Supplier BulletinJun 24, 2022
AGTA GemFair™ Denver is the Place to Be in September!Sponsored by AGTA
Events & AwardsApr 14, 2020
Rolex, Patek, Chanel Exit Baselworld for New Watch Show
It will be held in conjunction with Watches & Wonders Geneva in April 2021.
Rolex led the charge for five heavyweight brands to leave Baselworld and start their own show that will be held in conjunction with Watches & Wonders Geneva next April. Pictured here is the Rolex booth at Baselworld last year. (Photo courtesy of Baselworld)
Geneva—Five heavyweight watch and jewelry brands have cut ties with Baselworld.
Rolex, Patek Philippe, Chanel, Chopard and Tudor announced Tuesday they are creating a new watch trade show to be held in conjunction with Watches & Wonders Geneva.
In a joint statement with Fondation de la Haute Horlogerie, organizer of Watches & Wonders (formerly SIHH), the brands cited Baselworld’s history of making major decisions without consulting exhibitors as part of the impetus for leaving.
The beleaguered Swiss watch and jewelry exposition has come under fire in the last decade for its exorbitant pricing and disregard for exhibitor feedback.
Its most recent affront to participating brands was its postponement to January 2021 due to the coronavirus pandemic, instead of April 2021 to align with Watches & Wonders.
Rolex, Patek Philippe, Chanel, Chopard and Tudor announced Tuesday they are creating a new watch trade show to be held in conjunction with Watches & Wonders Geneva.
In a joint statement with Fondation de la Haute Horlogerie, organizer of Watches & Wonders (formerly SIHH), the brands cited Baselworld’s history of making major decisions without consulting exhibitors as part of the impetus for leaving.
The beleaguered Swiss watch and jewelry exposition has come under fire in the last decade for its exorbitant pricing and disregard for exhibitor feedback.
Its most recent affront to participating brands was its postponement to January 2021 due to the coronavirus pandemic, instead of April 2021 to align with Watches & Wonders.
“There have been too many discussions and unsolved problems; trust is no longer present.” – Patek Philippe President Thierry Stern
Exhibitors were even more roiled by their two show refund options: roll over 85 percent of fees to the next show and lose 15 percent to Baselworld organizer MCH Group, or claim a 30 percent refund now, with 40 percent of fees applying to the January show and loss of the remaining 30 percent.
Rolex SA CEO and Montres Tudor Board Member Jean-Frédéric Dufour noted in the joint statement: “We have taken part in Baselworld since 1939. Unfortunately, given the way the event has evolved and the recent decisions made by MCH Group, and 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.”
Other executives echoed the difficulty in the historic decision to leave Baselworld.
Patek Philippe President Thierry Stern said: “The decision to leave Baselworld was not an easy one to take for me, being the fourth generation of the Stern family to participate in this traditional yearly event …Today Patek Philippe is not in line with Baselworld’s vision anymore, there have been too many discussions and unsolved problems; trust is no longer present.
“We need to answer the legitimate needs of our retailers, the clients and the press from around the world. They have to be able to discover the new models from Swiss watchmakers each year, at one time, in one place, and in the most professional manner possible.”
The yet-to-be-named watch trade show will be held at the Palexpo in Geneva at the same time as Watches & Wonders, in April 2021.
The yet-to-be-named watch trade show will be held at the Palexpo in Geneva at the same time as Watches & Wonders, in April 2021.
More on Events & Awards
The Latest
Recorded WebinarsJun 24, 2022
Vegas Jewelry Recap: The Editors Weigh InWatch the webinar in which National Jeweler’s editors talk about jewelry market week trends and their predictions for the rest of 2022.
MajorsJun 24, 2022
Banter by Piercing Pagoda Celebrates Pride with ‘SayGay’ NecklaceAll proceeds up to $25,000 will benefit the It Gets Better Project, a nonprofit that supports LGBTQ+ youth.
Brought to you by
Discover The Extraordinary Italian Jewelry In Las Vegas!Experience all the Italian Jewelry market has to offer in Las Vegas.
CollectionsJun 24, 2022
Piece of the Week: Marie Lichtenberg’s Hidden Message LocketIt’s a reminder that life is best lived with discretion.
