Ikepod Watch Company joins the Perficio Group

October 2003

Ikepod Watch Company joins the Perficio Group

Lac Investment SA, the Swiss holding company, has the pleasure of announcing that it has acquired a majority share in the company Ikepod Watch Company AG. The actual management of the watch brand will be the responsibility of the Perficio group.

Ikepod, a young, innovative brand which nevertheless remains sensitive and faithful to the Swiss watchmaking tradition, was founded in 1994 in the Swiss Jura region. Despite having made remarkable progress, both in terms of its markets and the development of its product range, it has recently experienced significant financial difficulties. These resulted in the company filing an application for stay of bankruptcy and the departure of one of the founders, Mr. Oliver Ike, who is no longer on the Board of Directors.

The Perficio Group's short-term goal is to assist the company in this process and to draw up an effective recovery plan, which will help to put the brand back on the road to success. A rehabilitation programme and a new management policy should ensure the stabilisation and subsequent development of the watch company.

The brand will continue to be positioned in the top range. Perficio will at first concentrate essentially on internal management and the revitalisation of the Japanese market, where Ikepod enjoys an excellent reputation. The opening of the biggest Ikepod shop in Tokyo on 19 September 2003 was the first sign of this policy of boosting the markets.

At the same time, Perficio is investigating the effective distribution of Ikepod products in Mexico, the United States, Canada and the West Indies.

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Source: Perficio SA press release
October 2003