RX France continues to manage the Yachting Festival in Cannes until 2041
A Paris Court of Appeal ruled that RX France (previously Reed Expositions France) continue to manage the Cannes Yachting Festival until 2041. The court decision comes after some five years of legal proceedings initiated by the French Boating Industry Federation (FIN) in 2016, which challenged a contractual agreement between the FIN and RX France granting the latter management rights to the Cannes Yachting Festival until 2041. As a reminder, the Competition Authority dismissed the FIN's claims against RX France on 9 August 2017, and the FIN was also dismissed by the Administrative Court on 30 June 2020 in its case against the Nice-Côte d'Azur CCI (Chamber of Commerce and Industry)
‘’This is a victory for common sense and good business practices. We entered into the contract in good faith and under our watch the Cannes Yachting Festival has become Europe’s largest in-water boating event. We are particularly grateful for the support we have received from our clients, the host city of Cannes and the Chamber of Commerce of Nice-Côte d’Azur,’’ notes Michel Filzi, Chief Executive of RX France.
At the same time, the Court, like the judges of first instance, rejected Reed’s counterclaim to be recognised as the owner of the Yachting Festival Cannes. This decision therefore definitively recognises the full ownership of the Yachting Festival by FIN. They issued the following statement confirming the retention of ownership of the events:
“We take note of this decision which is, it is true, a real disappointment. But we need to think about the next Yachting Festival, Europe’s largest in-water boat show, and about its exhibitors. It is a major international event which is eagerly awaited by all the companies operating in our sector, especially after a year marked by the health crisis. Therefore, we hope to find the best possible collaboration with the organiser, to continue to develop our boat show, both for the next September edition and for the future.”
The next physical edition of the Cannes Yachting Festival is scheduled to take place September 7-12, 2021. The show will welcome 470 players from the French and international boating industry, including 120 new customers. Afloat and ashore, 560 new units from 3 to 45 meters, monohulls or multihulls, will be exhibited at the Vieux Port for motorboats and at Port Canto for sailboats, of which nearly 150 will be presented in world premieres.