Masters in Business: Wilhelm Schmid, CEO of A. Lange & Söhne

Date: November 28, 2025
Host: Barry Ritholtz (Bloomberg)
Guest: Wilhelm Schmid, CEO of A. Lange & Söhne
Event: Newport Audrain Concours d’Elegance

Episode Overview

In this special live episode from the prestigious Newport Audrain Concours d’Elegance, Barry Ritholtz sits down with Wilhelm Schmid, CEO of the revered German watchmaker A. Lange & Söhne. Their wide-ranging conversation explores the intersection of classic cars and fine timepieces, the unique identity of German watchmaking, design innovation, collector culture, and steering tradition into the future while remaining a “secret” among connoisseurs.

Key Topics & Insights

1. The Parallels Between Cars and Watches

• Connection of Heritage & Craftsmanship

  • Both classic cars and fine mechanical watches emphasize beauty, heritage, craftsmanship, and purposeful design.
  • Quote:
    “If you look at these cars, let's start with the cars and look at the word concourse of elegance. So we're not in vintage cars or racing. It's about ... beauty, it's about heritage, it's about craftsmanship, it's about design. And if you look onto the pillars on which our brand rests, it is exactly ... history, heritage, design, and ... craftsmanship.”
    — Wilhelm Schmid, 02:36

• Design Lessons from Cars

  • Timelessness in design comes from clarity of purpose and not compromising on the guiding vision.

  • “If you look at these cars ... they still fascinate us. So obviously that design survived all the different fashion, change of taste, odds of time.”
    — Wilhelm Schmid, 04:24

  • Purposeful Design

    • “If you start making big compromises, you end up with something which is ... a little bit of everything, but nothing particularly really good. So I think that's what you can take from cars into watches: identify the purpose and then everything should direct to achieve that ... North Star.”
      — Wilhelm Schmid, 04:24

2. Collecting & Client Relationships

• Schmid is deeply involved with collectors and clients, using events like this to connect directly.

  • “I would say 90%. ... I'm out there and talking to our customers. ... This is paid by our customers.”
    — Wilhelm Schmid, 09:22

• Enchantment Through Innovation

  • Lange strives to “surprise, inspire and enchant our clients with unprecedented imagination and ingenuity.”
  • The way to achieve this is by adhering strictly to brand discipline and only innovating within those guardrails.
  • Quote:
    “The moment you do things that are not in line with who you are, you may surprise people, but probably not positively and for sure eventually will dilute your brand equity.”
    — Wilhelm Schmid, 09:57

3. Technical Innovations & Out-of-the-Box Thinking

• Tourbillon Stop Mechanism Example

  • Lange engineered the first mechanism to stop the tourbillon for accurate time-setting—a core example of traditional foundations with innovative thinking.
  • “We were the first in 2009 to come up with a mechanism that makes the tourbillon stop. ... The second hand comes to a stop and you can adjust the time properly.”
    — Wilhelm Schmid, 11:12

• Emphasis on Functional Design

  • Chronograph minute hands that jump for clarity, not glide, because “little things ... mean the world for our customers.”
    — Wilhelm Schmid, 12:59

4. The German Watchmaking Identity vs. Swiss Dominance

• Schmid contends that the “Swiss” or “German” tag is not definitional, especially at the high end.
  • “There is no Swiss watchmaking and there's no German watchmaking. ... Our chocolate is craftsmanship, history and design. And we stay very strict to it.”
    — Wilhelm Schmid, 13:31

5. Production Philosophy: Quality Over Quantity

• Every watch is assembled twice: first for function, then disassembled for decoration, then reassembled to ensure perfection.

  • “Not because we can't get it right first time ... but to maintain a statical and technical perfection ... it goes back to the watchmaker, he or she will disassemble it, clean it, put in the final decoration.”
    — Wilhelm Schmid, 14:38

• Limited Editions and Wait Times

  • Production scale is dictated by the painstaking manual process and customer willingness to wait.
  • Example: minute repeater perpetual calendar—only 50 pieces over 3–4 years.
  • “To come up now with this sort of capacity and say we produce 100, means the last one we'll get to watch in eight years. ... That doesn't make any sense.”
    — Wilhelm Schmid, 16:28

6. Product Development — The Odysseus Example

• Timeline from concept to boutique can be seven years or more. The Odysseus, a sport-luxury line, was in development for over two decades in some sense.

