Dramatically things happening at Eterna and Porsche Design (25.10.13: Updated with a very interesting comment from Sebastian)
According to information I received from my colleague and friend Gisbert Brunner Porsche Design is no longer part of Eterna and Antonio Calce no longer the CEO.
You all know that the China Haidian Group bought the old iconic watchmaker Eterna from the family Porsche. Since there was an existing cooperation in-between Eterna and Porscge Design this cooperation was supposed to continue also with new Chinese owners.
During Baselworld this year the China Haidian Group bought Corum.
If you followed my blog during Baselworld you of course know that already. If not, please click HERE.
Antonio Calce, the CEO of Corum, thereafter also became the CEO of Eterna.
Now Antonio Calce is no longer the CEO of Eterna (I don´t know if he is still in charge of Corum at this point) and carmaker Porsche stopped the cooperation with Haidian by buying out the brand Porsche Design form Eterna. As mentioned there was an active contract still lasting for the next seven or eight years and I assume Porsche paid out Haidian to get out of the contract immediately.
What does the future of Eterna now look like? It must be feared that it´s GAME OVER.
For Porsche this was the only logical step to prevent the prestigious Porsche Design brand from further damage. And the very positive aspect of all this is that Patrick Kury, the former head of R & D and then later the CEO of Eterna who did all the movement developments for the watchmaker, could now probably become the new CEO of Porsche Design watches.
With all the knowledge Patrick Kury has as a trained and experienced master watchmaker he could bring a lot of promising developments to Porsche Design and it´s watch department. Hopefully the people from Porsche and Patrick will find a way to cooperate!
My summary is the following: I think we will have to forget Eterna and we will now see a much brighter future for the Porsche Design watches.
For those of you who read German please check also the coverage of that story at the blog of my friend Gisbert Brunner: Click HERE to link to his blog.