Schramberg, 1st March 2022. With a total revenue of close to 18 million Euro, Uhrenfabrik Junghans GmbH & Co. KG returned positive figures for the business year of 2021 – despite slightly reduced profits in the year previous. Prolonged closures of retail outlets were responsible for losses suffered in this specialised industry in the first half of the year, with business in inner-city locations affected in particular. For Junghans, residential retail remains the most important sales channel in the market, even with the rise in digitalisation. The watch manufacturers also stuck with this strategic angle in the second year of the coronavirus, standing resolutely by their jewellers despite the losses in revenue caused by the pandemic.
In spite of declining international business dealings, Junghans were able to demonstrate profits in established markets to a level, and in some cases even exceeding levels returned before the current global situation – this applies in particular to dealings in the USA, one of the most important markets in the industry. It was possible to generate a distinct positive over 2019, the year preceding the coronavirus pandemic.
European markets in Italy and Spain produced favourable results. A clear reversal of trend was to be evidenced in Great Britain in particular; profits in the aftermath of Brexit exceeded the level of that in 2019, the year before the pandemic. In view of the global recovery in the second half of 2021, these developments are considered extremely promising for the company and attest to a strong international potential for growth.
A time for nostalgia in our anniversary year, but above all a focus on the future
On the occasion of 160 years of company history, Junghans launched numerous limited edition models fashioned from steel, as well as from gold and platinum. The huge demand for exclusive timepieces is a testament to the increased desire for premium quality ‘made in Germany’ products, and underpins the success of this revered brand.
As well as looking back over the company’s history, particular focus was placed on strategic advancement in the anniversary year: Important positions were accommodated within management personnel to strengthen the company, thus expediting continuous digital advancement of the business. With a virtual exposition format wholly new to the industry, Junghans responded to the complete exclusion of physical contact possibilities. This platform, allowing personal exchanges and the mediation of extensive product information beyond the classic expo experience, successfully established Junghans in international customer communication. Junghans capitalised on the period in which lockdowns were observed at the beginning of the year to successfully introduce and implement a new ERP system.
With solid themes, innovative products and improved methods, Junghans demonstrated economic stability in the second year of coronavirus in a row, despite minimal losses in sales. The company had only temporarily to fall back on government programs, such as reduced working hours for the 108 employees, and were therefore ultimately able to generate a positive balance sheet in an otherwise turbulent year.
A year dominated by sport
Establishing a partnership with ski-jumper Karl Geiger to represent Junghans as brand ambassador ensured a sports-driven start to the year 2022. Additionally, the watch manufacturer is to validate the many years of association with numerous sport-related major events in their role as timekeeper, with two limited special editions. As well as introducing an array of new products, Junghans will also implement a complete refitting of their Meister and max bill series in 2022 with custom-made domed sapphire crystal. All new products will be unveiled in digital and analogue from the 1st March, 2022. A personal meeting with all specialist retail partners will be held between the 8th and the 11th of April at the Inhorgenta Munich, the most eminent of all German trade fairs.