Parmigiani Fleurier at Watches & Wonders 2025 in-depth feature
After attending Watches & Wonders 2025, Angus Davies reflects on his time spent with Parmigiani Fleurier. The Lancastrian explores the Maison’s latest releases with the company’s CEO, Guido Terreni, a keen advocate of discreet luxury.
Spending time with Parmigiani Fleurier
Parmigiani Fleurier, the prestigious Maison based in the Val-de-Travers, is a company I know well. Back in 2013, I was asked if I would be interested in writing content for ‘Le Blog’, the brand’s online publication at the time. As a longtime admirer of PF, I eagerly answered in the affirmative and soon thereafter I travelled to Switzerland where my education began in earnest.
I still recall the Head of Sales collecting me from my hotel in his white Citroën and travelling along twisty mountain roads. We visited an array of factories where a variety of components are crafted, including dials, cases and movements. While unquestionably a longtime fan of Haute Horlogerie, at that stage I never fully appreciated the importance of something as seemingly simple as a screw; that is until a team of watchmakers enlightened me. Indeed, reflecting on my time with Parmigiani Fleurier, I realised there was much more to watchmaking than the usual diet of press releases and staged factory visits that I had hitherto consumed.
Parmigiani Fleurier x Restorations
One of the most memorable experiences from spending time with them was visiting the company’s Restorations Department. Within the confines of a modestly sized room, rare automata, clocks and watches are sympathetically restored to their original condition. Voluminous files detail every component in microscopic detail, both in written and photographic form. Due consideration is given to each part regarding its composition, design and provenance.
During my visit, I recall seeing a disassembled clock on a bench. A spring found within the clock was neither period, nor technically, correct. A detailed explanation was entered in the accompanying file and a suitable alternative was fitted.
Every facet of each horological gem is considered in great detail, often necessitating much historical research. The overriding aim is to return the item to its original condition and specification. At no stage should the restorer impart his/her own character on a piece, the original master’s work must be respected at all times in order to preserve authenticity.
This rare expertise in restoring horological art can be traced back to the passion and skills of the company’s founder, Michel Parmigiani. Born in Couvet, just 5.5 km from Fleurier, Michel studied watchmaking in La Chaux-de-Fonds before choosing to specialise in timepiece restoration. It was a shrewd move as the watch industry at the time was in the midst of the so-called ‘quartz crisis’, an era when battery-powered watches were thought to be the future. Thankfully, mechanical watchmaking eventually enjoyed a renaissance and, once again, Michel’s timing was perfect. He founded his eponymous Maison in 1996 and, with the support of the Sandoz Family Foundation, built the company into a maker of highly desirable watches, crafted with much in-house expertise.
Over the years, I have interviewed many industry professionals, Michel Parmigiani included; however, what sets Michel apart from others is his understanding of restorations and how some of the techniques and materials used in the past can significantly influence the longevity of a clock or watch. Indeed, I still recall chatting to Michel in 2017 and him saying, “I want my watches to be restored in 500 years’ time”. It is this philosophy that is manifest with each PF branded product today.
Guido Terreni joins the Maison in 2021
Guido Terreni was appointed CEO of Parmigiani Fleurier in January 2021. A veteran of the watch industry, he clearly had a long-term vision for the brand. Within days of arriving at the company’s HQ, he set in place strategies for branding and new product development.
In August 2021, just seven months after his arrival, Terreni unveiled a new range of models, namely the Tonda PF collection. Initially, this array of references included a chronograph (with date), annual calendar, a two-hander incorporating a date indication (powered by a micro-rotor) and, lastly, a rattrapante featuring a platinum dial, case and bracelet. The company’s lengthy name was simplified to just ‘PF’; succinct and reserved. Both the branding on the watches and the overall designs subscribed to Terreni’s predilection for discreet branding and timeless elegance.
