Timex Group Explained

Timex Group B.V.
Type:	Privately Held
Location:	Middlebury, Connecticut, U.S.; Hoofddorp, Netherlands
Industry:	Watch manufacturing, Luxury Goods
Num Employees:	5,000+

Timex Group B.V., or Timex Group, is an American - Dutch holding company headquartered in Hoofddorp, the Netherlands and Middlebury, Connecticut. It is the corporate parent of several global watchmaking companies including Timex Group USA, Inc.,^[1] TMX Philippines, Inc., and Timex Group India Ltd.

Corporate structure

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.^[2] 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.^[3]

Production

Timex Group B.V.'s products are manufactured in the China, France, Hong Kong, India, Philippines and Switzerland, often based on technology that continues to be developed in Germany and the United States. The group has operations in a number of countries in Europe, the Americas, Asia and Oceania.

Name

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.^[4]

Companies and brands

Timex Business Unit, A division of Timex Group USA, Inc.

• Timex
• Opex
• Nautica
• TX Watch Company (2006-2011)

Sequel AG

• Guess
• Gc

Vertime SA

• Versace
• Versus

Timex Group Luxury Watches

• Salvatore Ferragamo Timepieces
• Valentino Timeless - no longer licensed
• Vincent Bérard (2006-2010)

Giorgio Galli Design Lab (Design studio, acquired 2007)Galli designs watches for:

• Timex
• Nautica
• Versace
• Versus
• Salvatore Ferragamo

External links

• • Timex brand website

Notes and References

1. Web site: '...and keeps on ticking' . Staff – JCK Online . 2005-01-01 . JCKonline . 2010-05-06 . dead . https://web.archive.org/web/20100521143521/http://www.jckonline.com/article/284700-_and_keeps_on_ticking_.php . 2010-05-21 .
2. Web site: Baupost buys majority stake in Timex . Alternative Watches . 18 October 2023.
3. Buchanan . Norma . 2007 . Inside the New Timex . WatchTime . Ebner Publishing International . October 2007 . 112–119 .
4. Web site: The crazy, true-life adventures of Norway's most radical billionaire . . Shawn Tully . Shawn Tully . March 7, 2015 . 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. .