Another company to take advantage of the current economic crisis in the United States is the Italian watch and jewelry company, Binda Group. Binda, who’s stable includes Breil, D&G among others has purchased Advance Watch Co. which is also known publicly as Geneva Watch Group and the license holder for Kenneth Cole, BCBG and others. This deal was made possible because GWG had sold itself to the US private equity fund Heritage Partners who decided it was time to let it go and should allow Binda to firmly establish itself in the American market.

Binda group was established in 1906 and has 3 main business units: watches, jewelry and leather. It produces and distributes its own brands, such as Breil Milano, Breil Tribe, Wyler Geneve and Details, and brands under license such as D&G Time and Jewels, Moschino CheapandChic Watches and Jewels, Ducati and Ducati Corse Watches. It also distributes the brands Seiko, Lorus, Paris Hilton watches in Italy and Glam Rock in Italy, USA and Canada. It is currently headed by the brothers Marcello and Simone Binda, the grandsons of the founders.

On the other hand, Geneva Watch Group has two business units – Status and Advance. Status produces and distributes licensed brands (Kenneth Cole New York, Kenneth Cole Reaction, Tommy Bahama, Betsey Johnson, BCBG Maxazria, Ted Baker London, Mexx and Speedo) and its own brand Freestyle. Advance instead serves major retailing chains in North America.

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Geneva Watch Group
Binda Group
Heritage Partners Inc