Baselworld to Drop Name, Change Venue

RAPAPORT... Baselworld's organizers are planning to change the event's name, restructure its format and choose a new location following its falling-out with exhibitors and the cancellation of its January 2021 show."The date of January 2021 has been abandoned and the name of Baselworld is going to be dropped," a spokesperson for parent company MCH Group told Rapaport News Monday. "A new format can be reborn."MCH will choose a new venue once it has decided on the format, she added. Baselworld is currently carrying out a survey of exhibitors to gauge their preferences, and intends to publicize its plans by the end of June.A possible setting is Lausanne: MCH has blocked off dates at a convention center it owns in the Swiss city, and has registered the name Swiss Watch Week, trade magazine WatchPro reported Monday.The changes would cap off a challenging 2020 for MCH after the coronavirus forced it to reschedule this year's show for January 2021. Exhibitors then complained about the new timing and the refund policy, resulting in major brands such as Rolex and Patek Philippe withdrawing, and the company canceling that event too. It has since reached a deal with exhibitors in which they will receive a refund of two-thirds in cash, with "a third of the costs to be borne all together," the spokesperson added. Exhibitors have until May 31 to apply for the reimbursement, which they will receive within 10 working days of their request.While the Basel watch and jewelry show is more than 100 years old, it only took on its current name in 2003. Before then it was known simply as Basel.Image: Crowds at the Baselworld show. (MCH Group)