What Happens In Basel Stays In Geneva

What a day it has been. We have learned today just like all of you that the main big brands of Baselworld have decided to leave the show and move to Geneva alongside Watches and Wonders  (ex SIHH).

For those of us that have been following all the latest changes and news in the watch industry, it doesn’t come as a surprise. Last week, a letter signed by both CEOs of Rolex and Patek Philippe was sent to MCH, the company that owns Baselworld, asking them to reimburse all the brands that had paid for their booths in anticipation of the show of 2020. The tone used by Rolex was pretty assertive, although,  as always with the Swiss, sugarcoated. But it didn’t leave room for interpretation. Either you reimburse the brands, or it will be the end of Baselworld.

Well. The request was simply refused by MCH. And today the blade fell on the head of the show (I know, I’m French, and we used the guillotine back then).

So what does it mean for the future of the industry? Is it good news or bad news? Asides from the emotional and nostalgic aspect of it, as Baselworld has been around for decades, was it the inevitable path that the industry was meant to take? The FHH has been an incredible player in all of this. And I must say that I am very impressed by the way the organization has grown in the last few years. They have managed to create a real brand that has done a lot of cultural and educational initiatives throughout the years. I personally got to know many of the organizers and directors of the FHH when I met with them in Miami to participate in the development of the first two Watches and Wonders and the planning of the third that was then cancelled once they decided to launch it in Geneva. The team is young, and dynamic which is a very nice change in an industry that is aging and becoming less and less relevant to our generation (and yes I am including myself in the new generation. 40’s are the new 30’s). The FHH succeeding in bringing together the giants of Baselworld with Watches and Wonders is a huge accomplishment.

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We are also finally seeing some unity and solidarity in this industry that has shown very little of this overtime. The question is will Swatch Group join? Will Richemont ever forgive Georges Kern for taking over Breitling, and invite the brand to be part of the new festivities? And will the LVMH group decide to bring their brands to Palexpo or will they remain in the beautiful hotel suites that they rented last year?

The other question is will there be a show twice a year in Geneva to follow the trend that has been going on for years? Would a show in the winter and another one in the spring be beneficial to the industry, and maybe take over from Dubai? So many questions remain unanswered, but one thing that I know for sure, is that all these changes are going to have a positive impact on our industry and I also believe that small brands and independent/micro brands will manage to get a stronger voice and maybe have their own show in Geneva at the same time as the big one. They had done it last year, and I believe it was quite successful, and can only get better over time.

One more thing needs to happen though. They need to bring a sausage cart at the entrance of Palexpo. I mean we can’t give it all up either !

 

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