Horology at Its Peak: Innovation, Heritage, and Boldness in the Latest Creations
Richard Mille, Bulgari, Piaget, and Patek Philippe push watchmaking boundaries, while Eberhard & Co. and Perrelet reveal strategies. Ferdinand Berthoud honors traditional craftsmanship.
THIS WEEK’S NEWS
Why We Love the New Richard Mille RM16-02
Last week, the Richard Mille RM 16-02 appeared on my Instagram feed, worn by professional fencer and brand ambassador Miles Chamley-Watson. Instead of his usual fencing attire, Chamley-Watson was impeccably styled, standing beside a striking woman in a Brutalist architectural setting. Captured by photographer Emma Panchot, the image exuded effortless style, with two Richard Mille timepieces catching the light on their wrists.
The RM 16-02 comes in two versions: one housed in a grade 5 titanium case with micro-blasted satin finishing and polished bezels, and another in an eye-catching Terracotta Quartz TPT® case. Measuring 36 mm x 45.65 mm, the ultra-thin rectangular case is 10% smaller than previous RM rectangular models. Its dimensions ensure wrist presence, which is an intentional design choice.
A defining feature of this timepiece is its skeletonized dial, a mesmerizing interplay of titanium structures forming an intricate maze. The open-worked architecture allows light to pass through in a dynamic, ever-changing way, lending depth and complexity to the design.
At the heart of the RM 16-02 is the Calibre CRMA9, Richard Mille’s 15th in-house movement, specifically developed for these models. Its skeletonized grade 5 titanium baseplate is micro-blasted and treated with grey electroplasma coating, while the minutes bridge is highlighted with black PVD. The level of craftsmanship is extraordinary, with 67 precisely cut openings featuring chamfered edges.
Flipping the watch over reveals an entirely redesigned oscillating weight crafted from platinum and titanium. This bidirectional rotor, mounted on ceramic ball bearings, optimizes winding efficiency and fuels the 50-hour power reserve. Its geometric semi-octagonal form integrates seamlessly with the movement’s open-worked aesthetic.
On the dial, the hour markers interact with the exposed mechanics, creating a visual rhythm that draws the eye into the movement. Completing the timepiece is an integrated rubber strap—brown for the terracotta version and cream for the titanium model—designed for superior comfort.
Since its introduction in 2007, the RM 016 collection has continuously evolved, exploring new materials and designs. These latest models reaffirm Richard Mille’s ability to captivate both serious collectors and those drawn to the brand’s distinctive style.
Bulgari Inaugurates a Brand-New Métiers d'Art Workshop
Bulgari has taken another significant step in strengthening its watchmaking capabilities with the inauguration of a dedicated métiers d’art workshop at its recently renovated manufacture in Saignelégier. This serene and meticulously designed space serves as a creative hub where artisans craft some of the brand’s most intricate dials, pushing the boundaries of horological artistry.
For 34 years, Bulgari has been steadily expanding its presence in Swiss watchmaking, with key sites in Neuchâtel, Le Sentier, and Saignelégier. The latter specializes in both case and dial production—an uncommon integration that offers unique advantages. The Maison recognized that combining these two elements under one roof enhances efficiency and allows greater synergy between its artisans and micro-mechanics. This structure is particularly beneficial for métiers d’art timepieces, where delicate, artistic dials often require intricate gem setting on both the dial and case.
To optimize this process, Bulgari created a dedicated space within its Saignelégier manufacture, designed by a local architect to provide an atmosphere of focus and inspiration. A select group of artisans now work here, mastering techniques such as hardstone marquetry, peacock feather marquetry, micro painting, and gem setting.
Among the materials favored by Bulgari, malachite stands out for its deep green hues and natural striations. Crafting ultra-thin malachite dials presents significant challenges, often resulting in discarded fragments. One artisan had the idea to repurpose these remnants into mosaic dials, a concept that was enthusiastically embraced by the Maison’s designers. This led to the development of malachite marquetry, where the stone’s natural patterns are arranged in unique compositions.
Peacock feather marquetry is another distinctive technique mastered by Bulgari. Feathers naturally shed by these magnificent birds are carefully selected, cut, and fixed onto silk paper before being precisely arranged on the dial. The result is a shimmering, iridescent effect that enhances the watch’s visual depth.
Micro painting further elevates these artistic dials, with each color carefully chosen and applied in multiple layers before being fired in a kiln. Some of Bulgari’s peacock-themed dials feature this technique, using custom-ordered pigments to create vibrant and exclusive shades.
Finally, the gem setter’s expertise adds an additional dimension of brilliance, incorporating diamonds and colored gemstones using techniques such as snow, claw, prong, and channel settings.
A visit to this workshop provides insight into the level of artistry that Bulgari has cultivated over the years. The Maison’s rapid ascent in the world of haute horlogerie is a testament to its commitment to innovation, craftsmanship, and creative expression.
