Facts, figures and insights about the Hamburg based Wempe KG

I am not sure if all of you know who Wempe is and how the German jeweler is performing worldwide. I promise you, when you read this you will be amazed…

The Hamburg/Germany based Wempe KG is pure family business, today run by Kim-Eva Wempe. Kim-Eva and here father Hellmut Wempe own the company and they are personally liable partners in their limited commercial partnership. The name Wempe has stood for highest competence in fine watchmaking and jewelry for more than 130 years and this in 29 showrooms worldwide: Eighteen in Germany, one in London, one in Paris, one in Vienna, one in Madrid, two in New York, one in Beijing and two on the cruise liners MS Europa I and II.

Yesterday, just before the presentation of the line extension of the Wempe Zeitmeister collection, Kim-Eva Wempe informed me about the performance of her company in 2012.

 

Kim-Eva WEMPE, yesterday in Hamburg
Kim-Eva WEMPE, yesterday in Hamburg

 

My dear friends please lean back and read this:

 

In 2012 the Wempe KG realized a turnover of 441 million Euros. This is an increase of 20,09 % compared to 2011.

Here the results in detail:

USA +21,3 %

Germany +16%

France +12,2 %

Austria +11,8 %

England +10,4 %

Spain +3,9 %

 

Kim-Eva Wempe reminded me about the following openings:

 

“Wempe opened the first store in Asia”.

This was the official statement given to the press on the 31. January 2013: “The Hamburg-based jeweler Wempe has opened its first shop in Beijing, the 29th of the company’s branches all over the world. The new concept store, which has a business area of almost 600 square meters, is located in the ultramodern glass-and-steel pyramid Parkview Green, one of the most striking new buildings in China’s capital city. Many tourists from China have already become familiar with Wempe, as well as its outstanding expertise and comprehensive service, on their travels to Germany and the rest of Europe. In the new shop in Beijing, they will now be able to experience in a new setting the traditional values that Wempe has represented since 1878. The concept store will not only bring masterful examples of the art of German jewelers and watchmakers to China but also highlight the art of measuring time through its interactive exhibits.”

 

“Wempe opened a store at the Frankfurt Airport FRA”.

This was the official statement given to the press on the 10. Octoiber 2012: “The 26th Wempe branch opens at Frankfurt airport in October 2012. Customers will now find fine watches and jewellery from Wempe in the new Non-Schengen area located at Terminal 1, Level 3, Gates Z.”

 

Wempe opened a Rolex Boutique in New York”.

This was the official statement given to the press on the 10. May 2012. “Rolex and Wempe open in New York City their latest joint boutique: New York City,
665 Fifth Avenue at 53rd Street.“

 

The like-for-like sales (adjusted for retail space) in 2012 rose 15,2 %, the non-German countries contributed 33,7 % of the entire turnover of the Wempe KG.

The turnover with watches increased + 20%, with jewelry +5,6 %

Turnover per square meter: 93.000 Euros

Turnover per employee: 694.000 Euros

These last figures are three times (!) higher as the average in this sector.

The equity ratio is 51 %

The average price of a watch sold at Wempe is 6000 Euro.

681 employees and 78 apprentice work for Wempe.

The Wempe-own after sales department received 40.369 orders.

 

The best-sold brands at Wempe in terms of value are:

  1. Rolex
  2. Patek Philippe
  3. Jaeger-LeCoultre

The best-sold brands at Wempe in terms of pieces are:

  1. Rolex
  2. Longines
  3. Wempe Zeitmeister

 

Now, to complete this insight let me give you a first view on the figures for 2013:

 

In the first six months Wempe made a turnover of 191,4 million Euros, this is an increase of +3,8 % compared to 2012. Actually especially the turnovers in France and Spain are quite very weak. Kim-Eva Wempe hopes to compensate these unpleasant developments with the opening of two new mono-brand boutiques run by Wempe. An A. Lange & Söhne boutique in Munich / Germany and a Jaeger-LeCoultre boutique in Frankfurt Germany.

 

 

What do you think ladies and gentlemen? Impressing? It´s a family business!

Kim-Eva, thank you for your precious time and the refreshing frankness 🙂

CHAPEAU!

 

 

 

More from Alexander Linz

Baselworld 2016: Bell & Ross BR 03-94 AeroGT

With the BR 03-94 AeroGT Bell & Ross now can rely on three pillars: planes,...
Read More

7 Comments

  • I believe Wempe produces their own line of watches, similar to Tourneau in the US, but do they now or are they planning on doing a manufacture movement in the future? Aren’t all their calibres now outsourced?

    Thanks.

    • Wempe already launched two collections with own calibers. So they already showed how to manufacture even own movements. But for entry price level Wempe has no other choice then to use Eta and/or Sellita calibers. I believe with Sellita they have found a new reliable partner after the ongoing fade-out of Eta’s …

  • Non Listed family business like Patek Philippe, Wempe, Bayer, Hermes tends to run better that big listed conglomerate ( no name please!) on the long term. Bravo Wempe! Great choice of watches and great service!

  • Fantastic to see a multi generational family business being so pro active and successful. It will be interesting to see the evolution of the Wempe name in Asia as so much of the luxury watch market’s turnover is in this region today.
    A great insight into an iconic business.
    Thanks for sharing..

  • you sure about the per-square -meter number? it would make wempe nearly twice as efficient in revenue generation than apple!

  • the like-for-like sales is not adjusted for retail space, but adjusted for new stores opening.

    you take only stores that have been in operations for 12+ months when talking about like-for-like (or sometimes referred to as comparable stores/comp stores or same store basis).

Comments are closed.