According to the aforementioned agreements, Rolex SA has undertaken to guarantee that the industrial and commercial complex of Rolex Bienne remains located in Biel, at Rolex’s sites in Les Champs de Boujean, and that existing jobs will be preserved. Both industrial partners are convinced that the economic merger represents an important turning point, which will further strengthen Rolex’s position on the world market.

The company’s activities in North America are the responsibility of Carl F. Bucherer North America Inc, a joint venture formed for this purpose by Bucherer Montres SA and an American watchmaking partner. With its headquarters in Dayton (Ohio), the main task of this subsidiary is to set up a distribution network comprising around a hundred high-quality points of sale in the United States, Canada and the Caribbean. The corporate strategy will consist initially in becoming established on the Eastern seaboard and Texas only, then gradually on the West coast and in other States.

This venture into the American market marks an important stage in the development of Carl F. Bucherer, which has been building a global distribution network since 2001. After Russia in March, America is the second market to be opened this year. This expansion began with the top-priority markets of Switzerland and the Middle East. The company’s distribution in China and Taiwan, as well as in Germany and Austria, is assured by distribution branches located in Hong Kong and Munich respectively. In Thailand and the Middle East, the firm works with reputed local partners. Since 2003, Bucherer Montres SA has been an independent company within the Bucherer group. It employs more than 50 people worldwide.

The American market, the world’s number one importer of Swiss watches, will no doubt support the regular expansion of the Rodolphe brand, positioned in the luxury watch segment.

While practically all of the group’s business areas contributed to this excellent result, watches and jewellery were well out in front with sales 17% higher at 113 millions euros (organic growth: 30%). Next came wines and spirits with sales up 11% at 451 million and selective distribution (+2% at 756 million). The fashion and leather goods sector for its part remained stable with sales worth 1,067 million, while fragrances and cosmetics were 3% down at 473 million.

This very good start to the year, and a more favourable economic and monetary environment, enable the group to confirm its target of significant further operating result growth in 2004.

The Sebring 12 Hours, which marked the beginning of the 2004 season and is the oldest motor racing circuit in the United States, was held on 20 March this year. On this occasion, the winning teams in the four categories (GT, GTS, P1 and P2) received a numbered and personalised Grand TV Screen Chronoscope watch. The latter was of course dedicated to this new partnership.

As has been said before: the purchase of prestige watches on the Internet is not a good idea. Nor is this simply a reaction of defiance against new technology. A brief visit to the FH web site will probably serve to demonstrate that the Swiss watchmaking industry has not been slow to embrace the electronic promotion of "Swiss made" watches. Indeed, almost all FH members today have virtual shop windows. They invest considerable sums in the Internet to match the hopes generated by the medium everywhere. There is even one that has made "one to one" commerce the entire basis of its business.

Nevertheless, a "modus vivendi" very quickly became apparent in the world of timepieces in this respect. The Internet is not and never will be the most appropriate place to sell luxury watch products. A rapid survey of the most prestigious sites should be enough to convince anyone of this. Indeed, as soon as the home page is displayed, Internet users are warned in no uncertain terms that original products are sold exclusively by approved retailers and are under no circumstances available on the Internet.

What should we think then of the multitude of sites selling all models of all the leading Swiss manufacturers? A grey market? Free competition? Globalisation? Nonsense! One doesn’t need a diploma from Saint-Gall or an MBA to realise that such sites cannot be official, and that therefore the products offered cannot be authentic. A little common sense is all it takes to see that these watches have nothing in commmon with Switzerland, and that the price paid, even if it seems reasonable, is greatly inflated. But after all, there is no law against stupidity and there are many who let themselves get duped, either through ignorance or for fun.

"A fault confessed is half redressed" says popular wisdom. Must we believe then that wisdom is not the strongest suit of those who surf the web? Watches bought on the Internet are delivered through the postal system and are systematically inspected by the competent customs authorities when they enter Switzerland. All those in violation of rules governing trademarks, designs, indications of origin, or rules for the marking of precious metals, are quarantined. A notification is sent to the addressees, politely advising them to forfeit their right to the goods or face legal action on the part of the rights holder. Pathetic or ridiculous, the intended recipients – all upright citizens no doubt – plead ignorance or good faith, then invoke the Olympic deities and end up by insulting the civil servants, who are simply doing their job (and doing it well).

It is therefore well worth mentioning here a basic truth. Counterfeiters are not those who protect intellectual designs, but those who unscrupulously plagiarise designers… not to mention those who support the practice by buying counterfeit products. Even unbeknown to themselves!

