In the ever-evolving landscape of luxury watches, Breitling AG has orchestrated a strategic move that’s making waves in the industry. The renowned Swiss watchmaker, known for its aviation-themed chronographs, has embarked on a journey to revive the once-iconic brand, Universal Geneve. This bold acquisition signals a turning point for Breitling, propelling it into the league of watchmaking groups.
Breitling’s resurgence in recent years is synonymous with the leadership of CEO Georges Kern. Under his guidance, Breitling has not only revived its own brand but has also climbed the ranks to become one of the top 10 Swiss watch companies by sales in 2022. Kern’s vision and strategic decisions have breathed new life into Breitling, transforming it into a force to be reckoned with in the competitive world of Swiss watches.
With this acquisition, Breitling has found itself a historical gem. Founded in 1894, Universal Geneve boasts a rich history in watchmaking. Once among the most famous and popular Swiss brands, it faced financial challenges during the quartz crisis in the 1980s. Since 1989, it has been under the ownership of Hong Kong-based and listed Stelux Holdings International. Now, with Breitling’s acquisition, Universal Geneve is poised for a revival, with plans to resurrect iconic models like the Polerouter and Compax.
Georges Kern, in an interview, expressed his enthusiasm for Universal Geneve, calling it the “best dormant or semi-dormant watch brand on the planet.” Kern envisions a separate entity for Universal Geneve, complete with a dedicated team of designers and executives. The plan includes bringing back revered models and introducing new watches to the market by 2026. The price tag for these revived timepieces is expected to surpass Breitling’s average, positioning Universal Geneve in the premium market.
The deal saw Breitling acquire Universal Geneve for approximately 60 million Swiss francs, to be paid over five years. This move expands Breitling’s portfolio, giving it a second major brand and strengthening its position in a market dominated by conglomerates like Swatch Group AG and Richemont. Kern hinted at the possibility of further acquisitions, stating in a 2022 Bloomberg interview that Breitling was considering acquiring other watch brands for a potential revival. This signals a dynamic future for Breitling as it aims not only to solidify its own brand but also to breathe new life into other historical watchmakers.
As Georges Kern steers the ship towards a future of revival and innovation, the watch enthusiasts of the world eagerly await the unveiling of resurrected classics and the emergence of new, premium timepieces. And yes, I will say it. I did not see this coming. I was convinced Kern’s next move was simply selling his stake in Breitling and moving to someplace sunny, perhaps even venturing full time into the movie business. Yet here we are!