Tokyo (SCCIJ) – The annual “Watches and Wonders” fair of luxury watches and jewelry has been held successfully in Geneva. From March 30 to April 5, 38 leading watch brands including Rolex, Patek Philippe, Cartier, Tag Heuer, and Grand Seiko from Japan showcased their new products to an audience of nearly 22,000 visitors, combined with a global digital reach of more than 300 million. A large demand for high-quality mechanical timepieces was driving this interest.
The “Watches and Wonders” fair in the Palexpo conference halls near Geneva Airport was held in person in spring 2022 (© FHH).
Industry gathering
The largest watchmaking summit ever held in Geneva was a “salon of many wonders” and exceeded all expectations, the organizer “Fondation de la Haute Horlogerie” said. A spirit of creativity and innovation was everywhere, with countless international launches, and a vast physical and digital offering, including panel discussions and keynotes that generated fruitful discussions and hundreds of millions of views on social media, the organization concluded.
“After two years of pandemic and 100% digital editions, it was important to be able to gather again the main actors of our industry,” Emmanuel Perrin, President of the Fondation de la Haute Horlogerie, said after the conclusion of the fair on Tuesday. “For the first in-person event under its new name, Watches and Wonders Geneva inaugurates the largest watchmaking salon ever organized in Geneva. We should see it as a symbol of a new era.”
Basel versus Geneva
The Baselworld Watch and Jewellery Show used to be the most relevant global trade show of the international watch, jewelry, and gem industry, organized each spring in the city of Basel, Switzerland. But the three annual events in 2020, 2021, and this year were canceled due to the COVID-19 pandemic. As a result, large exhibitors left.
Watches and Wonders, formerly Salon International de la Haute Horlogerie, was established in 1991 as a more exclusive trade show dedicated to fine watchmaking. It was mainly attended by the Richemont group, with such brands as Cartier, IWC, Vacheron Constantin, and Jaeger-LeCoultre, and took place two months ahead of Baselworld. This fair weathered the pandemic with digital and hybrid formats.
Leadership change
Industry observers attribute this year’s success to the fact that “Watches and Wonders” was able to integrate the market leader Rolex, as well as big brands and makers like Patek Philippe, Chopard, Oris, and the LVMH Group. They had pulled out of “Baselworld”, and some held a self-organized marketing event in April 2021. These makers may now continue to participate in the “Watches and Wonders” fair.
As a result, the Geneva event may replace the “Baselworld” as the world’s most important watch marketing event. Before the pandemic, many retailers made an annual trip to Switzerland during the fair season to select their orders for the year. With Watches and Wonders, Switzerland may continue to host the most important luxury watch fair worldwide. The country’s world-renowned watchmaking industry employs more than 57,000 people.
The sharply risen demand for high-end mechanical watches also caused strong interest in the Geneva fair. New customer groups have emerged, in particular young people, who invest their money in luxury watches as a form of a financial asset. In addition, the Geneva event benefitted from a certain catch-up effect: Some watchmaker had postponed the launch of some new products during the pandemic and waited until they could present them live again.
Text: Martin Fritz for SCCIJ
