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Fendi acquires its Swiss watch partner Taramax

Fendi acquires its Swiss watch partner Taramax

Luxury fashion label set to focus on timepieces

Image: WWD

Fendi has bought the remaining stake in its watch licensee Taramax SA, taking over the production of its timepieces

Revealed at this month's watch and jewellery fair, Baselworld, Fendi has now acquired its watch partner Taramax. Fendi's president and CEO, Pietro Beccari, told a source that the decision came from the desire to "change the brand's course," as the timepiece category can largely contribute to the group's product range and revenue.

As a result, Fendi has created a specific division, Fendi Timepieces, which will be headed by Dominic Oliveri.

The new Fendi Timepieces division made its debut at the annual accessories event with an eye-catching stand designed by Antonio Monfreda and Patrick Kinmonth, which featured concrete walls coated with precious minerals.

fendi buys Taramax

The first step in the brand's new strategy will be to launch the new My Way watch, in parallel with the relaunch of the existing Crazy Carats, Selleria and Classico ranges.

"The core message is alignment to the DNA of the brand, and alignment to the sophistication that we are trying to give with the other lines," Beccari said to a source (who will remain a consultant for at least one year).

The new advertising images will also feature the new tag line, 'Punctually unpredictable', and will support the re-launch.