Yacht Style, Issue 88
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Yacht Style, Issue 86, Top 100 Superyachts of Indo-Asia-Pacific 2026, Jonathan Beckett, Burgess, Erwin Bamps, Gulf Craft Group, Fraser, Camper & Nicholsons, AB Yachts, AB 95, Van der Valk, Lalabe, Azimut, Grande 30M, Ferretti Yachts, 940, Absolute, Navetta 62, Cannes Yachting Festival, Genoa International Boat Show, Monaco Yacht Show, Lantau Yacht Club Boat Show - Festa Nautica, Rolex SailGP, Maxi Yacht Rolex Cup, Rolex Middle Sea Race, Phuket King’s Cup Regatta, Thailand, Port Takola Yacht Marina & Boatyard, Krabi, Yousuf Al Hashimi, Phoenix Yacht Management, Su Lin Cheah, ICOMIA, Suzy Rayment, Asia-Pacific Superyacht Association, APSA
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Breguet Quantième Perpétuel 7327: New Perpetual Calendar

Breguet Quantième Perpétuel 7327: New Perpetual Calendar

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Breguet updates its Classique Perpetual Calendar with the new Quantième Perpétuel 7327 that comes just under 10mm.

By Ashok Soman

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Breguet Quantième Perpétuel 7327

On the heels of Watches and Wonders Geneva, Breguet has revealed the new Quantième Perpétuel 7327, marking the debut of a new perpetual calendar from the storied watchmaker. In a season dominated by chronographs — Breguet has its own something-something coming up — it is great to see a new execution of the most complex of all calendar mechanisms, the perpetual calendar. This writer is somewhat biased towards calendar complications, and to asymmetric dial layouts so the Breguet Quantième Perpétuel 7327 is a straight-up win. Collectors should note that reference 7327 is a replacement for reference 5327, the Classique perpetual calendar that was a mainstay of that collection. You can see from the layout of displays on the dial that there is a new calibre at work here.

 

We begin with the new automatic calibre 502.3.P, which delivers a highly unusual retrograde date display (between 9 o’clock and 12 o’clock on the dial); this is the most obvious sign that there is a new movement here, and is how we distinguished this model. Oddly, Breguet did not lead with this information in its publicity materials (we have not seen it in person), yet this is precisely what collectors should take note of. Basically, it makes reference 7327 an important milestone for Breguet. The hairspring and anchor are in silicon, which is par for the course at the manufacture, and the escapement beats at 3Hz.

 

Significantly, the calibre is just 4.5mm thick, allowing the case to come in at under 10mm — this is just right to fit under a sleeve. Breguet faithful will recognise calibre 502.3.P as an evolution of the ultra-thin calibre 502 (and thus another upgrade to the original Frederique Piguet calibre 70, as reported by Watches by SJX), and the brand says that the calendar mechanism was added as module. There are a total of 294 components in total. The modular construction is perhaps slightly disappointing for purists who insist on integrated calibres, but we think that reference 7327 should be judged on its overall merits (for the record, we would love to see how the 21st century Breguet manufacture would approach engineering a perpetual calendar from the ground up, particularly with regards to the 45-hour power reserve, which is well below contemporary expectations).

 

While we have not seen the watch in the metal, Breguet lists an impressive list of finishing arts here, including a circular barleycorn motif (rose-engine handworked) on the oscillating weight, Geneva stripes on the bridges, and chamfered edges on many components. A look at the real calibre will reveal a lot about the quality and nature of the finishing, but Breguet is certainly on par with other brands at the haute horlogerie level.

Turning to the case and dial, note the fluting on the case middle and the straight lugs, both of which are Breguet staples. The 39mm watch is available in white gold and rose gold, but the dial and hands remain the same in both. The hands are called “Breguet” because Abraham-Louis Breguet came up with the design, but the brand also prosaically refers to this style as “moon” tip hands. Overall, the 7327 is very fetching, including the update to the moon phase display (no more smiling anthropomorphised moon), and the balance of the information on the guilloche dial.

 

We have some questions about the fit here, given the style of lugs, and we will return to this story with updates once we see the watch. Having said that, if you are in the market for a distinctive perpetual calendar with a grand story, and have S$116,300 to spare (same price in either gold), the Quantième Perpétuel 7327 might be it.

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Succession and the World of Luxury  

Succession and the World of Luxury

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There are two camps of people –one that is obsessed with overt portrayals of wealth, and another that prefers to lay low.

By Gabriela Serpa Royo

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Casts of HBO’s Succession series.

If Emily in Paris reflects luxury in a society that has vastly democratised and made a spectacle of what it means to be and look “luxe”, the clothes of Succession sneer at that notion. Recent shifts in culture, like the rise of celebrity influencers and the advent of thrifted or rented designer goods, have changed the rules of the luxury market entirely, making it possible for more people to participate in the category than ever before. There are two camps of people: one that exalts in owning logo-filled fashion pieces or outwardly portraying their wealth with the number of sports cars and yachts they own; and the other, who prefers to go incognito while still enjoying a luxuriant lifestyle.

 

Characters in the award-winning show, Succession, fit neatly into the latter category. For those who have a penchant for conspicuous showing of wealth, the self-effacing nature of Succession fashion feels impenetrable and mysterious, if not also unsettling and indecipherable. For years, the show’s characters have garnered attention for their outfits, part of the fanfare being that the clothes worn by the uber-wealthy characters are understated and unbranded.

 

Jeremy Strong as Kendall Roy in Succession. Jeremy Strong plays Kendall Roy in the award-winning series, Succession.

In the Succession season 4 premiere, Kendall Roy, one of the show’s protagonists, wears jeans, a t-shirt, a bomber jacket and a baseball jacket, a combination that at face value, could be from Uniqlo. After some sleuthing, it was determined that the outfit was a combination of pieces by Gucci and Loro Piana that cost a little under 10K. Society for a long time has been accustomed to overt display of wealth, yet Succession’s has camouflaged their on-screen billionaires in inconspicuous wealth. Where online aspirationationalism can often parade as a rotating cycle of expensive monogrammed handbags, Succession paints an image of luxury that ignores trends entirely.

 

Not everyone can afford that luxury. Season after season, we see supporting characters desperately struggling to dress the part in the Roy family’s world. From the show’s very first episode, when family patriarch Logan Roy all but sneers at the Patek Philippe gifted to him by his son-in-law, the audience is made to understand that to be a try-hard is a faux-pas, no matter the price tag. A season later, his son Kendall (who is admittedly the most try-hard of the Roy siblings) dresses the part of an art startup bro in a bid to invest in a company. Recognising himself as a poser, he interrupts the meeting to take off the Lanvin shoes that he bought for the occasion. Embarrassed, the richest guy in the room outs himself as an outsider and loses his shot. Not even his money could grant him insider status.

 

Today, in the age of “picture or it didn’t happen” luxury is arguably more about status than it is about money, comfort or experience. When Greg Hirsch, played by Nicholas Braun, shows up to Logan Roy’s birthday party with a date donning a $2,890 Burberry tote, it’s an immediate red flag for Succession’s elite, who immediately dismiss her bag as “ludicrously capacious”. “What’s even in there, huh? Flat shoes for the subway? Her lunch pail?” says Matthew Macfadyen’s character, Tom Wambsgans. “I mean, Greg, it’s monstrous. It’s gargantuan. You could take it camping. You could slide it across the floor after a bank job”.

 

The internet has since been littered with debates about the exchange as an obnoxious display of elitism, a judgement on fashion, and of course, the value of the bag itself. People on social media have been quick to label their own accessories as “ludicrously capacious”, and news outlets have quickly gotten in on the joke, advertising the best capacious bags of the season. Meanwhile, people are signalling the return of the “old money” aesthetic, dubbing the “quiet luxury” look a massive trend to watch for 2023. What’s fascinating about the moment’s influence isn’t its reach (any show with a massive following is expected to turn memeable in the blink of an eye), it’s how reactions to the bag are splintered, and what that splintering shows us about the fragmentation of luxury itself.

 

Culture is always fragmenting itself, the cracks getting deeper and more reflective with every passing year that we’re online. Back in the early days of Instagram, the rise of so-called “hipster” culture meant that everyone was trying really hard to be alternative. ‘Normcore’, an aesthetic built on the promise of plainness, and a rejection of individuality altogether, was born as a reaction to a culture obsessed with difference. One group found status by playing into the tide of pop culture, while the other did it by ignoring it aggressively, and self-awarely.

 

HBO’s Succession poster.
Today, when social media’s grasp on our lives has expanded beyond notions of cool, and into pretty much everything else, luxury finds itself in a similar situation. On one side sits Emily, making a name for herself on social media with her loud prints and love of the ludicrous (albeit not necessarily capacious). On the other are the Roy siblings, with their Loro Piana shoes, $500 baseball caps and a whole host of “investment normcore” pieces. Both sides are dressed to reveal different beliefs about luxury, but both sides play into luxury as a telltale sign of status all the same. Even, like when in Succession, luxury doesn’t need ostentation, it is a “flex” all the same. In a media climate that begs people to constantly express who they are, our decisions about how we do and do not choose to express luxury are about who we aspire to be. Where luxury was once about scarcity and exclusivity, the word has mutated it into something else entirely, with tentacles spreading in every direction. To be an Emily, or to be a Roy, it’s all a matter of decision, but in 2023, both are luxe.

This article was contributed by Gabriela Serpa Royo, Behavioural Analyst, Canvas8.

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Lamborghini Revuelto: The First Super Sports V12 Hybrid HPEV

Lamborghini Revuelto: The First Super Sports V12 Hybrid HPEV

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The latest model features an aspirated V12 engine and three electric motors with a total of 1,001 horsepower.

 By Joseph Low

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When Lamborghini announced that it would discontinue the production of the Aventador, it signalled the end of an era. For a decade, the Aventador represented the pinnacle of luxury sports cars, and the last naturally aspirated Lamborghini to be produced in Sant’Agata Bolognese was the Aventador LP 780-4 Ultimae Roadster. But following months of teases and speculations, the Raging Bull has unveiled a successor for the Aventador, the Lamborghini Revuelto — the first super sports V12 hybrid plug-in HPEV (High Performance Electrified Vehicle).

This beast is a befitting sports car to celebrate the 60th anniversary of Lamborghini while also marked the first foray into the world of electrification by the Italian automaker. According to the plans set forth by the brand, it is on track to become electrified, and the Revuelto is the first hybrid model from Lamborghini. Powering the Revuelto is a combination of an internal combustion engine as well as three electric motors. The former is Lamborghini’s signature 6.5-litre V12 engine, which has been used in its flagships for decades. With the aspirated engine alone, the Revuelto can deliver 814bhp at 9,250rmp and 725Nm of torque. Combined with the three electric motors, the car can hit 1,001bhp. 

As for the “newer” component of its powertrain, two motors are located on the front axle and another above the eight-speed double-clutch gearbox. A lithium-ion high power battery pack powers the three motors. Coupled with the ICE, its acceleration from 0 to 100km/h only takes 2.5 seconds, and it can also hit a top speed of more than 350km/h. 

The battery motors are recharged via three methods: charging via an outlet that only takes 30 minutes to recharge fully; regenerative braking from the front wheels; or directly from the V12 engine in just under six minutes. With such a powerful car, one would expect the batteries to be heavy, but Lamborghini has kept it at 70kg. To further mitigate the effects of the battery pack, the Revuelto is built upon the marque’s new aeronautics-inspired chassis, the “monofuselage”. This chassis is made of multi-technology carbon fibre, with forged composites for the front structure, allowing for a 25 per cent increase in torsional stiffness over the Aventador while being 10 per cent lighter.

