The Swiss luxury watch provider Breitling, who has been part of the Partners Group- a Swiss investment and capital management company- and CVC Capital Partners since December 2022, has announced the takeover of the Gallet brand. The brand, known for their robust chronographs and their rich watchmaker, is thus breathed into new life.
Gallet was first founded in 1826 by the watchmaker Julien Gallet in La Chaux-de-Fonds (Switzerland) as a watch dealer. The brand designs time measurement instruments for racing, aviation and expeditions offside. “Since the beginning of the 19th century, Gallet has been equipping those who dare to cross borders: Discoverers who cross the unknown map, pilots in search of new horizons and travelers who cross the continents,” says the website.
With prices between 3,000 and 5,000 euros, Gallet will position itself at Breitling in the entry segment. This strategy aims to lure a broader clientele to Breitling boutiques.
Iconic models such as Multichron Clamshell and Flying Officer are reissued. Production will be based on Breitling’s infrastructure, and sales will take place in around 200 of the 300 Breitling boutiques worldwide.
With the takeover of Gallet, Breitling wants to strengthen its market position in the luxury watch segment
This acquisition enables the company Breitling, which had already taken over the Swiss watchmanfaktur Universal Genève in 2023 to position itself as a strong player in the multimarking clock segment and to orientate itself to the strategies of the large watch company.
“This takeover is a logical step in the development of our company,” said Georges Kern, the CEO of Breitling, in the press release. “We breathe new life into new life by relying on Breitling’s expertise and know-how. Our goal is clear: to revive gillet as a leading watch brand and at the same time to preserve their adventure spirit and their innovative strength in the field of chronographs.”
“We have full confidence in Breitling. The company is in a good position to increase its market share in the luxury watch segment,” emphasized Alfred Gantner, co -founder of the Partners Group and President of Breitling. “The takeover of Gallet is the second important step to strengthen our long -term strategy.”
This article was used with digital tools translated.
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