Breitling has acquired Gallet, bringing back from relative obscurity the historic watch brand founded nearly two centuries ago, in 1826.
Breitling acquires Gallet, reviving the legacy of the Swiss watchmaker – Breitling
The move comes 15 months after Breitling acquired Universal Genève in late 2023, reinforcing Breitling’s drive to become a major player and influence in luxury watchmaking.
Known for its precision timekeeping, which is prized by frequent travelers, explorers, and adventurers, Gallet is now positioned as Breitling’s new entry-level luxury watch brand, the company said in a release.
The terms of the acquisition were not revealed.
The brand Gallet actually dates back to 1466, when founder Humbertus Gallet began his eponymous clockmaking business, making it arguably the world’s oldest timekeeping marque.
“This acquisition is a logical step in the development of our company,” explained Breitling CEO Georges Kern.
“We are breathing new life into Gallet by drawing on Breitling’s expertise and know-how. Our ambition is clear: to revive Gallet as a leading watch brand while preserving its spirit of adventure and innovation in chronographs,” added Kern.
Founded in 1884, Breitling is a leading luxury watchmaker based in Grenchen, Switzerland. In 2017, the Partners Group bought an 80% stake in Breitling for $870 million before acquiring the remaining 20% the following year.
“We have full confidence in Breitling, which is well placed to increase its market share in the luxury watch sector,” says Alfred Gantner, co-founder of Partners Group and president of Breitling. “The acquisition of Gallet is the second key step in strengthening our long-term strategy.”
Gallet helped usher in the age of aviation by creating the chronograph that measured the first powered flight in 1903. Piloted by Wilbur and Orville Wright, the Kitty Hawk Flyer covered 259 meters in just 59 seconds. With its timepiece marketed under the name “The Sun,” Gallet made a lasting mark on aviation history.
In 1907, Gallet acquired Société d’Horlogerie Electa and founded Fabrique d’Horlogerie Electa, Gallet & Co. The following years were marked by technical innovations, patents, and international recognition, enabling Gallet to establish itself as a benchmark in precision timekeeping.
Thereafter, Gallet continued to focus on the American market, operating mainly as an établisseur—designing watches while supervising their manufacture and assembly in Switzerland.
In the 1970s and 1980s, when the Swiss watch industry was hit by the quartz crisis and the soaring Swiss franc, Gallet, like many other great names, lost some of its splendor.
Now, under the leadership of Breitling, Gallet is poised to embark on a long-awaited renaissance.
Isabelle Parize is stepping back into the leadership role at Delsey. As CEO of the French luggage and accessories brand from 2018 to 2021, Parize successfully guided the company through the challenges of the COVID-19 pandemic, which severely impacted international travel.
Isabelle Parize – DR
In June 2021, she handed over the reins to Davide Traxler, a turnaround specialist who, according to his LinkedIn profile, no longer holds the position. Parize, however, remained involved with Delsey as chair of the supervisory board.
Parize began her career at Procter & Gamble, where she held key strategic roles in marketing and brand management for 13 years. In 1994, she joined Henkel, where she served as vice president for Europe, Africa, and the Middle East. After a period leading Canal+ Distribution (part of the Vivendi Group), Parize became chair of the board at French beauty retailer Nocibé in 2011. In 2015, she was appointed CEO of the German group Douglas, which had acquired Nocibé the previous year.
In addition to her role at Delsey, Parize has served on the board of American cosmetics group Coty since 2020 and the board of Carbios, a leader in environmental biotechnology, since 2022.
Founded in 1946, Delsey Paris is a leader in premium luggage and ranks as the world’s third-largest luggage brand. Its collections are available online and at more than 6,500 points of sale in over 90 countries.
Delsey Paris, which opened a flagship store on the Champs-Élysées in Paris in April 2024, also operates 68 international boutiques, including several in Asia. The brand generates 40% of its sales in the United States.
After weathering the pandemic years, Delsey Paris has returned to solid growth, with 2023 sales increasing 20% to reach €250 million. A year ago, “Le Figaro” reported that this turnaround could pave the way for a change in ownership.
To fête its 15th birthday, Jacquemus is celebrating its history. This week, the Parisian label founded in 2009 by Simon Porte Jacquemus launched the Les 15 ans capsule collection, reissuing 18 signature models selected from its archives, chosen among its bestsellers, dresses in particular. The collection is available at Galeries Lafayette in Paris and Saks Fifth Avenue in New York, promoted by ad hoc window displays.
