Cendres+Métaux’ jewellery, watches, and refining sectors are set to form new division Luxe & Industry following the successful combination of medical devices and dental businesses last year.
Cendres+Métaux is implementing its divisionalisation strategy to better adapt to changing markets and increase its competitivity. The newly established division will in future be headed up by Marco Zingg, who as chairman of the board and delegate of the board of directors is taking charge of overall operational management.
Member of the board of directors Dr. Arne Faisst remains the CEO of CM Medtech, having been delegated to this role last year. The previous head of the jewellery, watches, and refining sectors and former CEO Dr. Claudio Penna is leaving the company due to differing perceptions concerning the required strategic orientation of the company.
Markets for luxury items and medical devices continue to be in a state of upheaval worldwide and for Swiss suppliers, competition has further intensified as a result of the decision of the Swiss National Bank (SNB) last year. Differences between the two sectors in terms of regulations or production processes are also steadily increasing.
To be able to respond more flexibly and further improve competitiveness in both sectors, Cendres+Métaux Holding’s board of directors decided last year to combine the previous different business segments into the CM Medtech and CM Luxe & Industry divisions. CM Medtech was implemented in 2015. The board of directors expects the organisation to improve its ability to respond to specific changes in the two sectors the company operates. In addition, various measures are being activated to increase efficiency and improve customer focus.
Cendres+Métaux’ chairman of the board Marco Zingg says: "At the present time, the market environment in the jewellery and watches industry is undergoing profound change both in terms of technology and prices.
"As suppliers, we are naturally also feeling this very acutely and are constantly having to re-adapt. With our powerful innovations in products and processes along with our broad set-up in terms of available production technologies, however, we are fundamentally well-positioned for change and the future."
To illustrate this, a world-first 3D printing process is currently being launched onto the market enabling unique designs for watch cases, gold jewellery, and dental implants.
Marco adds: "Due to the costs associated with the realignment we are only expecting a significant improvement in profitability in the next financial year".