From London, Madrid, Milan and Amsterdam, private jets from Europe’s largest cities hired specially for the occasion touched down on the illuminated tarmac of Le Bourget on 7 April to celebrate the 100th anniversary of the Santos watch, one of the first wristwatches produced by Louis Cartier for his extraordinary friend, the Brazilian aviator Alberto Santos-Dumont.

A luggage-free arrival for the personalities who emerged dressed in evening wear from their aircraft, after answering the invitation to spend an evening with Cartier from Bernard Fornas, CEO of Cartier International, accompanied in our photo by actor Jeremy Irons.

Phosphorescent beacons, airport markings, metal aircraft hangars… fiction or reality? Cartier cast a magical veil by transforming this transit area into an imaginary journey, during a dinner prepared for 600 privileged passengers by chef Reine Sammut, of l’Auberge La Fenière in Lourmarin, in the Luberon region of France.

The destination: an original voyage on a giant 360° screen, depicting the world of Cartier and the international metropolises that have marked its history. A journey of cities in images, from dusk to dawn but without jet lag, from Paris to New York, then to Tokyo, finally flying over the magnificent bay of Rio de Janeiro, prior to the appearance of the star of the evening, the Santos 100 watch by Cartier (see photo).

After taking on 1,000 additional passengers, this spellbinding flight came to an end under the gigantic wings of two Concordes, which, for the first and last time, marked the boundaries of a highly original dance floor that pulsated to the South American rhythms of the Trio Mocoto and the mixes of DJ Patrick Vidal.

Personalities in attendance included Jeremy Irons, Monica Bellucci, Miguel Bosé, Paulo Coehlo, Jean Reno, Benoît Magimel, Sophie Dahl, Alvaro de Marichalar, Sir Terence Conran, Lord Frederick Windsor, Marc Newson, Richard Berry, Bernard Giraudeau, Jacques Weber, Florian Zeller, Marine Delterme, José Garcia and Isabelle Doval, David Douillet, Laurent Blanc, Marcel Desailly, Abdel Benazzi, Christophe Dugarry, Yuri Djorkaeff et Stanislas Mehrar.

With a net profit of 492 million francs last year, the Swatch Group did almost as well as in 2002 (494 million), registering a decline of only 0.4%. The difference is however slightly greater in terms of operating profit: 594 million francs against 632 in 2002, or -6.0%. Turnover, the result for which was announced at the beginning of February, fell to 3,983 million francs, a decline of 2.0% compared to the 4,063 million posted in 2002.

On the basis of this overall result, the board of directors of the Biel based group decided at the general meeting of 27 May to propose an increase in the dividend of 31.8%, in other words to distribute 1.45 francs instead of 1.10 francs per bearer share and 0.29 franc instead of 0.22 franc per registered share. It also decided to resume the share buyback programme, the exact timing of which will be announced in the form of a stock market notification.

With regard to the group’s various sectors of activity, finished watches fared well, with operating profit showing a very slight increase (+0.2%), while the production of watches, movements and components recorded a marked downturn (-61.2%). Electronic systems for their part turned in a reasonable performance, showing a 12.3% increase in operating profit.

Last year, all of the group’s watch brands recorded increases in turnover and profit during the second half-year, a general improvement that the group attributes to the following strategy: stable prices, targeted investments, launch of new and innovative products, and a reinforced presence in certain regions, for example the Middle East.

In the light of the improvement recorded in the second half of 2003 and early results for 2004, the group is optimistic with regard to the current financial year, after three consecutive years of decline. Buoyed by the return of consumer confidence and the slow but sure recovery of the world economy, both sales and profits are set to climb.

A keen watch enthusiast, Boris Becker has now joined forces with IWC, a company he has long admired and with which he has much in common.

Georges Kern, General Manager of the firm from Schaffhouse, is delighted that this partnership has come about: "We are very proud to count among those closely involved with the company a personality as warm and friendly as Boris Becker. His love of mechanical watches, his cosmopolitanism and his charisma make him an ideal ambassador." IWC plans to launch various international projects in cooperation with Boris Becker.

The holder of six Grand Slam titles, Becker made his first official appearance as a representative of IWC on 20 April this year in Geneva at the Cousteau evening, an event organised as part of the International Luxury Watch Exhibition (SIHH). "I admire the visionary qualities, spirit and ambition shown by IWC in adopting new approaches to watchmaking. The work done by its engineers is remarkable and I’m delighted to be involved in this partnership," he said on this occasion.