Merger to support expansion and establish brand as a manufacturer.
Swatch Group has announced plans to support the “significant expansion” of watch brand Blancpain by merging it with movement and component manufacturer Frédéric Piguet, completing the brand’s “verticalisation as a manufacturer”.
The merger of the two Swatch companies has been made in reaction to “the significant expansion of the Blancpain brand and the company’s increasing requirement for components for movements”. The result of the merger will be the establishment of Blancpain as not just a watch brand but a manufacturer in its own right.
The merger of the brand with Frédéric Piguet, which has supplied Blancpain for many years, will take immediate effect and the entity will now be called Manufacture Blancpain.
Swatch has also noted its intentions to merge its watch wheel business François Golay with its micro-mechanical component manufacturer Valdar to centralise production, assembly and high-end finishing processes. François Golay and Valdar were previously based in Brassus and L’Orient respectively but will now be relocated to a single location in the Vallée de Joux.
In a statement, Swatch said: “All employees at Frédéric Piguet and Valdar will be maintained and taken over by Blancpain and François Golay, both of which are companies of the Swatch Group; thus guaranteeing optimal synergies for development, including the concentration of major assets for capital investment and expenditure required for continued growth and progression.”