Editor’s Note
As the global watch industry convenes at Watches & Wonders in Geneva, it faces significant headwinds, from market pressures in China to economic uncertainty. Yet, as this piece highlights, the focus remains on resilience and a forward-looking mission: to inspire a new generation with the enduring art of watchmaking.
A Positive Outlook Amid Challenges
In Geneva, the watch industry is gathering for the Watches & Wonders trade fair. These are difficult times for the luxury industry, yet Matthieu Humair, the head of the fair, remains positive: he aims to inspire young people across all channels for the art of watchmaking.
Anyone wishing to discuss the state of the watch industry with Matthieu Humair these days – the weakening market in China, concerns about a recession in the USA, and the currently rather mixed figures from most luxury conglomerates – is met with an exceedingly friendly smile. They then learn that the mood in Geneva ahead of the fair’s opening on April 1st is full of optimism and that the program in the halls of the Palexpo site as well as in the city center is packed with fascinating offerings and events.
The CEO of the Watches and Wonders Geneva Foundation, founded in 2022 by Rolex, Richemont, and Patek Philippe, knows the watch world and its challenges like the back of his hand. Humair studied economics in Lausanne and Sydney and gained industry experience at Rolex, Richemont, and the venerable Fondation de la Haute Horlogerie (FHH), which he left after 14 years as CEO. Now he sees his primary task as making the current 60 exhibitors of the novelty spectacle happy and promoting the fascination of watchmaking together with them. In this context, a smile fits better than worried frowns.
The Role of Public Days
Die Fachbesucher der Watches & Wonders erwartet ein viertägiger Meeting-Marathon auf 75.000 Quadratmetern Fläche© Valentin Flauraud
The public days at the final weekend of Watches & Wonders play an important role in this mission. In 2024, as many as 19,000 tickets priced at up to 70 Swiss francs each were sold for this purpose. Overall, the fair counted around 49,000 visitors from 125 nations last year, who needed at least 3,500 steps to walk the 75,000 square meter area.
“CAPITAL: Matthieu Humair, there have been more favorable phases for the watch industry and your fair. How do you perceive the current mood?”
“MATTHIEU HUMAIR: In Geneva, just before the start, there is an abundance of positive energy flowing, and everyone is excitedly looking forward to this unique annual event. With seven newcomers, including Bulgari, and now 60 brands, we are celebrating a new record, and we are working around the clock with the exhibitors to make watchmaking even better known. Watches & Wonders unites our industry, that’s what makes it so important.”
“The macroeconomic headwinds for almost the entire luxury industry, including watch manufacturers, are nevertheless considerable.”
“In the last four, five years, our industry consistently wrote more than pleasing figures. Now a phase of consolidation has set in, I would say. All the more important is the exchange on a forum like the one our fair offers – to remind a global audience of the magic of our craft, and specifically in Geneva, the ‘capital of time’ and its measurement.”
Neben Giganten wie Rolex oder IWC befinden sich im Line-up der 60 Aussteller auch etliche Nischenmarken© Valentin Flauraud
Growth Potential and Audience Focus
“How big can Watches & Wonders actually become?”
“Oh, the Palexpo site is quite spacious, and in our existing halls, there are definitely still some square meters free. In recent editions of the fair, roughly a handful of new brands have regularly been added, and we are constantly in talks with all exhibitors as well as potential interested parties. However, developing a fair presence takes a good whole year. Anyone interested is welcome to get in touch.”
“How important are the public days for your business nowadays?”
“As a non-profit foundation, we are not about maximizing revenues or profits. Yes, the tickets cost 70 francs, but there are special prices, for example for students, and discounted weekend packages.”
Früher waren die Messestände regelrecht vor Blicken abgeschottet, heute übt sich die Uhrenbranche in Volksnähe© Valentin Flauraud
“So B2C marketing is the focus then.”
“We don’t want to take place in a bubble and want to open our doors to the broadest possible audience. Last year, a quarter of the public day tickets were purchased by visitors under 25, the average age was 35. This is a very encouraging signal that younger generations are indeed interested in our craft and its products. This year, we are therefore officially welcoming ‘The Youth’ as guests of honor and offering many program items and events specifically tailored to this target group. Offline and online.”
