Perspective Acquisition

This journalists gets it:

Ultimately, it should be about people. No one individual builds a brand, a brand is built by a group of people working together towards a common goal. And this came up in my conversation with Yasmina. Peter and Aletta Stas wanted to be certain that in selling the company, they would not simply be leaving their team high and dry. There is no shortage of people with money out there who want to own a watch brand, so the challenge really became finding a buyer who valued the same things that they did. And in Citizen, they found the right fit. So to be clear, no redundancies, no terminations – things stay as they are. The agreement is that the Stas team will stay on for five (5) years to ensure continuity and continue the projects that are already in motion. In addition, the people behind the scenes will be staying on as well. Now I am fairly certain that the number I heard was five (5) but in fairness I was making an espresso just at that moment (it was early here at Tempus Fugit HQ), but I am fairly certain that was the figure.

The shock waves are that the days of the mighty, all-knowing, all-powerful Swiss group might be over.  At a time where brands are laying off staff then spending millions on America’s Cup sponsorships and the inevitable wining, dining and gifting that go along with it to keep the retailers and press members purring, this is a completely different approach.  This is a brand that put its PEOPLE above its own vanity.

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