President of the Grand Prix d’Horlogerie de Genève (GPHG), Raymond Loretan, on Harper’s Bazaar Vietnam October 2024 issue. Ảnh: Nikita Thévoz
As anticipation builds for the upcoming GPHG 2024 Exhibition’s debut in Vietnam, Harper’s Bazaar had the pleasure of featuring an exclusive conversation with Raymond Loretan, President of the Grand Prix d’Horlogerie de Genève (GPHG) Awards. With his comprehensive view of the watchmaking industry, Mr. Loretan shared unique insights into the sector’s evolution, GPHG’s rigorous selection process, and the rationale behind Vietnam’s inclusion as the latest destination on the prestigious award’s exhibition tour. The interview provided a holistic perspective on the future of watchmaking artistry while affirming Vietnam’s growing significance in the global luxury timepiece landscape.
HARPER’S BAZAAR: Raymond, you have a comprehensive view of the watchmaking world. How do you see the industry evolving today, and where do you think it’s headed?
MR. RAYMOND LORETAN: From what I observe, the industry is undergoing a significant transformation driven by both technological advancements and, interestingly, a renewed appreciation for traditional craftsmanship among younger people. Today, there is a growing interest in learning about technology for various reasons, including health and competition. However, this technological interest coexists with a strong market for traditional luxury mechanical watches.
I believe this trend indicates a balanced evolution where innovation meets tradition, catering to a diverse range of consumers while also reflecting a return to traditional values. We are moving towards sustainability and personalization, which are likely to become key drivers, with brands increasingly focusing on eco-friendly practices and offering bespoke experiences to their clients. These observations are, of course, dependent on geopolitical developments, where uncertainties persist due to the ongoing conflict in Ukraine, the crisis in the Middle East, uncertainties about China’s future global role, and the outcome of the American elections. All these factors are impacting the global economy and, consequently, the watchmaking industry.
HARPER’S BAZAAR: Can you give us an insight into the selection process of GPHG? Are there any guidelines, mandates, or eligibility criteria?
RAYMOND LORETAN: In 2020, we made a significant shift by creating the Academy of the GPHG, which marked a change of paradigm in our approach. The Academy now consists of almost 1,000 members from all over the word. We can now really proclaim that our selection process is entirely independent neutral and impartial.
Previously, the jury consisted of only 30 people selected by the jury president. Now, the academicians, including the members of the final jury, all participate in all the stages of the selection process. This process is meticulous, accepted and respected by the brands. Watches are proposed by the Academicians, but the final decision to enter the proposed watches into the competition lies with the brands. Brands may also submit additional watches. These entries are subsequently evaluated by the Academicians, a group that includes watchmakers, designers, journalists, and collectors, among others.
Each year, 90 watches from around the world, spanning 15 categories, will be nominated by the Academy during the first round of voting this summer, following the principle of universality. The nomination list will be announced at the end of August. The final selection will occur during a second round of voting, with the Academy voting via a digital platform and the Jury meeting physically in Geneva. The Prize list will be revealed on November 13 at the Awards Ceremony in Geneva. The guidelines include criteria such as innovation, craftsmanship, aesthetics, and overall contribution to the watchmaking industry. You will find all the details on our website www.gphg.org.
Eligible timepieces must be commercially available in the current year of the competition and should exemplify exceptional quality and design. This year, we introduced an Eco Innovation Prize with an emphasis on sustainability. Additionally, we encourage all brands to participate in this competition as an act of solidarity with the industry, much like the Olympic spirit, where the importance lies in participating without the guarantee of winning.
GPHG trophy
HARPER’S BAZAAR: What factors influenced the decision to include Vietnam, specifically Ho Chi Minh City, in this year’s GPHG exhibition tour?
RAYMOND LORETAN: Vietnam has shown a growing interest in luxury goods, with an emerging community of watch enthusiasts and collectors. The country’s economic growth and increasing sophistication in consumer preferences make it an attractive new destination. We also hope to discover watchmaking talent and new academicians in Vietnam during our visit. For many brands, Vietnam is a place to be. While many of the brands in the exhibition are already well-known here, some may still be new to Vietnamese audiences. It is also our responsibility to introduce these unique and creative brands to new markets. Our exhibition offers a rare opportunity to see 50 brands and numerous watches in one collection, showcasing a remarkable diversity that you won’t find elsewhere.
