Geneva was abuzz as the watch industry descended on the Swiss city on March 30 for a week of exceptional timepieces at the Watches and Wonder fair — and elsewhere in town, as brands like Gucci and Bulgari presented their latest designs in upscale locales.
“The excitement in Geneva over the last week was palpable,” said David Hurley, executive vice president of Watches of Switzerland Group USA. According to Win Betteridge, chief executive officer of Palm Beach boutique Greenleaf & Crosby, Swiss watch fairs had “become a part of the fabric of your life” to those who attended them over the years and therefore a highly anticipated moment, especially as the descendent of the SIHH show took pride of place on a calendar without Baselworld.
With expectations running high, the prevailing sentiment was that the fair delivered — in terms of timepieces, as well as ambiance — even as the war in Ukraine and resurgence of the COVID-19 epidemic in China left an imprint.
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Neiman Marcus’ vice president and general business manager, beauty and jewelry, Tatiana Birkelund deemed “the return to in person was spectacular,” as Roberto Chiapelloni, owner of fine jewelry and watch store Manfredi Jewels “felt especially welcomed and very pleased to be back.”
Here is why retailers found this return to a physical format an occasion not to be missed:
Roberto Chiappelloni, owner of Manfredi Jewels Greenwich and New Canaan, Conn.
Overall impression: I am very, very pleased with returning in person. The show was perfectly organized — transportation, speed of entry, coat check and security, timely appointments, delicious food and drinks. I felt especially welcomed and very pleased to be back. Meeting up with many of my friends in the industry was a great addition, filled with positive energy.
Best booth: The Rolex booth was the original booth from Baselworld but was expanded and updated to be by far the largest, most visitor-friendly that I experienced.
Top watches: Favorite design: Franck Muller slim titanium on bracelet. Innovations: Bulgari Octo Finissimo Ultra, Ulysse Nardin Freak S, Trilobe Une Folle Journée. Collector’s must-have: Laurent Ferrier Auto Sport 20t.
New talent: H. Moser and Frédéric Jouvenot
Budgets: We had an ample budget because all through the shutdown, my purchases over Zoom were minimal. I had no appreciation for how special a watch was or not, therefore I only ordered absolutely needed product.
Ordering behavior: We had no choice and at times had to order online to replenish inventory. Moving forward, I absolutely prefer seeing the product in person, getting a feel for it and ordering based on that.
What are your customers shopping for? My clients are shopping for features and benefits in each of the many brands we represent. Our clients are always interested to hear any new news regarding releases, innovations, etc. They are avid readers of watch publications, both print and digital, and enthusiastically visit my store, email or text my staff about whatever it is that grabbed their attention and stirred their passion for watches.
Your outlook for 2022: Despite the turbulent times affecting our world — war in Ukraine, inflation etc. — I feel there will continue to be a strong demand for the limited supply of timepieces available. The watch industry has captured the attention of many of those whose work allowed them to stay home and cruise the internet. With minimal to no travel taken, discovering and learning about this industry has soared to the forefront for many. I look forward to another banner year in 2022. It’s going to be especially rewarding for the micro brands I represent as they offer some of the most intriguing complications.
Tatiana Birkelund, vice president and general business manager, beauty and jewelry at Neiman Marcus
Overall impression: We were really impressed by this year’s edition, the return to in person was spectacular. It was good to see the industry back together again, and the creativity, innovation and passion were felt throughout the event. It was refreshing to be face-to-face with people and interact directly with the product. Overall, we thought it was a great show that was productive and inspiring.
Best booth: All the booths were phenomenal, and we applaud all of the maisons for their creativity. It’s hard to say just one. However, we found the immersive experience at Chopard particularly memorable. Once you entered the room, you were immersed in a 3D, virtual experience that took you inside their watch. We were enamored by their approach and even further impressed by their new product.
Top watches: The design evolution behind Chanel’s iconic watches was quite interesting, and we think our customers will respond well to the refreshed looks. Bulgari’s Octo Finissimo also caught our eye — the innovation behind creating a watch so thin and overall sleek design is something that we also think will intrigue our luxury customers. In terms of collectors’ must-haves, we anticipate Chanel’s Wanted capsule collection, Bulgari’s Serpenti high jewelry watches and Chopard’s gold link watch bracelet to be top sellers.
Budgets: Our budgets are flexible; they are based on demand and the merits of the product. Over the past few months we have seen our customers become increasingly interested in timepieces and are excited to curate the best for them and continue growing this area of our business.
Ordering behavior: We are looking forward with optimism this season, especially after seeing such exquisite and innovative new designs from this edition. It was great to be back in person this year and we look forward to returning next year.
What are your customers shopping for?: They are looking for memorable jewelry experiences, whether shopping for a gift or themselves. They are interested in brands and product stories that resonate personally, marking the moment as they define it for themselves. We are also seeing our customers shop for timepieces that are well made, contain precious metals and gems with sound, offer a long-term store of value, are sustainable, and can be passed from one generation to the next.
Your outlook for 2022: We continue to see our style advisers connect with customers in meaningful and authentic ways, bringing continued optimism to the balance of the year.
David Hurley, executive vice president of Watches of Switzerland Group USA
Overall impression: The excitement in Geneva over the last week was palpable. While the industry was able to adapt to physical limitations over the last few years, there is a level of camaraderie and appreciation for the craft of watchmaking that is heightened in person.
