Breitling has purchased Universal Genève, a once-coveted watch line that has been mostly dormant for decades.
A filing from the Hong Kong-based Stelux Group, Universal Genève’s current owner, said that Breitling is paying 60 million Swiss francs, or approximately $69 million, for the brand.
Breitling and Universal Genève will be run separately, though a “dedicated team” will be brought on to oversee the acquisition, according to a statement from Breitling.
Founded in 1894—the same year as Breitling—Universal Genève rose to prominence in the early 20th century. In 1927 it debuted the Cabriolet, one of the first reversible watches. By 1935 its headquarters was located on rue du Rhône in Geneva, in between Rolex’s and Patek Philippe’s, “consolidating the brand as one of the top watch manufacturers,” according to a brand history. In the 1940s the Henri Stern Watch Agency, which distributed Patek Philippe, became Universal Genève’s importer in the United States.
In 1954, Universal Genève introduced the Polerouter, a travel-oriented timepiece that was said to withstand any climate; it was an early work by storied designer Gerald Genta, then just 23.
During the quartz crisis, Universal Genève was sold in 1989 to Stelux. Following sporadic attempts to revive it, the brand “went into hibernation” for years, the online history said.
According to Stelux’s filing, Universal Genève’s revenue for the year ended March 30, 2023, was 23,000 Swiss francs (approximately $26,292), while revenue for the eight months ended Nov. 23 was 16,000 francs ($18.275). The brand posted a $3.2 million loss during the latter period.
Over the years, watch lovers have hoped for a Universal Genève resurgence. Guillaume Laidet, the executive who revived the Nivada Grenchen line, last year told The New York Times that he had tried—and failed—to buy the company. He described owning Universal Genève as “the dream…the unicorn.”
Breitling seems to feel the same. “Universal Genève…is a brand that watch enthusiasts have dreamed of seeing make a permanent comeback,” said Alfred Gantner, chairman of the Breitling board and cofounder of Partners Group (which acquired a majority stake in Breitling last year), in a statement.
But in the same statement, CEO Georges Kern warned that bringing back such a storied name would take time.
“Rebuilding a brand with such a rich narrative is not a quick endeavor—it is a meticulous labor of love,” he said. “It’s a process we are embarking on with the utmost respect and dedication with the aim of seeing Universal Genève restored to its rightful place in watchmaking.”
Breitling has been owned by private equity since 2017. When Partners Group increased its share in the company to more than 50%, it succeeded CVC Capital Holding as owner.
Top: Universal Genève watchmakers practicing their craft in the 1960s (photo courtesy of Breitling)
Follow JCK on Instagram: @jckmagazineFollow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine
