Change in the Baselworld Show Management
Sylvie Ritter, Managing Director of Baselworld, has decided to hand over the management of the World Watch and Jewellery Show. “After 26 years with the MCH Group – 15 of which were as Managing Director of Baselworld – it’s time for me to start something new and take on new challenges”, says Sylvie Ritter in explaining her decision. Michel Loris-Melikoff, who joined the MCH Group three years ago as Director of MCH Beaulieu Lausanne SA, will be the new Managing Director of Baselworld. The transfer of management will take place on 1 July 2018.
Geneva spring auctions results: CHF 74 million sales
Phillips in Association with Bacs & Russo achieved an unprecedented sales result last weekend, recording the highest total ever for watch auctions held over a single weekend, with the combined total of CHF 45.2 million. Christie’s Rare Watches auction on 14 May totaled CHF 12.2 million, while Antiquorum’s Geneva, May 13th, auction totaled CHF 9.9 million. Sotheby’s spring sale of Important Watches, also held in Geneva Mai 13th, realized a total of CHF 6.6 million. All together, the spring auctions achieved a total amount of CHF 73.9 million.
Phillips achieves CHF 22 Million in a Rolex thematic auction
The “Daytona Ultimatum” thematic auction held by Phillips in Association with Bacs & Russo on 12 May 2018 realised a total of CHF 22.2 million (USD 22.2 – EUR 18.6) in a perfect “100% sold” sale. Daytona Ultimatum featured the most exclusive selection of Rolex Daytona examples to appear on the market. The top lot of the sale, “The Unicorn” reference 6265 – the only vintage white gold Rolex Cosmograph Daytona, achieved CHF 5.93 Million, with proceeds benefitting Children Action. Cased in 18 karat white gold, Rolex in 1970 created what scholars believe to be a one-off, unique masterpiece upon special order from an important German retailer.
Richemont’s takeover of Yoox Net-a-Porter completed
Richemont has announced the successful closing of its acquisition of all remaining ordinary shares in the Yoox Net-a-Porter (YNAP) Group. The Milan-headquartered online retailer is now on track to be de-listed from the stock market. The total value of the shares Richemont has acquired that they did not own equates around €2.8 billion and the takeover valued the entire group at €5.3 billion. Nearly 94 per cent of YNAP shareholders targeted by Richemont’s offer accepted the bid by its deadline. This means Richemont’s stake in the company is now just above 95 per cent.
Net-a-Porter Selling 40 Brands on New Jewelry Site
Yoox Net-a-Porter, the high-end e-tailer, has opened a new section of its site that is dedicated to fine jewelry and watches, says JCK Online. It will feature more than 40 brands, including Piaget, Cartier, Pomellato, Tiffany & Co. and Buccellati. Cartier and Piaget are both owned by luxury conglomerate Richemont, the site’s part owner, which in January submitted a takeover bid for Yoox Net-a-Porter. According to Reuters, following the takeover, “the platform plans to do more in jewelry and high-end watches. The site hopes to do 100 million euros in jewelry and watch revenue by the end of 2020.
Raymond Loretan, the new President of the Foundation of the Grand Prix d’Horlogerie de Genève
The Foundation of the Grand Prix d’Horlogerie de Genève has enlisted the services of an experienced figure. Raymond Loretan, the new President of the Foundation, took up his position in January 2018. He wishes to continue developing this institution on both national and international levels and to impart fresh momentum. While guaranteeing the strict independence and neutrality of the Grand Prix, he believes the Foundation must explore new modes of cooperation to ensure its sustainability and to continue promoting the reputation of the watch industry both within Switzerland and worldwide. Raymond Loretan succeeded Carlo Lamprecht, who had chaired the Foundation since its creation in 2011.
Grand Prix d’Horlogerie de Genève: Launch of the 18th edition
The Foundation of the Grand Prix d’Horlogerie de Genève (GPHG) opens registration for entries in the 18th edition of the awards. A jury, bringing together the expertise of 31 members of various nationalities will be entrusted with the task of acknowledging – through two rounds on models competing for 17 prizes – the excellence of the contemporary watch creations. The pre-selection will be announced on September 1st 2018 and the winners will be unveiled at the awards ceremony on November 9th 2018. All Swiss and international brands are entitled to compete in the GPHG. Two new prizes are joining the 2018 roster: The Challenge Watch Prize, reserved for watches retailing at less than 4,000 CHF, and the Audacity Prize, which will enable the jury to honour a bold and offbeat approach to watchmaking.
North Korea is shifting its time zone 30 minutes
North Korea will unify its time zone with South Korea’s on May 5th in a bid to promote the two Koreas’ reconciliation and unity, reports The Korea Herald. During a summit with President Moon Jae-in, North Korean leader Kim Jong-un said that his country will move its clock forward 30 minutes, back to the same time as in the South. North Korea decided to push back its standard time by 30 minutes in August 2015, claiming the move was aimed at removing the vestige of Japan’s 1910-45 colonial rule of the Korean Peninsula.
HYT H0 wins a Red Dot Award for Product Design
The independent, international jury of the prestigious Red Dot Award has announced the HYT H0 timepiece as one of its 2018 winners. This unique union between fluid technology and the flow of time, with its patented fluidic module, impressed with its high design quality among submissions from 59 countries. The prize will be presented at a special gala in Essen on July 9, 2018. This date also marks the opening of a related exhibition in the city’s Red Dot Design Museum, the largest museum for contemporary design worldwide.