Fastwong
2577
It's a crazy thing. I don't know what is going on behind the scenes but I have not been impressed with their direction since Calce joined and his joining seems to have been driven by Robert Greubel
Watching from the outside this seems to have really gotten started when Calce joined. He helped with the Richemont buyout adsorbing some of the share repurchase which then redistributed ownership across Greubel, Forsey, and Calce. Then Robert and Stephen started to back away from everyday ops to let Calce do his thing which imho was terrible. Calce's tenure should be a case study in how to make all the wrong moves in trading long term sustainability for short term gains at the expense of brand equity. While I was happy to see him go so Stephen and Robert could return they had to buy Calce out and I imagine through all these changes in ownership and views for the direction of the company they've landed in a very different place from where they started.
As for the watches, I think things are actually looking up now that Calce is gone and they are no longer pushing ever increasing volumes of sports watches but we'll see. I don't think the company is going anywhere and generally GF watch values have been on the uptrend so I don't think there's anything to really worry about in the short term. If anything, I fear for my wallet that the older watches before Calce when Stephen was still very involved will actually go up in value. I think the watches are fine. The brand however may go through a rough spot. Stephen was always the front man, Robert the hermit, and while Michel is so much better a spokesperson for the brand than Calce, he's still new in the role and doesn't have the gravitas that Stephen has.
Frankly Stephen Forsey is who I see when I think of the brand so it is tough for me to think of GF the same way going forward.