Business News: Bulgari Pulls Out Of Baselworld 2020
After a successful LVMH Watch Week and with growing fears of a further virus outbreak, the Italian watchmaker is officially out of Baselworld.
One of the marque brands of Baselworld, Bulgari, is pulling out. In a press release sent this morning to all media, the famed Italian jeweler and watchmaker has decided not to participate in Baselworld 2020.
The reasons given were two fold. First, the brand already met its key clients and media while participating in the recently concluded LVMH Watch Week, making participation in Baselworld redundant. (read HERE, HERE, HERE). Second, the growing virus outbreak has affected worldwide travel and shows no signs of slowing down. My colleague Sophie Furley predicted further fallout from this virus in an article (HERE).
What’s next for Bulgari
As Bulgari has recently met key clients and media partners at LVMH Watch Week, the brand is prioritizing regional roadshows in their biggest markets to meet clients and press who were not in Dubai.
According to a statement by Christophe Babin, CEO of the Bvlgari Group, “This decision has not been an easy one but having in mind the SARS impact on the watch fairs years ago, we believe that the best option for Bvlgari is to go directly to the markets as of March. It does not mean that Bvlgari is definitely leaving Baselworld, and the decision for 2021 and beyond will be made by the end of June. As said in the past, the main criteria to continue participating to watch fairs will be the timing as well as the costs which today are not consistent with commercial requirements and returns of investments.”
Like other LVMH Group brands, Bulgari has started 2020 with fresh novelties – including the World Record Serpenti Seduttori Tourbillon (read HERE), the Diva Finissima Minute Repeater Malachite (read HERE), the Octo Finissimo Minute Repeater Gold (read HERE), and the new Octo Finissimo in brushed steel (read HERE). The brand has advised that new novelties will continue to be introduced throughout 2020, including teasing another world record.
Giving Back For Those Affected
Bulgari also announced in the press release an important donation to the Spallanzani Hospital in Roma, who has isolated the virus DNA structure. This donation helps to advance the acceleration development of antivirus remedies development for Coronavirus.
The story of Baselworld 2020 is far from over. Stay tuned to Watchonista as we continue to bring you updates regarding Baselworld and Coronavirus’ effect on the watch industry.