Comments:
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
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
It's encouraging but I think this needs further thought because
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 observation: It is interesting to see that they have no issue in it being clear that all the parts are outsourced.
Velociphile
A separate observation: It is interesting to see that they have no issue in it being clear that all the parts are outsourced.
Velociphile
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.
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
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"
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 independent so far.
Now my respect has unfortunately changed, obviously not in a positive way
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 independent so far.
Now my respect has unfortunately changed, obviously not in a positive way
This is not news. The finishing is very intensive
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.
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
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...
... 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 anyone who will help me in better understanding what will be the future of a brand which I love, but I have to confess, I have some fear to invest in
Ciao
Luca
Thanks in advance to anyone who will help me in better understanding what will be the future of a brand which I love, but I have to confess, I have some fear to invest in
Ciao
Luca
No doubt that Laurent Ferrier is excellent watch but also it is a very small company
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 a reassurance or guarantee in anyway.
Best regards,
Baxter
There is no guarantee in life
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 nearly as much as the watch itself.
Buy 2 watches each time
One is used, the other one is kept for parts recovery 🤗🤗🤗🤗
Problem solved
Problem solved
Its a really good and valid discussion.
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 the blueprints is not a guarantee of course. But it must be a big help for a watch restorer. How much one is willing to spend on the restoration of a watch of course always depends on the value of the piece at the given time. I guess we can all think of past brands and pieces where we would be willing to spend (a lot) on a restoration and others where we would hesitate. In the case of LF? I believe it could easily be in the first category. The way I understand the movements and the production methods the apply fairly traditional methods. I can think of other brands that use very exotic materials, e.g. Richard Mille, that would make me very nervous.
Great points
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 and more new techniques in the aftermarket and repair industry.
Velociphile
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 and more new techniques in the aftermarket and repair industry.
Velociphile
Better than a poke in the eye
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 background in restoration viz. Daniel Roth and Speake-Marin. Young watchmakers will continue to become restorers.
At least Laurent Ferrier watches are more likely to find care in future than Philippe Dufour ones.
Regards,
MTF
Interesting
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
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
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 serviced by quality watchmakers all the time. I like her offer of a visit to the Manufacture 
Same problem for all the independents to be frank
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
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 watchmaker not an assembly line like the high volume houses.
Velociphile
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 watchmaker not an assembly line like the high volume houses.
Velociphile
Their plan have changed twice in the past....
... 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 used watch dealers was interested in the brand, if I may add - now they are more than willing to buy/ sell particularly the first two models (Gallet Tourbillon and Gallet Micro Rotor).
First "incident" was acquisition of Fabrique du Temp by LVMH - at that time, LF lost its future plans and that is why they did not introduce new movement for such a long time and instead they came out with the different case/color version with the same movements (three, to be exact) over and over again. And then-CEO, Olivier, was fired by the owner/ investor, who drove Le Mans with Mr. Laurent Ferrierr and won, and kept telling Mr. Ferrier to pursue independent way since when he was still working for PP. I felt something very, very wrong with the governance structure and got really uncomfortable with the brand so let my LF watches go. Owner is owner, the ultimate owner, but if he doesn't know much about watches, he should not, he should not have interfered with the business. I don't know whether that owner still has ownership interest in the brand, but as long as he does not change, I would not feel comfortable owning LF watch, while I DO love Mr. Ferrier very very much as he is a very friendly, likable gentleman.
So, they introduced new movement this year after very long time. They may have regained the grip of themselves, but IMHO, I would be still in "wait and see" mode.
Just my 2 yen.
Ken
I wouldn't worry because the level of watchmaking is among the best and life is short just enjoy it, that "salmony" dial is the sexiest around [nt]
No message body
This is the risk we all take...
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 there is longevity in their operations (again this is because I feel it’s intrinsic value is high).
Also from a practical standpoint, what is the ratio of independents versus non-independents in your collection ? Assuming our collections are skewed to the latter, than that in itself is a natural hedge to the risk of buying an independent watch.
Ultimately, we should all enjoy the watches !
Great thread btw, enjoyed reading the post and all the replies.
Also from a practical standpoint, what is the ratio of independents versus non-independents in your collection ? Assuming our collections are skewed to the latter, than that in itself is a natural hedge to the risk of buying an independent watch.
Ultimately, we should all enjoy the watches !
Great thread btw, enjoyed reading the post and all the replies.