In a major shift within the watch industry this week, Swiss luxury brand De Bethune announced a leadership change, while Chrono24, the world’s largest online marketplace for pre-owned watches, revealed a fresh look and new marketing message under its new CEO.
Pierre Jacques, who has served as De Bethune’s CEO since 2011, is stepping down effective this summer. The company shared the news on LinkedIn, stating that Jacques will transition to the role of Honorary President. This move aims for a smooth leadership handover. De Bethune was founded in 2002 by master watchmaker Denis Flageollet, who remains the creative and technical leader of the brand. Under Jacques’ tenure, the company earned praise for its innovative watches but struggled with financial stability. Jacques guided the brand through several ownership changes, including the 2021 acquisition of a majority stake by Watchbox—now called The 1916 Company. Notable investors include activist Bill Ackman, who owns about 5% of De Bethune. Justin Reis, The 1916 Company’s executive chairman, continues in his role overseeing De Bethune. Jacques plans to focus on new personal and professional projects after stepping down.
At the same time, Chrono24, based in Karlsruhe, Germany, launched a rebranding campaign featuring a new logo and the tagline “Time is Our Thing.” This refresh aims to attract new customers, especially in the growing U.S. market, according to CEO Carsten Keller, who took over the company earlier this year. Chrono24 had previously considered an IPO but shelved those plans due to a drop in secondary market watch prices after a pandemic-driven surge. In April, the company appointed a new CFO, a former executive from Bike24, a German online retailer that went public in 2021. This rebranding effort signals Chrono24’s strategy to strengthen its market position amid changing industry conditions.
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