Time Transformed

In today's booming luxury-watch market, it takes more than a pretty product to keep up with the industry's top players. Concord's new C1 (above) is the brand's impressive attempt to reclaim a spot in watchmaking's top tier. Over the course of its history—the company marks its 100th anniversary this year—Concord has produced timepieces for world leaders and, owing in part to its advancements with quartz watches in the 1970s, has been at the vanguard of engineering. But in recent years, public perception of the brand has veered toward the staid side of traditional. Keen to shed that reputation, Concord has taken a bold step, discontinuing production of every one of its many models, eschewing quartz and focusing all its efforts on the launch of the C1, a high-tech 44-mm chronograph with a 53-piece case. Says Concord's U.S. president, Alex Grinberg: "With the introduction of the C1, this is really what we stand for and what our true identity is. It's about being unexpected, modern and innovative." The C1's price, starting at $9,400, is a jump above the brand's old median, and smaller production runs and fewer outlets—just 2,000 pieces in 2008 and 25 dealers in the U.S.—are further signs of Concord's new direction. Down the road, expect a C2 and, for the deep-pocketed collector, limited-edition watches that will cost from $200,000 to $300,000.