>>> Europe : Brokers Upgrades & Downgrades - 23rd of April 2024 V2(+)

>>> Up
* Belimo Raised to Buy at Research Partners; PT 500 Swiss francs (+)
* Ence Raised to Buy at Jefferies; PT 3.80 euros (+)
* Evli Raised to Accumulate at Inderes; PT 22 euros
* Galp Raised to Equal-Weight at Morgan Stanley; PT 19 euros
* Galp Raised to Outperform at Grupo Santander; PT 25 euros
* Gresham House Energy Storage Fund/The Raised to Buy at Stifel (+)
* Legrand Raised to Buy at Goldman; PT 112 euros
* Meyer Burger Raised to Buy at Baader Helvea
* Reckitt Raised to Hold at Jefferies; PT 4,400 pence
* Sandvik Raised to Buy at Pareto Securities; PT 265 kronor
* STMicroelectronics Raised to Buy at Berenberg; PT 49 euros
* Telenor Raised to Buy at Deutsche Bank (+)

>>> Down
* Betolar Cut to Sell at Inderes; PT 1 euro
* Embracer Cut to Hold at Deutsche Bank (+)
* Ferretti Cut to Neutral at BNPP Exane; PT 3.50 euros (+)
* Learning Tech Cut to Hold at Berenberg
* Mondi Cut to Underweight at Prescient Securities
* Rentokil Cut to Neutral at JPMorgan; PT 500 pence

>>> Initiation
* Aixtron Rated New Buy at Hauck & Aufhaeuser; PT 29.50 euros (+)
* BioMerieux Rated New Buy at Deutsche Bank; PT 121 euros (+)
* Impianti Rated New Outperform at EnVent S.p.A.; PT 70 euro cents
* Interparfums Rated New Buy at Berenberg; PT 62 euros
* James Fisher Rated New Outperform at Davy; PT 600 pence (+)
* LSE Group Rated New Buy at Investec; PT 10,400 pence (+)

>>> Call
* Aixtron New Buy at Hauck & Aufhaeuser, Valuation Very Attractive (+)
* Citi Strategists See Stock Pullback as a Buying Opportunity (+)
* Interparfums New Buy at Berenberg on Prestige Product Outlook
* JPMorgan’s Kolanovic Says Slide in US Stocks Has Further to Go
* OVH Outlook Commentary Is Disappointing, Morgan Stanley Says (+)
* Reckitt Loses Only Sell as Jefferies Sees Sentiment Improving
* STMicro Upgraded at Berenberg, Negative Trends are Priced-In
* UBS PT Is Cut at RBC as Too-Big-to-Fail Concerns Seen Justified (+)

WSJ : Sam Altman Invests in Energy Startup Focused on AI Data Centers

Sam Altman Invests in Energy Startup Focused on AI Data Centers
Investment by OpenAI CEO highlights artificial intelligence’s electricity appetite

The face of the artificial-intelligence boom is betting that a new twist on solar power and energy storage can handle some of the ravenous electricity demands of the industry’s data centers.

Sam Altman and venture-capital firm Andreessen Horowitz are among the investors putting $20 million into Exowatt, a company launched to tackle the clean-energy needs of big data centers.

Electricity is a flashpoint for the AI industry. Limited supply could pinch growth. Surging demand is also threatening to slow the transition to clean energy because utilities need to keep coal and natural-gas power plants running to meet demand.

Current solar, wind and battery technologies aren’t advanced or cheap enough in many parts of the world to cost effectively provide the 24/7 power data centers need. A single new data center can use as much electricity as hundreds of thousands of homes.

Companies from Amazon.com to Microsoft—a big investor in Altman’s OpenAI—are moving closer to power generation to ensure they get the electricity they need.

“You don’t have to go back to fossil fuels to solve the data-center energy problem…That’s counterproductive,” Hannan Parvizian, Exowatt’s chief executive, said in an interview.

