This strategic milestone underlines the commitment to further advance the global watch and jewelry brand
/PRNewswire/ — Timex Group announced today that it has completed the acquisition of Daniel Wellington and the globally recognized watch and jewelry brand is now fully integrated into the Timex Group portfolio. This milestone follows Timex Group’s original 25 percent stake three years ago and provides the foundation to increase investment in Daniel Wellington’s next phase of growth through product innovation, brand building and expanded global capabilities.
Timex Group has been involved in Daniel Wellington for three years and has been working closely with the company since then. During this period, the companies have worked closely together in product development, procurement, brand communication and commercial activities. Timex Group is impressed with the Daniel Wellington team, the quality of the products they have brought to market and the progress they have made in returning the brand to growth.
These advances have given Timex Group confidence about the opportunities ahead. With Timex Group now owning 100 percent of Daniel Wellington, it will increase its investment in Daniel Wellington and bring its global capabilities, operational infrastructure and brand building expertise to further accelerate the brand’s exciting growth.
“We have been involved and working with Daniel Wellington for three years. The closer we have worked with the team, the more confident we have become in the brand’s potential,” said Tobias Reiss-Schmidt, President and CEO of Timex Group. “We are impressed with the team, the beautiful products they have brought to market and the progress they have made in returning Daniel Wellington to growth. Now that we own 100 percent of the brand, we are increasing our investment and bringing the full strength of Timex Group’s global capabilities and infrastructure to further drive this exciting growth story.”
Daniel Wellington will continue to operate as a standalone brand within the Timex Group, preserving the Scandinavian minimalist design tradition, unique style and direct connection to consumers that have shaped the brand’s global success. The brand will continue to evolve, benefiting from Timex Group’s expertise in design, product development, sourcing, manufacturing, distribution, digital customer engagement and brand building.
The full acquisition of Daniel Wellington further advances Timex Group’s strategy to build and expand a portfolio of distinctive global brands with continued consumer relevance and unique storytelling. Daniel Wellington consolidates the company’s position in design-led watches and jewelry products, while underlining the Group’s ability to realize the long-term potential of iconic brands through its global business platform.
“When I founded Daniel Wellington, my goal was to create a brand that made timeless design personal, stylish and accessible,” said Filip Tysander, founder of Daniel Wellington. “Watching the brand evolve into a globally recognized brand has been an extraordinary journey. What’s most important to me is that the brand continues to evolve without losing what made it so special in the first place. Timex Group has shown real respect for Daniel Wellington’s identity while bringing the necessary experience and scale to support the brand’s continued growth. I’m proud of what our team has built, grateful to everyone who has been part of this journey, and confident that the brand will too will continue to thrive in their next chapter.”
Financial terms of the transaction were not disclosed.
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