Change Brings Opportunity For US Jewelers At Baselworld 2015

Photo credit: Courtesy of Baselworld

By Lisa Nikfarjam of Lisa Nik, Inc.

Attendance was undeniably down this year at Baselworld. But what does this really mean? The buying habits of US retailers have become increasingly focused on commercialized and internationally advertised brands. Perhaps this is because these brands are also becoming increasingly demanding for in store space, purchase dollars, and marketing placement in order to maintain market share. Will this create an overly homogenized jewelry selection for consumers across the country? 

Many jewelers would argue that this industry dynamic is an opportunity to grow by further differentiating and focusing on newer and less commercialized brands. Several buyers that we spoke with at Baselworld stated that they need something different that everyone cannot find down the street at every department store and competing jewelry store. Niche designers have a tremendous opportunity to position themselves among the boutique and specialty retail stores that specifically target items that rebel the mainstream.  

For designers, the colored stone section offered better than usual deals this year, specifically because of the strength of the US dollar against the Euro. It was literally like shopping with a 20 to 30 percent discount compared to the previous few years. Colored stone prices in general are higher than in years past and buyers may consider this adjustment to price as balanced due to the exchange rates. Overall, the incentive to buy from European suppliers was present within the competitive landscape.  

Many European designers and manufacturers commented on the lighter international traffic with all eyes gazing upon the US buyers that were present. Although the strengthened dollar certainly stimulated US purchasing at the show this year, several retailers commented on the concern over experiencing a drop in existing inventory values because of the changed prices. Imagine owning $1 million of commoditized inventory that is suddenly worth 20 percent less because of a price change. This may not lead to a desire to purchase more just because of the drop in price.  

We can only hope that the continued strength of sales in the sector will allow these retailers to sell through their existing stock levels so they can purchase more and benefit from the price reductions and the preferred Euro and Swiss Franc exchange rates against the US dollar.

Lisa Nikfarjam was at Baselworld in search of gems and stories. She is founder of the jewelry design firm, Lisa Nik,  a company that combines colored gemstones, diamonds, and artful elements to create fashionable jewelry that women around the world can enjoy on any occasion.

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The Best of The Best Jewelry At Baselworld 2015

Fabergé Secret Garden necklace

Baselworld is known as a watch show but it is also one of the best places in the world to see the newest and best in jewelry from around the world, particularly at the luxury end. 

Among the brands that really made an impression this year was Fabergé. Not only with its first Imperial style jeweled egg in nearly a century. I already featured its Pearl Egg but the company exhibited several high jewelry collections reminiscent of the Fabergé of old, including a candy-colored collection of jewels called “Secret Garden (top photo).” Natalia Shugaeva, Fabergé’s head designer, said she wanted to create a collection of jewels that are opulent and refined. She succeeded.

From friends to those who actually work for the brand the word most used to describe the work of Fawaz Gruosi and his high jewelry brand, De Grisogono, is “crazy.” It is meant in the best possible sense. His singular creative designs have won the brand fame throughout the world and this year at Baselworld there were several ultra-imaginative masterpieces on displays. It’s almost become typical to expect the wonderfully unexpected from De Grisogono. Yhe De Grisogono High Jewelry necklace picture is a perfect example in 18k white and rose gold, 12 briolette-cut emeralds, 19 round-cut rubies (approximately 12.66 cts.), 29 marquise-cut white diamonds (approximately 11.01 cts.), 1,366 emeralds (approx. 60.20 ct s ) and 2603 white diamonds (approximately 137.54 cts.).

Chopard unveiled its High Jewelry Collection at Baselworld and even among the selection of jewelry destined for Red Carpet events one piece stood out. An ocean blue ring featuring a 41.57-carat oval shaped paraíba tourmaline from Mozambique and 8.8-carats of diamonds set in a lace-work of 18k white gold.

Georg Jensen and its managing director of jewelry, Meeling Wong, created several collections of refined jewelry that reinterpret the traditional designs of the famed silversmith brand. Among the items that stood out was a collection of pieces in collaboration with colored gemstone mining company, Gemfields.

Graff Diamonds also provided an exceptional jewelry not only in terms of size but in nuanced ways, showcasing several pieces that can be worn in a variety of ways or with clever use of material. The latter could be seen in the diamond tassel necklace pictured above.

Antonini, introduced a number of new collections with what it calls “natural” white gold, which is more like white mixed with a grey or yellow tint. It is used in a matte finished. Meanwhile more traditional rhodium-finished white and black gold is creatively used as a background for rough-textured pavé settings.

Pasquale Bruni introduced a number of colorful items led by Fiori in Fiore (Flowers in Bloom), featuring diamonds mixed with pink sapphires and morganite. 

Roberto Coin made a statement with its steely-eyed Falco (hawk or falcon, take your pick) ring and bracelet.  

Brumani was again as always a great designer of multi-colored stones that reflect the vibrancy of its home country Brazil and this year was no different as with these pastel colored earrings show. 

Like few other brands, Sutra brought color to the party with exceptional gemstones and creative designs as with these turquoise, diamond and gold earrings. 

More color was provided by Yoko London through its pearl-centric designs. 

Spanish brand Carrera y Carrera celebrated its 140th year anniversary with a collection of delicate, hand-made gold pieces. 

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A Very Busy Baselworld 2015 Press Conference And Mourning An Untimely Death

Baselworld 2015 opening day press conference. Photo credit: Anthony DeMarco

Baselworld 2015 is set to officially begin Thursday but Wednesday was the opening press conference for the world’s largest watch and jewelry show, where a number of changes were discussed.