Instead of solar panels arrayed across a field, Exowatt has developed modules roughly the size of shipping containers that contain solar lenses. The lenses convert energy from the sun into heat. That heat can then be used to warm up cheap, basic materials much like electricity heats up a toaster, allowing the modules to store energy for up to 24 hours a day.

The goal is to take advantage of the cost reductions from storing energy as heat. To produce electricity, the module passes the heat through an engine. Many other companies are working on different approaches to solar and low-cost heat batteries, but Exowatt says it is unique because it combines them in one unit.

Exowatt declined to provide more details about what materials it is using and how the heat engine works. Other companies are using carbon blocks, bricks, sand or salt to store heat.

Altman has also invested in nuclear power—both fission, which is used in today’s nuclear power plants, and fusion, which is far on the horizon. Other efforts like geothermal are also years away from operating cheaply at large scales.

Exowatt is prioritizing using components made in the U.S. to limit its dependence on China and to qualify for rich subsidies in the 2022 climate law. It could potentially stack tax credits for solar generation and energy storage, making the product ultracheap for customers. It is aiming to deploy its first units for data-center customers later this year.

The company hopes to eventually offer electricity as cheap as 1 cent per kilowatt-hour without subsidies, well below the cheapest power available today in energy-rich states like Texas. It has analyzed data showing that a large chunk of data centers in the U.S. are in areas with attractive solar profiles.

Parvizian is an engineer who worked at Tesla, General Electric and Siemens. He previously founded a vertical takeoff and landing drone startup that was acquired in 2022. He started working on Exowatt last year with Jack Abraham, the CEO of Atomic, a venture-capital firm that also helps executives build startups. They tested about 50 designs of their modules.

Abraham is a friend of Altman’s, leading to the AI executive’s investment. Altman and other technology executives have become increasingly vocal about the industry’s energy challenges. Amazon recently said it is buying a data center adjacent to a nuclear power plant for $650 million.

Altman is a big investor in a nuclear-fusion upstart called Helion and a nuclear-fission company called Oklo. Oklo is trying to go public by combining with a special-purpose acquisition company, or SPAC, also backed by Altman. Some of his bold plans, including raising trillions of dollars to reshape the global semiconductor industry, are viewed as long shots.

Miami-based Exowatt can succeed because its module is much cheaper to deploy due to its simplicity, Parvizian said.

>>> Stoxx 600 Pre-Market Indications

  • Aixtron (AIXA TH) +4.3%
    • Aixtron Rated New Buy at Hauck & Aufhaeuser; PT 29.50 euros
  • Delivery Hero (DHER TH) +3.3%
  • SAP (SAP TH) +3%
    • SAP Rises With Cloud Backlog a Highlight of Report: Street Wrap
  • Renault (RNL TH) +2%
    • Renault’s Solid EV Prices, Lower Costs Help Offset Slower Demand
  • Getinge (GTN TH) +1.8%
  • Prosus (1TY TH) +1.6%
  • STMicroelectronics (SGM TH) +1.4%
    • STMicro Upgraded at Berenberg, Negative Trends are Priced-In
  • TUI (TUI1 TH) +1.3%
    • Ryanair Puts OTA Hit in Rearview as Sales Look Up: 4Q Preview
  • Axa (AXA TH) +1.2%
  • Legrand (LRC TH) +1.2%
    • Legrand to Buy Dutch Health-Tech Firm for Over €500 Million
  • GSK (GS71 TH) -1.1%
  • Boliden (BWJ TH) -4.8%
    • Boliden 1Q Adjusted Operating Profit Misses Estimates

