What Sustainability at Watches and Wonders Geneva 2024 Really Looked Like

TAG Heuer's use of synthetic diamonds in the Carrera Plasma Tourbillon Nanograph

Wherefore sustainability. After more than half a dozen stories about all the watchmaking news that is fit to print since Watches and Wonders Geneva opened last week, you might be wondering why we have not spared a single word for sustainability. WOW Singapore and this website did, after all, publish a massive story on this very subject barely a couple of years ago. It is not like the world has magically resolved the challenge facing our planet in that time.

Well, we can report after seeing novelties from a majority of the majors at the Geneva fair, and speaking with numerous brand representatives (including no less than five CEO interviews), that even the word ‘sustainability’ was barely used. So, Zenith has a recycled fishing net fabric strap that comes with two other options for the particularly handsome new Defy Extreme Diver. That is hardly a fitting anchor for the sustainability pitch, even if this watch is the only one we can think of that comes with three straps as a standard.

Think of the big names in the sustainability game: IWC, Panerai and Cartier, to name just three. Well, Panerai continues to make hay with its recycled materials but there is not even one new watch in this area. IWC has scrapped its annual sustainability report, opting to fold this into the parent group’s ESG initiative. As for Cartier, while no new timepieces are on the sustainability track, the brand has not been quiet. For some context here, all the abovementioned brands are part of the Richemont group and this same group is very active on the DEI front. Sustainability, diversity, equity and inclusiveness all ride together on the ESG front, even if that might seem a little arbitrary.

IWC scraps its annual sustainability report

Watches and Wonders Geneva was the scene for a panel discussion featuring the industry’s most prominent ESG initiative, the Watch & Jewellery Initiative 2030 (WJI 2030). It was a C-Suite panel that included President and CEO of Cartier Cyrille Vigneron and CEO of Chanel Watches and Jewellery Frédéric Grangié, among others. The second annual Stakeholder Report – Report on Progress 2023-2024 revealed that 48 percent of WJI 2030 members and partners meet the minimum “commitment on Climate Resilience to sign and submit the Science Based Targets Initiative commitment letter.” Meanwhile, just 29 percent meet "the minimum commitment on Preserving Resources to set up a roadmap for nature for their company commensurate to their level of ambition and capabilities."

*President and CEO of Cartier Cyrille Vigneron (image courtesy of Getty)*

Any reasonable observer might be dismayed by this, but Vigneron sounded a hopeful note, given that WJI 2030 members are doing much better on the gender equality, living wages, and human rights fronts (89 percent, 83 percent and 79 percent, respectively). “No one has the power to change everything alone. Together we have a chance. We must not be discouraged by current setbacks. It just means we need to work harder and keep moving forward,” said Vigneron.

At this point, it is worth considering reality here because watch and jewellery firms are in the business of making and selling watches and jewellery. Deloitte’s Swiss Watch Industry Study notes that just 48 percent of watch buyers reported that sustainability was a leading factor behind the purchase of a luxury watch. Furthermore, the same report notes that sustainability ranked fourth amongst the top reasons for buying a watch, the other three being brand image, design and price. This editor finds this rather optimistic as he has yet to meet anyone who has bought a watch even partly because of its sustainability credentials. We would all prefer that the watches be made without harm coming to anyone, but that is more of a baseline than anything else.

Richemont Group headquarters in Bellevue, Switzerland

The big winners over the last 10 years in watchmaking have made the least amount of noise on the transparency of their operations. By way of contrast, Richemont brands are on the back foot, as are virtually all groups, regardless of their sustainability credentials. This probably means that brands ought to focus on what helps them sell more watches, to at least stay on pace with the market. On the other hand, no brand has abandoned its sustainable practices or ceased production on relevant collections – recycled steel and titanium are still in the picture and so are recycled plastic straps. No doubt the year will reveal more about how brands intend to address the cleanliness of their precious metal and gemstone supply chains because this is a developing trend shaping the sharp end of fine watchmaking. One fascinating story playing out is that of lab-grown diamonds at TAG Heuer, which has implications for the entire watchmaking trade (although probably not jewellery).

For more on the luxury watch reads and the latest in Watches and Wonders Geneva 2024, click here.