Piaget Polo Flying Tourbillon Moonphase
The Piaget Polo collection continues its journey into haute horlogerie with the introduction of the Flying Tourbillon Moonphase. Crafted in titanium and presented in a striking blue and gray palette, this timepiece remains true to Piaget’s signature aesthetic—exceptional thinness, innovative materials, and understated elegance. Since its debut in 1979, the Polo has redefined the “sport chic” category, initially with a bold gold bracelet design. In recent years, it has embraced technical prowess with an openworked skeleton movement in 2021 and an ultra-thin perpetual calendar in 2023. Now, the collection reaches new heights, integrating a flying tourbillon with an astronomical moonphase display.
Following its success in the Altiplano Ultimate Concept Tourbillon, the flying tourbillon takes center stage once again within the Polo line. Piaget’s distinctive blue—a signature of the Maison—is at the heart of this model, from the case flanks and crown insert to the dial’s refined gadroons. This interplay of textures enhances the titanium case, which measures 44 mm in diameter and is both polished and satin-brushed. Despite its lightweight nature, titanium is highly durable and maintains its integrity when treated with PVD coloring.
Beneath its sleek design lies the hand-wound Caliber 642P, an ultra-thin movement measuring just 4 mm thick. A direct evolution of the acclaimed Caliber 600P, this movement integrates a flying tourbillon with Piaget’s signature stylized "P" tourbillon cage. The moonphase complication is seamlessly incorporated, adding only 0.5 mm to the movement’s thickness while maintaining precision of astronomical standards. Unlike traditional moonphase mechanisms, which require frequent adjustments, Piaget’s expertise ensures that this display remains accurate for 122 years before deviating by a single day. A corrector positioned at 9 o’clock allows for easy adjustments.
More than just a showcase of mechanical mastery, the Piaget Polo Flying Tourbillon Moonphase embodies the brand’s philosophy—subtle luxury, distinctive elegance, and an unparalleled dedication to craftsmanship. Its cushion-shaped dial contrasts harmoniously with the circular case, creating a refined aesthetic. From the intricacies of the movement visible through the sapphire caseback to the smooth integration of complications, this timepiece is designed to offer an exquisite balance of performance and wearability. Lightweight yet substantial, sophisticated yet effortless, it is a testament to Piaget’s enduring pursuit of horological excellence.
PROFILES
A Balanced Outlook on the Watchmaking Industry
Mario Peserico, Managing Director of Eberhard & Co., holds multiple key positions in the watch industry, giving him a comprehensive perspective on market trends. Beyond leading Eberhard & Co., he serves as CEO of Eberhard Italy, president of the CPHE (Permanent Committee of European Watchmaking), and president of Indicam, Italy’s anti-counterfeiting organization. His involvement extends to the Milan and Swiss Chambers of Commerce in Italy, as well as a previous role as president of Assorologi. These diverse roles allow him to assess the industry with both realism and optimism.
Peserico acknowledges that 2024 was a challenging year, though the downturn began in late 2023 when the watch market bubble started to deflate. One of the primary causes was aggressive price increases. “Price increases last year were often too steep and too frequent, typically occurring twice over the year. We first observed this in 2021 and 2022. These hikes came too early and were too high, especially given the rate of inflation and elevated energy prices.” Additionally, an overreliance on the Asian market played a role. The assumption that Asia would absorb any price was flawed, and the slowdown in that region inevitably impacted global sales.
While price adjustments are sometimes necessary, particularly with fluctuating gold prices, independent brands like Eberhard & Co. have more flexibility than publicly traded groups. “Listed groups must maintain their margins to satisfy shareholders. Independent brands have more flexibility,” Peserico explains. He emphasizes that companies must either raise prices or increase volume—but cannot do both simultaneously.
On the issue of counterfeiting, Peserico notes that rising prices for genuine watches do not necessarily drive more people toward fakes. “When the price of a Rolex, the most counterfeited brand, increases from €7,000 to €7,500, it’s completely irrelevant to someone who already intended to buy a fake.” However, he is concerned about the evolving counterfeit distribution networks, particularly on social media. While platforms like Alibaba, Amazon, and eBay were once primary channels, counterfeits are now being sold in ways that require new enforcement strategies.
Looking ahead to 2025, Eberhard & Co. is cautiously optimistic. “We’ve lost some ground in terms of value, but our average purchase price has increased by 11%. This is positive for us, as we are gradually moving out of the most competitive €1,500-3,000 segment towards the €2,500-4,000 range. Moreover, markets like the United States and the Middle East are showing renewed interest.” The upcoming Geneva watch shows will provide further insight into how the industry is evolving.
Hugo Lesizza: A Visionary at the Helm of Perrelet and L. Leroy
At the forefront of two historic watch brands, Perrelet and L. Leroy, Hugo Lesizza is a discreet yet determined leader. With Perrelet undergoing a major restructuring in 2019 and L. Leroy poised for a revival, his ambitions for both brands are clear.
For Perrelet, the goal is to build on its recent momentum. Over the past five years, the brand has collaborated with its sister company, Soprod, to develop high-precision movements with chronometer and Chronofiable certifications. Expanding the retailer network is also a priority, and by 2025, Perrelet aims to further enhance the Turbine collection while reintroducing a dedicated range of women’s watches.
