Baselworld 2021? As Rolex, Patek Philippe, Tudor, Chopard and Chanel quit, can the world’s biggest watch fair survive?

Apr 15 , 2020

Following the departure of Rolex, Patek Philippe, Tudor, Chopard and Chanel, what’s next for Baselworld? Photo: Baselworld

Following the announcement that Rolex, Patek Philippe, Tudor, Chopard and Chanel have collectively quit to found a new exhibition, what’s next for the century-old Swiss watch fair?

Following the cancellation of Baselworld 2020, the event takes another big hit as five of its biggest exhibiting brands – Rolex, Patek Philippe, Tudor, Chopard and Chanel – announced their exodus to form a new event in 2021.

In an open letter issued by Rolex, the big five reveal they’re working in collaboration with the Fondation de la Haute Horlogerie (FHH) to organise a new show in Geneva in 2021. This new show will be linked to Watches & Wonders, which has also been cancelled this year and will resume in April 2021.

FHH is the organiser of Salon International de la Haute Horlogerie (SIHH), which has now been rebranded as Watches & Wonders Geneva. The Richemont Group, which owns brands including Panerai and Vacheron Constantin, along with a number of independent watch brands, are also participants of Watches & Wonders.

In the letter, Thierry Stern, president of Patek Philippe, shares that as a fourth generation watchmaker exhibiting at Baselworld, the show no longer reflects their desired purpose. “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,” Stern says, with reference to the geographical distance and the months between the two largest annual watch shows, Watches & Wonders and Baselworld.

Rolex’s CEO Jean-Frédéric Dufour said that a more tight-knit approach to the two watch fairs is best for strengthening the industry. “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,” he said. “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.”

Baselworld’s decision to offer only partial refunds or partial credits carried forward to the cost of next year’s show, following the cancellation of its 2020 edition due to Covid-19, left many exhibitors feeling dissatisfied.

The fair organiser also made the unilateral decision to move Baselworld 2021 to January, according to the joint statement, instead of rescheduling to its original time in April, without consulting any of the exhibitors.

Baselworld organiser MCH Group released its own statement expressing surprise at the five watch brands’ decision, stating that, “The companies now ‘migrating’ – including Rolex – spoke out in favour of a postponement to January 2021”, and that the desire for the brands to relocate their launches from Basel to Geneva was never brought up.