>>> TradeGate Pre-Market Indications

DAX:
  • SAP (SAP TH) +3.1%
    • SAP Rises With Cloud Backlog a Highlight of Report: Street Wrap
  • Infineon (IFX TH) +1.2%
    • STMicro Upgraded at Berenberg, Negative Trends are Priced-In
  • Bayer (BAYN TH) +0.9%
  • BASF (BAS TH) +0.8%
  • Deutsche Post (DHL TH) +0.8%
MDAX:
  • Aixtron (AIXA TH) +3.9%
    • Aixtron Rated New Buy at Hauck & Aufhaeuser; PT 29.50 euros
  • Delivery Hero (DHER TH) +3.6%
  • Jenoptik (JEN TH) +2.2%
  • Hensoldt (HAG TH) +1.6%
  • Siltronic (WAF TH) +1.4%
  • Thyssenkrupp (TKA TH) +1%
SDAX:
  • Varta (VAR1 TH) +4.7%
  • Thyssenkrupp Nucera AG & Co KGaa (NCH2 TH) +2.4%
  • PVA TePla (TPE TH) +2.4%
  • Hamborner REIT (HABA TH) +1.5%
    • Hamborner REIT Maintains FY FFO Forecast
  • Wacker Neuson (WAC TH) +1.3%
  • SFC Energy (F3C TH) +1.2%
  • Deutz (DEZ TH) +0.9%

>>> What to look at today - 23rd of April 2024

Shares in Asia rose, led by Hong Kong, after Wall Street rebounded from a $2 trillion selloff on optimism that big tech leaders will announce strong profits this week. Technology firms drove Hong Kong gauges higher after UBS Group AG upgraded shares in China to overweight, citing resilient earnings despite the nation’s property and macro worries. Japanese shares held their advance even as the yen briefly strengthened against the dollar after Finance Minister Shunichi Suzuki’s warnings against excessive currency moves. Investors are waiting to see if earnings will meet the lofty expectations for artificial intelligence this week when about 180 companies — representing over 40% of the S&P 500 market value — are due to report their results. The focus on earnings comes after a rout fueled by geopolitical fears and signals the Federal Reserve will be in no rush to lower rates. Futures for US shares were little changed after the S&P 500 topped 5,000 — halting a six-day rout — while the Nasdaq 100 rose 1%, with Nvidia Corp. leading gains in big tech. Apple Inc. was named a top pick for 2024 at Bank of America Corp. on optimism over its upcoming results. Treasuries were steady in Asia before a flurry of bond auctions that will test investors’ appetite after yields hit the highest in 2024. Australian and New Zealand bonds advanced.  The dollar was steady versus major peers, with the pause in its recent surge providing relief to region’s markets. A broader gauge of emerging market currencies gained in four out of five sessions after hitting a 2024 low last week.  Elsewhere, the Bank of Japan is widely expected to leave its benchmark interest rate unchanged Friday, with investors focusing on any hints of a less dovish tilt as the yen trades around a 34-year low.  In Asia, focus returns to China’s role as a major lender to developing nations amid a report the head of its central bank wants creditors engaged in debt restructurings to agree on how to fairly share the burden of relief.  In corporate news, Chinese bubble-tea maker Sichuan Baicha Baidao Industrial Co. plunged more than 31% in its trading debut in Hong Kong, underscoring the challenges the financial hub is facing in reviving investor confidence. Tianjin Construction shares slumped 30% in Hong Kong debut.
Gold extended losses after its biggest daily decline in almost two years, with easing tension in the Middle East and signs the Federal Reserve will keep rates higher for longer crimping demand. Oil nudged higher as traders weighed the next steps between Israel and Iran amid signs of easing hostilities following a tit-for-tat exchange of attacks last week.  Nearly two-thirds of 409 respondents in Bloomberg’s Markets Live Pulse survey said they expect earnings to give the US equity benchmark a boost. That’s the highest vote of confidence for profits since the poll began asking the question in October 2022. 
The challenge to S&P 500 returns this earnings season is that companies will have to produce earnings — and outlooks — that support the already elevated multiples, according to Megan Horneman at Verdence Capital Advisors. Indeed, stakes are high for the “Magnificent Seven” megacaps, whose profits are forecast to rise nearly 40% from a year ago, according to Bloomberg Intelligence.  Microsoft Corp., Alphabet Inc., Meta Platforms Inc. and Tesla Inc. report results this week — kicking off earnings for the so-called Magnificent Seven. With AI seen as the key to future profits, its contributions to the earnings mix is a focus for traders, a BofA team including Ohsung Kwon and Savita Subramanian said. US After Hours SAP +2.7% up on earnings; CALX -15%, SSD -8.7%, CDNS -7.4%, NUE -6.5% among top post-earnings laggards.

