All I can say is DISAPPOINTING
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| Brietling being sold rumors true!?! https://breitlingsource.com/phpBB2/viewtopic.php?f=1&t=62750 |
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| Author: | challenger_fr [ Fri Apr 28, 2017 3:27 am ] |
| Post subject: | Breitling sold to CVC Capital Partners (80%) |
Hello, Breitling is sold by 80% today, Friday 28th April 2017 What will happen to us as customers and to the brand, watches & products ? "Date: Friday 28 April 2017 Title: CVC Capital Partners Fund VI agrees to acquire majority stake in Breitling SA CVC Capital Partners Fund VI agrees to acquire majority stake in Breitling SA CVC Capital Partners ("CVC") today announced that CVC Fund VI has agreed to acquire an 80% stake in Breitling SA ("Breitling"), a leading independent, family-owned manufacturer of Swiss luxury watches and an internationally renowned premium brand. The financial terms of the transaction were not disclosed. As part of the transaction, Théodore Schneider will re-invest for a 20% shareholding in Breitling. Founded in 1884, Breitling specialises in the development and manufacture of high-performance watches. The company looks back on a heritage of seminal innovations that have played a decisive role in the development of wrist chronographs. Breitling employs approximately 900 people and is headquartered in Grenchen, Switzerland. The company operates two manufacturing facilities, one in Grenchen and one in La Chaux-de-Fonds. Breitling watches are sold worldwide in exclusive boutiques and via selected retailers. "I am convinced CVC is the right partner to elevate Breitling to the next level," said Théodore Schneider, majority owner of Breitling SA. "CVC's expertise, track-record and international network will help unlock Breitling’s full potential." Alexander Dibelius, Managing Partner and Head of Germany at CVC, commented: "Breitling has a proud heritage, high brand awareness, and enjoys an excellent reputation as one of the finest watchmakers in the world. We very much look forward to working with Théodore Schneider as we embark on Breitling's next chapter of growth." "Using our network and expertise, CVC will work to make this global, iconic brand even more renowned and help shape the future of one of Switzerland's last independent watch manufacturers," added Daniel Pindur, Senior Managing Director at CVC. "Specifically, we see significant growth potential for Breitling in both existing and new geographies by driving the digitization of the marketing and distribution channels in the company, helping to enrich the product and customer experience." Closing of the transaction is subject to approval by the relevant competition authorities and is expected for June 2017. " http://www.cvc.com/Media-Centre.htmx?ta ... 1710044201 |
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| Author: | 56scooter [ Fri Apr 28, 2017 3:29 am ] |
| Post subject: | Brietling being sold rumors true!?! |
The rumors concerning Breitling being put up for sale were true! Wonder what changes, if any, this means for the brand? https://www.bloomberg.com/news/articles ... old-to-cvc |
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| Author: | Hunterfate [ Fri Apr 28, 2017 4:02 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
Also here: http://www.cvc.com/Media-Centre.htmx?me ... byear=2017 |
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| Author: | Roffensian [ Fri Apr 28, 2017 4:10 am ] |
| Post subject: | Re: Breitling sold to CVC Capital Partners (80%) |
Well I'll be the first to say this is likely to be a disaster for those who admire Breitling for their horological capabilities and a triumph for those who prefer the style and look. Selling to what is essentially a large scale VC firm to sit alongside a portfolio of manufacturers of fencing, pharmaceuticals and plumbing supplies as well as providing online gambling and running a chain of convenience stores. How the mighty have fallen. |
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| Author: | Kodiak [ Fri Apr 28, 2017 4:17 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
All I can say is DISAPPOINTING .
