What's Happening?
Art Basel Paris has announced the promotion of Karim Crippa, previously head of communications, to the position of director. This change follows the departure of Clément Delépine, who has moved to lead
Lafayette Anticipations. The recent edition of the French fair was considered a success by many dealers, despite ongoing challenges in the art market. The event highlighted a trend where women collectors are outspending their male counterparts by 46%, according to a survey by Art Basel and UBS. Additionally, Paris Internationale plans to expand with a new fair in Milan next year.
Why It's Important?
The leadership change at Art Basel Paris comes at a critical time as the art market seeks stability and growth after a prolonged slump. The success of the recent fair indicates potential recovery, although it remains uneven. The increased spending by women collectors suggests a shift in the demographics of art buyers, which could influence future market dynamics. The expansion of Paris Internationale to Milan reflects a strategic move to tap into new markets and opportunities, potentially boosting the European art scene.
