====== Desco von Schulthess AG ======

{{wst>author|[[Foskett, Stephen|Stephen Foskett]] ([[https://grail-watch.com/|Grail Watch]])}}

**Desco von Schulthess** (sometimes spelled **Schultess** or **Desco de Schulthess & Co.**) is a [[holding company]] best known today for establishing the [[Maurice Lacroix]] brand but formerly owning [[Girard-Perregaux]] and distributing brands such as [[Eterna]] and [[Audemars Piguet]] in Asia.

===== History =====
Desco von Schulthess was established in [[Zurich]] in [[1889]] as a distributor of silk and other goods from Asia. In [[1933]] the company established Desco von Schulthess Holding AG as a [[holding company]] for investments in other areas. After World War II, Desco became the agent for luxury brands [[Jaeger-LeCoultre]] and [[Audemars Piguet]] in certain Asian markets, along with mass-market brands [[Angelis]], [[Eterna]], [[Heuer]], and [[Certina]]. Other brands included [[Coral]], [[Credos]], [[Eska]], [[Fricha]], [[Moni]], [[Royce]], [[Sarwa]], [[Tugaris]], and [[Looping]] alarm clocks.

Desco purchased [[etablisseur]] Tiara of [[Saignelégier]] in the [[Swiss Jura]] in [[1961]], assembling watches for other brands.

In [[1975]], Desco von Schulthess launched its own brand of watches, [[Maurice Lacroix]]. Named for the French Director of Silks in Lyon, the name was chosen for the romantic sound. Initially launched in Austria, Maurice Lacroix soon spread to Spain, Germany, and other parts of Europe. By [[1995]] Maurice Lacroix watches were available in most international brands, including the United States.

The Saignelégier operation focused entirely on the successful Maurice Lacroix brand in the 1980s, and the brand's success lead to the purchase of nearby casemaker Queloz in [[1989]].

In [[1993]], Desco purchased a stake in [[Arthur Imhof]], gaining access to [[La Nouvelle Manufacture]].

As the quartz crisis raged in the 1980s, Desco purchased shares in many of the brands it distributed. This includes ownership of [[Girard-Perregaux]] from [[1979]] through [[1985]]. Desco also acquired the [[Consul]] brand with [[Girard-Perregaux Holding]], and this would remain with the company until [[1996]].

Desco sold their Asian Jaeger-LeCoultre operation back to the Le Sentier company in [[2001]] amid that consolidation. Desco long held a minority share in [[Audemars Piguet]] lasting to the present day. Demonstrating the closeness of these companies, in [[2008]], Desco head Philippe Merk replaced [[Meylan, Georges-Henri|Georges-Henri Meylan]] as CEO of Audemars Piguet. Merk had joined Desco in [[2001]] and shook up the brands, moving Maurice Lacroix back up-market.

The company aimed in [[2005]] to be a vertically-integrated [[manufacture]], including setting up an in-house manufacturer of movement components, [[Manufacture des Franches-Montagnes|Manufacture des Franches-Montagnes (MFM)]]. This did not last. After Merk's departure, the decision was made to focus primarily on the entry-luxury segment, leaving the high end manufacture watches in place.

Desco sold the distribution rights for Maurice Lacroix to [[DKSH]] in [[2008]] and purchased the brand entirely in [[2011]], including its manufacturing operations. But the world financial crisis pushed DKSH to offer Maurice Lacroix and Queloz for sale in [[2015]] and announced plans to shut down [[Manufacture des Franches-Montagnes|MFM]]. Queloz was sold In [[2018]] but [[as of 2021]], Maurice Lacroix is owned by DKSH.


{{tag>Zurich Desco_von_Schulthess}}