Business News: Baselworld Inches Towards Calamity [Updated]
Writing in a manner graceful yet irate, the president of the exhibitors committee of Baselworld – mostly made up of brands that exhibit that the event – has penned a quietly scathing letter to the organisers of Baselworld. [The fair’s response to the letter can be found in the addendum at the end of the article.] The letter, which I received a copy of, expresses the exhibitors’ dissatisfaction at well, everything, from the new date for the event to the proposed refunds for the “postponed” fair, while asking for a refund of fees paid for the cancelled event. Significantly, the letter ends with: “we fear that this will be the end, pure and simple, of Baselworld…”. While on the surface this might seem to be a group of exhibitors pushing back, it is a more nuanced – and perhaps more uplifting – picture. The president of the exhibitors committee, Hubert J. du Plessix, has a day job: head of investments and logistics at Rolex, in addition to being the president of the watchmaker’s pension fund. If there was ever a sterling example of the philosophy “speak softly and carry a big stick” in watchmaking, this is it. Seen in that light, Mr du Plessix, and by extension his employer, are standing up for the little guy: defending the interests of exhibitors who can ill-afford Baselworld even in the best of times, in an attempt to help the wider watch industry that is now on the edge of the precipice. The central atrium of Messe Basel, the convention hall des...
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