Baselworld update: LVMH Group pulls Bvlgari, TAG Heuer, Hublot, and Zenith from the watch fair
Hot off the heels of Rolex, Patek Philippe, Chanel, Chopard, and Tudor's departure announcement, LVMH Group has also revealed its decision to pull four of its watch brands—Bvlgari, Tag Heuer, Hublot, and Zenith—from Baselworld. This is definitely a nail in the coffin for the watch fair, which was always considered the event of the year for the timepiece industry.
Stephane Bianchi, the CEO of the LVMH watch division says in a statement: "We are sorry to have to leave this over hundred-year Baselworld event to which our Maisons have been consistently loyal. It is nonetheless clear that we must respond quickly and make other arrangements. We are facing an opportunity to reinvent the format and content of one of the key moments of our watchmaking year, which represented both a major commercial challenge and a lever of influence for our brands."
While the five luxury timepiece brands have announced that they'll be showing at a new yet-to-be-named watch fair in Geneva in April next year, LVMH Group has yet to confirm its next move, as Stephane states, "We will do our utmost to be present alongside the other prestigious Maisons that will gather in Geneva in April 2021, and thereby meet the requirements of our partners and clients while offering them an unrivaled experience." The luxury conglomerate held its own watch fair in Dubai back in January this year.