Breaking news: Porsche Design Group ends license agreement with Eterna AG Uhrenfabrik
Strategic realignment of Porsche Design Timepieces
The Porsche Design Group (Porsche Lizenz- und Handelsgesellschaft mbH & Co. KG) and Eterna AG Uhrenfabrik, based in Grenchen, Switzerland, are ending their license agreement for the development, production and sale of high-quality watches. To continue offering Porsche Design Timepieces–a tradition that has spanned over 40 years–the luxury brand is expected to reposition itself in the luxury watch category by the middle of this year.
“We truly valued our partnership with watch manufacturer Eterna. The combination of traditional craftsmanship with our design expertise worked perfectly with great success”, says Juergen Gessler, CEO of the Porsche Design Group. “We plan to continue this tradition as part of our realignment strategy, as well as presenting new, exclusive watches to our customers.”
Samir Merdanovic, Vice President of Eterna AG Uhrenfabrik says: “Following our successful partnership with Porsche Design, we will continue to devote our attention to developing and manufacturing high-quality, innovative timepieces under the Eterna brand. In the future, we will also focus in particular on doing justice to our reputation as a brand that combines innovation and heritage – we plan to continue the further development of the revolutionary Eterna movement with the Spherodrive System, for instance.”
All services associated with the relevant Porsche Design watches will still be guaranteed by Eterna. In addition, the two companies are set to collaborate in various technical fields.