China Haidian Buys Swiss Watchmaker Corum for $90.9 Million

Luxury watchmaker Corum has been bought out by China Haidian Holdings Limited. The Swiss watchmaker announced this week that China Haidian has become the sole owner of the watch brand, which is based in La Chaux-de-Fonds. China Haidian already owns two of the four most famous Chinese watch brands, Ebohr and Rossini.

According to their press release, this strategic agreement will allow Corum to fulfill their long term vision for continued development and growth. Meanwhile, the deal will give China Haidian an anchor position in the Swiss haute horlogerie industry. The result will reportedly see new development prospects for Corum and strengthened positioning of the brand worldwide.

Mr. Hon Kwok Lung, Chairman of the Executive Committee of China Haidian, said: “I am very pleased with this acquisition and I firmly believe in the potential development of Corum. The brand has done a remarkable job under the leadership of Mr. Calce and was able to reposition itself as one of the major players in Haute Horlogerie. I will enjoy working with Antonio Calce, whom I trust to ensure effective management of the company.”

Meanwhile Antonio Calce, the CEO of Corum, added: “I was very touched by the human qualities of Mr. Hon. We share the same personal and professional values. He immediately recognized the potential of a niche brand like Corum. He is a man committed to the preservation and development of the Swiss watch industry, craftsmanship and know-how we have in the Region. We have forged strong links and I am confident that together we can continue the success of Corum. I am convinced that China Haidian is the partner of choice for Corum.”

China Haidian takes control of Corum from the Severin Wunderman Group, whose President stated he has complete trust and confidence that Mr Hon and Mr Calce will make Corum one of the elite luxury brands in the Swiss watchmaking industry. Although details of the deal were not published, AFP reports the sale is worth 86 million Swiss francs (US$90.9 million).

Pictured above is the Corum manufacture in La Chaux-de-Fonds. Photo credit: © Corum.

Adrienne Faurote

Editor in Chief · Haute Time

As a former New Yorker, now a “Miamian,” Adrienne Faurote joined Haute Living in August of 2021. She currently serves as the Haute Media Group Editor-in-Chief, overseeing all editorial platforms within the Haute Media Group while also maintaining her role as Fashion, Jewelry & Watch Director. Prior to her position at Haute Living, Faurote was the Market Editor at Marie Claire Magazine US, amassing over ten years in the industry, becoming an authoritative voice in all things fashion, jewelry, and watches.