Masterpiece London 2017. Photo: Andy Barnham. Courtesy: Masterpiece London.

Art Basel Parent Company Buys Majority Stake in Masterpiece London

The MCH Group, the parent company of Art Basel, has bought a majority stake, 67.5 percent, in Masterpiece London, a relatively young art fair that presents art and antiquities, ranging from contemporary works to rare books, jewelry, and ceramics, at the Royal Hospital Chelsea every summer. Led by Lucie Kitchener, the fair will expand to the United States, Asia, and the Middle East in the coming years. Kitchener will remain managing director of the event and will now also be responsible for the new business unit within the MCH Group, overseen by chief executive René Kamm.

“With the integration of Masterpiece London, MCH Group is further expanding its already strong position in the key global collectors’ markets,” the company said in a statement. “Presenting the finest works of art from antiquity to the present day, and with a unique focus on cross-collecting, Masterpiece London ideally complements MCH’s collector events portfolio with Art Basel (in Basel, Miami Beach and Hong Kong), the Design & Regional Art Fairs and the newly launched Grand Basel for exclusive automobiles, which opened in Basel in 2018.”

The MCH Group has also announced that it is realigning its organizational structure to better implement corporate strategy, and that Christophe Biollaz, the head of finance and administration, and a member of the company’s executive board, will step down in 2018. Marco Fazzone, the managing director of the Design & Regional Art Fairs, will also be leaving MCH Group at the end of January 2018.