Every so often the landscape of the watch industry shifts: a key brand gets sold to a major watch group and the balance of power changes ever so slightly. In the last several years, some important changes in the big groups’ holdings have occurred: Harry Winston joined the Swatch Group, Kering acquired Ulysse Nardin, and both Citizen Group and Citychamp have made inroads into the Swiss watch world.
Here are the group rosters of brands:
SWATCH GROUP (Switzerland):
Breguet, Blancpain, Glashütte Original, Harry Winston, Jaquet Droz, Omega, Léon Hatot, Longines, Rado, Union Glashütte, Tissot, Calvin Klein, Balmain, Certina, Mido, Hamilton, Swatch, Flik Flak
Based in Bienne, Switzerland, the Swatch Group is the largest watch company in the world. Of the 8.46 billion Swiss francs ($9.04 billion) in net sales that it reported for 2013, SF8.17 billion ($8.74 billion) came from watches and jewelry. The publicly traded company owns 18 watch brands spanning the entire price spectrum. Breguet is the most expensive among them, while Omega generates the most revenue and is the third-largest Swiss watch brand.
The Swatch Group is the most powerful company in the Swiss watch industry due to the many components makers it owns. Thanks above all to ETA, its movement-production company, the Swatch Group is far and away the top supplier of watch movements to the Swiss industry. It also owns Nivarox-FAR, the top supplier of hairsprings. In keeping with a 2013 ruling by COMCO (the Swiss Competition Commission), the Swatch Group will gradually slow its sales of mechanical movements to outside companies between now and 2020, though it will continue to supply escapements to third parties.
The Swatch Group made a notable acquisition in 2013 when it bought Harry Winston. Not only does the purchase give the Swatch Group added strength in the jewelry category, which has been a minor part of the group’s business, it also gives the company greater access to the world diamond market. In 2014, the group won a lawsuit with Tiffany & Co. over production of Tiffany brand watches; consequently the Swatch Group no longer manufactures watches under this marque.
According to the 2013 annual report, the Swatch Group has 184 subsidiary companies. At the end of 2013, the group had 33,590 employees.
RICHEMONT GROUP (Switzerland)
Vacheron Constantin, A. Lange & Söhne, Jaeger-LeCoultre, Roger Dubuis, Piaget, IWC Schaffhausen, Officine Panerai, Ralph Lauren**, Baume & Mercier, Cartier, Van Cleef & Arpels, Montblanc, Dunhill
Compagnie Financière Richemont SA is a leading player across a range of luxury products. It markets 20 brands, 13 of which produce watches; but by sales, it is predominantly a luxury watch group. Net sales for fiscal 2014 (which ended March 31, 2014) totaled 10.65 billion euros ($13.77 billion).
Richemont’s brands are grouped into divisions. The Specialist Watchmakers division is comprised of A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Ralph Lauren, Roger Dubuis and Vacheron Constantin. The Jewelry Maisons are Cartier and Van Cleef & Arpels. Cartier is the largest brand in Richemont’s portfolio and the number-two watch brand in the world after Rolex. Until recently, Montblanc was its own division; it has since been folded into the Other Businesses division, which also includes the menswear company Dunhill.
In fiscal 2014, the Specialist Watchmakers division made up 28 percent of all sales, with €2.99 billion ($3.86 billion). Thanks principally to Cartier, 51 percent of Richemont’s revenue came from the Jewelry division. A further 7 percent came from Montblanc, and Other Businesses made up 14 percent. Richemont is a publicly traded company and is based in Geneva. In fiscal 2014, it averaged 29,101 employees.
LVMH GROUP (France)
TAG Heuer, Bulgari, Hublot, Zenith, Dior, Fred, Chaumet, Louis Vuitton
LVMH Moët Hennessy Louis Vuitton SA is the largest luxury-goods group in the world. The conglomerate owns dozens of brands in the liquor, cosmetics, fashion, and watches and jewelry businesses. It also has an extensive retail division, with more than 3,000 stores worldwide. Based in Paris, the publicly traded company had total sales of €29.15 billion ($37.69 billion) in 2013. Its watches and jewelry division made up €2.78 billion ($3.59 billion) of that. LVMH has been building its watch division for the past 15 years; its most recent watch-brand acquisition was Bulgari, in 2012. Its biggest watch brand is TAG Heuer, one of the top-selling Swiss brands.
