SIHH 2009 Review: Panerai, Cartier, and a new Brand ¶
This year at the 2009 SIHH show in Geneva, the new releases reflected the slowing down economy and humble state of the international luxury market. Although a few very expensive watches and movements were released, most models showcased a subdued, classic style and most of the new super-complicated models came from the old established brands such as Cartier and Vacheron Constantin.
Two companies that showed a conservative approach to 2009 are Panerai and Audemars Piguet. Although AP flexed their horological muscle a little bit with the release of a couple of ultra-complicated models, the majority of new watches were stainless steel Offshores. Audemars also reported a 40% decrease in attendance to the SIHH this year and announced that they will produce considerably fewer watches in 2009.
Panerai's new models also fell into the category of mostly stainless non-to-mid complicated timepieces. Panerai's new in-house movement is also pretty toned-down. The P9000 caliber base features only hours, minutes, small seconds, date, and 3-day power reserve. It will be the least expensive of the Panerai manufacture movements.
Roger Dubuis and Harry Winston negated the recession by both releasing extremely complicated and expensive double tourbillon watches. Another sign that the Swiss watch industry is still strong is Ralph Lauren's partnership with the Richemont Group to release a new line of luxury watches to represent the designer's name. The first Ralph Lauren watches present elegance and simplicity and will feature movements from some of the best-known Richemont companies such as Jaeger LeCoultre.