On this week’s episode, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates delve into the launch of Patek Philippe’s Cubitus collection. Is it hip to be square? Critics say no, but Victoria shares insight into the revered brand’s vision for its new timepieces. Next, Rob explains the philosophy behind a moving new ad campaign by De Beers and Signet for natural diamonds. Forget “You complete me”; today the message is, Become your best self, then find someone special. Finally, Victoria reports on a visit to Roberto Coin in Vicenza, Italy, replete with kilos of gold and a masquerade ball.

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Sponsored by Tracr: tracr.com

Episode Credits
Hosts: Rob Bates and Victoria Gomelsky
Producer and engineer: Natalie Chomet
Editor: Riley McCaskill

Show Notes
00:53 Victoria heads to Geneva for “watch world’s Oscars”
02:45 Inside Patek Philippe’s Cubitus launch
13:43 De Beers and Signet partner on innovative ad campaign
19:20 A visit to Roberto Coin in Italy

Show Recap
Victoria heads to Geneva for “watch world’s Oscars”
Victoria tells listeners she’s soon going to Switzerland to serve as a member of the jury for the Grand Prix d’Horlogerie de Genève, the prestigious awards often called the Oscars of the watch world. Vic will be one of about 20 key players from the industry who will select this year’s winning timepieces; the ceremony will take place Nov. 13.

Inside Patek Philippe’s Cubitus launch
Victoria’s fall travels have also taken her to Munich, for the Oct. 17 launch of Patek Philippe’s Cubitus collection, a major event for a brand that’s on top of the watchmaking pyramid. The Cubitus is the first new family of watches Patek Philippe has introduced since its Twenty~4 women’s collection in 1999.

To introduce Cubitus, the company invited around 600 guests to a giant industrial space on the outskirts of Munich. Victoria’s first clue that this would be a departure from Patek Philippe’s typically small, elegant events was a note in her invitation about the casual dress code: no suits, no ties. The audience in Munich also pointed to a new demographic the brand hopes to reach with the new collection—male buyers under 40. Victoria says the target customer is one who likely knows and admires the brand, but found the Nautilus out of reach.

What makes the Cubitus unexpected is its square shape with rounded corners and its large size, Victoria says. At 45 mm, it bucks the trend toward smaller case sizes. The design has drawn criticism for its similarity to the Nautilus. However, Patek president Thierry Stern “was explicit that he was drawing on the DNA of the brand when he designed it,” says Victoria. “He consciously referenced the Nautilus.”

Victoria predicts the collection will succeed despite its critics because of the brand’s reputation, but she and Rob agree that the $40,000 opening price point may be an obstacle. It’s extraordinarily expensive, particularly for younger consumers. “That’s the price of a car,” Rob states.

Regardless of objections to the Cubitus’ design and cost, “what’s exciting and interesting to me is that people really care about the brand and are passionate about it,” says Rob. The new collection stirred people’s emotions and that’s great to see, in his opinion.

De Beers and Signet partner on innovative ad campaign
Rob brings listeners up to date on a new campaign from De Beers and Signet promoting natural diamonds. A departure from past advertising, the messaging links people’s journey to love with the time it takes for diamonds to form. “I found it really moving,” says Rob. “I got a little verklempt.”

The ads embrace the idea among younger customers that they don’t expect a partner to complete them, Rob explains. “The thought behind this campaign was that people do the work on themselves and then meet somebody,” he says. “Meeting the person is not the basis of your identity.” It’s a subtle but significant shift, he points out.

Victoria was struck by the wide variety of actors featured and the images of people struggling and facing setbacks mixed with those celebrating and happy. “I’m always proud of the industry for putting out messaging that feels real and moving and poignant,” she says.

She notes that the ad begins with the words “A natural diamond is…” Viewers expect to hear the familiar “forever,” but instead the phrase that follows is “worth the wait.”

“It’s meant to echo the wait individuals go through as they look for their perfect partner,” she says. “The time it takes to find your perfect partner and the time it takes to create a natural diamond are all worthwhile.”

Rob is intrigued by the potential challenges of the basic ad proposition. The companies are not simply selling diamonds as a product. “They’re selling natural diamonds,” he points out. “They have to subtly make that case: We don’t want you to just buy diamonds; we want you to buy this particular kind of diamonds. I think that’s harder than what they’ve done in the past.”

A visit to Roberto Coin in Italy
Victoria reports on her recent trip to Venice to attend a press event by Roberto Coin, the famous Italian jeweler based in nearby Vicenza. In addition to taking a factory tour and holding a $90,000 kilo of gold, she attended a lavish traditional masquerade ball that Coin held in a palazzo on Venice’s Grand Canal for his visitors.

The trip was organized to dispel rumors that the brand had been acquired. That confusion stemmed from the announcement in May that Watches of Switzerland had obtained the rights to U.S. distribution from Peter Webster, a longtime friend of Coin.

While Watches of Switzerland has been on a buying spree—acquiring jewelers, retailers, and media companies at a rapid clip—“Roberto Coin the brand is very much alive and well, and this event showed that,” Victoria reports.

Rob wonders about succession plans for the Italian brand. With Roberto’s three sons actively involved in running the company and two of them on hand during her press trip, Victoria says it seems clear that family members will take the reins whenever Roberto decides the time is right.

Any views expressed in this podcast do not reflect the opinion of JCK, its management, or its advertisers.

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