Bulova Corp., one of America’s best-known watch firms, has taken another big step toward re-establishing Bulova as an international watch brand. It is resuming distribution of its products in Europe, ending an 11-year licensing agreement with the EganaGoldpfeil Group, and has opened European headquarters in Fribourg, Switzerland.
Commenting on Bulova’s re-entry into the European market and its international operating strategy, company president and chief executive officer Herbert C. Hofmann noted, “The strength of our brand in the Americas has grown to the point where it is strategically necessary to maintain a uniform worldwide image.” Bulova also has a Canadian division and a Hong Kong office, and it set up a subsidiary in Mexico in 2001.
Bulova begins distribution in Europe on Jan. 1, 2003. It opened its Fribourg office in early September. Bulova will have its own sales force in some European countries and seeks arrangements with distributors in others.
Bulova will introduce a new collection of Swiss watches (in stainless steel, 18k gold, and other fine metals) for the European and international markets. The line, featuring more than 100 models, will debut in January, with some also being sold in the United States. Product development for all countries will be done at Bulova’s headquarters in New York City or at Fribourg.
Bulova and EganaGoldpfeil—a distributor of timepieces, jewelry, and leather and lifestyle products—say they will maintain a business relationship, with the possibility of future ventures.