Latest news with #OysterPerpetual
Economic Times
05-07-2025
- Business
- Economic Times
Babus & bestsellers: How bureaucrats strike gold with book deals and bulk buys
Whenever a writer somewhere gets a windfall, it makes me unhappy. Writing is a grim, thankless profession, and one can do without the added aggravation of witnessing one's colleague suddenly not worrying about counting one's rotis for a few months. A couple of years ago, when a friend won a major purse at a literary prize, I wrote to her confessing that all through the day, the lines from Shahryar's immortal ode to indigestion, 'Seene me jalan/ A burning in the heart,' were playing on loop in my ears. Thus ended one more beautiful friendship. When the news broke that Union Bank of India (UBI) had purchased 2 lakh copies of Krishnamurthy Subramanian's India@100: Envisioning Tomorrow's Economic Powerhouse, a paean to economic successes of the Modi years, I was envious. As a former chief economic advisor, Subramanian had a ringside view of all economic activities, and had chutzpah to cash it in. The book is priced at ₹595 for a paperback, and ₹995 for a hardback. If we go by the standard 10% royalty, Subramanian would have made ₹60 lakh. My publishing nose tells me that in such 'sweetheart' deals, a sliding royalty scale of 25% to 30% is applicable. So, the actual share could be close to ₹2 cr. The publishing house earns much, much more. Publishing is a wake-up call for most young writers: 95% of books submitted to 'reputed' publishing companies get rejected. In Indian English trade publishing, there are about 10 houses. To this mix, you can add about five more university and academic presses. Their standards are rigorous, and after 3-4 stages of vetting, a book is published. But even in these blue-chip companies, when a serving senior bureaucrat walks in, the chief editor's eyes start glittering with avarice. Provided the manuscript is half-decent, the firm will quickly draw up a contract. Now, this deal can be structured in several ways - all perfectly legal. ∙ Co-pub In such deals, a civil servant ropes in a government institution to co-publish the book. The institution agrees to bear 50% of the cost. The publisher then inflates the estimate. The total cost is pegged at ₹15 lakh for 2,000 hardback copies. The institution pays ₹7.5 lakh and receives 1,000 copies. The publisher, having made a profit, makes little effort to sell the remaining copies. There's no royalty in such deals. What the author gains is the prestige of being published. The books are often distributed free to national and university libraries, polishing his CV and boosting his profile. The institution, or its chairman, secures a powerful ally, while the publisher laughs all the way to the bank with the (taxpayer's) money. ∙ Buy-back In such cases, the 'scholar-bureaucrat' is tasked by the publisher with securing a buyer for 5,000 copies at 40% discount. The author earns the standard 10% royalty - enough to fund an Oyster Perpetual. It's the bureaucratic equivalent of a 1970s benefit match for a retiring Test cricketer. If he's a serial anthologiser, he might add a Jaeger-LeCoultre Reverso, a Breitling Navitimer, and even a TAG Heuer Monaco. A prolific anthologist with literary leanings is worth his weight in gold to a publisher. The truly karmath ones churn out 2-3 such volumes a year and charms government and embassy libraries - via XP division - into stocking copies. It helps that most middle-class Indians remain unaware of conflict-of-interest concerns. ∙ Sweetheart deals The author is so well-connected that he cobbles together a cartel of institutional and corporate buyers. The print run is 10,000-20,000 copies, and royalty rate is 25-30% of MRP. The author takes the retailer's share, as he has 'executive-produced' the deal. The Subramanian-publisher-UBI