Baselworld keeps losing blood. After Rolex, Tudor, Patek Phillipe, Chopard, and Chanel announced their leave from Baselworld recently, four LVMH Group Brands, Bvlgari, Hublot, TAG Heuer & Zenith, decided to leave the trade show as well.
While the shock wave created by the announcement of Rolex, Tudor, Patek Phillipe, Chopard, and Chanel continues, it became very difficult to predict the future of Baselworld, which is now hit by the LVMH Group brands’ leave, as there is almost no brand left in Hall 1.0 section of the trade show.
LVMH Group justifies its decision by the fact that this week’s previous withdrawals have “weakened representation of the Swiss watch industry and hence inevitably lower participation” and, as such, there are no reasons anymore for these brands to participate to Baselworld. The interesting part was the continuation of this statement. The famous group added its four brands, Bvlgari, Hublot, TAG Heuer & Zenith, will take place in an alternative organization planned to be held in Geneva in 2021 and afterward, where other Swiss watch brands will also participate. It is early to say that LVMH Group will stand side by side with names such as Rolex and Patek Philippe at Palexpo, but it is obvious that the possibilities indicate this situation directly.
As a result, we do not know how Baselworld and Watches & Wonders (formerly SIHH) will continue to exist in the world of watchmaking, but it seems that the heart of the Swiss Watch Industry is preparing to beat in Geneva in April 2021.
