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HOROLOGICAL NEWS
BREMONT ADDS NEW INVESTMENT
U . S . -BASED INVESTOR AND HEDGE-FUND MANAGER Bill Ackman and his affiliate have purchased a substantial minority interest in British watchmaker Bremont , which will also see increased investment from Hellcat LP , Bremont ’ s long-standing lead investor . Total new funding equals approximately $ 59 million .
“ I have long admired Bremont ’ s handsomelydesigned , technologically-sophisticated and rugged watches , and the brand ’ s storied aviation and military history ,” says Ackman . “ The UK ’ s rich horological past laid the foundation for Nick and Giles to found and grow Bremont into one of the watch industry ’ s preeminent brands and engineering companies .”
“ Nick and I are thrilled that Bill has moved from collector to investor , joining our longstanding shareholder , Hellcat , as partners in Bremont , adds Giles English , Bremont Co-Founder . “ This new capital will enable us to invest in marketing , distribution , and talent . This is not just a boost for Bremont , but also for Britain .”
The closing of this new investment comes eighteen months after Bremont opened its 35,000 square foot state-of-the-art manufacturing & technology centre , The Wing , in Henley , UK . This new facility has enabled Bremont to become the first business in over fifty years to manufacture mechanical movements at scale on British shores . The opening of The Wing , along with a series of new global boutique openings and increased demand across a new range of watches , drove record annual revenue growth of 28 % in Bremont ’ s most recent financial year , according to the brand .
The Wing front
14 | INTERNATIONAL WRISTWATCH | SPRING 2023