Xantia SA, a leading manufacturer of Private Label watches and to date owned by the Victorinox Group, for whom it manufactures the watches for the Swiss Army and Victorinox Swiss Army brands, will, under the terms of a Management Buyout, hive off its activities for Private Label customers and continue to trade autonomously and independently as of 1st January 2006.

The development and manufacture of Swiss Army and Victorinox Swiss Army branded watches will be transferred to Victorinox Swiss Army Watch AG. This represents another step in the integration and control of watch production under the firm’s own Victorinox Swiss Army brand. The strategic branches of activities – product development, sales/marketing, after-sales service as well as a part of the production - remain maintained on the site of Bienne.

The agreed Management Buyout allows the new management of Xantia SA to continue its previous and future Private Label activities under the same, familiar company name of Xantia SA. Xantia SA will in future be able to reinforce its previous position in the Private Label market as an autonomous and independent company and develop its own market position. In the medium term, these activities will create new jobs in the Bienne region.

“Victorinox was founded in 1884 and obtained a leader position in the development and production of the world-famous Swiss Army Knives, states Carl Elsener, CEO Victorinox.”Today Victorinox employs worldwide over 1500 people and reaches a consolidated turnover of 400 million Swiss francs. The 1989 launched Swiss Army watches are based on the values and the heritage of the Swiss Army Knife and bear also the well-known Victorinox Emblem (Cross & Shield).
The management of Victorinox AG would like to express special thanks to Mr Michel Thiévent, CEO of Xantia S.A. for his substantial contribution over more than 25 years and wishes much success to Mr Jean-Pierre Loetscher, Managing Director of Xantia Private Label Watches SA, and to his team."

“Xantia SA was founded in 1962 and, thanks to its many years of experience in the development and manufacture of Private Label watches, occupies a leading position in this market segment”, states Jean-Pierre Loetscher, new CEO and majority shareholder of Xantia SA as of 1 January 2006. He goes on: “The agreed Management Buyout enables us to take on a customer portfolio that has been in existence for a long time; alongside buyers of traditional Private Label watches, this includes customers from new and strongly growing sub-markets who, for example, offer watches that integrate certain complementary benefits or special functions for sectors such as medical technology, telecommunication technology or surveillance technology. We are therefore confident of successfully shaping the future of Xantia SA as an autonomous and independent company”.


Source: Victorinox

www.victorinoxwatches.com

Contact: [email protected], [email protected]
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