Many players in the watch game, new or well-established, that used to work in the mid-range sector, have seen the pot of gold at the end of the luxury rainbow. For many, the access to the world of luxury, until now well-protected, was either through the addition of a mechanical movement, preferably one labelled ETA, or through the addition of precious stones, preferably diamonds. A rapid analysis revealed many advantages of being active in this sector, namely heightened prestige, greater margins, increased profitability, and a reaffirmed brand name.

From their side, the large traditional, long-established luxury brands began to cry wolf when seeing their legitimacy threatened from all directions. According to them, these noisy new upstarts had nothing to do with 'veritable' luxury, which should not be confused with a 'common' move upmarket. The 'veritable' luxury sector implies rarity, and the new aspiring 'first class passengers' are not to be confused with the 'owners of private jets', even if, at the end of the flight, they all share the same tarmac.



Confusion

The generalized move upmarket has resulted in a great deal of confusion. It also involved a flood on the market, with serious consequences. For Swiss watchmaking, it also ran the additional risk (although masked by immediate profit) of the gradual abandon of the mid-range market segment (without even mentioning the quasi definitive abandonment of the low-end sector). There were also serious risks for the future domination by the Swiss of the watch industry.

End of a cycle

Beginning in 2001 and continuing more markedly in 2002 and 2003, the move into the luxury sector started to meet its most important obstacles, that is, the economy and History. Added to the economic slowdown and fear of recession were the increasing tensions of globalization, fears of terrorism culminating in the 9/11 attacks on New York and the Pentagon, which then resulted in the wars in Afghanistan and Iraq. On top of all this, the gigantic financial scandals have shaken investor confidence to the core. According to all appearances, a cycle was ending and the world and the economy were entering into a new phase, marked by scepticism and weighed down by growing doubts.



New values

The great Luxury phase during the preceding years was primarily generated by the growth of the economic bubble, which if it has not totally burst, is gradually deflating. Whether the economy recovers or not, it is a safe bet to say that new 'values' will dominate the future landscape.

The total lack of concern, blatant greed, and a desperate quest for short-term profit are giving way to other 'values'. New demands for transparency, ethics and responsibility are being heard. The chaos of globalization, the persistent political tensions, the alarming state of our planet, growing poverty, and social regressions are being felt more and more. Faced with this new situation, how can the world of luxury, which by definition is 'frivolous', answer the call?



Apparent contradictions

When looking at the latest watch models of the luxury sector, one is struck by an obvious fact. Luxury watches are becoming more and more 'outrageous'. While we might expect increased rigour, adapting to the political and economic situation, what we are seeing is actually just the opposite. Watches now are made with a flurry of colours and shapes, often flirting with 'bad taste'.

Herein lies the paradox of appearance. What did we see most often in the flamboyant period of 'easy money' during the reign of 'traders' and other 'yuppies'? Well, contrary to the unbridled ambience of the time, it was minimalism that ruled. Pure geometric forms, sombre colours and the rigour of stainless steel dominated the marketplace of time. But, today the economy is not doing so well. The flamboyance of the past is over. So, we should expect to find increased severity in luxury watches, right? Well, wrong. The current situation is one of exuberance and extravagance.



The world turned upside down

Superfluous by nature and by its very essence, luxury therefore expresses the 'reverse' side of the 'normal' world. As an example of what we are talking about, let's take the case of what luxury is to a woman living under strict Islamic law. For her, luxury means wearing extremely refined and elegant undergarments that are hidden by the total austerity of her chador.

Does this example seem 'politically incorrect' to you? Well, it is exactly this concept that made Geneva the world capital of watchmaking luxury. Because the reformist Calvin banned all obvious displays of jewellery, the 'need' for luxury found refuge under the covers of pocket watches, which then gave birth to the great jewellery tradit-ion of Geneva timekeeping.

Luxury is obligatorily transgressive. To be luxurious, an object must be counter-current. It is minimal when the period is ostentatious and ostentatious when the period is severe. It is not surprising then that today's trends are towards exuberance!



