Zenith Targets Ultra‑Luxury Market, Threatening 100 Jobs in Le Locle
Zenith is shifting its strategy toward the ultra‑luxury segment of haute horlogerie, a move driven by challenging market conditions such as a strong Swiss franc, U.S. tariffs, and declining demand in key regions like the Middle East and Asia. The restructuring includes a collective redundancy process that could eliminate around 100 jobs at the Le Locle manufacturing site, representing half of its 200‑person workforce, and another 100 positions abroad as the company trims its international distribution and boutique network. The change follows leadership under Benoît de Clerck, who has been at the helm since January 2024, and reflects a broader industry trend toward focusing on high‑end products to sustain profitability. While the transition aims to leverage Zenith’s heritage, expertise, and exceptional calibers, it also underscores the significant employment impact on the local community and the wider watchmaking sector.
Buying Time Analysis: The article highlights Zenith's strategic shift to ultra‑luxury watchmaking, putting 100 Swiss jobs and another 100 international positions at risk, underscoring the broader challenges facing the Swiss watch industry.
