Watch News | Is this the end of Baselworld?
Baselworld, the watch industry's oldest and largest trade show, may be paying the price for not putting brands first. Five of the fairs most important exhibitors: Rolex, Patek Philippe, Tudor, Chanel and Chopard have announced they will no longer exhibit at Baselworld and will instead take part in an event in Geneva.
Why watchmakers are boycotting Baselworld
But what is it that has caused this long standing tradition to be broken? Well, as we all know, we are currently facing a global pandemic, many nations are in total lockdown, forcing manufacturing to stop and events to be cancelled. Parent company of Baselword, MCH Group, announced the that the fair would be postponed until January 2021. However, watchmakers soon found out that the fees they had already paid were not 100% transferable. MCH offered watchmakers the chance to use 85 per cent of their 2020 outlay towards rebooking a space at next year’s show – effectively retaining 15 per cent in administration fees.
Announcement from the President of Patek Philippe
President of Patek Philippe, Thierry Stern, has announced, "“The decision to leave Baselworld was not an easy one to take. Today Patek Philippe is not in line with Baselworld’s vision any more. There have been too many discussions and unsolved problems. Trust is no longer present... That is why, following several discussions with Rolex and in agreement with other participating brands, we have decided to create, all together, a unique event in Geneva, representative of our savoir-faire.”
When will the Geneva show take place?
It is thought that the new trade show will take place next April in Geneva.
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