Deployant
Baselworld cancels 2021 show. Full Release.
The MCH Group and representatives of the exhibitors have reached agreement on the settlement for the cancelled Baselworld 2020, and cancels Baselworld 2021.
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Deployant
The MCH Group and representatives of the exhibitors have reached agreement on the settlement for the cancelled Baselworld 2020, and cancels Baselworld 2021.
SJX Watches
This year’s Baselworld saga has finally arrived at its epilogue and the inevitable outcome has been made official: MCH Group just announced that Baselworld 2021 has been cancelled. Simultaneously, the event’s organisers also announced that an “agreement on the settlement for the cancelled Baselworld 2020” – presumably with more substantial refunds – was reached with exhibiting brands. That settles the brief-but-intense circumstances surrounding Baselworld 2020, which began when this year’s fair was cancelled and then “postponed” to January 2021. Along with the “postponement”, exhibitors for the 2020 fair were only offered partial refunds of the event fees. Both moves, which were regarded as unilateral and unfair by watch brands, led to a stinging response from the exhibitors, led by their committee chairman, a senior executive of Rolex, the world’s largest luxury watch brand. A week later, Baselworld suffered its death blow when the fair’s biggest exhibitors – Rolex, Patek Philippe, Chanel, Chopard, and Tudor – pulled out of the event and decamped to Geneva, where they will join Watches & Wonders in a brand-new event that’ll take place in April 2021. They were followed shortly after by the brands owned by LVMH, which include Hublot and Bulgari. With that, the cancellation of Baselworld 2021 was fait accompli, even though Baselworld responded by insinuating the exhibitors had long been conspiring to exit the event. The cavernous Rolex booth...
Time+Tide
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Audemars Piguet is one of the most recognised brands in haute horlogerie, but since François-Henry Bennahmias took over as chief executive in 2012, it has enjoyed turbocharged growth, with turnover more than doubling to over a billion francs in 2019. As the crisis hit, Audemars Piguet was still in the midst of executing some drastic strategic changes in the brand’s distribution and marketing – eliminating all third-party retail as well as pulling out from the SIHH trade fair. Has the crisis changed its plans? François-Henry Bennahmias answers our questions from his home in Nyon, a town 40 minutes to Audemars Piguet’s headquarters in Le Brassus (which just opens its new museum shaped like a glass spiral). Francois-Henri at home in Nyon How has this crisis impacted your business? All our manufacturing sites are closed; 85% of our stores worldwide are closed. So we are drastically impacted as you can imagine. 2020 will be affected in a substantial way. But with what our team have achieved in the past eight years, Audemars Piguet can weather the storm. Our financial health is good. We are able to keep every single employee around the world on the payroll. That is mainly what we have been working on: taking care of our people, of their health and of their jobs. In this regard, I would say that all is good! Obviously, the situation calls for a deep reflection on the “after”. Anyone who believes that we will go back to the normal we once knew is completely mistaken. ...
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