French watch brand Pequignet has announced its plans to rebuild the brand after it was announced that it had gone into receivership in France earlier this year.
The brand has welcomed a new financial partner, M. Philippe Spurch.
Pequignet’s founder Didier Leibundgut had his continuation plan for the brand validated by the French commercial court in Besançon at the end of July
A release from the brand about its renewed push in the market was dubbed “a happy ending to the difficulties Pequignet Manufacture encountered during the last months”.
Spruch is the founder of the IT manufacturer LaCie and is said to be a lover of fine watchmaking and ore specifically French haute horology.
Pequignet said: “It is with a shared vision about Pequignet
Manufacture that Mr Spruch joins the Leibundgut family and the whole team of the manufacture in order for the brand to expand and grow, while remaining an independent manufacture in the
world of luxury watchmaking”.
Guy Allen, the former UK distributor and brand manager of Pequignet, has now moved to jewellery brand Chamilia. In May he told WatchPro: “It’s difficult because in the UK the brand has been profitable and has grown about seven times over in the past five years.
“The manufactory part of the business cost a lot of money to do. It was a reaction to the ETA situation but since October last year the company has struggled to find further financial backing for the manufactory.”