The Revuelto has a striking appearance that is sure to turn heads. While the powertrain is the most talked-about aspect of the car, its design is just as impressive. With a wedge shape, sharp angles, and scissor doors, the Revuelto is an exaggerated version of the Aventador, complete with a rocket ship-like rear and a front fascia featuring hooded headlights and Y-shaped running lights. Despite its aggressive exterior, the cabin is surprisingly spacious, with more headroom than previous Lamborghini models. The driver’s cockpit resembles a fighter jet with three digital displays, including a 12.3-inch digital gauge cluster, an 8.4-inch infotainment screen and a slightly larger display at 9.1-inch for the passenger. To maximise the hybrid powertrain, the driver can choose from 13 driving modes using the squared-off steering wheel and infotainment system, including Recharge, Hybrid, and Performance.

 

 

Overall, the Revuelto is a beautiful and innovative supercar from Lamborghini. Its potent new powertrain is sure to capture attention, but the design and interior of the car are also noteworthy. With a unique and bold exterior design and a spacious and technologically advanced cabin, the Revuelto is a step forward for Lamborghini as it embarks on a new era of electrification. The driver can choose from various driving modes to make the most of the hybrid powertrain, and the fighter jet-style cockpit will surely make for an exciting driving experience.

 

“The new Revuelto is a milestone in the history of Lamborghini, and an important pillar in our Direzione Cor Tauri electrification strategy,” said Stephan Winkelmann, Lamborghini Chairman and CEO. “It is a unique and innovative car but at the same time faithful to our DNA: the V12 is an iconic symbol of our super sports heritage and history. Revuelto was born to break the mould, combining a new 12-cylinder engine with hybrid technology, creating the perfect balance between delivering the emotion that our clients want with the necessity to reduce emissions.”

 

 

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This Mallorca Beach House Should be Your Next Holiday Abode

This Mallorca Beach House Should be Your Next Holiday Abode

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With access to the sea, a concierge and delicious food, what is there not to like at the beach house.

By Joseph Low

Known for its beautiful coastline, secluded coves, wineries, fresh produce farms and many more, Spain’s Mallorca is a popular destination for holiday-goers. Its Mediterranean climate is also a huge attraction for those looking to escape the cold during winter or the sweltering heat of summer. Those looking to take advantage of what Mallorca has to offer have a chance to buy a beach house and build the perfect base for a family vacation.

Nestled at Cap Depera, a renovated beach house sits just above the sea on the rocks along the up-and-coming east coast of Mallorca. Located in a quiet neighbourhood, the property is discreetly positioned with trees lined around it. This house is one of the best choices for families that value their privacy.

Just behind the house is private access to the beach, and it only takes five minutes to reach it. With such proximity to the beach, partaking in water activities could be the family’s next favourite pastime. There is also the possibility of docking a boat or even housing sea kayaks and paddle boards. Looking to venture further out the coast? Boat chartering services are also available. If the sea is not the top pick of the day, there is a large free form pool that the family can use and it comes heated should the weather turn chilly.

Moving on to the house, the property is a masterclass in design and artisanal work. From the doors to cupboards and windows, these are all hand-crafted to the highest specifications. To elevate the vacation vibes, the house is dressed in subtle colours one would associate with relaxed beach living. Rattan furniture, one of the hallmarks of living by the beach, occupy the space with generous amount of cushions.

 

On the upper floor is a double bedroom with en-suite bathroom. A level down, on the garden floor, there are three more en-suite bedrooms that open out to the pool and the sea, and at the entrance level is a self-contained master suite that sits privately to one side of the house. Apart from having its own bar station, the suite comes with a balcony and a sitting room where you can spend the day watching your favourite shows on the large-screen TV.

 

The house is looked after by a charming concierge and two wonderful Spanish ladies who will dish out delicious food with ingredients sourced locally. Getting around the area is fairly easy as most places are within a short five minutes walk like the Cap Depera village, while the golf course is just a five-minute drive. The airport, Palma de Mallorca international airport, is only an hour away from the house.

 

With most of the amenities already provided for alongside the stunning location, this beach house at Cap Depera, Mallorca, should be your next holiday house.


For all information and bookings, you may contact SJ Villas, the boutique villa agency headquartered in London.


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Rolex Mission Blue Galápagos Expedition: A Commitment to Protect our Ocean

Rolex Mission Blue Galápagos Expedition: A Commitment to Protect our Ocean

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With Rolex’s support, Mission Blue conducted a two-week research expedition across the Galápagos Islands to gather crucial data for conservancy efforts

By Jamie Tan

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Argo, a state-of-the-art research vessel, is moored off of Wolf Island during the Mission Blue Galápagos expedition in 2022.

The Galápagos Islands and their waters are among the most biodiverse regions in the world. The environment is also home to an unusually large number of endemic species due to its remote location in the Pacific Ocean, some 900 km from continental Ecuador’s west coast. This unique set of qualities has made the Galápagos an especially important focus of ocean conservation efforts.

 

Indeed, much has been accomplished. The Ecuadorian government, for instance, established the Galápagos Marine Reserve to protect the islands’ waters in 1998, then expanded the reserve’s coverage by approximately 50 per cent in 2021 to its present size of 133,000 km2. Ocean conservation non-profit Mission Blue, founded by the famed marine biologist and Rolex Testimonee Sylvia Earle, also designated the Galápagos waters as one of its first Hope Spots in 2010.

 

Sylvia Earle, Rolex Testimonee and founder of Mission Blue, in front of the DeepSee submersible. In 2022, she led an expedition to the Galápagos Islands Hope Spot.


Far from being a one and done process, however, ocean conservation is an ongoing endeavour. To that end, Earle led a multi-institutional team of scientists on a two-week research expedition across the Galápagos Islands Hope Spot in 2022. Conducted with Rolex’s support, the Mission Blue Galápagos expedition worked to assess the impact of the existing protections that are in place, as well as to identify the challenges and opportunities for future conservation efforts.

Impact Study

A Galápagos shark patrols the reefs of the Galápagos Islands Hope Spot.

 

Earle, a Rolex Testimonee since 1982, is a veteran marine biologist and oceanographer with over six decades of experience in these fields. Her first visit to the Galápagos took place in 1966, when she discovered its waters teeming with life and remarked that they were “the sharkiest, fishiest place” she’d ever been. Since then, the wider awareness of the volcanic archipelago has grown exponentially. Unfortunately, this has resulted in greater pressures on the delicate ecosystems of the Galápagos, whether from pollution, invasive species, or demands on its resources. Protecting the region is thus more critical than ever before.

Manuel Yepez, conservationist and Mission Blue co-Champion for the Galápagos Islands Hope Spot, attempts to trap and tag a tiger shark near the famous Darwin’s arch.

 

A large part of the expedition was devoted to revealing the hidden and forgotten diversity beneath the waves to provide a baseline value of ecosystem health that can be tracked by future surveys.To do so, the expedition employed a range of cutting-edge technologies such as underwater video systems, which allowed the expedition team to collect population data for little studied animals such as endemic slipper lobsters.

 

Marine biologist Diana Pazmiño filters a water sample as part of her environmental DNA analysis.

 

To complement the above, eDNA (i.e. environmental DNA) analysis was also used. The technique involves isolating and sequencing DNA found in the environment being studied, in this case via seawater samples. The crucial advantage here is that data on organisms that elude visual study can still be gathered. Unsurprisingly, eDNA analysis did turn up interesting results. “Most of our sequences are not matching any public database,” shared Diana Pazmiño, a researcher with the Galápagos Science Center. “[This] means that not many things have been sequenced from the Galápagos, or there are things that are new to science that we have not identified yet.”

 

Sylvia Earle and Salome Buglass descend in the DeepSee submersible in search of deep sea kelp that may be new to science, during the Mission Blue Galápagos expedition in 2022.

 

This finding paralleled an earlier expedition undertaken by Earle and Salome Buglass of the Charles Darwin Foundation, which took place the year before. During that study, a new species of kelp was discovered deep beneath the water’s surface. The two scientists followed up on the discovery on the 2022 expedition by exploring the Galápagos’ depths in the DeepSee submersible, where they uncovered lush hidden forests of kelp. There are now tentative theories that these kelp forests are critical in maintaining the region’s biodiversity. “Kelp forests in other parts of the world have a critical role in supporting biodiversity,” explained Buglass, “and maybe we have found that piece of the puzzle that explains why biodiversity and biomass are so amazingly rich in the Galápagos.”

 

Various other broad-based studies were also undertaken during the 2022 expedition, from mapping the foraging grounds of penguin colonies to measuring microplastic levels. The expedition team continued ongoing long-term research into the transoceanic movements of marine animals too by, for example, capturing location tags of sharks that have come from as far away as the Gulf of Mexico. This is particularly important, as it supports the view that international cooperation is vital to ocean conservation work — as well as the need to expand marine protections further. In 2021, Ecuador, Panama, Colombia, and Costa Rica jointly announced the creation of the Eastern Tropical Pacific Marine Corridor, which expanded and linked the four countries’ protected waters to create a fishing-free “swimway” for migratory sharks, turtles, rays and whales. The expedition’s findings have demonstrated the need for more such swimways — globally, no less — to protect marine wildlife, and the need to think on a larger scale beyond national borders.

 

A Model To Follow

 

In many ways, the Galápagos Islands Hope Spot is a bellwether for ocean conservancy as a whole. On one level, the attention and support that the islands receive mean that the region has, arguably, the greatest chance of success in this area. As Earle herself has succinctly asked, “If you can’t protect the Galápagos Islands, what part of the planet can you protect?”

 

Alex Hearn, Mission Blue co-Champion for the Galápagos Islands Hope Spot and Professor of Marine Biology at Universidad San Francisco de Quito, retrieves and replaces a receiver that has been detecting tagged marine animals passing by.

 

On another level, the work that is being done in the region also has the potential to serve as the model for conservancy projects elsewhere to follow. Alex Hearn, an ecologist from the Galápagos Science Center who convened the team of scientists for the expedition, believes that “if we can get it right here [in the Galápagos], that is a blueprint for getting it right across the planet.” From best practices in monitoring the markers of an ecosystem’s health to cross-disciplinary approaches for reversing human impacts on the environment, the Galápagos Islands Hope Spot is serving as a pioneer in the field, with lessons learned from its management percolating to other Hope Spots — and beyond.

The Bigger Picture

 

Mission Blue will, of course, continue to establish Hope Spots around the world to protect oceanic regions of significant value. Since its founding in 2009 by Earle, the organisation has already created a network of 150 Hope Spots covering nearly 58 million km2 of the oceans. The goal is to extend this protection to 30 per cent of the oceans by 2030.

Rolex’s support for Mission Blue is part of its overall commitment to protecting the planet. This is an extension of its work in championing exploration — both for the sake of discovery and to push the limits of human endeavour. The brand subsumed its efforts in this area under the Perpetual Planet Initiative in 2019, and currently counts Mission Blue and the National Geographic Society as its major partners. As part of its expanding portfolio of partnerships under the initiative, Rolex also supports diverse projects such as Steve Boyes’s the Great Spine of Africa expeditions, which explores the continent’s major river basins, as well as Coral Gardeners’s work to transplant resilient corals to rejuvenate reefs.

 

Rolex’s commitment to supporting the individuals and organisations using science to understand and overcome our environmental challenges is long-term. In much the same way, this parallels the manufacture’s approach to watchmaking, which sees it taking the long view on things with a focus on constant improvements in every possible area. Given time, the right resources, and a little luck, the challenges that our planet faces may be overcome yet.

