This information was due for a couple of weeks now: Eterna and the Porsche Design Group will end their license agreement for the development, production and sale of high-quality watches that was started in 1997.
After the family Porsche sold Eterna to the China Haidian Group the climate in-between the two business partners day by day got rougher. In the beginning the Porsche Design Group still agreed that Eterna should continue to produce the Porsche Design watches. But after all the recent turbulences and bad news around Eterna (I have been reporting about the issue here on the blog), the Porsche Design Group took the decision to separate from Eterna.
This is the official statement: “The Porsche Design Group (Porsche Lizenz- und Handelsgesellschaft mbH & Co. KG) and Eterna AG Uhrenfabrik, based in Grenchen, Switzerland, are ending their license agreement for the development, production and sale of high-quality watches.”
After tough and long negotiations today it got official… Whilst the Porsche Design Group is ready to get back into the watch business very soon, I personally doubt that Eterna can look into a bright future from now on.
The Porsche Design Group has already put together a high-performing team to start its own watch production including own calibres. I will inform you about more details very soon, today I am only allowed to tell you that we will see first own produced Porsche Design watches already end of this year.
In the press statement Eterna somehow seems to celebrate this separation, but honestly I think this is the beginning of the end. Eterna literally does not exist any more and without Porsche Design as a valuable partner there is even much less now. So let me ask this question: Eterna quo vadis?