deal seems like an uber spinoff of the sweetheart deal kind. It should be called 'masterstroke deal'. The problem with all such 'masterstrokes,' though, is that they get called out. Subramanian found that out soon -- when GoI cancelled his IMF posting much before his tenure ended. (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Zepto has slowed, and Aadit Palicha needs more than a big fund raise to fix it Drones have become a winning strategy in war; can they be in investing? How the sinking of MSC Elsa 3 exposed India's maritime blind spots Ozempic, Wegovy, Mounjaro: Are GLP-1 drugs weight loss wonders or health gamble? Darkness at noon: Can this reform succeed after failing four times? Stock picks of the week: 5 stocks with consistent score improvement and return potential of more than 29% in 1 year Stock Radar: Nippon Life stock gives a breakout from Cup pattern in June; check target & stop loss for long positions From takeovers to a makeover: Are cement stocks ready for re-rating? 8 cement stocks with upside potential from 6 to 42%
CNN
04-04-2025
- Entertainment
- CNN
Amid a '70s design revival, colorful hard-stone watch dials make a comeback
Even by the standards of watch boxes — typically oversized for the objects they hold — Chopard's latest leather case, unveiled at watch fair Watches and Wonders, is strikingly large. But the grandeur is justified. Open it, and it reveals not one, but twelve L'Heure du Diamant watches, arranged like precious petals. Each piece features the same diamond-studded bezel, framing twelve different dials crafted from thin, round slices of hard-stones including apple-green jade, cobalt blue agate, cinnamon brown tiger's eye, white mother-of-pearl, pink opal, onyx, carnelian, and more. The result is an elegant, unmistakably feminine collection with just the right dose of color and sparkle. 'My father, Karl Scheufele, introduced exquisite goldsmithing techniques that enabled the use of hard-stone dials when he took over Chopard in 1963,' explained Caroline Scheufele, Chopard's co-president and creative director, over a phone call. 'By the late 1960s, Chopard was already creating bold, colorful timepieces with these beautiful stones. Reviving them now is our way of celebrating that joyful creativity — while staying true to our heritage.' Chopard's latest creation may be the most eloquent example yet and perhaps the peak of the hard-stone dial craze that has been sweeping the world of luxury watches over the past couple of years. It's evident at Rolex, which reimagined its beloved Oyster Perpetual Day-Date 36 in uplifting tones of apricot carnelian, sky-blue turquoise and shimmering green aventurine. The watchmaker also updated its iconic Oyster Perpetual collection with a 28mm style, debuting in lavender and a matte finish, a first for the brand. Gucci gave its avant-garde, hands-free Grip timepiece a bold new look in sandstone-hued jasper, while Dior's Grand Bal Histoire Naturelle features sodalite, aventurine and aragonite. Chanel ventured into the cosmos to fetch meteorite for one of its elegant Monsieur watches. Elsewhere, Cartier's elongated oval-shaped Baignoire watch has a mesmerizing, hypnotic dial featuring an irregular mosaic of mother-of-pearl, turquoise, and onyx stones. This year, Piaget is also making a colorful splash with hard-stone dials. In one model from the Hidden Treasures collection, a green-hued opal dial peeks out from an intricately engraved white gold cuff, its outer frame rimmed with delicate emeralds. In another piece, a lavish sautoir with a rope-like chain is adorned with a 17-carat pink tourmaline and a white opal of over 12 carats, and holds a dial made of fiery red ruby root — the raw base material to which rubies are attached. The dial's vivid color is echoed by ruby root beads in juicy cerise and raspberry tones, interspersed throughout the chain. One might associate such colorful hard-stones with ladies' watches, which have historically featured softer colors or delicate details, but they're popular in men's timepieces, too. Piaget recently reimagined its iconic Andy Warhol watch in four striking variations, each featuring a different ornamental stone: blue opal veined with iridescent green, warm brown tiger's eye, vivid green meteorite, and silvery meteorite. 