Breitling has acquired storied Swiss watchmaker Universal Genève.

Georges Kern-led Breitling — which has continued to climb the Swiss watch brand sales charts the past six years (according to Morgan Stanley estimates) — has acquired the rights to Universal Genève (founded in 1894). In case you’re wondering, Breitling was founded in 1884 and is majority-owned by Partners Group, as of 2021.

Since 1989, the Hong Kong-based Stelux Group has maintained the Universal Genève name, intellectual property, and other existing brand assets. The Stelux Group focuses primarily on watch retail and distribution — not watchmaking — and did attempt to relaunch the brand over the years but it never came to fruition.

Fast forward to 2023, Breitling and Partners Group are rumored to be paying upwards of $70 million, which is huge when you consider the brand is dormant and has no sales revenue. However, being a cherished watch collector’s brand certainly helped to get the deal approved by the private-equity Partners Group and the Breitling board.

“As excited as we are, we are also fully aware of the task at hand and the profound heritage we are set to uphold,” stated Georges Kern, CEO of Breitling. “Universal Genève was once hailed as the couturier of watchmaking, renowned for its in-house movements and mythical models. It is a brand that watch enthusiasts have dreamed of seeing make a permanent comeback,” said Alfred Gantner, Co-Founder of Partners Group and Chairman of the Breitling board. “Rebuilding a brand with such a rich narrative is not a quick endeavor—it is a meticulous labor of love that we anticipate will unfold over the coming years. A dedicated team will be brought on board to allow Breitling and Universal Genève to operate as separate maisons,” explained Georges Kern.

Using Breitling’s well-established manufacturing, distribution, marketing, and financial resources — should allow the new team to revive Universal Genève to its former glory. However, pricing and execution must be flawless, even if the company has historical provenance and an established watch brand like Breitling backing it.

If done right, this could be the perfect one-two punch that moves Breitling SA to the next level, ahead of a rumored IPO 3-5 years from now.