4.3% increase in turnover for Junghans watches
Press release
Munich, 17 February 2017
Junghans – The German watch
Time in its new form
2016 was another successful year for Uhrenfabrik Junghans GmbH & Co. KG. Despite the negative trend in the sector the Schramberg-based company, with its workforce of 127, recorded growth of 4.3 percent compared to 2015, generating sales of 24.5 million euros and continuing the positive development of recent years. As a consequence, the venerable company has now been in the black for the eighth year in succession following its acquisition by the Steim family.
In international markets Junghans increased its turnover by 9 percent. Uhrenfabrik Junghans continues to be most strongly represented in its German home market, where around two thirds of its total sales were achieved.
The watch sector as a whole faced new challenges arising from the weak market in 2016. This also affected the Austrian partner of Junghans, which closed its sales office on 31/12/2016. In January 2017 Junghans took on the direct distribution of its products in Austria and is looking forward to good, direct co-operation with its trading partners. Junghans has relinquished a number of sales outlets in department stores in order to strengthen German specialist retail. These and other strategic measures are intended to further reinforce trust in the brand. The opening of the Junghans online shop achieves an internet presence in keeping with the brand. The reference to local dealers serves to support classic specialist retail.
In addition, long-term agreements have been concluded with suppliers of mechanical movements in Switzerland, guaranteeing a constant and secure supply for the coming years.
Outlook for 2017
As part of a longstanding, overarching digital strategy Junghans has now created a B2B platform for its retail partners. The dealers have the opportunity to place orders around the clock, as well as checking the availability of replacement parts and information about the brand. The digital service platform is a further innovation: every customer can use this at any time to check the status of a service order online.
Uhrenfabrik Junghans is presenting its new FORM collection at the INHORGENTA MUNICH 2017, from 18 to 21 February. This combines modern design with classic watchmaking. The Meister Driver series was launched successfully last year. With a design inspired by historical classic cars from the Steim car collection, it is set to be complemented with further variants. The extensive expertise in mechanical, radio-controlled and solar technology will continue to play a key role in brand orientation in the future.
The conversion of the Uhrenfabrik Junghans trademark building, the heritage-listed, 9-storey terrace structure, has commenced according to plan. Built in 1917/1918, in the 50s and 60s it was the focal point for the assembly of mechanical wristwatches. Atelier Brückner, one of the world's leading architects for the design of museums, is the acclaimed partner of Junghans in the project. Previous works of the architects include the German Watch Museum in Glashütte, the BWM Museum in Munich and international projects such as the Collection Pavilion of the Shanghai Auto Museum and the Parlamentarium in Brussels. The conversion work will see the creation of a museum in the historic building by 2018. This will display the over 150-year history of Uhrenfabrik Junghans, with a focus on Black Forest clocks and their history. An extensive exhibition of highly-complex musical clocks and nickelodeons present a particular highlight for visitors. Uhrenfabrik Junghans looks to the future with confidence – from the Black Forest into the world.