Earlier this week it was reported that Rolex, Patek Philippe, Chanel, Tudor and Chopard all decided to not just depart from Baselworld 2020, but to also start their own event in partnership with the Fondation de la Haute Horlogerie (FHH). A new event is expected to take place in Geneva in 2021 — coinciding with the Watches & Wonders show — which raises questions surrounding LVMH’s next move after also departing from Baselworld.
The LVMH brands in question are TAG Heuer, Hublot and Zenith, as well as Bulgari which had already announced its departure in February. Hodinkee suspects LVMH’s brands will join the five aforementioned watch companies in Geneva next year.
Although LVMH has yet to put any official plans in place, Bulgari CEO Jean-Christophe Babin is quoted in a press release published by the multinational corporation and conglomerate as saying, “Grouping the entire Swiss watch industry in a single location, Geneva — the historical capital of watchmaking — and around a single date, is a major opportunity to at last revive a sector that all too many divisions and divergent interests have weakened, compared to the rest of the luxury sector in which Bulgari is active and that is making much faster progress.”
For now, LVMH is still set to hold its own watch week in 2021 in Dubai, which will clash with Baselworld’s plans to also run its postponed event in January 2021.
In case you missed it, here is everything you need to know from LVMH’s Q1 report.