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| Author: | Huttfuzz [ Fri Apr 28, 2017 4:20 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
Oh god. |
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| Author: | WatchFred [ Fri Apr 28, 2017 5:14 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
CVC succeeded in almost killing Formula 1, now on to Breitling ...... |
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| Author: | TomP [ Fri Apr 28, 2017 5:57 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
WatchFred wrote: CVC succeeded in almost killing Formula 1, now on to Breitling ...... Indeed. It's CVC's record with F1 that makes this such utterly dispiriting news. |
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| Author: | Tunnel Ling [ Fri Apr 28, 2017 6:02 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
In some ways it's analogous to the transition Ferrari has made a few times sine Enzo passed. It is not necessarily death but some soul can be lost and some things can improve. It will really show not just how strong the brand is but how strong the inner culture of the company is. Who knows it could also be a big step forward, are there things they wanted to develop that were stalled? |
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| Author: | natesen [ Fri Apr 28, 2017 7:58 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
I would have much rather preferred that they be bought by another brand already in the watch Market. I think it's getting harder and harder to operate as independent in the current watch environment and having access to economies of scale by being a sister company to another watch manufacturer would have been best. Venture capital can be a good or bad thing depending on the company but I don't know anything specific about CVC and without doing some research on them I have no opinion on that particular VC firm. Sent from my VS987 using Tapatalk |
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| Author: | AirbusA330 [ Fri Apr 28, 2017 9:57 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
True. A buyout by another watch brand would have been perfect but then CVC's deep pockets will keep breitling aloft and going for many many more years to come. In my opinion, surviving is 1st priority, followed by continued R&D/designs/sales well into the next decade  Like Apple, they may want to reach out to China in a more personalized way for a hefty market share which all equates to money in the end  Hopefully, the brand's image will continue to live & their designs will continue to impress. As Roff said, if horological improvements don't keep coming, then pEaCe |
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| Author: | zak57 [ Fri Apr 28, 2017 10:49 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
Aint gonna panic just yet, CVC would be insane to devalue such a strong brand through either poor design or horological skimping. Rolls Royce are owned by BMW and Bentley by VW but the brands have gone from strength to strength. Ok, they are car manufacturers and CVC aren't watch makers but maybe they will have the vision to strengthen the brand by providing some R&D funding and by unleashing some of the latent talent that obviously exists within the brand. |
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| Author: | Driver8 [ Fri Apr 28, 2017 2:46 pm ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
Hmmmmm, I think this is a bit of a "wait and see" as far as I'm concerned. Considering what Omega have been doing the last few years I'd have much rather Breitling went to Swatch, or even Richemont or LVMH, rather than a company like CVC with fingers in so many different pies. Then again it could go either way - CVC may end up dumbing the brand down and Breitling may end up a some kind of "premium" Invicta...... or they may just pump a ton of cash in and let Breitling crack on fairly unhindered. Maybe...... |
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| Author: | themystro [ Sat Apr 29, 2017 8:49 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
No need to panic. CVC will not destroy a halo brand like Breitling. They know what they are buying and the direction the company can navigate. There is a good chance the Breitling owner and new buyer wont see any difference. There is also a very good chance Breitling may be pushed even further upmarket in the industry. Anything at this point is wild speculation. This will give the troll fanboys of other brands to take pop shots at Breitling to create doom and gloom to torture Breitling owners. I have been around the watch collecting world long enough to know how it will play out on the forums.
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| Author: | avantgardetime [ Sat Apr 29, 2017 10:07 am ] |
| Post subject: | Re: Brietling being sold rumors true!?! |
Driver8 wrote: Hmmmmm, I think this is a bit of a "wait and see" as far as I'm concerned. Considering what Omega have been doing the last few years I'd have much rather Breitling went to Swatch, or even Richemont or LVMH, rather than a company like CVC with fingers in so many different pies. Then again it could go either way - CVC may end up dumbing the brand down and Breitling may end up a some kind of "premium" Invicta...... or they may just pump a ton of cash in and let Breitling crack on fairly unhindered. Maybe...... The service experience afforded by Swatch or LVMH is fairly deficient in comparison to what we currently get with Breitling. Reality is, the watch industry is a dying industry. Younger generations do not see the need or benefit in spending thousands in man jewelry. It is just what it is. I am glad that at least Breitling will Continue to thrive under a non watch connected enterprise. Either that or shut down the shop for ever. Those are pretty much the choices in this climate. Many can speculate all they want but it is difficult to see what the future will bring to Breitling under the CVC ownership. A wait and see attitude is the best approach imho... |
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