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While the pandemic has caused many organizations to adapt during these uncertain times, others have canceled upcoming events until coronavirus blows over. Baselworld 2020 was initially scheduled to take place in Basel from April 30th to May 5th. However, after Switzerland's ban of largescale events due to the pandemic, the fair was then rescheduled for 2021. As of right now, Baselworld 2021 is officially canceled.

“I welcome the constructive attitude of the representatives of the MCH Group, which has enabled us to find a balanced solution,” says the president of the Swiss Exhibitors’ Committee and director of Rolex, Hubert J. du Plessix, in a statement yesterday. “I would also like to thank Patek Philippe, Rolex, Tudor, Chanel, Chopard, Hublot, Zenith and Tag Heuer, who, in a spirit of solidarity with the sector as a whole, have agreed to a lower refund so that the other exhibitors can benefit from better conditions.”

“We are pleased to have worked together and, in just a short time, found a solution that is acceptable to everyone," added Bernd Stadlwieser, CEO of the MCH Group, "In the light of the large loss of revenue due to COVID-19 and our responsibility to all our stakeholder groups, this solution marks the limit of what is possible for us. With the amicable settlement for Baselworld 2020, we can now concentrate fully on the future.”

Baselworld has been a world-class event, showcasing the highest of quality from high-end watch and jewelry exhibitors. However, the fair had rubbed many of those companies the wrong way, causing Rolex, Patek Philippe, Chanel, Chopard and Tudor to band together and create their own event in Geneva. “a number of unilateral decisions made without consultation by Baselworld management, including the postponement of the watch show until January 2021, as well as its inability to meet the brands’ needs and expectations,” said the businesses in a joint release.

Even though Baselworld is currently off-the-table, the MCH Group is still working toward organizing something in the coming years.

“Together with the exhibitors and visitors, we are working intensively on clarifying and discussing the requirements and options for new platforms. We will be taking a decision on possible follow-up formats by the summer and will then provide information on the new concept and scheduling,” said managing director of Baselworld, Michel Loris-Melikoff in the statement.

Information originally sourced from Forbes.