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Old 10-16-2013, 09:57 AM   #1851
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October 16, 2013 |
Filed under: Columnists |
Author: Tayo Fagbule
The watch making industry, past and present, is a most convenient chronological narrative for Nigeria’s go-slow industrial development. For intrepid Nigerian entrepreneurs and future industrialists the history of watch making offers lessons, because whether we admit it or not, it has an 18th century turn of
Let’s start from the present. In 2012, Africa recorded the highest growth in the importation of timepieces made in Switzerland, based on data compiled by the Federation of the Swiss Watch Industry. The total value of watches exported was SFr 21.4bn ($$$); mechanical watches were solely responsible for growth but gold watches accounted for over 94 percent of total watch exports by value. Asia (China and Hong Kong) is the largest markets for Swiss Made watches, with Hong Kong in pole position.Fake Rolex Watches
Several disruptive inventions: the quartz crystal, the digital watch and clocks on mobile phones have tried the resilience of watchmaking. Still, the market for Swiss Made mechanical watches, as articles of taste and status, remains hardy.Replica Rolex Watches
China’s export of watch making products in 2012 was the equivalent of $5.1bn. It directly exported 662.5 million finished watches, a bit lower than it did in 2011 but retained its position as the world’s largest exporter of timepieces, in terms of volume.replica watches
Can Nigeria, with its abundant human and natural resources, replicate this? Can we profitably employ 11 million youth who are neither in school nor active in the labour market in light manufacturing? Can well managed companies turn leather from the north, cash crops from the west, east and south, into a shoe and agribusiness industry?luxury watches online
*The World Bank reports that “Industrialization can begin rapidly by targeting promising sectors with modest skill requirements.” Take, shoe manufacturing for instance. Within two weeks inexperienced workers can learn to operate sewing machines.Replica Rolex Watches
In terms of cost, the average export price of watches from China was $3, 50 percent higher than in 2011. Watches bearing the “Swiss Made” trademark are the priciest; their average export price was $739, 8 percent more than the previous year. (The no frills Casio mechanical watch, which I bought last year, was cased in China).
Ironically, in 1874 the Cornell Watch Company set up shop in San Francisco to take advantage of Chinese labour. It failed within a year. Today, Chinese demand for Swiss watches is rising, so too is expert customer service, but talent is scarce. Patek Philippe opened its first workshop outside of Geneva in Shanghai last September.
Besides, there is a market for Zurich-designed but China-made watches.
Watchmakers are adopting the model Apple used for the iPhone – China is now a source of cheaper components and labour that can match Swiss quality; a manufacturing system that originated in the US.
Cheap “Dollar” watches, first manufactured in 1890s by the Waterbury Watch Company in the US, are a vital part of America’s “peculiar” innovation. It is the story of interchangeable parts, standardisation and division of labour. An ecosystem of apprentice mechanics and machinists and tinkers that became inventors, venture capitalists, patents and benign insolvency laws caused a manufacturing contagion: a mass production factory system that spread to the manufacture of shoes, clothes and watches which though inelegant were cheap, practical and useful.
In “The Watch Factories of America, Past and Present: A Complete History of Watchmaking in America from 1809 to 1888 Inclusive” we find protagonists of watchmaking such as Aaron Dennison. He foresaw the mass manufacture of wristwatches using interchangeable parts.
In 1846, furnished by his frequent visits to Eli Whitney’s armoury in Springfield, Dennison concluded that mass production of watches was possible. In 1789, Whitney, an inventor, used interchangeable parts to make 10,000 muskets for a federal government contract.
Whitney replaced skilled labour with stamping and cutting machines, substituting machinery, used for manufacturing standardised interchangeable parts, with the custom work of skilled labour. With unskilled workers the parts were assembled into guns. It was this peculiar American innovation that Dennison applied to watchmaking.
In 1849 Dennison and Edward Howard, a friend and veteran watch and clockmaker, convinced it was a profitable undertaking sought Samuel Curtis, a capitalist, who invested $200,000 in the venture.
