The world’s biggest watch and jewelry event, the Baselworld exhibition, opens this week in Basel, Switzerland. Featuring over 1,800 exhibitors from more than 40 countries including renowned brands such as Rolex, Dior and Tag Heuer, the exhibition spreads over 160,000 square meters.
Over 100,000 visitors – industry experts, manufacturers and journalists from around the world – are expected to attend the exhibition to view the latest models, innovations and designs of the prestigious collections.
Starring this year’s event is luxury Swiss watchmaker Hublot’s diamond encrusted watch. This exquisite piece of jewelry, the result of 14 months of work, is set with more than 1,200 individual diamonds and valued at $5 million. In last year’s event, the Swiss watchmaker sold their Big Bang watch for $3 million almost instantly upon its release.
The watch industry has not been affected significantly by the economic downturn, possibly due to the growing demand for luxury watches in Asian countries, the destination of almost half of the Swiss industry exports.
The Israeli Diamond Industry will have a significant presence at Baselworld 2012, with 17 Israeli diamond companies participating. IDI will operate a prominently placed information and image booth in Hall 3.1, NO1. The Israeli diamond companies will exhibit in Hall 3.