Watches and Wonders Geneva Showcased the Evergreen Appeal of Gold

Watches tell us about the present or the past; the future is generally out of reach, except at a fair like the recently concluded Watches and Wonders Geneva. You might have caught some of our favourites and highlights over the last week, and probably caught up on all the news wherever you get your horological fix. So, what does it all say about the year of watchmaking that is to come? In 2024, the answer is simple: high-value precious metal models.

*Patek Philippe’s Golden Ellipse new design*

Gold is king at Watches and Wonders Geneva 2024 and here we will risk repeating ourselves because Rolex and Patek Philippe distinguished themselves with a significant majority of novelties in the precious stuff. If one adds platinum into the mix, then precious metals dominate. The dominant market force and the most prominent prestige player have but one new stainless steel model between them. We would never have imagined typing that sentence before the fair started and it still feels unbelievable. And yet it is merely a fact. Make no mistake though, it is still the era of sports elegance but perhaps we can call this sports elegance elevated (SEE).

This is not only about the red gold TAG Heuer Skipper, the full gold Tudor Black Bay 58 and the Bell & Ross BR 05 Chrono Grey Steel and Gold but also the all-gold Parmigiani Fleurier Toric where dials and calibres are also in gold. We could go on and list more, and we will. Both of the novelties at A. Lange & Sohne are in precious metals and so is the sole Ulysse Nardin Freak S Nomad, obviously. At IWC, the entire new Portogieser Horizon Blue variant is only in white gold while the new Duometre watches at Jaeger-LeCoultre are exclusively in gold, except the stainless steel Quatieme Lunaire. Needless to say, the Piaget Polo 79 is a big old gold brick, while the majority of Cartier’s 66 novelties this year are in precious metals, and that goes up to 100 percent at Van Cleef & Arpels.

Jaeger-LeCoultre Duometre Chronograph Moon

If your first thought in hearing all this is that things are going to get expensive, you are of course correct. It is not a response to increasing wealth in the world. You might have noticed from recent news reports on Swiss watchmaking exports that matters are hardly looking up. Quite the opposite. It may be though that demand for the most expensive sorts of watches is more resilient (as history demonstrates), so the appeal for watchmakers is clear. In addition, margins are better in the precious metals game (though not necessarily in complications but that is another matter) and companies such as Rolex and Patek Philippe want to reward their retail partners. A few that we spoke with agreed.

Bell & Ross BR 05 Chrono Grey Steel and Gold

To be sure, this is one interpretation of the novelties of 2024 but we feel confident that it is a very obvious one. It is also of obvious concern for collectors and enthusiasts, who have been primarily interested in steel watches – it is downright ominous for fans of bronze and other novelty materials. Rolex did not even introduce more models in titanium but maybe it will dedicate an entire year for this, just as it did with precious metals in 2024.

For more on the luxury watch reads and the latest in Watches and Wonders Geneva 2024, click here.

The Debut of Rolex's Oyster Perpetual GMT-Master II

As always, Rolex leads our coverage of Watches and Wonders Geneva and the brand makes it easy to understand what it thinks is most newsworthy: the Oyster Perpetual GMT-Master II. Basically, what is new here is the first new bezel variant since 2022’s Lefty. The 2024 Oyster Perpetual GMT-Master II maintains the traditional crown position but introduces an unusual but somewhat cool colour combination: black and grey. This completely new look is paired with a green GMT hand, just like the one on the 2022 Lefty. Despite the relatively low-key nature of this model, it is perhaps one of the most surprising of the current slew of new watches.

It is important at this moment to address some ancillary facts about the GMT-Master II collection. This includes the fact that no current models have been discontinued, despite the much-hyped rumours about certain popular models. Instead, the 2024 GMT-Master II simply adds to the number of variants currently available, bringing it to reportedly 14. That includes the Oyster and Jubilee bracelet versions of the new black and grey model; the watch needs a nickname but the Internet has not yet responded (that we know of, although we like Grey Ghost). To reiterate, the new GMT-Master II is unchanged in every way from its existing siblings.

In a funny twist, the 2024 GMT-Master II might just be the most accessible offering from Rolex, with most of the current crop of novelties leaning towards precious metals, elaborate dials and luscious gem-setting. At the same time, those who love the world’s most popular GMT watch might be wondering what this means for their dreams of owning some version of it; they will also wonder why the coke bezel remains out of picture, despite Tudor introducing it for its GMT model. Your guess is as good as mine on these subjects but I will say that perhaps the Grey Ghost is a cooling measure of some kind. Or perhaps it is meant to appeal to fans of the short-lived solid black bezel GMT-Master II. More on this watch will certainly follow from experts and specialists in the coming months.

