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Hammerfjord Moderator 
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My watch-maker told me today and I looked for infos: This is from Watchtime dated from the 30th june. Porsche Sells Eterna to International Volant Limited of China Today, International Volant Limited, a wholly-owned subsidiary of China Haidian, announced that it has acquired all shares in Eterna AG Uhrenfabrik from F.A. Porsche Beteiligungen GmbH. Eterna was founded (under a different name) in 1856, In 1932, Eterna created a subsidiary called ETA to make movements for itself and other watch companies. ETA grew through a series of mergers, and today it is owned by Swatch Group. Eterna was sold several times beginning in 1982, and in 1995 it was purchased by F.A. Porsche Beteiligungen GmbH. In 1998 Eterna began manufacturing watches under the Porsche Design name. Oliver Porsche, managing director of F.A. Porsche Beteiligungen GmbH, says that he is very confident that the new owner will continue the determined path Eterna AG has begun to follow and will further strengthen Eterna AG’s position as one of the premium manufacturers of watches. Mr. Hon Kwok Lung, chairman of the buyer, said that this acquisition is an important step in the strategy of China Haidian to continue its sustainable development in mainland China and overseas. “We believe that mechanical watch movements will more and more become a limiting factor in the industry; therefore, Eterna AG, as being able to manufacture its own mechanical movements, is a decisive addition to the group’s portfolio”, Hon Kwok Lung added. Details of the transaction were not disclosed. |
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joecb 3T WIS 
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WOW can anyone say..germanese!! or Chiman watches.. |
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bigrustypig 3T WIS 
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Hmmmmmmmmmmreally.gif |
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stew77 Admin 
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Oh man....that really kinda stinks... Eterna has been one of the brands that I respect and enjoy the history of...looks like it's historical road is taking quite a detour... As Jeff said...hmmm...really.gif |
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Tony Duronio 3T WIS 
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Do you guys read this as the watches will be made in China? Just might be that a Chinese company is just buying the name and perhaps manufacturing facilities it has, and not much will change. Watches will still be produced in Switzerland under the same supervision and care. I dont know just a thought. |
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oagaspar Site Founder 
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Tony Duronio wrote: Do you guys read this as the watches will be made in China? Just might be that a Chinese company is just buying the name and perhaps manufacturing facilities it has, and not much will change.You may be right Tony...Eterna could remain a viable Swiss brand,doing business as usual,but their in-house movements/factory and knowledge is probably what Haidan/Volant was more interested in...the ability to build mechanical movements will only strengthen their already 43% of the watch market in China..while on the other hand, the increased capitol available to Eterna, by the new owners, may make them stronger in the Swiss market...hopefully a happy medium will be accomplished by making Eterna a stronger Swiss company, building fine Swiss movements,while the Chinese faction uses that knowledge, to build affordable movements, to be used throughout the industry...could be a win/win situation imo. |
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Hammerfjord Moderator
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I've been reading that as: Soon, Eterna watches will have MANY Chinese components and will still be wearing "Swiss-Made". Why not? Haidian would only make legal profit out of it! Do you think that they will give this possible profit up? They will integrate Chinese parts in the movement also: Aren't they here to grab technology and copy it? Of course they are. The crystal, dial, case blanks, gaskets, movement parts....All coming as a kit from China and getting assembled in Switzerland. You will finally JUST pay for the name ETERNA and nothing else. After that, you will see a Chinese net-site popping out with a whole Eterna-wierd-taste new line totally made in China, exactly like the Doxa Asian line... And so on.... When you open your door to the wolf, don't ask him to spare the youngest because it's your favorite... |
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bigrustypig 3T WIS
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I think it will make strategic sense for the Chinese owner to still keep the Eterna Swiss heritage untouched and just be a strategic investor (funds) in Eterna. I also suspect that like many ownership changes seen, some of the manufacturing activities will be eventually spun-off to China for economies of scale and logistical rationalization. Time will tell what the new owners have in mind and whatever else is in store for Eterna. I think we all have a good idea of what will happen. |
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oagaspar Site Founder
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like Milus Watch Co.,another Swiss brand bought by a Chinese business,Eterna will follow with boutiques in China and HK,remaining a Swiss luxury brand imo...the growth potential for both these brands is excellent. China has been rated "best in financial performance across the world to every luxury brand,from watches to wine",since China/HK is the #1 in Swiss watch sales,it would make sense that Eterna would only grow,as a Swiss Made label. |
