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Concord Watch is part of the Movado group that owns Movado, Ebel, ESQ, Coach, Hugo Boss, Juicy Couture Watches,Lacoste, and Tommy Hilfiger watches. Founded in 1908 in Biel, Switzerland the brand was created to design watches with the American market in mind. Concord has made several innovations in its history such as being one of the first “private label” luxury watches to incorporate precious metals and gems in its watches. It was also the first company to make a wristwatch made of coins. In 1915 Concord started working with companies like Van Cleef & Arpels, Tiffany & Co. and Cartier (jeweler) on providing them with high quality watches made out of precious metals and gems. In 1979 it had a major breakthrough with the invention of the Delirium Watch which was the thinnest watch ever made at the time at 1.98 mm thick. Subsequently a Delirium 2 was released which was even thinner at 1.5 mm. In 2007 the company made a drastic change in its vision. It closed most of its existing dealerships as sluggish sales and lack of a specific market created a huge grey market that hurt the company’s reputation. The launch of the C1 was highly touted and targeted the ever popular luxury sport market. The style and pricing were designed to compete with watches such as Panerai, Audemars Piguet and Hublot. With only a couple hundred dealers worldwide Concord was hoping for a grand relaunch into the Luxury sector. In 2008 Concord created two new C1 pieces. The C1 worldtimer and the C1 Gravity Tourbillion. The later won the prestigious “Grand Prix d’Horlogerie de Geneve” as “Best design of the year 2008”. Whether this success will lead to ultimate success remains to be seen. In 2009, Alex Grinberg was appointed as the worldwide CEO of Concord.