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Independents

Laurent Ferrier in the Long Term

 




Following on from this thread:
www.watchprosite.com 7/

I contacted Laurent Ferrier SA and asked them what, "long term plans existed in your company in the sad event that you could not continue the business in its current form."  Today, I received the following reply within one week from the CEO herself.  (Personal info redacted from the comms).

Velociphile



Dear Sir,

Many thanks for your interest in Laurent Ferrier.

I can understand your concern about service on the long term. Let me just explain how we work at Laurent Ferrier.

All our movements are designed in house exclusively for us. Every single component blueprint is made in-house and sent to the best suppliers who make the parts for us with our standard of quality. 

So whoever needs to repair a LF timepiece can get access to the original suppliers in the unlikely event the company is out of business.

Moreover, a very good watchmaker can study our escapement and understands how it works. So there is no assembly problem.

For the near future, we also think about training some watchmakers in selected service centers around the world so that we can ensure a long-term service capability. These watchmakers will be authorized to carry an inventory of key spare parts.

I hope I answered your question. Please let me know if I can be of further assistance.

If you or/and your fellow collectors are interested in a visit in Geneva, you are most welcome. If you don’t travel to Geneva, I can also make it to your area and introduce you our latest pieces.

Please keep me posted.

All the best,

 

Vanessa Monestel



LAURENT FERRIER SA

150 ROUTE DE SAINT JULIEN

CH-1228 PLAN LES OUATES / GENEVE                                                                        



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26 Comments view entire thread 

It's encouraging but I think this needs further thought because

 
By: Velociphile - No longer in the building : February 8th, 2018-09:40
it will rely that in the event of a liquidation that the component designs are saved, in a structured way, and then on the availability of the information to turn into actual parts and on what basis and price by what route to the end user. A separate obse... 

Transparence on that matter of outsourced parts, which is a good point. Now, your questions are the same than the one I have, and not only for Laurent Ferrier, of course.

 
By: amanico : February 8th, 2018-10:24
BUT also for all small watch companies, Independents, mostly... If I didn't have these questions in mind, it would have been a relatively long time I'd own a Laurent Ferrier, or a Kari Voutilainen. Best, Nicolas

What does it mean "..... the best suppliers who make the parts for us with our standard of quality"

 
By: piccolochimico (aka dsgalaxy1) : February 9th, 2018-04:47
Is L. Ferrier just an assembler? Did those suppliers make the finishing? I guess these questions are very interesting and the answers could be a bit shocking. I'll be honest, i can't afford it but i've always considered Ferrier one of the most appealing i... 

This is not news. The finishing is very intensive

 
By: Velociphile - No longer in the building : February 9th, 2018-05:06
And I understand in house. Personally I don’t have a problem with this. It’s a realistic approach and not disguised unlike some others we could shame. It also keeps the cost down.

I thought having your own CNC machines would have been a cost reducing strategy

 
By: piccolochimico (aka dsgalaxy1) : February 9th, 2018-05:36
Swiss made is such a misty definition; no one really knows what IN HOUSE means. They produce 100 watches/year, but the prices are higher than Journe, with less complications. Still a great watchmaker, but no longer at the top (at least for me).

Dear Amanico and dear all...

 
By: mywrongwrist : February 12th, 2018-14:02
... what is your opinion about the new De Bethune? Do the new shareholders provide more reassurance about a wonderful independent brand which had some financial difficulties in the near past (or at least this is what I perceived)? Thanks in advance to any... 

No doubt that Laurent Ferrier is excellent watch but also it is a very small company

 
By: Watchlover78 : February 8th, 2018-09:37
And most of the time, succession of business is more at risk in smaller company, I believe the CEO has tried her best to explain even the company is out of business there would be some watchmakers able to repair and service it watches. However, it is not ... 

There is no guarantee in life

 
By: Poky : February 8th, 2018-10:35
Even the big brands may go under or change their practice significantly which can affect the future service. I remember many years ago owning a Brietling the service charge for which was insignificant. The cost of the second service a few years later was ... 

Buy 2 watches each time

 
By: piccolochimico (aka dsgalaxy1) : February 8th, 2018-09:48
One is used, the other one is kept for parts recovery 🤗🤗🤗🤗 Problem solved

Its a really good and valid discussion.

 
By: ChristianDK : February 8th, 2018-10:35
I think the CEO brings some reassurance. She mentions the blueprints for parts. Perhaps this could be something for AHCI to keep an archive of blueprints of the watches of their members if the brand, independent or suppliers disappears. Having access to t... 

Great points

 
By: Velociphile - No longer in the building : February 11th, 2018-13:08
I think the AHCI idea is realy good. There must be a way here whilst protecting IP in the right way etc. LF components are 'conventional' with the exception of the escape wheels and lever. I guess as time goes by it will be more 'conventional' to use more... 

Better than a poke in the eye

 
By: MTF : February 8th, 2018-17:06
velociphile, It's some reassurance tat they've thought about it. The movements are simple and made of traditional materials. Watch repairers/restorers have plied their trade for hundreds of years and those who float to the top in watchmaking have a backgr... 

Interesting

 
By: Velociphile - No longer in the building : February 11th, 2018-13:11
Hi MTF, The LF escape lever and wheels are somewhat 'special' though ? interested in why you say, "LF watches are more likely to find care in the future than Dufour ones" What makes you say that? What did I miss? Velociphile

I think it's worth the leap of faith

 
By: emcquillan : February 8th, 2018-17:48
LF is on my radar. So excquite. Thanks for sharing the letter. I think she answered the question as honestly as possible given what is known today. Nothing is for certain in the future even with the larger brands and collectors have their vintage pieces s... 

Same problem for all the independents to be frank

 
By: Patekphilippecollector : February 8th, 2018-19:54
What I found interesting is the parts are not made in-house...basically just assembledcat LF unless I read that wrong

designed, developed, finished and assembled in house

 
By: Velociphile - No longer in the building : February 12th, 2018-07:38
as I understand yes. Procured from throughout the watch industry, to LF specification of performance and tolerance etc, but the laborious effort to finish the parts is made in-house with specialist. In addition, a key point is one watch is made by one wat... 

Their plan have changed twice in the past....

 
By: KIH : February 9th, 2018-08:18
... unfortunately. I DID love LF watches (love at the first sight), in fact I used own them. Their long term strategy made sense, the movement maker was super top notch, so much so that it made me confident about their future - back then, none of those us... 

This is the risk we all take...

 
By: Mr.Gatsby : March 3rd, 2018-21:19
if we buy independents. I don’t know what you guys are thinking, but I’m on to my second LF. The reason why I buy it is because I think the watch has very high intrinsic value. As with all businesses there are risks involved, but I am of the view that the...