News The start of the millennium coincides with powerful sales momentum. Industrial infrastructures, human resources and marketing investments are all on the rise.
The Manufacture Jaeger-LeCoultre ended the financial year on a confident note, in line with the company's strong upswing over the past few years.
The 1999 balance-sheet shows a turnover of 202 millions Swiss francs up 22.5 % compared with the previous year (1997-1998: + 23.5 %). Given the current business trends, characterised by high and steady market demand, Jaeger-LeCoultre has set itself the goal of doubling its turnover within the next few years.
In parallel with the pursuit of this objective, and in order to support the success of its Reverso and Master watch lines, the Manufacture based in the Vallée de Joux is continuing to reinforce its production capacity and personnel. Within the space of a year, the workforce has grown 10 % from 780 to 850.
Moreover, in preparation for future developments, the Manufacture has opened a new assembly and casing-up unit in Porrentruy, in the Canton of Jura. Operational as of January 1st 2000, it will benefit from the expertise of highly qualified graduates of the Jura watchmaking school.
As of this year, the site will employ ten people. Subsequently, the workshop located in the Centre Technopole is intended to house a fifty-strong staff. Over the next five years, Jaeger-LeCoultre plans to invest two millions Swiss francs in the Porrentruy facility.
A strict distribution strategy and an increasingly closer partnership with the brand's retailers, both crucial factors behind the current success, will represent the main marketing priorities of the future. The brand is currently represented in 50 countries and two-thirds of sales are achieved by its own sales teams and subsidiaries.
The rise in investment allocated to marketing and communication activities is well above the rise in turnover, and these investments will continue their upward trend in the coming years. The brand's new worldwide advertising campaign received great reviews at the time of launch.
March 21, 2000