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| Company type | Privately Held |
|---|---|
| Industry | Watch manufacturing, Luxury Goods |
| Headquarters | Middlebury, Connecticut, U.S.; Hoofddorp, Netherlands[citation needed] |
Number of employees | 5,000+ |
| Website | timexgroup |
Timex Group B.V., or Timex Group, is an American - Dutch holding company headquartered in Hoofddorp, the Netherlands and Middlebury, Connecticut.[citation needed] It is the corporate parent of several global watchmaking companies including Timex Group USA, Inc.,[1] TMX Philippines, Inc., and Timex Group India Ltd.
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Corporate structure
The Timex Group itself was privately held by the Norwegian holding group Fred. Olsen & Co. The private equity company Baupost Group purchased majority control in 2020.[2] The private company releases no data on its sales or production. Businesses and exclusive worldwide licenses include the Timex Business Unit (Timex, Timex Ironman, Opex, Nautica), Timex Group Luxury Watches (Valentino, Salvatore Ferragamo), Sequel (Guess, Gc), Vertime (Versace, Versus) and Giorgio Galli Design Lab.[3]
Production
Timex Group B.V.'s products are manufactured in the Philippines, Hong Kong, China, France, India and Switzerland, often based on technology that continues to be developed in the United States and in Germany.[citation needed] The group has operations in a number of countries in Europe, the Americas, Asia and Oceania.
Name
Shortly after purchasing the Waterbury Clock Company in 1941, founder Thomas Olsen renamed the company Timex, as a portmanteau of Time (referring to Time magazine) and Kleenex.[4]
Companies and brands
Timex Business Unit, A division of Timex Group USA, Inc.
- Timex
- Opex
- Nautica
- TX Watch Company (2006-2011)
Sequel AG
- Guess
- Gc
Vertime SA
Timex Group Luxury Watches
- Salvatore Ferragamo Timepieces
- Valentino Timeless - no longer licensed
- Vincent Bérard (2006-2010)
Giorgio Galli Design Lab (Design studio, acquired 2007) Galli designs watches for:
- Timex
- Nautica
- Versace
- Versus
- Salvatore Ferragamo
References
- ^ Staff – JCK Online (2005-01-01). "'...and keeps on ticking'". JCKonline. Archived from the original on 2010-05-21. Retrieved 2010-05-06.
- ^ "Baupost buys majority stake in Timex". Alternative Watches. Retrieved 18 October 2023.
- ^ Buchanan, Norma (2007). "Inside the New Timex" (PDF). WatchTime. Ebner Publishing International (October 2007): 112–119.
- ^ Shawn Tully (March 7, 2015). "The crazy, true-life adventures of Norway's most radical billionaire". Fortune magazine.
A few years later Thomas Olsen would rechristen the company Timex. He hatched the iconic name from an unusual confluence of sources. Recalls Fred: "My father always loved to noodle with words. He liked to read Time magazine, and he used a lot of Kleenex, so he put the two names together and got Timex.
External links
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This page was last edited on 20 January 2024, at 14:25