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Articles from WATCHES (859 Articles), INDUSTRY ASSOCIATIONS (263 Articles)
Baselworld
Baselworld opened on positive note
Posted March 23, 2010 |
In a marked contrast to this time last year, Baselworld was abuzz with confidence. Although cautious, organisers said there were positive signs.
In an excellent sign, 1915 exhibitors from 45 countries appeared at Baselworld, and although at the time of writing the fair had not closed, organisers were also confident of maintaining visitor numbers.
The activity over the first two days of the event indicated that that could be achieved. Over 100,000 visitors usually attend the Baselworld and this year over 160,000 square metres of exhibition space was utilised.
Any statistical data of Baselworld requires further analysis because of the size and dominance of the Swiss watch brands. While the watch category only accounts for 31 per cent of exhibitors by number, it takes control of 62 per cent of floor space.
And this does not measure height, with many stands being three stories high!
Jewellery and related products accounts for 69 per cent of exhibitors by number, however that only represents 38 per cent of floor space being devoted to jewellery.
So gaining an accurate assessment of a representative industry sentiment – as a whole – is difficult because Swiss watches dominate every aspect of the fair, and Baselworld is, perhaps, the most internationally represented trade fair.
Over 27 per cent of exhibitors are from Asia with a small number being from the US. Business can be improving in one product category or country but not necessarily in another category or country.
So it was good news for Baselworld managing director, Sylvie Ritter, given the show has maintained its exhibitor numbers despite the economic downturn. There was a net loss of around 30 exhibitors with a couple of big names absent.
As always, the press day before the fair opening was well attended. Baselworld attracts over 3,000 registered media and many were expecting poor results being announced.
“Baselworld is fully booked. We have the same number of exhibitors as we had in 2009, and this has remained unchanged for several years,” announced Ritter at the media conference.
She called the 2009 economy “challenging”, but predicted 2010 would “reveal a revitalised industry”.
Exhibitors’ Committee President Jacques J. Duchêne was more cautious about the industry’s future.
“After several months of economic upturn, there are some positive signs. However we should not be overly confident, because the global economic situation is still highly precarious,” he said, adding: “We should not forget that many small businesses encountered severe difficulties and numerous highly qualified professionals lost their jobs.”
As there was last year there was lots of talk about “a return to traditional values” and “going back to basics”.
It was the same mantra this year, though, judging by some of the watch launches, some exhibitors were obviously not told: Chopard announced a model that is “more expensive than a new Bentley”!
Admittedly, Chopard is celebrating 150 years and during its press conference, Jose Carreras made an entrance.
But generally the luxury watchmakers have flagged a return to more understated, classic designs for the post-recession market.
Dior Horlogerie president Laurence Nicolas told AFP that “bling bling” was no longer fashionable. Dior’s new range is decidedly more understated, described by Nicolas as “dazzling but still elegant”.
François Thiébaud, head of Swiss brand Tissot, agreed, saying consumers had become less excessive than a few years ago, when the industry was at its peak.
“The Swiss watch industry is in line with the country. It’s a peaceful, happy country where people are not exuberant. If you can make watches according to this kind of need, this will respond to the demand of today,” he told Swiss news outlet SwissInfo.
Swiss watch imports are often taken as a barometer for the global sector. Last year exports dropped by over 22 per cent.
This year, however, they posted a small growth of 2.7 per cent.
Swatch has reported strong business figures with a 7 per cent increase for December last year and Hublot told AFP sales have been “exceptional” so far this year.
Baselworld organiser Jacques Duchene said consumers were now more careful with their purchases.
"Today, consumers certainly take more responsible and considered decisions that established and even highly reputable companies must respond to,” he said.
Duchene concluded with the prediction: “The years of extravagance are over.”
Baselworld, closes this Thursday (25 March), so Jeweller’s May issue will contain a full report with pictures of the latest releases.
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