KERING GROUP (France)
Ulysse Nardin, Girard-Perregaux, JeanRichard, Gucci, Boucheron, Qeelin, Bottega Veneta
KERING is a large Paris-based group with a focus on fashion and retail. Formerly known as PPR, the publicly traded company changed its name in 2013. Last year, total revenues were €9.75 billion ($12.6 billion). Of that total, €6.47 billion ($8.37 billion) came from the luxury division, more than half of which was from Gucci. Kering has been building its watch business steadily over the last few years. In 2012 it purchased the Sowind Group, consisting of Girard-Perregaux and JeanRichard. Sowind makes Swiss mechanical movements, which appeared in Gucci watches for the first time in 2013. Another significant acquisition came when Kering bought the Swiss watch brand Ulysse Nardin. At the end of 2013, Kering had 35,000 employees.
SEIKO GROUP (Japan)
Seiko, Grand Seiko, Credor, Pulsar, Lorus, Alba, Orient
The Seiko Group is a massive, publicly held conglomerate that makes many types of products. It consists of Seiko Epson and Seiko Holdings. The watch business, Seiko Watch Corp., is part of Seiko Holdings. Seiko Epson produces some components and is the parent company of Orient Watch Co., Ltd. Seiko produces all the components used in both its mechanical and its quartz watches. While it is known primarily for the Seiko brand of watches, the group also makes high-end mechanicals under Grand Seiko (which it launched on the U.S. market in 2010) and a variety of offerings through its other brands. For the year ended March 31, 2014, the Seiko Group’s total revenues were $12.75 billion (Seiko Holdings’ were 308.2 billion yen, or $3 billion; Epson’s were ¥1 trillion, or $9.75 billion). Of that, ¥150.7 billion ($1.46 billion) were in watch sales. As of March 31, Seiko Holdings had 13,439 employees. Seiko and Grand Seiko have become separate, independent brands as of Baselworld 2017.
FOSSIL GROUP (USA)
Fossil, Relic, Michele, Zodiac, Skagen, Adidas*, Burberry*, Diesel*, DKNY*, Michael Kors*, Tory Burch*, Marc Jacobs*, Emporio Armani*, Emporio Armani Swiss Made*, Armani Exchange*, Karl Lagerfeld*
Fossil, Inc. is a publicly held company based in Richardson, Texas. It is a power on the fashion-watch scene, posting sales of $3.26 billion in 2013, 77 percent of them from watches, mostly fashion watches. Fossil makes watches under its own brand names and those of licensors. Its most recent acquisition was Skagen, purchased in 2012. While most of the Fossil Group’s movements are Japanese quartz, Fossil has recently made forays into the Swiss-made market, including the introduction of Fossil Swiss, a line of Fossil watches with quartz and mechanical movements produced by the group’s subsidiaries in Switzerland’s Canton Ticino. In 2014 the group added a Swiss-made line to the Emporio Armani brand. It also introduced a licensed watch brand under the name of fashion designer Tory Burch.
MOVADO GROUP (USA)
Ebel, Concord, Movado, ESQ by Movado, Coach*, Hugo Boss*, Juicy Couture*, Tommy Hilfiger*, Lacoste*, Scuderia Ferrari*
Based in Paramus, N.J., Movado Group International is a leader in the affordable luxury and fashion-watch segments of the market. In addition to its hero brand, Movado, MGI has two higher- priced Swiss luxury brands: Concord and Ebel. Nearly half of this publicly traded group’s revenue comes from its six licensed brands, a business that MGI has been developing since the late ’90s. In the year ended Jan. 31, 2014, the group had total sales of $570.3 million. As of early 2014, the company had approximately 1,100 employees.
