Four Fashion Watch Brands Exit Baselworld

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Four Fashion Watch Brands Exit Baselworld

Postby koimaster » November 22nd 2016, 4:20pm

The Timex Group Swiss Luxury Division—which manages the watch business for luxury fashion brands Salvatore Ferragamo, Versace, Versus and Nautica through licensing agreements—is the latest company to leave the Baselworld watch and jewelry show.

Paolo Marai, president and CEO of the division of the Timex Group, in an exclusive interview, said the $3 million investment into the show could be better spent in other areas of its global business. The four brands occupied Hall 1.1, the second floor of the hall dedicated to “global” watch and jewelry brands.

“I think that Baselworld is a huge investment for everybody and is in my opinion losing some effectiveness,” he said. “It used to be very important in different levels. First, it was a good opportunity to meet journalists but they’re coming less and less to Baselworld. And even those who come are reducing the time they are staying—running from one appointment to the next.”


He continued, “Second, in the past we used to meet a lot of retailers. This year not one single country sent retailers. So what you meet in Baselworld are distributors. But we know the distributors. I don’t need to go to Baselworld for that.”

Marai says the changing luxury business demands that luxury brands, particularly fashion brands, need to be closer to the consumer. He argues Baselworld, based in Basel, Switzerland, isn’t an efficient way to do this.

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Re: Four Fashion Watch Brands Exit Baselworld

Postby conjurer » November 22nd 2016, 4:35pm

Cheap-ass deadbeats!
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Re: Four Fashion Watch Brands Exit Baselworld

Postby artman » November 22nd 2016, 5:19pm

It takes guts to shun traditional events. If their marketing team recognized a disconnect between the show and their consumers, it wouldn't surprise me if more companies don't do the same. Baselworld may need an enema.
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Re: Four Fashion Watch Brands Exit Baselworld

Postby Hawk » November 22nd 2016, 5:40pm

Trade shows resemble archaeological digs during down times. My industry's trade show almost shut down during the last recession.

Basel is apparently not functional if there are no journalists and the ones that are there are flying steerage and staying only a day or so - you're there for exposure and exhibiting only to other exhibitors doesn't count.
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Re: Four Fashion Watch Brands Exit Baselworld

Postby biglove » November 22nd 2016, 8:23pm

$3 million for a relatively small booth rental? And we thought IWG was scamming folks? Baselworld is screwing watch companies who are then passing along that cost to us consumers. FTS!
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Re: Four Fashion Watch Brands Exit Baselworld

Postby four of diamonds » November 22nd 2016, 9:29pm

There is always more to the story. Timex has been hurt by the down market for watches so cash flow is a problem. Allocating the $3 million to other company needs during tough market conditions makes sense.
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Re: Four Fashion Watch Brands Exit Baselworld

Postby TemerityB » November 23rd 2016, 8:26am

Idea: Make Baselworld into a traveling exhibition that hits every country. In an era when sales are supposedly down, come to the companies instead of making the companies come to you.

I always kinda wanted to go to Baselworld, but frankly, the WatchTime and other events that seem to crop up here in NYC are good enough.
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Re: Four Fashion Watch Brands Exit Baselworld

Postby artman » November 23rd 2016, 3:09pm

TemerityB wrote:Idea: Make Baselworld into a traveling exhibition that hits every country. In an era when sales are supposedly down, come to the companies instead of making the companies come to you.

I always kinda wanted to go to Baselworld, but frankly, the WatchTime and other events that seem to crop up here in NYC are good enough.

I like this idea, but take it further. Have the people who put on ComiCon produce the next Basel world. That would be a cool show!
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