The Life and Last Hope of BaselWorld

After 103 years of operation, Baselworld is on life support.

April 18, 2020
By: Christian Zeron

It’s official, Rolex and Patek Philippe, among other brands, announced their planned abandonment of the Baselworld Fair after conflict related, although not limited to, the Coronavirus Pandemic. After 103 years of operation, Baselworld is on life support.

Although it’s now in danger of shutting down for good, the fair played a major role in elevating many watches to “icon” status. By hosting a week-long show attended by nearly one hundred thousand people each year, Baselworld gave watch brands the opportunity to launch their new releases – to build excitement, educate and, ultimately, capture the market.

Today I’d like to look back at the history of the show, some of the remarkable pieces that came out of it, its downfall and its last hope.

History and Icons
First organized in 1917, “Baselworld” launched as a watch and jewelry fair. Fourteen years later, after building significant traction, the watch fair gained its independence. The next year, Patek Philippe exhibited their new releases for the first time, and the next, Heuer.

Rolex, who had already successfully launched the Oyster case and perpetual movement, entered in 1939.

In 1954, the Submariner hit the scene. Which brings me to the first major success, the first clear demonstration of value brought by Baselworld.

The Submariner was not the first modern diving watch, although it’s often considered to be so. A year earlier, Blancpain launched its Fifty Fathoms. However, Blancpain did not have the help of the fair, so the release wasn’t met with the same attention that Rolex experienced a year later with the launch of the Submariner. Their very public launch grabbed the attention of the market, Rolex took off running and the Submariner was born.

In 1969, Zenith El Primero and Heuer Caliber 11 were both launched at the Basel Fair.

Left: Zenith El Primero ad
Right: Heuer Monaco Caliber 11

At the 1972 fair, Audemars Piguet changed the meaning of “luxury” in the watch world. They broke the mold by marketing an industrial steel watch called the “Royal Oak” in the space.

Audemars Piguet Royal Oak
Source: Watchonista

Fast forward to 1999 and Baselworld saw the launch of one of the most significant watches of the 20th century. The Datograph, manufactured by A. Lange Söhne, who had released their first collection since their rebirth five years earlier.

It was the first completely new, in-house mechanical chronograph produced in the 25 years prior. Cased in platinum, it featured a fly-back function, oversized date and precisely jumping minutes counter. This was the watch that made Lange Lange.

A. Lange & Sohne Datograph
Source: Sotheby’s

So yes, Baselworld served a purpose.

It gave vendors the opportunity to show off their newest pieces and reach their clients.

It gave journalists the space (albeit tight) to cover the news immediately.

It gave spectators an enormous, almost unbelievable world of luxury to stand in awe of.

And it gave all attendees the chance to socialize with the most important individuals in the industry.

Then, a few things happened.

Baselworld Fair
Source: Baselworld

The Downfall
First, options.

Today, brands can reach far beyond the crowds at Baselworld through digital publications and social media.

However, even in the age of digital, value still existed in the fair. Baselworld is in the DNA of the watch industry and because no one wants to be “the guy” responsible for taking such an incredible risk in leaving this institution, the fair lived on, despite being antiquated.

Then, Baselworld got cocky. Its management overestimated the value they delivered, refused to add to their offering by, lets say, building a significant digital presence of their own, and they soured their relationships with brands.

First, Cartier and Baume et Mercier left the fair in 1991 seeking value and opportunity. Then, in 2018, the entire Swatch group followed. And that’s when the show was shortened by two days.

Nick Hyek, Swatch Group CEO, said,

“…annual watch fairs, as they exist today, no longer make much sense. This does not mean that they should disappear. But it is necessary that they reinvent themselves, responding appropriately to the current situation and demonstrating more dynamism and creativity…The MCH Group, which organizes Baselworld, is clearly more concerned with optimizing and amortizing its new building – which, incidentally, is largely financed by the watch industry during the fairs – than it is in having the courage to make real progress and to bring about true and profound changes.”

And now, the nail in the coffin, the exit of the fairs two largest attractions – Rolex and Patek Philippe.

Baselworld Fair
Source: Baselworld

Last Hope
Baselworld as we know it is dead. Can it be saved? If LVMH stays with the fair, on new terms (I’m sure), and Baselworld manages to even earn Swatch back as a client, yes.

While losing Rolex and Patek is a devastating blow, it’s also an opportunity. From one lens, the show is now more attractive to brands like Zenith, Tag Heuer and Oris, brands that would have otherwise been overshadowed by the “giants.” Because the fair’s management will likely be working closely with LVMH to chart its path forward, I also wouldn’t be surprised if we see booths of leather travel trunks from Louis Vuitton and pop-up parties by Dom Perignon.

Yes, the fair we’ve known for 103 years has been forced to change forever, but maybe for the better.

UPDATE: LVHM has officially left Baselworld.