Bradley Cooper to Wear Unique IWC Watch at Oscars Being Auctioned for Charity by Sotheby’s

Bradley Cooper in an IWC advertisement. Photo credit: IWC

IWC Ambassador Bradley Cooper will wear a unique IWC Big Pilot’s Watch to the Oscars ceremony on Sunday with a special engraving. The watch is being offered by Sotheby’s in an exclusive online auction with all proceeds going to benefit the Antoine de Saint-Exupéry Youth Foundation. Bidding opened $16,000 Friday and will run till March 4. 

A personal letter from Cooper to the new owner will accompany the watch. IWC is donating all proceeds from the sale to the Antoine de Saint-Exupéry Youth Foundation with all funds going to "Arrimage," a charitable organization that focuses on teaching visually impaired children how to read drawings using their sense of touch.

Big Pilot’s Watch single piece with a special engraving (Ref. IW500923), Bidding for the watch will open at $16,000. Photo courtesy of Sotheby’s and IWC

The IWC watch Cooper will be wearing at The Oscars is a Big Pilot’s Watch single piece with a special engraving (Ref. IW500923). The timepiece features a midnight blue dial and is housed in a case made of 18k 5N gold. It is powered by the IWC-manufactured 51111-caliber movement. On the caseback there is an engraving of an iconic quote from Antoine de Saint-Exupéry‘s The Little Prince: “It is only with the heart that one can see rightly."

A triple Oscar-nominee in 2019, Cooper co-wrote, directed, produced and starred in A Star is Born. The film has received eight Oscar nominations: “Best Actor in a Leading Role,” “Best Actress in a Leading Role.” “Best Picture,” “Best Adapted Screenplay,” “Best Actor in a Supporting Role,” “Best Original Song,” “Best Cinematography” and “Best Sound Mixing.” He previously earned Oscar nominations for his performances in Silver Linings Playbook, American Hustle and American Sniper. Bradley Cooper became a brand ambassador for IWC in 2018. 

The unique IWC Pilot's Watch with special engraving: “It is only with the heart that one can see rightly." Courtesy of Sotheby’s and IWC

“The support of disabled children and adolescents is one of the cornerstones of our CSR effort,” said Christoph Grainger-Herr, CEO of IWC Schaffhausen. 

“IWC Schaffhausen’s master watch-makers have produced a complex and beautifully crafted symbol of Antoine de Saint-Exupéry’s pioneering spirit. After witnessing dreams come true on the stage of the Oscars this Sunday, it will be a privilege for us to offer this one-of-a-kind watch in our upcoming sale and to support the important work of the foundation,” added Mikael Wallhagen, head of the Watch Division for Sotheby’s in Geneva.

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Richemont’s Half-Year Sales Up 29%, led by Asian Demand and Jewelry and Watch Sales

Luxury goods conglomerate, Cie. Financiere Richemont SA, said Friday that sales for the six-month period, ended September 30, increased by 29 percent to 4.2 billion euros ($4.68 billion), year-over-year. At constant exchange rates (stripping out the effects of currency exchange rates), the increase was 36 percent.

The Swiss company reported solid growth across all segments, regions and channels. Operating profit increased by 41 percent to 1 07 billion euros ($1.2 billion). Net income for the period increased by 10 percent to 709 million euros ($791.3), reflecting the impact of a one-time gain in the comparative period.

Richemont owns several leading luxury goods companies, which it calls Maisons, with particular strengths in jewelry, luxury watches and writing instruments. These companies include Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Panerai and Montblanc.

“Our Maisons were able to benefit from a favorable trading environment to enhance their positions in jewelry, watchmaking and accessories,” said Johann Rupert, Richemont, executive chairman and CEO. “The rate of increase in net profit was lower than the increase in operating profit primarily due to a one-off gain in the comparable period.”

Rupert also noted that the group’s net cash position is 2.6 billion euros ($2.9 billion) and that sales in month of October, not included in the report, increased 28 percent, year-over-year. Sales were strengthened by the group’s own retail network bolstered by very strong demand in the Asia-Pacific and Americas regions.

Although gross profit rose by 26 percent, gross margin percentage was 160 basis points lower at 63.2 percent of sales, due to adverse currency movements affecting sales, the strengthening of the Swiss franc and, as expected, the impact of Net-a-Porter, the online luxury goods retailer. The company’s brands raised prices in order to offset the strength of the Swiss franc during the period. The stronger Swiss franc is of particular importance to the cost of sales as the majority of the Group’s manufacturing facilities are located in Switzerland.

