Big News Swatch Group Withdraws From 2019 Basel International Watch & Jewellery Show
According to the Swiss newspaper NZZ am Sonntag, Switzerland’s largest watch and jewellery show, Baselworld, will bid farewell to its largest exhibitor, the Swatch Group, next year.
Mr. Nick Hayek, CEO of Swatch Group, told NZZ am Sonntag that the watch business has gradually become ‘more transparent, faster and more spontaneous’, and the significance and role of Baselworld is weakening. In criticizing Baselworld, Mr. Nick Hayek pointed out that ‘we are not here to share the expensive construction costs of Herzog & de Meuron.’ The current Baselworld exhibition center was built by this famous Swiss architectural firm and was established in 2013. Opening of the year.
The Swatch Group has 18 watchmaking brands, including heavyweights such as OMEGA, Longines and Tissot. Each year the Swatch Group participates in Baselworld with a budget of approximately 50 million Swiss francs (including transportation and accommodation), making it the exhibitor with the highest budget for participation. The departure of Swatch Group will be a heavy blow to Baselworld host MCH Group (which also owns the franchise of Art Basel), because Baselworld is the most profitable project of MCH Group.
In 2018, the number of Baselworld exhibitors dropped sharply to 650, and many exhibitors complained about Baselworld’s high fees and poor facilities. Except for the Swatch Group, other major exhibitors such as Rolex, Chopard and LVMH have not indicated plans to leave the show.
In addition, as of now, the Swatch Group has not released an official announcement, so the accuracy of the news has yet to be verified. Let us continue to pay attention to developments.