In 1995, watch brand Porsche Design bought renowned movement company Eterna. In 1999, Eterna produced a range of watches marketed under the Porsche Design label. Porsche Design sold Eterna to International Volant Ltd, a subsidiary of China Haidian on 30 June 2012.
As of today, Porsche Design and Eterna have officially terminated their licensing agreement for the development, production and sale of watches.
Porsche Design have decided to reposition themselves as a luxury watch brand by the middle of this year for 2014.
According to Porsche Design Group CEO, Juergen Gessler, “We truly valued our partnership with watch manufacturer Eterna. The combination of traditional craftsmanship with our design expertise worked perfectly with great success. We plan to continue this tradition as part of our realignment strategy, as well as presenting new, exclusive watches to our customers. “
In a statement from Eterna Vice President, Samir Merdanovic, “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. 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. “
Servicing of all relevant Porsche Design watches will be covered by Eterna and both companies are scheduled to work together on numerous technical fields in the future.