– SWITZERLAND, Basel – Breitling, the leading Swiss watchmaker, today announced the appointment of Alfred Gantner as Chairman of its Board of Directors, while CEO Georges Kern will remain in charge alongside his existing management team.
Alfred Gantner is the Co-Founder of Partners Group, a leading global private markets firm that has increased its equity stake in the company in a transaction that will make it the largest shareholder alongside the current majority shareholder, CVC, which will remain invested.
Georges Kern, CEO of Breitling, said: “I am very happy that Breitling remains privately owned and independent. Breitling is well-positioned and has a proven strategy in place to capitalize on continued tailwinds in the luxury watch industry. We have a unique brand proposition with a long history in Swiss watchmaking, which is appealing to today’s modern luxury consumer. We are a preferred partner to retailers worldwide and are looking for continuity and stability in these established partnerships. Looking ahead, we are building our presence in key growth markets, and broadening Breitling’s collection to appeal to a diverse customer base. Partners Group and CVC’s support will continue to be extremely valuable as we continue on this journey.”
Alfred Gantner, Co-Founder and Executive Member of the Board of Directors, Partners Group, will become Chairman of the Breitling board, said: “After a fundamental transformation in the past five years, Breitling is building on its outstanding achievements and is now in a position to scale the business and become one of the world leaders in the watch industry. We are delighted to increase our stake in the Company. Breitling has a strong foundation for continued growth, with significant value-creation potential. In line with our entrepreneurial governance approach, we look forward to continuing our successful partnership with the management team and CVC.”
Daniel Pindur, the Managing Partner at CVC and current Chairman of Breitling’s board, said: “We are proud of the fantastic development Breitling has made since we invested in 2017. Working closely with Georges and his team, we have transformed the business into one of the world’s most dynamic and progressive luxury watch brands. We are convinced there is still plenty more to come, and we are delighted to continue driving the future growth of this iconic business alongside Partners Group.”
About Breitling
Founded in 1884, Breitling is a leading Swiss watchmaker, with a unique heritage in the industry as the inventor of the modern wrist chronograph and distinctive positioning as a casual, inclusive, and sustainable luxury brand. Breitling’s product offering is centered around its three core themes: air, land, and sea. Its collections offer a distinctive modern-retro design style, which appeals to an increasingly broad consumer base globally. Since 2017, Breitling has emerged as a leading omnichannel luxury watch brand offering an unparalleled customer experience across both physical and digital channels.
The Company is poised for future growth supported by its differentiated brand positioning, broad product offering, and robust supply chain. Partners Group and CVC will continue working with Breitling’s management team, under the leadership of CEO Georges Kern, to grow the business. Key value creation initiatives will include further pursuing an omnichannel strategy; continuing its geographic expansion; and launching new products harnessing the value of Breitling’s extensive back catalog.
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