Business News: Corum Watch Brand again in Swiss hand after management buyout

Citychamp paid around CHF 86 million in 2013 to buy Corum and at the same time take over millions more in relatives, according to the Swiss newspaper Le temps. The company listed in Hong Kong, which also has the Eterna brand, and the Dreyfuss Group Watch Assets, said in its recent annual report that Corum, Eterna, and the Dreyfuss group contributed to the income after taxes in 2024 or about 20 million US dollar with a sharp decrease of US dollar in 2023. 2024 or about 11.5 million US dollars.

Citychamp said that Corum was affected by the double -digit percentage of Swiss watch exports to China and Hong Kong in 2024, but was also confronted with challenges because “the slow response to the development of the developing consumers was asked. Customers preferred increasingly attractations to older collections, so that old pieces have to be sold with a higher discount,” said the company in its annual report.

According to the submission, the company lowered the costs and rationalized business activities in response to falling sales and losses and focused on the production of less, more expensive timepieces.

More information about Corum can be found here.