Art Basel owners to sell stakes in India Art Fair and Art Düsseldorf

Art Düsseldorf 2017. Photo: Sebastian Drüen

The art fair conglomerate MCH Group is to pull its investment from the India Art Fair, the 25 percent share it holds in Art Düsseldorf and its involvement in Art SG, a new Singaporean art fair due in November next year. Instead the company will concentrate on its core Art Basel and Masterpiece brands, with view of expanding in Asia. Art Basel already operates in Hong Kong, as well as Switzerland and the US, as well as inaugurating its Cities initiative in Buenos Aires this year.

Hans-Kristian Hoejsgaard, the interim CEO of the MCH Group since the start of September 2018, offered this explanation 'We must and wish to further develop our classical live-event competence into an integrated experience-marketing competence in the physical and digital fields.'

The events group has also cancelled plans to expand the Grand Basel car fair in Miami Beach.

6 November 2018