Swatch Group to Exit Baselworld, Will Not Return in 2019

According to an article up on NZZamSontag published this weekend, the Swatch Group will not be returning to the annual showcase Baselworld next year Baselworld had so far been the biggest watch and jewellery fair in the industry, attended by the likes of Rolex, Patek Philippe, Chopard, and LVMH watch companies including TAG Heuer, Bulgari, and Zenith Watches, as well Swatch Group CEO Nick Hayek was quoted as saying "The Swatch Group has decided not to be present at Baselworld from 2019," and his company was "Not there to amortise an expensive hall designed by Herzog & de Meuron," referring to the exhibition venue in Basel that was opened in 2013.

With 18 brands that includes Swatch, Omega, Longines, Blancpain, Harry Winston, Breguet, Jaquet Droz, Glashutte Original, the Swatch Group is the largest Swiss watch manufacturer and its departure adds to the woes of the exhibition which in recent years has seen significant number of brands dropping off its show calendar, as well as falling visitor traffic In the past two years, Baselworld has seen approximately 850 exhibitors leaving, representing a massive drop of 57% from 2016 For the 2018 edition, 650 of last year's 1,300 exhibitors did not return.

Sylvie Ritter the managing director of Baselworld for the last 15 years was replaced earlier this year, a sign that the times needed a changing. . Source