Sylvie Ritter, Baselworld managing director, described the past year as “a very busy time where we’ve seen some fundamental changes” that included the unpegging of the Swiss franc to the euro, the crisis in Russia and Ukraine, the decline of growth in China, and Smart watches.
Growth in the industry in 2014 was modest. François Thiébaud, president of the Baselworld Swiss Exhibitors Committee, said that Swiss watch exports increased 1.9% year-over-year to nearly $22.2 billion.

The show continues its transformation to a pure luxury event, which caused a number of exhibitors to drop out during the past two years because of a steep increase for exhibit space and demands that they spend even more for larger and more elaborate booths. This resulted in the opening of two other trade fairs last year to accommodate these exhibitors. The largest of the two is Jewellery & Gem Fair – Europe, March 22 – 25 at Messe Freiburg, Germany, will have approximately 400 exhibitors representing all facets of the jewelry industry. The other is The Diamond Show, March 19 – 23 in Basel, which as the name suggests, is dedicated to diamond industry exhibitors.

Two years ago the fair unveiled a new design for the massive exhibition space. Many watch exhibitors in Hall 1.0, the prime real estate at the fair, were booted upstairs to Hall 1.1 to make way for brands owned by luxury conglomerates (Swatch Group, LVMH and Kering) and the few large independent brands able to afford to exhibit there (such as Patek Philippe, Rolex and Chopard). This year many jewelry exhibitors who were exhibiting at Hall 1.1 have moved to Hall 2 in the adjacent building.

The move to pure luxury seems to have worked for the show. There may have been fewer exhibitors last year but visitor numbers grew. And there are still plenty of exhibitors. In fact, the show even attracted a few luxury brands who haven’t exhibited in the past, like Graff Diamonds who exhibited for the first time last year.

Smart watches was a major focus of the press conference where two of the three speakers said they view the new timepieces as something that can co-exist with the traditional Swiss watch industry. No one viewed it as a threat.

“Smart watches have been around for years,” Ritter said. “Lots have already been written about them but it will have no effect on traditional watchmaking.”

A comparison to the introduction of Japanese quartz movements in the 1970s and ’80s, which was a major crises at the time to the watch industry, were brushed aside by the speakers.
“The watch crises of the 1980s was totally different,” said François Thiébaud, president of the Baselworld Swiss Exhibitors Committee.

The speakers said that they view smart watches as different markets with appeal that can coexist.
“I am convinced it is a different world,” Ritter said. “These two worlds are complimentary rather than antagonistic.”

Another topic at the press conference was the sudden removal in January of the 1.20 Swiss franc currency cap to the Euro. The Swiss National bank placed the currency peg three years so stabilize prices of exports in Europe. The removal in January by the Swiss National Bank caused the Swiss currency to rise against the Euro and other world currencies, increasing Swiss exports.

Thiébaud, said the currency change so far hasn’t impacted the market. Since January, Swiss exports have increased by 3.7% to $1.6 billion.

The press conference began with the announcement that Jacques J. Duchêne, former president of the Baselworld Exhibitors, died Tuesday (yesterday). It would have been his 60th appearance at the show, which dates back to 1917. He is normally on stage with the other speakers. The cause of death wasn’t revealed but it appears to have been unexpected as the other speakers appeared visibly shaken. There was a moment of silence for him.

“He was a man with a vision and his heart was in the right place,” said René Kamm, CEO of MCH Group, which operates the Basel exhibition center (Messe Basel).

“He knew about the real value of time and he always said to make the most of it,” added Thiébaud.

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Graff to Unveil Secret Watch at Baselworld 2015

Graff Diamonds will mark its second year at Baselworld by unveiling an elaborate brooch made with layers of sapphire and diamond beads that reveal a petite watch embellished with more diamonds and sapphires.

It is called the Sapphire and Diamond Beaded Tassel Secret Watch.

The brooch is a complex piece with multiple layers of beaded tassels that can be worn three ways: as a single piece, as individual brooches, or as a single brooch with a tassel. It uses more than 330 carats of sapphires and 40 carats of diamonds and took “many” months to make, the company said. One of the tassel groupings conceals a tiny pavé diamond watch face suspended from a platinum chain.

The jewelry watch was designed and crafted at Graff’s London headquarters. The technique used to create a cascading beaded tassel required matching sapphire beads in order to create a consistent three dimensional element no matter how the jewel is worn.

“For me, gemstone beads embody fluidity and movement so I created a design for a piece with row upon row of draped sapphires and diamonds, which lead the eye towards a dynamic three dimensional tassel,” said Anne-Eva Geffroy, Graff Diamonds design director. “The inclusion of a secret watch, delicately suspended from a platinum chain is highly unique, adding a further element of surprise and intrigue.”

Framing the tassel are two ornate brooches with pear shape sapphires at their centers embraced by an arrangement of white diamonds united by five rows of sapphire and diamond beads.

The watch is made in Graff tradition of jewelry timepieces Geffroy said.

“Jeweled and secret timepieces for ladies have formed an important part of our collection for many years and continue to be a popular choice among our clientele globally,” she said.

Baselworld will be held March 19 – 26 in Basel, Switzerland.

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Tradeshow Networking

Baselworld 2014 Photo credit: Courtesy of Baselworld

By Lisa Nikfarjam of Lisa Nik, Inc.

Every year it can seem like we are going around in a circle from one event to the next, one store to the next, and one tradeshow to the next. I've heard many retailers and manufacturers ask, “Are we doing too many tradeshows?” and “Maybe we should sit this one out?”

