Swatch Group CEO Nick Hayek made a clear announcement that the company would no longer participate in watch trade fairs. However, this decision raised questions about why in-house brands Blancpain and Breguet were present at the Geneva Watch Days event.
Hayek’s decision to pull out of traditional watch fairs, such as Baselworld, was due to his frustration with the organizers and their lack of innovation and input from exhibitors. After the Sw onds.atch Group’s departure, other major watch manufacturers followed suit, leading to the closure of Baselworld in 2021.
In response to the changing trade fair landscape, the Watches and Wonders fair was created in Geneva in 2022. Despite personal efforts from the fair’s organizers, including the president and CEO of Rolex, Jean-Frédéric Dufour, Nick Hayek remained firm in his decision not to participate in industry events like Watches and Wonders.
Surprisingly, recent reports indicate that Swatch Group’s luxury watch brands, Breguet and Blancpain, will be participating in the Geneva Watch Days. This decision may have been influenced by Nick Hayek’s nephew Marc Hayek, who oversees the luxury watch brands within the Swatch Group.
While the participation of Breguet and Blancpain at the Geneva Watch Days may suggest a change of heart from the Swatch Group CEO, Nick Hayek attributes this decision to his nephew Marc. The smaller, more independent nature of the Geneva Watch Days aligns better with the Swatch Group’s approach to industry events.
Ultimately, the decision for Breguet and Blancpain to participate in the Geneva Watch Days does not reflect a long-term commitment from the Swatch Group. While the motivation behind their involvement remains unclear, it is evident that the company is exploring different avenues for showcasing their luxury watch brands.