Weekly QuizJun 23, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
TechnologyJun 24, 2022
Cloud-Based POS Software Jewel360 Launches for Jewelry RetailersThe end-to-end software allows for real-time control over all sales, inventory, repairs, customer communications, and marketing.
EditorsJun 23, 2022
Antique Show Observations From a First-Time AttendeeAssociate Editor Lenore Fedow shares her impressions of the Las Vegas Antique Jewelry & Watch Show and a few of her favorite finds.
Brought to you by
3 Reasons to Offer Estate Buying at Your StoreProvide your customers with a seamless selling solution by partnering with Windsor Jewelers, Inc.
GradingJun 23, 2022
AIGS Launches Grading Report for ‘Santa Maria’ AquamarineThe Asian Institute of Gemological Sciences aims to set a color standard for the trade name.
SourcingJun 23, 2022
Rough Diamond Sales Rise Again for De Beers Sales were up 36 percent year-over-year in June and are pacing 24 percent ahead of last year at this point.
AuctionsJun 23, 2022
Auction House Freeman’s Appoints First Rep in Florida Kate Della Monica, a senior specialist in the Jewelry and Watches department, will relocate to the Sunshine State.
Lab-GrownJun 22, 2022
LVMH Luxury Ventures Sinks Money Into Lab-Grown Diamond Start-UpLVMH’s investment arm has taken a stake in Lusix, a lab-grown diamond company based in Israel.
AuctionsJun 22, 2022
Here’s How Two 100-Plus-Carat Diamonds Did at AuctionSotheby’s New York put a colorless diamond and a fancy deep orange-brown diamond up for sale last week, with mixed results.
CrimeJun 22, 2022
Leviev Diamonds Launches Bracelet to Help ‘Tinder Swindler’ Victims Profits will help them recoup financial losses.
MajorsJun 22, 2022
Swarovski Names First Non-Family CEORetail veteran Alexis Nasard will step in as CEO on July 4.
SourcingJun 22, 2022
Edward Asscher to Remain WDC President for Another YearThe organization also extended the terms of Vice President Feriel Zerouki and Treasurer Ronnie VanderLinden.
ColumnistsJun 21, 2022
State of the Majors 2022: Reflections on ResilienceAfter suffering a professional setback, columnist Peter Smith reflects on our ability to bounce back even when the hits keep on coming.
IndependentsJun 21, 2022
Jeweler Tommy Glatz, Known for Being Creative and Kind, Dies at 68Glatz owned and operated Glatz Jewelers in Aliquippa, Pennsylvania for more than 40 years.
MajorsJun 21, 2022
David Yurman Hires Chief of People, StrategyFormer McKinsey partner Emily Yueh marks new president Evan Yurman’s first hire.
TrendsJun 17, 2022
Britney Spears Wore Over $500K of Stephanie Gottlieb Diamonds at Her WeddingThe New York jeweler also made the pop star’s wedding bands.
AuctionsJun 17, 2022
5-Carat Paraiba Tourmaline Ring to Hit the Auction BlockIt’s predicted to sell for up to $484,000 during the Bonhams Hong Kong Jewels and Jadeite auction on June 22.
CollectionsJun 17, 2022
Piece of the Week: Gemella’s ‘Stella’ NecklaceIt’s as versatile as it is glamorous.
TechnologyJun 16, 2022
Cartier, Amazon Suing ‘Influencer,’ Sellers Over Counterfeit ‘Love’ JewelryThe alleged scheme involving fake “Love” bracelets, necklaces and rings was designed to circumvent Amazon’s counterfeit detection tools.
MajorsJun 16, 2022
Helzberg CEO Beryl Raff to RetireChief Financial Officer Brad Hampton will take over as the retailer’s new CEO.
CollectionsJun 16, 2022
Kirk Kara Unveils ‘Rayana’ Collection, New Bridal Styles at Luxury ShowIts new collection with subtle swirl designs draws inspiration from the family’s Armenian roots.
WatchesJun 16, 2022
Tudor Opens LA Flagship BoutiqueIt’s located at the Westfield Century City outdoor shopping center.
