In another blow to the fate of next year's Baselworld, the Swiss watch manufactures under the LVMH Group, namely Hublot, Bulgari, TAG Heuer and Zenith, have decided to withdraw from the watch fair. They are still exploring potential event formats next year but it's certain that it will happen in Geneva, where Rolex and Patek Philippe are migrating to for their annual trade presentations.
"Grouping the entire Swiss watch industry in a single location, Geneva, and around a single date, is a major opportunity to at last revive a sector that all too many divisions and divergent interests have weakened compared to the rest of the luxury sector in which Bulgari is active and that is making much faster progress," Christophe Babin, CEO of Bulgari Group, said in the official statement. "We're looking forward to going to Geneva in April 2021, even though we still need to define the terms of our participation."
More details will emerge in the coming weeks.
Established more than 100 years ago, Baselworld has been the most important watch and jewellery fair, featuring more than 1,000 exhibitors and attracting more than 100,000 visitors comprising retailers, journalists and watch enthusiasts every year. In recent years, however, it has been criticised for being too expensive and arrogant. Swatch Group, which owns Omega, Blancpain and Breguet, was the first to exit in 2018.