Bulgari's announcement of its decision to withdraw from Baselworld was soon followed by the fair's response. And, above all, by the President of the Watch Division of the Lvmh Group, Stéphane Bianchi: "The Watch Division of the Lvmh Group, with TAG Heuer, Hublot and Zenith, remains loyal to Baselworld in 2020. We believe in the importance of a major event for the Swiss watch industry and we expect a fair with positive results, both in terms of image and sales, for our three Houses."
A 'major event', indeed. A moment of encounter for the whole sector and global visibility. The second is the most important point to reflect on, as we have already written in the past. A major international event puts the entire industry, for a few days, at the centre of the world's attention. An opportunity that cannot be lost in the fragmentation into a thousand regional events, following business logic, not always communication. Business and communication should instead return to dialogue, in a single annual event that puts all the spotlights on the sector. This is what one hoped would happen with the reunification of the dates of Sihh (now Watches & Wonders) and Baselworld, but the decision to organise the two fairs in late spring was unfortunate for this purpose.
Bulgari's demands remain for an exhibition in January and a review of costs. At the moment, there is still no news from the fairs about dates. Regarding costs, however, something is understood in the words of Michel Loris-Melikoff, Managing Director of Baselworld: "We are deeply sorry about Bulgari's decision not to participate in the next edition of Baselworld. We continue to work alongside the Lvmh Group's Watch Division and the TAG Heuer, Hublot and Zenith brands. We are working together with Stéphane Bianchi and his team to offer the best business platform to the Group's brands, with pragmatic cost control".
In the current confusion, which Jean-Christophe Babin in the interview in L'Orologio calls a real 'chaos', the Coronavirus epidemic is part of it. An unpredictable and unmanageable element. One can only wait and then assess the damage.
Bernard Arnault, owner of the Lvmh Group, recently stated that if the consequences of the epidemic were felt until March, 'it would not be terrible. If they lasted two years, it would be a different story'. Today, almost mid-February, it is still not possible to speculate. But only useless comparisons with Sars, an epidemic that lasted from late 2002 to July 2003. It is therefore understandable that each luxury company does its own accounts and makes decisions accordingly.
Bulgari is giving itself until the end of June - trusting that the question of dates will be clarified by then - to decide whether it will continue to exhibit at a trade fair from 2021 onwards. Even Breitling last year, when announcing its exit from the Basel Show, left the door open to the possibility of returning to the fair in 2021. Swatch Group for 2020 gave up its Time to Move, again because of the epidemic, but it is not known what the Group's intentions are for 2021.
So much remains to be written about the future of trade fairs, if young events such as Dubai Watch Week in November (in its fourth edition) or the Siar in Mexico City in October (thirteenth edition) are enjoying ever-increasing success. It seems premature to announce its end, as some inexplicably like to do.
Instead, it would be desirable for all market players to finally find the formula for Baselworld and Watches & Wonders to live and coexist in 2021. Above all, by remembering that watchmaking was born in Europe. And it is here that it must keep its roots in order to continue to grow and succeed.