 

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Style & Substance: The Rise of Fashion-Branded Watches

Style & Substance: The Rise of Fashion-Branded Watches

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We look at how fashion brands have introduced, and sometimes even nurtured, the tenets of high horlogerie.

By Karishma Tulsidas

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Apart from the multiple “how many kidneys do I have to sell to afford this?” comments — clearly not the brand’s target audience — the overarching sentiment that echoed throughout the comments section of the Louis Vuitton Tambour Carpe Diem campaign could be summed up in one word: “Wow”. These expensively produced videos clearly served their purpose: for product awareness, yes, but also to introduce the brand’s watches to a new audience. But beyond the self-serving reasons, these timepieces made by fashion brands have had another unintentional consequence: that of introducing Swiss watchmaking to a completely new audience.

 

Joey Luk, Sotheby’s head of watches in Asia, explains the phenomena: “Watches from luxury brands are particularly popular amongst the younger generations or new collectors, as they offer a more affordable and attractive price range. As knowledge and experience about collecting watches increase, these customers will likely move on to traditional brands to pursue other qualities of horology, such as complications, craftsmanship and technological innovations.”

 

 

She attributes this level of awareness to social media platforms, which have broadened the conventional collectors’ circle. It has a halo effect, and if you are already sold on Louis Vuitton’s bags, shoes, ready-to-wear, and trunks, the next logical step would be to complete the look with Louis Vuitton-branded watch and jewellery. Luk says, “It’s very likely that clients would pick up a (Hermès) Birkin and decide they would want a watch that goes with it or vice versa — due to the overall branding and marketing.”

 

She attests that in recent years, “complicated watches by Chanel and Hermès have been performing well”. She adds, “Brands aside, other highly sought after qualities and features include: (i) tourbillons, amongst other complicated watches, are more popular; (ii) endorsements by celebrities; and (iii) a preference for smaller watches compared to 10 years ago.”

 

It is important to note that the high watchmaking departments of brands such as Chanel, Hermès, Louis Vuitton and Gucci are not producing copycat, more affordable versions of the most famous Swiss watches. Instead, these luxury brands have adeptly honed in on their unique identities, and have pushed creative boundaries to build watches that perfectly echo their raison d’etre without diluting their brand image. Take Gucci for instance. Last year, it celebrated 50 years of watchmaking in Switzerland with the launch of its first haute horlogerie collection. Elements like bees, mint-coloured sapphire cases, and constellations abounded — not exactly what you would expect from a Swiss watchmaker (and neither is it everyone’s cup of tea) but the result is so inherently Gucci that you have to respect Alessandro Michele for remaining dedicated to his aesthetic vision of the brand.

 

 

Louis Vuitton, Hermès and Chanel — who have deeper (though not longer) horological histories than Gucci — have all made their mark on Swiss horlogerie. They have won awards, impressed even the purists with their playful and innovative takes on traditional movements — the Hermès L’Arceau Time Suspended, anyone? — and made sure that they do not rankle the gods of Swiss watchmaking by disrespecting traditional mores. Where these brands stand out is that the movement is always at the service of design. This means that the design team first comes up with the crazy concept, and subsequently challenges the watchmakers to make their outlandish ideas come true. Case in point: When Chanel wanted to hop on the tourbillon bandwagon back in 2012, they asked their partners Renaud and Papi to shape the bridge in the form of a camellia — Gabrielle Chanel’s favourite flower. Giulio Papi’s response? “You must be mad.”

 

Perhaps, but madness — as Adam Neumann would attest — is what separates the wheat from the chaff. That year, the Première Flying Tourbillon with a camellia shaped bridge bagged the best women’s watch at the Grand Prix d’Horlogerie de Genève (GPHG). Perhaps it is high time that we rebrand the derogatory connotation that comes with the phrase “fashion watch”. These luxury houses have poured in blood, sweat and lots of money to stand shoulder-to-shoulder with the watchmaking greats. They refused to simply licence their product to a manufacturer and stamp their logo on the finished product even though commercially, that might have made more sense (we’re looking at you, Michael Kors). But instead, they played the long, arduous game, taking a deliberate and long-term view of their horological aspirations. They established a presence in Switzerland, set up ateliers and acquired specialists along the way to realise their ambitions. To paraphrase a watchmaking giant based in Le Brassus, they had to master the rules of watchmaking before they could break and shape them according to their identity.

 

They hired the right people, partnered with the right talents, and spent years studying and mastering Swiss techniques, craftsmanship and know-how. Slowly and surely, they have also been vertically integrating their manufactures, and taking control over the production of components such as cases, dials, balance springs and more.

 

 

Beyond a desire to propagate Swiss watchmaking and master their horological aspirations, there was another event that pushed these brands to bolster their watchmaking production: They were triggered by the Swatch Group’s infamous decision in 2013 to limit the distribution of ETA movements. Without a ready supply of ebauches, they had no choice but to ramp up their own production and take control over the narrative. This has led to acquisitions that not only protect traditional watchmaking techniques, but also support independent watchmakers and manufacturers by giving them a healthy financial backing. Of course, this heady concoction of events has resulted in unbridled creativity, allowing these fashion brands to truly develop their unique watchmaking ethos and deliver a unique, and dare we say stylish, take on watchmaking.

 

In the next few pages, join us as we delve into the impact that these fashion brands have had on Swiss watchmaking, and how they have helped keep the legacy of Swiss watchmaking alive with strategic investments and thoughtful creations.

 

Hermès

 

The history of Hermès has oft been documented: long story short, it started its life as a saddle-maker before it launched that bag that has spawned years-long waiting lists. But lesser known is its watchmaking heritage — it started with a tiny blip back in 1912, when a photo of Émile Hermès’ four daughters featured one of them, Jacqueline, wearing a wristwatch (remember, pocket watches were all the rage back then) with a strap made by the atelier’s saddle-making and leather craftsmen.

Its horological ambitions were certainly not linear: a decade or so later, Hermès would dedicate a section of its Rue Faubourg boutique to watches, offering timepieces from famous Swiss brands (yes, Rolex included) stamped with the Hermès logo.

 

It was in 1978 that things got serious: it set up a watch division in Bienne to find out more about the impact the city has had on watchmaking, to produce trendy fashion watches including the Cape Cod and the stirrup-inspired Arceau.

 

This strategy served the brand well for two decades, with the launch of interesting watch collections like the Medor and the Kelly. But it was time to get even more serious: in 2003, under the tutelage of Guillaume de Seynes, executive vice president of Hermès and a sixth-generation member of the Dumas family (Jean-Louis Dumas is his uncle), La Montre Hermès acquired a stake in Vaucher, officially solidifying its intent to grow its watch division. Less than 20 years later, it seems like the strategy has paid off: in 2021, Hermès entered the hallowed list of the top 20 Swiss watch brands, ranking number 19, just ahead of Bulgari. Today, Hermès’s watch division accounts for 4 per cent of the company’s revenue, and sold 58,000 units in 2021.

 

Hermes Arceau Le temps voyageur


How exactly did it achieve this?

1. Strategic investments.

2. Doubling down on its playful identity and designing watches that serve to amplify the Hermès identity.

3. And a laser-pointed focus on honing its expertise in artistic crafts and bracelet-making, while continuously refining its watchmaking know-how.


Hermès watches have never deviated from the core Hermès identity that permeates its entire universe. They are whimsical, playful, beautifully made, artistic and dreamy – they put the fun in luxury, without ever coming across as juvenile.

Even its complications are executed in a quintessentially Hermès fashion: A moonphase in Hermès’ hands, for instance, features two-subdials that orbit around the dial to indicate the lunar cycle. With a base movement by Vaucher, and the inventive display conceptualised by Chronode, the Arceau L’Heure de la Lune is replete with charming details, like a meteorite dial, a Pegasus motif subtly painted on the moon, and those curved Arabic numerals.

 

This creativity has been amplified by other watchmaking acquisitions: dial-maker, Natéber and case-maker, Joseph Érard.

 

Furthermore, harkening to its heritage, Hermès fabricates leather straps at its workshop in Bienne, which opened in 2006. Here, leathers including goatskin, calfskin, ostrich skin, and alligator leather — selected with the same exacting and meticulous standards as its bags and saddles — are carefully manipulated into watch straps, with an utmost attention to detail and strict quality control.

 

Chanel

 

The words icon and revolutionary are bandied about way too liberally in the watch industry, which is why I hesitate slightly to make the following declaration, but make it I must: Chanel revolutionised horology when it launched the ceramic J12 in 2002. There, I said it. In the same way that stainless steel was considered tool-watch material until the launch of the Royal Oak in 1972, the J12 introduced a design lexicon that was virtually unheard of at that time. A four-figure, almost-plastic-looking watch that could not be scratched? Unfathomable.

 

But Chanel had just gotten started, and that was just its nascent step on its horological journey. The man responsible for igniting Chanel’s watchmaking flame was Jacques Helleu, the brand’s artistic director at that time. In 1987, he conceived the Première watch, recognisable for its shape that emulates the Chanel No. 5 bottle stopper. A few years later, in 1993, Chanel would establish its Swiss presence by acquiring a stake in G&F Châtelain, a manufacture that specialised in the finishing of movements and other watchmaking skills. It was set up in 1947 by two brothers, Georges and Francis Châtelain, and had worked with Chanel on the production of Première, thus organically paving the way to its eventual acquisition.

 

Located in La Chaux-de-Fonds, G&F Châtelain represents a very important piece of the puzzle for Chanel, as this is where it manufactures — from scratch — the ceramic that it uses for its J12 watches. Essentially, high-tech ceramic grains undergo a high-pressure, high-heat treatment to solidify into the material’s final form — it is a labour-intensive task, and one that requires precision and experience. It must be noted that Chanel’s ceramic-making technique took six years to be perfected, and the secret to the material’s lustre, strength and quality remains closely guarded.

 

La Chaux-de-Fonds

In its ambition to expand its watchmaking division, Chanel would make a few more strategic investments to establish it as a bona fide watchmaker — after acquiring G&F, the Wertheimer brothers (controlling shareholders of Chanel) also bought a “friendly” stake in Romain Gauthier in 2016, a 20 per cent stake in FP Journe in 2018, and 20 per cent stake movement-maker Kenissi in 2019. 

For independent watchmakers like Romain Gauthier and FP Journe, this partnership allows them to secure their businesses, and ensures that their brands will continue long after they are gone. Post-acquisition, Journe revealed that he agreed to sell a stake of his company “to guarantee the future of his company”, given that none of his children want to follow in his footsteps.

 

This deliberate acquisition of skilled artisans is in line with Chanel’s greater ethos: its subsidiary Paraffection has slowly been acquiring couture ateliers in France that specialise in rarefied crafts — its ambition is to protect handcrafted techniques and metiers d’art, ensuring the know-how is passed on from generation to generation and not lost to the annals of time.

 

And one thing that we should give Chanel credit for is that it has never seen its “fashion” roots as a disadvantage. It has embraced and leveraged its expertise in couture time and again, bringing fashion crafts and motifs to its watchmaking endeavours, as evinced by the Mademoiselle Privé collection that often showcases artistic crafts such as embroidery on the dial.

It is a strategy that has helped set it apart, and has spawned timepieces that unapologetically straddle the line between fashion and horology — all while respecting the codes inherent to Swiss watchmaking. In fact, in 2016, it surprised us with the launch of its first in-house movement, surprisingly fitted in a men’s watch, Monsieur de Chanel.

