Horological entrepreneur Ming Thein has managed something all small brands strive for, encapsulated in the somewhat cliched term allure. Through his open and approachable personality, he has nurtured collectors’ short attention spans and fickle desires while expanding the Ming range during a challenging year, and 2025 looks to be even stronger.

Last year, Ming opened a new Swiss manufacturing facility, allowing for vertical production, debuting the 37.02 Minimalist as the first watch from the new atelier. The brand also made this minimalist fave accessible without pre-orders, while the dive-ready 37.09 Bluefin capped the year by nabbing a coveted GPHG award. By achieving this in such a challenging year, Ming Thein has set the bar pretty damn high for the brand, with a lot weighing on the first releases of 2025. The brand does not disappoint, and Project 21 might even reset our expectations again.

Introducing ‘Project 21’

While the 37.02 is a superb piece of everyday cool that I have on my own list for this year, there is another curated side to Ming. This space is where watches like the 37.04 Rose Gold with its Comblemine guilloche dial reside. On their home page, these watches are tagged with the enigmatic Special Projects Cave, offering an elevated, crafted take on the minimalism we know. The ‘Project 21’ is a limited, 15-piece edition with a price tag ten times the 37.02 for a reason. At CHF 32,500, Project 21 is a collaborative effort that sits on the brand’s top tier with a haute take on Ming Thein’s refined and recognisable watchmaking.

Ming 21.02 ‘Project 21’. Image: ©Revolution

Project 21 started not in Ming Thein’s creative mind but at a dinner in Singapore for Ming collectors, where he was posed a challenging question: If Ming Thein could design a watch for himself without constraints on size, materials or an existing movement, what would emerge? And if viable, could this be made available as a limited edition to the collectors present? The result was Project 21, which was produced as a Souscription release for the ten collectors after a lengthy design process. Today, we are looking at a 15-piece publicly available continuation with a brand new dial, including a legendary movement with a very thin, transformed personality.

Refreshing The Frederic Piguet Caliber 21

Some of you with a sharp eye will already have surmised where the 21 comes from, namely the iconic (and I don’t use that word lightly) Frederic Piguet caliber 21. This is a significant caliber, which at just 1.75mm held records as one of the thinnest movements ever made from its introduction in 1925 (exactly 100 years ago). Until Piguet was integrated into the Swatch Group, it and its derivatives were used by Patek Philippe, Audemars Piguet, Vacheron Constantin, Jaeger-LeCoultre Blancpain, Cartier, and many others. In fact, it has long been a caliber, and Ming Thein wanted to create a watch around it using re-engineered vintage movements.

Frederic Piguet caliber 21. Image: ©Revolution

Ming says: “My take on the Frederic Piguet cal. 21 involves completely reworking the vintage movements with new bridges, including one in titanium that was color-matched to the dial, skeletonized to show off the gear train, and has jewels set in chatons. We partnered with TitAl SA and Mathis Horlogerie for these extensive changes. All other bridges carry polished anglage and fine sablage, in a nod to the finishing used on our other movements.”

Ming’s take on the Frederic Piguet cal. 21 involves completely reworking the vintage movements with new bridges including one in titanium that is color-matched to the dial, and skeletonized to show off the gear train. Image: ©Revolution

All other bridges carry polished anglage and fine sablage. Image: ©Revolution

Ming 21.02 ‘Project 21’. Image: ©Revolution

The case of the 35mm Project 21 came to life through the exploits of the Alternative Horological Alliance, with US-based Josh Shapiro entrusted with the challenging monobloc tantalum creation. The case has three contrasting finishes: a mirror-like polish on the rehaut, contrasting with circular brushing on the concave bezel that flows into the lug tops and sandblasted around the smooth-flowing flanks. The recognisable lines of a Ming are all present, like the flowing case shape and flared lugs. But the details are distilled, even muted, letting the dial and movement do the talking. And their language is as eloquent as the 6.9mm thickness is lithe.

Ming 21.02 ‘Project 21’ features a solid tantalum case with no separate bezel. Image: ©Revolution

The dial side is equally special, with your eyes drawn to the 5N rose gold of the delicate surface pattern. Despite being ultra-slim, there are two dials: the first features a multilayered straked pattern constrained within a fused borosilicate layer produced by Ming’s tech-strong partner, FEMTOprint. It is suspended over a CVD-coated brass plate of a 400-micron thickness, which has milling that echoes the strake pattern above. As we’ve seen before, the indices are etched into the AR-treated crystal, with the skeletonised hands exhibiting polished, angled flanks. With its pure, dressy nature and thin construction, the timepiece is bereft of luminous material, making Project 21 a rare Ming without an evening glow.

Project 21 has two dials: the first features a multilayered pattern of strakes constrained within a fused borosilicate layer by FEMTOprint. Image: ©Revolution

In conclusion, I will add this quote from Ming Thein, which neatly bookends the story of Project 21: “I have always sought balance in design, and Project 21 is perhaps the most finely tuned expression of that to date. It is visually thin and refined, yet tactilely robust and hefty; it looks small but wears larger; it appears vintage yet has thoroughly modern design codes and forms that are only possible with current technology.” Quite.

Explore ‘Project 21’ at Horologer Ming.

Tech Specs: Ming 21.02 ‘Project 21’

Image: ©Revolution

Movement: Manual-winding Frederic Piguet Cal. 21; 38-hour power reserve
Functions: Hours and minutes
Case: 35mm × 6.9mm; tantalum; water-resistant to 50m
Dial: Femtoprint-fused borosilicate with voids over CVD brass
Strap: Calf leather strap by Jean Rousseau Paris
Price: CHF 32,500 with 30% deposit on confirmation and balance before delivery
Availability: Limited to 15 pieces