Corun & Eterna shuffles - Eterna to shut down

Corun & Eterna shuffles - Eterna to shut down

Postby koimaster » May 21st 2017, 9:57am

.
Today I found out through Gregory Pons (BUSINESS MONTRES & JOAILLERIE / Médiafacture d'infos horlogères depuis 2004) that the Chinese group CityChamp that bought Corum and then Eterna, has decided to end the hemorrhage (over 200 million francs of loss) by taking actions to end all operations at Eterna and firing the newly appointed CEO of Corum Davide Traxler in the most disrespectful way possible.
So most likely Eterna will find a place in the cemetery of all the watch brands (the land is starting to be too small to accommodate all these tombs) and Corum will grasp air until another unfortunate Swiss guy will be appointed CEO assuming the brand will get enough air until then.
Grim.
I never believed in the Chinese solution for Swiss watch brands. And I'm sad to see that I was right.


Above quote from Sophy Rindler @ FB
Image

1946-2006

“Your heart was warm and happy

With the lilt of Irish laughter

Every day and in every way

Now forever and ever after."
User avatar
koimaster
Administrator/Founder
 
Posts: 31513
Joined: December 16th 2009, 11:00pm
Location: Oregon

Re: Corun & Eterna shuffles - Eterna to shut down

Postby eddiea » May 21st 2017, 10:16am

Not sure if that's true or not but, Eterna's lack of design imagination and off the shelves movements are a big disappointment to me ....
Devaluation in the pre-loved market is dismal, just a disaster
“Of all the gin joints, in all the towns, in all the world, she walks into mine…”
Image
User avatar
eddiea
Founding Member & Master of Time
 
Posts: 10605
Joined: December 25th 2009, 11:00pm
Location: Nikki Beach, Miami (GMT -5)

Re: Corun & Eterna shuffles - Eterna to shut down

Postby tiktok » May 21st 2017, 10:39am

That last release from Eterna with the spongy black dial was like a tombstone for the Eterna brand. I wonder what happens to the movements, a number of indie brands have made use of it in recent years.
User avatar
tiktok
Senior Member & WIS
 
Posts: 3098
Joined: March 20th 2015, 7:18pm

Re: Corun & Eterna shuffles - Eterna to shut down

Postby biglove » May 21st 2017, 12:12pm

eddiea wrote:Not sure if that's true or not but, Eterna's lack of design imagination and off the shelves movements are a big disappointment to me ....
Devaluation in the pre-loved market is dismal, just a disaster



Yep. Worst bath I have ever taken on a watch was the Kon-Tiki. Abysmal resale value.
"Women and cats will do as they please, and men and dogs should relax and get used to the idea."-Robert A. Heinlein
Image
User avatar
biglove
Watchlord WIS
 
Posts: 9600
Joined: October 27th 2013, 9:18am
Location: Deep South

Re: Corun & Eterna shuffles - Eterna to shut down

Postby Thunder1 » May 21st 2017, 2:05pm

Yep...the Soleure chorno I picked up brand new last year only put me out $800.00..what a shame...
Last edited by Thunder1 on May 22nd 2017, 8:33am, edited 1 time in total.
Image
Ebels are a lot like women that lack a low cut dress that zips up the side...neither get the love that they deserve...
User avatar
Thunder1
Senior Member & WIS
 
Posts: 2791
Joined: June 22nd 2015, 4:55am
Location: Texas Hill Country near Austin

Re: Corun & Eterna shuffles - Eterna to shut down

Postby tiktok » May 21st 2017, 2:12pm

One starts to wonder how great brands like Stowa, Tutima, Damasko, Fortis, Sinn will weather the storm.
User avatar
tiktok
Senior Member & WIS
 
Posts: 3098
Joined: March 20th 2015, 7:18pm

Re: Corun & Eterna shuffles - Eterna to shut down

Postby TemerityB » May 21st 2017, 2:18pm

As an Eterna owner, now I feel how the Glycine fans felt just a few months ago.

I think the last line of that original post speaks volumes.
"Funny how some things that start spontaneously end that way." - Neil Young
User avatar
TemerityB
ASSHAT
 
Posts: 12593
Joined: June 12th 2010, 10:00pm
Location: New York City

Re: Corun & Eterna shuffles - Eterna to shut down

Postby tiktok » May 21st 2017, 3:09pm

But look at citizen, I know they are not Chinese but I think they will integrate their parts quite magically.
User avatar
tiktok
Senior Member & WIS
 
Posts: 3098
Joined: March 20th 2015, 7:18pm

Re: Corun & Eterna shuffles - Eterna to shut down

Postby MKTheVintageBloke » May 21st 2017, 3:38pm

If it only was Corum that would have been closed down, I wouldn't mind, as I never liked them anyway... The last nice Corum watches were made...ummm... Fuck me, in the 1960s, I think.
But Eterna? I can only hope, that whoever buys what's left of it- and I believe that it won't be long before someone finds it an opportunity to "necromance" the brand- will bring it back properly.