 

Calibre 1 features an instant jumping hour and retrograde minute, but beyond its technical specs, it also revealed Chanel’s hand: the brand was not interested in using its resources to build an in-house automatic, simple movement. No, it wanted to show off the prowess that it had built over the years, and to affirm its position as a bona fide watchmaker. Subsequent in-house movements would include a flying tourbillon (Calibre 5), a skeleton movement (Calibre 3) and a manual-winding skeleton movement shaped like a camellia (Calibre 2).

 

Gucci

 

While Gucci has only amped up its high watchmaking production in the past two years, it has a long history of producing cool timepieces — in 1978, its Model 2000 timepiece broke world records by selling more than one million units in two years. Over the years, Gucci’s watches have continued to be stamped by the Swiss-made label, inking its spot at number 25 in a Morgan Stanley 2021 report on the top-selling Swiss watch brands.

 

This was thanks to the fact that in 1972, Gucci inked a licencing agreement with the Severin Montres Group, essentially cementing its presence in Switzerland. Since then, it has anchored its production in three locations, focusing on different expertise: At its workshop in La Chaux-de-Fonds, this is where Gucci conducts quality control checks, assembles the watches, and does the jewellery-setting. Over at the Kering manufacture in Neuchâtel — which also serves as the headquarters for Gucci watches — the ideas are percolated via the design process and its in-house movements are produced. Then, in Ticino (the Italian-speaking region of Switzerland), its visual mastery comes to life at the Fabbrica Quadranti workshop, which manufactures the Gucci dials. The Florentine dial-maker started working with Gucci 15 years before the Italian brand acquired its operations in 2013.

 

It is clear that Alessandro Michele and Gucci have high aspirations for the watchmaking division, evinced by the launch of its high watchmaking collection in 2021. Unapologetically ostentatious, the watches are tres Gucci, subverting design norms and drawing inspiration from myriad sources — creating, ultimately, a veritable Gucci Wonderland. But still, regardless of how you feel about the aesthetics, one cannot deny that the watches are well-made, kowtowing to traditional Swiss watchmaking techniques without plunging into the tried-and-tested category.

 

Gucci Dive Bio-Based

 

In true Gucci statement-making fashion, its high watchmaking aspirations were cemented by the launch of its first in-house movement, the ultra-thin the GG727.25, housed within the Gucci 25H. The 25H is reminiscent of a 1970s sports watch, with a cushion-shaped case, integrated bracelet, striated lines on the dial, and a clever three-layer case design that hides the crown. Naysayers dubbed the timepiece a “NautilusOak”; it is perhaps not the most creatively designed watch in the line-up, but will probably be its most commercially successful. Prices for the steel quartz version (which comes with a range of funky-coloured dials) start at US$1,700, but if you want a gold or platinum edition, the automatic watch will cost you US$9,700. The tourbillon version costs a cool US$142,000.

 

For 2022, the 25H has received an haute horlogerie upgrade: this time, the tourbillon version has been skeletonised, further showing off the technical chops of the Kering manufacture.

 

Will this — or the other truly bombastic timepieces that Gucci has launched — be purchased by the Patek Philippe or Vacheron Constantin purist? Perhaps not, but they are not whom Gucci is targeting. Those who buy its watches will mostly not be swayed by technical innovations or even an in-house movement — but they are the early adopters who are happy to embrace the unconventional. They grew up wearing Flik Flaks and Apple watches, and do not necessarily want to wear the same watches their fathers do — Gucci’s watches are a way of introducing them to this rarefied world, packaged in a youthful dressing.

 

Louis Vuitton

 

In its press release about the Tambour 20 (a watch that celebrates the 20th anniversary of Louis Vuitton’s signature Tambour collection), the French maison states, almost as a footnote: “A tribute to Louis Vuitton’s travel legacy, clients can continue to protect their most precious belongings in cases that will stand the test of time… Said time, however, is not likely to have passed before Louis Vuitton’s legitimacy as a watchmaker is well and truly established…”Talk about being painfully self-aware…

 

But it is telling of the trajectory that Louis Vuitton has undertaken in the past 20 years to firmly establish its credibility as a watchmaker. An instrumental decision was its acquisition of La Fabrique du Temps, which was the brainchild of watchmakers Michel Navas and Enrico Barbasini. Both were master horologers who had cut their teeth collectively at Patek Philippe, Audemars Piguet and Franck Muller — the latter was during the Crazy Hours era, where their watchmaking know-how was pushed to the limits.

 

Their objective for setting up La Fabrique du Temps was simple: To think outside the horological box. Unsurprisingly, Louis Vuitton came calling in 2011, its mandate being to cement its watchmaking expertise in Switzerland. Anchored firmly in the twin tenets of sailing and travel, Louis Vuitton wanted to produce timepieces that conveyed its adventurous spirit by reimagining classical complications and presenting them in new-fangled ways.

Over the years, Louis Vuitton would further establish its Swiss presence with the acquisition of dial-maker Léman Cadran, and the establishment of a 4,000 sqm Louis Vuitton High Watchmaking facility in Meyrin.

 

The manufacture’s strategic location in Geneva gives Louis Vuitton another advantage: it allows the brand to submit its timepieces to the Geneva Seal institute, further guaranteeing that its watches are produced with the finest attention to finishing and manufacturing. Without swaying from its core DNA, Louis Vuitton’s watches have made waves for their unique take on horology — take the Spin Time, which features 12 cubes instead of conventional numerals, which jump to the next hour to reveal the time. Over the years, this intelligent display has been used to display the five-minute regatta countdown as well as the time in your home city on the GMT version. It has also been artistically reimagined, as seen in the Escale Spin Time, and been re-engineered using lightweight aluminium to reduce the size of the case.

 

This is all to say that Louis Vuitton is no ordinary luxury brand, and its watchmaking endeavours are similarly guided — it is not afraid of defying convention, and the words “technical feat” feature often in media reports for its unorthodox approach to prosaic functions. Case in point: its 2022 Tambour Spin Time Air Quantum takes inspiration from quantum physics, and features minuscule LED lights that illuminate the watch on demand. The cubes are constructed in silicon dioxide — a type of glass — which gives the impression that they are floating. By consistently straddling the lines between innovation and tradition, and everything in between, there is no denying that Louis Vuitton has carved a neat niche for itself in the annals of Swiss watchmaking. Has it established the legitimacy it sought 20 years ago? You tell us.

 

 

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Grazia Officially Launches In Singapore

Grazia Officially Launches In Singapore

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Here’s everything you may have missed from GRAZIA Singapore’s sparkling launch party

By GRAZIA SG

Legendary magazine brand GRAZIA made its official debut in Singapore last night at the Andaz Singapore. In the presence of His Excellency, Mario Vattani, Ambassador of Italy to Singapore and Brunei Darussalam, Daniela Sola, Chief Executive Officer of Reworld Media Italia Srl, and Olivier Burlot, CEO of Heart Media, over 400 attendees from the worlds of fashion, beauty, design, technology, finance, and more, came together to toast the inauguration of Singapore’s newest fashion and luxury title.

 

Mario Vattani, Ambassador of Italy to Singapore and Brunei Darussalam

We are delighted to welcome GRAZIA in Singapore: we look forward to a partnership with this iconic Italian magazine. From this strategic hub in the whole region, GRAZIA—who already counts on millions of readers in more than 20 countries—will broaden its reach in Asia, bringing Italian lifestyle, fashion and design to a refined and well travelled public who loves the quality and excellence of our (products) made in Italy,” said Mario Vattani, Ambassador of Italy to Singapore and Brunei Darussalam.

 

Guests were lavished with a celebration of all things Italian for the evening, including a special performance by opera singer Rony Jorge, who belted out classic Italian ballads at the start of the evening; a summery GRAZIA gelato stand; drinks from Campari and Cointreau; stilt walkers; a 360-degree video photo booth; a souvenir photo stand that turned guests into GRAZIA cover stars; and a special set by one of Singapore’s star DJs, Eden Cai, who spun well into the night.

“It is our immense pleasure to introduce this historic fashion title from one of the world’s top fashion capitals to the Southeast Asian region, alongside our sister publication in Malaysia, and to carry its proverbial flame to our bustling part of the world. Our vision for GRAZIA Singapore is to inspire and provoke our readers with bold, compelling content powered by purpose, shining the spotlight on Asian talent in fashion, beauty, culture and beyond, from every part of the world,” said Pakkee Tan, Editor-in-Chief of GRAZIA Singapore.

 

See all the images from the sparkling launch event here:

 

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Most Expensive House in London on Sale for £250 Million

Most Expensive House in London on Sale for £250 Million

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Once owned by the Saudi Royal Family, the Holme is a four-acre mansion located on one of London’s royal parks — Regent’s Park.

By Joseph Low

The Holme, a four-acre mansion located in London’s Regent’s Park, is set to become the city’s most expensive property and the world if it finds a new owner. As reported by the Financial Times, the property has been listed on the market for an asking price of £250 million. This staggering price edges out strong contenders such as the £210 million 2-8a Rutland Gate property on Knightsbridge and the US$250 million penthouse atop Central Park Tower to claim the title as the most expensive abode on the market.

With 40 bedrooms and an impressive 29,000 square feet of living space, the estate is easily the top choice for those searching for a family home where members can gather during the holidays. Apart from the countless rooms, The Holme boasts eight garages, a tennis court, a library, a sauna and a grand dining room. Also on the property is an ornamental lake, a sweeping lawn and lush greenery. 

Located on one of the eight royal parks in London, the Holme is expected to attract bouts of wealthy buyers from the city and overseas. According to Quartz, “The London housing market has been attracting an increased number of international buyers, with foreigners purchasing 48 per cent of real estate considered ‘prime central’ in the city last year.”

This strong sentiment among the world’s wealthiest serves as a strong contrast against the rapidly declining market and rising inflation rates across the world. Despite these unfavourable conditions, the rich are still making big purchases and this demonstrate how the wealthy considers property an essential aspect of diversifying one’s portfolio.

Designed by Decimus Burton, a prominent 19th-century architect, in 1818, the property typifies a Regency-style building. It also has Ionic influences as seen from the slender columns on the patio. The first owner was James Burton and more recently, the ownership could be traced to the Saudi royal family when it changed hands in 1998.

It was reported that the mansion was repossessed after a loan of US$180 million expired. Receivers also seized other assets including a private plane and a property in New York. The sale of the Holme, with its high asking price, would be the quickest way to repay the loan. The massive house is on the market with Beauchamp Estates and Knight Frank.

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Johanna Monange, Founder of Maison 21G Shares Her Business Philosophy

Johanna Monange, Founder of Maison 21G Shares Her Business Philosophy

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“My mission: become the n°1 tailored perfumery brand globally and empower everyone to create their own perfume”

By Joseph Low

What led you to create Maison 21G and tell us more about the innovative concept of bespoke perfumes?

Evocative, distinctive, and memorable, I deeply believe that the fifth sense inspires profound emotions and connections with others. Your signature perfume is so much more than a mere accessory; it is a true extension of your personality, a tool to imprint memories, and bring confidence throughout key moments of your life. As such, I believe that your scent should be as unique as you are!

 

In 2020, I conceptualised Maison 21G, supported by my passion and 25 years of experience in perfumery as a creative director working alongside renowned designers and perfumers. Throughout this time, I watched this beautiful industry lose its soul and settle for one-size-fits-all scents, creating the same everyday floral, fruity, and gourmand scents for everybody, while pushing huge marketing campaigns at the expense of quality, distinction, and character of what is inside the bottle. I felt that something was going wrong in this beautiful industry, so I decided to break free from the glamorous corporate world and shake the conventions of this sleeping industry.

