“Compensation is driving the revenge procuring demand within the post-pandemic world”, says Raymond Loretan, president of the recently-concluded Grand Prix d’Horlogerie de Genève (GPHG) exhibition in New Delhi.
Dubbed because the Oscars of the watch business, the GPHG exhibition comprised 84 timepieces throughout 14 classes for the 2022 Awards, together with among the best wristwatches from numerous classes from inventive and women’ problems to tourbillons. That is the second time the exhibition has travelled to India, offered but once more by watch retailer, Ethos Restricted. Created in 2001 as a public curiosity organisation, GPHG’s purpose has been to uphold the excellence of the watchmaking artwork by honouring and rewarding horological masterpieces that push the boundary of the business yearly.
The Arnold & Son Luna Magna Platinum (left), and the HYT Moon Runner Supernova Blue
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Particular Association
A profession diplomat, and pupil of Regulation from the College of Fribourg, Raymond joined the Swiss Federal Division of International Affairs submit his internships in Strasbourg, on the UN in New York and in La Hague. After serving as chief of cupboard of the Secretary of State within the International Affairs, and several other diplomatic positions later, Raymond left public service and took on the manager chairmanship of the Swiss Medical Community Group. He continues to be on the board of a number of corporations, foundations and NGOs, amongst others the Swiss Broadcasting Company, and the financial and monetary newspaper L’AGEFI. Excerpts from an interview forward of the awards ceremony in November:
Why was India chosen because the vacation spot for the exhibition this 12 months?
After our final exhibition right here in 2014, we’ve got been wanting to come back to India for a very long time. The pandemic delayed our plans, however we had been lastly fortunate to be invited by Ethos Watches and Yasho Saboo to exhibit the pre-selected watches of GPHG 2022 and to have significant interactions with India’s watch professionals and aficionados. India is poised to open up much more to the worldwide watch business, and our Minister of Economic system visited India earlier this month to expedite the conclusion of the Free Commerce Settlement which makes us optimistic concerning the market.
What are the important thing highlights and your favourites from this 12 months’s line-up?
I respect strict neutrality and that’s a very powerful precept that drives the Grand Prix. I by no means point out a model or a selected product; I don’t even put on a watch to keep up neutrality. If we’ve got to extend the legitimacy and affect of the Grand Prix, we’ve got to respect this facet. On this course, we took an enormous step in 2020 by creating the Academy of Grand Prix d’Horlogerie de Genève. We imagine by the academy, we are able to reinforce and reaffirm this precept of impartiality.
A snapshot from the exhibition
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Particular Association
How do you go about categorising the awards?
Yearly, we rethink the classes and reaffirm or readjust them based mostly on the evolution of the watch market around the globe. To attain this purpose, we don’t determine ourselves, however seek the advice of numerous watchmaking specialists. For instance, we’ve got launched a brand new class this 12 months: mechanical clocks (that didn’t come to India as a result of logistical difficulties), and reintroduced chronograph. We additionally emphasise on this 12 months’s innovation prize, the dimension of sustainability with out introducing any new class.
What’s driving the sale of luxurious watches globally?
The Grand Prix is not only about luxurious watches. Whereas we’ve got 20 million swiss franc value of watches competing on this 12 months’s version, the best value of a single timepiece is eight million swiss franc and the bottom is 1,700 swiss franc.
When it comes to gross sales, the posh section survived the pandemic properly as a result of luxurious watch consumers had been much less touched by the financial disaster and this class will all the time keep steady and doubtless develop sooner or later. India will carry out properly if the market circumstances open up much more. It’s nonetheless troublesome to import watches into the nation.
The Astronomia Metaverso NFT Venus watch by Jacob & Co
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Particular Association
What’s the affect of crypto forex on the watch business?
Although I’m not an skilled, from what I hear from mates within the banking business, I don’t assume crypto currencies have an enormous future. I wouldn’t guess an excessive amount of on it.
Any tendencies you could crystal gaze for 2023 when it comes to design, know-how, color, performance?
The digital class is progressing slower than anticipated, and a majority of taking part watches are nonetheless mechanical. We’re open for digital watches, however I nonetheless don’t see quick progress. That is nonetheless a pleasant stability, and that isn’t a supply of concern. Mechanical watches are right here to remain.
The Bovet Récital 20 Astérium watch
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Particular Association
What’s the function of GPHG in selling tremendous watchmaking?
Our mission is to advertise the watch business as an entire. One of many three ideas I attempt to implement at GPHG contains being completely neutral and impartial. I feel we’ve got achieved this with the academy, now we’ve got 650 members up from 300 two years in the past and I’m focusing on 1,000 members by 2025. Second, to attain universality of the Grand Prix. We’re open to watches from anyplace on the earth. Typically, we’re perceived as a Swiss Grand Prix, however we’re not. We’ve watches from Japan, Russia, China and others. I hope Indian watches can be on this record someday quickly. Third, is the facet of solidarity. I count on all manufacturers to take part as an indication of solidarity in the direction of the reason for the watchmaking business.
The Awards Ceremony might be held in Geneva on November 10, 2022.The author is founder and president, The Horologists.