CITIZEN GROUP (Japan)
Citizen, Campanola, Q&Q, Arnold & Son, Bulova, Bulova Accutron II, Bulova AccuSwiss, Wittnauer, Caravelle New York, Bulova Clocks, Frank Lloyd Wright*, Harley-Davidson*, Frédérique Constant, Alpina, Ateliers de Monaco
Citizen Group is a major vertically integrated company, with its business principally in watches, machine tools, components and electronics. It is publicly traded under the name Citizen Holdings Co., Ltd. For the fiscal year ended March 31, 2014, Citizen had net sales of ¥309.9 billion ($3.01 billion), up 13.9 percent over 2013. Of that total, more than half (¥162 billion, or $1.57 billion) came from the Watches and Clocks division. At the end of 2013, Citizen had 22,233 employees globally. In addition to finished watches, Citizen is a major supplier of quartz movements made by its movement-manufacturing division, Miyota. In 2008, Citizen acquired the American company Bulova Corp., adding its watch brands to the Citizen stable. In 2012, Citizen moved into Swiss manufacturing, buying the movement-maker Manufacture La Joux-Perret and its Arnold & Son brand. In May 2016, In May, Citizen agreed to buy Switzerland’s Frédérique Constant Holding SA and its three watch brands — Frédérique Constant, Alpina and the tiny Ateliers DeMonaco.
TIMEX GROUP (USA)
Timex, Nautica*, Opex*, GC*, Guess*, Salvatore Ferragamo Timepieces*, Versace*, Versus*
The Timex Group of Middlebury, Conn., is best known for its famous mass-market brand Timex. It also makes seven brands under license agreements, including two, Ferragamo and Versace, in the luxury segment. The company is privately held and releases no data on its sales or production.
FRANCK MULLER GROUP (Switzerland)
Franck Muller, Pierre Kunz, European Company Watch, Rodolphe, Martin Braun, Barthelay, Backes & Strauss**, Pierre Michael Golay, Smalto Timepieces*, Roberto Cavalli*
Headquartered in the town of Genthod outside Geneva, Franck Muller Genève is a Swiss luxury group. Most of the group’s holdings other than the original Franck Muller brand have been acquired in the last decade or so. The Franck Muller brand is the star of the group and its biggest seller. Franck Muller Group is privately owned and does not release sales data.
BINDA GROUP (Italy)
Breil, Freestyle, Hip Hop, Moschino*, Kenneth Cole*, Kenneth Cole Reaction*, Tommy Bahama*, Ted Baker London*, Chronotech*, Gametime*, Sperry Top-Sider*, Zoo York*
Binda is a watch and jewelry company focused on fashion brands. Based in Milan, the company owns Breil, Freestyle and Hip Hop. Its acquisition of the American company Geneva Watch Group in 2008 gave Binda a large array of licensed brands. Binda Group is privately held and does not disclose its sales numbers.
CITYCHAMP GROUP (Hong Kong)
Corum, Eterna, Ebohr, Rossini, Codex, Rotary, Dreyfuss & Co., J&T Windmills
Citychamp Watch & Jewellery Group Limited, formerly known as China Haidian, has recently become a force on the international watch scene. The Hong Kong-based company has a strong position in the Chinese market with its brands Rossini and Ebohr. But in the last few years it has begun to acquire international brands as well. They include the Swiss brands Corum, which Citychamp purchased in 2013, and Eterna, acquired in 2011. Last year, Citychamp acquired the Swiss Dreyfuss Group and its brands, including Rotary.
Citychamp is a public company. In 2013 it had revenues of 3.176 billion Hong Kong dollars ($409.8 million U.S.). At the end of 2013, the group had approximately 3,000 employees in Greater China and 200 in Switzerland.
FESTINA GROUP (Spain)
Perrelet, L.Leroy, Candino, Festina, Lotus, Jaguar*, Calypso*
The Festina Group is a private company based in Barcelona and owned by Miguel Rodriguez. Its key brands are Festina and Perrelet. Most of its brands are in the middle price range; two of them, Perrelet and L.Leroy, are in the luxury segment. Festina Group also owns Soprod, which makes movements for a number of Swiss brands, and the high-horology complications maker MHVJ. The Festina Group does not make its sales figures public.
