Nearly three months after Swatch Group announced that it would cease participation in Baselworld, three more watch brands have stated that they’re also leaving the show, Rapaport News reports.
The brands that have pulled out for 2019 are Maurice Lacroix, Raymond Weil and Corum. Raymond Weil and Corum said the high cost of exhibiting and a lack of fresh ideas on the part of the show were at the root of their decision, according to Rapaport.
Rapaport notes that Baselworld’s organizer, MCH Group, has reduced exhibitor fees and other costs for 2019.
In July, Swatch Group said it would be ceasing its participation in Baselworld as of 2019.
That was bad news for the show in Switzerland given that Swatch owns 18 brands, from Breguet to Harry Winston to Mido, and has had what Forbes calls a “mammoth” footprint at the show. Watch industry website Hodinkee described Swatch as “the show’s largest exhibitor.”
Forbes noted at the time that Baselworld had already seen hundreds of exhibitors leave, and that the show was two days shorter 2018 than it was in previous years.
Read more at Diamonds.net