Baselworld – The World Watch and Jewellery Show – stimulates the rumor mill. Let me give an overview of the latest rumors I heard …
The following gossip, just to make this very clear, is of course NOT verified yet. But the gossip is real and in every rumor there is a little bit of truth as you of course all know … 🙂
The following gossip deals with the entire watch-industry and not only with Baselworld and brands that exhibit there …
- I heard that Richard Mille is for sale. Several sources tell me that the brand founded by Richard Mille will be bought soon. One of the possible buyers named is PPR (Pinault-Printemps-Redoute)
- The rumors that Audemars Piguet (AP) is for sale don´t want to die. Of course everyone at AP denies that this could be true, but the rumors are real. Again PPR is named as a potential buyer, as well as Channel.
- I heard that Chinese Investors could buy Corum. Corum seems to run out of money and Corum recently again dismissed several employees.
- I heard that Chinese Investors could by Perrelet. Perrelet recently again dismissed several employees.
- Rumors tell that Raymond Weil is still for sale. Over the last years several international banks, like Rothschild, were trying to find a buyer for Raymond Weil, but did not find one yet.
- Rumors tell that Eterna´s future will be manufacturing inexpensive watches with third-party movements. The Chinese owners obviously think the name Eterna alone is strong enough …
- Rumors tell that the new TAG Heuer-CEO could be announced during Baselworld. You all know that Jean-Christophe Babin, the current TAG Heuer-CEO, will become the new Bulgari-CEO. Two names for his succession seem to be a good bet: Giorgio Sarne, the TAG Heuer General Manager and Roberto Eggs, he is president of LVMH Northern Europe.
If you guys want to add something you might know and I have not mentioned here, please don´t hesitate. In the end we will see if this was just gossip … 🙂
…the Luxury market is afloat because of the Chinese consumer. They are buying in mass because it is Swiss, Italian or French made…..
Confirmation just came in that Pomellato is sold to the PPR-Kering group. I personally regret this move very much.
as long as just owners change…
remember what everybody thought when indians bought jaguar and land rover and see what really happened: they are fit as never before, have plenty of money for r&d and simply do well. same with volvo and china…
so just wait and see… or buy on your own 🙂
Wow, if the Swiss would be stupid enough to allow of their precious assets to be gobbled up by the Chi-coms, then they deserve it.
A name like Corum or Perrelet having a Chinese owner would be a massive turn-off for watch collectors like me.
They may as well as go out of business and save their dignity in the process.
Ron, I agree with you. Us true Swiss watch collectors just won’t have it. We want our Swiss watches to be Swiss. We don’t want to see the Swiss watch industry bastardised. For this very reason I was turned off TAG Heuer when they announced that they had bought the rights to Seiko’s base calibre movement to create their Calibre 1887 movement. Don’t get me wrong, I love Seiko and I have 3 Seiko watches including an Ananta Spring Drive GMT. They are one of the greatest vertically integrated Manufacture watch companies this world has but if I want a Seiko I will expect it to be made in Japan and nowhere else and if I want a Swiss TAG Heuer watch then I expect it to be ALL made in Switzerland and nowhere else. The American brand Bulova is now also a turn-off after being bought by the Japanese Citizen Group. I will never buy Bulova now either. Any Swiss watch brand that’s sold offshore will be a turn-off and plummeting sales will prove it in the long run.
Hi, If the rumors come trough these prestigious names will be lost to the Swiss watch industry. Not much surprise here. It is happening now for a decade. The Chinese producing reasonably comparative movements and cashed up to by any industry which is straggling to stay afloat. Richard Mille priced itself out of the market.
Les