For more on the luxury watch reads and the latest in Watches and Wonders Geneva 2024, click here.

Patek Philippe's Ref. 5738/1R-001 Goes For Gold With New Bracelet

Sometimes, a watch just needs to get made to be an unqualified success but this is not the case with Ref. 5738/1R-001. Although a staple at Patek Philippe, the watch earned its place in the collection without the benefit of any sort of trend. Indeed, the original Golden Ellipse and all subsequent editions with bracelets had a bit of a wearability issue. The bracelet was a pure piece of jewellery, like a bangle, and could not be easily resized. This necessarily limited the potential of the watch, and made the leather strap option inevitable. The Golden Ellipse is a total design watch though and the nature of the bracelet is key.

This year, Patek Philippe has resolved this fit-and-feel issue with a brand new bracelet that can now be resized. When we heard about this, one the first day of the fair, we did not know how to feel about it. No exhibition caseback, no change to the movement…just a new bracelet; pretty ho-hum. Not so. The bracelet is an amazing bit artisanal craftsmanship and might even provoke the envy of Nautilus owners.

That is how good this bracelet is, and yes that is a reference to the presence of screwed links here. But this bracelet does not have individual solid pieces, as the aforementioned Nautilus bracelet. Instead, it has more than 360 pieces and is assembled painstakingly by hand. This is what gives this new bracelet its flexibility, in terms of easily accommodating a number of different wrist sizes.

In terms of other factors, the watch specifications are very much the same as all other sorts of Golden Ellipse watches. This means there is a solid caseback that obscures the self-winding calibre 240 (which is blessed by the Patek Philippe seal) and that water-resistance is dress-watch standard 30m. Other standard features include the slender cheveu hands, gold dial plate and baton-style applique hour markers. Only the CHF price is known and that works out to be CHF51,000.

For more on the luxury watch reads and the latest in Watches and Wonders Geneva 2024, click here.

Day 2 Highlights from Watches and Wonders Geneva 2024

We began as we ended on day one at Watches and Wonders Geneva, fixating on Patek Philippe, then moving on to concepts and our fixation on all things calendar-related. As mentioned, our bet this year was on some kind of calendar innovation and Patek Philippe delivered with Ref. 5330G, the manufacture’s first worldtimer with date synched up with local time, as reported yesterday. You might actually remember that we covered this watch last year, or a version of it at any rate. You could read that story for a full brief on this because we will be going big on Ref. 5378/1R-001 first. For this story though, it will be Ref. 5330G because most of the world seems to have missed out on the previous Ref.5330G-010 (read about it to find out why, if you cannot recall).

Another family that will interest collectors is the Twenty~4, on the occasion of its 25th anniversary. An amazingly popular collection, these two special models are destined to become collectibles (quartz movements notwithstanding but that is a personal bias). One could play Ref. 5378 as a jewellery watch too but this is to misunderstand its potential. The Golden Ellipse is one of those models whose potential we have always been harping on, but its bracelet has some issues. Well, those have now been fixed. Wait for our report on this (this is the Internet so you can find it anywhere you get your horological fixes).

Vacheron Constantin Egerie The Pleats of Time concept watch

Moving on, as the fair rolled around, many a watch journalist will have been weighing a somewhat perplexing question; if you love creativity in watchmaking, this one will have made you look up ambivalent in your dictionary. Of course, the question is not whether we should bring you the news about the Vacheron Constantin Egerie The Pleats of Time concept watch. Here it is after all. You may not have clicked on the image or the header and expected this watch but there is no way to avoid this one since it is the only proper concept watch we have seen (so far). No, the question is when to make this reveal and we will go with now.

Basically, this is a watch with a sense of fine watchmaking and a scent to go with it (it also boasts a sense of style as it references haute couture directly). The watch head itself has not been treated with some sort of chemical or anything; instead, there are ampules in the strap that release a signature scent by perfumer Dominique Ropion. We are told that it all works as a response to the wearer’s movements and, once more, this is a concept watch. We confess though that we are taken by the idea of being able to sense time differently – in a completely novel way.

