GENEVA WATCHES

Arguably the most well-known Universal watch of the post-war era was the Polerouter. Designed by Gérald Genta, it was originally produced as the Polarouter in 1954, appearing with a Cal 138SS Bumper movement. The following year it was replaced with the innovative Cal 215 microtor movement which, with minor changes and a name change (from Polarouter to Polerouter, in 1958), was produced until late 1969

HISTORY

On September 4, 2008, the Binda Group entered an agreement with private equity firm Heritage Partners to acquire 100 percent of Advance Watch Group Ltd., the U.S. watch and clock manufacturer doing business as Geneva Watch. Geneva Watch Group began producing timepieces in 1974 and is headquartered in New York. The company has around 1800 employees worldwide, split between locations in the US (300 in New York and Michigan) and the Far East (1500 in Hong Kong and China). The company makes and distributes its own surfer brand Freestyle and also licenses brands from Kenneth Cole, Tommy Bahama, Betsey Johnson, BCBG, Ted Baker, Mexx, Speedo, Elgin, Thomas Kinkade and Mudd Jeans.

During the year ending March 2008, Geneva recorded net revenues of US$192 million, and sold around 25 million watches. With the acquisition, Binda expects 2008’s total sale revenues to reach €450 million euros ($665 million). The company will be headed by Jeff Gregg, who will report to Gianni Pieraccioni, Binda Group managing director.

BRIEF DESCRIPTION

The original enabling statute, Loi sur le contrôle facultatif des montres (Law on the Voluntary Control of Watches), was enacted on November 6, 1886, and was amended on May 27, 1891, November 15, 1958, and December 9, 1959.

It established, in the canton of Geneva, an office for the voluntary inspection of the watches from Geneva at the School of Horology to examine and mark watch movements. In general, the watches may be marked if following an examination, they are recognized to have all qualities of good workmanship likely to ensure a uniform rate and durability and whose work, at a minimum was done on commission by workmen living the canton of Geneva.