LVMH, the prestigious luxury conglomerate known for its stellar array of watch brands, has officially announced its participation in Baselworld 2019. In an exclusive interview with CNN Money Switzerland, Jean-Claude Biver, the outgoing head of LVMH’s watch division, shed light on the urgent need for transformative changes to be implemented by 2020 to secure the future of the renowned watch fair.
With Rolex and Patek Philippe among the Swiss watch giants advocating for innovation, the industry is collectively recognizing the imperative to adapt to evolving consumer trends. Swatch Group’s departure from Baselworld earlier this year due to cost concerns has underscored the pressing need for a fresh approach.
Biver, who will continue to play a key advisory role within LVMH’s watch division, stressed the importance of modernizing Baselworld’s structure and content. From scheduling adjustments to revisiting pricing models and enhancing logistical support for participants, there is a consensus on the necessity for a comprehensive overhaul.
As the industry landscape sees a surge in interest towards the rival Geneva watch fair, Baselworld is faced with the challenge of not only retaining its relevance but also enhancing its appeal in a rapidly changing market. The recent announcement of prestigious brands like Audemars Piguet and Richard Mille opting out of Baselworld 2020 highlights the urgency for swift and effective action.
In essence, while LVMH’s commitment to Baselworld 2019 is a positive signal, the impending changes for 2020 are a clear sign of the industry’s collective call for a new era of watch fairs. Through collaborative efforts and a forward-thinking mindset, Baselworld has the opportunity to revitalize its positioning as a premier event for luxury watch connoisseurs worldwide.
To learn more about Baselworld 2019 and the latest developments in the watch industry, check out the official website here. Additionally, for insights into the trends shaping the luxury watch market, explore this informative article here.
