Vladimir Lenin allegedly once said that “there are decades where nothing happens; and there are weeks where decades happen”. Many decades ago, in February 2020, I began penning an article for Scottish Watches entitled “Baselworld is Dead Forever”.
The title was deliberately inflammatory, for the most part- the first line simply read “…or is it?” – but I certainly believed that the “postponement” of Basel 2020 to…eh, 2021, was a huge red flag, indicating an entity on the brink of financial collapse and reluctant to part with what little capital it had left.
From then, of course, the entire world continued to fall apart around us all, and the article was never completed- yet, two months later, we find ourselves waking up the news that Baselworld is, in all likelihood, Dead Forever.
Boy, 2020, you just keep outdoing yourself.
The news that Rolex, Patek, Tudor, Chopard and Chanel have all simultaneously pulled out of Baselworld signals, in no uncertain terms, the end of an era. I had literally just written, on the afternoon of the day before the announcement, that the former three of those brands’ decisions to clear their calendars and postpone all 2020 releases could signal the removal of the only pillars keeping Baselworld aloft, and it took less than 24 hours for this grim prophecy to come to fruition.
Not that I’m some kind of clairvoyant; the writing was very much on the wall, particularly after news of Rolex CIO Hubert du Plessix’s stern warning to MCH Group that Baselworld would not survive the January 2021 “postponement”. However, few could have predicted the exact form this separation would ultimately take. Whilst details will surely continue to emerge in coming weeks, what we know so far is this: the five brands will be forming a new, as-yet untitled, trade show of their own, in conjunction with Watches & Wonders organisers FHH.
Furthermore, it’s going to be happening in the same place, and *at the same time*, as Watches & Wonders- what exactly this is going to look like is yet to be clarified. I’m intrigued by this new fair’s apparent decision to U-turn on Baselworld’s newly-stated goal of opening up to end consumers. The message seems to be an unambiguous “f**k you” to those who had criticized Baselworld for being too retailer-centric, and for failing to keep up with the social media era’s rapidly growing enthusiast base. Indeed, it would appear that MCH’s intention to fundamentally change this aspect of Baselworld’s makeup was, in fact, working *against* the wishes of the leading brands, which is absolutely fascinating, and leaves more than a little bit of a sour taste in my mouth.
The new event will be “geared predominantly towards retailers, the press, and VIP customers”- and we all know how beloved “VIP customers” are by the enthusiast community, and anyone else stuck on a Rolex waiting list…! After years of calling MCH out-of-touch and tone deaf (I hold my hands up there), what if it turns out WE went after the wrong guys after all? Equally intriguing is the notion of this as a sweeping power-play on Rolex’s part. Evidently frustrated by whatever limitations and brick walls they were experiencing from MCH Group, the company has responded by delivering a decisive death blow to the ailing Baselworld, before spearheading a new endeavor where they, we can assume, will have far more space to actively call the shots. Indeed, Chopard CEO Karl-Friedrich Scheufele has literally referred to this as “the Rolex initiative” in this morning’s joint statement. Questions abound. With this show apparently running “in parallel” with Watches & Wonders, I.e. all under the same roof as Richemont, has the concept of Baselworld simply been snatched from its previous owner, and moved to Geneva? Is this a gigantic consolidation of Rolex’s already-considerable hold on the industry? Is this a decisive step towards total monopolization? Is this even going to work, or has hubris prevailed with potentially catastrophic consequences? Am I overreacting? What economic ramifications could this have for the city of Basel? Also, what can we expect from the now-stranded LVMH group? Hell, what actions can we expect from MCH at this point? Keep your eyes peeled for more analysis on Scottish Watches.
Edwin McLachlan is a musician and audio engineer based in Edinburgh’s bustling city centre, with a particular fondness for Soviet, Chinese and Japanese watchmakers. You can Instagram him at @edwin_mclachlan, and work with him at www.edwinmclachlan.com.
