Summer Acquired the American Department of the Destination Manage- Recently: 20 Years at Bergdorf Goodman
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(Continued from page 1: Business Matters) New developments in KUONI’s US growth strategy Happy Anniversary, Akris Swiss-American The travel company Kuoni is Albert Kriemler, designer of the Swiss brand, celebrates 20 Chamber of Commerce continuing its growth strategy. As years at Bergdorf Goodman New York Chapter of February 1st, 2010 Kuoni has Kriemler celebrated a lofty milestone :view Summer acquired the American department of the Destination Manage- recently: 20 years at Bergdorf Goodman. re ment Division of the US concern TBA Global. This step will enable Ever since he travelled to New York in the company to increase its activities in the field of conference 1979 when he was 19, it was his dream to organization, incentives, events and meetings, said Kuoni. This 10 have his label Akris in Bergdorf’s. department will be integrated in Duoin Destination Management and managed by Allied TPro in the USA: His dogged pursuit of Dawn Mello, the retailer’s president at the Welcome to the New York Chapter! Business Matters time, eventually paid off. Two decades later, the brand continues http://www.kuoni.com Brix + Partners LLC METALOR TECHNOLOGIES of Neuchatel expands its American Business to be a winner for Bergdorf’s, garnering a whopping $1 million at a U.S. Steuerberatung trunk show just last year. The precious metal specialist Metalor Technologies Gerald Brix, Managing Partner takes over the American operations from the German Lindt & Sprüngli expansion course in the USA Akris was founded in 1922 by Alice Kriemler-Schoch; the word 59 Maiden Lane, 39th Floor company AMI Doduco. “Akris” was derived from the letters of Kriemler-Schoch’s name. New York, New York 10038 Americans love Lindor truffles [email protected] Metalor, with its head office in Neuchatel, took control of the French holding company Astorg Part- Although the worldwide choco- Since its early days, the world-renowned family enterprise created www.brixcpa.com ner last September. Its intention is to increase its market share in electric contacts. late market with a volume of a company culture that defined highest quality and style as their 100 billion Swiss Francs fell last most important values and this strategy has won them interna- AMI Doduco is owned by the US Group Technitrol. The production locations now taken over year for the first time in 10years, tional accolades. by Metalor are in the USA, Mexico and Puerto Rico. Altogether approximately 400 people are employed. CEO Ernst Tanner nevertheless looks back on a veritable Lindt The entire Akris collection is produced exclusively in Switzerland & Sprüngli success story in the tough US market. In the past 5 Fragomen, Del Rey, Bernsen and Loewy, http://www.metalor.com in the company’s own production workshops in St. Gallen, Zurich years the company has doubled its turnover in North America to LLP and in the canton of Ticino. 2.5 billion francs. Lindt and Ghiradella were the two fastest grow- Ethan Kaufmann, Partner ing high-end chocolate brands. Approximately 40% of Akris sales are in North America. In ad- 7 Hanover Square Sonova acquires InSound Medical Inc. and adds a revolutionary new hearing New York, New York 10004-2756 system to its portfolio The Lindor truffles are extremely popular in America and the con- dition to Bergdorf Goodman, the brand can also be found in the [email protected] cern expects to sell over 1 billion units this year. North America, USA in Saks Fifth Avenue locations, Neiman Marcus and most Sonova Holding AG, the world’s leading provider of http://www.fragomen.com with a turnover of close to 27% is the biggest market for Lindt & recently, Nordstrom. hearing systems announced recently that it has acquired Sprüngli. http://www.akris.ch ownership of InSound Medical Inc., Newark / NJ. A perfect match: Roger Federer became global ambassa- InSound Medical developed the first extended wear hearing system, which is placed in dor for his favorite chocolate Lindt the ear canal and is totally invisible from outside. It is marketed under the Lyric brand. In support of its global marketing efforts, premium chocolate In addition, the Group also mentioned that it anticipates an organic sales growth of manufacturer Lindt & Sprüngli is now also partnering with Swiss Pryor Cashman LLP 17-18% and an EBITA margin of around 28% for the business year 2009/10 - barring tennis champion Roger Federer in a long term deal to serve as Colleen Caden, Lawer unforeseen events. the global brand ambassador for his favorite Lindt chocolate. 