The downturn that has been gnawing at Swiss watchmakers for the past two years hasn't fully lifted, and the industry is still finding its footing in a world where Chinese appetite remains muted and a booming secondary market is increasingly the first port of call for buyers discouraged by ever-rising retail prices.
Soon industry politics came into play and some of the anchor brands began pulling out, creating their own tradeshow called the Salon International de la Haute Horlogerie (SIHH). This was yet another highly exclusive, industry-only event held annually in Switzerland. After just a few short years, the SIHH ultimately morphed into Watches and Wonders, the main event in the Swiss industry today.