Visits to SIHH Down

By William George Shuster -- JCK Online, 3/1/2009 2:00:00 AM

Attendance plunged 20 percent at the prestigious Salon International de la Haute Horlogerie luxury watch fair in Geneva, held Jan. 19–23. Show officials blamed the global slowdown, but not overlapping Basel World (late March/early April) also was a factor.

Some brands didn't host their usual dinners for retailers, and exhibitors canceled gala events.

Exhibitors were cautious, but Luigi Macaluso, Girard-Perregaux president and chief executive officer, expected a U.S. recovery in 2009's second half.

Bernard Fornas, president and CEO of Cartier International, told Reuters the stronger luxury brands will get stronger. “Real, true luxury is back,” he said.

Counterfeit Watch Campaign Launched

The Federation of the Swiss Watch Industry (FH) and The Fondation de la Haute Horlogerie launched an international ad campaign at SIHH to stop consumer purchases of counterfeit watches.

The campaign's ads show an unconnected hand and wrist of a mannequin wearing a watch (with “Fake” on the dial) and the taglines, “Fake watches are for fake people. Be authentic. Buy real.” By late January, 25 publications committed to publish the ad free.

FH estimates over 40 million fake Swiss watches are made annually, eclipsing the 26 million authentic ones exported in 2007. Fakes generate annual profits of $1 billion.

Consumers who buy counterfeits fail to realize “the full extent of the damage they cause,” said a statement.