Having established a company during the past five years, I realize that every time I attend a tradeshow or visit a store, or made the effort to attend an event, something significant happens. Companies that have existed much longer may forget this and newer companies may feel hesitant or not even know about the networking opportunities at trade shows. 

We exhibit at the Centurion Jewelry show in Phoenix and at The Couture Show annually. In addition, I attend Baselworld. Walking around this fair, I am always surprised to experience the things that can happen while standing in line for cappuccino, waiting for someone at a hotel lobby and even on the airplane or train from Zurich. There is a special energy in Basel, maybe because the town is laid out in a way that makes things more intimate, making it much easier to bump into fellow jewelers. Since most people are not shy about eavesdropping, you can literally be having a conversation on the tram on the way to the fair and end up with three new friends and business contacts by the time you get there.

I would compare networking in Basel to the feeling that you may have had when doing an abroad program in college. I find that generally, the North Americans congregate together and are pretty easy to find. After walking the colored stone sections in Basel each day, hunting for new materials and colored gemstones, the end of day routine usually leads me to the Plaza, Ramada, or Three Kings lobby to meet up with friends and colleagues. With certainty I know that in these three places, I will find a familiar crowd of editors, retailers, tradeshow executives to share my findings with. 

There are also significant networking opportunities surrounding the JA New York shows, JCK Events, In Store, and the AGTA GemFair Tucson. This year, during the Tucson show, JCK is partnering with the American Gem Society Young Titleholders and Gen Next Jewelers to host a networking mixer on February 3 at the JW Marriott Hotel. For more information on how to attend this event, join GNJ on Facebook.

The Women's Jewelry Association, American Gem Society and GNJ associations make it easy to attend exciting awards ceremonies, mixers, and cocktail receptions. One of the most important galas you can attend in the industry is the WJA Awards for Excellence held during the summer. Whether you are a designer, editor, retailer, manufacturer or industry service provider, there is something special that can happen to you by attending this gala.      

To make the most of it, you have to treat all of these events as an extension of the tradeshows and be prepared to fearlessly talk to new people that you may have never met before. Following up with new friends and acquaintances is always easy when you have had fun mingling while at work.

Lisa Nikfarjam is founder of the jewelry design firm, Lisa Nik, a company that combines colored gemstones, diamonds, and artful elements to create fashionable jewelry that women around the world can enjoy on any occasion.

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First Jewelry Tradeshow in Freiburg Reports Positive Results, Plans Expansion

While at Baselworld I was planning to spend at least one day at the inaugural Jewellery & Gem Fair – Europe 2014 tradeshow held in Freiburg, Germany. However, a Lufthansa pilot strike forced me to leave Europe early so I didn’t get to attend.

The only report I received on opening day was that there was a good crowd and positive feeling. A report from UBM, the organizer of the B2B sourcing fair held April 1 - 4, said that 6,000 trade professionals attended. 

The show presented a range of goods including finished jewelry, diamonds and colored gemstones, jewelry mountings, and manufacturing tools and equipment.

Of the 6,000 visitors, about 4,280 were professional buyers, according to UBM. Most of these buyers were from Germany, Switzerland, Italy, Belgium and Brazil. The show is held at approximately the same time as Baselworld and is about an hour away by train, giving jewelry industry professionals the opportunity to attend both shows. 

“The vast majority of exhibitors and traders viewed the exhibition as a success. We are very pleased with the positive feedback from the market and see this as a confirmation that JGF Europe is now listed as an important industry event in the jewelry calendar,” said Wolfram Diener, senior VP of UBM Asia.

The 2015 edition is scheduled for March 22 to 25. Due to an increase in the demand for exhibition space, the fair will occupy an additional hall at Messe Freiburg, UBM said.

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MB&F Teams with L’Epée 1839 to Create Star Trek Themed Table Clock

Starfleet Machine in Dark Face

MB&F—in what is becoming a legacy for this young, innovative company—has again teamed up with a traditional mechanical movement manufacturer to create a bold concept in design and function. The “Starfleet Machine,” is a traditionally functional table clock with a futuristic appearance.

The clock combines the innovative design skills of the multi-award-winning MB&F (known for its cutting-edge “horological machines”) with the traditional fine craftsmanship and engineering skills of table clock manufacturer, L’Epée 1839. It was unveiled by both companies at Baselworld 2014. The inspiration of the clock is based on the MB&F’s founder, Maximilian Büsser’s passion for high-end mechanical watchmaking and Science Fiction, in this case the Star Trek television and film franchise. The idea Büsser said was “to boldly go where no clock designer had gone before.”

This introduction follows last year’s Baselworld release of the “Music Machine,” which was the first piece by the Geneva-based firm that wasn’t a timepiece but a music box, created with luxury music box maker, Reuge. It was shaped like a futuristic spaceship and the songs it played included the Star Wars and Star Trek themes.

Charris Yadigaroglou, MB&F chief communications officer, said during a meeting at Baselworld that the Starfleet Machine will be available in May and will be limited to 175 pieces in light and dark versions. Its cost is 28,000 Swiss francs ($31,763).

The C-shaped totally exposed and minimalistic Starfleet Machine looks different from any table clock ever made. The highly visible in-house movement has a power reserve of 40 days. (“You need a large fuel tank for long space voyages,” the company said.) Hours and minutes are indicated on the central black dome by hand-polished hands that follow the dome’s curved contours. Behind that, a smaller rotating dome, accompanied by a revolving “radar dish,” provides a view of remaining energy: five bars indicates the movement is fully wound; one bar means it has eight days of remaining power, which is the maximum power reserve on most table clocks.