* Watches are produced under a license agreement with the brand owner.
** The company is a joint venture between the group and the brand.
This article was originally published in 2015 and has been updated.
I enjoyed reading this article because I repair watches and so often it is difficult to find out who actually owns the brand. I am currently trying to find out who makes E.T.C. Co. Ltd watches, so far unsuccessfully.
I did not see Breitling in any of the groups. Is it still an independent?
Breitling is owned (mostly) by CVC Capital Partners
According to the 2013 annual report, the Swatch Group has 184 subsidiary companies. At the end of 2013, the group had 33,590 employees.
I own a Movado 14K Gold “Museum” watch that I purchased new, when the style first premiered in the 1970’s and want to have it serviced. I live in Studio City, California 91604. Where do you recommend that I bring it in person, versus mailing it somewhere. Thank you.
Can you do me a favour please give more details and I also want a catalogue of your company’s watches,i would be thankful to you if you tell me more about that.
I like the uncommon and have moved to independent brands that have a small, but excellent production. Every rich guy owns a Rolex (it seems) and I like the names which you may have never heard. Take a look at H Moser, Bovet, Van der Klaauw, Journe, and Maitres du Temps. They make great watches. For large production luxury companies, I think Omega is a good value. For everyday watches, I think Ball gives the best bang for the buck.
I recently purchased at a thrift store, a gold (toned) watch pendant on a chain with a rose to make the chain adjustable. On the watch there is the word Gendarme at he top, antimagnetic on top of the 6 and SWISS MADE on the bottom. It’s shaped in a ball and opens to reveal the watch. It appears very old and there doesn’t seem to be any information on the internet about it.
Can you by chance help me identify this watch?
Thank you so much
I have a ladies watch with name brand Mirado.I need info on it please.
Can you tell me who owns Invicta? This brand has grown tremendously over the last years.
I own a coach watch from the movado group nice watch very elegant. …interesting to see the difference of each division of watch groups had no idea who made the different watches
ARE ANY OF THESE GROUPS TRADE IN THE STOCK MARKET?
Who is CortezBoss Company and are there watches or timepieces good quality?
this is great article you will know more than you think you know about watches.
Who owns Croton Watches?
What about Ted Lapidus Swiss made watches? Thanks!
Great article. As someone said, there are already changes, so some details need to be updated. E.g
Binda Group, I believe, doesn’t have Ted Baker and Kenneth Cole anymore.
I have had this watch around for a long time and have little information. It is Swiss and bears the name AMPOO…any info would be appreciated. Thank you.
You omitted Breitling, which was purchased by CVC Capital Partners in 2017 for $875 M.
What about Svend Andersen?
Please could you tell me who makes Carreras watches I have tried to get my item up but with joy its model 9EH191C03-MESH thank you, the problem I have is the large second hand does not go round just on the chrono is this normal sorry to trouble you but I am checking after having a stroke
What group owns Rolex, Ball watches and Omega? All 3 of which I own one oNE each.
Thomas, Omega is part of Swatch Group, Rolex is a privately held company (Rolex SA and Montres Tudor SA), so is Ball Watch Company SA in La Chaux-de-Fonds, Switzerland (design, production and assembly) – the company was registered by an investment group as a privately held company in 2005, but there is also Ball Watch USA (St. Petersburg, FL) overseeing advertising, promotion and distribution in North America, and there is Ball Watch (Asia) Company Limited in Hong Kong (founded in 2000) and Ball Watch（Shanghai）Co., Ltd according to the brand’s web site.
ROLEX is an Foundation, a private Trust Company.
n 1919 Wilsdorf left England due to wartime taxes levied on luxury imports as well as to export duties on the silver and gold used for the watch cases driving costs too high and moved the company to Geneva, Switzerland, where it was established as the Rolex Watch Company. Its name was later changed to Montres Rolex, SA and finally Rolex, SA. Upon the death of his wife in 1944, Wilsdorf established the Hans Wilsdorf Foundation, a private trust, in which he left all of his Rolex shares, making sure that some of the company’s income would go to charity. Wilsdorf died in 1960; since then, the trust has owned and run the company.
