Jeweler's Eye-popping Watch is Love Letter to Albania

The timepiece, worth roughly $1.4 million, is set to face off against the best watches from across the world at the Geneva Watchmaking Grand Prix in November. ADNAN BECI / AFP
The timepiece, worth roughly $1.4 million, is set to face off against the best watches from across the world at the Geneva Watchmaking Grand Prix in November. ADNAN BECI / AFP
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Jeweler's Eye-popping Watch is Love Letter to Albania

The timepiece, worth roughly $1.4 million, is set to face off against the best watches from across the world at the Geneva Watchmaking Grand Prix in November. ADNAN BECI / AFP
The timepiece, worth roughly $1.4 million, is set to face off against the best watches from across the world at the Geneva Watchmaking Grand Prix in November. ADNAN BECI / AFP

Albanian jeweler Pirro Ruco labored day and night for five years to capture the essence of his country in a spectacular luxury watch.
Now the timepiece, worth roughly $1.4 million, is set to face off against the best watches from across the world at the Geneva Watchmaking Grand Prix in November, AFP said.
Set under a sapphire dome, the hours are marked by 12 golden folk dancers -- each in different regional dress -- set on Murano glass, the minute and hour hands adorned with eagle talons in homage to Albania's national symbol.
Ruco's rollercoaster rise mirrors that of Albania, from poverty and isolation as the most closed communist regime in Europe, to rollicking capitalism.
Along the way the jeweler overcame jealousy, the secret police and being sent into internal exile to rise to the pinnacle of his profession.
It all began for Pirro -- as he is known in his homeland -- in 1985 when he was asked to make a medal in red and gold bearing the head of Enver Hoxha, the paranoid dictator who ruled the small Balkan nation with an iron fist for more than four decades.
"That saved me," he told AFP from his workshop tucked away in an alley in the capital Tirana.
The medals were awarded to the regime's most loyal supporters and later caught the eye of Hoxha's wife.
The turn of fortune saw thousands more produced and worn by communist cadres across Albania.
"All the congressional delegates had to wear it. I made a name for myself with it," he said. It also saved him from the textile mills where he had been sent because his family had been deemed "rebellious".
'Priceless'
All this, however, was nearly derailed by an anonymous letter sent to authorities accusing Pirro of working with foreign agents.
He was questioned by intelligence agents and his workshop raided.
Down but not out, he was able to bounce back after crafting a ring bearing the image of the late husband of a member of the communist politburo and in July 1990 won a prize for a piece featuring Albania's 15th-century national hero Skanderberg.
But the very next day history intervened. The regime began to crumble and the collapse of Albania's communist rule in 1991 was followed by years of violent tumult as the country transitioned to a free-market economy.
Amid the ups and downs, Pirro stayed busy designing pieces for officials and celebrities.
During a trip to Basel in Switzerland in 2016, something new caught his eye.
"I wanted to make a watch. It was my new dream," he told AFP.
For the next five years, Pirro said he focused on "doing something special, Albanian, and at the same time completely new and never before seen in the watch industry."
The new timepiece which he calls Primordial Passion was designed in collaboration with the Swiss watchmaker Agenhor.
"I never wanted to make jewelry, but art," the jeweler said.
"Sculptures, images of the country, pieces of culture... This watch is the culmination of all that, of this love for Albania," he added.
"It is more than just a watch. It combines the rich heritage of ancient Albanian culture with the notion of chronometry."
Pirro refuses to divulge the methods used to craft the watch, but remains hopeful the painstaking details will be recognized by the judges at the Grand Prix in Geneva.
Several collectors have already contacted him about buying the timepiece, he said, though it would be difficult to part with his creation.
"I set a price because I had to. But for me, it is priceless."



Sources: Shein Aims for London IPO by Mid-year

FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
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Sources: Shein Aims for London IPO by Mid-year

FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo
FILE PHOTO: A company logo for fashion brand Shein is seen on a pile of gift bags on its Christmas bus as part of a nationwide promotional tour in Liverpool, Britain, December 14, 2024. REUTERS/Phil Noble/File Photo

Online fast-fashion retailer Shein is aiming to list in London in the first half of the year, according to two sources with direct knowledge of the matter, assuming it gains regulatory approvals for the initial public offering.
The IPO could be completed as early as Easter, which is April 20, one of the people said.
A visit to China by Britain's finance minister Rachel Reeves starting on Saturday, during which she will meet with vice premier He Lifeng to discuss economic and financial cooperation, could help progress the regulatory approvals Shein needs, the source added.
A second person with knowledge of the matter said Shein, founded in China in 2012, is working towards listing in the first half of this year, but the definitive timeline is still in flux.
The London listing push comes after the company ended its attempt at a US IPO after pushback from lawmakers concerned about risks connected to China and alleged labor malpractices, Reuters reported.
The head of Britain's Financial Conduct Authority, which is in charge of assessing and approving flotations like Shein's IPO, is accompanying Reeves on the trip to Beijing and Shanghai and will meet with regulatory partners there.
Shein declined to comment, the FCA said it does not comment on potential listing applications, and Britain's finance ministry did not reply to Reuters' questions.
Even though it moved its headquarters from Nanjing to Singapore in 2022, Shein also requires permission from the China Securities Regulatory Commission, making it subject to offshore listing rules, as most of its 5,800 contract manufacturers are in China.
New rules passed by the CSRC in 2023 allow it to vet and potentially block offshore listings.
The CSRC did not immediately reply to questions about Britain's visit and Shein's IPO.
Shein is walking a political tightrope as it tries to show it has measures in place to limit the risk of human rights violations in its supply chain while avoiding any direct claims about China's Xinjiang province - a top cotton-producing region where the United States and NGOs have accused the government of forced labor and other abuses against Uyghur people.
Beijing denies any abuses, and Chinese authorities have hit back at clothing brands that say they don't use Xinjiang cotton.
Shein's general counsel for Europe, the Middle East and Africa, Yinan Zhu, on Tuesday declined to directly answer when asked by a British parliamentary committee whether the retailer's clothes contain cotton from China or Xinjiang, or whether it tells suppliers not to source from the province.
Zhu asked instead to provide the committee with written answers, and said Shein complies with relevant laws in all jurisdictions.