The Porsche Design Group and Eterna AG Uhrenfabrik are terminating their license agreement for the development, production and sale of high-quality watches. To continue offering Porsche Design Timepieces, the luxury brand would reposition itself in the luxury watch category by the middle of 2014. “We truly valued our partnership with watch manufacturer Eterna.
The combination of traditional craftsmanship with our design expertise worked perfectly with great success”, says Juergen Gessler, chief executive of the Porsche Design Group. “We plan to continue this tradition as part of our realignment strategy, as well as presenting new, exclusive watches to our customers.”
“Following our successful partnership with Porsche Design, we will continue to devote our attention to developing and manufacturing high-quality, innovative timepieces under the Eterna brand,” said Samir Merdanovic, Vice President of Eterna AG Uhrenfabrik. “In the future, we will also focus in particular on doing justice to our reputation as a brand that combines innovation and heritage – we plan to continue the further development of the revolutionary
Eterna movement with the Spherodrive System, for instance.” Despite the termination of the agreement, Eterna will still guarantee all services related to the relevant Porsche Design watches.
Likewise, Porsche Design and Eterna will cooperate in various technical fields. Eterna has been known for its innovative techniques and the excellent quality of its watches. It developed the revolutionary maintenance-free Eterna Spherodrive system that is featured in a variety of watches. [source: Porsche]