch sector calendar. As CEO of the biennial gathering, Seddiqi oversees the team that decides which brands get to exhibit their wares, which executives and collectors get to speak on the industry panels, and exactly how the massive show is staged, presented, and organized. This year's Dubai Watch Week was the most successful edition yet and marked a new era of international profile for an idea launched a decade ago by the United Arab Emirates retailer Ahmed Seddiqi as a way to showcase watchmaking and inform locals about the industry. Housed in a new, larger, and purpose-built venue near the Burj Khalifa, Dubai Watch Week 2025 welcomed a record 49,000 visitors this year, a 113% increase from the previous edition. The event, marking the 75th anniversary of the Seddiqi family retail empire, saw a wave of collector groups fly in from around the world to attend a show that offers up close and personal access to many of the biggest names in watchmaking, from Max Büsser to Roger Smith, to Rexhep Rexhepi, and the CEO of A. Lange & Söhne, Wilhelm Schmid. Hind Seddiqi says one of her biggest challenges now is preserving the casual, spontaneous, and intimate feel of Dubai Watch Week as demand for a place at the table continues to rise. She talks about Dubai, its torrid growth (and punishing traffic) and the city's increasingly important role in the international economy and how she plans to manage the demands and expectations of a massively popular event. Want to subscribe so you never miss an episode? This new show is being published to the original Hodinkee Podcasts feed, so you can subscribe wherever you find your podcasts, including Apple Podcasts, Spotify, or TuneIn.Show Notes: 3:08 Dubai Watch Week4:32 Ahmed Seddiqi 5:03 A Rare Look Inside The Incredible Collection Of Mohammed Seddiqi At Dubai Watch Week9:09 Dubai Watch Week Masterclasses10:31 Audemars Piguet "House of Wonders" at Dubai Watch Week 12:15 Dubai population growth (Gulf News) 16:05 Francis Ford Coppola's Personal 'FFC' Sells for $10.755 million, The Most Expensive F.P. Journe Ever Sold17:30 Dubai Mall 20:50 Rolex CEO Says Brand Won't Significantly Expand Own Retail And Will Continue To Work With Authorized Dealers23:15 Top Swiss Watch CEOs Talk Leadership And Strategy Amid Industry Challenges At Dubai Watch Week26:30 Tudor Launches New Ranger In 36MM At Dubai Watch Week  

James Lamdin is a sage voice of reason and experience in the vintage watch market. He's earned those titles through his years in the business. A co-founder of the OG collector meetup RedBar Group, Lamdin went on to found Analog Shift, the vintage and pre-owned dealer acquired by Watches of Switzerland (also the parent company of Hodinkee) in 2020. In a conversation recorded live in front of an audience at UBS House of Craft in New York City in October, Lamdin breaks down the vintage and pre-owned watch market, how we got here, where we've been, and where we're likely going. He also gives plenty of useful insight on what it means for a second-hand watch to be truly authenticated and how collectors need to stay curious to get the most out of their watch-collecting journey. Lamdin proves himself a wealth of knowledge when it comes to used timepieces and what anyone should be thinking about when they're considering buying pre-owned. We had a blast recording this episode, especially taking questions from the audience. Be sure to leave any thoughts, comments, or questions in the comments, and we'll do our best to respond. Show Notes00:30 James Lamdin and Analog Shift 2:00 Bloomberg.com4:15 The Biggest Ever Boom In Swiss Watches is Coming to an End4:45 Watches of Switzerland Group USA Acquires Analogue Shift6:09 Secondary Market Rolex and Patek Price Rise, Fall and Recovery10:00 U.S. Tariffs Impact On Secondary Market 12:11 Under The Radar: American Watches16:00 RedBar Group 20:40 Omega Speedmaster Professional 23:00 Rolex Certified Pre-Owned 25:15 There are not enough watchmakers 35:54 Secondary Watch Market To Top New Sales By 2033 At $85 Billion 39:13 Neo Vintage Watches 41:01 The Military Industrial Complex 44:24 Cartier Tank Americaine Diamond 48:31 Ebay Authentication For Watches  

