Just after the Spring Festival, many watch lovers will welcome the Basel Watch Fair in March. Known as the ‘Oscar in Luxury’ watch and jewelry show will be held on March 18. After the decline caused by the financial crisis, the Basel Show is recovering due to the increasing attention of Chinese fashion people. Several Chinese heads of the world’s top 10 watches also said that the Basel watch exhibition has now become a feast of well-known watches.
中国 Sinification in Basel
Affected by the global financial crisis last year, the number of exhibitors and the scale of the Basel show has shrunk significantly compared with previous years, and it has been accused of ‘declining popularity and exquisiteness.’ The Organizing Committee of this year’s watch exhibition will invite the global watch and jewelry exhibitors to gather in Basel in English, French, Chinese, Japanese and Italian on the official website more than 4 months in advance to welcome the global watch event. From the relevant information disclosure of the organizing committee, this year it is expected that more than 2,000 exhibitors from the watch, jewelry, gem and related industries will display their innovative and reformed products in Basel, such as Omega, Blancpain, Longines, Swarovski, etc. High-end brand timepieces will be presented at Baselworld 2010 with their new 2010 models. It is expected that more than 100,000 visitors from 100 countries will come to Basel to get the latest fashion trends and creative design ideas of the world’s top watch and jewelry industry. It is understood that many domestic watch suppliers have already participated in this year’s Basel Watch Fair. Some convention and exhibition companies are also well prepared to provide exhibitors with services to Switzerland.
Geneva watch exhibition brand Piaget
A person in charge of Piaget said: ‘The Basel show now seems to be no longer just a European event. In the past, we have seen more watchmakers in Switzerland, diamond dealers in Antwerp, France and Italy. Luxury goods operators and U.S. buyers. Now, more and more Chinese faces are appearing in various groups and camps, and many local Swiss watchmakers also feel that if anyone can capture Chinese buyers, Whoever eats and wears in ten years does not need to worry about it. If it fails, it seems that it only gets deeper and deeper. ‘
Although this is a bit absolute, it reflects a mainstream trend, that is, the Basel watch fair is like the auto shows, clothing shows, shoe shows around the world, more consideration is given to the needs of the Chinese. Many exhibitors’ important exhibiting demands are to show their products or services to the Chinese market and win the favor of Chinese buyers.
This trend is already very clear, that is to re-establish the position of the Chinese market.
The high-end watch industry ‘besides’ the Chinese market
If two or three years ago, the high-end watch industry represented by Basel Watch Fair was still testing each other on the Chinese market, then the former is now considered to have completely ‘closed’ to the Chinese market.
Just in 2009, the luxury goods industry has withstood the real test after the financial crisis. Well-known brands in the fashion industry, including Yoshimoto Yamamoto, have declared bankruptcy. Everyone hopes to see a new weather vane at Basel. In fact, this trend is already very clear, that is to re-establish the position of the Chinese market.
Before the Basel Watch Fair, just held the Geneva International High-end Watches Salon Watch Fair, which is a prelude to Basel. Some insiders also said, ‘It is easy to enter the Basel exhibition, but difficult to enter the Geneva exhibition.’ Mainly because there are almost 2,000 exhibitors at Basel and only 20 exhibitors at Geneva. This watch exhibition, which was mainly based on Richemont Group brands such as Vacheron Constantin, Cartier and Montblanc, has new faces such as Greubel Forsey and Richard Mille this year. One of the founders of the Greubel Forsey brand said that many of the brands at the Geneva watch fair were favored by the Chinese market, attracting the attention of more than 30 Chinese media representatives and a number of industry professionals. In Basel, small-volume brands like them are easily overwhelmed, while in Geneva, they have more opportunities to be noticed by the Chinese market. A few years ago, the name of the Chinese media could not be found on the media list of the Geneva watch fair.
Greubel Forsey Watch
In addition to the official website of the Chinese language, this year’s Basel Watch Fair is also equipped with specialized translators and staff to answer questions from Chinese media, and even international brands hold press releases for Chinese media.
中国 ‘Chinese route’ of world famous watches
Many people at the helm of world-renowned watches have their eyes open when talking about the Chinese market, but Coca-Cola’s paradox of development is also something that every brand must face. At that time, The Coca-Cola Company once only assumed that if one billion Chinese people drink a can of Coca-Cola, what would their income be, but the practice after entering the Chinese market has proven that from entering this market to achieving similar vision, long way to go. In fact, the situation of many world-renowned watches in the Chinese market is quite different.
Richard Mille watch
Wang Shaoqian is the general manager of Italian brand Panerai in Asia Pacific. The Frenchman was once one of the market leaders of Cartier watches. When he came to the unknown Panerai from Cartier, who is well known to the Chinese, the difference was obvious. Although he belonged to Richemont Group, the latter produced only 300 watches in the 60 years before 1993, and until now There are also only 9 specialty stores worldwide. Watching a watch brand of this size in a large market like China is indeed a big issue.
Panerai collaborates with Ferrari
An important move of Wang Shaoqian is to marry his brand with other top Italian brands that are well known in China. In 2006, Panerai cooperated with Ferrari to produce a series of chronographs, which are very useful for high-end users in China. Many F1 fans began to know this watch brand.
Another Swiss boutique watch brand ‘Girard Perregaux’ has chosen a development route in China to open a store to stand firm in a market. They have set up stores in Shanghai, Hangzhou, Taiyuan, and Beijing, and the layout is very clear-they are robbing all the ‘rich minerals’ of Chinese luxury consumption.
And the watch industry is very different from many other industries. In a car 4S shop or clothing store, it may be scary not to sell a car or a piece of clothing a year, but in the field of watches, many people can still drink coffee optimistically. Swiss tourbillon brand Hublot, their flagship store in Shanghai Hang Lung Plaza, has not sold a watch since its opening, but its owner, Liver, is not worried and optimistically buys Hublot in Hangzhou Tower or other places Chinese customers of watches are likely to see the brand for the first time at Hang Lung Plaza. Many times, the storefront will act as a showroom, which is a slow impact for potential consumers.
Hublot’s flagship store opening at Shanghai Hang Lung Plaza
Regarding how to make consumers spend a lot of money on a watch brand that they are not familiar with, the manager who has worked for the world’s top 10 watch brands such as Audemars Piguet, Blancpain and Omega said: The only way is to create a new experience for people. You can save money everywhere, but the market and products have to increase investment. Since I came to Hublot, about half of the global sales points have been closed. I Re-established distribution channels. Only Asian suitable luxury brands in the world continue to invest, and I believe that all efforts are made to bring them all up! ‘