According to a press statement, Bvlgari has confirmed that it will no longer be participating in Baselworld 2020. It added that it hasn’t decided whether it would participate in the show from 2021 onwards.
Baselworld is slated to take place from April 30-May 6 in Basel, immediately after Watches & Wonders concludes on April 29 in Geneva.
In January, Bvlgari, TAG Heuer, Zenith and Hublot held the LVMH Watch Week in Dubai wherein they showcased their novelties and met with retailers and key customers – activities that they would typically undertake at the annual Baselworld watch fair.
Elaborating on its decision to withdraw from Baselworld, Jean-Christophe Babin, CEO of the Bvlgari Group, said, “This decision has not been an easy one but we believe that the best option for Bvlgari is to go directly to the markets as of March. It does not mean that Bvlgari is definitely leaving Baselworld and decision for 2021 and beyond will be made by the end of June.
“As said in the past, the main criteria to continue participating in watch fairs will be the timing as well as the costs which today are not consistent with commercial requirements and returns of investments.”
Bvlgari added that the decision also came in the context of “growing travelling uncertainties of international visitors” – believed to be a reference to the global travel restrictions arising out the coronavirus.
The announcement comes as a further blow to Baselworld which has reeled from the withdrawal of a number of key participants over the last two years including the entire Swatch Group and all of its brands including prestige brands like Breguet, Blancpain, Jaquet Droz and Omega.
Breitling that had a major presence at the fair also announced last April that it too was pulling out of Baselworld and favoured smaller regional shows across the world where it would debut its novelties.
The other brands that won’t be participating at Baselworld this year include Hermes, Ulysse Nardin, Girard-Perregaux, Grand Seiko and Gucci, among others.