Postponement of the deliberation to May 27 for the attribution of the Cannes Yachting Festival
Initially scheduled for this Thursday, April 15, 2021, the decision of the Court of Appeal of Paris in the dispute around the organization of the Cannes Yachting Festival is still pending. We have learned that the court has postponed its deliberation to May 27, 2021. This is not the first delay in the case between the Federation of Nautical Industries (FIN) and Reed Expositions. As a reminder, this one started in October 2016 when FIN terminated the contract binding it to Reed for the management of its Paris and Cannes boat shows. The debates focus on the validity of a clause in the terminated agreement that awarded Reed Expo the operation of the Cannes Yachting Festival until 2041, even in the event of a breach of contract.
A delicate context for boat shows
While the situation remains delicate for the events and boat shows, the announcement is damaging because of the persistent lack of visibility for boat shows. The cancellation of the 2020 editions of all the traditional physical yachting events and that in progress of many events in 2021 makes their economic situation complex. The Cannes Yachting Festival, which according to some could mark the revival of boat shows on French territory, although probably penalized by the difficulties of international travel, requires a strong anticipation.
If Reed has already started its marketing and communication, the hypothesis of a change of operator leaves a doubt. For its part, FIN, through the Virtual Nautic, has tried the necessary experiment of a virtual show, arriving, according to its statements, at a balance. But, while the Nautic has lost its international character, the international image and profitability of the Cannes Yachting Festival would allow the FIN and its subsidiary Nautic Festival SA to benefit from a physical flagship. Whatever the court's decision in May, subject to a new postponement, let's hope that the parties will be able to keep a constructive attitude to keep the event alive for an industry in need of a show.
