SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Events & AwardsMay 07, 2020
Baselworld Cancels 2021 Show, Adjusts Refunds for 2020
MCH Group said it is looking into “new platforms” for the watch and jewelry show.
Pictured here is the show floor at Baselworld 2019. MCH Group had to cancel this year’s show because of the coronavirus and, now, has announced it’s canceling the 2021 show as well. (Photo of courtesy of Baselworld)
Basel, Switzerland—MCH Group, organizer of the Baselworld watch and jewelry trade show, announced two developments concerning the 2020 and 2021 shows.
In a statement sent out today, MCH Group said it has cancelled the 2021 show scheduled for Jan. 28 to Feb. 2.
Baselworld Managing Director Michel Loris-Melikoff said beyond 2021, MCH Group is looking into “new platforms” for Baselworld.
“We will be taking a decision on possible follow-up formats by the summer and will then provide information on the new concept and scheduling,” he said.
In its announcement, MCH Group also said it worked with the show’s Swiss Exhibitors’ Committee and the Comité Consultatif to come to an agreement regarding refunds for the cancelled 2020 show, though it did not provide specifics on how much money it would be giving back.
Baselworld’s original refund policy caused an uproar among exhibitors.
Following the 2020 event’s cancellation, MCH Group gave them two “take-it-or-leave it” options, as one exhibitor described them.
The first was for Baselworld to take 85 percent of an exhibitor’s booth fees for 2020 and apply them to 2021, with the remaining 15 percent going to MCH to offset the costs the company incurred for the 2020 show.
With the second, exhibitors were offered a 30 percent cash refund. Of the remaining 70 percent, 40 percent of that was to be carried forward to 2021 while 30 percent would’ve remained with MCH for incurred costs.
Baselworld offered no 100 percent refund option for exhibitors unable to attend the 2021 show, which, many argued, conflicted with other trade shows.
Following the uproar over the refund policy and the date change, Rolex, Tudor, Patek Philippe, Chanel, and Chopard announced they were cutting ties with the show and starting their own watch event.
The departures of LVMH-owned watch brands TAG Heuer, Hublot and Zenith followed shortly thereafter.
Though MCH Group’s announcement didn’t give specifics on the new refund policy, Rolex’s Hubert J. du Plessix, president of the Swiss Exhibitors’ Committee, said the brand—along with Patek Philippe, Tudor, Chanel, Chopard, Hublot, Zenith and TAG Heuer—agreed to a lower refund “so that the other exhibitors can benefit from better conditions.”
Bernd Stadlwieser, CEO of the MCH Group, said in the statement: “We are pleased to have worked together and, in just a short time, found a solution that is acceptable to everyone.
“In the light of the large loss of revenue due to COVID-19
and our responsibility to all our stakeholder groups, this solution marks the limit of what is possible for us. With the amicable settlement for Baselworld 2020, we can now concentrate fully on the future.”
More on Events & Awards
The Latest
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Weekly QuizApr 11, 2024
This Week’s QuizTest your jewelry news knowledge with this seven-question quiz.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
MajorsApr 11, 2024
Macy’s Opens Books for Possible BuyoutThe retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
CollectionsApr 10, 2024
Sylvie Launches New Nature-Inspired Collection, ‘Tulira’The bridal collection consists of 35 engagement rings and seven wedding bands.
WatchesApr 10, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
IndependentsApr 10, 2024
Levy's Fine Jewelry Explores Diamond History The family-owned jeweler has a new education section on its website dedicated to the history of diamond cutting.