Prestige and Luxury Range
Ck Calvin Klein
MOVEMENT AND COMPONENT sales :
Swatch subsidiary ETA SA, which is based in Grenchen, Switzerland, furnishes many OEM brands, such as LVMH, which markets TAG Heuer, Hublot and Zenith watch lines, and Richemont, which markets amongst others, Baume & Mercier, IWC, Jaeger-LeCoultre, Officine Panerai, Piaget SA and Vacheron Constantin.[
Excellent report , what about- Marvin, Delbana, Waltham , Elgin ,Ball are they still independent ?
Geert, in some cases it is rather difficult to make a distinction between who owns the brand and who owns the company producing them (or the distribution). For example the Elgin brand (which seems to be owned by Elgin Services Company, Inc., 2001 Butterfield Road, Downers Grove (IL 60515), USA (according to the Swiss Brand Registry) you mentioned: Elgin’s US manufacturing was discontinued in 1968, and the rights to the name “Elgin” were sold and subsequently resold multiple times over the years. It seems that Elgin watches are currently being sold by MZB, a privately held, family owned business with offices in New York City, Bentonville, Toronto and Hong Kong. Regarding Ball Watch (the brand btw seems to belong to Teddy Bear Group Limited, P.O. Box 957, Offshore Incorporation Center. Road Town, Tortola), see my other comment.
The Marvin brand is owned by Compagnie des Montres Marvin SA, (Marvin Watch Co Ltd), c/o Fiduciaire Chavaz SA, rue Jacques-Grosselin 8, 1227 Carouge, Delbana by Delma Watch Ltd., Solothurnstrasse 47, 2543 Lengnau / Switzerland, Waltham by the Waltham Watch Company S.A., Via Penate 16, 6850 Mendrisio / Switzerland
Rolex SA owns Rolex and Tudor. Patek Phillipe independent. Raymond Weil independent.
Not too sure about Chopard or AP etc
I am in ABSOLUTELY shock with MICHAEL KORS AND ITS CREATORS.THE DO NOT HAVE A WAY TO KNOW OR FIX THEY OWN WATCH BECAUSE IS A 2007 WATCH.PLEASE IF THE CREATORS DON’T KNOW WHO WILL?
Oris is independent.
And no mention of West End Watch and Casio?
Where Casio on the watch ladder ?
Is Rolex independent, and what other brand names are owned by Rolez
Send all info
Does any of the large group owns NOMOS?
I would consider Candino along with Festina as the key brands of Festina Group. Perrelet is quite a niche brand, actually Candino has much more own real history and has way bigger presence.
This makes fascinating reading, but was wondering where Rolex fitted in the picture?
Who owns Ademars Piquet?
Thanks for the comprehensive list! I had no idea some of these watch brands were grouped together as they are. The biggest surprise to me was that Corum now has a Hong Kong parent.
You left out Patek and Rolex (likely for good reasons).
I think it would be nice to see them in this list as well, albeit privately owned. Merely because they are a big part of this watch community
Yes, my 5 Rolex(es), 1 of them given to me by the late President Johnson himself for my birthday, are -as a world marque- to be written in between the already mentioned brands. No watch workd without the huge Rolex fan community, in here too.
Rolex is the leading watch brand in Switzerland, and it probably should be listed here as a group unto itself, including its Tudor brand. Rolex is a privately held company. Like Patek Philippe it is also independent.
You forgot the most advertised brand on cable-TV, “Smarter by the Second” Invicta.
Maybe an interview with Eyal Lalo would be interesting. You could ask where he keeps his watch factory hidden and the size of his yacht.
I read this article a few years ago in WatchTime India Magazine, of course at that time Ulysse Nardin was an independent company and Corum was still a Swiss-owned company. That means this is an updated version of that same article.
Thanks a lot!
Thank you for a comprehensive and obviously well researched article Jay. It’s always astonished me how many watch manufacturers there are and it seems that every week I see a watch with a new brand name.
It must be a nightmare for employees remembering which brands some of these companies own because there are so many.