The postponement of an exhibition costs: in Baselworld they have made the budget and determined how much the loss will be for the organization and how much will be borne by the exhibiting companies. Here is the breakdown: the Swiss organizing company offers to postpone 85% of the cost for Baselworld 2020 to Baselworld 2021. The remaining 15% will remain to Mch Group, the company that controls the exhibition, to partially offset the costs already accrued) . Alternatively, exhibitors can request a cash refund of up to 30% of commissions, while 40% will be allocated to Baselworld 2021.
The clarification solves the doubts of many exhibitors, but certainly it will not be a pleasure to lose from 15% to 30%, according to which option will be chosen by the jewelery and watchmaking companies. On the other hand, the damage is also considerable for the company that promotes the fair. The Baselworld organization, specifies a release, involves a team of 25 people who work all year round, together with internal and external partners for planning, coordination, construction, marketing. And this translates into a financial commitment before the event itself. In addition, the suspension of the event was decided when most of the preparation costs for Baselworld 2020 had already been made. Finally, the fair company announced the launch of a new global digital platform, which is expected to be online before summer.
We are all together and for this reason we are committed to supporting our exhibitors in the best possible way in these turbulent times. We offer unprecedented conditions, which go far beyond contractual obligations (general terms and conditions) and are much more generous than the vast majority of similar European programs that have had to be canceled or postponed. It seemed essential to make these significant financial efforts. I wish all of us a return as soon as possible.
Michel Loris-Melikoff, CEO of Baselworld