Nikkei +0.24% Hang Seng +1.90% CSI -0.50% Shanghai -0.37% Shenzen +0.13%

Eur$ 1.0656 CNH 7.2563 CNY 7.2451 JPY 154.77 GBP 1.2347 CHF 0.9126 RUB 93.7000 TRY 32.63 WTI$ 82.40 +0.61% Gold 2,309 -0.75% BTC 66,552 +0.01% ETH 3,185 -0.20%

S&P -0.03% Nasdaq -0.10% EuroStoxx +0.42% FTSE +0.55% Dax +0.53% SMI +0.69%

Macro :
- JPMorgan’s Kolanovic Says Slide in US Stocks Has Further to Go
- Quant Hedge Fund Aspect Mints 21% Return Playing Currencies
- Hedge Funds Snap Up Japan Rates Traders in Bet on Comeback
- Goldman to Add Dealmakers in Paris as Financial M&A Heats Up
- Strategists Are Divided Over US Profit Outlook: Earnings Watch

Keep an eye on :
- ABF LN : AB Foods 1H Adjusted Operating Profit Beats Estimates
- A4Y GY : Accentro Real Estate Delays Annual Results Amid Devaluation
- AKZA NA : Akzo Nobel Maintains FY Adjusted Ebitda Forecast
- ALLFG NA : Allfunds 1Q Revenue EU153M
- ALNT SM : Alantra Cuts Germany Staff Amid Investment Banking Slump
- AAD GY : Amadeus Fire 1Q Operating Ebita EU14.4M
- AAPL US : FIFA Said to Be Close to TV Deal With Apple for New Tournament
- IF IM : Banca IFIS's MSCI ESG Rating Raised to AA from A
- BARB BB : Barco 1Q Revenue Misses Estimates
- BA US : Boeing Expects Slower 787 Production Due to Parts Shortage: Rtrs
- BOL SS : Boliden 1Q Adjusted Operating Profit Misses Estimates
- COV FP : Covivio to Sell 49% Stake in a Portfolio to Caisse des Depots
- DNB NO : DNB Bank 1Q Net Interest Income Misses Estimates
- ENG SM : Enagas 1Q Net Income Beats Estimates
- ENTRA NO : Entra 1Q Net Operating Income Misses Estimates
- EQV1V FH : eQ 1Q Operating Profit Misses Estimates
- HABA GY : Hamborner REIT Maintains FY FFO Forecast
- HYQ GY : Hypoport Prelim 1Q Ebit EU4.3M
- IDIA SW : Idorsia Seeks to Tweak Bond Terms to Avoid Liquidity Constraints
- IDR SM : *INDRA HIRES BANKS TO SELL MINSAIT MAYORITY STAKE: CONFIDENCIAL
- INWI SS : Inwido 1Q Net Sales Misses Estimates
- IVS IM : Lavazza, IVS Holder Launch Offer for IVS at €7.15/Share
- KNIN SW : Kuehne + Nagel 1Q Ebit Meets Estimates
- LAVA IM : Lavazza, IVS Holder Launch Offer for IVS at €7.15/Share
- LR FP : Legrand to Buy Dutch Health-Tech Firm for Over €500 Million
- NTRY SM : Naturgy Chairman Exits Long Term Incentive Plan (April 22)
- NORION SS : Norion Bank AB 1Q Operating Profit Beats Estimates
- NOVN SW : Novartis 1Q Core EPS Beats Estimates
- NOVN SW : Novartis to Propose Ex-Bristol Myers CEO as Chairman at 2025 AGM
- OVH FP : OVH 1H Adjusted Ebitda Beats Estimates
- POM FP : Plastic Omnium 1Q Revenue Meets Estimates
- RAL FP : Rallye Says Court Decided Opening of Liquidation Proceedings
- RAND NA : Randstad 1Q Organic Revenue Beats Estimates
- RNO FP : Renault Beats Revenue Estimates on Clio, Megane E-Tech Sales
- SPM IM : Saipem 1Q Revenue Beats Estimates
- SAN FP : Sanofi Says Rilzabrutinib Phase 3 Study Met Primary Endpoint
- SAP GY : SAP Rises With Cloud Backlog a Highlight of Report: Street Wrap (*SAP ADRS FALL 3.5% IN US POSTMARKET AFTER RESULTS)
- TLGO SM : Ganz-Mavag’s Talgo Bid Request Admitted for Processing: CNMV
- TIT IM : Vivendi Abstains From Telecom Italia Shareholder Vote on Board
- UCG IM : Kruk to Buy Non-Performing Retail Loans From UniCredit
- VAR NO : Var Energi 1Q Ebit Matches Estimates
- VPLAYB SS : Viaplay 1Q Ebit Loss SEK473M Vs. Loss SEK325M Y/y
- WIHL SS : Wihlborgs 1Q Income From Property Management Beats Estimates