'Not Bourgeois'

One of the most recent examples of this paradox was the recent grand launch by Boucheron. An immense banner proclaiming 'NOT BOURGEOIS' covered the store's façade on the Place Vendôme and '18,000 baccarat roses were brought from Holland for the event, under the sign of the bestiary and Bohemian extravagance, in the image of its grey gold bracelet woven like a fishnet, then torn like the stockings of a dancer…'

By displaying the provocative slogan 'Not bourgeois', evoking aristocratic and Bohemian protestations, Boucheron reaffirmed its 'luxur-ious' difference from those common mortals caught up in the daily bourgeois worries about the increasingly harder job of making ends meet each month. Making this distinction today means the negation of classic values as seen in the woven grey gold bracelet – a work of art – that will then be torn!

Let's have a look at several of these 'transgressions' that make up the latest models of the most luxurious mechanical and jewellery watches.



The Rubber Royal Oak Offshore

Audemars Piguet had already outdone itself in extravagance with the 'Offshore' model of its famous Royal Oak collection, but its latest ladies' model set with stones exceeds anything the traditional Swiss brand dared to propose up to now. With this piece, the brand has gone beyond its famous 'good taste'. The striking coloured rubber bracelet (royal blue, bright orange or anthracite grey), the bezel set with 32 diamonds interspaced between the eight octagonal screws, the guilloché dial bearing an 'extra large tapestry' design in sky blue, light apricot or silver cream all make for a very extravagant timepiece. It may very well become the emblem of a new dominant 'post Baroque' trend that totally mixes the genres by combining haute horlogerie, sports, water-resistance, new materials and settings, colours, radiance and glamour.



The variations of Piaget

Piaget, which up to now has been more or less in the neo-classic arena, is proposing a series of models that, each in its own way, has gone beyond its earlier limits. Forms, lines, choices of materials, even to the manner in which the watch is worn have been revisited and transformed.

Colours are bold as seen in the variations of the famous Polo collection whose dials are cut from lapis lazuli of a very rare intensity of blue (for men) or from deep mauve jasper set with diamonds (for women).

The Miss Protocole line has undergone all possible and imaginable treatments. Adorned with drops in the shape of links, it wraps around the arm just below the shoulder or can be transformed into a necklace.

However, it is the treatments and transformations conceptualized by students from seven of the world's greatest design and fashion schools that are the most surprising. The top award certainly goes to 'Bunka Fukuso Gakuin' from Tokyo, whose three students proposed an improbable combination of a multi-coloured silk kimono traversed by pearl-strung filaments to which is suspended a Miss Protocole at the end of a long red leather bracelet. An unlikely meeting of East and West, this piece is a rare and artistic prototype rather than an actual model in the collection, but its creativity is noteworthy and revealing.



The ecstasies of Roger Dubuis

Carlos Dias, head and 'chief couturier' of the young watch manufacture Roger Dubuis has greatly succeeded in the domain of the 'audacious'. He dared to introduce a watch such as the very recent 'FollowMe', which was received by general amazement at the last SIHH.

In the shape of a cross, elongated with two leather bracelets, there is a profusion of all sorts of ornamentation. The cruciform case is not only curved but is set with a row of 104 diamonds. In one of its most extravagant models, it is set with 38 baguette diamonds along with 115 diamonds on the side of the case. The colours have not taken a back seat either, coming in yellow, violet, rose, orange on the guilloché dials and decorated with enormous numbers like a slot machine. While the 'FollowMe' has certainly been a media success, it is too early to say if it will be embraced by the public (although it seems as though it will be). One thing for sure is that this ultra-baroque piece has carved out a place for itself in the history of the most extravagant shapes in watchmaking. Is it just by chance that it has come to light today?



The pioneering de Grisogono

That de Grisogono is proposing coloured variations of its watch collections should not surprise anyone. With his launch of the black diamond a few years ago, then the creation of a collection of superlative timepieces (heavy, thick, bold), the brand has been a pioneer, soon to be followed and imitated by many.

Fawaz Gruosi has never been afraid of ostentation, making it, in fact, one of his flag bearers. He is now following his natural penchant by introducing the 'Instrumentino' that skilfully marries salmon, blue-violet or pastel rose galuchat bracelets with a case that has been entirely set with 405 black diamonds and a rose appliqué index ring that stands out in one continuous line against the black velvet and guilloché dial. The 'diabolic' blackness associated with the colour of flesh gives this piece a sulphurous sensuality. Who said that our era was one of discretion and moderation?



