Covid-19 (Coronavirus) Fears Hits Luxury Watch Industry

Covid-19 (Coronavirus) Fears Hits Luxury Watch Industry

Luxury watch brands are increasingly concerned over the spread of the Coronavirus with some pulling out or cancelling their events.

The deadly Covid-19 (Coronavirus) has sent shockwaves across the luxury watch industry as several high profile events have seen brands pullout or simply canceled altogether.

The latest casualty comes in the form of Bulgari’s exit from Baselworld 2020, which is slated to take place 30 April to 5 May, 2020. The brand will instead focus on conducting more regional events to launch its novelties this year.

In a statement Bulgari’s CEO Jean-Christophe Babin said, “We are obviously disappointed not to participate in 2020, but as told in the past, we remain open for 2021 onwards to continue with Baselworld.”

There is however some good news for Baselworld as the watch division of LVMH Group confirmed the presence of three of its brands: TAG Heuer, Hublot and Zenith at the show.

In other news, travel concerns related to Covid-19 have caused the recent cancellation of Grand Seiko’s Tokyo Summit, originally slated to be held from 4 to 6 March.

Seiko Watch Corporation’s President, COO and CMO Shuji Takahashi said as the Coronavirus continues to spread there is no immediate sign it is likely to be contained in the near future.

“The health of our guests is our paramount concern and, at this moment, we are not able to guarantee that you would be completely safe,” he said in a press statement.

Other high profile events that have been impacted by Covid-19 include the recently cancelled Mobile World Congress in Barcelona, which was slated to take place from 24 to 27 February, 2020.

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