Zenit watches: Geneva shop will be closed

9 years ago - Published in Finance, Fundamental Analysis

The based-company Neuchâtel watchmaking Zenith , the historic luxury brand, aims to close three of its eleven stores worldwide, including the only one in Switzerland, in Geneva. The store will cease next week, indicated the manager confirming a report published today by Le Temps. The three employees affected by the closure of the Geneva shop have found a work place in the group, as reported.

By 2017 two more closures will occur; at the time the company has not yet announced because its employees have not been informed. The restructuring will not touch any case Japan, Hong Kong and China.

Earlier this year, the company had announced the abolition of 30-35 jobs at the headquarters of Le Locle (NE). Currently the Swiss brand produces between 35 thousand and 40 thousand pieces per year while the price varies between 5,000 and 15,000 Swiss francs.