The post-show verdict is in from the organiser of Watches and Wonders, which declares: “The event showcased an industry unified by a common drive to share excellence and savoir-faire”.
So far, so on message.
But the official line feels at odds with comments made before the event by Jean-Frédéric Dufour in his capacity of president of the Watches and Wonders Foundation.
The chief executive of Rolex gave the impression of an industry that was anything but unified.
Fifty four exhibitors within Geneva’s Palexpo exhibition centre stood shoulder-to-shoulder as custodians and cheerleaders for the watchmaking industry of Switzerland. Even the German, Japanese, Dutch, Belgian and British brands at the fair joined the chorus.
But Swatch Group’s chairman, Nick Hayek Jr., was not on the same page.
In his post Watches and Wonders interview with Swiss newspaper NZZ Mr Dufour revealed that he had visited Mr Hayek and other members of his family with a view to Swatch Group brands taking their place alongside more than 50 watchmakers at this year’s event.
His advance was rejected and, when asked why, Mr Dufour replied: “I don’t know, I can’t see into Mr Hayek’s head. He says the Swatch Group is very industrial and doesn’t want to waste time on exhibitions. It’s a shame, but it’s not my place to judge this strategy.”
Having shared details of what should surely have remained a private conversation between business leaders (not very Swiss), Mr Dufour turned his attention to watch brands that exhibited in hotel suites, boutiques and other exhibitions around Geneva.
“We call them pirates. But that’s okay,” Mr Dufour said in reference to these brands coat-tailing on the investment from the brands at Watches and Wonders.
I spent a couple of days with the pirates and they wore the insult as a badge of honour. The Beau Rivage, where 50 of the indies clustered, was buzzing. An exhibition of AHCI‘s horological masters had more of a reverential hum.
It wasn’t just smaller independents clustered by the lake. Bulgari was there; Gucci, Bovet, Jacob & Co were there too. Even Carl F. Bucherer, soon to be owned by Rolex, was presenting downtown.
Elsewhere in Mr Dufour’s interview, he talks about the fragility of the Swiss watch industry, and how no business, however powerful, should assume they will always win the battle for the wrists of rich people.
As the president of Watches and Wonders Foundation, he would be well advised to think about the fragility of global trade fairs, particularly since Rolex put the final nail in the coffin of Baselworld when it jumped ship to Geneva.
Approaching Swatch Group was the right thing to do if the aim of Watches and Wonders is to present the collective strength of the Swiss watch industry, although talking about that meeting in public is unlikely to have brought Mr Hayek any closer to joining the fold.
Insulting over 100 watch brands exhibiting in the centre of Geneva, however gently, was bizarre. I had to check that Mr Dufour’s words had not been mistranslated or misinterpreted, but a Rolex spokesperson said the company stood by what was said.
My week, most of which was spent at the main Watches and Wonders exhibition, was enriched by the brands around town. They have found a way to be part of a citywide celebration of watchmaking that doesn’t cripple them financially as they tell their stories to the world.
It is — and should remain — more prestigious to be in the main show, and I would like to see some Swatch Group brands participating along with other notable absentees like Bulgari and Breitling.
A limit of around 100 brands at Palexpo would create a broader base of independents and industrial watch brands, and would likely lead to more variety year-to-year as some businesses ascend to the apex show while others walk away.
Guerrilla warfare from the centre of Geneva should continue. It brings the whole city to life, encourages journalists and retailers to get some fresh air around the lake as they search for the ‘next big thing’, and provides a sort of feeder tournament into Watches and Wonders that can only be good for the future health of the Swiss watchmaking industry.
On 04/13 Swiss newspaper Le Temps interviewed J.F. Dufour where he was asked to clarify the pirate comment. “I said it in a friendly sense. It is true that the quality of a good pirate is to be opportunistic…” Le Temps is (indirectly) owned by Rolex through the Fondation Aventinus which is funded by the the Hans Wilsdorf Foundation.
This just shows how arrogant Rolex has become, if Dufour had nothing nice to say, he should had said nothing at all.
Monsieur Jean-Frédéric Dufour in his capacity as president of the Watches and Wonders Foundation should be given credit, not scorn. He reached out to Mr. Hayek in a one-on-one conversation to personally invite the Swatch Group. This is a nice gesture that was rebuffed by Mr. Hayek. The watch press should get an answer why he rebuffed not attending Watches & Wonders. In my personal view, Mr. Hayek should have accepted the offer.
Monsieur Dufour moving Watches & Wonders out of Baselwood is a smart move. Baselwood ran out of hotel & restaurant space to host the show. On top of this, the residents of Baselwood did not like the once per year invasion and made their lack of hospitality known.
Lastly, I always thought of Watches & Wonders as a Swiss watch industry show only. Opening the doors to German and Japanese brands is another class act by Monsieur Dufour.
I only wish that when he becomes CEO of Rolex that he begins a dialogue with collectors. I know that in theory the AD’s are Rolex’s customers. However, this has changed since Rolex bought Bucherer. Rolex is the top of the mountain for Swiss watches, but I also remember when General Motors owned the US automobile market in the 1960’s. This changed when the first oil embargo hit in the 1970’s. I am looking forward to see how things might change at Rolex when Monsieur Dufour takes over in June.
The last comment by Danny Simenauer, I agree with you ..but Dufour is Rolex CEO…he has been since he left ZENITH….unless you meant something else? Anyways, I think people are seeking an opportunity to access that Rolex mystique via JFD, Previously, one would never hear a comment from the man at the Acacias Building in Geneve, Jean Frederick Dufour has a very valid point and it is easy for small minded people (especially those who cannot access Rolex watches) to seek shortcomings in any way they can…especially us men! As for Mr SWATCH group, it is the daunting task of being under the Rolex stewardship that leaves the bitter taste on their wrists!….rivalry is their problem…and I dare say envy!