'The distinctive shape of this case offers an ideal canvas for showcasing exceptional slices of ornamental stone,' says Jean-Bernard Forot, head of patrimony at Piaget. 'At Watches and Wonders, we're reintroducing the tiger's eye on a white gold case — an exquisite pairing that magnifies the stone's graphic, magnetic stripes.' At the end of last year, Hublot added a bold twist to its muscular Classic Fusion model, unveiling dials crafted from lunar meteorite, pink jasper, turquoise, sodalite and nephrite jade. Now, at the Geneva fair, Gerald Charles — founded by the legendary designer Gerald Genta, who was often dubbed the 'Picasso of watchmaking' — presented the Maestro with a radiant lapis lazuli dial. 'Lapis lazuli was chosen because it was Mr. Gerald Genta's favorite stone,' explained the brand's CEO Federico Ziviani. 'We hold the rights to his original sketch, so this design is completely aligned with our brand's DNA.' But why has the world of horology fallen for colorful hard-stone dials? 'Collectors love these dials because they bring individuality to a watch,' explained Scheufele, noting that each stone varies in hue, with unique streaks, inclusions, and shimmering effects that give every piece its own distinct character. The appeal also goes beyond aesthetics.'These stones aren't just beautiful — they carry meaning,' Scheufele continued. 'From birthstones to lucky charms, they hold an almost mythical energy. That emotional connection makes them irresistible.' Alba Cappellieri, head of the jewelry and fashion accessories program at Politecnico University in Milan, believes that collectors' growing fascination with hard-stone dial watches is closely tied to the broader revival of 1970s aesthetics. This resurgence has been particularly visible in luxury fashion: see the flared trousers, long sautoirs and bold mix of colors and prints seen at the latest shows of Valentino, Chloé and Chanel. 'The 1970s marked a break from modernist austerity, ushering in a more fluid, emotional, and decorative aesthetic,' Cappellieri explained, citing Emilio Pucci's 'palazzo pajamas' as a perfect expression of that era's 'relaxed yet sophisticated spirit, with kaleidoscopic prints and lightweight fabrics that drape naturally over the body.' Much like in the 1970s, current rising inflation and geopolitical tensions globally may prompt consumers to seek solace in color as a quick and uplifting antidote. 'Saturated hues and vibrant combinations are taking center stage,' Cappellieri continued, adding that the appeal of hard-stones such as lapis lazuli, malachite and mother-of-pearl 'goes beyond decoration' and 'reflect a desire to celebrate nature and its uniqueness.' However, for all their visual appeal and seemingly effortless ability to inject color into a watch, setting a dial using hard-stones is a delicate and complex process. Despite being classified as 'hard,' these stones are, in fact, fragile, explained Piaget's Forot. 'Opal dials are especially tricky — even after passing all the stress tests, the real moment of truth comes when the watch hands are applied to the dial,' he said. 'There's a tiny pressure at the center of the dial, and even the strongest slice can crack.' Still, the risk is worth it. 'One glance at a hard-stone dial instantly evokes images of a hedonistic, flamboyant lifestyle,' said Forot. 'You can almost feel the warmth just by looking at it.'
