The Swiss watch industry is embracing a bright future as the prestigious Baselworld show kicks off in the city of Basel. From March 21-26, this renowned event has undergone a transformation this year to inject new energy into the annual highlight of the luxury world.
Featuring approximately 500 exhibitors, including top Swiss watch-making brands like Rolex, Patek Philippe, Tag Heuer, Hublot, and Breitling, Baselworld continues to draw in the industry’s biggest names. This year, the show has innovatively added a section dedicated to craftsmen, a runway for fashion shows, and a central aisle lined with extravagant features such as a restaurant, a fountain, and a display of camellias, enhancing the overall opulence of the exhibition hall.
Although Baselworld has been a mainstay in the industry, it has faced criticism in recent times, particularly during challenging periods for Swiss watch-makers. The industry leader, Swatch Group, made the decision to opt out of the show in favor of hosting its own event for retailers, citing the necessity to adapt to the evolving digital landscape and the prominence of online sales.
While Baselworld remains a hub for retailers to place their annual orders, it also attracts enthusiasts, investors, and luxury professionals seeking insights into the industry’s trajectory. Following difficulties in 2015 and 2016, the watch industry experienced a revival in 2018, driven in part by heightened demand from China’s affluent class and expanding middle-income group.
Industry analysts such as Jon Cox are hopeful about the prospects of the industry, with forecasts indicating a 5% rise in watch exports for 2019, particularly in the luxury sector. With exports reaching CHF21.2 billion (€18.7 billion) in the previous year, the Swiss watch industry is well-positioned for sustained growth and success on the global stage.
For more information on Baselworld and the Swiss watch industry, visit Baselworld and Federation of the Swiss Watch Industry.