 

My vision was to bring back the “power of creation” into the hands of consumers, offering a unique and engaging scent discovery experience. Committed to a cleaner perfume industry, I was driven by a desire to bring transparency, sharing, education, and sustainability to make a better perfumery world for the next generation. My ultimate mission was to recreate a real “Maison de creation” for all of us, creating a unique experience with beautiful scent encounters.

 

The concept of “experience” is key for opening and running a boutique. What is a successful “experience” for your customers?

 

Maison 21G is a luxury Maison of Creation with modern iconic flagship stores worldwide, using a poly-sensorial approach to create a unique retail experience. We aim to create a luxury experience in perfumery like no other for our customers. We inspire confidence, self-expression, and exploration in perfumery, with a poly-sensorial approach. With 10 flagship stores across the world, every corner of our boutiques is meticulously curated with a series of dedicated zones such as our famous innovative scent bar to discover and choose your ingredients, the perfumer organ where consumers blend their own scent, and our private atelier’s areas to learn the art of creation.

 

We also continually seek new technology to enhance our experiential retail offerings. For instance in line with our commitment to innovation, we offer a unique AI personality quiz. Our open app collect information such as your skin tone, your scent preference, your values in life, and your desired benefits to recommend well-matched scents for each individual. Our RFID Technology informs and educates shoppers on the origins, the olfactive profile and properties of our scents.

 

After creating their custom scent, customers can add a personal touch by using our complimentary UV Printing Machine to customise their perfume bottle design. In addition, we provide perfume workshops for couples, team building events where our scent experts guide clients in creating a personalised fragrance in one hour by appointment.

 

Our experiential retail space encourages cross-cultural exchanges. And customers come together to share ideas and cultures, pushing the envelope of creativity. Maison 21G is committed to disrupting the luxury industry by creating a community of fragrance designers, connoisseurs, aficionados, or novices in every major city in the world, driven by a unique offline retail experience, relayed by a strong digital presence to complete the offline experience with a dedicated loyalty program, and automatic reorder services for your personalised scent from anywhere in the world.

The personalisation of scent is at the core of Maison 21G’s concept? What are the parameters that go into determining a bespoke fragrance?

Johanna Monange, Founder of Maison 21G

Maison 21G is a brand that prides itself on its commitment to craftsmanship, personalisation, education, and experience. At the heart of our business model is the desire to create bespoke fragrances that are tailored to the unique personality and olfactory preferences of each of our customers. Our flagship stores serve as laboratories, where highly-skilled scent designers guide customers in their scent creation, ensuring that their personalities and preferences are considered at every step of the process. We believe that a perfume is much more than just an accessory. It is personal, intimate, and becomes your voice to express your unique identity. This is why we offer our customers direct access to perfume concentrates with the highest percentage of fragrance concentration to make tailor-made haute perfumery accessible.

 

The process of creating a bespoke fragrance at Maison 21G is interactive, engaging and fun: we begin by asking customers to fill out our personality quiz, which focuses on their values in life, personal DNA (nationality, skin colour, age), likes and dislikes related to their olfactive preferences, and the reasons they want to wear a particular perfume (to be seductive, elegant, outstanding, relaxing, etc.). This builds a customer scent profile that is unique to their identity. We have defined five unique personality profiles, each with its own distinctive ingredient recommendations. For example, an “Impressive personality profile” will need a perfume that projects strongly, with long-lasting sillage, and features bold woody, oriental, and spicy notes. A “Social Enthusiast Profile” on the other hand, will be more drawn to softer, comforting, and caring notes such as musk, vanilla, and light juicy fruits.

 

With the use of cutting-edge technology, leveraging AI alongside more traditional skills, we are revolutionising the perfume industry by understanding the needs and tastes of each nationality, culture, and generation. The more customers we get, the more powerful our AI becomes, and the more precise the recommendations reveal themselves to be. As a bottom-to-top approach, we’re able to learn instantly from our customer base and answer immediately to new consumers trends in each capital like Seoul, Shanghai, Paris, and elsewhere. It’s a game-changing approach for the perfume industry, and the more we grow, the more knowledgeable and concise we are able to become in tailoring scents to individuals.

 

Workshops are at the very core of the Maison 21G DNA. What is your favourite memory of a Maison 21G workshop you organised in 2022?

 

We believe in the power of scent to bring people together, and our workshops are designed to offer an unforgettable and unique sensory experience. It’s a fun and exploratory experience, where people can reconnect, share, and learn about each other through scent.

 

One of my favourite memories is from a Love Atelier that we organised in 2022. During this workshop, the couple had the opportunity to take their love to the next level! A young man surprised his girlfriend with a marriage proposal. He had asked the scent designer to print “Marry Me” on the bottle that he had created for her. As he presented her with the bottle, he got down on one knee and revealed a ring hidden inside the box. The entire room was moved to tears by this romantic gesture. In that moment, I was reminded of the power of scent to create deep and meaningful connections, and I was grateful to be a part of such a special moment in their lives.

 

Tell us more about the sustainability efforts behind all the packaging and glass bottles used at Maison 21G? You seem to be amongst the very first luxury houses talking openly about recycling and the reuse of perfume bottles.

 

At Maison 21G, our sustainable pillar is integrated into everything we do. Our focus on eco-consciousness, ethical and clean production and distribution, is part of our commitment to excellence, quality, and luxury. In an industry where the use of buzzwords and marketing jargon to ‘greenwash’ products is rampant, we strive to be transparent, honest, and open about our sustainability practices.

 

To achieve our sustainable goals, we have partnered with IFF-LMR (Laboratoire Monique Rémy) to source the highest quality of perfumes. IFF’s vertical integration allows us to control every step of our ingredients supply chain, and its adherence to specific sustainable and clean criteria, including environmental responsibility, fair working conditions, and positive relations with local communities.

 

At Maison 21G, we pride ourselves on being transparent and open about what we include in our bottles and what we don’t. Our scents are 100 per cent vegan, cruelty-free, CMR-free, paraben-free, phthalate-free, and preservative-free. We also formulate our scents as biodegradable to reduce our environmental impact.

 

We believe in creating products that are recyclable and refillable. We have banned the use of plastic in any of our products. We are the first company to have refillable bottles, encouraging shoppers to reuse their bottles, with discounts and incentives for those who reuse, recycle, and reduce their waste. By committing to eco-consciousness, ethical production, clean sourcing, Maison 21G is taking steps towards a greener future for all.

 

You have expanded your product range and Maison 21G now offers within its boutiques perfumed candles, the very start of an elaborate home scent collection. How is it performing?

The pandemic brought unprecedented changes in our lifestyles, with people spending more time at home than ever before. At Maison 21G, we recognised that consumers were looking for ways to make their home environment more comfortable, inviting, and reflective of their personalities. This inspired us to launch our sustainable, natural, and customisable Home Scents range, and we’re delighted with how it has been embraced.

 

 

Our Home Scents range was launched with the same bold and disruptive approach that characterises our perfume range, and is underpinned by a commitment to wellness, including all-natural ingredients that can help customers relax, focus, and sleep more effectively. We believe that people deserve to unlock the scent of their soul, and our Home Scents range is designed to make that process easy, enjoyable, and eco-conscious.

 

 

The collection includes our beautiful 100 per cent natural wax Dual Candles, Bespoke biodegradable Reed Diffuser, and natural Oil burner which allow customers to choose and combine their favourite scents in stylish and luxurious decorative objects, a premiere in the Home Scent world. As with our personalised perfumes, we put the customer at the heart of the creation process and set it apart from all of our competitors.

 

 

 

We believe that the knowledge to create a beautiful, healthy Home Scent for the whole family, should be accessible to everyone. E-commerce is rising fast across all continents. We see your team working hard on increasing the global digital presence of Maison 21G. How are online sales performing for you?

 

Maison 21G’s experiential online e-commerce completes the offline experience with a dedicated loyalty programme and automatic reorder services for personalised scents from anywhere in the world. We offer bespoke creative experiences to anyone, anywhere, with our DIY creative set, which we can send to any location across the globe. Our fully customised website allows a unique and playful creative experience at home.

 

 

Our lead magnet, the AI-Powered Quiz, guides consumers in creating the perfect scent combinations online based on their personality, culture, age, and different desires for a perfume, such as freshness, elegance, and seduction. The dual-scented crayon allows people to try mini scents before purchasing a full bottle. Today our perfume fans online who cannot access to our shops have grown significantly. A lot of people are tired of off-the-shelf scents and have leapt at the chance to craft their own scents from sustainable and high-quality ingredients on our bespoke website. Our brand promise of natural, clean, and ethically sourced essences has resonated strongly. Our core customer base consists of Millennials and Gen Z consumers from Asia, US, Canada, Australia, and Europe, seeking personalised products with an experiential edge online. Through various activations with online campaigns, direct marketing, and a dedicated, inclusive, engaged, and active community of scent designers, we have built a loyal customer base that shares our passion for creativity, quality, and sustainability.

Tell us about your latest expansion in the Middle East with the opening of a boutique in Dubai and a long term partnership with the Chalhoub group. This all sounds very promising!

 

 

We’ve been thrilled with the responses from the Middle East consumers since we launched Maison 21G. Fragrance is purely ingrained into their culture, and it is amazing for me to express the DNA of my brand there. I am personally passionate about the Middle East market, and we have exciting plans for the region with the support of the prestigious and professional Chalhoub Group.

 

In Dubai, I’m always inspired by the diversity of cultures and the natural creative instincts of the people I meet. They are so trendy and take amazing care of their image and scent identity. Dubai has no boundaries, and I love the grandiose and multisensory experiences found at every corner of this buzzing international capital. We’re looking to expand our presence in Dubai but also Abu Dhabi, with a focus on opening more stores in key selective top locations like Bloomingdales, Tyrano, Malls of the Emirates, and beyond.

 

In Qatar, we’ve just opened a beautiful flagship store in the brand new luxurious mall of Vendome, next to all the most luxurious brands. We’re now expanding and have established partnerships with prestigious stores such as Printemps, Galerie Lafayette, and Harvey Nichols, with a creative scent bar concept. We’ve been overwhelmed by the kindness and passion of the people for our beautiful ingredients and experiential concepts.

 

My biggest challenge now is to conquer Saudi Arabia, with the opening of our flagship store in Nakheel mall. We know it’s a demanding market in terms of quality and service, with a large base of perfume connoisseurs and aficionados. However, we’re confident that we have everything at Maison 21G to make an impact there. I’m personally involved in every aspect of the store opening, and we’re committed to providing the highest quality products and services to our customers in Saudi Arabia and across the Middle East.

 

Perfume is an inseparable part of Middle Eastern culture. What attitude towards perfume have you noticed amongst Middle Eastern consumers?

 

 

The Middle East is revered to a high degree and perfumery rooting in historical practices. For instance, the Persians were the first to use distillation in extracting oils from flowers to create beautiful essences that only Middle Eastern people have the culture to appreciate. Who would’ve known that decades, centuries later, perfume application still remains an essential ritual in their daily lives.

 

Renowned for the most fragrant of traditions — smouldering incense, burning bakhoor, using ritualistic essential oils, and fragrant teas — it is no wonder why the language of scent creation applies on many levels in their culture. From a spiritual way to anoint oneself before prayer to epitomising a personal fingerprint, deep memories of their life, a statement of themselves; perfume is a powerful tool in characterising one’s individuality here.

