By  on April 13, 2009

BASEL, Switzerland — From redefining core values to scaling back collections or weeding out distributors, many players at the Baselworld watch and jewelry fair have pressed the reset button.

Rolex said it has closed several accounts since 2008, totaling millions of dollars in sales. Doug Meine, the firm’s executive vice president, said the industry’s struggles during the global recession triggered a “shaking out of the tree.” He described the house’s presentation as “somewhat low-key,” in tune with the climate.

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