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Baselworld Looks to Reduce Prices
Sep 12, 2018 10:05 AM
By Rapaport News
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RAPAPORT... Baselworld
is proposing to lower prices for exhibitors and visitors in an attempt to
reinvigorate the annual watch and jewelry show.
“Expenses
crossed the pain threshold for many people in past years,” Baselworld CEO
Michel Loris-Melikoff said in a statement last week. “With regard to stand
rentals, we have already modified the fees in past years, and we’ll continue to
modify them selectively in 2019 to reduce expenses for our exhibitors. We’ll
likewise rethink the admission prices and adjust them downward, if possible.”
The
value of attending Baselworld has come under the spotlight since Swatch Group last
month pulled its 18 brands — including Tissot, Omega and Harry Winston — out of
the 2019 edition, arguing that the show was no longer relevant. The event’s organizers
will meet with all participants to find a solution to the high cost of
attending, Loris-Melikoff said.
“Our
negotiations with hoteliers and restaurateurs make it clear that this will
succeed,” the executive noted.
Baselworld’s
parent company, MCH Group, has been through a period of transition. Hans-Kristian
Hoejsgaard joined last week as interim CEO after René Kamm resigned in the wake
of Swatch’s withdrawal. Stephan Peyer, a member of MCH’s executive board in
charge of corporate development and services, also left last week for personal reasons, the company said, while Sylvie Ritter quit as managing director of
Baselworld in May, with Loris-Melikoff taking over.
Lower
earnings from Baselworld resulted in a 17% drop in MCH’s profit for the first
half of the year, the group reported last week.
The
show will also give jewelry exhibitors a more central position in Hall 1.2
alongside a new “show plaza” with a 240-degree catwalk to attract visitors to
that location. It is also developing a new communications strategy, enabling
brands to showcase their products year-round.
Image: Visitors walk the show at Baselworld. Credit: Baselworld
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Tags:
basel, Baselworld, Hans-Kristian Hoejsgaard, Harry Winston, including, Michel Loris-Melikoff, Omega, Rapaport News, René Kamm, shows, Stephan Peyer, swatch group, watches
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