On this week's episode of The Business of Watches, we're doing something a little different. We're taking your questions, and we've got a special guest as Hodinkee Editor-In-Chief, James Stacey, joins the podcast to help answer your queries on the business side of the dial. We hit a lot of topics, from the best perpetual calendars under $20,000, to rising watch prices, the recent surge in Swiss watch exports to the U.K., and just how popular is Halloween in Switzerland? It's a fun episode, and we hope you enjoy it. Be sure to leave any thoughts or questions in the comments section, and we'll do our best to respond. Want to subscribe so you never miss an episode? This new show is being published to the original Hodinkee Podcasts feed, so you can subscribe wherever you find your podcasts, including Apple Podcasts, Spotify, or TuneIn.This episode of The Business of Watches is brought to you by Panerai. Click here to learn more about the Luminor Collection.Show Notes:2:30 How Halloween Became Part of Swiss Culture 3:20 William Friedkin's Sorcerer5:20 Simon Brette  5:25 Akrivia / Rexhep Rexhepi 6:10 MB&F 8:05 Sylvain Berneron 9:30 Omega Watches13:00 Omega Speedmaster Professional (White dial)13:30 New Speedmaster Dark Side of The Moon 15:40 Niels Eggerding interview16:20 FC Classic Perpetual Calendar 16:50 Furlan Marri Perpetual One18:00 Jaeger-LeCoultre Master Ultra Thin Perpetual Calendar18:30 Montblanc Heritage Perpetual Calendar 19:30 IWC DaVinci Perpetual Calendar Ref. 3750 (Fratello)19:40 Panerai 22:10 Swiss Watch Export Statistics 29:00 What Richemont and Swatch Financial Results Tell Us About The State of The Swiss Watch Industry35:40 Tissot PRX Powermatic 80 38 MM in Damascus Steel (Hodinkee) 35:45 Longines 35:54 Sinn Watches 

On this episode of The Business of Watches Podcast we drop in on Niels Eggerding, the CEO of Frederique Constant (and sister marque Alpina), at the brand's headquarters in Plan-les-Ouates, Switzerland near Geneva. Eggerding has been in the corner office since 2018 and has steered FC through a series of challenges and triumphs during his time leading the company. The Dutchman has brought more high horology and cool collaborations to the value and volume-driven brand, including perpetual calendars and tourbillons as well as more precious-metal cases. But it's a delicate balance for Frederique Constant as value-priced watches still account for more than 90% of its production volumes. Amid rising input costs and a strong Swiss franc, not to mention the challenge of U.S. tariffs, Eggerding's biggest challenge is maintaining FC's value proposition while burnishing its reputation as a serious watchmaker able to produce high-end timepieces. At the same time, he has to keep delivering sales and profit for the brand's owner, Citizen of Japan.  On this episode of The Business of Watches Podcast, we drop in on Niels Eggerding, the CEO of Frederique Constant (and sister marque Alpina), at the brand's headquarters in Plan-les-Ouates, Switzerland, near Geneva.We hope you enjoy our conversation with Niels Eggerding. Be sure to leave any thoughts or questions in the comments section, and we'll do our best to respond. Want to subscribe so you never miss an episode? This new show is being published to the original Hodinkee Podcasts feed, so you can subscribe wherever you find your podcasts, including Apple Podcasts, Spotify, or TuneIn.Show Notes:4:10 Frederique Constant Worldtimer 5:00 FC Classic Perpetual Calendar 5:31 Company history and milestones6:00 Vacheron Constantin7:30 Citizen8:30 La Joux-Perret 10:15 LJP solar quartz movement in Tag Heuer 12:30 Manufacture collection 12:45 Highlife collection16:00 New manufacture QP in 40mm case22:00 FC Women's collection23:23 FC Manchette 28:00 U.S. tariffs and watch prices43:00 FC YouTube channel 

On this week's The Business Of Watches podcast, we catch up with Antoine Pin, the Chief Executive Officer of Tag Heuer. He's having quite a year. The brand is in the first season of a new decade-long deal to be the official timekeeping sponsor of Formula 1. It's a high-profile, multi-brand agreement that, if executed correctly, could launch Tag Heuer to a whole new level of visibility. But it also comes at a challenging time for the global economy and the watch industry in general as soaring input costs, a strong Swiss franc, and U.S. tariffs on Swiss goods take a toll on margins and confidence.Pin tells us Tag Heuer has plenty of experience overcoming tough challenges. When the brand launched the first version of its carbon hairspring technology in 2019, there were issues. But the Tag Heuer laboratory didn't give up, and now it's back with a new version, which it says has overcome the problems. We hope you enjoy our conversation with Antoine Pin. Be sure to leave any thoughts or questions in the comments section, and we'll do our best to respond.Want to subscribe so you never miss an episode? This new show is being published to the original Hodinkee Podcasts feed, so you can subscribe wherever you find your podcasts, including Apple Podcasts, Spotify, or TuneIn.Show Notes: 4:10 Tag Heuer at Geneva Watch Days 6:48 Previous issues with carbon9:00 New carbon spring oscillator solution11:10 Silicon hairspring13:00 Tag Heuer Formula 1 15:15 Cautious production20:00 Tag Heuer Monaco Split-Seconds Chronograph (CHF 155,000) 25:30 Tariffs and price increases 