Best booth: It was exciting to see Watches and Wonders newcomers like Rolex, Patek Philippe and Chanel join the show, but it’s quite hard to pick a best booth because every brand presented their distinct point of view. I think the collective experience of having the pinnacle of watchmaking under one roof for the first time in years was the highlight.
Top watches: Some standouts for our team were the Rolex Air King, Patek’s Annual Calendar Travel Time, the Cartier Tank Chinoise in yellow gold, Tag Heuer’s Carrera Plasma and H. Moser’s Streamliner in Vantablack.
New talent: We offer an extensive range of independent brands including Ressence, Armin Strom, H. Moser and Speake-Marin, who all continued to push the boundaries of innovative watchmaking with their releases at this year’s Watches and Wonders Geneva.
Budgets: We arrived with preset budgets but expect that there will be some reallocations following the fair.
Ordering behavior: When dealing with such finessed craftsmanship, we always look to maintain a level of touch and feel and look forward to the continued in-person format.
What are your customers shopping for?: Our customers are looking for exceptionally unique timepieces that they can wear and enjoy for years to come.
Your outlook for 2022: Our industry has experienced exponential growth over the last few years, and we anticipate that growth will continue. We expect brands like Rolex and Patek to continue to drive demand for the category but sales around many other brands and independents forecast continued overall industry growth.
Win Betteridge, CEO of Greenleaf & Crosby
Overall impression: For dealers who have been going to the Swiss watch fairs for years, they become a part of the fabric of your life. Having Watches and Wonders felt like another major sign the world is reopening again for business after its pandemic lockdown. Face-to-face meetings [here] are really important [for dealers as] they are one of your few chances to engage with the management of companies that oftentimes may not make it too frequently to U.S. shores. These meetings really help to shape the watch world’s agenda for the year.
My sense is that foot traffic was definitely down relative to the SIHHs and Baselworlds of years past for a few reasons, including the absence of Russian dealers and lingering COVID-19 concerns. Many large dealers who frequently would come with a group of employees came to the show alone or with a family member. We left extremely impressed by IWC and Jaeger-LeCoultre, in particular. Both companies introduced extraordinary watches, which will be quite limited in production and coveted by collectors.
Best booths: In my opinion, IWC and Jaeger-LeCoultre also had the best booths at the show. They were two of the only brands who designed their booth to match the look of their watch introductions, as opposed to reusing the same booth design we have seen in past years.
Top watches: IWC’s new Pilot’s Watch Chronographs are home runs: the monochrome aesthetic is very stylish, and they nailed the perfect size so it feels great on the wrist. Personally, the Woodland edition in green ceramic is my favorite watch in the collection. Jaeger-LeCoultre’s new Polaris Perpetual is an amazing value: it’s just as complicated as other watches at the show that are exponentially more expensive. We also loved the deep blue gradient dial, as well as the easily interchangeable metal bracelet and blue rubber strap.
New talents: With respect to independents, I’m a huge fan of H. Moser and Laurent Ferrier, both of which continue to impress year-after-year with avant-garde dial and movement designs.
Your outlook for 2022: Although we are a little nervous about some of the macroeconomic headwinds we see in the global market in 2022, our business has been extremely strong so far this year. We are investing heavily in a number of watch brands we will be launching with in Palm Beach later this year. We think that growth may slow a bit later this year, but that 2022 will still end up being the best sales year in our history.
Marianne Romestain, general manager of the watches division at Galeries Lafayette
Overall impression of the edition: It was really important to meet physically on the fair after the two years we’ve had. It was a time for exchanges and meetings around passionate horology and jewelry people. And for the first time, all the big houses were assembled in Geneva.
Best booth: Panerai with its replica of an underwater grotto. It was a true immersion in the brand’s universe to discover their Submersible collections.
Top watches: Rolex’s GMT-Master II with its left-handed crown and date certainly added to the horology buzz. We are delighted to see the Day Date collection grow, especially with the platinum version because our consumers are strongly moving toward this in precious watches.
At Cartier, very well thought-out collections — in design as well as price. Remarkable work on the Masse Oscillante Mystérieuse, and the work of materials and colors on the cases of the brand’s icons is worth noting. For women, Jaeger-LeCoultre presented the most poetic pieces of this edition with the Rendez-Vous Dazzling Star and its random shooting star that takes us into a mysterious and fascinating universe.
A beautiful technological surprise with the Tag Heuer Carrera Plasma and its lab-grown diamonds.
New talent: Trilobe, a brand we brought into our network a few months ago and which caught our attention thanks to its novel way of reading the time. Their novelty of the edition, “Une Folle Journée” pushes the envelope even further by projecting the dial in 3D.
Budgets: The luxury watches sector is doing very well and we were anticipating novelties with impatience. Our budgets are defined ahead of the show and were confirmed at appointments.
Ordering behavior: Maintaining touch and feel appointments was very important to confirm our choices. Case colors or trying a timepiece on can reveal a product. Houses always manage to offer this level of presentation to us.
What are your customers shopping for?: They’re looking for the latest novelty and they’re prepared to buy sight unseen. There is an ever-stronger demand since 2020 on precious materials. The proportion of gold is significant in our trading volumes.
Your outlook for 2022: We are very optimistic for the year ahead. Air traffic is going again and the dynamic of this first quarter is very promising. We hope for high availability of product from all the brands to satisfy the demand from our customers.