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New Startup to Produce Tudor Watches

4K views 17 replies 13 participants last post by  McChicken 
#1 · (Edited)
A new company called Kenissi will be building a large scale factory next door to the Rolex Le Locle factory for the production of Tudor watches and movements. Rolex and Chanel are said to be investors in the company. The project is code named "Project Gemini" and likely signals a change from Tudor's long standing tradition of assembling watches at Rolex's Main Plant in Geneva. Tudor movements are currently assembled near Rolex's Bienne Plant. This raises the question of whether the name "Geneva" will continue to remain on the dials. It is reported that some Tudor employees will be re-located to the new facility.

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#3 · (Edited)
https://watchesbysjx.com/2019/01/chanel-kenissi-tudor-rolex.html

Kenissi is owned by the industrial arm of Tudor apparently (so Rolex eventually) and this is why we see Breitling and Rolex cooperating (is my guess)....

Lots of people speculate that the cooperation between Rolex/Tudor and Breitling goes back longer than we think:
http://console.fm/2019/02/19/how-ab...-at-the-breitling-self-produced-b01-movement/

This watchmaker thinks that Breitling Chrono B01 is heavily based on Rolex' 3135 - which then would make sense why Tudor uses it as well. So Kenissi being strongly associated with Tudor/Rolex and Breitling and Chanel / F.P. Journe niiiice.
 
#4 · (Edited)
As an update to my 2 year old post, here are some drone shots of the newly completed Tudor/Kenissi factory. Interestingly, half the building has Tudor decor, while the other half has a different Kenissi decor. I can’t find any other information on if the new factory is operational yet. But I think that is likely, as greater movement production would account for the new Ranger release with the MT5402 upgrade being priced the same as the ETA/Sellita Black Bays at about $3000 USD. On my original post, I thought full watch assembly might take place here, but judging from the small size and layout, I now think that they probably only produce the in-house Tudor movements on one side and movements they supply on the other side (Breitling, Chanel, Tag Heuer, Fortis and Norqain.) So casing up and final testing must still take place at Rolex, Geneva. While the movement is no longer exclusive to Tudor, it seems like a cost savings is being passed onto buyers with lower prices. I don’t know what happens in the old Rolex building, but it looks like maybe it’s only offices.

Building Grey Urban design Font Facade

Building Urban design Transport hub Composite material Roof

Building Water Composite material Landscape Real estate
 
#7 ·
#8 · (Edited)
As I correctly predicted 4 years ago, Tudor has recently confirmed that this facility is indeed the new Tudor Manufacture with full assembly and testing of both watches and movements taking place. Although still not widely reported upon, this is a significant development for the two brands.

The building was officially opened in March. All Tudor manufacturing operations have moved out of the main Rolex manufacture in Geneva, although the name Geneve still appears on Tudor dials. Perhaps Tudor’s administrative and design functions will remain at Rolex Geneve in order to continue use of the prestigious name.

This move further differentiates Tudor as a separate, distinct brand from Rolex, which on its’ face would appear to diminish some of the prestigious halo effect. Rolex owners who tend to look down upon the lower end Tudor sister brand will greatly appreciate this added separation. However, for Tudor customers, it does signal Rolex’s ongoing commitment to the brand, and will likely ensure more consistent production through a dedicated factory. Previously, Tudor production was shared with Rolex and tended to be worked around it, resulting in delays and product shortages among both brands. With high demand, the separate and more automated production and testing will be a big benefit. Maybe we will see more stable lines with less spontaneous storages and discontinuation of beloved models.

Interestingly, Tudor says that they utilize a network of “Tudor-Owned Affiliates” in and around the new factory’s region to produce parts. Perhaps they are buying up their suppliers in a similar fashion to Rolex.

The Details here…. TUDOR Swiss watch Manufacture | TUDOR Watch
 
#10 · (Edited)
The fact that Rolex and Chanel are involved as investors adds even more excitement to the mix. With the construction of a large-scale factory next to the Rolex Le Locle facility, it seems like "Project Gemini" is set to bring about significant changes for Tudor. I wonder if this move signifies a shift from their traditional assembly process in Geneva. Speaking of changes, I'm curious if the name "Geneva" will continue to appear on the dials. Nonetheless, it's heartening to hear that some Tudor employees will be relocated to the new facility. Overall, it's an intriguing development that promises a bright future for Tudor watches. On a related note, I'm curious about the implications of us llc for non residents in this context.
 
#11 ·
Folks, Kenissi is not an independent venture in which Rolex or Chanel have invested.

Kenissi was founded with the intention of building movements for Tudor in the future. For this purpose, Tudor brought its former movements manufacture into this company.

From the beginning, Kenissi belonged 100% to the Hans Wilsdorf Foundation before 20 percent were sold to Chanel. The rationale behind this is to create a continuous and increased demand for movements in order to achieve economies of scale. Furthermore, strategic partnerships with companies such as Breitling have been established to support technology and know-how transfer.

So, let's summarise again:

  • Rolex SA has nothing to do with Kenissi.
  • Kenissi is a subsidiary of the Hans Wilsdorf Foundation.
  • Kenissi was founded as a movements manufacture of Tudor (by the Foundation Hans Wilsdorf for Tudor).
  • There is a 20 per cent investment by Chanel.
  • There are strategic partnerships with other manufacturers.

I hope this clarifies some of the things that have always been falsely claimed so far.
 
#12 ·
So really Rolex will still be making Tudor movements, but calling them Kenissi….
 
#14 ·
Not really... if Rolex were, there's no reason why the Tudor GMT movement had issues for so long when the Rolex movement doesn't have issues.
 
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