Personally, Terreni’s approach resonates with me. Indeed, I struggle to understand the wisdom of cladding one’s body with overt branding and effectively paying for the privilege of being a walking billboard. It is my belief that ‘luxury’ is where considered design, fine materials and no-compromise execution seamlessly unite.
Terreni’s inaugural collection was warmly received and, no doubt, buoyed by its success, the Maison went on to unveil further models at Watches & Wonders 2022. These new models included a flying tourbillon, a skeleton model with a ‘Milano Blue’ dial and a ‘GMT rattrapante’. This latter watch proved the perfect travel companion for frequent flyers, allowing the wearer to tuck the third hand away when not in use to leave a clean, uncluttered dialscape. The Tonda PF GMT Rattrapante wonderfully showcased the brand’s creativity and has since received many favourable comments in the watch press.
Popularity for the Tonda PF shows no signs of waning; however, Parmigiani Fleurier has not rested on its laurels and has since released the new Toric collection, sports watches and ‘cultural calendar watches’.
Parmigiani Fleurier at Watches & Wonders 2025 – product highlights
At Watches & Wonders 2025, the brand presented its novelties, citing the sartorial world as a source of inspiration. Moreover, the company has once again embraced eye-catching colours, new case materials and introduced new case sizes. Without further ado, I will provide an overview of the brand’s many highlights.
Parmigiani Fleurier at Watches & Wonders 2025 – Tonda PF Chronograph No Date 40 mm
Should you read various magazines and websites, discussions about case dimensions dominate the conversation with some commentators talking about the optimum case diameter. Personally, it’s my belief that case proportions and wrist-fit are more relevant.
The aforementioned Tonda PF Chronograph, released in 2021, featured a date aperture at 4 o’clock. It had a case diameter of 42 mm and a thickness of 12.4 mm. Now, the brand has unveiled the Tonda PF Chronograph No Date 40 mm. Housed in a stainless steel case with a platinum knurled bezel, the diameter is 2 mm smaller and the thickness is just a smidgen greater (12.72 mm). The resultant dimensions may be smaller, but the watch continues to feature the same sublime fully integrated 5Hz movement, the Calibre PF070. This COSC certified powerhouse, includes a column-wheel and vertical coupling system, a specification much loved by purists. The smaller diameter will suit a larger cross-section of society, including female wrists; a factor that makes much commercial sense.
Personally, there are two reasons why this new model would be my preferred Tonda PF chrono reference to date. Firstly, removing the date display imbues the dial with a more harmonious mien and, secondly, the new ‘Mineral Blue’ dial hue is simply exquisite.
Parmigiani Fleurier at Watches & Wonders 2025 – Tonda PF Skeleton Stainless Steel Slate Green
In 2022, Parmigiani Fleurier released two skeleton models, one housed in 18-carat rose gold and a second in stainless steel with a platinum knurled bezel. Both models featured a graphite grey openworked dial. Two years later, in 2024, the model was presented in platinum, paired with a Milano blue dial. This year, the Maison has released a new version uniting its stainless steel case with a new ‘Slate Green’ dial.
The design of the skeleton’s openworked dial appears architectural with its arcs and lines providing torsional rigidity while simultaneously revealing glimpses of movement parts at work. The links to architecture also extend to the use of colour, with Parmigiani Fleurier finding inspiration in the work of Le Corbusier aka Charles-Édouard Jeanneret.
Le Corbusier, a son of La Chaux-de Fonds, was an architect, painter, designer and a leading light in the world of urban planning. He was also famous for conceiving ’63 architectural colours’, a colour system said to have ‘historical, artistic and associative background’, something the watch marque repeatedly employs.
Parmigiani Fleurier at Watches & Wonders 2025 – L’Armoriale Répétition Minute Mystérieuse
The Swiss firm unveiled two new additions to its Objets d’Art collection endowed with one of the most technically challenging complications, the minute repeater. The beauty of the intricately patterned dial is accentuated with multiple layers of Grand Feu enamel, executed in two hues, ‘Dawn Rose’ or ‘Midnight Fjord’. Subscribing to the brand’s philosophy of discreet luxury, the front of the watch is purely decorative, relying on sound alone to indicate time. However, if you remove the watch from the wrist, you will discover the prevailing time is shown at the rear of case with the letters ‘H’ and ‘M’.
