Needless to say, in the last couple of months’ worth of uncertainty in De Bethune’s future, we have all shared a nervous sweat or two. And their absence at the 2017 Geneva and Basel fairs certainly did not help matters. Thankfully the light at the end of the tunnel might finally be at hand.
De Bethune, today, has announced that the brand has made the “…decision to sell the majority of its capital to an investment consortium led by Pierre Jacques, former CEO of the brand, and private equity investor Giovanni Perin.”
With that said, David Zanetta, who co-founded the brand along with master watchmaker, Denis Flageollet, has now given up the entirety of his stake in the brand. Denis himself will continue to maintain his significant share in the company as COO and, of course, his function as the genius behind De Bethune’s watchmaking.
Pierre Jacques, no stranger to the brand, who left the company at the end of 2015, emerged with MCT Watches in 2016 and was there right up until Basel of 2017. Sad news here is that MCT’s, unfortunately, had to cease their operations as of August 2017 due to a shift in their investor’s directions.
Pierre will now be with De Bethune as shareholder, CEO and Chairman of the brand’s Board of Directors with effect from the 1st of December 2017. Giovanni Perin will remain close at hand, as well, as investor and advisor.
Shares Giovanni, in the press release sent out by De Bethune, “I am pleased to contribute to De Bethune’s development. I am convinced that the quality of the management, together with the resources now available, ideally positions the company on the path to success.”
Again, needless to say, there is a great many of us in the horology community, who all echo Giovanni’s sentiments for De Bethune: A watchmaking house that has given us immense creativity, in recent years, and yet holds immense potential to go so much further.