Timex Group: A Name From Time and Kleenex to Versace Watches and Baupost
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Timex Group: A Name From Time and Kleenex to Versace Watches and Baupost

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In 1941 Norwegian businessman Thomas Olsen bought the Waterbury Clock Company and named its watches Timex, a blend of Time magazine and Kleenex. Kleenex then stood for everyday convenience found in nearly every home, and Olsen wanted a watch to be just as common, not a jewel kept in a box. Today the business is Timex Group BV, an American Dutch holding company based in Middlebury, Connecticut and Hoofddorp in the Netherlands, with subsidiaries that keep each brand legally and commercially separate.

Timex Group USA runs Timex and Nautica, Sequel AG handles Guess and GC, Vertime SA makes Versace and Versus watches, and Timex Group Luxury Watches covers Salvatore Ferragamo and Philipp Plein. Movements and technology come from hubs in Germany, Japan and the United States, while manufacturing spreads across China, France, Hong Kong, India, the Philippines and Switzerland. In 2020 the Boston investment firm Baupost Group acquired the company, with Fred Olsen and Company keeping a minority stake.

  • The Timex name was meant to signal mass adoption, not disposability.
  • Brands share purchasing power, shipping rates and supply chains but not parts bins or finishes.
  • Timex bought the Milan studio of industrial designer Giorgio Galli in 2007.
  • The Giorgio Galli Design Lab sets the look for both basic Timex lines and Versace and Ferragamo pieces.
  • Fred Olsen and Company also runs cruise lines and tankers and invests in wind farms.

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