 

With surely the strongest olfactive preferences globally, the residents of the Middle East seek a bold, unique scent and definitely above-average longevity. Moreover, their traditional approach includes layering multiple opposing scents. Most prevalently, they use spices, earthy patchouli, deep resins and amber, sensual oud, floral rose Taif, all to create the most elaborate, exclusive, and astounding compositions unique to themselves, which they can find at Maison 21G. Our concept of creating your own perfume is perfectly adapted to Middle Eastern consumers who have been layering and mixing scents for decades. They appreciate the art of perfume making and have a deep understanding of the complexities of creating a unique scent that reflects their personality and style.

 

After opening boutiques in Vietnam and South Korea, what is your next important projects and developments across 2023 & 2024?

 

South Korea is a key market for Maison 21G in Asia and success in this country can have a significant impact on our brand’s reputation and expansion in Asia. Because South Korea is known for being a trending market for luxury brands, achieving success there can set the tone for the rest of Asia, including countries such as China, Thailand, and Vietnam. Consumers in these countries may be more likely to pay attention to a brand that has already proven itself in the competitive South Korean market.

 

Next for me is to continue expanding my brand selectively in Asia with experiential retail, sustainability, and education. I am committed to opening more flagship stores, shop in shop in luxury department stores, counters in duty free spaces, to bring our unique experience to every major capital.

 

My next biggest challenge for 2023-24 will be China where we have a very ambitious plan with Eternal group. We’ve already opened a beautiful store in Hainan with Lagardere and will soon be opening flagship stores in Shanghai and Shenzhen, as well as partnering with trendy distributors who understand and can express our brand DNA. To reach trendy Gen Z and Millennials, we’ll also focus on digital platforms like Tmall, Weibo, Little Red Book, and WeChat, translating our AI quiz and promoting our hero products in Chinese.

 

In China, consumers have a relatively short history with perfumery and are eager to learn about the ingredients, discover their preferences, and develop their own scent style. They’re also interested in learning about perfumery tips and tricks, including what scents to wear for different occasions and the differences between high- and low-quality perfumes. The trend towards niche perfumery in China reflects a desire among consumers to express their identity and individuality through fragrance, as well as a growing appreciation for high-quality, artisanal products. This trend is partly driven by a desire to stand out and be different from the crowd, with unique fragrances that cannot be found in mass prestige perfumes. Chinese consumers are also increasingly interested in unconventional scents with characters that allow them to express their edgy style.

 

To adapt to these different expectations, Maison 21G will tailor our marketing approach and services to Chinese consumers. This is the strength of our personalised approach, which is not only tailored to the individual but also to the culture and context. We put high effort into localising our approach, considering the cultural and historical context of perfumery in each market and how this influences consumer preferences and behaviour to succeed worldwide. The era of “one-size-fits-all” perfume and super-centralised marketing is definitely over, and I am excited to be at the forefront of this new approach to the industry.

 

Where do you see Maison 21G in five years down the road? Any IPO planned ahead?

 

Become the number one tailored perfumery brand globally.

 

The brand aims to challenge ready-made products and establish a new segment in the fragrance industry: the Tailored Perfumery segment — after the surprise of Niche Perfumery. We intend to have iconic Houses of Creation in key fragrance capitals worldwide to install this new segment via the brand’s strong credentials in design, innovation, and sourcing new natural ingredients for our scent designer community.

 

We continuously improve our service and training of Maison 21G scent designers, possibly building an academy of perfumery to share knowledge and expertise. We have projects in Web3 to tokenise our unique perfume creation recipes, which will prevent copying and grant ownership to our loyal customers, preserving their creativity at Maison 21G.

 

We also plan to partner with other industries such as art, culinary, music, hotels, and mixology to create polysensorial events.

 

To support the vision and mission, Maison 21G will continue to raise smart money with bigger investors to challenge the traditional perfume industry, gain sustainable market share and become the most desirable perfume brand.

 

We want to keep the authenticity of what they do as long as possible, supported by active funds and financial partners who understand the importance of disruption, branding construction and innovation to meet the new consumers’ needs in perfumery.

 

How did you react to the purchase of Tom Ford by the Estee Lauder Group in November 2022 for a hefty US$2.8 Billion price tag (including debt)?

 

This acquisition of Tom Ford is a strategic move that strengthens Estee Lauder’s high-end luxury beauty portfolio. Tom Ford has established itself as a leading brand in the fragrance and cosmetics market over the course of several decades and has a significant presence in important growth markets such as the Asia-Pacific region and travel retail. Their success in disrupting the perfume industry years ago is noteworthy. This acquisition is a testament to the value of building a strong brand image with innovative products, reaching untapped consumers, and being led by a bold, strong founder.

 

Maison 21G aims to follow in Tom Ford’s footsteps by creating a luxury creative brand image with innovative products and services that can reach untapped consumers. We strive to be a challenger in the high-end luxury segment of the perfumery industry, focusing on personalisation, sustainability, and an experiential approach to create your own scents. Our commitment to creativity sets us apart from competitors, and we are constantly pushing the boundaries with new technology and machine learning to better understand the needs and tastes of our customers. We are bold and unafraid to disrupt the perfume industry, bringing transparency and openness into an industry sorely lacking in disruption.

 

What are the commanding valuation ratios in the beauty and perfume industry?

 

Valuation ratios in the beauty and perfume industry are determined by a number of factors, including a company’s size, growth potential, profitability, barrier of entry, technology, strong USP and brand image. When a company has a strong brand image and a disruptive approach, it tends to have higher valuation ratios. In the beauty industry, it is not uncommon for larger companies to pay up to 10-12 times a company’s revenue if they see potential for growth and expansion.

 

So for small beauty companies, the key to achieving high valuation ratios is to challenge the traditional business model and create a strong, disruptive value proposal with high barrier of entry and agility, that larger companies cannot easily replicate with their established structures. It is indeed difficult for larger companies to innovate as they need to balance risk and often have heavy structures to navigate.

 

This creates significant potential for acquisition and development with big groups, as they seek out innovative and disruptive companies to enhance their portfolios and gain market share.

 

In the perfume industry, by disrupting the industry with new and innovative ideas, small companies have a huge potential for acquisition and development with big groups and potentially command high valuation ratios in the process.

 

To find out more about Maison 21G, visit https://www.maison21g.com/home or contact them at create@maison21g.com

 

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Loic Serot of ASIAOMB, Event Creator for the World of Luxury

Loic Serot of ASIAOMB, Event Creator for the World of Luxury

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The luxury event creator demystifies the exclusive world of curated and unforgettable experiences.

By Joseph Low

An NFT artwork of Loic Serot
 

What Loic Serot loves most about his job is not only the access to a world of exclusivity and luxury but the real interaction and connection he can have with very different and interesting people, celebrities, artistic talents and chefs too. While gastronomy today has been elevated beyond comparison, it remains focused on the table, which has always been a locus for storytelling and history. There is so much to say about dinners, it is the most politically — and artistically — charged moment that can exist, in life itself.

 

Today at ASIAOMB, as Strategic Director and Art Director, he is broadening and developing the concepts and economy that he has created for dinner to other dimensions in luxury, travel, and yachting to successfully create other kinds of experiences.Ahead, we speak with Loic Serot to learn more about his experiences as an Event Creator.

 

You are an “Event Creator”, how important has been your family background in becoming who you are now (for eg. your father as an architect and your mother as a fashion designer)?

 

My parents raised my brother and I with an open mindset and tailored a portfolio of very different experiences that encouraged us to explore a wide range of knowledge from different cultures, literature, architectures, art, fashion and music.

As our parents were often invited to openings, they were not home and we became responsible for our time. We were asked to surprise them when they returned. This pushed us to be creative, transforming the house into another theme by rearranging the lighting and objects, transforming the rooms into a starry hotel and sometimes even dressing up for the occasion. Experimenting with new recipes and cooking soon became a passion we both treasure.

The most fascinating part of my upbringing was my parents’ background as an architect and a fashion designer. They focused on converting 2D drawings into 3D realities, and that influenced the way I perceived things too. I find it transcendental to see the moment when an idea takes shape, birthing from a specific emotion, and then becoming a true experience of changing realities.

 

If you were to mention one mentor who is inspiring you in your daily life and career, who would that be?

My father, Daniel Serot. He was an unknown genius who played with his senses to manipulate reality and to create a stunning life.

 

Salvador Dali was another mentor that I look up to. He was not just an iconic painter but also an incredible event designer, staging “impossible” stories.

 

Another source of inspiration for me comes from the book “Image, Icon, Economy” by Marie-José Mondzain. The book explores the origins of the Byzantine empire’s war of representation and how it influenced our contemporary imagination. Sometimes I do think that Bernard Arnaut learned a lot from it as well.

 

What would you describe as your forte? What different perspectives do you provide versus other Event Producers?

I would say it is my ability to craft compelling stories based on the laws of the universe, attraction, and excitement, then to translate those stories into distinct chapters that possess their own power and energy of emotion through art, aesthetics and design, and finally to crystallize the magic by ending with a climax of memorable celebrations.

I don’t compare too much to other producers’ work. Instead, I follow my intuition and believe that the best ideas are hidden in the processes of nature, physics, the universe, history, technology and games. I focus all my attention on the subject and work until all parts are mastered, connected and alive in the same direction. Each project is a whole new “economy” to be envisioned and succeed.

 

 

Do you have any specificity?

At events, for example, the food plates were mainly used as a white canvas: an invisible support to contrast a chef’s creations, or as a backdrop to reflect the brand’s logo. But for me, each plate is more than a support or a statement, I create them with the same perfection as the other components of the experience. So, each course and plate works in the continuity of a narrative. They display, at first, a chef’s culinary economy (how gastronomy works as a combination of taste, temperature, substance, plating and intention) and then integrate those in a larger framework and artistic context to infuse emotions that link with the wider theme.

 

The concept of “experience” is key for you when designing an event. What is a successful “experience” for guests?

People attend events to experience something not commonly felt or expected. The key value is to successfully provide access to another reality. We, as event makers, have to be the conduit of newness and allow people to elevate themselves to another level of freedom and imagination — in essence, we are the magicians.

The principles we work by are: ritual, transfiguration, sacrifice, glorification and catharsis.

The actual return on event investment (apart from exponential sales) are these crystalized memories that must persist the longest. And they should be engraved, mirroring as well, brand’s name and philosophy.

 

Why do you specifically focus on events related to the world of luxury?

If you want to explore more in-depth about specific creation or concept in events, you need ways to afford them. So there is no compromise: the best for the best. For luxury brands and billionaires, they need you to generate exceptional moments for them and their guests. This is a challenge that I readily take on to create new dimensions and ideas to blow people away.

 

Is there anything you wish to add about your work?

We have learnt so much these last 10 years and chartered new directions for the next 10 so there will be a lot of changes coming. As a result of our work, we also created two new roles: “Dinner Designer” in 2010 and “Culinary-tellers” in 2012 who bring meaning to any event. These new roles have become essential in any high-end event today.

I think that our industry is more complex and sophisticated than in the past, involving a range of new techniques, representations, effects, personalisation and dimensions.  So it is crucial to be specific in your approach and invite the right person to do the right job, especially in Asia.

 

What brought you to Asia? And why did you settle in Hong Kong?