Finally, this was a watch we saw on our first day but it will get its own story soon anyway. Well, it is an entire collection actually and we are quite sure it will be the WOW Festive issue cover story. We are referring of course to the new Parmigiani Fleurier Toric, which is one of our top collection picks of Watches and Wonders Geneva 2024. In this overall fair story, we reserve unqualified praise for the Toric Petite Seconde 40mm watch. This latest lease of life for the collection that started everything for Parmigiani Fleurier in 1996 is offered only in gold, with gold cases, gold dials and (mostly) gold movements.

For more on the luxury watch reads and the latest in Watches and Wonders Geneva 2024, click here.

Watches and Wonders Geneva 2024: Day 1 Highlights

In advance of the first day of Watches and Wonders Geneva 2024, we very reasonably wonder about the watches of Rolex. For example, has Rolex won the day yet again? To begin with, the main story at Rolex seems to be about gold but there is a lovely new Oyster Perpetual GMT-Master II to discover, as you can see. Obviously, we will have more to say about Rolex later but we will make the point here about some discontinued models and then say no more about it…well ok no more for now.

Ceramic bezel of the Oyster Perpetual GMT-Master II

On that Oyster Perpetual GMT-Master II then, the rumour about the end of a fan-favourite bezel is debunked; take that rumour-mongers (you know who you are). There is also no new Milgauss model in the picture (so I will refrain from using its proper name since it is effectively non-existent). So ends my personal bias here. Sadly, we bid farewell to the Yacht-Master II, which was truly one of the quirkiest chronographs from a major brand ever made. We hear that all palm and fluted dial motifs are also gone, and that will indeed darken some people’s moods.

That is quite a lot to say about watches that just gone. In many ways, the biggest player in fine watchmaking starts the novelty season with the unbeatable advantage of market interest. Everyone who is even vaguely interested in contemporary watchmaking of the mechanical sort will be interested in Rolex. Even if the first news from the brand at Watches and Wonders Geneva does not resonate, at least you can now move on…

In other news, we had already concluded that we were deeply interested in the TAG Heuer Monaco Split Seconds watch and the Roger Dubuis Central Tourbillon Orbis in Machina, which happen to be our first brand appointments this year. On the first watch, we cover it more extensively elsewhere but reference it here because a new chronograph from TAG Heuer must win the day…except for the earlier note. Just consider for a moment the new calibre TH81-00, which was developed by Vaucher, under the direction of TAG Heuer movements director Carole Forestier-Kasapi. It is a fascinating story that began with a unique project that deserves its own space.

On the other hand, the Roger Dubuis Central Tourbillon is both something of a staple for the brand and a special creation – not many watchmakers attempt the central tourbillon and not one does so in such theatrical fashion. The watch itself is a showcase for the Hallmark of Geneva, otherwise known as the Poincon de Geneve; all the exquisite finishing touches emblematic of Geneva fine watchmaking are present in both calibre RD 115 and the case.

In fact, the Poincon de Geneve honours the quality of the entire watch, not just one aspect or another. In many ways, a watch that has earned the Hallmark of Geneva is a great way to start your Geneva watchmaking tour. Well, it was a good way to start ours anyway. We note for the record here that Orbis in Machina is a part of the regular collection, making this the first time the central tourbillon has become an integral part of the Roger Dubuis collection. It is still a limited edition in this specific version, with just 88 slated for production.

Before we get too long in the tooth here, we have to include a brief introduction for another Geneva watchmaker, Patek Philippe. Our appointment will be tomorrow but we can hardly let day one of the watch fair go by without chiming in on what this titan of fine watchmaking has revealed. Happily, the big story is about Ref. 5330G-001, the first worldtimer with date synched with local time. More on that one tomorrow.

For more on the luxury watch reads and the latest in Watches and Wonders Geneva 2024, click here.

The Dynamism of the TAG Heuer Monaco Split Seconds Chronograph

Where most watchmakers begin with time-only watches, TAG Heuer is all about the chronograph, which is what makes the new Monaco Split Seconds Chronograph notable. It is technically the first-ever split seconds or rattrapante chronograph wristwatch from the brand – well, the first mechanical kind anyway. Some of you might feel the Only Watch edition for 2023 deserves credit as the first such watch for TAG Heuer but this is a series production model and Only Watch was delayed until May this year.