Frankly, I don't think that Eterna lacked the movements or the designs. They had some really good stuff lately, and as to the movements- the 2892 aka SW-300 started its life as an in-house Eterna movement, the 2824 was used by them even back in the day, and was designed while Eterna still owned ETA. The Valjoux 7750, well... For chronographs, Eterna used mostly Valjoux anyway, even back in the 1930s and 1940s. Only it's a bit ironic, that they had to buy their own design (2892) from another supplier (Sellita).

Nevertheless, the entire line-up of in-house cal.39-powered movements had potential, and one could think that becoming a generic movement supplier once again will bring back the old Eterna. I just hope that whoever will it be, it won't be Eyal the Barbarian.

I think that Eterna didn't fuck up in terms of the watches, or even the movements alone. I think that where they did genuinely fuck up, was marketing. These days, most brands advertise on the "watch media" sites, they have a substantial presence in the social media, etc. And Eterna? No-fucking-thing. Nothing. Not a Facebook page, not an Instagram account. I don't know what pillock run their marketing department, but obviously someone without the brains, probably not even a pair of bollocks. One can afford such a strategy of "minimalist marketing" (not sure if it can be called this way, but...) when the brand has a considerable and faithful clientele, not when it's only occasionally noticed by the enthusiasts (in this case, by the WIS).

My very favourite watch is an Eterna- a 1952 ref. 106 BDT, cal. 520U. it gets more wrist time than all my other watches combined. That said, it hurts to see one of my favourite brands turn into shit just like that.
An appeaser is one who feeds a crocodile - hoping it will eat him last.
Winston Churchill

Yeah, well, you know, that's just, like, your opinion, man.
The Dude

Oh, cock!
James May
User avatar
MKTheVintageBloke
Master of Time
 
Posts: 633
Joined: December 7th 2016, 2:47pm

Re: Corun & Eterna shuffles - Eterna to shut down

Postby jaw » May 21st 2017, 5:29pm

:( Bummer

I figured all they wanted was the ETA IP.
Grab 'em, bleed 'em, and kill 'em - Happens all the time.
Still, glad I have a couple.
User avatar
jaw
Watchlord WIS
 
Posts: 5028
Joined: July 22nd 2010, 10:00pm

Re: Corun & Eterna shuffles - Eterna to shut down

Postby eddiea » May 22nd 2017, 5:00am

biglove wrote:
eddiea wrote:Not sure if that's true or not but, Eterna's lack of design imagination and off the shelves movements are a big disappointment to me ....
Devaluation in the pre-loved market is dismal, just a disaster



Yep. Worst bath I have ever taken on a watch was the Kon-Tiki. Abysmal resale value.


The market is but saturated of the Kon-Tiki, a model that is all about basking in reflected glory of the original (and totally different) Eterna, in typical zombie brand MO ...predictable failure
Last edited by eddiea on May 22nd 2017, 10:03am, edited 2 times in total.
“Of all the gin joints, in all the towns, in all the world, she walks into mine…”
Image
User avatar
eddiea
Founding Member & Master of Time
 
Posts: 10605
Joined: December 25th 2009, 11:00pm
Location: Nikki Beach, Miami (GMT -5)

Re: Corun & Eterna shuffles - Eterna to shut down

Postby Wasp » May 22nd 2017, 5:11am

In this niche the brands that will survive will be the well established brands that downsize dramatically to mirror consumption.
Resist Resist Resist Resist Resist Fake News Resist Resist Resist Resist Resist
Image
User avatar
Wasp
Senior Member & WIS
 
Posts: 2704
Joined: December 31st 2012, 11:00pm
Location: Zip Code: e-i-e-i-o

Re: Corun & Eterna shuffles - Eterna to shut down

Postby TemerityB » May 22nd 2017, 6:56am

Can't argue, wasp. Based on what I'm seeing in an otherwise stagnant gray market, I have an uneasy feeling about Frederique Constant and Alpina; despite Citizen's ownership, the gray sites and even off-price stores are flooded with those brands right now.
"Funny how some things that start spontaneously end that way." - Neil Young
User avatar
TemerityB
ASSHAT
 
Posts: 12593
Joined: June 12th 2010, 10:00pm
Location: New York City

Re: Corun & Eterna shuffles - Eterna to shut down

Postby svaglic » May 22nd 2017, 7:17am

biglove wrote:Yep. Worst bath I have ever taken on a watch was the Kon-Tiki. Abysmal resale value.


