Driving force for the luxury goods industry ?

Published on by The Inquirer

Basel, Switzerland.

BASELWORLD - the world's largest and most important trade show for the watch and jewellery industry.Somes are of the opinion that is extremely important for expanding their business activities and it offers a first-class networking platform, given that the world’s media are present- When It's such a motor that drives the industry, one might ask how this one is weathering the global recession ?


In an  public relations -opening speech, René Kamm  -CEO MCH group, spoke alike a public official hard reassuring his fellow citizens by the smoothered crisis effect felt on the luxury & watch industry :

" Hard as it may sound, in light of the current situation, something good always comes out of a crisis"."More and more, consumers are rediscovering, what safe values are. Well-established brands and stable companies are able to benefit from this development."

In others words, more we're experiencing tough times, more we seek refuge in luxury goods as the Harry Winston Opus 9 tagged $180,000.The price left me quite dubious for a single recession proof refuge.Let's wait the pre-sales report and we'll see..

With a number of buyers definetly shrinking this year even if no fewer than  40 companies have invested in the construction of a new stand(pre september 15), Silver Ritter  -Show Director BASELWORLD - admitted  that we're are facing what can be called the negative side of globalisation - an ultra-fast and almost simultaneous fall in demand, across all markets.

Published on BUSINESS

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