Dennison spent the initial capital on a tour of England, to observe the watchmaking process and secure supply of materials. Dennison returned certain that the interchangeable system was most convenient for production of watches in the US.
The watchmaking system in England which involved outsourcing “dial-making, jewelling, gilding, motioning, etc, to others, down almost the entire length of the alphabet” came with risks: quality, timely delivery etc.
Besides, the US, at the time, was short on skilled labour. In the mass manufacture of watches, unskilled labourers assembling parts made from machines raised productivity.
Though Dennison’s first venture failed, because the investors were not “bountifully supplied with money”, he went to found the Waltham Watch Company, which in its prime churned millions of wristwatches.
Cities in the environs of Massachusetts, overtime, became a cluster for watchmakers. There Dennison and others with money from several capitalists invented automated machines, tweaked and tinkered and designed, reduced the number of parts for a watch and perfected the production process that resulted in cheap watches like the $1 Waterbury watch.
Rising productivity in the watchmaking industry had to contend with higher wages and high interest rates which made borrowing money to buy new machinery expensive. However, because technological improvements increased productivity and the return on capital, new investments increased. The US economy was characterised by technology efficiency, high wages, high interest rates and rapid growth.
Nigeria’s growth is overly and precariously dependent on oil and has not been matched by employment. Infrequent electricity supply and low human capital development are serious constraints. As assembly plants, for turbines in Calabar and cars in Badagry, come on stream, good economics dictates that scarce resources are applied sparingly and abundant resources generously.
The future is promising. A seismic shift in generation and distribution of electricity supply coupled with the movement towards a market philosophy in agriculture, especially with increasing investment in fertilizers and the emergence of petro-chemical industry, will positively affect output and consumption. Nigeria’s output is estimated to grow by 7 percent in 2014 and 2015.
By:*Tayo Fagbule
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Old 10-17-2013, 09:32 PM   #1852
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Apple sticks with elegance with hire of Angela Ahrendts of Burberry By Heather Somerville Posted:

10/15/2013 03:59:42 PM PDT Updated:

10/15/2013 04:13:38 PM PDT
(FILES) A file picture taken in London on November 9, 2010, shows CEO of Burberry Angela Ahrendts addressing delegates at the Heritage Luxury conference. British luxury fashion group Burberry on Tuesday October 15, 2013, said its long-serving Chief Executive Officer Angela Ahrendts will step down next year to take up a new position with Apple. AFP PHOTO / LEON NEAL/FILESLEON NEAL/AFP/Getty Images
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CUPERTINO -- Apple ( AAPL ) has hired Burberry Chief Executive Angela Ahrendts to head up its retail division, a move that signals the tech giant won't compromise on elegance and luxury even as it tries to expand into overseas markets and attract more middle-income consumers.<a href="">tiffany</a> Apple announced Monday that Ahrendts will join the company in the spring as senior vice president of retail and online stores, where she will oversee store expansion and operation as well as retail design efforts. Ahrendts' hire fills a yearlong vacancy and brings much-needed leadership and stability to Apple stores, which have been without a top executive since former retail chief John Browett was canned last October, experts said tiffany & co Ahrendts will become the only top-level woman executive at the company, reporting directly to CEO Tim Cook, and ****ysts expect her salary to be one of the most generous Apple has ever doled out. 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Ahrendts is credited with Burberry's turnaround from a stale clothing line to one of the most recognizable luxury brands in the world, sported by celebrities and mentioned in one of rapper Jay-Z's most popular tunes.