Photo from: Breitling
In a groundbreaking acquisition, Breitling has secured the iconic Swiss watchmaker, Universal Genève, for a staggering US$70 million, marking a significant leap into the high-end luxury market. This move unveils Breitling’s ambitious plans to resurrect the once-prominent brand and elevate it to new heights under the expert guidance of CEO Georges Kern.
Universal Genève, with its rich history dating back to 1894, had faced challenges during the quartz crisis but has now found a new patron in Breitling. The acquisition is not merely a business move; it’s a strategic decision to add a prestigious brand to Breitling’s portfolio and capture the hearts of watch enthusiasts.
Founded in 1894, Universal Genève has navigated a transformative journey, evolving into a prominent figure in the watchmaking landscape during the early to mid-20th century. The brand crafted timepieces with innovative designs and mechanical movements, earning acclaim for both men’s and women’s collections. However, the advent of the quartz crisis posed a significant challenge, leading the company to shift from its pioneering mechanical movements to quartz movements. Since 1989, the brand has been under the ownership of the Hong Kong-based Stelux Group. Breitling’s ambitious plan involves restoring Universal Genève to its former glory by harmonising Swiss tradition with contemporary allure.
Georges Kern’s track record at Breitling, where he nearly doubled the brand’s turnover and positioned it among the top 10 watchmakers, instills confidence in the success of this venture. With Universal Genève as a subsidiary, Breitling aims to tap into the US$15,000-$30,000+ market, a segment where it previously struggled to establish a strong foothold.
The acquisition aligns with Partners Group Holding AG’s strategy, Breitling’s majority owner, showcasing a meticulous approach to managing assets. Universal Genève, known for its intricate designs and in-house movements, becomes a jewel in Breitling’s crown, offering a unique opportunity to cater to discerning watch collectors.
The revival plan includes crafting bespoke movements exclusively for Universal Genève, distancing it from Breitling’s influence. This endeavour reflects a commitment to achieving a higher status within the watch community, with the goal of attracting seasoned collectors looking to ascend into the realm of ultra-luxury timepieces.
While other major players like Swatch Group and Richemont SA have been acquiring brands, Breitling’s decision to embrace Universal Genève speaks volumes about its aspiration to create a brand that stands out in the saturated market. The focus is not on creating a lower-tier brand but on reaching new heights and capturing the attention of those seeking an upgrade from the US$5,000-$10,000 market.
The historical significance of Universal Genève, from its innovative cocktail watches to pioneering chronographs, provides a solid foundation for the brand’s renaissance. The aim is to pay homage to its legacy without overplaying the heritage card, establishing a modern and fresh image.
As Breitling embarks on this meticulous journey, watch enthusiasts eagerly await the unveiling of Universal Genève’s new identity. Georges Kern acknowledges the challenge ahead, emphasizing that rebuilding a brand of such heritage is a labor of love that will unfold over the coming years. The promise is not just to revive a name but to restore the prestige of Universal Genève in the world of luxury timepieces.
In the ever-evolving landscape of Swiss watchmaking, Breitling’s acquisition of Universal Genève emerges as a beacon of innovation and dedication, setting the stage for a captivating chapter in the world of horology. The first glimpses of the revived Universal Genève watches are anticipated around 2026, and the industry watches with bated breath as these timepieces are poised to redefine the standards of luxury and craftsmanship.
