Editor’s Note
Bulgari has announced its withdrawal from the Baselworld 2020 trade fair, citing uncertainties related to travel and the ongoing coronavirus situation.
The jewelry and watch manufacturer Bulgari will not participate in the Baselworld 2020 trade fair. The company justifies its decision, among other reasons, by stating that travel activities are associated with uncertainties due to the coronavirus.
Furthermore, Bulgari had already participated in the LVMH Watch Week in Dubai in January.
Group CEO Jean-Christophe Babin is quoted as saying in a statement on Tuesday. The decision for 2021 and beyond will be made at the end of June.
Babin further stated that the main criteria for further participation in watch fairs are the schedule and costs, which are currently not compatible with commercial requirements and the profitability of the investments. The company has already met with its key customers and the media in Dubai and presented its most important new products for 2020.
It is further noted that the coronavirus has already led to the cancellation and postponement of many events. The spread of the novel lung disease is currently still difficult to control.
For Baselworld, the withdrawal of the world-famous brand comes at an unfavorable time. The watch and jewelry fair is struggling with dwindling exhibitor interest and wanted to counter this with a new concept. The Baselworld exhibition is scheduled to take place from April 30 to May 5, 2020.
Baselworld emphasized in a communiqué on Tuesday afternoon that the entire watch division of LVMH with its brands TAG Heuer, Hublot, and Zenith will participate in the exhibition. At the same time, it deeply regrets Bulgari’s decision to withdraw, Baselworld CEO Michel Loris-Melikoff is quoted as saying.
Furthermore, Baselworld is seeing increases again in all sectors after several dozen companies would join or return to the fair, the fair organizer continued. For example, there is a 50 percent increase in the jewelry sector (Gem & Pearls), while the technical sector will even grow by 100 percent.
The fair is monitoring the situation surrounding the coronavirus very closely together with the authorities, it is further stated. In Europe, however, all other conferences and events that are scheduled to take place around the same time as Baselworld are currently proceeding as planned.