<a href="">cheap tiffany</a> Ahrendts has made no secret of her admiration for Apple, and in a media interview in 2010 she called the company a leader in design and innovation that Burberry looked up to.In a statement released Monday by Apple, she said: "I have always admired the innovation and impact Apple products and services have on people's lives and hope in some small way I can help contribute to the company's continued success and leadership in changing the world."Apple has more than 360 retails stores, and is adding about 30 to 40 per year, most of them outside the U.S. Among Ahrendts' first tasks will be to improve Apple's performance in China, where Apple sales have slowed. The company has just eight stores in that country. Ahrendts has considerable experience in China, where Burberry is one of the leading luxury fashion brands, outperforming others through an active social media presence and digital marketing strategy.Apple employees have complained of layoffs and having their hours cut, and some experts say customer service at the stores has suffered. Bringing customer service back up to the high quality it used to have is one of the tasks Ahrendts will face."If you go into Tiffany's or you go into a Burberry or you go into a Chanel, people will come to help you, and no one is selling you," said Robert Passikoff, branding expert and founder and president of Brand Keys. "That was always the experience of the Apple store."The new hire also signals Apple's move toward more wearable gadgets, which may expand to include more jewelry and head pieces, said Danielle Levitas, a senior ****yst at IDC. Tasteful design, she said, will be a critical part of weather or not Apple succeeds in that market."What they need is someone like (Ahrendts) to say 'No woman is every going to wear that,'" Levitas said. "They're not just making tech gadgets for tech geeks."But the fusion of luxury fashion with iPhones and iPads leads some ****ysts to question Apple's commitment to serving a lower-income market, despite the company's promises of making cheaper gadgets."This signals that they are not going to cheapen the brand just to expand their market," Levitas said.Apple has long been criticized for its price points, which are often out of reach for many U.S. consumers and most in the developing world.Burberry handbags sell for $2,000 to $3,000 -- not exactly pocketbook-friendly. But Ahrendts brings with her a familiarity with luxury retail marketing that will help preserve Apple's image as the must-have tech brand. "If you feel as a consumer that you're better than other people because you have some of these things ... it's worth the premium to go buy it," said Roger Kay, president of Massachusetts-based Endpoint Technologies Associates "Ahrendts is coming to Apple to make sure it remains a premium brand."In a statement posted on the Apple website, Cook said Ahrendts "shares our values and our focus on innovation, and she places the same strong emphasis as we do on the customer experience. She has shown herself to be an extraordinary leader throughout her career and has a proven track record." Contact Heather Somerville at 510-208-6413. Follow her at Apple's New Retail Head Angela Ahrendts Current Position: CEO of Burberry since 2006 New Position: Senior vice president of retail and online stores for Apple, reporting directly to CEO Tim Cook, starting spring 2014 Past: President of Donna Karan International, executive vice president of Liz Claiborne Age: 53 Hometown New Palestine, Ind. 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Old 10-17-2013, 09:32 PM   #1853
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Old 10-17-2013, 09:32 PM   #1854
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<p>SINGAPORE's historic Chinatown has come full circle. <strong><a href="">chinese clothing</a></strong> From being the hot spot in the 1950s for literally everything — people came here to get their marketing done, find the latest cheongsam style, meet friends and family over delicious dim sum and celebrate festivals — to then suffering a decline in the Seventies with the onset of modernity, it has emerged again today as a must-visit area of the island nation. <strong><a href="">Chinese clothing</a></strong> Chinatown in Singapore encompasses five districts — Telok Ayer, Bukit Pasoh, Tanjong Pagar, Kreta Ayer and Ann Siang Hill — all of which were designated conservation areas by the Urban Redevelopment Authority in 1989 — a move that was the key to the preservation of the colonial shophouses that still define the landscape today. <strong><a href="">Beautiful Clothes</a></strong> Locals and tourists alike flock there to dine at chic, contemporary restaurants and hip coffee joints, or old school kopitiams and eateries serving traditional local fare; shop at niche retail shops, including some of the oldest businesses in Singapore; socialise at one of the many watering holes; and stay in the various interesting design-oriented boutique hotels. <strong><a href="">The Tang costume</a></strong> Chinatown is a hive of activity, buzzing with renewed energy and vitality that was unheard of just a few years ago. <strong><a href="">The