HARPER’S BAZAAR: This is the third GPHG exhibition organized by The Hour Glass in Southeast Asia. How did the collaboration between GPHG and The Hour Glass for the Vietnam exhibition come about?
RAYMOND LORETAN: We maintain close contact with our partners in Asia, especially with The Hour Glass. My relationship with The Hour Glass goes back to 1997 when I was the Swiss Ambassador to Singapore. I’ve known Dr. Henry Tay’s family since then, and I’m acquainted with his son, Michael Tay. When I joined GPHG in 2018, I was pleased to discover that The Hour Glass was such a valued partner. Their presence and influence in Southeast Asia provide a reliable partnership to ensure the exhibition’s success wherever we go. We share the same mission to promote watchmaking culture, which is vital to us. We trust them, and we are thrilled to organize an exhibition in Vietnam, thanks to and with them, for the first time.
The 2023 GPHG’s only stop in Southeast Asia was hosted by The Hour Glass with a special exhibition at Pavilion Kuala Lumpur.
HARPER’S BAZAAR: Can you tell us about any special curation or presentation techniques that will be used to showcase the 90 nominated watches at the Vietnam exhibition, and how these might differ from exhibitions in other cities?
RAYMOND LORETAN: As with every year, the Vietnam exhibition will feature a unique curation and presentation tailored to resonate with local audiences while maintaining the high standards of the GPHG. The 90 watches will be displayed with a focus on storytelling, highlighting the heritage and innovation behind each timepiece. Watch specialists from The Hour Glass will be present to explain each piece, making the exhibition interactive and engaging for visitors. We will have an official grand opening event, private visits, and presentations, but the exhibition will also be open to the public.
The Hour Glass will create an immersive experience with special showcases, presenting the watches as we do in Geneva, while also reflecting Vietnamese culture and aesthetics. We hope to work with The Hour Glass on educational initiatives, as it is important to motivate young people to discover the various careers involved in watchmaking and learn to appreciate the beauty, technicality, and magic of this craft.
The award-winning timepieces were showcased at Zurich’s Kunsthaus for the last exhibition of the 2023 edition.
HARPER’S BAZAAR: How do you think the Vietnamese watch industry and collector community will respond to this prestigious exhibition? How do you see this exhibition contributing to the growth of watch enthusiasm and collecting in Vietnam?
RAYMOND LORETAN: We expect the Vietnamese watch industry and collector community to respond with great enthusiasm, as this is a unique and prestigious exhibition, showcasing the best watches of the year. I believe it will serve as a milestone to raise awareness and appreciation for fine watchmaking in Vietnam and Southeast Asia. By presenting a diverse range of high-caliber timepieces, this exhibition will inspire and educate collectors and enthusiasts, fostering a deeper connection with the global watchmaking community. I believe this exhibition will stimulate interest in watch collecting and potentially spur the growth of local watch brands and retailers. Promoting the watch industry and its culture is our mission, and we take it very seriously.
Mr. Raymond Loretan delivered a speech at the GPHG 2023 awards ceremony
HARPER’S BAZAAR: Looking ahead, do you see Vietnam becoming a regular stop on the GPHG exhibition circuit, and what would that mean for the country’s position in the global watchmaking landscape?
RAYMOND LORETAN: We will assess how this exhibition is received and evaluate the potential growth of the watch community in Vietnam to determine if it could become a regular stop on the GPHG exhibition circuit.There are many other destinations to consider, but including Vietnam would signify the country’s rising prominence in the global watchmaking landscape, positioning it as a significant market for the industry. It would highlight Vietnam as a key player in the luxury watch industry, attracting more international attention and investment, and contributing to cultural and economic development.
We are eagerly awaiting the first Vietnamese watch brand to compete in the future. We, along with The Hour Glass, are doing our part to promote this beautiful industry and the jobs it creates. Every time we introduce our exhibition to a new location, it stimulates the local market. For example, our visit to India was incredibly stimulating and helped to promote the watch industry’s job market, not just sales. At the end of the day, if it stimulates business, that’s a good outcome, and it’s part of our mission.
The winners of the Grand Prix d’Horlogerie de Genève (GPHG) 2023
The winners enjoy their moment of victory at GPHG 2023
HARPER’S BAZAAR: Thank you, Mr. Raymond Loretan.
Harper’s Bazaar Vietnam
