With Watch Sales Down, Brands Hope for a Trade Show Boost
A Watch Chief Executive Who Wasn’t the Obvious Choice
April 8, 2024The Watch Brand SpaceOne Debuts Its Second Timepiece
April 8, 2024This post was originally published on this site
Organizers say the 2023 Watches and Wonders Geneva had a global reach of 700 million. Many in the industry hope for that kind of interest this year, too.
The largest luxury watch fair in Switzerland opens April 9 — just as the Swiss watch industry appears to be entering a slowdown.
More than 45,000 visitors are expected to visit Watches and Wonders Geneva and its 54 exhibiting watch brands before the show closes April 15, just weeks after the Federation of the Swiss Watch Industry announced that watch export values had fallen for the first time in two years, following a period of record revenues.
Exhibitors said the show’s timing couldn’t be better.
“In the market context, which is not as positive as last year, it’s a good opportunity to relaunch the momentum for some brands,” said Laurent Dordet, chief executive of Hermès’s watchmaking division, which is to exhibit at the show.
Rolf Studer, co-chief executive of Oris watches, another exhibitor, agreed. “We have a lot of challenges in the market and in the world and therefore also in our industry,” he said. “So to meet up and see others in person is very important.”
The federation’s data indicated that exports of Swiss watches in February had declined by 3.8 percent by value and 5.2 percent by volume compared with the same month last year. The fall was accelerated by an underperforming Chinese market, which registered a drop of 25.4 percent in export values year over year. And Hong Kong, which the federation tracks individually, was down 19 percent.
