Interview With Breitling CEO Georges Kern 2024

February 14, 2024

Welcome back to Hodinkee Radio. After our 10-episode run of "Ben Clymer Presents," we're happy to bring Hodinkee Radio back to a weekly show, publishing every Wednesday.Just like with Ben Clymer Presents, each episode will also have video, so swing by Hodinkee's YouTube channel (or watch below). Only want the audio? It's being published to the same old Hodinkee Radio feed, so check your feeds or subscribe wherever you find your podcasts (might we recommend Apple Podcasts, Stitcher, Spotify, or TuneIn). This week, Breitling CEO Georges Kern joins Ben and me for a chat. Kern has been in the watch industry for over 30 years and has led several large Swiss brands. He joined Richemont in 2000 and played a key role in integrating A. Lange & Sohne, Jaeger-LeCoultre, and IWC after the trio of brands was acquired. He became the conglomerate's youngest CEO in 2002 when he took the helm at IWC.?In 2017, Breitling appointed Kern as its CEO, just as CVC Capital Partners had acquired a majority stake in the brand. According to Bloomberg, Breitling was valued at about $900 million when CVC purchased its majority stake in 2017. During his six years as CEO, he's led a massive turnaround for Breitling. Last year, it entered the top 10 Swiss brands by sales, with annual turnover approaching $1 billion. A focus on fewer models, Breitling's heritage, and streamlined distribution has led to the brand's revival.?In 2022, Partners Group acquired a majority share of Breitling, with CVC reducing its ownership. The deal valued the Swiss watchmaker at more than $4.5 billion. Our conversation starts with an in-depth discussion of Breitling's surprise acquisition of ?Universal Genve, including details on Kern's plans for the brand's relaunch. Then, we talk about his tenure at Breitling before zooming out on the changes he's seen over his more than 30 years in the watch industry.? Thanks to Accutron for supporting Hodinkee Radio. For more on the Accutron DNA Casino Collection, visit accutronwatch.com. Show Notes 00:01:Accutronwatch.com1:00: It's Back! Universal Genve To Relaunch Under The Same Ownership As Breitling5:24: A Week On The Wrist: The Universal Geneve Polerouter7:02: Why I Bought Peter Fullerton's Universal Geneve Tri-Compax12:48: Alpha Hands: Nina Rindt's Nina Rindt17:20: Accutronwatch.com19:12:Breitling Brings Heritage Design To A Revamped Premier Chronograph Line19:15: Breitling's Top Time Classic Cars Collection Goes In-House And Adds A Thunderbird19:19: Breitling Is Making Waves With The New SuperOcean20:10:The Breitling Navitimer Was Released 70 Years Ago C And This Year It's Back In A Big Way21:10: Breitling Valued at $4.5 Billion in Partners-CVC Deal21:38: Victoria Beckham Designed A Collection Of 36mm Breitling Chronomats25:12:The Updated Breitling Avenger Takes Flight With A Chronograph, GMT, And Automatic Models27:10: Richemont Group Announces Unexpected Resignation Of Georges Kern, Effective Immediately