The Swiss watch Manufacture De Bethune sells majority stake to an investment consortium.
We have been wondering what has been happening to the exceptional independent watchmaker De Bethune, as we have been hearing that principal investor David Zanetta has withdrawn from the company. Rumours have been flying around the watchosphere about what is happening to the brand. Our Chief Editor wrote an Instagram post on his personal account musing on October 16, 2017 about the fate of De Bethune. By then, he had already heard some interesting tidbits from industry insiders but no confirmation.
Undeniable in their pursuit of horological innovation and all things interesting, the manufacture today announced to sell a majority stake to an investment consortium led by Pierre Jacques, former CEO of the brand, and private equity investor Giovanni Perin.
Within the framework of this transaction, Denis Flageollet, co-founder and COO De Bethune, retains a substantial stake in the company. David Zanetta, the brand’s other co-founder, is stepping down and ceding all his shares. He had already withdrawn from the operational side of the company last year, on his 70th birthday, after an outstanding contribution to its expansion over the last 14 years.
Since its founding, De Bethune has built a unique and strong industrial base dedicated to the watchmaking art. Today, the brand is distinguished by very high level of quality and innovation, ranking it firmly within the exclusive circle of Swiss Haute Horlogerie. They boast of no less than 25 calibres entirely in-house, around 30 world firsts, a number of patents, as well as 150 one-of-a-kind models.
It is no secret that at Deployant, we are great fans of the work by De Bethune. We have been consistently been impressed with the innovation, and creativity that the team has brought, and it would indeed be have been a shame if the firm disappeared. Now with this new injection of capital, we can only look forward to the new heights that De Bethune will achieve. Here are some of our reviews,among many others:
The new structure will see Pierre Jacques, taking up his new responsibilities on December 1st 2017.
“by leveraging our network and our expertise, we are going to work with a view to further enhancing the reputation of this amazing brand and shaping the future of one of the finest Swiss watch Manufactures. I am looking forward to supporting De Bethune in this new growth phase, in close cooperation with Denis Flageollet.”
“We are delighted to be joining forces with ideal partners to support our long-term development plans. Pierre Jacques, who already headed the company for five years between 2011 and 2015, has a wealth of experience and in-depth understanding of it. To have him now as shareholder, CEO and Chairman of the Board of Directors will be immensely beneficial for De Bethune.”
Denis Flageollet, COO De Bethune.
“I am pleased to contribute to De Bethune’s development. I am convinced that the quality of the management, together with the resources now available, ideally positions the company on the path to success.”
“Pierre being former CEO, especially during the time when the brand was doing exceptionally well, will lead it back to its former glory. It will “up and ups” for this exceptional brand and pioneer of the Independent scene”
a serious collector who owns several De Bethune pieces and a big fan of the watches.