MONDAINE BUYS LUMINOX SHARES
FHH DEFINES FINE WATCHMAKING
DIALED IN Horological News
MONDAINE BUYS LUMINOX SHARES
THE OWNERS OF THE SWISS WATCH MANUFACTURER MONDAINE WATCH LTD. have reached an agreement with Barry Cohen to purchase his shares in Luminox, including its American distribution company. No sale figures were released. Mondaine owners Andre and Ronnie Bernheim first bought a fifty percent share of the business from Cohen’ s former partner in 2006 and now own the Luminox companies and brand in their entirety.
“ I founded Luminox in order to introduce self-powered illuminated watches to consumers,” says Cohen, who created Luminox in 1989.“ I take great pride in having achieved something rarely accomplished, producing truly innovative Swiss-made watches which are globally distributed and recognized as the best in class. I wish both Andre and Ronnie great success in taking Luminox forward.” Cohen will focus on his own brand Szanto as well as working with café-racer-themed watch brand CT Scuderia.
FHH DEFINES FINE WATCHMAKING
WHAT IS FINE WATCHMAKING? The Fondation de la Haute Horlogerie and teams of industry experts set out to answer this complex question three years ago. In April it released its first set of answers to that question in an FHH White Paper on Fine Watchmaking, which includes a list of watch brands that qualify – for now – to be placed within the FHH Fine Watchmaking Perimeter. Evaluations will be made every two or three years.
The FHH divided the manufacturers into four distinct segments: Historic Maisons, Contemporary Brands, Luxury Brands and Artisans-Creators. Of course, not all the evaluation criteria apply to each of these segments. Brands are evaluated according to a two-tier process: an objective review in each area of expertise, and a global appreciation of the brand by FHH members. This evaluation draws on the experts’ knowledge and perception of the brand, as well as information supplied by the brands( on a voluntary basis).
Experts review the criteria( only those relevant to their area of expertise) and then awarded a score from 1 to 10. They reviewed these seven areas of expertise:
1 – Research & Development, production and technical expertise 2- Style, design and artistic expertise 3- History and DNA 4- Distribution and after-sales service 5- Connoisseurs and collectors 6- Brand image and communication 7- Training
The final scores combine objective evaluation and the subjective global appreciation by the Cultural Council members, split 65 %- 35 %. The areas of expertise are weighted differently according to the segments.
For details about the procedures behind this White Paper and to see which companies made the first list as Fine Watchmakers, see www. hautehorlogerie. org.
26 | INTERNATIONAL WATCH | SUMMER 2017 iWMAGAZINE. COM