>>> Europe : Brokers Upgrades & Downgrades - 23rd of April 2024

>>> Up
* Evli Raised to Accumulate at Inderes; PT 22 euros
* Galp Raised to Equal-Weight at Morgan Stanley; PT 19 euros
* Galp Raised to Outperform at Grupo Santander; PT 25 euros
* Legrand Raised to Buy at Goldman; PT 112 euros
* Meyer Burger Raised to Buy at Baader Helvea
* Reckitt Raised to Hold at Jefferies; PT 4,400 pence
* Sandvik Raised to Buy at Pareto Securities; PT 265 kronor
* STMicroelectronics Raised to Buy at Berenberg; PT 49 euros

>>> Down
* Betolar Cut to Sell at Inderes; PT 1 euro
* Learning Tech Cut to Hold at Berenberg
* Mondi Cut to Underweight at Prescient Securities
* Rentokil Cut to Neutral at JPMorgan; PT 500 pence

>>> Initiation
* Impianti Rated New Outperform at EnVent S.p.A.; PT 70 euro cents
* Interparfums Rated New Buy at Berenberg; PT 62 euros

>>> Call
* Interparfums New Buy at Berenberg on Prestige Product Outlook
* JPMorgan’s Kolanovic Says Slide in US Stocks Has Further to Go
* Reckitt Loses Only Sell as Jefferies Sees Sentiment Improving
* STMicro Upgraded at Berenberg, Negative Trends are Priced-In

WWD : WWD’s Seven Best Timepieces From Watches and Wonders 2024

WWD’s Seven Best Timepieces From Watches and Wonders 2024
From Hermès' new play toward women to Rolex's one-third of an ingot gold timepiece, these watches stood out in this edition.
From the best new shape and fresh takes on refreshed classics to the queen of complications and a jewel that tells time, WWD’s editors pinpoint their favorite new pieces from Watches and Wonders — and those that almost made the cut.
Best New Classic: Patek Philippe 5738 1R Golden Ellipse, $60,097

The Ellipse case, inspired by the golden ratio, is without doubt a timeless shape that became a byword for Patek Philippe in the 1970s and has continued to be successful. But what hit the bull’s-eye this year isn’t the ultra-thin self-winding 240 caliber or even the black sunburst dial that compliments the rose gold livery of the piece: it’s the 363 links mounted by hand of its bracelet. The fact that it can now be adjusted by the wearer without requiring a jeweler to cut it permanently to size had conversations going in Geneva.

The Victory bracelet for the latest Patek Philippe Golden Ellipse is made of 363 hand-mounted links.
COURTESY OF PATEK PHILIPPE

Runner-up: The Cartier Tank Américaine Mini, with its tiny 24mm dimension.

