Nick Hayek, CEO of Swatch Group, announced that the company would no longer participate in watch trade fairs. This decision was due to his frustration with the organizers and their lack of innovation and input from exhibitors. After the departure of Swatch Group, 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 Rolex’s president and CEO Jean-Frédéric Dufour, Hayek remained firm in his decision not to participate in industry events like Watches and Wonders.
However, 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 Swatch Group. While this participation does not reflect a long-term commitment from Swatch Group, it does suggest that they are exploring different avenues for showcasing their luxury watch brands.
