Montres Corum announces the acquisition of its shareholding by China Haidian Holdings Limited. As a result of this agreement, China Haidian becomes the sole owner of the watch company, based in La Chaux-de-Fonds.
Montres Corum and China Haidian announce a strategic agreement
This strategic agreement fulfills the long term vision of both partners for the continued development and growth of the Corum brand.
It will allow China Haidian to anchor its position in the Swiss Haute Horlogerie by reinforcing its other activities and open for Corum new prospects for development and strengthen the positioning of its brand worldwide.
Mr. Hon Kwok Lung, Chairman of the Executive Committee of China Haidian, said: "I am very pleased with this acquisition and I firmly believe in the potential development of Corum. The brand has done a remarkable job under the leadership of Mr. Calce and was able to reposition itself as one of the major players in Haute Horlogerie. I will enjoy working with Antonio Calce, whom I trust to ensure effective management of the company. "
Antonio Calce, CEO of Corum, said: "I was very touched by the human qualities of Mr. Hon. We share the same personal and professional values. He immediately recognized the potential of a niche brand like Corum. He is a man committed to the preservation and development of the Swiss watch industry, craftsmanship and know-how we have in the Region. We have forged strong links and I am confident that together we can continue the success of Corum. I am convinced that China Haidian is the partner of choice for Corum. "
Richard E. Tomlin Jr., President and Chairman of the Severin Wunderman Group, said: "it is an extreme pleasure for me to pass the ownership of Corum to Mr. Hon who shares the same watchmaking passion, entrepreneurial spirit and independent family values as Mr Severin Wunderman. I have complete trust and confidence that Mr Hon and Mr Calce will complete Mr Wunderman's vision and dream to make Corum one of the elite luxury brands in the Swiss watchmaking industry. On behalf of Mr. Wunderman, I would like to thank all of the Corum employees worldwide as well as all of our suppliers and global distributors for their contribution and support to Corum and the Wunderman family over the past 12 years."
About Corum
Recognized both for its aesthetics and its technical excellence, Corum is proud to contribute to perpetuating the values and know-how of traditional high-end watchmaking, and project them into the future by creating the watchmaking of tomorrow today. Founded in 1955 in La Chaux-de-Fonds (Switzerland), Corum has made creativity, consistency and long-term vision as its guiding mission. Following in the lines of the founders, Corum is more than ever faithful to the iconic collections that created the reputation and brand awareness, but giving them a powerful modern twist its hallmark innovation and technical progress.
About China Haidian
China Haidian Holdings Limited ("China Haidian") (Stock code: 256) is a publicly listed company in Hong Kong Stock Exchange since 1991 which is controlled by Mr. Hon and his family.
The group's primary activity is the manufacture of proprietary watch brands and the distribution of both proprietary and selected Swiss luxury watch brands in China and throughout Asia.
The Group owns "EBOHR" and "ROSSINI" watches brands, both of which are in the top 4 domestic watch brands in China.
The Group also owns the Swiss brand Eterna which has a license to manufacture and distribute globally "Porsche Design" watches