Best Complication Combination: IWC Schaffhausen Portugieser Eternal Calendar, approx. $164,300
Watchmakers are always pushing the boundaries of what is possible and that’s what IWC Schaffhausen delivered with this 44mm model, which is the first secular perpetual calendar that will be accurate until 3999, adjusting for the skipped leap years at the start of every century until the leap year of 2400. What’s more: Its moonphase will be accurate for 45 million years. Yes, you read that right. And that’s a record that more than doubles the previous milestone, also held by IWC.
Runner-up: Vacheron Constantin with its one-of-a-kind Les Cabinotiers Berkley Grand Complication, which has a jaw-dropping 63 complications — including the first traditional Chinese perpetual calendar.

Best Technical Feat: Piaget Altiplano Ultimate Concept Tourbillon, est. 600,000 euros
By the end of the fair, there wasn’t much left to say about the Piaget AUC Tourbillon, which wowed with its coin-like thickness and its 1.49mm tourbillon movement wedged between a wafer of sapphire and cobalt alloy. All this in a wristwatch that no one could resist trying on, if social media is anything to go by.
Runner-up: Patek Philippe World Time 5330G-001, the first world-time caliber to have a local date.

Best New Shape: Hermès Cut, From $6,725
A circular dial within a pebble-like round with sharply cut sides, the Hermès Cut made for an interesting shape that balanced a geometric feel with a rounded sportiness. One of the biggest novelties for the French house for this year, this model is geared toward a female consumer looking for an easy yet elegant timekeeper. With a variety of options that range from steel on an integrated bracelet to steel-and-gold on rubber offered in eight colors for now, all with the same quick-release mechanism that allows for easy swapping, the Hermès Cut is meant to reiterate the performance of the H08 watch introduced in 2021 and bring new impetus to Hermès’ successful watchmaking division.
Runner-up: The Cartier Tortue, a classic brought back to life by the “watchmaker of shapes.”


Best Chronograph: Tag Heuer Monaco Split-seconds Chronograph, approx. $150,000
On paper this chronograph has the pedigree and the lineage. In person, it’s a fine watch that honors the split-seconds “queen of complications” movement, an entirely new one developed by Tag Heuer’s director of high-end watchmaking and movements strategy Carole Kasapi with Vaucher Manufacture Fleurier. A case lightened thanks to grade-5 titanium and sapphire on both sides allows every detail, right down to the gradient stripe on the oscillating mass, to shine. This Monaco iteration edged out its nearest competitor for its unique form factor.
The sapphire front and back gives a better view on the inner workings of this Monaco.
COURTESY OF TAG HEUER

Runner-up: A. Lange & Söhne Datograph Perpetuel Tourbillon Honeygold “Lumen,” three complications packed in one glow-in-the-dark package, which marks the 25th anniversary of the Datograph line and 30th anniversary of the brand.

Best Jewel That Gives Time: Reflection de Cartier, From $38,900
There are bracelet watches and then there’s this new bangle by Cartier. Sculptural and sizable, this bold design hits the spot for today’s jewelry consumer too. There’s the plain gold versions but it comes in more-is-more gem-set variants that culminate with the opal, tiger eye, amethyst and spessartite garnet model. And the watch face reflected in the polished side of the bangle feels like a nod to another Cartier move of the fair, the Santos Dumont Rewind.
Runner-up: A tie between Piaget’s latest Swinging Sautoir and Van Cleef & Arpels’ Lady Arpels Nuit Enchantée prototype watch, with its raw purple sapphires mimicking a geode cavern and cluster of façonné enamel flowers, a patented technique the house has recently developed.

Best Chunk of Gold: Rolex Deepsea, $52,100
Imagine this one as a third of a gold ingot you can wear on your wrist, with deep-sea credentials to boot. Clocking in at 320 grams, this is not just any divers’ watch. Coming in an unusual combination of 18-karat gold — already a first for the genre — paired with ceramic element and RLX titanium, it marks the emergence of the Deepsea as a pillar for the watchmaking behemoth.

Runner-up: Tudor’s 18-karat yellow gold Black Bay reference 79018V39-mm, with a matte green dial and a T-fit clasp on its yellow gold bracelet.

