Swatch Says Baselworld Pullout Is Permanent as Watch Fairs Wilt
- CEO Hayek says watchmaker has no need for such a trade show
- Shares of Baselworld’s organizer, MCH, decline in Zurich
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Swatch Group AG Chief Executive Officer Nick Hayek said Switzerland’s largest watchmaker has no plans to return to Baselworld in coming years, raising the risk that the industry’s largest annual fair may become obsolete.