Swatch says it will never return to Basel

105 Published by admin May 05,2019

Baselworld's (Watch exhibition) plans to co-ordinate the timing and roll out a series of innovations with Geneva's SIHH from 2020 do not seem to be enough to lure back Swatch Group and its brands.

At a news conference to present swatch's 2018 annual financial report, CEO Nick hayek said the time for the big annual shows was over. "we don't need them anymore. The world has changed," he said.Shares in MCH group, the organiser of Baselworld, have plummeted since swatch pulled out.MCH's share price peaked at more than sfr80 in May last year and is now just sfr20.

This year's Baselworld opens this week with nearly 500 brands on display, including patek philippe and rolex, two of the world's most powerful watchmakers.

Starting in 2020, Baselworld will take on a very different look, prioritising consumers over retailers and related media.

Michel loris-melikoff, managing director of Baselworld for the first time this year, acknowledged that the number of exhibitors was disappointing, but urged the industry to focus on improving the experience and look forward to relaunching in 2020.