One of the major annual gatherings of luxury watchmakers, the trade fair was canceled last year due to a pandemic, but is virtually underway this year.
Salon International de la Auto Oruro Julie is now being restyled as Watch and Wonders and includes major brands such as Rolex, Patek Philippe and Cartier.
At the Great Watchmaking Fair, brands unveil new products through online conferences and presentations.
Emmanuel Perrin, interim chairman of the Foundation High Horology, which hosts the event, said it was important for the watch industry to maintain a salon, calling it “Our Fashion Week, Our Davos.”
“It was an economically difficult year for the industry as a whole in terms of business,” Perrin said in his opening remarks, stressing that holding an exposition online is “the right thing to do.”
Expert discussions livestreamed on the platform will include discussions about the permanent consequences of the pandemic, the role of new materials and technologies, and the potential impact of blockchain on watchmaking.
File Photo on September 30, 2015: Hugh Jackman attends a Montblanc press conference during the Watches and Wonders 2015 exhibition at the Hong Kong Convention and Exhibition Center in the Wan Chai district.
The watch industry is Switzerland’s third largest export sector. The Covid-19 crisis has been devastating, with boutiques closed due to restrictions to control the spread of the virus and the collapse of the tourism industry on which the luxury sector depends.
According to the statistics of the Watchmaking Federation, exports of Swiss watches in 2020 were CHF 17 billion ($ 18.6 billion, € 15.8 billion), down 21.8% from the previous year.
Exports plummeted 81.3% in April 2020 and then gradually recovered after August.
China is the only growing market among the major destinations of Swiss watchmakers, with exports increasing by 20%, but Chinese consumer purchases have shifted to local stores due to travel restrictions.
The online version of the Salon, which runs until April 13, features 38 different brands, while Europe struggles to curb the pandemic.
There will be 19 brands in the physical version in Shanghai from April 14th to 18th.
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Rolex: Digitization: Virtually exhibiting Rolex, Patek Philippe and Cartier watches at the Geneva Luxury Watch Expo
Source link Rolex: Digitization: Virtually exhibiting Rolex, Patek Philippe and Cartier watches at the Geneva Luxury Watch Expo