Editor’s Note
The seismic shifts in the watch industry’s exhibition calendar continue, with LVMH’s major brands joining a growing exodus from Baselworld. This move underscores a broader reevaluation of traditional trade shows in the digital age, accelerated by the pandemic.
Following the announcements by Rolex, Chanel, Tudor, Patek Philippe, and Chopard to withdraw from the Baselworld Watch and Jewellery Show, tentatively scheduled for January 2021, the four major watch brands under the LVMH group have also decided to formally exit the Basel fair starting from 2021. These brands include Bvlgari, TAG Heuer, Hublot, and Zenith. LVMH’s decision is, of course, related to the global COVID-19 pandemic, but it also reflects an awareness of the fair’s diminishing representative status…
The Basel Watch and Jewellery Show is one of the world’s largest watch and jewellery fairs, with its history dating back to 1917. According to statistics, many exhibitors spend up to 50 million Swiss Francs annually on staff, hotel accommodations, and clients.
However, in recent years, many brands have gradually announced their withdrawal from the watch fair. For instance, this year, brands such as Audemars Piguet and Richard Mille have declared they will no longer participate, while Gucci officially exited last year.
Perhaps the LVMH group has precisely recognized the weakening representative status of this fair within the Swiss watchmaking industry. Considering the maintenance of brand image, customer relations, and media relations, it ultimately made the decision to withdraw from the Baselworld Watch and Jewellery Show starting in 2021.
Regarding this decision, Stéphane Bianchi, President of the LVMH Watch Division, stated:
Bianchi’s statement implies that the decision was also made due to the severity of the pandemic. Undoubtedly, the global outbreak has forced the cancellation of many established plans in the fashion industry, and revenues have plummeted.
Additionally, Jean-Christophe Babin, Global President of Bvlgari, commented on the news:
Having been established for over a century, Baselworld saw participation from over 2,000 exhibitors at its peak. However, with the contraction of the watch market in recent years and no signs of improvement in the pandemic, concerns are growing about the future of this historically significant watch fair.