Why did Breitling acquire Universal Genève? For its first big deal ever, the Swiss watchmaker dropped US$69 million to buy the brand, formerly owned by Hong Kong-based Stelux Group

Dec 17 , 2023

Breitling partners with American Airlines to unveil the All-New Breitling Navitimer American Airlines Limited Edition Watch at Bachendorf’s Galleria Dallas in September 2021, in Dallas, Texas. Photo: Getty Images for Breitling)

Breitling is known for the Navitimer timepiece and jumped into the top 10 Swiss watch companies by sales in 2022 (though Rolex still leads the pack) – now it’s making its first major acquisition

Universal Genève is Breitling’s second brand, while competitors Swatch AG and Richemont own about 10 marquees each – and CEO Georges Kern plans to bring back popular models from the 60s and 70s

Swiss luxury watchmaker Breitling AG is making its first major acquisition, buying Universal Genève in an attempt to revive a brand that has faded since its heyday decades ago.

Breitling Chronomat Automatic GMT 40. Photo: Breitling

The deal marks a turning point for Breitling, which jumped into the top 10 Swiss watch companies by sales in 2022 and is known for aviation-themed chronographs such as the Navitimer, as it becomes a watchmaking group. The company, controlled by Swiss private equity firm Partners Group Holding AG, has been revived under chief executive officer Georges Kern.

Kern, in an interview, said Breitling will hire a team of designers and executives to run Universal Genève as a separate entity. There are plans to bring back famous models such as the Gerald Genta-designed Polerouter as well as the Compax sports watch, which was popular in the 1960s and 70s.

Breitling CEO Georges Kern, in 2022. Photo: Breitling

“This is the best dormant or semidormant watch brand on the planet,” Kern said of Universal Genève, which was founded in 1894.

The first watches could come to market by 2026 and will be priced well above Breitling’s average price of about 6,700 Swiss francs (US$7,640).

“It will be much more expensive,” said Kern.

Once one of the most famous and popular Swiss brands, Universal Genève, like many mechanical watchmakers, ran into financial difficulties during the quartz crisis in the 1980s. It has been owned by Hong Kong-based and listed Stelux Holdings International since 1989.