Below 12 o’clock on the central hour-minute dome are double retrograde seconds in the form of what the company describes as “turret-mounted laser cannons.” The red-tipped cannons start in parallel and cross over one another before rapidly flying out again, an action marking off 20-second intervals.

L’Epée’s caliber has five main spring barrels that usually equips vertically standing clocks, but here it is laid flat. The escapement platform also had to be set horizontally.

Every component (except the 48 jewels) of the palladium-treated brass movement is designed and manufactured at L’Epée’s Swiss atelier. The gears and mainspring barrels are on full display due to the skeletonised mainplate and concentric C-shaped external structure in stainless steel. the clock can rest on both ends of its “vertical landing gear;” useful for turning it over to wind the mainspring and set the time.

It is covered with a glass dome, which isn’t shown in the photograph nor was it on display at Baselworld, Yadigaroglou said. 

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Graff Diamonds Unveils the $55 Million 'Hallucination' Multi-Colored Diamond Watch At Baselworld

Graff Diamonds has set the stage for a one-of-kind unveiling during Baselworld’s opening day. The first time exhibitor at the annual watch and jewelry fair will present the $55 million “Hallucination” ladies watch Thursday.

The London-based diamond and jewelry firm says the timepiece covered in a kaleidoscope of 110 carats of rare fancy colored diamonds is “estimated to be the most valuable watch ever created.”

Even the hour indicators on the petite dial of this candy-colored watch are made of diamonds. The company said a team of designers, gemologists and master craftsmen worked on this piece for thousands of hours to perfect the concept, which came directly from Laurence Graff, chairman of Graff Diamonds.

“The Graff Hallucination is a sculptural masterpiece; a celebration of the miracle of colored diamonds,” Laurence Graff said in a statement. “For many years I have thought about creating a truly remarkable watch that illustrates our all consuming passion for diamonds. The Hallucination has made my diamond dream a reality.”

Tomorrow I get to see it for myself.

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The Oris Aquis Depth Gauge

The second and final installment of watches I missed at Basleworld but were able to see during Las Vegas Jewelry Week, deals with a specialty watch called the Aquis Depth Gauge from Oris. According to the Swiss watch brand, it is the first dive watch that measures depth by allowing water to enter the timepiece.

The company says it has applied "Boyle Mariotte Law" (which describes how the pressure of a gas tends to decrease as the volume of a gas increases) to the patented timepiece. The watch has a gray-colored channel milled into the side that runs counterclockwise around the dial, stopping between one and two o'clock. At 12 o’clock there’s a small opening. On descent, the air inside the channel is compressed by the surrounding water pressure, allowing water to enter through the opening. The edge, in light grey and dark grey, differentiates between water and compressed air on the scale around the outside of the dial, indicating depth while descending or ascending.

Besides being a cool addition to a diver’s watch, Oris says the depth gauge keeps divers safe as the indicator benefits from no inertia, so actual depth readings are seen instantly, which is useful in decompression breaks in lesser depths. It’s water-resistant to 500 meters/50 bar.

Other features of the watch include an automatic movement with a date window at 6 o’clock. The 46mm watch also comes with a waterproof case that contains interchangeable rubber and metal straps and tools.

The cost is approximately $3,200.

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UBM to Launch Jewelry Fair in Germany during Baselworld 2014

Does Baselworld have competition? Hong Kong-based tradeshow and publishing company, UBM Asia, has been coy about this but its new jewelry show in Europe will butt heads with Baselworld in 2014.

This new tradeshow called, “Jewellery & Gem Fair – Europe,” will be held April 1 – 4, 2014, in Freiburg, Germany. The dates and location line up nicely with Baselworld 2014, which will be held March 27 – April 3, 2014. Freiburg is less than an hour away from Basel, Switzerland. In fact, it’s so close that when I attended Baselworld two years ago, I stayed in Freiburg

This announcement of a new tradeshow comes after the world’s largest watch and jewelry tradeshow finished a $454.5-million upgrade to the Messe Basel complex that came with several upset vendors. In fact, the 1,460 companies who exhibited at the recently concluded Baselworld 2013 was 355 fewer than those who exhibited the prior year.

The biggest player to exit Baselworld this year was David Yurman, after what was described as “‘exasperating’ back-and-forth with the powers that be at Baselworld.” People from several companies expressed their dissatisfaction to me with their booth placement, the substantial increase in the cost of participating this year, and the pressure to construct newer, larger and more expensive booths for the show. One company, which was one of the few companies to both remain in the same space and not expand their booth, told me they still had to pay 30 percent more than the prior year.

UBM Asia is refusing to acknowledge that they are creating a competing show, calling this new fair “a comprehensive sourcing fair offering a wide range of jewelry products.” It is being positioned “as a high-efficiency, high-level face-to-face jewelry business platform to create real business value for international suppliers and buyers.”

UBM says that more than 260 exhibitors from 25 countries and regions have reserved exhibition space a year ahead of its launch. “This figure represents more than 50 percent of the expected number of exhibitors and represents 60 percent of the total exhibition space which indicates the market’s enthusiasm for this new fair in Europe,” UBM said.

Exhibitors that have signed up are from Australia, Austria, Belgium, Brazil, China, Colombia, France, Germany, Hong Kong region, India, Israel, Italy, Japan, Korea, Poland, Russia, Spain, Sri Lanka, Switzerland, Taiwan, Thailand, Turkey, the United Kingdom, the United States and Zambia.

The fair is open to the jewelry trade, business professionals and members of the media. Free admission to save €30 will be granted to preregistered visitors and online preregistration opens in June 2013. 

