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Timex Group To Bow Out Of High-End Watch Making?

Back when high-end watch making was the game to be played in the luxury world, everyone was getting some action in the frenzy of the "there is totally a few people out there that will buy that" game. Even the Timex Group, king of the drugstore timepiece. While Timex does have some nice brands, they surprised many when acquiring a small, high-end indie brand called Vincent Berard back in 2006. Basically Timex wanted some of that haute horology action, but the party is now likely over. While Vincent Berard did enjoy some success for a bit, right now its sales are disappointingly low - and profits are non existent. Which could mean they haven't sold anything in a while. The brand concept was interesting - fluid form watches with interesting complications like the dial mounted balance wheel seen above. Timex doesn't want to keep funding the brand as American company's aren't exactly fans of black holes for cash. Too bad for Vincent Berard, and it now looks like Timex Group's highest end watch brands are licensed fashion labels such a Versace and Ferragamo timepieces.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com

Tags: closure, Timex, vincent berard

Movado To Shut Down Retail Watch Boutiques

by Ariel Adams (RSS feed) —

Filed under: Timepieces / Watches

American owned watch maker group Movado, will permanently shut down all of its Movado brand watch store boutiques in the US. There are under 20 Movado boutiques in the US - each located in mostly high population areas or large cities. Movado watches will still be sold by independent third party retailers. The Movado boutiques, which sold watches as well as Movado jewelry were apparently not seeing sales nearly on par with corporate expectations. Having personally entered a few, I can't help but blame unqualified, under-trained employees for at least some of the problems.

While Movado hasn't done spectacularly over the last few years, they haven't seemed to do worse that other competitor watch brands that have equally been hit by the 'tragically bad for luxury items' recession. Movado group seems to site a lack of overall profitability recently, and sees the closure of its boutique store division as a serious help in moving back towards profitability. Not all is lost though, Movado will retain one boutique store as its flagship retail location, the Movado boutique in Rockefeller Center in New York City. Most of the Movado outlet stores will remain in operation. In addition to Movado, the group also makes and markets ESQ and Ebel watch brands. Most famous for making the Museum Face Watch one of the most iconic timepieces around, the last few years have arguably seen some of Movado's strongest product offerings in years. Movado will place most of its efforts on its wholesale business, so consumers looking for Movado watches will simply go to one of their many authorized dealers.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Tags: boutiques, closes, closure, Movado, shuts down, store closings, stores

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Timex Group To Bow Out Of High-End Watch Making?

Movado To Shut Down Retail Watch Boutiques

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