With L. Leroy, Lesizza is determined to bring the brand back into the spotlight. The cancellation of Only Watch led to the return of a donated timepiece, which has since generated significant interest. This watch now serves as a showcase of the brand’s expertise and heritage. More details about L. Leroy’s future will be revealed at Geneva Watch Days this summer.
Beyond the world of horology, Lesizza has a deep appreciation for rugby league, a sport he played in his youth. His interests extend to literature—he enjoys detective fiction by Harlan Coben—and cinema, with The Shawshank Redemption ranking among his favorites. His music taste is diverse, shaped by his extensive travels, which also fuel his passion for photography. Recently, he returned from a photo safari in Kenya, having transitioned from film to digital photography with high-quality equipment.
His roots remain strong, especially when it comes to cuisine. Hailing from Carcassonne, he can never resist a traditional cassoulet. If given the chance to travel anywhere instantly, Latin America, particularly Colombia, would be his destination of choice, a place he admires for its rich landscapes and welcoming people.
When it comes to watches, he currently wears a Perrelet Lab Peripheral, a refined model featuring a distinctive peripheral rotor. Among independent brands, he has a particular admiration for Laurent Ferrier, appreciating its timeless elegance.
Despite his demanding schedule, Lesizza values time with family and friends. If given an extra hour in the day, he would dedicate it to them. And as for essentials beyond watches? A phone, a pen, and a notebook—indispensable tools for someone constantly engaging with people across different cultures and industries.
WATCH KNOWLEDGE
The Cubitus: The Power of Form
Fifty years after the birth of the Nautilus, Patek Philippe introduces the Cubitus, a timepiece that is already making waves. This latest creation reinterprets the sport-chic aesthetic with a fresh geometric approach while maintaining the essence of its legendary predecessor.
The 1970s marked a turning point in watch design, ushering in a more audacious style. Audemars Piguet set the stage in 1972 with the Royal Oak, redefining the luxury sports watch category. In 1976, Patek Philippe followed suit with the Nautilus, a model that blended a unique cushion-shaped case with exceptional craftsmanship. The Nautilus quickly ascended to icon status and remains a highly sought-after timepiece to this day.
Now, Patek Philippe unveils the Cubitus, a watch designed to complement the legendary Nautilus while establishing its own identity. Its name, derived from the Latin word for "cube," hints at the transformation in case shape. The soft curves of the Nautilus are replaced by angular bevels, creating a striking yet familiar aesthetic. Thierry Stern, the brand’s president, has long envisioned a square timepiece in Patek Philippe’s contemporary lineup, and with the Cubitus, that vision has become reality.
Despite its bold design shift, the Cubitus retains key elements from its predecessor. The integrated metal bracelet and embossed horizontal pattern on the dial affirm its lineage. The collection debuts with three versions, each measuring 45 mm per side and powered by in-house automatic movements. Two models feature the calibre 26-330, known for its stop-seconds function and refined winding mechanism. The steel version boasts an olive green dial, while the two-tone steel and rose gold variant showcases a deep blue hue. The most sophisticated model, crafted in platinum, houses the 240 PS CI J LU calibre, a movement distinguished by six patent applications and an instantaneous large date, day, and moon phase display.
With prices starting at CHF 35,000, the Cubitus is poised to become a new favorite among watch collectors. Whether these models will remain accessible or turn into elusive collector’s pieces remains to be seen, but one thing is certain: this is only the beginning of the Cubitus family, with more variations and complications likely to follow.
A Return to Tradition: Naissance d'une Montre 3 Project
Launched in 2019 by Chronométrie Ferdinand Berthoud, the Naissance d'une Montre 3 project is now entering its final phase. This initiative, which prioritizes traditional craftsmanship over digital technology, will result in a series of 11 fusee-and-chain timepieces. The first watch in this collection is set to be unveiled in the second half of 2025.
While much of the project has already been revealed, one final element is now coming to light: the exterior components. In modern watchmaking, cases, bezels, lugs, crowns, and buckles are typically designed using computer-assisted methods and machined with numerically controlled tools. This ensures precision and consistency, maintaining incredibly tight tolerances. However, Naissance d'une Montre 3 takes a different path—entirely avoiding digital assistance and instead relying on manual craftsmanship and traditional machinery.
Creating these exterior elements by hand presents significant challenges. The case middle and bezel are curved, the lugs are applied separately, and both the crown and buckle feature intricate shapes inspired by Ferdinand Berthoud's historical designs. Achieving these complex forms using hand-operated tools requires exceptional skill and precision.
To meet these challenges, Chronométrie Ferdinand Berthoud collaborated with the Chopard group, integrating expertise from other fields. Techniques such as lost-wax casting, commonly used in jewelry making, were combined with traditional micromechanical methods like turning, milling, and tapping. This allowed the artisans to produce intricate shapes while maintaining the authenticity of the process.
Once the components reach their final form, finishing techniques take center stage. Craftsmen meticulously refine the raw parts, trimming and polishing them by hand. Lugs are welded before the final decorative touches, including engravings and hallmarks, are applied.
This project embodies a shared commitment to preserving watchmaking heritage. Nearly 70 artisans from Chopard and Ferdinand Berthoud contributed their expertise, ensuring that these time-honored techniques continue to thrive for future generations.
