Friday, January 29, 2021

The Transfer Window Opens - At Parmigiani

Watch Town is a funny place. Parmigiani has bid its current CEO, Davide Traxler, arrivederci and in a shrewd move did so while the majority of Watch Town's members of the press have been preoccupied with LVMH's dog and pony show. So before he barely had a chance to sling his hook and take it on the arches, his replacement had, in fact, already been installed. So in the same breath, congratulations to Guido Terreni, until very (VERY) recently a very senior executive in Bulgari's watch division.

News broke in pretty much every branch of the press, except... the watch press, that Mr. Traxler would be pursuing "other professional opportunities" and curious to relate? His replacement had already been vetted, approved by the board of directors and appointed.   

Watch Gods, you do move in mysterious ways...

Now it is also interesting to relate that more than one press outlet portrayed Parmigiani as "struggling". And that is a hard one to quantify as Parmigiani is an independent company owned by what is, essentially, a family trust. What remains unsaid is whether Parmigiani is:

A.  In better shape than when Traxler took on his role as CEO.

B. In worse shape than when Traxler took on his role as CEO.

C. No better, and no worse than when Traxler took on his role as CEO.

But as that other great commentator on the watch business, Darryl Dawkins once opined -

“When everything is said and done there is nothing left to do or say.” 

So we wish Davide Traxler the best of success moving forward, and wish Mr. Terreni Godspeed in his new role.

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