The jadeite of Corum

One of the finest 'analysts' of the watch market and its trends is certainly Séverin Wunderman. Since he took over Corum three years ago, he has lit the path in the luxury sector. In a market environment that had not yet come out of its trend of geometric minimalism and steel, Wunderman was one of the first to present baroque and overstated timepieces such as his best selling 'Bubble'.

With the introduction of Corum's new Buckingham Vision, in collaboration with Swiss jeweller Jean-François Michaud, Wunderman is moving full force into the world of very fine jewellery. The Buckingham Vision uses a material that has become very rare, jadeite, or imperial jade as it is sometimes called. We will not go into detail on the delicate process of selection and preparation of this stone, but will simply note that, for the first time and thanks to a patented technique, the deep and translucent green colour of the jadeite is enhanced by a film of sapphire crystal. The bracelet is made of large links of this material. The large square case holds a dial covered in a jadeite mosaic and is set with 10.5 carats of diamonds (7.24 carats for the ladies' model). Together, the effect is right in keeping with the current trends and offers a unique and beautiful piece.



To hide in order to be better seen

To have better visibility, isn't one of the best strategies to effectively hide oneself? We could say that this lesson has been taken to heart by several jewellery watchmakers. Whether it is Van Cleef & Arpels, Delaneau or even the very discreet Hermès, the covers for watches are multiplying. This certainly does not apply to all the new models, but represents a significant secondary trend.

For example, at Van Cleef & Arpels, the Socrate timepiece is the quintessence of current trends. Baroque, slender, exuberant with asymmetrical bursts of small pavé flowers that pivot to open to discover the 'hour function', this watch is mounted on bracelets made of ostrich leather or satin, themselves decorated with flowers whose centres are made of diamonds. The piece can also be transformed into a clip to be worn around the neck on a leather ribbon decorated with the same flowers.

A little more restrained, but equally on the same baroque wavelength, the Marlene timepiece by Delaneau hides its movement under a rounded cover, concealing the rectangular dial and diamond-studded bezel. All together, the Marlene is adorned with 1,000 diamonds. Its bracelet ends in a series of emerald drops, adding the final touch to transform an essentially classic design into something truly elaborate. It is not surprising that this extraordinary piece won the prestigious 'Town & Country Best in Design Award' for watches at the Couture Jewellery Collection & Conference held last may in Phoenix, Arizona.

By its nature more reserved, Hermès nonetheless permitted itself a little fantasy by placing pavé on the cover of its Glissade timekeeper. Yet, it remained within the limits of a certain geometric rigour.



A pirate's treasure

On the other hand, Ebel decided to break with the rules of geometric severity to the point of 'exploding' its limits. If Ebel has recently had problems, it is probably because, among other reasons, it has been one of those brands that has remained emblematic of the now outdated 'couture' chic of the previous decades. Without ever having been either on the side of pure design or of excessive folly, Ebel remained relatively 'balanced'. In an attempt to change this image, the brand's jewellery collections, somewhat ahead of their times, are among the most novel and extravagant to be found on the market today.

We remember the surprising line of 'Ocean Jewels' or the sumptuous 'Hiva Oa', straight out of a pirate's treasure trove. A bracelet watch rather than a wristwatch, its independent 'links', of which one is the watch itself, are all totally reversible. On one side are brilliant cut diamonds. On the other side, baguette diamonds 'flow' along, forming a variable waterfall composed of 2,134 brilliants and 136 baguettes. If you prefer, you can chose among the other versions in blue topaz, rose or green tourmaline, citrine, amethyst or white rock crystal.

The restraint of Cartier

In this colourful and baroque terrain, the grand Cartier seems like a haven for the classical. Even though its latest creations of jewellery watches are shaped like a horseshoe, bent or with large flanks, they remain clearly more classic in their appearance.

Is this one of the explanations of the 'lack of breath' from which the 'reference' brand currently suffers? Even the addition of the many mobile rings on the Déclaration watch cannot mask the simple form of the watch itself. What would have, in other times, passed for a virtue and a dignified approach to luxury, has now perhaps become too 'wise' in these troubled and uncertain times that seem to demand extravagance.

Luxury objects, even if they are sometimes kept in a safety deposit box, are intended to be ostentatious. Doesn't the act of sporting a dazzling assembly of stones with a mechanical movement show that you are definitely swimming against the current and that, while the crisis may affect all the others, it does not reach you at all?