Compared with the group’s other brands, Net-a-Porter’s gross margin percentage is well below the average reflecting its distinct business model as an online retailer, Richemont said. Given its above-average sales growth, Net-a-Porter has a dilutive impact on the Group’s gross margin percentage.
 
Earnings per share increased by 11 percent for the period.
 
Double-digit organic growth was registered across all regions, including Russia and the Middle East. Travelers to Europe continue to be an important sales driver. All brands improved their performance in the region versus the comparative period.

Sales to the Asia-Pacific region increased 48 percent (60 percent at constant exchange rates) to 1.7 billion euros ($1.9 billion), led by China, which is now the company’s third strongest market, after Hong Kong and the U.S.

In Europe, sales increased 20 percent (22 percent at constant exchange rates) to 1.5 billion euros ($1.67).

Sales in the Americas grew by 23 percent (35 percent at constant exchange rates) to 602 million euros ($671.7), driven by significant High Jewelry sales, although business in general has been very encouraging, the company said.

Sales in Japan increased 9 percent (8 percent at constant exchange rates) to 380 million euros ($424 million), despite the dramatic events of last March. Van Cleef and Arpels and watches performed particularly well.
 
Directly operated boutiques and Net-a-Porter sales increased by 37 percent. This was well above the growth in wholesale sales and Richemont now generates 49 percent of its sales through its own retail network.

The growth in retail sales partly reflected the good performance of Net-a-Porter and the expansion of the Maisons’ network of boutiques to 919 stores. Openings during the period were primarily in high-growth markets such as China.
 
Jewelry sales grew by 34 percent to 2.16 billion euros ($2.4 billion). “Both Van Cleef & Arpels and Cartier performed exceptionally well,” Richemont said.

Watch sales increased 30 percent to 1.17 billion euros ($1.3 billion).  “All watch brands performed well worldwide, reflecting the strong demand for haute horlogerie,” Richemont said. “Despite higher input costs and the strength of the Swiss Franc, the contribution margin was 27 percent, reflecting the brand’s pricing power and operating leverage.”
 
Montblanc reported strong growth with a 10 percent increase to 334 million euros ($372.6 million), reflecting good demand for its range of watches and accessories particularly in the Asia-Pacific region.
 
Richemont’s fashion and accessories brands saw double-digit sales growth and more than tripled its profits to 23 million euros ($25.6 million). Alfred Dunhill and Chloé performed particularly well.
 
Net-a-Porter incurred losses during the period amounting to 22 million euros ($24.5 million), resulting from the amortization of intangibles and the costs associated with the continued expansion of its platforms in the U.K. and the U.S

Richemont Reports Record Jewelry and Watch Sales

Cie. Financiere Richemont SA reported Thursday that sales for its fiscal year increased 33 percent to nearly 6.9 billion euros ($9.84 billion). Operating profit for the year, ended March 31, increased 63 percent to 1.35 billion euros. ($1.92 billion).

The Geneva-based luxury goods company reported strong sales across all segments and regions. Among the big winners for the year were jewelry and watch sales.

Richemont’s jewelry “masions,” Cartier and Van Cleef & Arpels, reported a 29 percent increase in sales to a record 3.48 billion euros ($4.9 billion), based on broad-based popularity in terms of geography and product lines. Brand owned boutiques did particularly well.

Its watch properties ( Vacheron Constantin, Baume & Mercier, Jaeger-LeCoultre, Lange & Söhne, Officine Panerai, IWC, Piaget, and Roger Dubuis), reported a 31 percent sales increase for the year to a record 1.77 billion euros ($2.52 billion), with all specialist watchmakers performing well, with the expected exception of, Baume & Mercier, which is undergoing restructuring. Operating margin increased to 21.4 percent of sales, in spite of higher costs of sales due to the appreciation of the Swiss franc and higher precious material prices.
(sales by region, outlook and CEO quotes after jump)

Richemont 3Q Jewelry Sales Up 20% and Watch Sales Up 21%

Cie. Financiere Richemont SA said Monday that third-quarter revenue rose 33 percent to 2.1 billion euro ($2.8 billion), led by the acquisition of online fashion retailer Net-a-Porter.com. At constant exchange rates (when currency shifts are removed) revenue grew 23 percent.

