Luxury-watch makers question the benefits of Baselworld fair

Baselworld, the world's biggest watch and jewellery fair, opened today in the Swiss city of Basel. Despite the fanfare, watch brands are still grappling with softening luxury sales in Asia as well as new challenges from the likes of Apple that have raised a question about the expense of being at the fair.

Baselworld has never really had to trade on its central importance to the watch industry. No other watch event in the world has as many brands showing (about 1,500) or as many new product releases to attract up to 150,000 attendees.

In short, Baselworld is a colossus, and the established thinking has been that unless you were inside the gilded tent of the Richemont group, which has its own fair in the Salon International d'Haute Horlogerie (SIHH) every January in Geneva, then you simply have to show in Basel to generate press for your watches and meet retailers from round the world.

For brands such as Breguet, Baselworld is a chance to showcase its technical mastery. The new Tradition Automatique Seconde Rétrograde 7097, an exquisitely finished watch, will be a hit with collectors and enthusiasts, and is almost guaranteed to sell well.

Similarly, for brands such as Glashütte Original, Baselworld illustrates their ability to find that balance between tradition and innovation with watches such as the PanoMatic Lunar and the PanoReserve, which make use of new materials but stay true to watchmaking design principles. Breguet, Glashütte Original, Patek Philippe, Rolex and a few others see Baselworld as a time to shine, to generate buzz and social media attention - and to hell with the cost.