Editor’s Note
The 2024 Watches and Wonders exhibition in Geneva concluded with record participation and attendance, drawing 54 exhibitors and 49,000 visitors. This growth highlights the industry’s resilience amid broader market challenges.
The 2024 “Watches and Wonders” exhibition welcomed 54 exhibitors, including 8 new brands. The organizers also announced a record number of visitors (49,000, a 14% increase from 2023). Held from April 9th to 15th in Geneva, the world’s largest watch fair proceeded with enthusiasm despite a backdrop of declining watch exports.
Julien Tornare, Managing Director of TAG Heuer, expressed his delight.
The significance of watch fairs has been questioned in recent years. However, the pandemic underscored the necessity for direct communication between the industry, the public, and stakeholders. The fair is no longer seen as a stage for commercial rivalry but as a platform for professional solidarity.
Jean-Frédéric Dufour, CEO of Rolex and President of the Watches and Wonders Committee, emphasized this point.
Jean-Claude Biver, former President of LVMH’s Watch Division, stated firmly.
During the fair, Geneva is undoubtedly the watch capital. Many brands host parallel exhibitions. While organizers officially complain about competitors’ “pirate” events, they are privately pleased with the indirect recognition of their own event.
Jean-Frédéric Dufour pointed out a key difference from the former Baselworld fair: in Geneva, the watchmakers themselves are in charge. The exhibition committee, composed of watchmaker representatives, functions like a federation. Its mission is to ensure major brands pay most of the registration fees, allowing “younger brothers” to participate.
Cartier, Patek Philippe, Richemont, and Rolex form the fair’s “Big Four.” Brands like Chopard, LVMH’s top brands (Hublot, TAG Heuer, Zenith), Chanel, and Hermès are not part of the management, though they may seek entry in the future.
Despite its ambition to be a unifying event, “Watches and Wonders” sees notable absences, including independent brands Audemars Piguet and Richard Mille, and all 17 brands of the Swatch Group (e.g., Breguet, Blancpain, Omega, Longines). Louis Vuitton and Bulgari from LVMH also did not attend.
Matthieu Humair, Director of Watches and Wonders, said before the fair opened.
A key question at the fair was whether the watch industry faces a slowdown or a deeper crisis. After rapid growth in recent years, watch exports saw a significant drop in February 2024 (down 3.8% year-on-year).
Oliver Müller, founder of the luxury consultancy Luxeconsult, commented.
Jean-Claude Biver added.
This “normalization” has impacted the secondary market, where speculative fervor for iconic models has cooled.
commented Louis Ferla, CEO of Vacheron Constantin.