There's Life in Baselworld Yet

RAPAPORT... Baselworld 2018, which ended Tuesday, saw a year-on-yeardecline from 1,300 exhibitors to approximately 650, and was shortened fromeight days to six. Considering that the world's largest watch and jewelry fairhosted 1,500 participants in 2016, this year's drop seems even more dramatic. Moredefections are expected next year as contracts with exhibitors expire. In a terse statement in November, Baselworld officials reiteratedthe defiant stance they took during the 2017 show: that they had decided tomake it a leaner event by focusing on quality rather than quantity. Yet did a leaner Baselworld deliver for exhibitors andbuyers? It depends whom you ask. The larger brands - with their majesticthree-story booths in hall 1 - would say the show was a success. But away fromthe crowds the results were mostly mixed. Baselworld officials said there was an 8% increase inattendance during the first two days of the show, a figure those at the fairmistrusted. There were also rumors that there would be more adjustments to the Swissshow's new format. The most interesting one is a change of date to align moreclosely with the Salon International de la Haute Horlogerie, held in Geneva inJanuary, though the official Baselworld website already has the 2019 datesposted as March 21 to 26. Whereas in previous years, exhibitors filled every corner ofthe massive, five-building Baselworld complex, this year the defectors' absencewas striking. Halls 4 and 5 were closed and halls 1 and 2 each lost a third of theirexhibitor space. The jewelry exhibitors' area in hall 2, where two floors of exhibitionspace were pared down to one, took the hardest hit. One participant, a creator of one-of-a-kind pieces who requestedanonymity, complained that a shorter festival meant less time with journalists,which is important for his business. The founder of a large US jewelry brand whoattended as a visitor was shocked by the low number of jewelers in hall 2. However, several exhibitors in Hall 2 were upbeat. Amongthem was Laura Bicego, head of Italian gold jewelry brand Nanis, who washugging friends and customers as they came to visit. "There were a lot of big new customers, a lot of traffic,"she said, noting that that first day was slow but all the days following werebusy. "We were a bit worried at the beginning because of the reduction ofexhibitors and big names, but we decided to come anyway, and we are veryhappy." Michael Hakimian, CEO of pearl brand Yoko London, insistedthe fair was still a draw for the most important buyers. "I will exhibit here for the next 25 years," he said. On the second floor of hall 1 (hall 1.1), where severalbig-name jewelers exhibited, Roberto Demeglio, founder of his eponymoushigh-design brand, remained devoted to the show, saying his long-termcommitment would continue. The largest watch and jewelry brands led the support for Baselworld,most notably at the annual press conference prior to the opening of Baselworld,where key officials from Rolex, Patek Philippe, Chopard and Tissot expressedtheir dedication to the fair. The press conference was highly unusual not only because itbrought brand representatives on stage, but it allowed them to promote theirproducts. Baselworld officials also refused even to hint at the controversiessurrounding the show, and refused to take questions from the press. Welcome to the new Baselworld, still a work in progress.