Tang costume</a></strong> Numerous factors have contributed to its revitalisation, from better access to the area provided by the construction of the mass rapid transit (MRT) station there in 2003, to entrepreneurs thinking outside the box, and concerted efforts by the Chinatown Business Association (CBA) and the Singapore Tourism Board (STB) to attract tourists and locals — especially the younger generation — to the area. <strong><a href="">The Tang costume</a></strong> Loh Lik Peng, founder and managing director of Unlisted Collection, is one such visionary entrepreneur. A pioneer in the region for setting up boutique hotels, the lawyer-turned-hotelier's first project was Hotel 1929 in the former red-light district of Keong Saik Road. Converted from a brothel and opened in 2003, Hotel 1929 is renowned for its sophisticated and swanky design. Loh tells Options that he was attracted to the idea of working on a heritage building, and then tried to "make the location work for me". That he certainly did, and others have since followed suit — including the relatively new Naumi Liora, situated right across from Hotel 1929; the Santa Grand Hotel Lai Chun Yuen on Trengganu Street, formerly a Chinese opera house; and The Porcelain Hotel on Mosque Street. Loh himself opened another boutique hotel in Chinatown in 2006 — the New Majestic Hotel in Bukit Pasoh Road. Surrounding these hotels are quirky shops, trendy fashion boutiques and contemporary eateries serving all manner of cuisines. There's French fine dining establishment Andre, trendy Spanish tapas bar Esquina, Mexican taqueria Lucha Loco, hip caffeine joint Oriole Coffee Roasters, and gourmet steak and seafood place Luke's Oyster Bar &amp; Chop House, to name but a few. Watering holes are also aplenty, from clubs and pubs to chic ****tail bars — including a password-access underground bar, deceptively called The Library. What has brought about this interest in setting up shop in Chinatown? Loh weighs in: "I think it's a combination of Singaporeans becoming more aware of these historically important and architecturally rich areas of Singapore, and how culturally unique they are. It's a renaissance a long time in the making, because these areas were seen as old-fashioned and not very cool only a short time ago. "The landlords didn't appreciate these old areas with their shophouses, because they always felt that the heritage status restricted what they could do with them. 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The CBA, working together with STB, also deserves much credit for its efforts to market and brand Chinatown, not only to tourists but more crucially, to the younger generation of Singaporeans, to ensure its relevance and continuity in the future. In 2011, the website was set up as a virtual encyclopaedia on Chinatown, with interactive elements and content on the area's history, food guides, hotels and shopping tips. That same year also saw the launch of the "I love Chinatown Singapore" campaign, with a series of online and social media initiatives on Facebook and Twitter, to encourage young Singaporeans "to make Chinatown a part of their lives", according to the website. "Heritage doesn't have to be stuffy and boring," says Sylvia Ng, marketing communications manager of the Chinatown Heritage Centre, in a press release. "We are creating culture, as we expand Chinatown's presence into the digital world and work our way into the hearts of the younger crowd. This movement will define an intangible part of our heritage, in years to come.” The CBA has also reached out to schools, to encourage them to take their students on day trips to Chinatown, and the sight of schoolchildren exploring this area is not uncommon on a weekday. Last year saw the opening of the Chinatown Visitor Centre at Kreta Ayer Square — an information resource base with a gift shop selling souvenirs, such as the specially-created Chinatown dolls. The centre also offers daily themed walking tours — organised in partnership with travel agent Tour East — that are designed to give visitors a taste of the real Chinatown. If you choose to explore on your own, there are heritage markers placed at numerous interesting historical spots, that provide a short history of the location in three languages: English, simplified Chinese and Japanese. Chinatown's potent mix of the old and new, the mainstream and the offbeat, with a healthy dose of history and heritage, all combine to make for a truly unique destination in Singapore.</p><p> </p>
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Old 10-17-2013, 09:33 PM   #1855
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Old 10-17-2013, 09:33 PM   #1856
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