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KenC Admin 
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I believe they may be moving it to China. My opinion is based on the research done while watching millions of heavy earth moving machines and sod trucks moving the large percentage of the USA that China owns to the Chinese owned port in Long Beach, CA for shipment! I am concerned that they may come for Arizona next but feel confident the will move all of the "flatland" parcels first, although I do see them numbering the rock formations in the mountains for reassembly!?! "just my 2 cents" |
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Hammerfjord Moderator
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Oscar: I heard yesterday the the Chinese economy was shrinking... The Chinese economy been growing very fast and way too fast to be healthy in my meaning... What's the point about that they consume more and more luxury products coming from Europe? Those brands are wanted and regarded because they are from a high European standard and nothing else: Who builded those standards? The Chineses? No. So let's not stain those brands by having them half builded there, or those European standards as the western world standards, will sink very fast in our eyes and from there be less regarded in the east. I explain in another way: They like Champagne because it's exclusive and it's exclusive because it's made only in a little region of France who has a long wine-making history. Modify the law about this label and have half of it coming from Asian vineyards: All prestige is gone and only the modest man will buy it. They will then sell more Champagne: But at wich price? Bubble-wine price? So, yeah, Hong-Kong may see many Eterna watches in it's shops but do we need any Chinese owner for that? On another side , Milus may be popular in Asia but I'm certainly not about to buy one... To conclude: What's the point about Eterna making more money if them shield got stained? Remember what happened to Yema before and after the Asian takeover. Porsche just need the cash: They don't give a damn about what will happen to Eterna... |
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Hammerfjord Moderator
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For those who are wondering about what happened to the French Yema brand and it's prestige fall-down after the Asian jump, here's a good presentation of the brand: http://www.harrybishop.ca/?p=1458 It is the classic example of an Asian take-over, quality getting down and cheap, reputation fall and bankruptcy. I don't mean that Eterna is exactly on the same path but we been there and done that... |
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afc14284 3T WIS 
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Lets hope that Eterna doesn't get the "Yema" treatment  ... It would be sad to see a company with so much history to go under.. |
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Tomsimac 3T WIS 
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I may have missed the point. I read Eterna was bought and stripped of some trademarks and designs, then sold repeatedly. Eterna I believe owned the first design we refer to as ETA Once they took the design and patents, Eterna became essentially a different company. We may see some dials reflecting the Eterna name, say on the ones that no longer say Swiss Made? Notice Bremont may just go with London. Course I could be all feathers on this but it is a world wide business and marketing is the thing |
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Hammerfjord Moderator
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It's just the same old story of the chinese buy-over... They take all the patents and knowledges, make them chinese versions from it. They produce all the parts in China and it comes to Switzerland to receive a movement and a /Swiss-Made/ stamp. Then when it goes down, it's sold back or bankrupted. |
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Hammerfjord Moderator
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Here we go again. Haidian who is already owning Eterna, owns now Corum... Haidian is manufacturing it's own brands in China and will certainly find a nice way to cut the cost on producing the new Corum parts. I love it. Why not selling it all and call it "Chwissnese-Made" : That would be much more easy to know what we buy. There's a lot of investors over the world who have enough funds to buy Swiss watch brands in difficulty: Russians, Americans, Middle-east oil magnates could just do it... But wait: They don't produce billions of watch parts/year in them factories which could be used under the "Swiss-made" label, so where would be the fast way to make money out of those investments? I bet that this phenomena will increase until the 50% Swissness law will be changed. http://www.fhs.ch/en/news/news.php?id=1145 "On April 23, Corum announced 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. 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. China Haidian Holdings Limited is a company publicly listed on the Hong Kong Stock Exchange since 199. It 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. It owns the Ebohr and Rossini watch brands, both of which are in the top four domestic watch brands in China. It also owns Eterna which has a license to manufacture and distribute Porsche Design watches worldwide." |
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Patrik72 3T WIS 
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From a collectors pov, buy watches with ETA mov now! Collect all the pre-2013 models. Sell them after 10 years to make a buck. Putting aside the jokes. Im afraid that this Chinese takeover will lead to producing mass-quantity products over quality products. |
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