I got a frisson of excitement when an invitation to a Watches & Wonders press conference was accompanied by a floor plan of the event.
Lest we forget, this is the first global trade show in Switzerland since 2019, three long years ago, when SIHH and Baselworld competed for the title of the most important event of the year.
Baselworld may return, but for now the only game in town is Watches & Wonders, which is hosting the major 2022 launches of Rolex, Patek Philippe, Tudor, Chanel, Grand Seiko, Oris and LVMH’s TAG Heuer, Zenith and Hublot for the first time.
As a seasoned editor who has attended these shows for many years, I am fascinated by the politics at play in the simple geography of laying out a trade show like Watches & Wonders.
The layout shows that this is still, fundamentally, a Richemont event.
Cartier, which generated sales of CHF 2.4 billion in 2012, according to Morgan Stanley estimates, has the biggest space in the show, around three times the size of Rolex, which had turnover of over CHF 8 billion.
I would love to have been a fly on the wall at the meeting when that was agreed.
TAG Heuer and Hublot each have roughly the same square footage as Rolex, which might be a sign of LVMH’s power as a luxury conglomerate with a market capitalisation of almost €630 billion.
Richemont has circled the wagons for its brands, which are all at one end of the show, while the former Baselworld interlopers have their own annex.
Don’t get me wrong, given the demise of Baselworld, brands like Chanel, Tudor, Chopard, Oris and Grand Seiko will be delighted to be in such a prestigious show where the presence of Rolex and Patek Philippe — and their gold standard retail partners — make it a massive opportunity.
That same opportunity is extended to Richemont’s brands (I exclude Cartier in the point I am about to make).
The likes of Jaeger-LeCoultre, IWC and Panerai are eager to work their way into the retail network that is anchored by Rolex and Patek Philippe, and Watches & Wonders is a chance to pitch for space in the world’s best stores.
The once unloved Carre Des Horlogeres — a space dedicated to small, artisan independent watchmakers — might be the buzziest area of the show this year.
Retailers and press that have neglected these independents for years are now lining up to woo them.
Moser, Czapek and Laurent Ferrier are likely to be the centre of attention.
Word on the street is that a contract with Palexpo, the venue for Watches & Wonders, is up for renegotiation next year, so this may be the last time we see a configuration that is most likely limited by constraints on space.
Whether a show run by Richemont will allow Rolex or Grand Seiko to have a bigger and better booth than Cartier remains to be seen.
For now, I am simply looking forward to the return of theatre, drama and the excitement that comes with having the industry together in one place.
I cannot wait to see you in Geneva.
