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Raymond Weil forms U.S. distribution company

October 29, 2009

New York--Swiss watchmaker Raymond Weil Geneve has announced the establishment of its own distribution company in the United States, RW USA Corp.

The company's formation marks a transition from the brand's previous U.S. leadership by Benny Shabtai and the Seville Watch Corp.

"Historically, the U.S. was our first market worldwide," Raymond Weil Geneve President and Chief Executive Officer Olivier Bernheim said in a media release. "It appeared to us that the time had come for more personal and family commitment. Therefore, RW USA Corp. was born to achieve new objectives regarding the brand's development and sustainable growth in the U.S. In addition, it is the necessary and natural evolution for a company whose motto is 'Independence is a state of mind.' The approach of both the company and the people behind its success pays tribute to the patrimony and heritage of a family whose leitmotif is independence."

Bernheim, the son-in-law of the company's founder and namesake, will head RW USA Corp. along with his two sons, Elie and Pierre Bernheim. The new company will remain at the brand's U.S. headquarters on Madison Avenue in New York City, and sales representatives from Seville Watch Corp. have been offered new positions at RW USA Corp., the company said.

"We wish to thank Benny for his help establishing and developing Raymond Weil in the United States and his commitment to our brand for many years," Bernheim said in the release.

In the short term, RW USA Corp. will be active in working with the brand's key partners to offer the best selection of products for the upcoming holiday season, along with appropriate marketing support. Long term, the company's goal regarding the operational change is to build a stronger U.S. business, one that is consistent with the brand's record of growth in other markets.

The company's plan for achieving the goal will include creating an even more appealing image to reinforce the character of Raymond Weil Geneve, developing new models and meeting higher quality standards that reflect the brand's evolution and creativity, implementing a more selective distribution policy aimed at increasing the brand's presence and market visibility, and offering refined luxury timepieces at attractive prices.
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Raymond Weil forms U.S. distribution company

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