Events & Awards

Baselworld’s Future Uncertain as Exhibitors Revolt Over Refund Policy

Events & AwardsApr 09, 2020

Baselworld’s Future Uncertain as Exhibitors Revolt Over Refund Policy

Brands are threatening to leave the show en masse unless they get their money back for 2020.

20200409_Baselworld_shot_2019.jpg
A shot of the show floor at Baselworld in 2019. Show organizer MCH Group had to cancel the 2020 edition of the watch and jewelry trade show due to the coronavirus and is now facing blowback from exhibitors over its refund policy. (Photo of courtesy of Baselworld)

Basel, Switzerland—Baselworld has drawn the ire of exhibitors once again, this time for the amount of money it’s keeping after canceling the 2020 show and shifting the 2021 dates to January.

Last week, Baselworld organizer MCH Group emailed exhibitors giving them what one exhibitor, who asked not to be named, described as two “take-it-or-leave it” options.

The first is 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 that didn’t happen.

With the second option, exhibitors are being offered a 30 percent cash refund. Of the remaining 70 percent, 40 percent of that will be carried forward to 2021 while 30 percent remains with MCH for incurred costs.

There is no option for exhibitors that are unable to attend the 2021 show, which has moved from April to January.

In a press release circulated Friday, Baselworld organizers cited the “substantial financial commitments” already made for the 2020 show, which was called off just two months before opening day due to the spread of the coronavirus.

“By the time the crisis began to unfold, Baselworld was just a few days before setting up the fairgrounds and the major portion of the expenditures in preparation for Baselworld 2020 had already been made,” the release states.

Show organizers explained further in an email sent Thursday to National Jeweler.

“The proposal to carry forward 85 percent of the fees to the next fair in January 2021 is already very generous … If all exhibitors accepted this option, at most a third of the accumulated costs of around CHF 18 million would be covered. This means that Baselworld itself would also have to bear a large loss,” they said.

So, MCH came up with the two options, the second of which “not only allows our customers to lose a minimum of money but also secures the future of Baselworld.”

“In addition, if a large majority [of exhibitors] choose option 1, this will enable us to support smaller exhibitors in difficulty in order to ensure their participation in 2021,” show organizers said.

Some of the show’s watch and jewelry exhibitors see it differently.

To them, it’s new show management but the same “arrogant” attitude, the unnamed exhibitor said in an interview with National Jeweler, an adjective’s that’s been

used to describe Baselworld organizers in the past.

“They’re [MCH Group] trying to make it seem like they’re doing a good deed, but this is obviously not how all the exhibitors feel,” he said.

Many jewelry and gem exhibitors, he said, think the refund policy is unfair, particularly given the change in dates.

Baselworld 2020 was supposed to take place April 30-May 5, but the 2021 edition is set for Jan. 28 to Feb. 2, which puts it right after VicenzaOro and The Original Miami Beach Antique Show, and right before the Tucson gem shows.

“These dates don’t work for us,” the exhibitor said, noting that brands were not consulted about the date change. “I’m not going to drop Tucson to go to a dying Basel show.”

Exhibitors want MCH Group to either issue a 100 percent refund to anyone who can’t do the 2021 show or move the show back to April.

Also angering exhibitors: Baselworld has given them only until April 30 to choose one of these two options, a deadline the exhibitor described as “insensitive and untimely” in light of the circumstances.

“If they don’t submit to exhibitor demands, they’re going to lose a lot of exhibitors,” he said.

A similar, and more ominous, prediction came from Hubert J. du Plessix, president of the Baselworld Exhibitors Committee and an executive with arguably the most powerful watch company in the world.

Du Plessix is the chief investment officer at Rolex.

According to Singapore-based journalist Jiaxian Su, founder of the blog Watches by SJX, du Plessix sent a letter to MCH Group that Jiaxian described as “quietly scathing.”

In the letter, du Plessix, in his capacity as president of the Exhibitors’ Committee, asks for full refunds of fees paid for Baselworld 2020.

