U.S. Markets closed

TechnoMarine Bought Out by Its Management

GENEVA--(Marketwired - Jul 22, 2013) - TechnoMarine SA ("TechnoMarine") has announced a change of shareholders today, with Jacques-Philippe Auriol and the management taking over all shares in the company. The agreement was signed on 19 July 2013.

This buyout marks an important step in implementing the revitalisation strategy initiated by Jacques-Philippe Auriol since he joined the company in 2011, illustrated by the repositioning of the brand and the product range, improvement of quality, a new communication strategy and the expansion of the distribution circuit.

With this strategy, TechnoMarine is equipping itself with the resources to continue developing and conquering new markets. The Baselworld 2013 trade show gave the company an opportunity to present its new identity and make a start on gradually renewing its range by unveiling three new lines. In line with this dynamic approach, TechnoMarine also plans to launch new products by the end of the year.

"I am delighted about this new development, which favours continuity. This buyout will enable us to capitalise on the groundwork we have been laying for the past two years, and to implement a successful business project with the team I have put together," explains Jacques-Philippe Auriol.

Jacques-Philippe Auriol

Jacques-Philippe Auriol, 55, has built up over 30 years of experience in the watchmaking and luxury goods sectors. Having performed various managerial roles within the Richemont Group, he subsequently headed Baume & Mercier and Gucci Group Watches.

Jacques-Philippe Auriol has been CEO of TechnoMarine since January 2011.

About TechnoMarine
Established in 1997 in Saint-Tropez, TechnoMarine is an international watchmaking company based in Geneva, with branches in Miami and Hong Kong. It sells some 140,000 watches every year at around 1,500 points of sale in over 50 countries. TechnoMarine is positioned in the high-end segment and consciously sets itself apart from traditional watchmakers; it targets non-conventional customers who like to blend creativity and quality.

Press release: http://hugin.info/154740/R/1717675/571225.pdf