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Top executives will have been gripping their mobile phones a little harder this week as they wait to hear whether they have been released, promoted, reassigned or overlooked.
Share prices for the major luxury conglomerates have risen sharply this week as hopes rise that the spread of Covid-19 Coronavirus is being contained.
There is hope that this month will be the nadir of the crisis as far as Swatch Group is concerned because life is slowly returning to normal in China.
Chief Executive Nick Hayek suggests Asian markets are bouncing back but Europe and United States are at a standstill.
Nick Hayek admits sales in China have taken a massive hit but group is well-placed to weather current storm.
LVMH's share priced dropped by 5% on Monday as a surge in Coronavirus cases was reported in Italy. Swatch Group and Richemont were down by similar percentages.
Whatever Swatch Group does next, it must maintain strong relationships with retail partners that it needs to represent its brands on the ground.
Managing director Michel Loris-Melikoff tells WatchPro that there are currently no changes to its plan.
Hong Kong's Trade Development Council, which organizes the show, issues a statement saying safety of exhibitors and buyers must be the priority.
Corporate statement says Time to Move event, scheduled for first week of March, has been scratched over concerns relating to Chinese outbreak.