Instead, it will pursue it’s own road shows and the Breitling Summit format, which involves inviting select groups of retailers, media, customers and collectors to see exclusive product launches and developments. The first one was held in London last October.
But while the exit could be seen as a blow to Baselworld and its new CEO, Michel Loris-Melikoff, Breitling CEO Georges Kern emphasised that the door was still open for the future. “We will decide whether we will return to Baselworld from 2021 onward at a later date, and this will depend on the timing of the event and the possibility of holding the Breitling Summit.”
He added, “We would like to emphasise that the extensive innovations developed and implemented by Baselworld’s management under Michel Loris-Melikoff in such a short timeframe have had a positive impact and can lay the foundations to take Baselworld in a new direction in the future.”
In more positive news for Baselworld, Rolex has decided to expand its presence at the 2020 show, with sister brand Tudor taking its own stand in Hall 1.0 for the first time.
“This is a strong demonstration of confidence in the successful future of Baselworld and gives us a boost for the tasks ahead,” Loris- Melikoff said.
The announcement comes off the back of a new report into the global Swiss watch industry by Morgan Stanley and LuxeConsult, which showed Rolex Group, which includes Rolex and Tudor, is far and away the industry leader with 22.2 per cent market share. The company – which is privately owned by the Fondation Hans Wilsdorf family trust – turns over CHF11.5 billion ($16 billion) in retail sales per year.
For more on Baselworld, read A new direction for Baselworld.