Independent Swiss boutique brand De Bethune has announced today its decision to sell the majority of its capital to an investment consortium led by Pierre Jacques, former CEO of the brand, and private equity investor Giovanni Perin.
Founded in 2002 by David Zanetta, a collector with a passion for art, history and timepieces, and Denis Flageollet, the son, grandson and great-grandson of watchmakers. The two sought to blend time-honored skills and the latest scientific breakthroughs, devoted to the service of chronometric precision.
De Bethune sees itself as a research and development tool, a laboratory making use of cutting-edge technologies implemented in the spirit of the 18th century master watchmakers. The company has developed and produced no less than 25 calibres entirely in-house, around 30 world firsts, a number of patents, as well as 150 one-of-a-kind models.
Within the framework of this transaction, Flageollet, currently the COO, retains a substantial stake in the company. Zanetta is stepping down and ceding all his shares. He had already withdrawn from the operational side of the company last year, on his 70th birthday.
“We are delighted to be joining forces with ideal partners to support our long-term development plans”, said Denis Flageollet, COO De Bethune. “Pierre Jacques, who already headed the company for five years between 2011 and 2015, has a wealth of experience and in-depth understanding of it. To have him now as shareholder, CEO and Chairman of the Board of Directors will be immensely beneficial for De Bethune.”
“By leveraging our network and our expertise, we are going to work with a view to further enhancing the reputation of this amazing brand and shaping the future of one of the finest Swiss watch Manufactures. I am looking forward to supporting De Bethune in this new growth phase, in close cooperation with Denis Flageollet,” said Pierre Jacques, who will be taking up his new responsibilities on December 1, 2017.