The problems for MCH Group, who own and run Baselworld, have just taken a turn for the worse and might be fatal for the show.
The 2020 show was cancelled because of Covid19 and yesterday Rolex, Tudor, Patek Philippe, Chanel and Chopard announced they are leaving Baselworld. This adds to the Swatch Group who announced in 2018 they were leaving followed by Breitling, Corum and Maurice Lacroix.
Rolex et al are creating a new watch show with the FHH and will be linked to "Watches and Wonders" and other brands may be added. The show will be aimed at retailers, the press and VIP customers so it looks like the great unwashed will have to press our noses to the window!
MCH GROUP IS SURPRISED AT THE STATEMENTS MADE REGARDING THE BASELWORLD CANCELLATIONS
Here is the official statement from Baselworld's show organizer:
"It is with great surprise and equally great regret that the MCH Group takes note of the cancellation of major exhibitors at Baselworld. The new date for the unavoidable postponement of Baselworld 2020 was defined jointly with leading exhibitors. The objective was to find the earliest and best possible date for the industry following the Covid-19 related measures. The companies now "migrating" including Rolex spoke out in favour of a postponement to January 2021. They are also represented on the Exhibitors' Committee, where the future vision of Baselworld has been discussed on several occasions and has met with a positive response, as was also evidenced by countless individual discussions. The intention to move to Geneva has never been mentioned. The MCH Group must therefore conclude that the relevant plans have been in preparation for some time and that the discussions concerning the financial arrangements for the cancellation of Baselworld 2020 are now being put forward as an argument.
On the basis of the positive and supportive feedback received from exhibitors, especially the small and medium-sized exhibitors from the watch, jewellery, gemstone and supplier industries, the MCH Group decided last year to invest substantial sums in the further development of Baselworld and in the establishment of additional digital platforms. The MCH Group is convinced that, in addition to a physical platform, a connection with the community must be maintained throughout the year. More than ever before, it sees an opportunity to develop a modern platform in the watch and jewellery industry for brands that do not rely primarily on tradition, but above all on innovation. In the next few weeks, the MCH Group will be making a decision on the continuation of Baselworld and on investments in its further development, which is geared to the long term."