RJ Watches has filed for bankruptcy.
The Swiss watchmaker announced today that its financial backer, Alliance Investment Group SA, has decided not to continue supporting the business, leaving its board of directors with no choice than to shutter the business.
“Marco Tedeschi, CEO and the entire RJ team deeply regret this decision, which cuts 33 jobs and ends a great journey,” the company said in a statement today.
RJ was first launched under the name of Romain Jerome in 2004
It changed its name to RJ in 2018 after appointing Mr Tedeschi as CEO.
Mr Tedeschi, was only 33-years-old at the time, and had previously worked for 10 years at Hublot.
He promised to spark a new era for RJ with a new manufacture he named the RJ Studio and a plan to set a new creative direction and modernization of the brand’s DNA.
W Hamond in Leeds and Browns in London stocked the brand, but it failed to gain sufficient momentum ahead of today’s decision to close.
I’m not surprised just seen the retail price of that monstrosity tetris watch they produced, looks like something you’d win in a fairground.
Sadly the watch industry has been witnessing a profound change in consumer needs. Many novel brands are affected by this. Interestingly, just today while sitting in an elite C level audience, I would observe the watches being worn by the speakers and more than half of them wore the i-watch in one form / colour or the other. Many didnt even need to check their cell phones as their messages would quietly pop up on the watch screens without them having to flash their phones to read them….hence needs are changing….and so should a watch makers strategy. Even though i havent owned an RJ watch ever, I respect every brand for the values, vision and legacy it carries. Wishing them the best for what the future holds.
Weren’t enough Romainers
It is just the beginnig