Parmigiani Fleurier at Watches & Wonders 2025 – Tonda PF GMT Rattrapante Stainless Steel Verzasca
Guido Terreni and his team have revisited, arguably one of its innovative models of recent years, the GMT rattrapante (see earlier). On this occasion, the brand sets aside the Milano Blue dialscape of the 2022 release, instead embracing a verdant-hued horological vista. The name and hue were inspired by the Verzasca River in Ticino. I adored the inaugural model, but having worn the new Verzasca variant, I would opt for it every time; the dial colour is simply stunning.
This brings me to another facet of PF, the models crafted during the reign of Terreni respect what has gone before. Rather than abandon styles every two or three years, Terreni introduces new variants with/without dates or possibly executed in a new dial hue, while still remaining true to the original concept. This approach respects existing owners by sidestepping obsolescence, ensuring cherished timepiece don’t suddenly appear passé with the advent of a new reference.
Parmigiani Fleurier at Watches & Wonders 2025 – Tonda PF Sport Chronograph Ultra-Cermet
Interestingly, most ceramic used for making watches originates from Korea. In this instance, Parmigiani Fleurier has used Ultra-Cermet, a case material formed of ceramic in combination with titanium, imbuing the case with a unique aesthetic. Available in a choice of two dial hues, Milano Blue or London Grey, the accompanying 42.5 mm case has a metallic appearance and is imbued with a combination of finishes.
Once again, purists are indulged with 5 Hz movements endowed with a column-wheel and vertical coupling pairing and come with the independent assurance of COSC certification.
Parmigiani Fleurier at Watches & Wonders 2025 – Toric Quantieme Perpetuel
In my opinion, despite witnessing PF unveil several highly desirable models, the Toric Quantieme Perpetuel was the star of the show. Featuring a perpetual calendar, the hand-wound movement has the mechanical intelligence to recognise the number of days in each month and, when required, advance to ‘1’ accordingly. The complication even takes into account leap years and, assuming the watch is kept wound, it will not require manual correction until 2100. So far, so perpetual calendar.
Where this model stands out from its contemporaries is with its genteel arrangement of dial indications and its clean appearance. Moreover, the judicious use of colour and the ultra-refined execution of the 18-carat rose gold bridges and mainplate, serve to heighten the sense of luxury. I intend to review this model in further detail in the coming months but save to say its magnificence is discernible within moments of making its acquaintance.
The Toric Quantieme Perpetuel is offered in a choice of two variants, 18-carat rose gold or platinum. Courtesy of its blissful marriage of morning blue and silvery hues, the latter model has now joined my lengthy ‘own before I die list’.
Parmigiani Fleurier at Watches & Wonders 2025 – in conversation with Guido Terreni
After attending the brand’s press briefing, I was invited to meet Guido Terreni and learn more about the new releases. Based on past experience, I knew our chat would prove interesting and would allow me to glean useful information about the brand and its latest creations.
Angus Davies (AD): Can I begin my talking about colour? How do you select colours? For example, how many Pantone swatches do you look at before arriving at a colour?
Guido Terreni (GT): First of all, it’s funny because at Watches & Wonders, the colours have been a topic of discussion, and it seems like everybody is talking about the palette we have employed this year.
In reality, we’ve been working creatively with colour since day one. You will see this approach across our collections. For example, Golden Sienna last year and Ceylon Grey. We are are now building up a palette which is very coherent and very consistent. It goes along with the philosophy of the brand. We are a discreet brand, never flashy, never bold, never loud.
