French 18 carat gold open faced dress watch Circa 1930

Gold pocket dress watch
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A fine French 18K gold open faced keyless dress watch by LIP, circa 1930. This watch features a handwound mechanical movement with a lever escapement. The enamel dial displays Arabic numerals, railway minute divisions, red 24 hour numerals on the outer edge, a subsidiary seconds dial, and blued steel Cathedral hands. The smooth case is crafted from 18K yellow gold.
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Diameter: 47 mm.
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Weight: 75 g
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Signed: LIP
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The French watchmaker LIP was founded in 1867 in Besançon by Emmanuel Lipmann as a small workshop. The brand ‘Lip’ first appeared in 1896. Managed by his sons Ernest and Camille, it grew into a manufacturing company. The company developed luminescent materials and produced watches, including during WWI. After surviving the 1929 crisis, LIP became France’s largest watchmaker by 1933. It employed 360 staff and made 40,000 watches annually. LIP also produced pendulum clocks and developed wristwatch calibres, some of which were produced in collaboration with the USSR. World War II interrupted production. After the war, LIP resumed and created about 50,000 watches in 1945. In 1952, it announced an electronic watch, followed by prototypes and patents. The 1958 launch of the R.27 movement aimed to boost production, but factory underuse hindered growth, especially after 1967. The company shifted to cheaper Timex watches, sparking internal opposition. Ebauches SA acquired shares, but the restructuring failed. Fred Lip resigned in 1971, and a quartz movement was developed. By 1973, bankruptcy followed, and workers occupied the facilities to sell stock.