Georges Kern is emphatic. The Breitling Chief Executive Officer isn't slowing down on plans to expand his company's reach. Even as U.S. tariffs and economic headwinds challenge the industry, Kern is pushing ahead with planned launches of the Universal Geneve and Gallet brands in 2026. He's already orchestrated rapid growth and value creation at the historic Breitling marque since taking on the top job in 2017. Breitling was sold to private equity partners for less than a billion dollars that year. In late 2022, a change in majority shareholder valued the company at more than $4 billion, sources said at the time.  But now with the industry facing a host of economic and political pressures, Kern's expansion efforts are being tested. In a candid interview, he says the luxury watch industry is poised for an eventual rebound. People won't delay purchases forever, he says, and when they're ready, he expects his growing stable of brands to have the right products to match the wants and needs of new clients.Show Notes:Show Notes:5:00 Breitling's deal with the NFL 5:50 Breitling watches6:00 Morgan Stanley LuxeConsult Watch Market Report 7:10 Breitling Emergency 8:00 Breitling Top Time10:21 Breitling Navitimer 15:30 Panerai 18:15 Breitling to Relaunch Gallet22:30 Universal Geneve 26:10 Hermés Bags 27:00 Price of gold 29:40 How the Swiss watch industry is dealing with tariffs 32:20 What's up with watch prices? 34:30 Swiss Watch Exports 35:40 China Watch Market 38:10 Carpe Diem 

Sylvain Berneron is in high demand, and so are his watch designs. Just last week, a 34-millimeter version of his debut time-only watch, the Berneron Mirage, came up for public auction for the first time, and bidding soared beyond the CHF80,000 high estimate to fetch a staggering CHF241,300, including fees. Having previously worked in the automotive industry with BMW, Berneron is a designer who has now chosen watchmaking as the canvas to express himself and his ideas. After departing the big brand corporate atmosphere of Breitling, he's enjoyed significant success so far with his own brand and has just unveiled his second collection - Quantième - and an annual calendar that brings a unique, yet superbly finished, movement architecture to the complication that aims to simplify setting and provide a stress-free experience for the user. Sized at just 38 millimeters in diameter and 10 millimeters thick, the dial design is both stunning and innovative in the way the time and date are displayed, while the platinum case features removable (and replaceable) steel elements that act as bumpers and guards for the precious metal. But this podcast is about business, and Berneron indulged us with a lengthy, candid, and exceedingly in-depth discussion about his plan for building a brand and sustainable company that bears his family name. He tells us why he's set up shop in a Swiss industrial park, the business strategy behind limiting production to less than 25 of each specific watch per year, and why he's turned down creative jobs at Rolex and tens of millions of dollars in financing from potential investors despite having barely a holiday or weekend off for the last half-decade. It's a deep dive into the business strategy and plan of a young, driven, red-hot watch brand that's trying to make it for the long haul. We hope you enjoy. Show Notes:3:20 Berneron Quantième Annuel 4:45 Berneron SA 6:20 Panerai manufacture in Neuchatel 13:00 BMW Research and Innovation Centre13:40 Breitling 18:20 Ben Clymer on founding Hodinkee and a professional life in watches24:00 White label watch manufacturers in Switzerland include companies like Roventa-Henex 25:50 Swiss watch components makers include companies like Acrotec, the biggest supplier 32:15 Breitling Sells Controlling Stake to CVC Capital32:50 Nicolas G. Hayek Sr. 40:20 Building Resilient Teams: What Business Can Learn From Military Cohesion 42:20 Employee Share Plans In Switzerland: A Regulatory Overview47:00 Long-term commercial lease agreements in Switzerland: An Overview49:00 Panerai 51:10 Hands On Review Of The Berneron Mirage59:30 Family Offices 1:11:00 Mountain Survival Tips for Beginners1:12:03 Audemars Piguet Buys Key Supplier1:16:30 GPHG Audacity Prize Awarded to Sylvain Berneron1:17:00 Why Using Your Last Name Is The Last Way To Name Your Company (Forbes)1:18:56 Business Ethics Key Principals (Investopedia) 1:19:02 Simon Sinek 1:21:35 The 7 Habits of Highly Effective People1:23:10 MB&F1:23:20 Simon Brette1:23:25 Xhevdet Rexhepi 1:23:28 Rexhep Rexhepi 1:23:30 Petermann Bédat1:24:50 When Art Is Putting Yourself In Danger (CBC) 1:26:30 The Art of War (Sun Tzu) 1:27:06 Trust The Process (Simon Sinek) 1:31:49 The Transformative Power of Sabbaticals (Harvard Business Review) 1:37:00 Luxury and Socially Valued Behavior (Columbia Business School)1:38:05 Germany's Car Industry Crisis 1:39:00 Hans Wilsdorf Foundation 1:41:00 Inside Rolex (Ben Clymer)1:45:00 Patek Philippe Calatrava Collection1:45:45 Fiasco (Wikipedia) 1:46:20 Batman Two-Face 1:53:00 Fathers Give Watch Collecting Advice (Hodinkee)1:55:20 Christopher Ward1:55:45 Swatch Group 1:58:00 MoonSwatch Phenomenon (Hodinkee)

