Keeping Time For Generations
Luxury begins where necessity ends - when you arrive at a point where mere functionality is not enough, and you begin to seek perfection. Most things aren't perfect, even a lot of luxury goods and services aren't. However, it's when they pursue perfection and strive to push boundaries beyond what's seemingly possible, that they begin to embody what luxury is all about. From Rolex and Land Rover to the Four Seasons and Macallan, luxury is about taking that extra step. And to me, this idea of perfection is in the finer details, best exemplified by the details one can see on the face of a luxury wristwatch.
I grew up in a family surrounded by the business of watches, and a company that made dials, hands and indexes for some of the biggest brands in the world. When you see these elements with a keen eye, in isolation, you notice the finer nuances of what they bring to a timepiece, and you see how every detail informs the overall impact of a fine timekeeping instrument. It really is like a form of art, where colours and materials either complement or contradict each other, as they harmonise in different ways. What has always amazed me is that here is something that people have spent a lot of time perfecting, something I can wear every day on my wrist, and then pass it on to the next generation. There aren't a lot of things in this world that you can spend money on and say the same thing about. That drew me into the world of watches.
It's a big world though. Luxury could go from under Rs 1 lakh to Rs 2 crore, and higher. While brands such as Rolex start at about Rs 3 lakh, there are others such as Vacheron Constantin that start at about Rs 15-16 lakh. Of course, this depends on the materials used, features offered, and whether or not the timepieces have high complications. But, more than anything else, it depends on where the brands themselves stand in the world of timekeeping, and on their stories of watchmaking.
The world of horology
Reading the stories of watchmaking exposes you to the fascinating world of horology and the glorious history behind the timekeepers of today. And you learn that what we take for granted as we look at our wrists for the time didn't just happen. Some of the biggest names in watchmaking have actually played an instrumental role in bringing about the accuracy and perfection of timekeeping that we enjoy today. Rolex, for instance, invented the date display in an automatic wristwatch that changes on its own every 24 hours, among several other firsts such as waterproofness that we consider a given. Seiko invented the first quartz wristwatch. Being the names that shaped this world with their pioneering spirit and inventiveness puts a premium on the products they manufacture.
Modern timekeeping stands on the shoulders of those who have created and mastered the art over decades. And then there are the watch manufacturers that laid the foundation for those possibilities. While Breguet invented the tourbillon - a high complication that counters the adverse effect of gravity on the accuracy of mechanical watches kept static - brands such as Patek Philippe, Jaeger-LeCoultre and Vacheron Constantin made strides in complications that paved the way for modern timekeeping. Such names in haute horlogerie have consistently developed their craft, to attain higher standards of accuracy, achieving perfection through decades of research, and development in their own movements. Breakthrough after breakthrough is what makes them prestige brands.
Notches higher than even luxury brands, prestige watchmakers charge top dollar not just for the expensive materials they use, but for the substantial reputations they have built as masters of the craft. Their sophisticated finesse is understated, and way above the glitter of gold and dazzle of diamonds. The products they make are not mass-produced by machines. They are hand-finished to perfection, making them extremely exclusive.
Where innovation is key
When it comes to material value, it has never been enough just to use gold and platinum to jack up prices. There is innovation in the material itself. Luxury and prestige watch manufacturers are known to even develop their own alloys to increase visual appeal, of course, but more importantly to heighten the durability and resistance against scratches and damage. While Omega has its own gold-and-ceramic hybrid material called Ceragold, brands such as Rolex and Hublot have their own foundries where they even forge the metals used in their watches. Hublot's deep penchant for innovating with materials has led to inventions such as Magic Gold, a scratch-resistant 18-carat gold alloy realised through the 'fusion' of 24-carat gold and boron carbide, which is used in tank armour and bulletproof vests. It is such advancements that make Hublot an exception as it has made a mark in merely 38 years.
Another relative 'youngster' is Corum, which has carved a niche with innovations such as the in-line baguette movements seen in the Corum Golden Bridge watches. Then there's Nomos, the German 'new kid' that has created a distinctive presence in just 28 years, with strong design principles, and backed by in-house movement development and manufacturing capabilities.
The icing on the cake for brands such as Nomos and Hublot is their ability to tell the stories of their products with flair. The attractive communication is complemented by a strong narrative. This is also an area where Omega, Breitling, and Carl F. Bucherer excel. Conveying the stories consistently and with impact help in sustaining a brand's relevance through changing times.
Quality reigns
At the end of the day, the brands and products that stand the test of time are those that deliver true quality. True quality lasts a lifetime and more. Many companies produce fantastic watches, but with the slightest knock, they need servicing, or they stop working after two or three years. This kind of upkeep is the opposite of luxury for me, as it kills the experience of having these products. The offline and online experiences that brands deliver in their boutiques and on their websites, and the after-sales service. These are the things that make all the difference, and define luxury.
I have a Rolex watch, which my grandfather bought some 45 years ago, and I'm so proud of. How many products can you say that for? A luxury leather bag, which costs, say, $5,000, has a life of maybe eight to 10 years, and that's if you keep it well. On the other hand, a good quality luxury watch can last over multiple generations. Hardly anything else can make that claim.