7 Time Square http://www.sonova.com New York, New York 10036-6569 Alongside the proven and successful communication concept [email protected] based on the universally popular Maîtres Chocolatiers, the coop- www.pryorcashman.com eration with Roger Federer will be used as an additional commu- Switzerland Tourism & UBS explore Switzerland from its most beautiful side. nication instrument in Lindt’s global marketing initiatives. This new partnership is built around something extremely important to both UBS and Switzerland Tourism (ST): A firm commitment to a strong, multi-faceted Switzerland. Clients and employees of UBS will be able to benefit from attractive vacation and leisure-related offers. This cooperation builds on shared values: UBS and ST both have strong Swiss roots and a long tradition. Both have also set themselves very high standards. “When it comes to quality, we both see ourselves as reliable partners, whether for bank- ing clients or guests,” says Urs Eberhard, acting CEO of Switzerland Tourism. UBS will Swiss-American Chamber of Commerce also be a “Presenting Partner” for ST’s main summer and winter campaigns. Lukas New York Chapter About this Newsletter Gähwiler, CEO UBS Switzerland, is delighted about the new partnership: “It will open up a whole range of benefits for our clients and our staff, by allowing them to take advantage 500 Fifth Avenue, Room 1800 We welcome your suggestions. If your organization or firm would like to reach our members and of special vacation and leisure-related offers, for example.” New York, NY 10110 has anything of interest, please feel free to submit it to us. 212 246-7789 phone Editor-in-chief: George J. Grubenmann Translation Expert: Carol Nold (-McKell) More information: 212 246-1366 fax [email protected] [email protected] http://www.ubs.com/2/g/ubs_ch/tourismus/ubs_entdecken_r.html http://www.myswitzerland.com/ [email protected] Whilst every effort has been made to ensure that the information contained in this newsletter is accurate, neither the editors nor the Swiss-American Chamber of Commerce can accept any liability Design by Ops Divina or responsibility for errors, omissions resp. consequences resulting from the use of this publication. www.opsdivina.com This newsletter can also be downloaded from the SACC homepage: www.amcham.ch (Continued on page 6) 06 01 Editorial to thank you for your continued support and wish everyone a great summer. Navigating a leading global financial corporation through a financial crisis Dear Reader, Walter Kielholz shares insights from his recent experience Kind regards, Welcome to the Summer edition of Re:View. George Grubenmann According to many economists, a large The Swiss-American Chamber of Commerce and the Swiss Society of New York Member of the Board number of businesses are in far better shape jointly held an event on 14 April 2010 with keynote speaker Walter Kielholz, Chairman Swiss American Chamber of Commerce than they were a year ago. As the scale of the of Swiss Re. Mr. Kielholz spoke on the topic “Navigating a Leading Global Financial New York Chapter recent economic crisis abates, an increasing Corporation Through a Financial Crisis”. The presentation, held at Swiss Re’s mid- number of enterprises reports that they have town New York office, was followed by questions and answers and a cocktail recep- made great progress after realigning their busi- Upcoming Events tion. ness priorities. In addition, quite a few compa- June 9: nies have been able to achieve a turnaround to profitability in the 5 Reasons Why Change Efforts Fail Mr. Kielholz gave an eloquent and lively account of a financial company’s navi- meantime. As a reflection of these changing market conditions @ Residence of Ambassador Christoph Bubb gation through the recent financial crisis. He drew analogies from two very dif- where economic growth is finally rebounding, you can read about July 31: ferent subject areas: from his tenure with Credit Suisse, where he was Chairman some of these success stories arising from various industries. Swiss National Day Celebration from 2003 to 2009, and from sailing, which is a personal passion. These are companies that have stood the test of time. And they @ Central Park Zoo are doing particularly well right now. Why? In spite of the very challenging times and sparse resources recently, these enter- October 7: Mr. Kielholz explained that successful navigation of a boat depends on four factors: prises nevertheless managed to remain innovative and relevant to European Chambers of Commerce joint networking & their customers. Fall European Chambers Young Executives networking event • The first is knowledge of the boat: its design, strengths and weaknesses as well as @ TBA what can be done and what cannot be done with it. Furthermore, the demands and pressure of an unsettling and tough market environment last year did not discourage many October 21-22: • Second is the quality and expertise of the crew. Does everyone know their role in all cir- aspiring entrepreneurs from exploring innovative economic op- Second HSG Alumni USA Conference Walter B. Kielholz, Chairman of Swiss Re cumstances? Is the crew overconfident or does it jump ship when the sea gets rough? portunities such as starting one’s own restaurant business.