Bad for you, not so bad for me. One of my favorites.
The truth is the truth, even if no one believes it. A lie is a lie, even if everyone believes it. Unknown
User avatar
svaglic
ASSHAT & Master of Time
 
Posts: 3514
Joined: November 30th 2010, 11:00pm

Re: Corun & Eterna shuffles - Eterna to shut down

Postby Falstaff » May 22nd 2017, 8:07am

Now if only Corum would start dumping the Golden Bridge models....
"Open the pod bay doors, HAL.
I'm sorry, Dave. I'm afraid I can't do that.
What's the problem HAL?
I think you know what the problem is just as well as I do."
User avatar
Falstaff
Watchlord WIS
 
Posts: 6303
Joined: August 31st 2010, 10:00pm

Re: Corun & Eterna shuffles - Eterna to shut down

Postby koimaster » May 22nd 2017, 8:55am

jaw wrote::( Bummer

I figured all they wanted was the ETA IP.
Grab 'em, bleed 'em, and kill 'em - Happens all the time.
Still, glad I have a couple.



I remember trying one of yours on when we got together in downtown Portland a few years ago. Snowflake "falcon" was there with an invicta.
Image

1946-2006

“Your heart was warm and happy

With the lilt of Irish laughter

Every day and in every way

Now forever and ever after."
User avatar
koimaster
Administrator/Founder
 
Posts: 31513
Joined: December 16th 2009, 11:00pm
Location: Oregon

Re: Corun & Eterna shuffles - Eterna to shut down

Postby biglove » May 22nd 2017, 2:08pm

svaglic wrote:
biglove wrote:Yep. Worst bath I have ever taken on a watch was the Kon-Tiki. Abysmal resale value.


Bad for you, not so bad for me. One of my favorites.


That's the good part of that bath, you got a great watch at a good price. That was what made the loss of cash bearable because it was you that bought it.

Now, I wouldn't mind picking up a couple of Alpinas at basement prices.
"Women and cats will do as they please, and men and dogs should relax and get used to the idea."-Robert A. Heinlein
Image
User avatar
biglove
Watchlord WIS
 
Posts: 9600
Joined: October 27th 2013, 9:18am
Location: Deep South

Re: Corun & Eterna shuffles - Eterna to shut down

Postby TemerityB » May 22nd 2017, 3:00pm

biglove wrote:
Now, I wouldn't mind picking up a couple of Alpinas at basement prices.


Tell you what - just log on at Amazon and be prepared to have you eyes bulge out - some are being lowballed at Joma, too.
"Funny how some things that start spontaneously end that way." - Neil Young
User avatar
TemerityB
ASSHAT
 
Posts: 12593
Joined: June 12th 2010, 10:00pm
Location: New York City

Re: Corun & Eterna shuffles - Eterna to shut down

Postby Hawk » May 22nd 2017, 3:34pm

Falstaff wrote:Now if only Corum would start dumping the Golden Bridge models....


I guess we're both watching for that.
When two opposite points of view are expressed with equal intensity, the truth does not necessarily lie exactly halfway between them. It is possible for one side to be simply wrong.

— Richard Dawkins, evolutionary biologist
User avatar
Hawk
ASSHAT
 
Posts: 7119
Joined: October 8th 2010, 10:00pm
Location: Orlando, FL

Re: Corun & Eterna shuffles - Eterna to shut down

Postby Thunder1 » May 22nd 2017, 3:52pm

TemerityB wrote:
biglove wrote:
Now, I wouldn't mind picking up a couple of Alpinas at basement prices.


Tell you what - just log on at Amazon and be prepared to have you eyes bulge out - some are being lowballed at Joma, too.

Reccomendations, please...
Image
Ebels are a lot like women that lack a low cut dress that zips up the side...neither get the love that they deserve...
User avatar
Thunder1
Senior Member & WIS
 
Posts: 2791
Joined: June 22nd 2015, 4:55am
Location: Texas Hill Country near Austin

Re: Corun & Eterna shuffles - Eterna to shut down

Postby SaoGage » May 23rd 2017, 7:06am

A real shame, I always had respect for Eterna even if their modern lineup left much to be desired. I definitely agree with the sentiments above; they had absolutely zero marketing presence. If I didn't know about the brand's history, I wouldn't know anything about them at all.
User avatar
SaoGage
Senior Member & WIS
 
Posts: 1160
Joined: August 11th 2014, 9:39pm


Return to General Watch talk

Who is online

Users browsing this forum: No registered users and 13 guests