WWD : Five Brands Staked Their Horological Claims in Geneva Too

Five Brands Staked Their Horological Claims in Geneva Too
Bulgari, Damiani, Philipp Plein, B Corp-certified ID Genève and newcomer SpaceOne were among the highlights of a week of group shows, private dinners and exclusive showcases.

If the main hub for watchmaking during Geneva’s watch-centric week remained Palexpo, home to Watches and Wonders, there were no shortage of events reflecting the vibrancy of the industry.

The Haute Ecole d’Art et de Design (HEAD) hosted the “Time to Watches” group exhibition, which featured around 50 brands, while the Académie Horlogère des Créateurs Indépendants (or Watchmaking Academy of Independent Creators) showcased 20 signatures under the Masters of Horology banner including Philippe Dufour, Kari Voutilainen and Louis Vuitton Watch Prize inaugural winner Raúl Pagès.

Meanwhile, others opted to showcase in their factories, like F.P. Journe, or set up in the Beau-Rivage hotel, which has turned over the years into a hotbed of independent projects. Jewelers were showing off their horological creations, and those that did not also tapped into the moment to showcase selections of gems that could mesh with the precious direction also felt in timepieces.


Bulgari
The maze-like rooms at the top floor of Geneva’s Hotel President Wilson were bursting with excitement for Bulgari’s new record-breaking, 1.70mm-thick Octo Finissimo Ultra COSC, the thinnest mechanical watch resistant to shocks and magnetic fields, as well as the thinnest COSC-certified chronometer.

Yet amid some new configurations for its signature Octo Finissimo Tourbillon and Octo Roma collections, another range stole the spotlight.

In a first for the Roman jeweler and watchmaker, the Serpenti Tubogas collection got an artistic makeover by famed Japanese architect Tadao Ando, who had previously collaborated with the house in 2020 and 2021 for the Octo Finissimo range.

Conceived as an homage to the passing of seasons, four new limited-edition Serpenti watches were reimagined with colored marquetry dials of green aventurine, tiger’s eye, and white and pink mother-of-pearl. The snake head-shaped case is crowned by a row of diamonds on each side.
The Bulgari Tadao Ando x Serpenti collection.
COURTESY OF BULGARI

“I aim to integrate the various forces at play, to restore the unity of architecture with nature,” Ando said in a statement provided by Bulgari.

Each of the four pieces will be released timed with their respective season. Summer’s green aventurine version comes with a mixed media yellow gold and steel Tubogas bracelet, while autumn, with a tiger’s eye dial, features a rose gold bracelet and pink rubellite stone on the crown. The white mother-of-pearl’s wintry edition has a steel case and bracelet, while spring, dropping next year, mounts the pink mother-of-pearl dial on a steel and rose gold bracelet.

For diehard Serpenti Tubogas fans, Bulgari is also releasing 20 special boxes that include the four timepieces as an ensemble.

Damiani
In the year of its centenary and on the heels of unveiling an exhibition in Milan titled “Damiani 100 x 100 Italiani,” which runs through April 28, high jeweler Damiani is increasingly looking to enhance its reputation in the high watchmaking sphere.

Playing by the rulebook of a fine jewelry brand, the Italian company decamped to Geneva, harnessing its “Mimosa” lineup for new bejeweled quartz movement timepieces, which come in a range of colorways and are embellished with diamonds.


A Damiani Mimosa timepiece.
COURTESY OF DAMIANI

The house described the line’s design ethos as “apparent chaos” for the seemingly haphazard placement of gemstones. A new 32mm timepiece featuring a soleillé dial in green, blue, red, gray or brown, among other colors, boasts 3.44 carats of diamonds arranged in two rows around the bezel to create a blossom-like pattern, while a sister version adds a diamond pavé dial to the equation for a total of 4.03 carats.

ID Genève
“A watch as secure as a Swiss passport,” said cofounder and chief executive officer Nicolas Freudiger of the Elements collection he teased in private appointments. “In 2024, we are wondering how to lower our digital footprint.”

