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.
 | |
| 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 |
Corporate structure
editThe 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
editTimex Group B.V.'s products are manufactured in the China, France, Hong Kong, India, Philippines and Switzerland, often based on technology that continues to be developed in Germany and the United States.[citation needed] The group has operations in a number of countries in Europe, the Americas, Asia and Oceania.
Name
editShortly 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
editTimex 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
edit- ^ 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 (October 2007). Ebner Publishing International: 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.