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Baselworld’s ‘Opening Act’

Baselworld representatives at opening day press conference.

BASEL, Switzerland — Baselworld, the premiere event of the Swiss watch industry, on Wednesday unveiled the latest renovation to the multi-building complex that it calls home. The $454.5-million upgrade reflects the spectacular success of an industry that has defied the trials and tribulations of the worldwide economy and a product that has remained popular despite changing fashion and trends. It also is a response to an industry now dominated by a few luxury conglomerates.

The eight-day watch and jewelry fair actually opens Thursday. Wednesday was press day, where top officials discussed the tradeshow and the industry in general. The discussion of the new design was described as Baselworld’s “opening act” by Sylvie Ritter, managing director of the tradeshow.

While several buildings underwent dramatic change under the leadership of architects Herzog & de Meuron, most eyes are focused on Hall 1, now rebranded as the “Global Hall.” It is the main area for some of the most world-renowned watch and jewelry brands. This year, the area not only underwent dramatic structural change, but occupants changed as well. Several brands (mostly independent) were moved to other areas of the complex. Now brands represented by global conglomerates Swatch Group and LVMH far outnumber independent brands. These include Hublot, Tag Heuer, Breguet and Bulgari.

Independent brands that remain in Hall 1 include Patek Philippe, Rolex, and Ulysse Nardin.

René Kamm, CEO of MCH Group, which operates the Basel fairgrounds (Messe Basel), explained that the redesigned hall is reserved for “watch and jewelry brands that have a global impact and a worldwide reach.”

Speakers put on a unified front and spent a great of deal of time thanking exhibitors. However, change this dramatic does not come easy and several exhibitors who have lost their space in Hall 1 were not happy (although refusing to voice their displeasure publicly).

All of this change also came at a price. Several brand executives told me (or refused to dispute) that exhibiting in Hall 1—which includes the construction of multi-story, elaborate temporary showrooms that also have been upgraded this year—now costs upwards of $5 million.

Jacques J. Duchêne, president of the Baselworld Exhibitors’ Committee, said it is the domination of luxury conglomerates that has led to the changes at Baselworld.

“In the course of the past 15 years, the watch and jewelry industry has been through a consolidation process on a scale never witnessed before, and this has also had its effects on the challenges faced by production and marketing, which have changed radically,” Duchêne said. “Now it is a good thing to take note of changes and to adjust to them, but it is even better still to anticipate needs and to be in a position to satisfy them without delay when they arise.”

The price hike and the pressure to create more elaborate booths were also felt among exhibitors who don’t have the deep pockets of the brands in Hall 1. A few companies actually pulled out of the show. Perhaps seeing an opportunity, Hong Kong-based tradeshow and publishing company, UBM Asia, will open its first tradeshow in the European market next year in nearby Freiburg, Germany, with dates that overlap Baselworld.

 

The international press at the opening of Baselworld

But even though some are a bit disgruntled, the 1,460 companies from 40 countries exhibiting recognize the importance of being there in terms of sheer numbers, glamour and international attention. Many brands will bring international celebrities along to help present their new products. More than 3,500 journalists from 70 countries will be covering the event and approximately 100,000 people will attend.

The show is also buoyed by the amazing success of the Swiss watch industry. In 2012, the industry has produced another record year with exports totaling 21.4 billion Swiss francs ($22.6 billion), a 10.9 percent increase over 2011.

“Today, it is thanks to this excellent state of health of the industry that we are able to present the show to you in its attractive new look,” Duchêne said. 

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Is Hublot’s New Red Gold Watch Actually Red Gold?

Hublot's Big Bang Caviar Red Gold Diamonds ladies watch

For Hublot’s Baselworld preview, the Swiss luxury watch brand released images of its “5N red gold” Big Bang Caviar ladies watch, featuring a bezel set with 36 diamonds. As you can see in the picture it is quite a beauty. However, I have a bit of a dilemma that I will get to the bottom of eventually.

From my understanding of the different colors of gold, 5N refers to rose-colored gold, while 6N refers to red gold. Pink gold is usually 3N and 4N gold. The colors are based on the types of metals that are mixed with pure gold. Usually 18k gold, which I am assuming this watch contains although the materials don’t clearly state this, is mixed with cooper to make it red. Red gold can be made with 75 percent yellow gold and 25 percent cooper. However, I believe this is usually labeled as 5N gold, which refers to rose gold.

Anyone who has an answer is welcome to respond. I will ask Hublot when I get the chance. I’m sure there’s a simple explanation.

Now for the rest of story behind this watch. It’s based on the design of Hublot’s famous One Million $ Black Caviar, and directly inspired by the black ceramic Big Bang Black Caviar, which has been one of the brand's bestsellers since 2011. The 41mm watch has a sleek, graphic look with sharp angles and reliefs designed, cut, beveled and polished to look like the black baguette diamonds on the Caviar watch.

It's fitted with the HUB1112 self-winding mechanical movement. The 5N gold dial has a date window at 3 o'clock. It has a power reserve of 42 hours. The strap is made of either shiny silver or 5N gold colored calfskin sewn onto black rubber.

The timepiece also is available in a steel version, with 36 diamonds on the bezel and the same size, movement, look and workmanship as the “red” model. 

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Will New Jewelry Show Compete With Baselworld?

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Wolfram Diener (center) reading a prepared statement during a press conference at the September Hong Kong Jewellery & Gem Fair. Photo credit: Anthony DeMarco

HONG KONG — The competition among the numerous jewelry tradeshows around the world is fierce. So when a new show appears on the international calendar, one can’t help but notice which show will it be competing against.

