Watchmaking company Raymond Weil has decided not to attend the international watch fair Baselworld 2019, after participating in it for over 40 years.
A statement by group said that in a world that is “constantly evolving”, communication is based on a more “direct and spontaneous process” of distribution, and added the group is more “client oriented”, rather than B2B, which is “mainly what Baselworld represents”.
Elie Bernheim, CEO of the family-owned independent brand, said: “Evolutions in the watch industry have pushed us to review our strategy. One must know how to adapt to one’s era.”
The announcement comes after the news of Swiss watch giant Swatch Group announcing that it will not be returning to the trade show earlier this year.
The announcement was made in an interview with its CEO Nick Hayek published in Swiss newspaper NZZ am Sonntag, that the group which owns brands such as Omega, Tissot and Longines will not be present at the show in 2019.
Hayek said: “The MCH Group, which organises Baselworld, is clearly more concerned with optimising and amortising its new building – which, incidentally, is largely financed by the watch industry during the fairs – than it is in having the courage to make real progress and to bring about true and profound changes.
“Everything has become more transparent, faster-paced and more spontaneous. The traditional, annual watch fairs are therefore no longer useful for us.”