The acquisition is the final step in a process that began four years ago. After a period of strong growth, Daniel Wellington suffered significant financial setbacks. A venture into physical stores, combined with the coronavirus pandemic, resulted in losses of nearly one billion Swedish krona between 2019 and 2023.
To reverse the trend, a collaboration was initiated with Timex Group, which initially acted as a distributor and provided a convertible loan. Ownership has since occurred in stages:
- 2022: Timex Group becomes a strategic partner and makes an initial investment of 25 percent.
- 2025 (November): Timex converts the loan and becomes the majority owner with 51 percent of the shares.
- 2026 (July): Timex acquires the remaining shares and becomes the sole owner.
Continues as an Independent Brand
According to Timex Group, Daniel Wellington will continue to operate as an independent brand within the group. The focus is on maintaining the Scandinavian design while leveraging Timex's infrastructure in manufacturing, distribution and product development.
Tobias Reiss-Schmidt, CEO of Timex Group, comments on the deal:
We have been impressed by the team, by the products they have launched and by the progress they have made in getting Daniel Wellington to grow again. Now that we own 100 percent of the brand, we are increasing our investments and adding the full strength of Timex Group’s global capabilities and infrastructure to help further accelerate this growth journey.
Founder Steps Down
Filip Tysander, who founded the company in 2011, is now handing over his life's work entirely to the American owners. He states that the goal has always been to make timeless design accessible and expresses confidence in the new owners.
When I founded Daniel Wellington, the goal was to create a brand that made timeless design personal, stylish and accessible. Seeing it grow into a globally recognized brand has been an incredible journey. What matters most to me is that the brand continues to evolve without losing what made it special from the beginning. Timex Group has shown a genuine respect for Daniel Wellington’s identity and at the same time adds the experience and scale to help it continue to grow, says Filip Tysander.