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Basel to Drop Prices by up to 30%
Mar 27, 2019 6:15 AM
By Rapaport News
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RAPAPORT... Baselworld will reduce booth prices by 10% to 30% at next year’s
show and move diamond dealers to a more attractive location, organizers have confirmed.
Management will reopen Hall 2, which was empty at the 2019
show, and place gem and pearl exhibitors in that area together with a new
innovation zone dedicated to smart watches and wearable devices. The plan as
it stands would see the innovation center on the ground floor, with gems and
pearls one level up.
“This is still at the stage of an idea. It’s possible the
gems and pearls sector may be located on the ground floor, but we still have to
see what is most appropriate,” Michel Loris-Melikoff, managing director of
Baselworld, said in a presentation on Tuesday, the final day of the show in the
Swiss city. “What is certain is that they will be in Hall 2.”
Diamond companies’ current location in Hall 3 has been
unpopular with many exhibitors, who felt they were too far from the high-end
watch and jewelry brands in Hall 1. The number of exhibitors in Hall 3 dropped 10% to 120
at this year’s show, despite a price reduction of 10% to 15%. That compares
with a 20% decline in the total number of exhibiting brands at Baselworld to
520, while the visitor count dropped 22% to 81,200.
Loris-Melikoff vowed to slash per-square-meter prices across the show
by up to 30% next year depending on the position, as well as simplifying the
pricing structure. He noted, however, that booth rental only represented about 15% of the cost of attending the show for average exhibitors.
The 2020 edition will take place later than usual, from
April 30 to May 5, so visitors can also attend the Salon International de la
Haute Horlogerie in Geneva, which ends April 29, organizers of both shows
announced in December. That synchronized schedule will continue until at least
2024.
From next year, Baselworld plans to rebrand itself as an
“experience platform” and a community for the jewelry and watchmaking industry,
rather than a classic trade fair, it said. To that end, the 2020 show will
feature a retailer summit, talks by CEOs, and a virtual-reality zone.
“Our strategy met with strong approval from the exhibitors
during the presentations,” Loris-Melikoff noted. “We will tackle change with
vigor and passion.”
Image: Swiss President Ueli Maurer (left) at the 2019 Baselworld show. (Baselworld)
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Tags:
basel, Baselworld, geneva, Michel Loris-Melikoff, prices, Rapaport News, Salon International de la Haute Horlogerie, shows, smart watches, Switzerland, trade fairs, wearable devices
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