Luxury watches in Geneva

 

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According to SIHH 2019, many exceptional timepieces were on display in Geneva, Switzerland last week  and perpetual calendars in particular. Trending for the year 2019 is the colors.

  • Colour becomes an integral part of watch design, with blue and green continuing to gain in popularity. Moon phases and “métiers d’art” dials also come to the fore. Also noteworthy is the arrival of original alloys, based on carbon or recycled titanium, mainly in sport watches. Not forgetting women’s watches, for which new designs, movements and gem-setting were showcased by many of the brands, according to the press release.

SIHH (Salon International de la Haute Horlogerie) is one of the global Watch exhibitions with over 20000 visitors.

 

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Luxury watchmaker Patek Philippe for sale?

 

According to Bloomberg news, the Swiss luxury watchmaker Patek Philippe may be for sale. This 180 year old luxury watch company is valued between 7-9 billion euros by market analysts and it is one of the last biggest independent brands.

Patek Philippe is owned by Stern family and it is one of the innovative brands in the industry still. In 1845 the company patented the keyless winding and hand-setting system. In 1916 Patek Philippe made the first ladies´wristwatch with a five-minute repeater. In 2018 the company introduced the twenty-4 collection for ladies.

The company CEO Thierry Stern said in the Financial Times interview in 2013 that  they aim to keep the production at 50.000 pieces a year in order to keep the quality in the watches. The company headquarter is in Geneva, Switzerland.

Business Lifestyle

Tesla: Focus on standard-range Model 3

Tesla has today published a blog and according to it, the company will cut workforce by 7 % in order to meet the targets regarding the Model 3 production and focusing also more in mid-range models.

-Starting around May, we will need to deliver at least the mid-range Model 3 variant in all markets, as we need to reach more customers who can afford our vehicles. Moreover, we need to continue making progress towards lower priced variants of Model 3.
Right now, our most affordable offering is the mid-range (264 mile) Model 3 with premium sound and interior at $44k. The need for a lower priced variants of Model 3 becomes even greater on July 1, when the US tax credit again drops in half, making our car $1,875 more expensive, and again at the end of the year when it goes away entirely, the CEO Elon Musk writes.

-Sorry for all these numbers, but I want to make sure that you know all the facts and figures and understand that the road ahead is very difficult. This is not new for us – we have always faced significant challenges – but it is the reality we face, he continues.

– As a result of the above, we unfortunately have no choice but to reduce full-time employee headcount by approximately 7% (we grew by 30% last year, which is more than we can support) and retain only the most critical temps and contractors. Tesla will need to make these cuts while increasing the Model 3 production rate and making many manufacturing engineering improvements in the coming months. Higher volume and manufacturing design improvements are crucial for Tesla to achieve the economies of scale required to manufacture the standard range (220 mile), standard interior Model 3 at $35k and still be a viable company. There isn’t any other way, he says.

Tesla shares were trading down, -9,9 % to 312,79 dollars, after the blogging in Wall Street on Friday. Company also reminded that it made 4 % profit during the Q3. The last quarter figures of the year 2018 are not yet published.

– In Q4, preliminary, unaudited results indicate that we again made a GAAP profit, but less than Q3. This quarter, as with Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and
some luck, to target a tiny profit, he estimated.

 

 

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Davos: Companies should have Climate Change strategy

According to the Global Risk Report by the World Economic Forum, Climate Change, Natural Resources and Biodiversity are among the the top global risk areas for this year. 

– Rising geopolitical and geo-economic tensions are the most urgent risk areas in 2019, with 90% of experts saying they expect further economic confrontation between major powers in 2019, the World Economic Forum Report states.

– Environmental degradation is the long-term risk. Rapidly evolving cyber and technological threats are the most significant potential blind spots; we still do not fully appreciate the vulnerability of networked societies, the report says.

– 2018 was sadly a year of historic wildfires, continued heavy flooding and increasing greenhouse gas emissions. It is no surprise that in 2019, environmental risks once again dominate the list of major concerns. So, too, does the growing likelihood of environmental policy failure or a lack of timely policy implementation. To effectively respond to climate change requires a significant increase in infrastructure to adapt to this new environment and transition to a low-carbon economy. By 2040, the investment gap in global infrastructure is forecast to reach $18 trillion against a projected requirement of $97 trillion. Against this backdrop, we strongly recommend that businesses develop a climate resilience adaptation strategy and act on it now, says Alison Martin, Group Chief Risk Officer in the  Zurich Insurance Group.

The Wef Davos meeting will be held next week in Davos, in Switzerland. Around 3000 quests are expected to come to Davos, including Japan PM Shinzo Abe, German Angela Merkel and Prince William, the Duke of Cambridge.

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Business Lifestyle

Frank Muller and new Art Deco style watch

The Swiss luxury watch maker, Frank Muller, has unveiled new models in the World Presentation of Haute Horologerie (WPHH).

The new models, Vanguard Grazy Hours, display numerals in an unconventional order, with Art Deco pop art style.

Driven by a new mechanism, the central hours jumps from one hour to the next following the correct order of numerals allthough they are randomly placed on the dial. These watches are designed for women.

The company is also unveiling two new facilities, as part of the Watchland production site. After these investments, the company can now offer all its 450 employees the same site and thus improve efficiency. The sites will be opened next week in Genthod, Switzerland.

Lifestyle