Last week, Citizen announced its acquisition of Frédérique Constant Holding SA. With this, Citizen will gain the brands Frédérique Constant, Alpina, and DeMonaco.
This move will provide Citizen with an even stronger presence in every segment of the watch business, offering consumers a wider variety of products that range from accessible timepieces to affordable luxury watches.
“We have a great opportunity to expand the sales of Frederique Constant through our current distribution channels of Citizen branded watches, particularly in Japan and the U.S.” says Toshio Tokura, Citizen’s CEO. “With the acquisition of Frederique Constant, the Citizen Watch Group will be able to augment its portfolio of brands and occupy the space in the markets where some of our competitors operate and further expand the presence of the Citizen brand in the market.”
This development is part of the “Citizen Global Plan 2018” business plan, which revolves around “a multi-brand strategy seeking to complete its brand portfolio by acquiring Swiss brands.”
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