Welcome to the first episode of a brand new podcast for Hodinkee. It's called The Business of Watches, and it's hosted by me, Andy Hoffman. Each episode, delivered once every two weeks, will feature conversations with authors, CEOs, industry insiders, and fellow journalists as we uncover the business behind your favorite watches and watch brands. Want to subscribe so you never miss an episode? This new show is being published to the original Hodinkee Podcasts feed, so you can subscribe wherever you find your podcasts, including Apple Podcasts, Spotify, or TuneIn.Episode 01 - Rolex, The Making Of A Status Symbol With Author Pierre-Yves DonzéNotoriously secretive when it comes to its operations and accounts, there haven't been a lot of business-focused books on Rolex, the biggest and most successful Swiss watch brand. At least until now, that is. Academic and professor of business history at Osaka University, Pierre-Yves Donzé is the author of The Making Of A Status Symbol, A business history of Rolex translated and published in English this year.  We wanted to start our new podcast, The Business of Watches, by talking about the most important Swiss brand, and Donzé serves as an ideal guest, explaining the decisions and events that shaped Rolex into what it is today. The episode is full of revelations, from how Rolex dealt with the business challenges of a strong Swiss franc and the arrival of quartz, to how the brand overtook Omega in sales, and the critical role the U.S. has played in the company's history and success. Thanks so much for listening, and be sure to drop by the comments section if you have any thoughts or questions on the episode. We'll be back in two weeks with another episode of The Business of Watches. If you have any questions for an upcoming Q&A episode, please leave them in the comments below. This episode of The Business of Watches is brought to you by Panerai. Click here to learn more about the Luminor Collection.Show Notes: 3:40 The Making Of A Status Symbol, A Business History of Rolex (Manchester University Press)5:25 Pierre-Yves Donzé7:25 Rolex 10:30 Hans Wilsdorf15:00 Rolex Kew A16:01 COSC18:10 Aegler SA and Rolex20:50 UK taxation during WWI24:30 Rolex Oyster case26:00 Panerai 28:05 Rolex company history 1926-194530:50 Rolex Cosmograph Daytona32:00 André Heiniger33:50 Hans Wilsdorf Foundation35:20 Rolex Explorer Ad 1960s (Ad Patina)36:38 J. Walter Thompson 39:20 Arnold Palmer (Rolex Magazine)40:30 Mark McCormack 43:30 Omega 45:00 Placido Domingo 47:00 Rolex Oysterquartz51:26 Rolex Lady-Datejust53:30 Rare interview with Rolex CEO Jean-Frédéric Dufour about Watches and Wonders (NZZ)1:00:30 Rolex Land-Dweller Business History

It's the last day of the show, and James is joined by Malaika, Mark, and Tim to discuss our general impressions of the show, Tim's experience as a first-timer, and some of the highlights we saw from a day full of meetings with Sinn, Bulgari, Laurent Ferrier, Parmigiani, and more. We hope you loved the episodes, and if you want more podcasts about the fair and all the new watches, let us know in the comments.

For the team's third day at Watches and Wonders, James is joined by Rich, Malaika, and Tim to talk over our highlights from another full day of fun at the fair. We get into everything from the latest Panerai models and the new (and very bleu) execution of the Chanel J12 to some deeper picks from Cartier and James' experience with a fun and colorful new travel-focused Club Sport model from Nomos.

We're back with Day 2 at Watches and Wonders as Ben, James, TanTan, and Mark recap another great day at the show and feature a fascinating conversation with Matthieu Humair, the CEO of Watches and Wonders Geneva Foundation.From the new Tag Heuer Formula 1 and the most complex wristwatch ever made to our hands-on experiences at Tudor and Rolex, it's a varied show with a wide range of watches (and some rather interesting tidbits about the show and its logistics).