Bulgari Latest Brand to Exit Baselworld

RAPAPORT... Italian luxury brand Bulgari has confirmed it will not be participating in the 2020 edition of Baselworld, a little over a week after Gucci announced it was exiting this year's show.The reasons behind Bulgari's departure were not specified in a statement Baselworld released Tuesday. However, the LVMH-owned brand "remains open" to a return next year, it noted. "We will take our decision by June 2020 once Baselworld 2021 concept, dates and costs [are] clarified," said Bulgari CEO Jean-Christophe Babin.Bulgari is the third major brand to pull out of the event this year, with luxury watchmaker Breitling citing a scheduling clash. Baselworld was historically held in March, but this year will run April 30 through May 5, immediately after Watches & Wonders Geneva - formerly Salon International de la Haute Horlogerie - which takes place between April 25 and 29.While Bulgari will not be present at this year's event, its sister brands in LVMH's watch division are slated to participate. "TAG Heuer, Hublot and Zenith [remain] committed to Baselworld in 2020. We believe in the importance of a major event for the Swiss watch industry and look forward to a successful fair, both in terms of image and sales, for our three maisons," said LVMH watch division president Ste??phane Bianchi.The trio will join several first-time exhibitors, including Dolce & Gabbana and auction house Phillips, which will be showcasing a selection of timepieces from its spring auctions.Image: A Bulgari store in Thailand. (Shutterstock)