Belgian watch company Ice-Watch is for sale, although owner Jean-Pierre Lutgen is currently looking for a minority shareholder, preferably someone from the industry.
Open gaze toward the future
“We are a single-brand company, which is not an easy thing in our industry, especially as it is in global turmoil. I think it would be a good idea to collaborate with a partner”, Lutgen explains his decision to De Tijd. The partner can have either a minority or a majority stake in the Walloon enterprise.
It is not the first time Lutgen has looked for a partner, because in 2014, he enlisted business bank Rotchschild to find someone, but to no avail. Degroof Petercam will now try to find someone.
Ice-Watch, known for its colourful models, sold 1.35 million watches worldwide last year, which led to a 40 million euro turnover and a 9 million euro operational profit.
