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Timex Group

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Timex Group B.V.
Company typePrivately Held
IndustryWatch manufacturing, Luxury Goods
HeadquartersMiddlebury, Connecticut, U.S.; Hoofddorp, Netherlands[citation needed]
Number of employees
5,000+
Websitetimexgroup.com Edit this at Wikidata

Timex Group B.V., or Timex Group, is an American - Dutch holding company headquartered in Hoofddorp, the Netherlands and Middlebury, Connecticut.[citation needed] It is the corporate parent of several global watchmaking companies including Timex Group USA, Inc.,[1] TMX Philippines, Inc., and Timex Group India Ltd.

Corporate structure

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The Timex Group itself was privately held by the Norwegian holding group Fred. Olsen & Co. The private equity company Baupost Group purchased majority control in 2020.[2] The private company releases no data on its sales or production. Businesses and exclusive worldwide licenses include the Timex Business Unit (Timex, Timex Ironman, Opex, Nautica), Timex Group Luxury Watches (Valentino, Salvatore Ferragamo), Sequel (Guess, Gc), Vertime (Versace, Versus) and Giorgio Galli Design Lab.[3]

Production

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Timex Group B.V.'s products are manufactured in the China, France, Hong Kong, India, Philippines and Switzerland, often based on technology that continues to be developed in Germany and the United States.[citation needed] The group has operations in a number of countries in Europe, the Americas, Asia and Oceania.

Name

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Shortly after purchasing the Waterbury Clock Company in 1941, founder Thomas Olsen renamed the company Timex, as a portmanteau of Time (referring to Time magazine) and Kleenex.[4]

Companies and brands

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Timex Business Unit, A division of Timex Group USA, Inc.

Sequel AG

Vertime SA

Timex Group Luxury Watches

Giorgio Galli Design Lab (Design studio, acquired 2007) Galli designs watches for:

  • Timex
  • Nautica
  • Versace
  • Versus
  • Salvatore Ferragamo

References

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  1. ^ Staff – JCK Online (2005-01-01). "'...and keeps on ticking'". JCKonline. Archived from the original on 2010-05-21. Retrieved 2010-05-06.
  2. ^ "Baupost buys majority stake in Timex". Alternative Watches. Retrieved 18 October 2023.
  3. ^ Buchanan, Norma (2007). "Inside the New Timex" (PDF). WatchTime (October 2007). Ebner Publishing International: 112–119.
  4. ^ Shawn Tully (March 7, 2015). "The crazy, true-life adventures of Norway's most radical billionaire". Fortune magazine. A few years later Thomas Olsen would rechristen the company Timex. He hatched the iconic name from an unusual confluence of sources. Recalls Fred: "My father always loved to noodle with words. He liked to read Time magazine, and he used a lot of Kleenex, so he put the two names together and got Timex.
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