Our colours are subtle. They also interact with the light in a lively way. Take the Golden Sienna. If you look at it under a clear blue sky on a sunny day, you will see more salmon on that side of that dial (points to a watch dial). But on a cloudy day you will see more of the salmon on the other side of that dial. In fact, in the Middle East they call it the desert colour. We all have our own interpretation of colour. We want to be serene and live in a non-aggressive world. Everybody is seeking peace and tranquillity, looking for serenity and calm. And this is what we try to do.
The colours are always inspired by the palette of Le Corbusier. When you decorate your house, you must choose colours that are there to stay. And if you look at that palette in 1931, the design has never dated, something that testifies that these colours endure despite the passage of time. It’s not that we literally take the colours from that. It’s like a mood board of inspiration and then we start selecting and deciding what colour we want.
So, if you think of a product meeting, you will see something like this (Guido shows an image on his phone). I took a picture because it will help you understand. If you print on a piece of paper the watch and you have the Pantone chart, you begin with going through different major colours. And then you start looking at the nuances of green, blue, red and then you say okay let’s select and see a couple of prototypes of this colour on a sample brass disc. Then you try to work with different finishes such as sandblasted or grained. Chemicals may be used as part of the process. You may look at guilloché and assess how the light reflects differently, and then you select and look for a colour which you haven’t yet seen on the model. After the galvanic treatment, a sample sometimes does not come out as expected. For instance, this dial colour was a mistake (points to an image of a dial), but we liked it and then we had to try and repeat the mistake!
Angus Davies (AD): Can you tell me a bit more about Ultra-Cermet?
Guido Terreni (GT): Until recently the material didn’t exist. A professor at Seoul University developed the formula and patented it. The supplier of the material in Korea and our case supplier have worked together to create this beautiful case (points to the London Grey version of the new Tonda PF Sport Chronograph). The colour is unprecedented, exhibiting a shade of grey that is much lighter than others.
The colour of the case reflects light in a fascinating way. If you’re under a blue sky you will see a blue case. Where it’s polished, the case evinces a metallic lustre which Cermet doesn’t usually have. Also, nobody has ever managed to do a full case in Cermet, up until now. To realise the design of the watch is extremely complicated. You need 14 different parts that must be assembled to make one complete case. It takes one day for one watchmaker to do the full case assembly. There are a total of 72 components. It’s a nightmare. It took three years of development to get to that point.
AD: Can we just talk a little about my favourite PF novelty this year, the Toric Quantieme Perpetual. Firstly, can you tell me a little a bit about the dial’s appearance? Is it frosted in some way?
GT: The dial is 18-carat gold and features a hand-grained finish (grenage). Michel Parmigiani instructed a dial maker in the technique. It involves mixing salt, distilled water, cream of tartar and silver powder to form a paste. This mixture is then applied to the dial’s surface using a series of brushes (of varying coarseness), hand pressure and motion to create the resultant grained appearance. The thicker the brush hair is, the smaller the grain. As we don’t like invasive backgrounds, we went for a small grain.
AD: The movement within the Toric Quantieme Perpetual, the Calibre PF733, is formed of gold. This will be incredibly difficult for your watchmakers to work with because it’s so soft. In fact, I only know of you and F.P. Journe who use the metal for movements. Can you tell me a little more about it?
GT: You’re correct, for a movement maker, gold is a challenging material to work with. However, Vaucher (a movement specialist that is part of the PF family) agreed to make the movement in gold. For them, it requires a completely different approach: different machines, different ways of finishing, etc.
It is not a big series of movements for them, we’re only talking about a few hundred pieces a year, so we’re delighted they have managed to fulfil our expectations.
Closing remarks
After, I turned off my voice recorder, we made small talk and walked towards the door, at which point I casually remarked to Guido, “When it comes to new products, you’re probably thinking about three years in advance, may be longer. How far in advance do you think when it comes to product development?” He instantly replied, “We have developments up to 2031.”
On reflection, I should not have been surprised as clearly Guido and his team know where they intend to take the brand and, based on the evidence, have the necessary skills to make it happen. As for my longstanding fondness for Parmigiani Fleurier, well that’s now reached new heights.