The 42nd HKTDC Hong Kong Watch & Clock Fair and 11th Salon de TE recently concluded, with nearly 15,000 buyers from 95 countries and regions attending the physical exhibitions. The online exhibitions continued until 16 September.
One of the highlights of the fair was the announcement of the winners of the Hong Kong Watch Design Competition. Tam Kwok Tung's Scroll Bar won the Open Group, while Wong Yin Yeung's TANZZLE won the Student Group.
The event also featured the Hong Kong International Watch Forum and Asian Watch Conference, which discussed the industry's latest trends and outlook. Key takeaways include:
• The watch and clock industry in Mainland China is recovering, with profitability trends improving and the market trending upwards.
• Overseas makers' prices and volumes are also growing, with Japan, Germany, and Switzerland all experiencing positive results in the first half of 2023.
• Sustainability is shaping the future of watchmaking, with global brands integrating ESG principles into every facet of their operations.
• Domestically established Chinese watch brands are gaining global recognition and prominence, with Shenzhen emerging as a major hub for watch design and production.
• Independent Swiss watchmakers are embracing innovative design concepts and development directions.
The event was a success, highlighting the resilience and innovation of the watch and clock industry. The insights shared at the conferences provide valuable guidance for businesses as they navigate the changing market landscape.