“Otherwise,” the missive states, “we fear that this will be the end, pure and simple, of Baselworld, especially since the dates chosen in January 2021 are not suitable for the jewellery, gemstones and pearls sector, and that coordination with Watches & Wonders (SIHH) no longer exists.”

Show director Michel Loris-Melikoff said in an email to National Jeweler that it is “impossible” to pay back the full amount because it would “jeopardize Baselworld.”

He also said the dates were “discussed extensively” with the show’s Advisory Committee, in which the watches, jewelry/gems and technical sectors are represented, and that the watch industry was the sector pushing to have the show “much earlier” than April.

Baselworld 2020 was slated to begin immediately after Watches & Wonders Geneva (formerly SIHH), which was canceled as well.

Watches & Wonders Geneva has not officially announced the dates for its 2021 show and did not respond when asked about them Wednesday, but it seems that the two shows won’t be held together.

Loris-Melikoff said in an interview with Swiss newspaper Le Temps that Watches & Wonders Geneva 2021 will take place in April.

When asked about 2021 dates, Loris-Melikoff told National Jeweler this: “[Fondation de la Haute Horlogerie Chair and Managing Director] Fabienne Lupo and I seem to have a different reading of the exchanges we had in February.

“But no matter, the situation is as it is. Our choice of January is only for 2021. We still believe that coordination must be restored as soon as possible.”

Loris-Melikoff also noted that he’s begun talks with the Baselworld Exhibitors’ Committee in an effort to “find a common path.”

“If new solutions emerge in the discussion that are right for both sides, I won’t close my mind to them,” he said.
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Buccellati jewelry
FinancialsMay 17, 2024
Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEO

The announcement coincided with its full-year results, with growth driven by its jewelry brands.

Watches of Switzerland Mall of America store
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat

Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.

My Next Question webinar series graphic
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show Success

Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.

Royal Chain gold chains
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.

Despite the rising prices, consumers continue to seek out the precious metal.

Cartier ring-tailed lemur brooch circa 1991
AuctionsMay 17, 2024
Piece of the Week: Cartier’s Ring-Tailed Lemur

This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.

Weekly QuizMay 16, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these seven questions.
Take the Quiz
202.18 carat fancy intense yellow diamond The Yellow Rose
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite Cyberattack

Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.

The Allnatt yellow diamond
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from Auction

Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.

Header image w logo.jpg
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a Tradeshow

Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.

National Jeweler columnist Lilian Raji
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve Done

Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.

Mothae Diamond Mine Lesotho
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine

The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.

National Jeweler columnist Peter Smith
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire Brands

Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.

The Argyle Phoenix red diamond
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips Geneva

The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.

David Mann jewelry store
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 Years

Owner David Mann is heading into retirement.

Brilliant Earth Logan Hollowell jewelry collection
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1

While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.

Rough diamonds from De Beers
SourcingMay 14, 2024
Anglo American Confirms It Is Looking to Sell De Beers

The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”

The Yellow Rose and the Allnatt yellow diamonds
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to Auction

Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.

Born Leaders Platinum Born campaign
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New Campaign

The ad aims to position platinum jewelry as ideal for everyday wear.

Instappraise Trifold Brochure
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal Offerings

Retailers can customize and print the appraisal brochures from their store.

White, pink, and blue lab-grown diamonds from Lightbox
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%

The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.

Christie’s New York
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed

The site has been down since Thursday evening, just ahead of its spring auctions.

Madeleine K. Albright’s Patriotic Leopard Brooch
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | Hindman

The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.

Zachary’s Jewelers Mother’s Day Jewelry Contest winners
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest Winners

Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.

Kimberly Adams Russell
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEO

Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.

Birth of Venus necklace
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ Necklace

As a token of womanhood, this necklace depicts when Venus was born from the sea.

Roberto Coin Fleur de Lis jewelry
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.

The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.

Lauren K Mosaic necklace
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms  

Show your mother some love with a piece of fine jewelry.

Kyle Edward Fine Jewelry
IndependentsMay 09, 2024
Kyle Edward Fine Jewelry to Close Salisbury Store

The company’s Easton location will remain open.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy