Rolex, Patek Philippe and Others to Leave Baselworld and Start New Watch Trade Show

Rolex, Patek Philippe, Chanel, Chopard and Tudor are among several prominent watch brands that have chosen to cancel their attendance at the rescheduled Baselworld 2021 in favor of creating their own event.

This year the COVID-19 pandemic has already led to many cancellations and postponements of prominent luxury-focused events around the world and organizers have been holding out hope to have things back on track by 2021 by working hard to reschedule events where possible.

One such event that has been dealt an extra blow is the Baseworld Watch Show which has caught organizers MCH Group by surprise after it was announced that Rolex, Patek Philippe, Chanel, Chopard, and Tudor would no longer be exhibiting at the newly scheduled Baselworld 2021 in January and would instead be creating their own watch show to be held at the same time as Watches & Wonder in Geneva.

In a statement released the same day as plans for the new show were revealed, Baselworld organizers MCH Group spoke of their surprise and regret at the actions of Rolex and accompanying brands given that they had supported the postponement to January 2021 and had made no prior mention of a desire to move to Geneva, concluding that these plans must have been well underway previously.

There were however financial issues already brewing as confusion surrounding the payments/refunds began to emerge from April 3 as it appeared that MCH Group would be withholding 85% of exhibitors fees for the 2020 Show on the grounds of those fees being applied to the 2021 event (with the remaining 15% being forfeited) or exhibitors given a second option to receive a 30% cash refund, have 40% applied to the 2021 event and forfeit 30% fees as part of the “out of pocket costs” costs associated with the canceled 2020 event.

In a previous letter addressed to Baselworld organizers MCH Group regarding the postponement of this years show, Rolex executive and Baselworld President of the Exhibitors Committee Hubert du Plessix asks for full refunds to be issued to the brands saying it would be an “elegant solution [that] would be the best way to encourage exhibitors to participate in a future edition of Baselworld…Otherwise, we fear that this will be the end, pure and simple, of Baselworld, especially since the dates chosen in January 2021 are not suitable for the jewelry, gemstones and pearls sector, and that coordination with Watches & Wonders (SIHH) no longer exists.”

With brands like Breitling and Grand Seiko having already left Baselworld and the LVMH family of watch brands holding their own Dubai based trade show, Baselworld is no doubt in an unenviable position and having previously committed to a substantial investment in the development of the event and additional digital platforms, MCH Group have said they will now be looking to make a decision in the coming weeks regarding the continuation of Baselworld and further development investments to ensure their long term future.

The new proposed show that Rolex, Patek Philippe, Chanel, Chopard, and Tudor have all agreed to be a part of will be held April 2021 in Geneva at the same time as Watches & Wonder (previously known as SIHH) and created in collaboration with Fondation de la Haute Horlogerie (FHH), who are also the organizers behind Watches & Wonder watch show.

To complement the consumer-focused Watches & Wonder watch show, the new trade show will be a professional event primarily focused on retailers, the press and VIP customers.

Speaking on their decision to withdraw from Baselworld, Jean-Frédéric Dufour, Chief Executive Officer, Rolex SA, and Board Member, Montres Tudor SA, said: “We have taken part in Baselworld since 1939. Unfortunately, given the way the event has evolved and the recent decisions made by MCH Group, and in spite of the great attachment we had to this watch show, we have decided to withdraw. Following discussions initiated by Rolex, it seemed only natural to create a new event with partners that share our vision and our endless, unwavering support for the Swiss watchmaking sector. This will allow us to present our new watches in line with our needs and expectations, to join forces and better defend the interests of the industry.”

Likewise Thierry Stern, President, Patek Philippe commented, “The decision to leave Baselworld was not an easy one to take for me, being the fourth generation of the Stern family to participate to this traditional yearly event. But life evolves constantly, things change and people change as well, whether it is at the level of those responsible for the watch fair organization, the brands or the clients. We constantly have to adapt ourselves, question what we do, since what was right yesterday may not necessarily be valid today!

Today Patek Philippe is not in line with Baselworld’s vision anymore, there have been too many discussions and unsolved problems, trust is no longer present. We need to answer the legitimate needs of our retailers, the clients and the press from around the world. They have to be able to discover the new models from Swiss watchmakers each year, at one time, in one place, and this in the most professional manner possible. That is why, following several discussions with Rolex and in agreement with other participating brands, we have decided to create, all together, a unique event in Geneva, representative of our savoir-faire.“

Co-President of Chopard, Karl-Friedrich Scheufele also gave support to the new event saying, “Chopard first exhibited at the Basel fair in 1964 with a stand of some 25 square metres. After careful consideration, our family decided to support the Rolex initiative and retire from Baselworld – a painful decision. The creation of this new watch show in Geneva, in parallel to Watches & Wonders, will allow us to better serve our watchmaking partners and our customers. Through the alliance, these grandes maisons will also be able to collaborate in promoting the values and best interests of Swiss watchmaking.”

With several brands having delayed all new 2020 releases until next year, horological aficionado’s will be sure to eagerly descend on Geneva next April to view the latest pieces on offer from all the brands exhibiting at Watches & Wonder and the new show.