Earlier this year in February, independent watch brand HYT made the announcement that they had successfully completed a round of private financing in conjunction with their sister company Preciflex. According to official sources, the initial target of achieving a CHF 15 million capital increase was eventually raised to CHF 23 million when investor interest proved stronger than expected. HYT and Preciflex indicated that these resources would be used to accelerate plans for the two companies to expand into new areas of speciality.
Now, exactly two months later, HYT and Preciflex are ready to release a number of new details regarding their plans. I was privileged to speak with the incumbent chief executives of both companies, Vincent Perriard (HYT) and Grégory Dourde (Preciflex), last week for this reason.
The proprietary fluid technology used in all HYT watches, stemming from an invention by HYT co-founder Lucien Vouillamoz and produced by Preciflex, is to be further developed and refined — particularly in the areas of precision and energy efficiency. These developments will then form the basis of a class of watches that are new to both companies — entry-level models featuring electronics-driven liquid indications and connectivity with personal smart devices.