In late June, Peter Harrison, CEO of luxury watchmaker Richard Mille for EMEA, appeared at the Superyacht Cup in Palma de Mallorca as skipper of the Rainbow, a magnificent 40-meter sailboat competing in Class J, the historic category of large yachts in the America’s Cup that competed between 1930 and 1937 under the now-defunct Universal Rule. In fact, the Rainbow was the winning boat in the 1934 edition of the legendary regatta, representing the New York Yacht Club.
World War II led to the decline of this fabulous class of ships, and its original bronze and lead hull was dismantled in 1940 to supply metal to the U.S. war effort. However, sixty-two years later, in 2012, a replica was built based on the original blueprints. It was acquired by the Australian automotive entrepreneur of New Zealand origin, Neville Crichton, and passed from his hands, in early 2026, to Harrison, who already had plans to race it in the waters off Mallorca during the regatta when he decided that the Swiss watchmaker would sponsor the 30th edition of the Balearic competition and those of the next two years.
Although he didn’t win—he finished just two points behind the Swedish Svea in Class J—Peter Harrison granted us this interview, in which he discusses all aspects of his passion for sailing and Richard Mille’s immediate plans for Spain, including the imminent opening—in late September or early October—of the boutique that the Swiss brand will open at 10 Ortega y Gasset Street in Madrid —on the corner of Claudio Coello—where Tiffany & Co. used to be located.
The purchase of Rainbow came as a complete surprise to the boating community. But what is the connection between the brand and the boat?
Actually, I’m the owner of the boat. Sailing is my passion; I have several other boats, and I bought the Rainbow about a year ago. I’ve been sailing it myself in the regattas.
Before I owned it, it belonged to a New Zealand businessman named Neville Crichton, who raced it in Barcelona during the last America’s Cup. He invested heavily in the boat, adding a new mast, a new deck, and many other modifications.
Unfortunately, Neville got sick last year and called me to say he wasn’t sure he could keep racing with him, and he asked me if I’d be willing to do it. So I bought it from him and promised him I’d race with him here in Palma.
And when was the first time you haggled with Rainbow?
I’d already been out sailing before, in March, and then we did some training sessions in Palma de Mallorca in April. But yesterday was our first real race.
What’s the difference between racing and just sailing?
It’s completely different from any other kind of sailing I do. The Rainbow is a displacement yacht, so it doesn’t rise out of the water—it cuts through it. It’s a very different experience, but also a very beautiful one, and I wanted to really try to understand it.
This boat was built in 2012 based on the original plans for the yacht that was built in 1934 for Harold Vanderbilt, a member of the famous American family responsible for much of the development of the U.S. railroad system.
Why is it appealing for Richard Mille to sponsor the Superyacht Cup Palma?
Traditionally, as a brand, we’ve focused more on motorsports, largely because of Richard himself. But my passion is sailing. So I naturally lean more toward sailing events, while Richard prefers motorsports.
When they told me about this event, it seemed completely logical to me that we should be a part of it. It offers the perfect setting and platform for these boats to show off in such a spectacular setting. The scenery here in Palma de Mallorca is truly breathtaking. I was sent a photo taken yesterday during the regatta showing the two J-Class yachts, Rainbow and Svea, with the cathedral in the background, and as soon as I saw it, I forwarded it to all my children. In fact, my daughter got married here in Mallorca two years ago, and when she saw the photo, she said, “We have to frame it.” It’s one of the best sailing photos we’ve ever had.
There are only nine J-Class yachts in the world, and it’s almost impossible to see them all together. Could Richard Mille help bring the entire fleet together for a single regatta?
I’d love for that to happen. I’m not sure Richard Mille can pull it off on its own, but when you’re on one of these boats—whether you’re racing or just sailing—everyone stops to look. Everyone recognizes a J-Class; they’re an important part of sailing history.
We’ll certainly try to get all the boats together. The challenge is that there are nine different owners with nine different schedules, so it’s not easy.
The boats themselves are also very different from one another. The Shamrock V, for example, is still made of wood and isn’t as competitive in regattas today. But then you have boats like the Ranger, the Valsheda, and the Svea, which are very competitive.
The Hanuman, which is here in Palma, was actually bought by a friend of mine just a few weeks ago [he is referring to the Italian lawyer Giovanni Lombardi Stronati]. We were racing together in the United States in March and sailed alongside the Hanuman, which at the time was owned by an American. I told him it was the same type of boat as the Rainbow I had bought, and he replied instantly, “I have to buy it!” And, a month later…
As a brand, are you considering getting involved in more superyacht regattas in the future?
