Breitling Makes Acquisition with Purchase of Universal Geneve in Debut Major Transaction
By Benjamin Webster
In a strategic move signaling its entry into the world of acquisitions, renowned Swiss luxury watchmaker Breitling AG has made a significant purchase, acquiring Universal Geneve with the aim of reviving a brand that has gradually faded since its pinnacle decades ago.
This pivotal deal marks a turning point for Breitling, a company that soared into the top 10 Swiss watch companies by sales in 2022, renowned for its aviation-themed chronographs like the iconic Navitimer. Under the leadership of Chief Executive Officer Georges Kern, the company, controlled by Swiss private equity firm Partners Group Holding AG, has experienced a remarkable revival.
In an exclusive interview, Kern revealed that Breitling is set to assemble a dedicated team of designers and executives to manage Universal Geneve as a distinct entity. Ambitious plans are in motion to reintroduce legendary models, including the Gerald Genta-designed Polerouter and the Compax sports watch, which enjoyed popularity during the 1960s and ‘70s.
Describing Universal Geneve as “the best dormant or semi-dormant watch brand on the planet,” Kern, with evident enthusiasm, shed light on the brand’s rich history, tracing back to its founding in 1894.
Anticipating the first watches to hit the market by 2026, Kern emphasized that these timepieces would be positioned well above Breitling’s average price point of approximately 6,700 Swiss francs ($7,640). “It will be much more expensive,” he stated, underlining the brand’s commitment to positioning Universal Geneve as a high-end offering.
Universal Geneve, once a paragon of Swiss watchmaking and immensely popular, faced financial challenges during the quartz crisis in the 1980s, a fate shared by many mechanical watchmakers. Since 1989, the brand has been owned by Hong Kong-based and listed Stelux Holdings International. The sale price, as disclosed in a corporate filing by Stelux, amounts to about 60 million Swiss francs, payable over a span of five years.
With the acquisition of Universal Geneve, Breitling expands its portfolio to encompass a second major brand, placing it in competition with industry conglomerates such as Swatch Group AG and Richemont, each boasting ownership of around 10 timepiece brands. Rolex, the leading Swiss watchmaker by sales, also has a stake in the Tudor marque.
Kern had previously hinted at Breitling’s interest in acquiring other watch brands with the potential for rejuvenation, expressing a broader strategic vision for the company’s future in the dynamic world of luxury watchmaking.