CNN
04-04-2025
- Entertainment
- CNN
Amid a '70s design revival, colorful hard-stone watch dials make a comeback
Even by the standards of watch boxes — typically oversized for the objects they hold — Chopard's latest leather case, unveiled at watch fair Watches and Wonders, is strikingly large. But the grandeur is justified. Open it, and it reveals not one, but twelve L'Heure du Diamant watches, arranged like precious petals. Each piece features the same diamond-studded bezel, framing twelve different dials crafted from thin, round slices of hard-stones including apple-green jade, cobalt blue agate, cinnamon brown tiger's eye, white mother-of-pearl, pink opal, onyx, carnelian, and more. The result is an elegant, unmistakably feminine collection with just the right dose of color and sparkle. 'My father, Karl Scheufele, introduced exquisite goldsmithing techniques that enabled the use of hard-stone dials when he took over Chopard in 1963,' explained Caroline Scheufele, Chopard's co-president and creative director, over a phone call. 'By the late 1960s, Chopard was already creating bold, colorful timepieces with these beautiful stones. Reviving them now is our way of celebrating that joyful creativity — while staying true to our heritage.' Chopard's latest creation may be the most eloquent example yet and perhaps the peak of the hard-stone dial craze that has been sweeping the world of luxury watches over the past couple of years. It's evident at Rolex, which reimagined its beloved Oyster Perpetual Day-Date 36 in uplifting tones of apricot carnelian, sky-blue turquoise and shimmering green aventurine. The watchmaker also updated its iconic Oyster Perpetual collection with a 28mm style, debuting in lavender and a matte finish, a first for the brand. Gucci gave its avant-garde, hands-free Grip timepiece a bold new look in sandstone-hued jasper, while Dior's Grand Bal Histoire Naturelle features sodalite, aventurine and aragonite. Chanel ventured into the cosmos to fetch meteorite for one of its elegant Monsieur watches. Elsewhere, Cartier's elongated oval-shaped Baignoire watch has a mesmerizing, hypnotic dial featuring an irregular mosaic of mother-of-pearl, turquoise, and onyx stones. This year, Piaget is also making a colorful splash with hard-stone dials. In one model from the Hidden Treasures collection, a green-hued opal dial peeks out from an intricately engraved white gold cuff, its outer frame rimmed with delicate emeralds. In another piece, a lavish sautoir with a rope-like chain is adorned with a 17-carat pink tourmaline and a white opal of over 12 carats, and holds a dial made of fiery red ruby root — the raw base material to which rubies are attached. The dial's vivid color is echoed by ruby root beads in juicy cerise and raspberry tones, interspersed throughout the chain. One might associate such colorful hard-stones with ladies' watches, which have historically featured softer colors or delicate details, but they're popular in men's timepieces, too. Piaget recently reimagined its iconic Andy Warhol watch in four striking variations, each featuring a different ornamental stone: blue opal veined with iridescent green, warm brown tiger's eye, vivid green meteorite, and silvery meteorite. 'The distinctive shape of this case offers an ideal canvas for showcasing exceptional slices of ornamental stone,' says Jean-Bernard Forot, head of patrimony at Piaget. 'At Watches and Wonders, we're reintroducing the tiger's eye on a white gold case — an exquisite pairing that magnifies the stone's graphic, magnetic stripes.' At the end of last year, Hublot added a bold twist to its muscular Classic Fusion model, unveiling dials crafted from lunar meteorite, pink jasper, turquoise, sodalite and nephrite jade. Now, at the Geneva fair, Gerald Charles — founded by the legendary designer Gerald Genta, who was often dubbed the 'Picasso of watchmaking' — presented the Maestro with a radiant lapis lazuli dial. 'Lapis lazuli was chosen because it was Mr. Gerald Genta's favorite stone,' explained the brand's CEO Federico Ziviani. 'We hold the rights to his original sketch, so this design is completely aligned with our brand's DNA.' But why has the world of horology fallen for colorful hard-stone dials? 'Collectors love these dials because they bring individuality to a watch,' explained Scheufele, noting that each stone varies in hue, with unique streaks, inclusions, and shimmering effects that give every piece its own distinct character. The appeal also goes beyond aesthetics.'These stones aren't just beautiful — they carry meaning,' Scheufele continued. 'From birthstones to lucky charms, they hold an almost mythical energy. That emotional connection makes them irresistible.' Alba Cappellieri, head of the jewelry and fashion accessories program at Politecnico University in Milan, believes that collectors' growing fascination with hard-stone dial watches is closely tied to the broader revival of 1970s aesthetics. This resurgence has been particularly visible in luxury fashion: see the flared trousers, long sautoirs and bold mix of colors and prints seen at the latest shows of Valentino, Chloé and Chanel. 'The 1970s marked a break from modernist austerity, ushering in a more fluid, emotional, and decorative aesthetic,' Cappellieri explained, citing Emilio Pucci's 'palazzo pajamas' as a perfect expression of that era's 'relaxed yet sophisticated spirit, with kaleidoscopic prints and lightweight fabrics that drape naturally over the body.' Much like in the 1970s, current rising inflation and geopolitical tensions globally may prompt consumers to seek solace in color as a quick and uplifting antidote. 'Saturated hues and vibrant combinations are taking center stage,' Cappellieri continued, adding that the appeal of hard-stones such as lapis lazuli, malachite and mother-of-pearl 'goes beyond decoration' and 'reflect a desire to celebrate nature and its uniqueness.' However, for all their visual appeal and seemingly effortless ability to inject color into a watch, setting a dial using hard-stones is a delicate and complex process. Despite being classified as 'hard,' these stones are, in fact, fragile, explained Piaget's Forot. 'Opal dials are especially tricky — even after passing all the stress tests, the real moment of truth comes when the watch hands are applied to the dial,' he said. 'There's a tiny pressure at the center of the dial, and even the strongest slice can crack.' Still, the risk is worth it. 'One glance at a hard-stone dial instantly evokes images of a hedonistic, flamboyant lifestyle,' said Forot. 'You can almost feel the warmth just by looking at it.'