  • “Odysseus ... took us 25 years, basically ... the real process ... always good. Seven years [from prototype to launch].”
    — Wilhelm Schmid, 22:41

• Innovation in Chronograph Mechanics

  • Odysseus chronograph features both the minute and second hands on the central axis, requiring unique mechanical solutions.
    • “If you reset it, the minute hand will do as many turns as the second. ... Basically if you have stopped 17 minutes and ... 30 seconds ... that's seven times going around to come to zero.”
      — Wilhelm Schmid, 21:42

7. “Entry Level” at Lange: No Compromise in Quality

• Even simpler watches like the Saxonia Thin are crafted to the same standard as million-euro pieces.
  • “We do not distinguish in quality at all. ... Emphasis on loft of detail, craftsmanship, hand polishing, decoration, hand engraving, there is no difference.”
    — Wilhelm Schmid, 24:19

8. Staying Authentic and Exclusive

• Lange’s appeal lies in remaining a “secret.”

  • “In the wide world, we are still absolutely unknown, and I think that's a good place to be. ... In today's world, you don't want to show off too much. ... If you know, you know.”
    — Wilhelm Schmid, 30:15–31:30

• “The real challenge is to share the secret with ... the right crowd of people ... so we need to make sure that the next generation knows what we do and we stay relevant for this.”
  — Wilhelm Schmid, 31:30

9. Younger Collectors and the Future

• Surprisingly, Lange has a youthful clientele.

  • “[Watches] that are quality, longevity, classless and timeless design, robustness, value creation—I mean, it doesn't matter whether you are 100 years old or 10, if you're into that, you're going to like it.”
    — Wilhelm Schmid, 32:24

• The world of watches is more accessible to a new generation via digital information and community, but the “moment of truth” is still trying it on.

  • “I just say the natural habitat of a wrist watch is the wrist.”
    — Wilhelm Schmid, 33:43

Notable Quotes & Memorable Moments

• Purposeful Design:
  “You have to identify what is it that you emphasize on and then don't compromise too much on it ... that's what you can take from cars into watches.” — Wilhelm Schmid, 04:24

• On Double Assembly:
  “Not because we can't get it right the first time ... to maintain a statical and technical perfection, you first have to make sure your movement is absolutely up to scratch.” — Wilhelm Schmid, 14:38

• Secret Brand Philosophy:
  “In the wide world, we are still absolutely unknown, and I think that's a good place to be ... In today's world, you don't want to show off too much.” — Wilhelm Schmid, 30:15

• On Chronograph Ingenuity:
  “If you reset it, the minute hand will do as many turns as the second. ... It's geared together, you know, because it comes out of the chimney strictly.” — Wilhelm Schmid, 21:42–22:18

• No Quality Compromise:
  “We do not distinguish in quality at all ... regardless, million dollars or entry level.” — Wilhelm Schmid, 24:19

• Future Surprises:
  “But if I now share secrets, there’s no surprise. And that's the one thing: people love surprises. But I can share with you as much as this is not the last surprise for this year.”
  — Wilhelm Schmid, 34:43

Timestamps for Key Segments

• [02:36] Parallels between cars and watches—heritage and design
• [09:22] Schmid’s time spent with collectors and clients
• [11:12] Tourbillon innovation and “out-of-the-box” technical thinking
• [13:31] German vs. Swiss watchmaking—brand ethos
• [14:38] Why every Lange is assembled twice
• [16:28] The logic behind limited editions and client wait times
• [20:26] Product evolution: the path of Odysseus and its unique chronograph
• [24:19] No compromise in finishing between entry-level and high-complication Lange watches
• [29:58] Lange as a collector’s “secret”—and why that’s deliberate
• [32:24] Youthful client base and the digital age of watch collecting
• [34:43] Hint about upcoming surprises for 2025

Conclusion

This conversation provides a rare, candid glimpse into the philosophy and practices that make A. Lange & Söhne exceptional in the world of horology. Wilhelm Schmid's blend of technical insight, reverence for tradition, and enthusiasm for innovation makes it clear why Lange continues to enchant collectors—as much for its discretion and rigor as for its peerless, handcrafted watches.

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