Swatch Group has quit Baselworld, arguing the watch and jewelry show is no longer relevant and its organizers are not interested in changing it for the better.
The Swiss group, whose 18 brands include Omega, Tissot and Harry Winston, is a mainstay of the annual fair. However, it will not attend from next year as the event has failed to keep up with the changing industry, it said in a statement to Rapaport News Monday, [the 27th of July].
“Today everything has become more transparent, fast-moving, and instantaneous,” Swatch said. “Accordingly, a different rhythm and a different approach [are] needed. In this new context, annual watch fairs, as they exist today, no longer make much sense.”
Trade shows should not disappear, but must “reinvent themselves” by adapting to the new environment and being more dynamic and creative, the company added.