No good news for Eterna

I just got the information that CEO Patrick Kury resigned as CEO of Eterna. In my eyes he was THE driving force behind Eterna in the last years. 

With him also David Vallata, the  Vice-president of Eterna, leaves the company. Now the Chinese owners will have to see how they can rebuild Eterna. All the knowledge and all the recent developments of the new movements and watches came through Patrick Kury. I in brief I just heard that the Chinese owners wanted to see much more return on investment. But if one knows from where Eterna started, this was just impossible in such a short time period. If you want to be successful, with serious mechanical watches within the Swiss watch industry, you need a lot of patience, no one ever could just make quick money here …

Patrick Kury, he is a master watchmaker, did an excellent job, but his owners obviously did not believe in his long-term strategy. What a shame!

I will see what I can find out, to give you more information a.s.a.p.

This is Patrick Kury (the man standing left) and these are some of the projects he was responsible for and he developed for Eterna in the recent years …

 

1_CEO_Patrick Kury_Atelier Eterna

2_Eterna_Tangaroa

3_Eterna_Tangaroa

4_Eterna_Adventic

5_Eterna_Madison

6_Eterna_Kaliber_3510

6a_Eterna_Kaliber_3510

7_Eterna_Madison

8_Eterna_Calibre_3843_hinten

8a_Eterna_Calibre_3843_vorne

9_Porsche Design_Indicator

10_Porsche Design Indicator_Kaliber_6036

 

Calibre39_Auto_eclate_Press Calibre39_Auto_Press Calibre39_Base_Press Calibre39_Chrono_Press

 

 

TAGS: , ,

12 Comments

  1. Orca says:

    Eterna watches are well made. The Madison line are exceptionally advanced and beautiful. Pricing is a problem however. The Madison 8-days has to compete with the Jaeger-LeCoultre 8-days Reverso, the IWC 8-days watches, and the Panerai 8 or 10-days watches. For the same amount of money, the collectors simply would not put the Madison on the top of the list because the resale value would be less than the others. The nationality of the owners are largely irrelevant in today’s multinational incorporated world. The owners often only provides strategic directions. The quality of, and technical innovations in the watches are all that counts. I do also hope that the owners realize what an illustrious, historic company they have in their hands and treat it as such.

  2. Ron says:

    Amazing to see a good brand like this hit rock bottom. Even more sad that the Chinese using American dollars are attempting to buy up good Swiss companies.

    It would better if they simply out of business then to have their wonderful name be tarnished by the Communist Chinese establishment.

    Would anyone buy a Rolex if it was owned by the Chinese? I simply would not. When I earn my money, I want to buy something with a reputation like Rolex or Omega or Patek, not something controlled by a third-party, especially the Chinese.

  3. Peter m Langerud Andreassen says:

    Having followed the ups and downs for Eterna since I was a kid in the 70`s,I find it sad to see the state they`re in at the moment. I believe that Mr. Kury and his team were really on the way to get Eterna back on track after the disappointing “Porsche-era”.If the rumours that the Chinese owners are strapped for cash are true,I sincerely hope Eterna will find a good and lasting new ownership. Being a 3rd generation watchmaker,it would physically hurt if Eterna should slide in to obscurity :-(

  4. Stefano Mercer says:

    Alexander,Thanks for the informative article.
    I am a big fan of Eterna time pieces.I have both new versions and classics back into the 1940′s.Eterna is creative and innovative,but still maintaining the classic look and good value since 1856. True,you will not see them on every wrist,but this is what makes them unique in a sea commonness. I frequently receive compliments about the Eterna I am wearing,not so with others.
    As far as Mr.Kury resigning from the firm as CEO,perhaps he was tired with the Chinese way of doing business.They are after all communists and have little or no respect for the way business is done in other countries.
    Mr.Kury’s efforts as CTO will long be remembered. Having,I believe 5 patents to his credit for advances or upgrades in movements. I wish the new management good luck,God only knows,they will need it.
    P.S.
    Regarding Frederique Constant, I wouldn’t be caught dead wearing one of those watches.

    • The question now is: Will the Chinese allow someone to buy the patents and so let someone get in possession of all the developments. To industrialise Mr. Kury’s movements someone will still need to invest quite a lot of money. I heard the Chinese simply do not have that money actually and they now want to produce simple Eterna’s with bought movements from where ever. But there are investors ready to take over what Mr. Kury started and to accomplish the project with him. I hope this will be the future of at least Mr. Kury’s developments ….

  5. P. Sutter says:

    Well, service and deliery were very bad and I am talking about stockwatches like the Kontiki. No black dials, only white one does not have to be a rocket scientist!!!!
    No advertising, high prices another problem. Customers today are presold through advertising, but nothing. Frédéric Constant sells on value and price, this way he needs to invest less in advertising.
    Making watchmovements by CNC machines does not cut the mustard, no production and dismal quantities.

    • You are always comparing Frederique Constant … I like the brand, I like what Peter Stas does, but you ca not compare the brands and their approach to the market. Eterna never meant to be a low cost watch manufacturer …

      Eterna made a lot if mistakes, but I do repeat Patrick Kury was on the right way. I doubt Eterna has any future now …

  6. S,Hüter says:

    I don’t know where Patrick Kury a good job has made.
    At least not at Eterna.
    Watches that nobody wanted to buy.
    And prices that no one of these watches was willing to pay.
    To do this the worst service of all Swiss brands.

    A big name in the Swiss watch industry goes down.
    That makes me very sad.

    • Sorry my friend I do have to disagree with you. Eterna was on the right way. The brand just needed more time. If you did not like the watches you should have probably taken a second look. Anyhow I doubt that we will see any Eterna in-house movements in the future. The Chinese now will show the way …

      • S,Hüter says:

        What is your opinion?
        Which model Eterna sold really well over the last five years?
        The model Soleure?
        Yes, but only at low price.
        The model Vaughan? (a very nice Watch)
        No, the price of this watch are far too high.
        Eterna has very good caliber and good new technical innovations?
        Yes.
        This will not help.
        If you want long are allowed, then you have to build watches how the customer also wants to buy them. (see model Advantic which the Eterna ugliest Watch has ever built).
        And at prices which the customer is willing to pay.
        Eterna is still a good name, but you have to learn that we must start completely new.
        Eterna needs now two or three new beautiful watches with manufacture calibre at good prices.
        Frédérique Constant is a good example.
        Manufactory calibre for 2000,-euro.
        Many people would buy it immediately.
        And if then still Eterna stands on this watch, then people will love it.
        If it charged prices like Rolex, you will be not two years.
        But you are right. the Chinese now determine what happens in the future.
        I think but the Chinese really not understand what they have done wrong.
        And that is the problem.

        • All this is very much your personal opinion… It would be interesting to read other comments about Eterna here. In brief: I disagree with you. Design and style are a question of taste. You don’t like the watches, I instead do. Technically the developments Kury made would be just the beginning. In my opinion his movement-platform strategy is a good one …

          • mauricio lustgarten says:

            I think eterna watches are very well made, you have a good feeling when you use them. They have to rely more on publicity about their acomplishments. what i am no so sure is about the chinese owners.

Leave a Comment