UBM Asia has announced that it is entering the European market with Jewellery & Gem Fair – JGF Europe 2014, to be held in April 1 - 4, 2014 at the Messe Freiburg Exhibition and Convention Centre in Freiburg, Germany.

Wolfram Diener, senior VP, UBM Asia, Ltd., who made the announcement Thursday during a press conference at the September Hong KongJewellery & Gem Fair, made it a point to note its convenience to major jewelry trading hubs, such as Antwerp, Paris and Vicenza. What it’s really close to in both timing and distance is Baselworld, the world’s largest and most important watch and jewelry fair held in Basel, Switzerland. The two cities are so close that I stayed in Freiburg two years ago while attending Baselworld.

Diener downplayed that the new tradeshow will compete with Baselworld for exhibitors and buyers.

“It wouldn’t be our notion to rely on any other exhibitions for our success and lack of success and we expect that we can draw exhibitors or buyers from another show,” he said. “I think we have to build our own success. As for the timing of the event, it’s really difficult with a full calendar of jewelry tradeshows to not clash or be close to any other shows.”

However, a UBM official told me afterward that JGF Europe is most likely positioned to indeed compete with Baselworld. If this is true, then it will be the battle of titans. The September Hong Kong Jewellery & Gem Fair, which UBM owns, is the largest fine jewelry tradeshow in the world. However, as already noted, Baselworld is the largest watch and jewelry show in the world. It is also the world’s most prestigious tradeshow and it is where trends are set in the watch and jewelry world each year.

One thing that the new show will not be involved with, at least at this time, is watches, which is the lifeblood of Baselworld.

There are plenty of jewelry trade fairs in Europe but Diener says that the continent lacks “a real and comprehensive sourcing fair.” This new show is an attempt to fill this void.

“JGF Europe is positioned as high efficiency, high level, face-to-face jewelry business platform that will create real business value for the international suppliers and buyers,” he said. “It’s going to be a comprehensive jewelry show with jewelry, raw material and packaging and equipment”, he said. “It’s going to be a good balance of European and non-European exhibitors. That will be refreshingly different from other shows in Europe.”

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Baselworld 2012 Closes with Strong Results, Upbeat and Confident

Business was brisk at Baselworld 2012 and the attitude of both exhibitors and buyers was upbeat and confident.

A fractured arm kept me from attending Baselworld this year Fortunately, veteran watch journalist, William George Shuster, kindly agreed to take time from his busy schedule to write a few stories from the tradeshow. Below is his fourth and final report.

By William George Shuster
Special Correspondent

BASEL, Switzerland — The just-ended Baselworld 2012, the world’s most important and largest watch and jewelry tradeshow, was one of the most successful in its history.

The eight-day show closed March 15 with a 1 percent rise in attendance (to 104,300, its second-highest attendance ever); a 9 percent gain (3,320) in the international press corps at the show; and almost universal satisfaction among vendors—especially those in the luxury sector—with the business, orders and contacts they had; and widespread confidence among retail buyers.

"It was a fascinating week, and truly a good year for us exhibitors. We are highly satisfied,” said Jacques J. Duchêne, long-time chairman of the show’s Exhibitors' Committee. Francois Thiébaud, president of the Swiss Exhibitors Committee, agreed, calling the show a "complete success."

Positive comments. Indeed, this year’s edition of the annual watch and jewelry trade fair on the Rhine in Basel, Switzerland, evoked positive comments from most vendors, both large and small.

Swiss luxury sport brand TAG Heuer, for example, welcomed 30 percent more retailers than last year. It also introduced movie star Cameron Diaz as its new brand ambassador. Luxury watch Hublot—which unveiled its one-of-a-kind $5 million diamond-encrusted timepiece--took “considerably more orders than in [2011],” said CEO Ricardo Guadalupe. At Swiss watchmaker Ellicott, “Response to our new watches—especially the world’s thinnest minute repeater with perpetual calendar (hand-wound)—was very good,” said CEO Pierre-Andre Finazzi to the show’s newspaper, “and price points and units per order are more than last year.”

Despite economic problems in Europe, the U.S. and many other regions of the world, an upbeat business attitude pervaded the fair’s buying and selling. Luxury watch brand Patek Phillippe, for example, noted “an exceedingly positive mood amongst our customers throughout the entire show,” said Jasmine Steel, international communications director, while at the Bulova Corp. stand, “People are excited about our groundbreaking products and technologies,” said Harvey Kaplan, regional vice president. “Business is hot,” declared Jacques-Philippe Auriol, CEO of TechnoMarine watches, to the show’s daily newspaper. “The booth is packed and clients are smiling.”

At Seiko, “sales are much better than expected, and there’s great interest in our new Astron GPS watch,” said Karou Matsumoto, public relations general manager. “Customers are cautiously optimistic, and we share their optimism.”

‘Gratifying’ business. In the Hong Kong delegation of vendors, the show’s second largest, “Purchasing behavior was gratifying and the potential in the boom markets, including Russia and Latin America, highly promising,” said Ralph Chow, director of product promotion for the Hong Kong Trade Development Council.

Gem dealers and vendors of technology and equipment, too, were generally upbeat about business result, as were jewelry firms. The German precious gem house of Groh + Ripp, for example, surpassed 2011’s good results by 25 percent. “The quality of the visitors was exceedingly good,” added Managing Director Bernd Willy Ripp. At Spanish jewelry firm Carrera y Carrera, “For the first time in three years, we don’t hear about the [financial] crisis,” CEO Nathalie Guedj told the BaselWolrd Daily News. “That reflects the very good business the jewelry industry did in 2011. People are confident about the future.”

