baselworld 2008

Will the U.S. Economy Affect Baselworld?

Every year the watchmakers and jewelers converge on Basel, Switzerland in the spring for Baselworld and the SIHH show. It is the place where exhibitors display some of the most dazzling luxury goods in the world. But this year, fears over the U.S. economy may be dampening the usual excitement.

The show, like fashion shows, is one that looks ahead, trying to sell buyers on the goods they will want in their stores in September and October for the holiday season. Many are already predicting that the Christmas business of 2008 will be bad news for both the U.S. and Europe. The annual event has over 2,000 exhibitors and attracts around 100,000 buyers. According to Jacques Duchene, president of the BaselWorld Exhibitors Committee quoted in National Jeweler, last year was a boom year for Swiss watches: Swiss watch exports reached about $15.75 billion last year which was a 16 percent increase over the previous year, and a rise of more than 50 percent over the previous four years.

In this Reuters article, Rolf Schnyder, the chief executive of Swiss watchmaker Ulysse Nardin is quoted as saying that the slowdown in the U.S. market will generally affect the mid-range products. This reflects the general trend we have seen where luxury consumers at the top of the market are spending but those that are at the lower end of the affluence spectrum are cutting back.

For those who make watches and jewelry, bright spots can be found by looking east. Increased demand in Asia, Russia and the Middle East will likely provide most manufacturers with market growth even if other economies continue on their gloomy course. One thing that I will be curious to see is if the change in consumers will change the products. The big spenders in these markets often have particularly lavish tastes and a taste for diamond and jewel-covered watches as opposed to more subtle watches with elaborate complications. I wonder if in the next few years, the major manufacturers will be shifting their output to attract these customers.

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Tags: baselworld, baselworld 2008, economy, expire-images:2009-4-3, watches

Ulysse Nardin Sonata Silicium Limited Edition Watch

by Deidre Woollard (RSS feed) —

Filed under: Timepieces / Watches

Watchmaker Ulysse Nardin has introduced their new watch for Baselworld. The Sonata Silicium Limited Edition watch is a limited edition of 300 pieces (in an 18K white or rose gold case). Nardin is now using silicium in all its new models. The movement is the automatic UN caliber 67 with a power reserve of approximately 42 hours. The functions include hours, minutes, seconds, large date, dual time system with instant time zone adjuster, countdown, cathedral gong alarm. The case is 42mm and it has front and back sapphire crystals with an alligator strap. It's handsome enough and I'm sure the alarm sound is beautiful but I find the yellow hands a bit jarring on such an elegant watch.

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Tags: baselworld 2008, Baselworld2008, timepiece, ulysse nardin, UlysseNardin, watch, wristwatch