Around the Web: LVMH Group Pulls Out of Baselworld

In news that can only be thought of as the final nail in the coffin for the Baselworld trade show, Hodinkee and others are reporting this morning that the brands of the LVMH group are set to follow Rolex, Tudor, and Patek Philippe out of Basel and (presumably) to Geneva for a new fair in 2021.

LVMH’s watch brands include Hublot, Zenith, TAG Heuer, and Bulgari, all of whom had exhibited at Basel for years. It should be noted that Bulgari had independently dropped out of this year’s fair a few months back, citing Covid-19 related travel concerns as the reason. Now, with the rest of LVMH choosing to exit the rescheduled January edition of Baselworld, it leaves the long running fair in a state of disarray.

As we discussed on our recent podcast reacting to the news that Rolex and others had decided to leave Basel behind earlier this week, the small and midsize brands that we cover and look forward to seeing each year at the fair are now in a tough spot. Should Baselword continue (an open question at this point) the fair will be unlike any before it, and with so many pillars of the show choosing not to exhibit, the trickle down impact on brands less frequently covered by the media is hard to predict. And, of course, if the fair is indeed cancelled, many longtime exhibitors will have to find creative new ways to sell their products to retailers and put them in the hands of journalists. 

Check out the story on Hodinkee here. We’ll continue to bring you news on the state of Baselworld and any additional fallout from the announcements made this week.