The Swiss watch delegation was especially pleased. Following a record-breaking year in exports in 2011 (29.8 million watches, valued at 19.3 billion Swiss francs, or about $21 billion), its strong results for Baselworld 2012—driven in lager part by ongoing, growing demand for luxury products, especially in Asia, and China particularly, and “certain emerging markets”—promise another good year for Swiss watchmakers. “While it is always difficult to anticipate results,” said the Swiss Exhibitors Committee’s closing report. “This 40th edition [of Baselworld] augurs well for positive progress in 2012. The 20 billion franc export threshold should be easily crossed and thereby represent the third consecutive growth year [in 2012].”

The enhanced interest by the global media in the show’s news and trends and the sizeable increase in journalists covering the show was especially important to both vendors and show officials. It indicates the importance the show has gained with the global press, and “For exhibitors, the worldwide reports in the specialist, daily, business and lifestyle media, as well as in the online media, TV and radio, are of major importance,” noted Baselworld’s closing report. Luxury watchmaker Patek Philippe, for example, received over 800 journalists at it stand, “a considerable increase over previous years,” noted spokesperson Jasmina Steele.

A new era. For the 104,300 visits from 100-plus nations and the 1,851 vendors from 41 countries, this was the last time they would work in the current exhibition stands or rush hurriedly through its halls. But many said they were already looking forward to what show officials call show’s “new era” starting in 2013.

The show’s owner, MCH Group, is revamping the current Exhibition Square and its surrounding buildings, with an immense makeover valued at just under half-a-billion dollars. The expensive and extensive transformation—including two new three-story building, a two-building above the formerly outside Exhibition Square, a new events hall, and the tearing down of some of the show’s older buildings—transformation is being handled by Basel-based architects Herzog & de Meuron, who also designed the famous Bird’s Nest national stadium in Beijing. The new complex will have 141,000 m2.

Show Director Sylvia Ritter admitted to “a certain amount of nostalgia” for the current buildings sand fair grounds, which will be gone in weeks. “At the same time, I am looking forward impatiently and with great expectations to the new era that will be dawning for this world show,” she said.

The new complex, opening in April 2013, will also involve the relocation of many watch exhibitors in the current Hall 1 and the spending of millions of dollars by exhibitors on new exhibition booths and presentations. “Nearly all the brands will now be investing in their new stands for Baselworld 2013,” said Duchene. “This highlights the fact that we have a great deal of confidence in this [trade show] event, because [it] will be giving us exhibitors even more opportunities to experience positive developments in future."

The next show, Baselworld 2013, will be held April 25 – May 2, 2013.

William George Shuster is a multi-award winning writer—including three Jesse H. Neal Award, business journalism's highest honor. He has 40 years experience as a journalist, author and editor. He is considered one of the world’s top watch industry journalists, covering the world of timepieces for the past 30 years.

Baselworld 2012: End of an Era; Baselworld 2013: A new era begins

Inside Hall 1, the Hall of Dreams, where all the major watch brands at Baselworld 2012 are located. There will be changes among the exhibitors.

A fractured arm kept me from attending Baselworld this year. Fortunately, I know some of the best writers and experts in the jewelry and watch industry. One of those folks is William George Shuster who has kindly agreed to take time from his busy schedule to write a few stories from the tradeshow. Below is his third report.

By William George Shuster
Special Correspondent

Baselworld 2012, the 40th annual edition of the world’s largest and most important watch and jewelry show, may be its most successful yet.

But it also marks the end of an era for the trade fair. Indeed, there was a sense of finality about Baselworld 2012 that had nothing to do with business.

The reason: An enormous and costly restructuring of trade fair buildings and a redesign and revamping of Exhibition Square, the outdoor center of the fair, so total that international visitors and exhibitors from next year onward will not recognize the long-time fair site.

Indeed, Sylvie Ritter, the show director, called Baselworld 2012, a “milestone in the history of our trade show” and “a decisive turning point” before the “start of a new era” in 2013.

This newest modernization in a long history of renovations and expansions of the Basel fairgrounds is scheduled to finished and ready for the 41st edition of Baselworld in April 2013.

Trade show facilities that have housed the annual Baselworld and earlier Swiss watch and jewelry fair for much of the 20th and early 21st centuries are being torn down and replaced with massive new, three-story structures, costing millions of dollars. Show officials promise this enormous undertaking, the most extensive modernization and expansion of the show facilities in its history, will benefit both visitors and exhibitors immensely.

“With investments of around 430 million Swiss francs ($460 million), we will be able to provide our exhibitors, our trade visitors and our journalists with a fantastic trade show infrastructure,” said René Kamm, CEO MCH Group.

The 95-year-old Hall 1, site of  major watch brand exhibitors and the fair ground’s oldest building, will be rebuilt, with its front dismantled, and extended into the exhibition square by a three strew building. Hall 3, across the street (site for gemstone and equipment exhibitors) is being torn down and replaced also with a new three story complex, with a multifunctional event hall (capable of holding up to 2,500 people) on the ground floor. Linking these two buildings will be linked by a two-story complex (starting the second floor level of Hall One, roofing over exhibition square. The exhibition square (pictured left) itself will become a large atrium, open to the public and the trams which will continue to regularly ride through it.

The new complex will have a total of 141,000 square meters and will “ensure a greater level of convenience for our visitors,” says a show report. The final outcome is going to do justice to the expectations of our exhibitors,” says Jacquares Diichene, trade show chairman.

