News Based in Rapperswil (Saint-Gall), Excellence Holding has acquired the entire share capital of Le Locle based company PMH (Production et marketing horloger) SA, which owes its worldwide renown to its Cricket alarm calibre and which has now undergone a name change to Manufacture des montres Vulcain SA.
In Saudi hands, Excellence Holding aspires to bring small, upmarket companies under one roof and develop their potential in the watch and jewellery sector. The group, which employs around 80 people, has an annual turnover of approximately 100 million francs. Also in its portfolio are Swiss retailer Les Ambassadeurs (100%) and the top end watch brand Jaermann & Stübi (60%).
Employing twelve people, Vulcain is present in more than 170 stores throughout the world, particularly in Japan, Hong Kong, Singapore and Taiwan, as well as in France and Italy. Producing its own calibres (currently five in total), the firm has been run since 2002 by Bernard Fleury. It was founded in 1858 and still has its headquarters in Le Locle.
January 07, 2010