South China Morning Post
31-03-2025
- Business
- South China Morning Post
Rolex's highly anticipated Oyster Perpetual Land-Dweller, the patent-packed new watch that's already a favourite of Testimonee Roger Federer, is finally here
What better way to start the first day of Watches and Wonders, the salon in Geneva where the great and good of horology gather annually to debut their newest timepieces, than with a launch from Rolex, one of the most famous of all watch brands Style was on-hand for an exclusive preview of the Land-Dweller, a thoroughly modern model that will surely become one of the most hotly discussed timepieces of the whole show. Until this moment, Rolex had always kept the next development in its famous Oyster Perpetual range tightly under wraps. Now we know that the new Land-Dweller packs a whopping 32 new patent applications and patents: 18 exclusive to this watch, with 16 of them involving the movement and one each for the dial and bracelet. This is all elegantly encased in a 40mm platinum and Rolesor (combining Oystersteel and white gold) case, or a 36mm 18k Everose gold case set with diamonds. Advertisement The Rolex Oyster Perpetual Land-Dweller in its 36mm diamond-set Everose gold guise. Photo: Handout Both models come with the brand-new Flat Jubilee integrated bracelet – a design with echoes of the 1969 and 1974 Datejust models that first introduced the integrated bracelet style to Rolex. The modern aesthetics of the Land-Dweller speak to the entrepreneur type, a client who appreciates a flowing silhouette with an unbroken line from bracelet to watch case, and the combination of polished and satin finishes creating a play of light. The wider bracelet is built for comfort, with an intricate and discreet mechanism joining the case to the strap, giving 90-degree movement in the hinge – an innovation that is among the patent applications. The use of reflected light, so visible on the bracelet, is continued onto the bezel. The 1908 Perpetual, launched in 2023, possesses a densely packed bezel of 180 flutes; this has been reduced to 60 flutes for the Land-Dweller, creating a more open pattern that catches the light in a very architectural way. The luxurious trapeze-cut diamonds on the Everose iteration Ref. 127286 and platinum Ref. 127386 add to the sparkle, with the overall aesthetic being clean and contemporary. Rolex testimonee and tennis legend Roger Federer wearing the Rolex Oyster Perpetual Land-Dweller. Photo: Handout A honeycomb pattern decorates the dials – a motif echoed on the second hand – while the ice blue dial is Rolex's signature colour for its platinum models. The hour markers are open-ended, while the font used for the 6 o'clock and 9 o'clock is a close cousin to that on Rolex's Explorer range. The Land-Dweller is a flagship of design and development that will launch a new generation of Rolex watches. This is especially noticeable in the development of the new movement, calibre 7135, which Rolex says is an evolution of the calibre 7140 in its 1908 model.
