Coming here to Lausanne, and reflecting on the theme of this Forum, I asked myself a very simple question: imagine a young man, between 18 and 24 years old, just an ordinary young man, not some golden boy. What does he know about fine watches and true luxury? What does he think of them? I rather fear that his knowledge amounts to little or nothing. At the very least, he knows nothing of what we know both fine watches and true luxury to be. Or perhaps he has his own opinion that we need to study and understand.