Munich-based luxury watch manufacturer Chronoswiss announced a 62 percent increase in sales over the nine-month period ending September 30. During a press conference held on Wednesday at the Chronoswiss manufacturing subsidiary in Biel, Switzerland, Gerd-R. Lang, founder and sole shareholder of Chronoswiss, announced the brand’s strategy for the next decade.
Chronoswiss will remain independent in ownership and management and will not deviate from its philosophy of steady but healthy growth. “We have the ultimate luxury of not being absorbed by shareholder value” said Lang. “That is why we can and will use any increased corporate revenue for one purpose only: to build better watches.”
“Due to its size and structure, Chronoswiss has been hit much less by the recession than most other brands” adds Hartmut Kraft, President of Chronoswiss of North America. “That is why we are even more confident that this year’s dramatic improvement will cement the success that we had with our ultra-conservative distribution strategy for North America.” Despite a still struggling U.S. jewelry and watch industry, Kraft is looking back on two years of constant growth in the U.S. market.