La Robe Maman dress from 2016 – ph Deo Suveera & Pamela Dimitrov – Jacquemus
The anniversary items have been chosen from virtually all the collections launched by Jacquemus since 2013, reflecting its sunny, sensual fashion. Among others, the capsule collection features the Col U 1960s-inspired short dress in performance fabric from 2013, the Amour wedding dress from 2020, the Françoise black dress with large square white collar from 2017, the Epaules géantes maxi tartan jacket with oversized shoulders from 2016, and the Castagna red draped mini dress worn by Kylie Jenner at the Jacquemus runway show staged at the Maeght Foundation in January 2024.
“Each look defines the silhouette as an individual story articulating the Jacquemus language: Round-square geometry, draped cuts and minimalism, architectural silhouettes and shapes, transparency and single-material fabrics, polka dots and stripes, the twin inspiration provided by great 1980s fashion and 1950s couture,” the label said in a press release, underlining that “they are the visual references and obsessions that have defined and inspired Jacquemus, from early on until today.”
A selection of dresses will be matched with each look of the Les 15 ans capsule collection. Among the reissued dresses, La Robe Saudade, La Robe Valérie, La Robe Mazzolu, La Robe Biasi, La Robe Novo and La Veste Camargue will be on sale at all Jacquemus stores, on the label’s e-shop, and at selected retail partners worldwide.
In 2024, Inditex expanded its presence with new store openings across 47 markets, reinforcing its dominance in global fashion retail. But where is the company focusing its expansion strategy, and what does its commercial trajectory look like for 2025? Closing its latest fiscal year on January 31, the Spanish powerhouse marked a significant milestone with its first store openings in Uzbekistan. Now, the group is poised to push forward, adding Iraq to its ever-growing list of markets.
Inditex is set to debut in Iraq in 2025 – Inditex
”We will enter Iraq with stores from all our retail brands, allowing us to introduce our fashion to a broad new customer base. Expanding into a new country not only assesses demand but also measures the market’s reception of our collections. We are incredibly excited about this next step,” stated an Inditex executive during the group’s annual financial presentation, where it reported a 7.5% increase in sales and a 9% rise in profits for 2024.
Alongside its expansion into Iraq, Inditex is reinforcing its presence in strategic global cities, with new flagship locations set to open in Nanjing, China; Athens, Greece; Eindhoven, Netherlands; and Osaka, Japan. Meanwhile, ZaraMan is making a statement with a high-profile opening on Bahnhofstrasse in Zurich, one of Europe’s most prestigious shopping avenues.
Several of Inditex’s other brands are also expanding into new markets in 2025. Bershka will debut in Sweden, Oysho will enter the Netherlands and Germany, and Stradivarius will launch in Austria.
“We will continue executing projects that secure our presence in the most iconic retail destinations around the world,” noted CEO Óscar García Maceiras, citing Zara’s upcoming flagship openings in Nanjing, China, and The Grove, Los Angeles, as prime examples. In addition, Inditex will introduce its third El Apartamento concept—a luxurious retail space merging Zara and Zara Home—within its Serrano Street flagship in Madrid. Meanwhile, London’s Oxford Street will welcome Pull&Bear and Massimo Dutti, while in Paris, Oysho will establish a presence in the distinguished La Madeleine district.
The United States, Inditex’s second-largest market after Spain, remains a strategic priority. In 2025, the company plans to open, renovate, or expand eight stores, with another 13 projects scheduled for 2026. The Los Angeles location will be joined by another opening at Forum Las Vegas, in addition to significant renovations and expansions in Boston and New York’s Hudson Yards.
“We are currently present in 25 states in the country, and in 2026, we will reach 26, including North Carolina,” said the executive.
At the close of 2024, Inditex operated 5,563 stores worldwide, with its total store count decreasing by 129 compared to the previous year. Among its brands, Zara leads with 1,759 stores, followed by Bershka with 854, Stradivarius with 835, Pull&Bear with 800, Massimo Dutti with 528, Oysho with 396, and Zara Home with 391. In total, Inditex’s retail space surpassed 4.6 million square meters.
Beyond its brick-and-mortar presence, the group now operates e-commerce in 214 markets, with online sales soaring 12% in 2024, surpassing the €10 billion milestone (€10.16 billion) for the first time. Digital sales now account for 26.3% of total revenue, supported by 218 million active app users and 8.1 billion online visits, marking a 10% increase year-over-year.
Entertainment8 years ago