Binda Group acquires Geneva Watch Group

Watches

Save

E-mail

Binda Group acquires Geneva Watch Group

September 05, 2008

Similar Stories | Topics

STORIES

Tiffany's 3Q sales drop

Hear from America's Best Jewelers in January

As U.S. business slips, India's eyes wander

Wal-Mart 3Q net sales up 7.5 percent

Signet 3Q sales down 6.6 percent

Milan, Italy—The Binda Group, the Italian owner and distributor of such watch brands as Breil Milano and Wyler Geneve, has expanded its portfolio through the acquisition of U.S. watch and clock manufacturer Geneva Watch Group.

Through the acquisition, the Binda Group aims to reach total annualized sales revenues in excess of $665 million in 2008, the company said in a media release.

Among the brands the Binda Group will add to its portfolio are Kenneth Cole, currently one of the top fashion watch brands in the United States in terms of market share, and Freestyle, a sports watch brand that is popular among West Coast surfers.

An expanded portfolio of U.S. brands means the Binda Group will significantly strengthen its presence in the North American market. The group forecasts annual sales revenues in the United States in excess of $200 million for the current calendar year.

In addition to the U.S. operations of Geneva Watch, the Binda Group will also incorporate production units in the Far East, with around 1,200 employees and 300 quality-control specialists.

Geneva Watch will be helmed by newly appointed Chief Executive Officer Jeff Gregg, previously chief operating officer and chief financial officer of Geneva Watch. Gregg will report to Gianni Pieraccioni, Binda Group managing director.

Save

E-mail

More Watches

Study: More young adults going without watches

Paso Robles, Calif.--A new study from MVI Marketing Ltd.'s Jewelry Consumer Opinion Council (JCOC) finds that while many young adults in the 18-24 age group do own a watch, many are instead using cell phones, iPods and other digital devices to tell time. Read More

Watch Dealers Network launches price-list resource

Longines names Stefanie Graf new ambassador

More Watches

More Like This

Tiffany's 3Q sales drop

November 26, 2008 | National Jeweler Network

Hear from America's Best Jewelers in January

November 25, 2008 | National Jeweler Network

As U.S. business slips, India's eyes wander

November 17, 2008 | National Jeweler Network

Wal-Mart 3Q net sales up 7.5 percent

November 13, 2008 | National Jeweler Network

Signet 3Q sales down 6.6 percent

November 10, 2008 | National Jeweler Network

Design Portfolio

BROWSE

Video

Retailer Toolbar

LoupeIt!
A search engine designed specifically for the jewelry industry where every return is relevant to the retail jeweler.

Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.

ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.

Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.

Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.

CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.