For ten years, we participated in a regatta in Saint Barth, in the Caribbean: Les Voiles de St Barth Richard Mille. We also have the Richard Mille Cup, featuring five classic yachts, which is currently taking place in Scotland. However, this is the first time we’ve been involved with the J-Class—and, in a way, with America’s Cup boats.
As I mentioned earlier, the original Rainbow was built to compete in the 1934 America’s Cup, which it won. Then, with the outbreak of war in 1939, it was eventually scrapped in 1940, and its materials were reused for the war effort.
Later, when the J-class was revived, these yachts began to be built again based on the original plans, so this boat retains the same character and appearance, but the technology is completely different. And that’s important to us, because we try to get involved in sports where technology and performance can be quantified. On the Rainbow, for example, the mast, boom, and sails are made of carbon fiber. In 1934, those components would have been made of much heavier materials, so today the boat weighs about 40 metric tons less than it did in 1934.
It’s very similar to what we do with our watches: performance is everything. If we can make a watch that’s more efficient, more accurate, lighter, and more durable, it becomes a kind of challenge for us. Take a look at the watch I’m wearing, for example [the RM 27-05 Flying Tourbillon Rafael Nadal]: it’s the latest one we developed for Nadal, and weight was a key factor in its design. This one weighs just 20 grams.
Why do you think Swiss watches are so internationally renowned?
Performance is always at the heart of how we design and manufacture our watches. The challenge is to constantly push ourselves further: to make them more efficient, more precise, lighter, and more durable. The RM 27-05 Manual Flying Tourbillon is a perfect example: it represents the evolution of our approach to both design and performance, engineered to withstand extreme G-forces while remaining exceptionally lightweight.
Ultimately, it all comes down to engineering—and in particular, microengineering—a field in which Swiss watchmaking has developed extraordinary expertise.
Watchmaking has a history dating back centuries, but we have never limited ourselves to seeking inspiration within the industry itself. Materials are a good example of this. From the very beginning, we have explored technologies and materials developed for entirely different fields, such as titanium, advanced alloys, and composites. They allow us to craft lighter and more durable watches, while also opening up new technical possibilities.
The case of this watch is made of Carbon TPT, produced by North Thin Ply Technology. This technology has its roots in high-performance sailing, where thin-ply composites were developed to create lighter, stronger, and more stable sails, so there’s a real connection between the material you see on your wrist and the world of sailing. In fact, the first block of Carbon TPT used by Richard Mille came from the mast of the Alinghi, winner of the 2003 America’s Cup.
Richard Mille is opening a boutique in Madrid. What are your expectations for the store? And how important is the Spanish market to the brand?
When we launched the company, some of our first major clients were in Spain. In those early years, we worked with three business partners in different parts of the country: Rabat in Barcelona, a gentleman in Zaragoza whose business has since closed, and another client in Madrid with close ties to the European Royal Family. Those relationships were crucial for establishing the brand and building our presence in Spain.
Madrid was a natural choice for the new boutique, especially since it is the capital. Of course, some companies choose Barcelona because of its strong commercial tradition, but for us, Madrid was the right place for this next step.
When did you come up with the idea of opening the store in Madrid? Before or after the boom in Latin American billionaires moving to Madrid?
More than ten years ago, when our business model began to shift toward wholly-owned boutiques, I already wanted to open one in Madrid. At that time, the challenge was finding the right location, which turned out to be more complicated than expected.
Rafael Nadal has also played an important role in the brand’s global success, so it was only natural for us to open a boutique in Spain at some point. I spoke with Rafa many times about where he thought it should be, and every time I asked for his opinion, his answer was immediate: Madrid.
Since you’re in Madrid… Do you have any plans to become sponsors of Real Madrid?
We used to work with Manchester City and Paris Saint-Germain, but over time we decided it was important not to align ourselves with any specific soccer club. Soccer inspires tremendous passion and loyalty, and we prefer to remain neutral within the sport.
There was also a practical reason. When we work with athletes, we want the partnership to go beyond simply associating a name with the brand. Whether in Formula 1, tennis, or another sport, our partners wear the watches while they compete. That allows us to see how they perform under real pressure and, above all, provides us with information that can contribute to their development.
Soccer is different in that regard. A player can’t compete while wearing a watch, so it’s much harder to create that same direct connection between the athlete, the product, and the athlete’s technical development.
How many watches do you have?
I probably have too many.
