"They are the perfect partner to take us into the next growth phase and lift Daniel Wellington to new heights," says founder Filip Tysander in a statement, reports Dagens Industri.
Daniel Wellington CEO Tianhao Liu tells the newspaper that Timex's convertible loan in the company is being converted into shares. Daniel Wellington was founded in 2011 by Filip Tysander, who until now owned 100 percent of the company.
Daniel Wellington will continue to have its headquarters in Stockholm. The company had a turnover of SEK 830 million last year.
