Breitling Buys Watchmaker Universal Geneve In First Major Deal
The Swiss luxury watch manufacturer Breitling AG is all set to make its first huge acquisition by purchasing Universal Geneve while attempting to revive the brand, which faded from its heyday years ago.
This deal would mark a major turning point for Breitling, which took a position among the top 10 Swiss-made watches by sales in 2022.
The company at present is under the control of the Swiss Private Equity company Partners Group Holding AG and has been revived under its CEO, George Kern.
Kern, in an interview, had said that “Breitling will hire a team of designers and executives to run Universal Geneve as a separate entity. There are plans to bring back famous models such as the Gerald Genta-designed Polerouter as well as the Compax sports watch, which was popular in the 1960s and 70s.”
“It is the best dormant or semi-dormant watch brand on the planet,” Kern said about Universal Geneve, which was established in 1894.
The very first lot of watches will hit the market by 2026 and will have a price that will be pretty well above the average price of Breitling watches.
“It will be much more expensive,” said Kern. This acquisition of Universal Geneve would give Breitling their second major brand.
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