High-end watch sector resilient in Hong Kong

Taking place in troubled times (see my previous post here), the third edition of Watches & Wonders was a real success, not only in terms of quantity (20'000 = +25% visitors, more than 100 novelties presented from which 60 were never presented before, including brand new collections), but also in terms of quality with an always facinating setting, new digital experiences and a relaxed atmosphere, propitious to making good business.

What does this tell us?

First, that the power of dreams is still alive! In the ww #1 watch market, hit by many issues (political, financial, structural) and reporting -30% turnover since year begin, a high-profile event to showcase high-profile products shows that it is too early to write off Hong and China overall as the potential is still there.

Second, according to various hints and inofficial reports on-site, business was indeed quite good, maybe not sufficient to invert the trend on the short term, but giving hope for the mid-term future.

Continuing the effort in difficult times is indeed the way to go forward in my view. It isn't merely a question of image as it is the expression of the will to pursue an effort started in better times. Watchmaking has been around for a while and has faced many crisis. It is far from being dead !

Official press release of W&W