I was drawn to Asia due to its culture, philosophy, and cinema which I felt a connection to my work. After completing three masters in art, design and cinema, I was awarded grants and invited to participate in various art residences in Asia, including becoming a laureate of the prestigious Villa Kujoma, Kyoto in 2005. After this exceptional experience, I chose to stay in Asia. Hong Kong was growing to be fascinating enough to aid me in developing concepts I had about art, architecture and gastronomy.

 

Building upon the success of our experimentation in festivals and events, we founded ASIAOMB (AO), a company based on an avant-garde vision of unique, sensorial and luxurious curated experiences. For example, we were the first to create a full-immersive video projection and sound-designed series of dinners in Asia for K11 Founder Adrian Cheng in the K11 Art Mall TST opening at the beginning of 2010, inviting a young Singaporean pastry chef to lead the gastronomy and dishes structures, that has since become famous.

 

After Asia, what is another continent you would like to explore?

We did a few projects in Europe and a lot in South Asia, and we do love Hong Kong and Singapore for their high culture, curiosity and demographic. Now, it seems as well that some of the wealthy Chinese and Americans are interested in us. So, let’s see how it will turn…

 

 

What is your favourite memory of an event you organised in Singapore?

There are so many good memories of success. Chanel, in the heart of Aubazine; Cartier, Panthera Odyssey, a sublime exhibition that we signed; Bank of Singapore was one of the more outstanding projects involving virtuality and Web3 theme. The most amazing was definitely the launch of the biggest superyacht in Asia, the White Rabbit for the Goh family.

My very favourite among the others that I have done was the launch of Richard Mille 50-04 with Kimi Raikkonen. It was by far the most challenging but also the most rewarding. I had to come up with a way to raise funds for Kimi’s foundation, while also entertaining the guests with 3-starred meals and reviewing the watch. At first, I was unsure about how to mix luxury, haute watchmaking, celebrities, games and gastronomy, but in the end it all came together seamlessly. The event culminated with an ecstatic series of emotions from races, menu, TV show, table games, intensity and humour, all happened in a world-class setting.

 

 

Your next important projects across 2023?

After these three years of strong economic headwinds, we have re-evaluated AO to capitalise more on our exceptional skills. On the one hand, we are continuing to create stunning events for brands and the wealthy incorporating even more potentiality and vision. On the other hand, we are now beginning to engage with investors for a multi-immersion restaurant that would be a culmination and celebration of our 13 years of success in designing dinner experiences.

Additionally, there is also a hotel concept that has the potential to revolutionise the hotel industry with a new destination!  But most importantly, after several years as a sponsor and partnership agent, AO will host its own summit that will open in 2024, with the first-ever event that to generate positive carbon credits. Stay tuned!

 

And about dinner “design”?

The next one is named the “Jet lag dinner” and is being organized for one of our most loyal customers in Europe. We are creating a “flying sun” that will serve as the main source of light during the dinner. The event will incorporate elements of different time zones, economics, psychology, word processes and sustainability as these investors are interested in the blue economy. It will be truly amazing to play with the intensity and positioning of the sun to create an illusion of time dimension, distorting perception and reality and bringing attention to the pressing issue of climate change and our collective responsibility to address it.

 

The world is truly fascinating.

To learn more about ASIAOMB, click here.

 

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Gregor Gregersen, Founder of Silver Bullion, On the Precious Metals Market in 2023

Gregor Gregersen, Founder of Silver Bullion, On the Precious Metals Market in 2023

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“My fascination for financial markets was thus replaced by an unrelenting drive to create an alternative, truly secure, wealth storage independent of politics and counterparties.”

By Joseph Low

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Precious metals like gold and silver have been gaining prominence in the last few years. These commodities are becoming the preferred choice for retail investors to hedge against the impending recession. As a result of this growing interest, prices for gold and silver have risen more drastically such that people make a beeline to own bars of it.

Now, not everyone has the luxury of space to store gold or silver bars at home so that is how Silver Bullion and The Safe House come into play. Gregor Gregersen, the founder of the Silver Bullion, believes that more and more people will look towards building a robust precious metals portfolio and his company will be able to satisfy this demand for a secure and reliable storage facility.

Ahead, we speak with him to learn more about the precious metals market in the coming years and his motivation behind building one of the highest capacity vaults worldwide — The Reserve.

Hi Gregor, how did you become interested in precious metals, and could you tell us more about Silver Bullion and The Safe House?

I have been fascinated by the stock market since I was little. I became a stockbroker assistant in the US, and eventually ended up working with quants (math PhDs) at a bank’s structured product desk developing custom derivatives for institutions.

I learned to program some of the derivatives that have become our financial system’s little-understood, quadrillion-dollar foundation. These derivatives are complicated bets from different counterparties that offset each other to produce the desired behaviour. Mathematically they might be sound, but they have a fatal flaw in that they work only if all counterparties remain solvent.

This flaw became apparent in 2008 when Lehman Brothers’ US$35 trillion worth of derivative positions defaulted. Being twice the GDP of the United States, its impact brought the financial system within hours of collapsing.

I witnessed the consequences of this collapse, working as a senior data architect at a major bank in Frankfurt, and realised, with absolute certainty, that greed and incompetence had irreparably transformed our financial system into a fragile house of cards. It had become too leveraged and interdependent.

Physical precious metals, like gold and silver, were one of the few real wealth refuges that did not depend on somebody’s solvency, so they were in very high demand as people quickly bought them from every dealer or bank that still had stock.

By the time I decided to buy some physical silver, no physical bars were left. Banks and dealers would only buy back, and in the secondary markets, silver was trading at three times the official price.

I finally managed to buy a 1kg silver bar through a contact at the gift shop of the European Central Bank.

My fascination for financial markets was thus replaced by an unrelenting drive to create an alternative, truly secure, wealth storage independent of politics and counterparties.

This is still the drive behind Silver Bullion, which has delivered to clients over S$1.5 billion (or more than 730 metric tons) of gold and silver to Singapore, and The Safe House vault, which is safeguarding much of this bullion for our clients.

There are different types of commodities that one can invest in other than metals like agriculture and energy. Why are precious metals the preferred choice over other commodities?

Gold and silver are not just commodities. They are the world’s most enduring currencies (currency code XAU and XAG), are intrinsically valuable, practically indestructible, and cannot be printed out of thin air. They are effectively money that appreciates over time. Gold, for example, has appreciated on average by 7.8 per cent per year since 1970, from US$35.96 to around US$1,900 today.

Currencies backed by gold are limited by their gold holdings, which is why no government-issued currency is now backed by gold. Today’s fiat currencies’ worth depends solely on the perceived credibility of the issuer, allowing popular issuers to fund increasingly unsustainable deficits with no plans for repayment other than by issuing more currency.

Fiat currencies nearly always lose value over time through inflation, and eventually, become worthless once confidence in the issuer is lost. In contrast, gold and silver have endured throughout history as they have always been the neutral asset people trust, especially in a crisis.

To put it plainly, in a crisis, do you want to risk holding the next banana money or gold?

These monetary uses set gold and silver apart from other commodities, which must usually be consumed lest they decay.

Various news outlets have forecasted a recession in 2023. Why do you think precious metals are a good buy during a recession?

We are not heading into a normal recession characterised by negative to low growth and low inflation. Instead, most of the developed world is in a stagflation (defined as low growth and high inflation). On average, major currencies lost 9 per cent of their purchasing power in 2022. Such wealth losses have not been seen since the last stagflation ended in the early 1980s.

In a normal recession, the traditional advice is to purchase low-risk bonds, earn interest, and sit out the tough times. In a stagflation, however, buying low-risk bonds that pay 4 per cent or 5 per cent interest while your money loses an average of 9 per cent in purchasing power is not necessarily a good long-term plan.

While inflation might fluctuate year to year, inflation will remain uncomfortably high for the next five to 10 years because so much paper money was created over the past decade. Meanwhile, geopolitical tensions are causing trade to recede, making goods harder to make and, therefore, more expensive.

This prolonged high inflation expectation is not just my opinion. Singapore’s Prime Minister Lee Hsien Loong has made it clear in his 2022 National Day message that low inflation is not likely to return anytime soon.

As people see their dollar wealth erode, they will realise that they need to protect their wealth by buying something that tends to do well in a stagflation.

Precious metals tend to do well in stagflations. For example, during the last decade-long stagflation, the gold prices in US dollars surged from US$35.96 in 1970 to US$459 in 1981, representing an average 26 per cent increase per year for 11 years.

Central banks have already greatly increased their physical gold purchase in 2022. I think mainstream investors will slowly follow suit, ensuring that gold and silver will become increasingly popular this decade.

Why should one invest in silver and could you share with us the outlook of silver in the future?

 

Silver was the first global trading currency and, along with gold, the foundation of most modern currencies, including the US dollar and Pound Sterling. Silver literally means money in Spanish (plata) and French (argent). The Chinese characters for a bank (银行) literally refer to a place to store silver.

As an industrial metal, silver is indispensable, being the best electrical and thermal conductor and a potent antibacterial agent. Our mobile and electronic devices all have silver in them, which cannot be easily substituted away. When these devices reach end-of-life, they are often discarded in landfills, making the silver unretrievable.

So whereas gold is carefully hoarded, much silver has been literally thrown away a gram at a time over the past 50 years, leaving global silver reserves a tiny fraction of what they used to be. As of 2022, the identifiable above-ground silver inventories are only 52,000 metric tons compared to over 190,000 metric tons of gold that the World Gold Council estimates to exist.

Besides being surprisingly scarce, silver is also historically undervalued. In nature, the ratio of silver to gold is about 16 to 1, which was also the exchange ratio between silver and gold for most of history. However, gold is trading at 75 times the price of silver today, making silver over four times cheaper than its historical mean.

I would define silver as scarce, indispensable, undervalued, and largely forgotten by the mainstream. Most of my personal money is invested in silver, as I expect it to strongly outperform gold as we enter the next precious metal bull market.

Could you share with us why you have decided to build The Reserve in Singapore instead of another place like Malaysia?

Throughout history, when a country with unsustainable debts can no longer monetise their debts effectively, they tend to make drastic changes, usually at the expense of savers.

For example, during the Great Depression in 1933, the US suddenly made gold ownership illegal. It forced individuals to sell their physical gold to the government at US$20.67 per troy ounce or face up to 10 years in prison.

Essentially holding gold in the United States in 1933 became like holding cocaine today, a highly illegal and dangerous endeavour.

Following this gold nationalisation, the government increased the gold price to US$35 per troy ounce, effectively creating 70 per cent more US dollars for the government to spend at the expense of gold holders (today, gold is trading at US$1,850).

People who held their gold outside the United States were unaffected. So, it is important to store gold in a stable, well-funded, trusted jurisdiction that is unlikely to nationalise gold in a crisis.

Storing gold and silver in Singapore, which has no net debts and a fully funded pension system, rather than in highly indebted Western countries whose unfunded pension systems I consider to be a ticking timebomb, is a prudent choice.

Singapore is politically stable, has very low corruption, well-enforced property ownership rights, and investment-grade precious metals are exempted from taxes, which are all good things.

Singapore is also well-regarded internationally. It has a strong regional military presence comprising of over 420,000 active and reserve personnel and a military budget over three times that of Malaysia.

These are the reasons we are investing so heavily in Singapore.

The Reserve is going to be one of the biggest precious metals storage facilities in the world, why have you decided to embark on such a large-scale project and what’s your vision behind this project?

History tends to repeat and recurring cycles can be identified. Every 80 to 100 years, a new superpower replaces the prior one, and every 30 to 40 years, reserve currencies tend to get into a crisis (e.g. the US dollar in the 1970s) and are either saved or replaced. Such cycle transition periods are always painful and often involve wars.