By category, the Swiss company’s jewelry business (made up of Cartier, Van Cleef & Arpels), increased by 20 percent at constant exchange rates (30 percent actual exchange rates) to just over 1 billion Euros ($1.45 billion). Watch sales for the period ended December 31, increased 21 percent (30 percent at actual exchange rates) to 543 million Euros ($720 million). The watch business is made up of the following brands: Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis.

By far the largest increase to company’s business is in its “Other” category (up 63 percent), which reflects the purchase last year of luxury e-commerce website, Net-a-Porter.

“Richemont’s Maisons performed well and saw good sales growth, particularly at the retail level, during the three-month period,” said Johann Rupert. Richemont executive chairman and Group CEO. “Sales in the month of December grew by 17 percent at constant exchange rates and excluding the impact of the Net-a-Porter acquisition.”

He added, “Higher comparative figures will make the final quarter of the financial year ending 31 March 2011 more challenging Gross margin is anticipated to be negatively affected by a stronger Swiss franc given the Group's Swiss manufacturing base and by the planned changes to product lines at one of the Group's Specialist Watchmakers, which will be largely implemented during the coming quarter.”

In addition to the companies listed, Richemont owns Montblanc, which makes writing instruments, Purdey, the luxury hunting gun maker, and Alfred Dunhill, the London-based maker of leather goods, fashion and lighters, as well as a watch and jewelry joint venture with Ralph Lauren.

Richemont Jewelry Sales Up 32%, Watches Up 40%; U.S. Sales Up 52%

Richemont headquarters

Swiss luxury goods group Compagnie Financiere Richemont SA said Wednesday that sales for the five-month period, ended August 31, increased 37 percent in actual exchange rates, over the same period a year ago. All segments of the company and all regions saw strong growth, which reflects in part, low comparative figures reported in the prior-year period and recent acquisitions.

Richemont released its financial results for the period before its annual general meeting Wednesday, held at its headquarters in Geneva.

The company saw double-digit growth in all its brands, which it calls “Maisons.” Watch sales—which include Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis—reported a year-over-year 40 percent increase at actual exchange rates. When currency fluctuations are included the growth is 30 percent. Jewelry sales—which include Cartier and Van Cleef & Arpels—rose 32 percent at actual exchange rates and 21 percent at constant exchange rates.

Its writing instrument brand, Maison Montblanc, grew 28 percent at actual exchange rates and 20 percent at constant exchange rates. Meanwhile, its division listed as “Other,”—which include Alfred Dunhill, Lancel, NET-A-PORTER and Chloé—saw an increase of 62 percent in actual exchange rates (51 percent constant). This is at least partly due to the company’s recent acquisition of the shopping Web site, NET-A-PORTER.

By region, the Americas saw a 52 percent increase (38 percent actual), largely because of very weak comparative figures for the prior fiscal year.

The Asia-Pacific region, which includes the Middle East (51 percent constant, 36 percent actual), is the company’s most important region accounting for 41 percent of overall sales. In Europe, the sales increase of 27 percent at constant exchange rates and 23 percent in actual rates, fall to 15 percent at constant rates when new business is excluded from the figure. Meanwhile, results in Japan, (22 percent constant, 4 percent actual) were boosted due to favorable exchange rates.

In total, its retail division grew 47 percent (34 percent constant). Excluding the acquisition of NET-A-PORTER, retail sales increased by 24 percent at constant exchange rates.

Its wholesale business, which suffered in particular during the comparative period due to de-stocking by business partners in some markets, saw an increase of 30 percent (21 percent constant) for the period.

“The improved trading environment is certainly welcomed. However, it is far too soon to draw any conclusions about the sustainability of the economic recovery or whether the recession is truly behind us,” said Johann Rupert, Richemont executive chairman and CEO. “This time last year we were still seeing falling sales. This year, with double digit sales growth already in hand, Richemont will report significantly higher first half profit. However, the rest of the year is less straightforward. In the second half of last year, we saw some recovery in sales, setting higher comparative figures against which sales in the six months from October to March will be measured. Relative to the present conditions, those comparative figures were achieved with a weaker euro against the dollar and yen. Compared to the second half of last year, the current strength of the Swiss franc will be negative for the cost of sales.”

In addition to the brand’s mentioned, Richemont’s portfolio includes a Ralph Lauren Watch and Jewelry joint venture and other smaller Maisons and watch component manufacturing activities for third parties.