Citizen Watch Co., says it is acquiring Frederique Constant Holding SA, bringing a Swiss brand under its banner.
The watchmaker says the acquisition is part of a mid-term business plan entitled, “Citizen Global Plan 2018.” Part of its goal is to complete its brand portfolio by acquiring Swiss brands.
“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 United States,” said Citizen Watch Co., CEO Toshio Tokura.
“With the acquisition of Frederique Constant, the Citizen Watch Group will be able to augment its portfolio of brands, occupy the space in the markets where some of our competitors operate, and further expand the presence of the Citizen brand in the market. Citizen will be able to achieve great synergy for sharing technologies and infrastructures in the future.”
Frederique Constant Holding SA includes the brands Frederique Constant, Alpina, and DeMonaco.
According to a press release, Frederique Constant’s present management personnel and staff will continue to hold the same positions after this acquisition.
“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,” said Aletta and Peter Stas, founders of Frederique Constant Holding SA.
“We have become increasingly impressed by the innovative technologies of the Citizen Group. We see the opportunity of a Swiss-Japanese partnership to develop and market accessible luxury watches for the 21st century and beyond.”
