Lawsuits, New Brand Announcements, and the Return of Basel: A Watch News Recap
So many watches, so much news. We agree, it can be hard to keep up. Here’s a quick recap of recent watch industry developments that are worthy of being on a watch lover’s radar.
By Mike Espindle
Executive Editor
Here are some of the recent news stories you may have missed.
Swatch Sues Samsung
In what is being reported as the largest trademark infringement case of its kind in the UK, Swiss watchmaker Swatch is seeking $170 million in damages from Korean electronics manufacturer Samsung. The trial concluded last Friday, and the outcome is being closely watched as a decision in Swatch’s favor could open the way for additional trademark enforcement in the US and elsewhere.
The crux of Swatch’s argument is that Samsung’s smartwatch apps allow users to replicate the designs of popular Swatch Group watch brand models. This is a bit of a “sticky wicket” as many smart watches and apps allow “video” emulation of specific watch dial designs, but usually under some kind of agreement or arrangement.
In 2022, a London High Court found Samsung liable for trademark infringement over similar violations involving third-party apps available for its smartwatches. This case strikes directly at the confusion of a smartwatch being a “watch" or more of an electronic device; either way, the precedent this decision will set should prove interesting, to say the very least.
Bennahmias Spills Some Tea on N3W5 Watch Operations
Former Audemars Piguet CEO François-Henri Bennahmias revealed some details of his plans for his luxury project The Honorable Merchants Group’s timepiece endeavors.
Scheduled to debut during Dubai Watch Week 2027, the brand, dubbed N3W5 (pronounced “news,” but an alphabetical/numerical portmanteau that stands for North, East, West, South), will draw on the executive’s expertise and industry connections (enamellist Anita Porchet and other notable artisans are reportedly involved in the project), to create watches that start at about the CHF 20,000 price point with an initial production target of “several thousand” pieces for its first year comprising two collections with two dedicated movements.
As Bennahmias served as AP’s CEO during a period of impressive sales growth for the brand, watch fans are closely watching this next chapter for the executive and his out-of-the-box vision for the group. Plans were previously disclosed for the organization to get involved with the California-based Avalon Labs, a broad-based collector services company, and a new Swiss electronic bicycle/transport brand called Viiala.
Antoine Pin Goes to De Bethune
Speaking of Mr. Bennahmias, his The Honorable Merchants Group was reportedly in talks to acquire Swiss watchmaker De Bethune.
That deal did not pan out, but De Bethune recently confirmed that watch industry veteran and former Bulgari Managing Director and TAG Heuer CEO Antoine Pin will succeed Pierre Jacques as CEO (and work closely with watchmaker and De Bethune co-founder Denis Flageollet) of the independent watch brand that is celebrating its 25th anniversary this year. We wish the gentleman the very best of luck and a soft landing at the famously innovative watchmaker.
Another Watch Show?
Just as the watch media – and watch fans – were getting used to the absence of the iconic Baselworld watch and jewelry show, the Swiss city has now been announced as the location of a new watch and jewelry showcase, slated to debut next April.
The brainchild of leading show event organizers MCH Group and Informa Markets, the Basilia Jewelry & Watch Fair will largely follow the watch and jewelry mission of Baselworld but with a tighter focus on bringing Asian manufacturing and global demand and distribution together in a modern “village” format rather than a traditional trade show environment. At last report, over 400 exhibitors have signed on.
The Baselworld show enjoyed a 102-year run, in one form or another, before the COVID-19 pandemic reared its ugly head in 2020-2021. It was a keystone event for the city of Basel and its massive Messe Basel convention venue. No doubt this fledgling event will help revitalize the location and city, and the watch press will have to start thinking about packing for a longer trip to Switzerland next spring. Learn more HERE.
The Record-Breaking Auction Scene
We recently highlighted the steamrolling auction results for timepieces made by the legendary indie brand F.P.Journe earlier this month, but the health of the watch auction world continues to be abundantly robust (and that’s an understatement), across the board. From relative newcomer Marteau & Co. to the established Phillips auction house, records keep breaking.
Phillips recent New York Watch Auction: XIV set a record of $75.8 million in sales (with 16 timepieces selling for more than $1 million each). Meanwhile, Marteau & Co. (and its disruptive 3% maker’s fee that goes to the original watchmaker) set two records at its recent The Heat Wave auction.
First, a new record was set for a timepiece made by Kari Voutilainen when his Pièce Unique Regulator Decimal Repeater hammered out for over $1.9 million. And second, Qian GuoBiao set a new record for the highest price ever paid for a Chinese independent watch when the brand’s Facing the Sky 2.0 Workshop Prototype (No. 00) timepiece garnered about CHF 102,000.