SIHH 2012 - Prudence is a virtue

#wtsihh | Despite a high-flying year in 2011, with the world economy still on an unsteady footing, the eighteen brands exhibiting at the 22nd Salon International de la Haute Horlogerie refused to be lured by the siren song of record export levels. But nor did they rein in their unparalleled expertise.

HH Magazine - 2 february 2012

Christophe Roulet

The watch industry held its first major gathering for 2012 in an ambivalent climate. European debt crisis, economic upturn in the US that has yet to pick up speed, and a slowdown in growth among the Asian tigers contrasted with the previous year's excellent performance by Swiss watches. At end November 2011, exports of Swiss timepieces had already exceeded the record level of 2008. Growth for the full twelve months is forecast at 20%, well in excess of CHF 18 billion (USD 19,6 billion / EUR 14,9 billion ). This ambivalence was reflected by the mood of cautious optimism at the 22nd Salon International de la Haute Horlogerie (SIHH), held January 16th to 20th. Prudence continues to guide brands in the markets, as Philippe Léopold-Metzger, Chief Executive of Piaget, confirmed: "The headlong rush to launch new models isn't healthy. A brand must learn to resist."

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Novelty 2012: The Vacheron Constantin Malte Tourbillon. © Vacheron Constantin