Thursday, May 26, 2016

Citizen and Frederique Constant

Yes, it appears to be clear that Citizen has acquired Frederique Constant and all of the pieces that go with it.

I will have a further update in about 2 hours with more specifics - but for now here is the statement from Citizen's site along with a prepared statement from FC

May 26, 2016 Citizen Watch Co., Ltd.

Citizen Watch Co., Ltd. (Head Office : Tokyo, Japan) announced today that it has entered into an agreement to acquire Frederique Constant Holding SA (Head Office : Genève, Switzerland). Under the mid-term business plan, “Citizen Global Plan 2018”, Citizen is implementing a multi-brand strategy and seeking to complete its brand portfolio by acquiring Swiss brands. This particular acquisition will enable Citizen Watch Co., Ltd. to strengthen its brand portfolio, offering consumers a variety of products ranging from accessible timepieces to Accessible Luxury watches. Frederique Constant Holding SA brings the brands Frederique Constant, Alpina, and DeMonaco to Citizen Watch Co., Ltd.

The present management personnel and staff will continue to hold the same positions after this acquisition.
Comments from Mr. Toshio Tokura, chief executive officer of Citizen Watch Co., Ltd. We have a great opportunity to expand the sales of Frederique Constant through our current distribution
channels of Citizen branded watches, particularly in Japan 
and the U.S.” said Toshio Tokura. “With the acquisition of Frederique Constant, the Citizen Watch Group will be able to augment its portfolio of brands and occupy the space in the markets where some of our competitors operate and further

expand the presence of the Citizen brand in the market.” He later added “Citizen will be able to achieve great synergy for sharing technologies and infrastructures in the future.

Comments from Aletta and Peter Stas, the founders of Frederique Constant Holding SA “As we feel a tremendous commitment to the Frederique Constant Group and its people, we started to explore a
potential collaboration to secure the company beyond 
ourselves. We have become increasingly impressed by the innovative technologies of the Citizen Group. We see the opportunity of Swiss-Japanese partnership to develop and market Accessible Luxury watches for the 21st century and beyond.

History of Frederique Constant
Frederique Constant in its current form was established in 1988
. The company is involved in all stages of watch production, from initial design to final assembly and quality control. Frederique Constant develops, manufactures, and assembles in-house calibers, offering 19 different versions since 2004. Frederique Constant watches are defined by their high quality, precision in design and manufacturing, and accessible prices. Consequently, their perceived value—which stems from the quality of design, materials, and manufacture—is a key component of their success. Each watch is assembled by hand, employing the latest
equipment and extensive controls, to ensure
maximum quality and durability. The company
pursues innovation to offer creative designs at
exceptional value. The company has been
experiencing growth rate well above the industry
average by following clear mission of making fine
watches available to the largest possible audience
of watch enthusiasts at sensible prices. 

1 comment:

  1. This is a big news and I think is is a good deal will there be a miyota made in Switzerland ( the price of they 9xxx got so high now.)