Also changing will be the locations of many exhibitors, especially those watch vendors on the first floor in Hall 1. And members of the Hong Kong exhibitors pavilion, the show’s second largest, will be moving from Hall 6 to Hall 4.

William George Shuster is a multi-award winning writer—including three Jesse H. Neal Award, business journalism's highest honor. He has 40 years experience as a journalist, author and editor. He is considered one of the world’s top watch industry journalists, covering the world of timepieces for the past 30 years.

Baselworld 2012 is a Smorgasbord of Horological Delights

Seiko’s Astron GPS Solar watch

A fractured arm kept me from attending Baselworld this year. Fortunately, I know some of the best writers and experts in the jewelry and watch industry. One of those folks is William George Shuster who has kindly agreed to take time from his busy schedule to write a few stories from the tradeshow. Below is his second report.

By William George Shuster
Special Correspondent

BASEL, Switzerland — Baselworld, the world’s largest watch and jewelry trade fair is like an annual smorgasbord for watch enthusiasts, offering up everything from popularly-priced mass market watches to exquisite haute horlogerie timepieces and the 40th annual edition of this ever-expanding trade event (which runs until March 15), is no exception.

Travelers’ tool. A number of new models cater impressively to world and business travelers.

One standout is Seiko’s new Astron GPS Solar watch (top picture), presented with great flourish at the fair by Japan-based Seiko Watch Co., one of the world’s largest watchmakers. The impressive timepiece, powered by solar cells in the dial eliminating the need for batteries, can adjust itself to the time and location of the world’s 39 time zones at the gentle push of a button, thanks to signals from at least four GPS satellites, which the watch is always in contact. It is the first timepiece able to adapt immediately to all of the world’s time zones, wherever the wearer travels. That’s why Seiko calls it “the first global watch.”

Another notable timepiece in this category is Rolex’s new Oyster Perpetual Sky Dweller chronometer. The timepiece has a dual-time zone and an off-center innovative 24-hour display operated and adjusted by the watch’s bezel. It also has an annual calendar (the first Rolex watch to have one), uses a new movement and is the start of a new Rolex family.

Exquisite masterpiece. Meanwhile, German luxury watchmaker Glashütte Original, known for mechanical masterpieces, unveiled an exquisite masterpiece. Its limited edition Grande Cosmopolite Tourbillon is a world-first for world travelers, claims the company, and the “most unusual and sophisticated masterpiece in [our] history.” The complicated marvel lets a global traveler track the time of day or night simultaneously at home and while on the road in any two of the 37 world time zones. It accounts correctly for Daylight Saving Time or Standard Time, and can travel forward ‘time wise’ (Eastward) or backward (Westward). All time and date changes made by the wearer are displayed by a perpetual calendar geared to do so.

Completing this unique combination of horological complications—a world-first for mechanical watches, says the company—is a flying minute tourbillion (developed in 1920 in Glashütte). One interesting side effect: Its dial design looks like a “winking” happy face due to the placement of its day, month and day/night sundials.

If you want it, however, act quickly: The 43mm platinum timepiece is limited to 25 pieces worldwide and costs 325,000 Euros ($426,500).

Hublot $5 million watch

Of course, that’s chicken feed compared to the world’s most-expensive watch unveiled at Basel: The “Hublot $5 Million,” created by the innovative Swiss luxury watch brand. Also a world first, the 44mm mechanical timepiece is covered with 1,282 diamonds, weighing more than 100 carats, including six square stones, each more than three carats. It took one year to select the stones, and another 14 months to create the watch. Why did Hublot make it? Because it can.

Innovation & fun. The focus isn’t all on travelers watches, quartz-based technology or example of craftsmen’s art. Many of the watch business’s technological innovations in recent years have involved watches with mechanical movements (both hand-wound and self-winding). One notable at BaselWorld is Swiss watchmaker Ellicott’s tribute to John Ellicott, a 17th century English watchmaker. The watch is the world’s thinnest minute repeater with perpetual calendar, with a hand-wind mechanical movement measuring in at just a wispy 5.1mm.

Ritmo Mundo’s Reflex

And watches can be just plain fun, too. Ritmo Mundo’s Reflex ($150) is inspired by the “slap bracelet” from childhood. Gently tap the futuristic tongue-shaped timepiece against a wrist and the snap curl design, in brightly-colored smooth silicone immediately wraps around it, whatever the size. Its parallel-line LED digital linear display shows time and date, with numbered dots that immediately light up.

Star gazing. If BaselWorld is like a horological smorgasbord, it is also—pardon the abrupt shift in metaphor—a stage for many of the world’s celebrities,

BaselWorld isn’t only the center of the globe’s watch and jewelry business for a week. It is also a magnetic for celebrities. Among those seen during the show’s first days were international movie star, former U.S. governor and avid watch collector Arnold Schwarzenegger (stopping by to say hello to his friend Ali Soltani, owner of Ritmo Mundo watches); tennis champion Roger Federer (a Basel native) for luxury watch brand Rolex; and movie actress Cameron Diaz, brand ambassador for TAG Heuer Swiss luxury sport watches.

Also smiling prettily for their fans were Melinda Bam, Miss South Africa (brand ambassador for Jet Set watches); Alina Buchschacher Miss Switzerland (brand ambassador for Balman watches); and Justine De Jonckheere, Miss Belgium 2011, visited the show’s gemstone halls.

William George Shuster is a multi-award winning writer—including three Jesse H. Neal Award, business journalism's highest honor. He has 40 years experience as a journalist, author and editor. He is considered one of the world’s top watch industry journalists, covering the world of timepieces for the past 30 years.