This article will address the topic of Timex Group, which has gained relevance in recent years due to its impact on various aspects of society. From technological advances to changes in work dynamics, Timex Group has generated great interest and debate among experts and the general population. Along these lines, the influence of Timex Group in different contexts will be analyzed, as well as its short- and long-term implications. Future perspectives on Timex Group and how it will continue to affect our environment will also be explored.
Company type | Privately Held |
---|---|
Industry | Watch manufacturing, Luxury Goods |
Headquarters | Middlebury, Connecticut, U.S.; Hoofddorp, Netherlands[citation needed] |
Number of employees | 5,000+ |
Website | timexgroup |
Timex Group B.V., or Timex Group, is an American - Dutch holding company headquartered in Hoofddorp, the Netherlands and Middlebury, Connecticut.[citation needed] It is the corporate parent of several global watchmaking companies including Timex Group USA, Inc., TMX Philippines, Inc., and Timex Group India Ltd.
The Timex Group itself was privately held by the Norwegian holding group Fred. Olsen & Co. The private equity company Baupost Group purchased majority control in 2020. The private company releases no data on its sales or production. Businesses and exclusive worldwide licenses include the Timex Business Unit (Timex, Timex Ironman, Opex, Nautica), Timex Group Luxury Watches (Valentino, Salvatore Ferragamo), Sequel (Guess, Gc), Vertime (Versace, Versus) and Giorgio Galli Design Lab.
Timex Group B.V.'s products are manufactured in the Philippines, Hong Kong, China, France, India and Switzerland, often based on technology that continues to be developed in the United States and in Germany.[citation needed] The group has operations in a number of countries in Europe, the Americas, Asia and Oceania.
Shortly after purchasing the Waterbury Clock Company in 1941, founder Thomas Olsen renamed the company Timex, as a portmanteau of Time (referring to Time magazine) and Kleenex.
Timex Business Unit, A division of Timex Group USA, Inc.
Sequel AG
Vertime SA
Timex Group Luxury Watches
Giorgio Galli Design Lab (Design studio, acquired 2007) Galli designs watches for:
A few years later Thomas Olsen would rechristen the company Timex. He hatched the iconic name from an unusual confluence of sources. Recalls Fred: "My father always loved to noodle with words. He liked to read Time magazine, and he used a lot of Kleenex, so he put the two names together and got Timex.