The independent watchmaking scene
This is not a conglomerate. Every brand below operates outside the four big groups. Ownership varies: some are family-owned across generations (Patek Philippe, Chopard), some are foundation-owned (Rolex, Tudor, Audemars Piguet), some are backed by private equity or management (Breitling, Bremont), and a growing scene is founder-owned at very small annual volumes (MB&F, F.P. Journe, Greubel Forsey, Andersen Genève, De Bethune, and the emerging next generation). What they share: no quarterly report to a parent conglomerate.
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