The encyclopedia · Strategy & Leadership · Strategic decision · 2022–2023
Dodane made watches for 174 years — then the luxury groups priced it out of the sky
Five generations in Besançon, a military contract book, and an in-house movement from 1936. None of it mattered when the banks said no.
Dodane · 2022-09
What happened
The Dodane family had been making watches in Besançon without interruption since 1848. The brand, registered in 1857, survived five generations and served both civilian and military markets. By the 2020s it still had signed or pending military contracts and a project to relaunch its in-house movement, originally introduced in 1936. What it did not have was cash.
The military pilot-watch segment that had sustained Dodane was transformed over 30 years as competitors were absorbed into luxury groups with vast investment budgets. Bell & Ross, founded in 1994, was backed by Chanel. IWC was bought by Richemont in 2000. Breitling launched its first in-house movement in 2009 and was majority-sold to CVC Capital Partners in 2017. Breguet relaunched the Type XX with full in-house manufacturing. These rivals could invest tens of millions; Dodane could not.
In September 2022, Cédric Dodane filed the company for bankruptcy. Compulsory liquidation was ordered in May 2023. The operating company was worth nothing; the brand itself, owned personally by Cédric, was separated and put up for sale to cover debts. Several letters of intent were submitted, including from Herbelin. The retirement and death of Laurent Dodane, Cédric's father, had also removed the family's longest-standing industry network.
Why it happened
- The pilot-watch segment was consolidated by luxury groups (Chanel, Richemont, CVC) whose investment capacity was orders of magnitude beyond a family firm
- Military sales declined over 30 years as pilots shifted from mechanical instruments to smartwatches like Garmin, eroding the brand's core revenue
- The company had contracts and a movement project but insufficient cashflow to exploit them — banks refused the small loans needed to keep operating
- The death of the senior family member removed the industry relationships that had sustained a small firm through earlier downturns
The lesson
A heritage brand in a consolidating segment needs a backer or a niche the groups cannot reach — contracts and history are not collateral when the banks have seen the competitors' balance sheets.
Aftermath
The Dodane brand was separated from the liquidated company and put up for sale. Cédric Dodane said he would consider a sale only if the family remained associated with the brand. Herbelin publicly expressed interest. The case was documented by Europa Star as the end of an era for independent French watchmaking in Besançon.
Sources
- Europa Star: Dodane — the end of an era
- Le Petit Poussoir — 'Dodane : l'horloger français qui équipait les cockpits militaires' (five generations since 1857; Besançon; liquidation judiciaire 2023; Bell & Ross, IWC, Breitling competition; NATO supplier; brand owned by Cédric Dodane)
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