As the clouds of uncertainty continue to hover ominously over the global economy, many watch brands did not venture outside their comfort zones at BaselWorld 2012.
This year, 'the watch industry is in a state of consolidation and there aren't spectacular trends', says Marc Glaser, managing director of Maurice Lacroix. 'But there are innovations, especially when it comes to materials and technology, such as new movements. I think the watch industry completely recovered in 2011 and this year we'll be doing well.'
Watch brands aren't alone in playing it safe, according to Thierry Stern, president of Patek Philippe. 'This year, retailers are willing to spend, but only on the right products, which means they don't want to take risks,' he says. 'They probably won't spend on new brands. While 2012 may still see the watch industry doing well, I remain vigilant because the growth in the Asian market is slowing down.'
Frances Yip, assistant general manager at King Fook, is cautiously optimistic for this year. 'The designs of the latest watches from most brands don't catch people off guard.
'Most of the BaselWorld 2012 novelties cater to the Chinese taste because China is the biggest consumer of watches in the world.' Dragon timepieces epitomise watch brands' predilection for the Oriental aesthetic. This year marks the Year of the Dragon and watchmakers have pulled out all the stops to reinvent the dragon watch.
The Galet Secret Dragon watch from Laurent Ferrier plays a game of hide-and-seek with the wearer. Its patented tourbillon double spiral movement makes it possible for two sapphire glasses to rotate 240 degrees downwards to reveal a grand feu enamel dial showing the dragon in its fierce glory.
The Petite Heure Minute Relief Dragon watch from Jaquet Droz depicts the hand-engraved mythical creature cradling a ruby on the black mother-of-pearl dial. But the real surprise is revealed when you flip the watch - the caseback displays a dragon tail engraved on the oscillating weight, bringing the animal to life.