Connect with us

Headlines

Swatch Pulls Out of Baselworld

mm

Published

on

CEO says watch fairs should ‘reinvent themselves.’

Swatch Group is ceasing its participation in the Baselworld show as of 2019, Forbes reports.

That’s 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 describes Swatch as “the show’s largest exhibitor.”

Forbes notes that Baselworld has already seen hundreds of exhibitors leave, and that the show was two days shorter 2018 than it was in previous years.

Barbara Palumbo wrote for INSTORE that the 2018 edition “was a little bit shorter and a little bit emptier,” but she noted that it was “no less spectacular (in the traditional sense) than it has always been.”

Forbes quoted Swatch Group CEO Nick Hayek saying that annual watch fairs need to “reinvent themselves.”

“The MCH Group, which organizes Baselworld, is clearly more concerned with optimizing and amortizing its new building – which, incidentally, is largely financed by the watch industry during the fairs – than it is in having the courage to make real progress and to bring about true and profound changes,” he said, according to the publication.

Advertisement

Read more at Forbes

Advertisement

SPONSORED VIDEO

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

Promoted Headlines

Most Popular