It is for the sake of continuity and sustainability of the brand, Fredrique Constant that CEO Peter Stas has chosen to to take up the acquisition offer put forward by Citizen Watch. In a brief email exchange, Stas explained that despite having been approached in the past, it wasn’t until last year that an offer made was seriously considered. Says Stas, “With certain personal and business considerations in mind, we started to have discussions with the two groups that approached us last year.”
Within these discussions, Stas shared that three major benefits from the offers on the table became increasingly clear for him. To quote Stas himself, these benefits were:
“1. More funding as part of a stock listed group, enabling more aggressive investments (new facilities, international advertorial reach, opportunity for a brand booth in Hall 1.0 at Baselworld 2017).
2. Combined R&D on mechanical and electronic calibers driving continued innovation.
3. Stronger global distribution to allow us to grow in certain markets, in particular the US.”
Fredrique Constant and Citizen Watch took the year to deliberate on the finer points of the acquisition before the final announcement was made today.