Timex Group acquires Scandi watch brand Daniel Wellington
Timex Group has acquired a majority stake in Daniel Wellington, a Swedish brand known for its minimalist, Scandi-style watches, founded in 2011 by Filip Tysander. The acquisition allows Daniel Wellington to continue operating independently from its Stockholm headquarters while collaborating with Timex to enhance innovation, distribution, and appeal to younger consumers globally. Tysander expressed excitement about the partnership, highlighting Timex's long-standing reputation for craftsmanship and quality as essential for unlocking the brand's future potential. Since its inception, Daniel Wellington has seen significant growth, with reports indicating sales of around one million watches annually by 2014. However, as the demand for simple quartz fashion watches has declined due to competition from smartwatches and other brands, the company has shifted its strategy from wholesale to operating its own stores. Timex Group, facing similar market challenges, sees substantial potential in Daniel Wellington, believing that combining strong design with Timex's capabilities can accelerate the brand's growth while maintaining its authentic spirit.