I believe that this decade we will be facing such a transition period and that this will cause great demand for ownership of liquid physical assets, stored in safe jurisdictions in a transparent manner.

The Reserve is built to address this demand by:

  • Raising Awareness — Physical asset ownership is compelling, but it is difficult to capture people’s attention. The Reserve’s iconic structure symbolises the resurgence of physical assets while providing an attractive venue for related services and events.

  • Protect Physical Wealth — Since 2009, we have ceaselessly prepared for the next systemic crisis. The Reserve will be the culmination of our efforts and the go-to destination for holistic wealth protection solutions.

  • Bigger scale, lower costs — The facilities’ high floor loading and 15 high-security vaults allow us to lower per-ton-fixed storage costs by more than an order of magnitude compared to our prior facility. This enables us to efficiently store silver and valuable industrial metals in addition to gold, art, luxury timepieces, and other high-value items.

What are some services that will be offered on The Reserve that make it different from the others in the market?

Most vaults tend to be austere, inaccessible places. The Reserve has a more open, welcoming design and is cleverly compartmentalised to maintain high security without intrusiveness for most visitors.

We are currently storing over S$800 million in precious metals. Visiting the vault will be an experience. In our main 20,000 sqft vault room, we will store silver, and other valuable metals stacked 12 metres high. Walking through this room will be like walking through a canyon of silver.

Our clients can visit one of two labs in the facility that test the metals to learn about the five non-destructive testing processes we developed to authenticate and guarantee the metals.

Also, on site is The Xcess, a specialised bonded watch vault that will have 2,000 watch winders to store high-end timepieces optimally. These watches can be authenticated and maintained at a 2,000 sqft watch workshop within The Reserve. Once stored, the watches can be collateralised by the owner or sold to the highest bidder. Over time we expect to store a very exclusive watch collection.

The Reserve will additionally store art, wine, and whisky. We have approved zoning permission to conduct high-value international auctions in the facility. The facility will be a good venue for exclusive events.

Once this facility is fully operational, we expect third-party banks, family offices, and wealth managers to make use of the facility as well.

The Reserve will redefine what a vault can be.

Silver Bullion offers a unique secured P2P loan service where stored bullion can be collateralized for loans. What are the reasons behind offering this service?

Our secured P2P loan platform was launched in 2015. It allows customers to use their stored, authenticated assets as collateral to obtain loans peer-to-peer. The lenders are other customers who want to lend out cash for interest. Silver Bullion acts as an escrow and provides the platform to match lenders and borrowers based on a bid/ask process.

With this service, our clients have an added option of how they can use their stored assets. Perhaps they have investment opportunities and need liquidity without selling their bullion.

Having passed compliance checks to become storage customers, they can then obtain loans quickly since the collateral is a liquid physical asset. The system is designed to be very safe for lenders, and over the past eight years, we have had no defaults and averaged a yearly interest rate of just 4 per cent pa.

The loan platform has matched nearly half a billion Singapore dollars over 13,000 plus loans since its launch.

The company has been around since 2009, what are your biggest takeways from those years?

Maintaining a high level of trust and transparency with our clients is paramount. Sales are secondary to always building and maintaining this trust.

Strict AML/KYC and authentication processes are also indispensable to protect our customers and us. This is particularly true as we grow and invest so much capital into The Reserve.

Lastly, we are more than a conventional bullion dealer. We provide advanced systemic wealth protection solutions whereby precious metals play a big role. This important mindset distinction leads to, sometimes, radically different approaches compared to traditional gold vaults and dealers.

If you weren’t in the precious metals industry, what would you be doing for a living?

I would be developing smart software (a kind of AI) to optimise vegetable growth efficiencies for urban farming and franchise the systems. I hope to do this in the future .

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Winemaker Laurent Delaunay: Spotlighting the House of Edouard Delaunay

Winemaker Laurent Delaunay: Spotlighting the House of Edouard Delaunay

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Laurent Delaunay revives family wine business, House of Edouard Delaunay, with focus on precise wine-making from exceptional Burgundy terroirs.

By Joseph Low
Laurent Delaunay

 

Laurent Delaunay, representing the fifth generation of a family of winemakers and negociants, is reappropriating his family’s history. Though it had progressively declined over the last several years, the House of Edouard Delaunay, an old Maison with a rich and unique history, has always been closely connected to the Burgundy wine trade and was considerably involved in the epic intercontinental expansion the industry experienced throughout the entire 20th century. Bought back in 2017 by Laurent Delaunay, the great-grandson of the founder, it strives to regain its place within the inner circle of the great houses of Burgundy through the meticulous and precise vinification and ageing of exceptional wines from some of Burgundy’s finest terroirs.

 

Could you tell us about your youth and your early connection to winemaking?

Our family has been in winemaking since the 19th century. Delaunay has been a well-established name in Burgundy across the whole of the 20th century. I grew up with my father and my grandfather in the cellar and the vineyards and I started to work there with my father in 1989 after my studies in the US (Napa Valley). After a few years we were obliged to sell for various reasons. One was that my father was ill with Alzheimer’s disease, so he made some wrong decisions in terms of investments. The other reason was that it was in the early 1990s, and the economic situation became very complicated with the cost of oil going up with the first Gulf War. The business was therefore sold in a friendly transaction to a leading Burgundy negociant.

 

This then led you to new adventures in winemaking right?

 

Indeed! I stayed with the new owners for a couple of years, but I decided to branch out in 1995 with my wife Catherine, also a trained oenologist. We wanted to recover our independence, so we left and started our own company in the south of France. This is how we started Badet Clément to make wine in the Languedoc, Rhône Valley and Provence. The company became known for its “Les Jamelles” brand of varietal wines from Pays d’Oc, its high-end label Abbotts & Delaunay, and for selling more than 15 million bottles of wine around the world. It was a boom time in the south of France in the 1990s. Yet I always kept the dream of coming back to Burgundy and creating my own brand, my own range there.

 

Tell us about your return to Burgundy.

Château de Charmont

It is an amazing twist of life. The first step came in 2003 when our company Badet Clément purchased DVP (Domaines & Vins de Propriété), which distributes Burgundian domains. But the big step actually came in 2017 when we purchased the Edouard Delaunay brand name from the Burgundy negociant we had sold the brand to back in 1993 and some other buildings from relatives. We carried out extensive refurbishment at the château (Château de Charmont), which dates from the 19th century, the vaulted cellars and the buildings next door, which date from the 1950s and 60s and have been renovated in the style of factories from the 1920s and 30s. The metal beams and pillars, for example, are reminiscent of the metalwork used in the Eiffel Tower.

 

Looks like it is a dream which came true for you.

Indeed, this has been a project very close to my heart and a dream that has come true. My grandfather used to say that the House of Edouard Delaunay was “the smallest of the great Houses’’. My ambition is to return it to its former glory and make Edouard Delaunay a leading Burgundian wine house once more. We are on the right track to achieving such a goal.

 

What was it like to start from scratch in 2017 again and produce your first cuvee later on?

 

As mentioned, the first thing needed in January 2017 was to restore the château and winery in time for that year’s harvest. Next, we needed to put together a team, and I was able to hire a young and talented winemaker, Christophe Briotet. But the most complicated was finding grapes as we didn’t have our own vineyards. We were fortunate to have many friends and family members in the trade and obviously our connections with many small producers thanks to Badet-Clément’s DVP marketing arm really helped us. I was highly surprised that so many of them accepted our offer to buy their grapes, but then they all saw it as our “Renaissance” (rebirth), and for them it was also an amazing and rather unique story. A family that had ventured a few regions away and who was then truly back to Burgundy!

 

You have mentioned several times the importance of packaging and service to clients. Do you feel that you have actually adopted the codes of luxury Houses?

 

This is correct. From 2018 onwards all ranges of Edouard Delaunay wines have come in “luxury” packaging. We have paid a lot of attention to packaging because in Burgundy the wines are expensive and so it means that — worldwide and especially in Asia — people who can afford Burgundy wines are also people who purchase luxury goods. I feel that in Burgundy, very often, we pay a lot of attention to the quality of the wine but all that is around the wine – the packaging and the service – is not of the same quality. We wish to change that specific perception. We actually take our inspiration from Champagne or Cognac for the packaging as well as for the servicing and marketing to the consumers.

 

Do you have any expansion plans?

In Burgundy, we see the Hautes Côtes as a prime place for expansion, especially because of its high altitude which makes the grapes less prone to weather problems. The Hautes have actually much-unplanted land that is not classified and we can see the eventual production of single-vineyard wines from the region.

 

What are the key drivers which you follow daily?

 

My philosophy is all about listening, reading the terroir and the vines’ condition; trying to understand, and gently accompanying the natural evolution of the wine.

 

You have been elected president of the BIVB, the Burgundy Wine Board. What has been your key message to the BIVB members?

The need to keep track of trends in the wine trade worldwide. The need to understand the impact of climate change on the Burgundy region. I also keep stressing the need for Burgundy to keep open lines of communication with customers and the duty of the region to practice social responsibility. On a lighter tone, I also wish that people across the globe know how to pronounce Bourgogne and not only Burgundy.

 

How do you view Burgundy wine lovers in Asia versus European or American regular Burgundy wine drinkers? How do their taste or requests differ?

 

My grandfather established a presence in Singapore as early as 1932. Asia and Asian consumers have always been highly regarded in our family. I am very impressed by the level of knowledge Asian drinkers have about Burgundy. The US market has been a leading purchaser of Burgundy wines for over a century, yet Asia is catching up fast, and the wine audience is avid to learn and understand our complicated region classification. It is quite refreshing for a winemaker to know that the ultimate consumer knows what he or she is drinking.

 

Talking about Asia, tell us more about Badet-Clément’s presence in this part of the world?

Badet-Clément has a regional bureau in Hong Kong with a highly active, experienced and mobile team headed by Olivier Hui-Bon-Hoa. We also have a presence in Singapore, South Korea, Japan, China, Vietnam and lately in the Philippines.

 

Have you seen the 2017 movie by Cedric Klapisch “Ce qui nous Lie” (“Back To Burgundy”)? How did you personally react to that movie set in Burgundy and focusing on inheritance issues?

 

My wife and myself truly enjoyed Cedric Klapisch’s movie “Ce qui nous Lie”. It is a movie that is very touching for the local community because the story it tells is very realistic. Every wine-growing family has had to face the difficulty of arranging the transmission of the estate to the next generation, and it is a challenge we all must live with, especially at a time of rising land prices (inheritance taxes are on the high side in France). Cedric Klapisch shows these difficulties in a very straightforward light.

 

Your career and overall entrepreneurship story is amazing, have you got anything you wish to work on?

Yes, speaking in public. But I have progressed rather well on that matter by taking courses at the famed Cours Florent in Paris.

 

If you were to name someone who has influenced you in your career as an entrepreneur, whom would that be?

I learned a lot in terms of entrepreneurship and business from Jean-Claude Boisset, one of the smartest wine entrepreneurs I have met.

 

I also learned a lot from Aubert de Villaine. What I like is not only his wine philosophy but his life philosophy. I appreciate that he is not only one of the most emblematic producers of Burgundy but he has a vision, his thinking is across several generations, and he is very sensitive of the fact that in a traditional region like Burgundy, we do not inherit, we simply pass the land on. This gives you a vision and a perspective across centuries. You have to think and consider the consequences in the long term. 

Website: www.edouard-delaunay.com Contact details: Gabriel Camphuis – gabriel.camphuis@edouard-delaunay.com

 

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