Small independent watchmakers are not only winning market share from bigger rivals, they are stealing the show as well. Tired of Watches & Wonders’ high costs and of Richemont’s rule over what is the industry’s biggest annual trade show, a group of audacious watchmakers have set up their own rival event with help from big name rivals Bulgari and Breitling. Called Geneva Watch Days (GWD), the third edition is due to take place Aug. 29-Sept. 1. The event is more relaxed, flexible and open to more participants than Watches & Wonders, industry observers say.