Complaint Review: Franck Muller - Omega Rolex Tag Heuer Movada Montres Allison RGM Breguet

The Franck Muller group is ripping off millions of dollars from unsuspecting customers while they continue to sell their watches while moving toward liquidation. The warranties will be no good.

Franck Muller tempts to liquidate his Watchland!

The ambiance is of the hottest on the high of Genthod. Franck Muller has not been seen there for close to six months already. Did the success of the group Franck Muller make its inventors lose the sense of the measure? To hear Vartan Sirmakes, co-founder and co-shareholder of the group, one could worry, especially since this group uses more than 480 people between Genthods and Plan-Les-Ouates.
"Franck Muller wants to liquidate the group Franck Muller Watchland. An association that begun twelve years ago, at the origin of a great success ago. I want for proof makes the fact that we sold 48 678 watches Franck Mullers last year, a rise of 36,1%. Very superior to the one of our competitors. It would be necessary to be mad to want to break all that! In order to assure the everlastingness of the enterprise, my lawyers are studying the possibility to ask for it to be set under tutelage. His behaviour is incomprehensible."
Convention denounced
It is exact that Franck Muller notified nearly one month ago in Vartan Sirmakes that he denounced all contracts that bind them. According to a convention passed in 1998, so-called convention of shareholders and simple society, to put an end to the agreements permits to ask for the liquidation of the group. On its side, Vartan Sirmakes is bringing up a file in order to avoid this exit. An attempt of arbitration would be in progress, without one knowing some more.
The administrative and financial director of the group, Didier Decker, an old of the UBS having joined the duet five years ago already "paradoxical" judge the attitude of the watchmaker: "If Franck wants to sell his parts, as some are saying it, then why would he contribute to make some rumours? I recall that our accounts are transparent. We are audited by PricewaterhouseCoopers. The society doesn't have any debts."

Dispute as for the marks
If it remains difficult to know with precision the origin of the divorce between the two partners, two reasons seem obvious: the problematic of the marks European Company Watch (ECW) and Pierre Kunz, and of the layoffs of some employees which intervened without Franck Muller knowing it. Franck Muller had required and had gotten that during the fair organized from last April 7 to 13 in Genthod, the "World Presentation of High Clockmaking" (WPHH), no relative poster in the marks Pierre Kunz and ECW is visible under the big tent. His partner had un-heartily accepted then, according to our sources, Franck Muller would have said himself ready to invest 5 millions of Swiss Francs in these two new marks, whereas finally the amounts spent were well superior to it. The watchmaker would have wished to withdraw from these two businesses in order to let them to his only partner. Franck Muller didn't wish to express himself unfortunately.
Of the side of Vartan Sirmakes, it is the incomprehension. Didier Decker says that the amounts invested "investments in question is closer to 5 that of 60", without wanting to say some more to this subject. "The investments in question have been achieved to parity between the two partners. We didn't act in his back. There were some boards of directors. No decision not concerning these two marks has been taken without its downstream", declare the director.
And Vartan Sirmakes nails it: "We are pleased of the success that they bring us back. They are already beneficiary. Besides, we are going to open an Atelier Pierre Kunz close to the store of the Mount White Street. Four watchmakers will work there. Pierre Kunz goes October 6 to open two stores in Japan. I won't stop these two brands. It would mean to dismiss 150 people. On the contrary, I am ready to launch others"

Clan against clan?
Concerning a set of layoffs or resignations which intervened it is the fact that tenner of Armenians would be at the commands of the enterprise, there the answers also gush. There is more people from his family, "from the Pouilles, that work here than Armenians. On my side, with me, we are four. On the side of Franck Muller, they are six or seven", answers Vartan Sirmakes. And this last to assure that a second factory doesn't exist in Armenia: "We have a small shop there only for milling, some research and some components. Without forgetting a boutique of course in Erevan situated on the Aznavour place, inaugurated by Franck Muller".
Finally, with regard to "the arrival" of the watchmaker Roger Dubuis within the group Franck Muller Watchland, Vartan Sirmakes say: "As leader of this society, it is normal that I have some discussions with Roger Dubuis, a specialist of the complications. We speak of culture horlogre, not of business. It was never question to pay him a salary. And what will happen to the name Franck Muller? " You know, the most important it is not the name. Besides the number of people who are too named Franck Muller. Nicolas Hayek taught me that the director of the Glasshtte he is also named Franck Muller.
It is Watchland that is important to me.

Tribune de Genve / Serge Guertchakov
(Translated article from French To English www.connectingwatches.com)

Allison
New York, New York
U.S.A.