NEWS: Rolex, Tudor, Patek Philippe Leave Baselworld For New Trade Show With Watches & Wonders

Rolex, Tudor, Patek Philippe Leaving Baselworld comes as no surprise to us. We had written about this in a previous article you can read here: Baselworld Show canceled and Postponed to January 2021 following in the footsteps of the Watches & Wonders Geneva show. What is interesting though is that these Giants of the watch industry are aligning with Watches & Wonders to form a yet unnamed show. There has been unrest amongst Luxury Brands attending Baselworld for some time now. Here is a quote from Rolex CEO, Jean-Frédéric Dufour, Chief Executive Officer of Rolex SA, and Board Member of Montres Tudor SA said:

"We have taken part in Baselworld since 1939. Unfortunately, given the way the event has evolved and the recent decisions make by MCH Group, an in spite of the great attachment we had to this watch show, we have decided to withdraw. Following discussions initiated by Rolex, it seemed only natural to create a new event with partners that share our vision and our endless, unwavering support for the Swiss watchmaking sector. This will allow us to present our new watches in line with our needs and expectations, to join forces and better defend the interests of the industry.

As you can see from Mr.Dufour's comments, brands have been frustrated with the Baselworld show for some time and the COVID-19 pandemic was partly the catalyst for the “abandoning of the sinking ship” so to speak. Also, something of interest to note is that in the past Rolex has not shown much interest in what other brands do and usually has kept a distance not to align themselves with other competitors. However, this press release was drafted with sister company Tudor, Patek Philippe, Chopard, Chanel on the header. This is defiantly not a common thing for them. Rolex was also the first to release the above statement perhaps to give the impression that those other brands listed are following along with them not the other way around. There may be more going on that the Luxury watch industry is eluding to and Rolex for once feels the industry itself is threatened so needs to plan for the coming change by leading the charge. Rolex has weathered bad storms in the past (such as the quartz watch revolution of the ’70s) and I’m sure they will this storm also. It will be interesting to see what direction Rolex goes into marketing their New Novelties to the world. Let’s wait and see how this all plays out in the future.

NEWS: Rolex and Tudor to Postpone 2020 New Model Releases

Due to the COVID-19 virus this years Basel World 2020 has been canceled. As such many are wondering how to find out what New Releases will be available this year. Rolex and Tudor has now stated they will Postpone 2020 New Model Releases. They have not said how or when this year’s new models will shown to the public, most figure it will be defiantly via their websites or streaming of some sort of online event. It will be interesting to see how during this pandemic Brand will show new inventory without a physical show. It is also rumored they may not even release this year’s models until next year due to the uncertainty of the COVID-19 virus run and economic instability.

Baselworld Show canceled and Postponed to January 2021 following in the footsteps of the Watches & Wonders Geneva show.

In a Press release Baselworld has sited “For health safety reasons and in accordance with the precautionary principle issued today by the Swiss authorities, Baselworld announces that it has taken the decision to postpone the show”. 

Michel Loris-Melikoff, Managing Director of Baselworld said: “We deeply regret having had to postpone the event as planned due to the coronavirus, in full consideration of the needs of the watch and jewellery industry to be able to benefit from the platform to develop their business. This decision has been all the more difficult in view of all the positives that have been achieved through listening and dialogue over the last few months, which resulted in new concepts and new solutions, that have attracted exhibitors to return and new ones to sign on. We registered encouraging growth in all sectors; watchmaking, jewellery, the gemstone and pearl trade, as well as in the technical branch.

By postponing the show to January 2021, we have found a solution that enables the industry and all our customers to avoid losing a full year and at the same time reset their calendars for the beginning of the year, a period that is conductive to the presentation of their new products, new trends and order taking. This postponing will also allow Baselworld to continue developing and bringing new formats and solutions as well as improvements to the new concept we propose.”

 Many large players left this year's show signaling a possible shift in brand marketing. Already declining in attendance, they didn't need the Corona-Virus outbreak negatively impacting predicted attendance. Brands looking for a way out will now have the chance to do so getting a free pass to market their releases online. ROI (return on investment) always proves difficult to measure at the end of what is already an expensive show. Is it worth it? We'll see if sales is is a function of marketing this time around.

As a new generation of buyers have been slowly moving to online purchasing, storefronts are experiencing a shift in traditional sales methods. No need to try before you buy if the product isn't there anyways. With greater inventory and easy checkout, the advantage to online purchasing is obvious - most buyers can purchase and have it the next day.

Rolex and others will still show this year’s 2020 inventory online. Will storefronts and shows alike survive this shift to digital marketing and limited physical inventory? Only time will tell.