|
The
big Swiss watch fairs in Basel and Geneva, which usually attract
thousands of visitors, were cancelled earlier this year because
of the virus.
This week's gathering, the first of what will be known as
"Geneva Watch Days", will be very different. Instead of using a
big exhibition centre, the event will be spread over a number of
the city's luxury hotels.
Jean-Christophe Babin, the boss of Bulgari <LVMH.PA>, who
devised the new format to help to "rekindle the flame", said the
new setting along with strict hygiene rules would help to
prevent infection.
"It is important to physically meet our customers," Babin told
Reuters in an phone interview. "We hope the event will help us
gain market share."
"This is sending a strong signal that we are determined to grow
whatever happens."
Bulgari expects about 60 retailers and 100 journalists, bloggers
and influencers to attend.
Demand for luxury watches has collapsed during the pandemic as
the Chinese, the industry's biggest customers, could not travel
or shop.
Swiss watch exports plunged 68% in May, but the downturn slowed
in June and July as mainland Chinese started shopping again.
But Babin said global demand was not back to pre-crisis levels
with the virus still very present in North and Latin America.
South Korea and mainland China had rebounded nicely, but not
enough to make up for declines in America and Europe, he said.
Georges Kern, CEO of Breitling, said on a webcast on Wednesday:
"Luckily we are now seeing some of our markets return to a new
normal and sales are bouncing back as well."
Edouard Meylan, chief executive of H.Moser & Cie, said sales of
his brand were only down 2% so far this year and demand was
encouraging, but he was worried about some of his suppliers.
"We depend on suppliers for cases, dials, straps, and some of
them could go out of business because big brands cut their
orders, also for next year," he said.
Babin said Bulgari might buy strategic suppliers, notably in
jewellery, if that became necessary.
Rapidly changing quarantine rules in Europe have had an impact
on this week's event.
Babin said visitors from Spain and Belgium had cancelled due to
quarantine regulations. But retailers and media from elsewhere
in Europe were coming, plus also quite a few people from the
United Arab Emirates.
(Reporting by Silke Koltrowitz; Editing by Keith Weir and Jane
Merriman)
[© 2020 Thomson Reuters. All rights
reserved.] Copyright 2020 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
