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Vorwerk Ventures invests in watchmaker STOWA! |
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published by Netcoo Editorial Office
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Tuesday, 24 November 2009 |
 Vorwerk Direct Selling Ventures, the corporate venture capital entity of the Vorwerk Group, is financing the future growth of Black Forest watchmaker, STOWA GmbH & Co. KG. STOWA GmbH & Co. KG produces high-quality mechanical wrist watches and distributes them worldwide via online direct sales. The company carries two brands under the names of “STOWA” and “Jörg Schauer”. The STOWA brand dates back to 1927. The “Jörg Schauer” brand offers limited edition watches that combine sophisticated technical solutions with exceptional design. Production of “Jörg Schauer” watches is strictly limited to 500 watches a year, which means all collectors are assured of having something special on their wrist. STOWA and Jörg Schauer watches are available worldwide. In 2009 about 3000 such timepieces will be made.
Prices range from around €350 for STOWA watches to the high four-figure bracket for Jörg Schauer models. STOWA/Jörg Schauer has been the recipient of numerous international awards like the “Goldene Unruh” or “Watch of the year, Japan”.
Despite the economic crisis, the company continues to enjoy very good growth rates. The injection of additional capital will allow the company to expand its market position and increase the pace of its international growth even further. The parties involved have agreed to keep the details of the investment transaction confidential.
“The idea that a manufacturer of high-quality mechanical watches sells direct to the consumer appeals to us. The value-for-money benefit resulting from direct sales is unique and enables an extraordinary level of manufacturing depth, limited editions and a high degree of perfection in the making of these wristwatches. The feedback from customers is impressive. The dedication of Jörg Schauer to traditional master craftsmanship and his sound business sense were very compelling reasons for us to become involved”, explained Norbert Muschong and Dirk Meurer, Managing Directors of Vorwerk Ventures. “We are very much looking forward to this new partnership”.
“Even at the negotiating stage, I found Vorwerk Ventures to be a business partner offering valuable advice and constructive suggestions, commented Jörg Schauer, founder, CEO and major shareholder of STOWA. “I am proud of having found a partner in Vorwerk Ventures that will support our future growth with its invaluable expertise and business network”.
STOWA watches are primarily sold via its own online shop and direct from the manufacturer. The company holds live shopping promotions for limited editions and produces special lines for such events. In very few cases, traditional relationships exist with selected licence holders in certain national markets.
Vorwerk Ventures was advised on the transaction by Esch & Kramer RAe and Rinke Treuhand. |