Can’t you give a rough estimate?
I’ve spent the last 40 years in the world of watchmaking, so it’s much more than just a business to me. It’s been a constant in my life. What I find interesting is how people’s relationship with watches has evolved. Today, a watch is one of those rare objects that can hold deep personal meaning. People choose a watch to commemorate a specific moment, to celebrate an achievement, or to symbolize an important stage in their lives.
Our clients’ profile has also changed. Forty years ago, wealth was more often passed down from one generation to the next. Today, we see many more people who have built their success on their own. Naturally, that changes their relationship with the things they buy. A watch can serve as a reminder of the hard work behind that success and of what they have achieved.
We see this especially among a younger generation of customers. They feel comfortable investing in something for themselves that is meaningful and reflects where they are in their lives. It’s a way to acknowledge their own success, but also something they can enjoy and share with those around them.
So, which one is your favorite?
The RM 004 has always been a special watch to me. We began developing it in 2002, several years before it hit the market. I’ve always loved its proportions and the way the movement sits inside the watch; it feels very balanced. From a technical standpoint, the split-seconds chronograph also makes it fascinating, given the complexity and engineering involved.
Let’s get back to sailing… I once interviewed Pier Luigi Loro Piana and asked him, “Have you rounded Cape Horn?” and he replied, “No. I sail for pleasure. I sail in Barbados, Virgin Gorda, Sardinia….” What kind of sailor are you?
PL [Pier Luigi] is a friend of mine, and one of the best sailors in terms of his dedication to the sport. I’ve only been doing this for about 25 years. When I was 20, I used to windsurf, so I’ve always loved that connection with the wind—even though my budget back then wasn’t the same as PL’s!
But what I like most about sailing is that, when I’m on the boat, I can’t think about anything else. When you’re at the helm of a boat like this, you have 33 crew members around you, all of them professionals. For them, it’s their job, and they expect me to do the best job possible, too; you have to be completely focused on sailing.
For this boat, I need four or five Class J specialists, but I sail with most of the rest of the crew on my other boats and at various events, so we know each other very well. That connection is important. It’s a bit like the relationship with a soccer coach: the way they talk to you and tell you, “Do this, do that, you have to move up, you have to move down.” You have to understand each other.
Golf and tennis are wonderful sports, but to me, they don’t require the same level of concentration. Sailing demands my full attention. A day like today gives me four hours during which I don’t think about anything else at all. It’s a way to escape.
But you haven’t answered me… Do you like the challenge of extreme conditions?
Yes. I’ve done a lot of extreme and offshore sailing, and I really enjoy it. Of course, I also like air conditioning, a comfortable bed, and good food. Here on the Rainbow, I have all that, but on some of my other boats, I don’t have any of it. This is really nice: sitting here with you in this beautiful salon, chatting. On my other boats, it’s not quite as comfortable. But I still enjoy it. And the longer I can keep doing this, the more alive I’ll probably feel. I love this kind of sailing.
How many days a year do you go sailing?
Probably more than I should! I’d say about 60 days a year.
Next year will be important because we’ll be defending the Admiral’s Cup. If we want to do well, we need to sail a lot together and become a solid team. Last time, when we won the Admiral’s Cup, we started training in March in the United Kingdom, in terrible weather. Even in the summer, the weather in the UK can be awful, but in March it’s really brutal! We’ll probably need between 30 and 40 days of sailing together as a team before the competition even starts—and that’s just on one type of boat.
So yes, probably about 60 days a year. But if you’re a professional sailor, you sail 250 days a year.
What is it about sailing that’s so special to you?
I love being connected to nature. Here in Palma, I was out sailing in March and had this big beanbag—we call it the “Fat Boy.” It’s like a huge cushion that I can place next to the helm, so I can sit there, steer the boat, and take in everything around me: you’ve got dolphins right beside you, and we even saw a whale. That connection with nature is incredible. When you’re sailing, there’s no engine. Everything is silent.
There’s another amazing thing that happens on some of my other racing boats, which are made of carbon. Down there, you’re basically sitting inside this carbon shell, which isn’t particularly comfortable, but when you talk, the dolphins can hear you through the hull. The carbon acts almost like a speaker, and the more you talk, the closer they get to the boat. It’s incredible!
Finally, how many boats do you have?
The answer is the same as before… I don’t know! As a family, I’d say we have about six or seven sailboats. My three daughters all compete in different classes, and Audrey, my partner, has also started competing. We all compete—or at least try to—but we’ve never actually competed against each other. That’s the next step.