Following the end of July, the Swatch Group announced its withdrawal from next year’s Basel Watch & Jewellery Show. Two days later, there were heavy news. AP (Audemars Piguet) and RM (Richard Mille) also announced that from 2020 Since the beginning of the year, exit SIHH Geneva Haute Horlogerie. AP mentioned in its official statement that 2019 will be the last time Audemars Piguet will participate in the SIHH Geneva Haute Horlogerie Show, ending its 19-year partnership. The family-owned company also specifically mentioned that in the future, it hopes to continue to innovate business models and create more direct communication with guests around the world. RM’s attitude is also very sincere and regrets the end of the cooperation, but also clearly mentions that ‘continuing to participate’ is no longer in line with the brand’s exclusive and selected distribution strategy. In fact, for most melon-eating consumers (especially rabbit fans who spend money without blinking), industry events such as exhibitions do not pay much attention. But we need to think about where we will get new product information in the future. Let’s start with a history of watch exhibitions. At present, the two major exhibitions in the watch industry are SIHH in January-Geneva Fine Watch Salon (with Richemont Group as the main player), and Baselworld in March-Basel Watch and Jewellery Exhibition ( The Swatch Group has a lot of people, Rolex and Patek Philippe are sitting at the same time, of course, there are several LVMH bosses). Among them, the Basel exhibition has been through for hundreds of years and has witnessed the changes of the times. In fact, at the earliest, the bezel had only one Basel exhibition, and everyone had to travel thousands of miles to display new products. In 1991, Cartier left for Geneva and established SIHH. But at that time, Richemont Group did not have so many hard luxury brands, only old employees Dunhill and Montblanc accompanied Cartier to fight. It can be said that afterwards, the Richemont Group, which started as a tobacco business, relied on the money it earned and bought one brand after another to have today’s strong strength. For example, in 1996, the Swiss brand Vacheron Constantin was included in Richemont; in 1997, the Italian brand Panerai joined; in 2000, three brands were acquired in one go, Jaeger-LeCoultre, IWC and Lange; in 2001, the French jewellery brand Van Clevia was acquired. Bao (finished the shares in 3 times); in 2008, it acquired the independent watch brand Roger Dubuis (also completed in 3 years) … Today Richemont is a big player in the watch industry, and SIHH also attracted Many non-group brands joined, as well as those just moved from Basel, such as Hermès. There are 35 brands participating this year, an increase of 6 from 2017. Of the 18 brands with independent booths, 11 are from Richemont Group, 2 are from Kering Group (Athens and Girard Perregaux), and 5 are independent brands (including AP and RM who have announced their withdrawals). The classic rabbits of Athens and Girard Perregaux remembered that their first SIHH trip was in 2008. This year was a watershed year. In the past, Basel and SIHH were held next to each other. Everyone often went to Switzerland to get two exhibitions. , But since 2009, you have to run twice. Although some dealers complained that the cost was high, such a day also passed 10 years later. Just a step-by-step life will be broken after all, because times are changing, is a long-accustomed way still necessary, and it is often the market that educates us. Originally, the brand change was normal. For example, when the rabbit was in SIHH in 2008, Dunhill and Ralph Lauren could be seen. However, the subsequent withdrawal of the two brands just proved that the main business was not here, and the demand for watch exhibitions was not so urgent. This year’s ups and downs originated from Swatch Group, the biggest gold medalist at the Basel Show. When Hayek announced his withdrawal, it seemed to detonate a time bomb. At this moment, AP’s and RM’s statements naturally make everyone feel that the situation is more serious. But in fact, such a choice is understandable. In the big picture, the model of the exhibition still stands decades or even a hundred years ago, but in today’s digital age, there are too many ways for everyone to display new products. In addition, the cost of the watch exhibition is too big. The rabbits had been eight times before. The entire Swatch Group spent 430 million Swiss francs at the Basel exhibition (this money can do a lot if saved). Leaving aside money, especially for independent brands that have enjoyed a good market in recent years, the existence of exhibitions is indeed a bit confusing. For example, RM, billionaires’ admission tickets, small quantity and high unit price, the reliance on exhibitions is very small. Most of the time, sales with rich customer resources can complete the performance. After all, this is a product in a circle culture (the pursuit of star athletes and rich second generations), and it no longer depends on conventional publicity and promotion models. The same is true of AP. In recent years, explosive models have been frequently launched. Young people have chased and the explosive power of word of mouth is very strong. Coupled with the taste of social media communication (online sales, etc.), this family business naturally wants more plans to break the norm. In addition, there are rumors that a strong brand of jewelry also intends to withdraw. This is a reasonable adjustment based on the brand’s own needs. Physical sales are important, but they are not the only way. At the same time, there are more options than physical exhibitions. In fact, Rabbit guessed that in the past two years, there will still be brands (especially some brands that are positioned in the high-end market but want to open their popularity) who are interested in joining SIHH to get greater display opportunities. New people come to old people, this is the law of the market. Do n’t worry about where we should go to see the brand new models in the future. The head of a brand of the Swatch Group privately told Rabbit that their biggest possibility is to launch new products in the Asian market directly in China (compared to the exhibition fee of Basel, Too much cheaper), direct and close to consumers. Coupled with official digital channels, fans can always receive new information about their favorite brands. With money in your pocket, there is nothing to worry about. Forms change, but the market is eternal. The gossip rabbit is only original, welcome to repost!
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