Using a patented nanoengraving technology usually used for bank notes and government-issued IDs resulted in unique holographic dials. But rather than just ensuring traceability and authenticity without CO2 emissions — no cloud-powered data storage here — the designs inspired by the four elements and humanity are a reminder of our place within a living ecosystem that needs to be preserved at all costs.

And that’s what ID Genève is all about. The four-year-old company, which has been working toward zero impact in its product and operations, has been using solar steel (with a carbon footprint 165 times smaller than regular steel), straps made from wine residue or tree waste from London parks and seaweed packaging that can dissolve in water within hours.

With an average price of 4,500 Swiss francs, the brand has been growing steadily since it was crowdfunded in late 2020, selling 600 watches last year and targeting 1,000 pieces in 2024.
The fledgling watchmaker was awarded B Corp status in October 2023 and raised a $2 million seed round that famously included Leonardo DiCaprio among its investors.

Philipp Plein
Upon his second effort, Philipp Plein sounded both more determined and more focused than a year ago when he took over a suite at the Fairmont Hotel to unveil his venture in the high watchmaking universe.

“Last year this was a small experiment, which played very well for us,” the designer and entrepreneur said. “We are really competing with other big brand names, which have a lot of history and tradition. And of course, we are [bursting into] this industry….Selling such a luxury item, you need to talk a lot, you need to explain a lot, you need to educate a lot, yourself and your people,” he said, adding that the new category has brought in customers unfamiliar with the brand’s fashion proposition.

Unveiling the new collection at a recently opened pop-up shop facing Lake Geneva, Plein pulled out the brand’s first tourbillon, dubbed Crypto King Flying Tourbillon, and mounting a bespoke manual winding, flying coaxial tourbillon Landeron caliber exposed via the skeletonized dial.
The Philipp Plein Crypto King Flying Tourbillon
COURTESY OF PHILIPP PLEIN

The case bearing a distinctive hexagonal pattern comes in four color combinations, including fiery red and clear white, black and white, black and orange, as well as in black carbon version accented with 18-karat rose gold screws, side cage and crown.

The loud and complication-rich design is complemented by the Crypto King Hexagon tonneau-shaped watch featuring the hexagon pattern throughout, including at the center of the dial framing the brand’s double P logo, and a Swiss-made automatic movement visible from the open caseback.

SpaceOne
For SpaceOne cofounders Guillaume Laidet and Théo Auffret, presenting their second subscription timepiece at the Beau-Rivage hotel in Geneva was something of a moonshot — and that’s not a play on its complication featuring the sun, earth and moon orbiting each other.

Just under a year earlier, the French horological start-up had raised $1 million on Kickstarter for their first watch, under the moniker “Argon SpaceOne,” when a trademark infringement complaint saw their initial launch abruptly aborted, with backers refunded and astronomical bills.

“It was quite the comedown,” said 37-year-old Laidet, who is also CEO and co-owner of independent watch brand Nivada Grenchen.

Long story short, after a frightening passage solved by changing the name to SpaceOne, their initial futuristic design took flight once more as they raised the funds a second time. A new French watchmaking label was born.
The SpaceOne Tellurium’s complication is an automatic heliocentric tellurium, which features the sun, earth and moon orbiting each other.
COURTESY OF SPACEONE

Fast-forward a few months and for the second one, “Guillaume arrived saying he wanted ‘planets, planets,’ and I had a model tellurium in the workshop,” recalled Paris-based watchmaker Auffret, who won the F.P. Journe young talent competition at 2018’s SIHH.

While the SpaceOne Tellurium owes its sleek outline to the work of Olivier Gamiette, who designs vehicles at Peugeot, and houses Auffret’s automatic “heliocentric tellurium” movement that sees the trio of celestial bodies move to indicate the date, the watch is priced at a mere 2,990 euros.

Although the preorder runs until May 5, more than two-thirds of the initial 300-strong run for the Tellurium have sold, with 100-plus pieces going before the watch was even revealed.