So why did it take TAG Heuer such a long time to make a split seconds chronograph? It made all sorts of legendary and singularly distinctive chronographs, after all, and even lent its expertise to LVMH sister brand Zenith. Well, as noted elsewhere, the automatic calibre TH81-00 here is a Vaucher movement, as it was in the previously-announced Only Watch model. Vaucher, part of the same outfit that owns and makes Parmigiani Fleurier watches, is famed for all manner of collaborations and TAG Heuer itself has been flexing its partnership muscles lately (see Kenisi last year).

The development of the new calibre was certainly undertaken under the wise eyes of TAG Heuer movement director Carole Forestier-Kasapi, who had this to say about the new Monaco Split Seconds Chronogaph: “Every component of the watch reflects our passion for horological artistry.” On that note, the new TH81-00 calibre is crafted in titanium, in large part; this probably means plates and bridges but perhaps also chronograph levers and cams. The dial also goes partly titanium, with sapphire crystal in the mix too. It is all quite complex and there is a reason for this, besides the Only Watch connection. But first, let us explain a little about the functions.

In a nutshell, the split seconds function allows the operator to time multiple events; these will begin at once but possibly end separately, like lap times between two racing cars, for example. It does this with the help of an extra set of chronograph hands and a third pusher, which the Monaco is the ideal shape for. Speaking of which, the movement here is basically round so we have automatic winding in place. Here are a few key specs to wrap things up for now. There are two colourways, in red and blue, both with 41mm grade 5 titanium cases. The power reserve is 65 hours (with the chronograph off) and 55 hours (with chronograph on). This might seem quite standard but calibre TH81-00 is also high-beat, keeping pace at 5 Hz. Water-resistance is much more casual though, at just 30m.

Finally, if you want to scratch your head about something, forget about the water-resistance. It is all about that complexity that I mentioned. The price of the Monaco Split Seconds Chronograph starts at CHF135,000, with some custom options taking it all the way to CHF165,000. Now, this provokes some questions – we have them and we are sure you have them too. Remember that TAG Heuer famously offered the most accessibly priced Swiss Made tourbillon chronograph for a little while. We shall do our best to more information on this from new CEO Julien Tornare.

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WOW Spring 2024 Issue Arrives on Newsstands Now

The gap between the last novelties of 2023 and the fresh crop of this year invites both contemplation and, for some, a bit of quick thinking. The latter is especially true for the small number of brands that try and fill said gap, taking advantage of what feels like a momentary lull in the otherwise relentless march of time. For some context, most watch brands are waiting for Watches and Wonders Geneva to show their hands…even if they are not participating. It is not so much a case of tick-talking together as it is a frantic push to rise as one on favourable hot air.

Thus, the Spring issue of WOW Singapore (issue # 72) continues to function for two main purposes. Most obviously, it is a springboard for a few brands that dare to avoid the novelty crush of 2024. We salute them for bravely flapping their wings, and you can read about it in the Highlights section. The team notes for the record though that unless you are selling MoonSwatches, the message might get lost in the whirlwind that is to come. Unsurprisingly, the bulk of the new watches appearing in the first quarter of 2024 are from one watchmaking group, including our cover star, the Blancpain Villeret Quantieme Perpetuel, otherwise known as the Villeret Perpetual Calendar.

For the alternative perspective on this, we speak with Parmigiani Fleurier CEO Guido Terreni about the importance of watch fairs. He points out quite rightly that most people reliably pay attention to watches once a year and it is vital to get the message out right then. Of course, there is also something to be said for timing those messages to also coincide with the arrival of the actual watches in stores. The most popular and sought-after watches may not be available for just any customer, but the alternatives certainly will be.

This is where the aforementioned contemplation comes in because the team has spent the last six months considering what their horological blind spots might be. The results of all this thinking are evident in many dozens of watches and brand names, all pulled together under the banner of the Unusual Suspects, alongside a few choice offerings in gold and a deep dive into the world of German watchmaking.

Then again, there are those brands that showcased novelties in January and are gearing up for another round at Watches and Wonders Geneva. These are the brands of LVMH, and we have the important watches covered. Check it out here first because you may miss it once the game gets underway in the capital of Swiss watchmaking.

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