LVMH Group’s TAG Heuer, Hublot, Bvlgari, and Zenith the Latest to Leave Baselworld Show

LVMH Group has become the last big player to join the exodus from Baselworld, taking with it TAG Heuer, Hublot, Bvlgari and Zenith.

It’s been a hard week for Baselworld organizers MCH Group, to say the least.

With the surprise withdrawal of Rolex and some of the largest names in the Swiss watchmaking industry earlier this week from the rescheduled 2021 Baselworld, this new blow from the LVMH Group may be the final nail in the coffin for what was once the world’s largest and longest-running watch and jewelry show.

Bvlgari had already withdrawn officially from the 2020 event in February citing the COVID-19 as its main concern however the most recent decision made in conjunction with parent company LVMH Group signaled the end for all future plans with Baselworld.

LVMH Group’s official statement regarding their decision sums it up succinctly:

“The Swiss watch Manufactures of the LVMH Group, including the LVMH Watchmaking Division (TAG Heuer, Hublot and Zenith) and the House of Bvlgari, have taken note of the departure of Rolex, Tudor, Patek Philippe, Chanel and Chopard from the Baselworld show scheduled for January 2021. Within this context of clearly weakened representation of the Swiss watch industry and hence inevitably lower participation, it appears clear to the brands composing the Division and to the House of Bvlgari that they must also withdraw in order to preserve their image and their relations with their clients as well with the media. They will therefore not be taking part in the 2021 edition of Baselworld.

The four Maisons are examining various potential event formats corresponding to the need to present their strategic directions and new products to their commercial partners – as well as to the international press – next year. The LVMH Watchmaking Division on the one hand, and Bvlgari on the other, will decide on their plans in the coming weeks, according to their respective objectives.”

Commenting on their departure from Baselworld, Stéphane Bianchi, CEO of Watchmaking Division LVMH, said: “We are sorry to have to leave this over 100-year-old Baselworld event, to which our maisons have been consistently loyal. It is nonetheless clear that we must respond quickly and make other arrangements. We are facing an opportunity to reinvent the format and content of one of the key moments of our watchmaking year, which presented both a major commercial challenge and a lever of influence for our brands. With this in mind, we will do our utmost to be present alongside the other prestigious maisons that will gather in Geneva in April 2021 and thereby meet the requirements of our partners and clients while offering them an unrivalled experience.”

Likewise, the CEO of Bvlgari Group, Jean-Christophe Babin agreed and also expressed enthusiasm towards new opportunities saying, “Grouping the entire Swiss watch industry in a single location, Geneva – the historical capital of watchmaking – and around a single date is a major opportunity to at last revive a sector that all too many divisions and divergent interests have weakened, compared to the rest of the luxury sector in which Bulgari is active and that is making much faster progress. We are looking forward to going to Geneva in April 2021, even though we still need to define the terms of our participation, which we will specify in the coming weeks. We are also delighted not to have to make up for the lack of institutional watch shows, which in 2020 forced us to take tactical initiatives that were necessary in the short term but undesirable in the medium term.”

While no further information has been given regarding specifics as to whether the brands will be joining the new show being held by Rolex at Geneva Palexpo alongside Watches & Wonders in April 2021 or planning their own event, it is clear that decisions will be made independently by both LVMH Watchmaking Division (TAG Heuer, Hublot and Zenith) and Bvlgari based on their individual interests.