The Bastogne-based brand, which was founded 11 years ago by Jean-Pierre Lutgen, announced in November 2016 it was in contact with a large watchmaking group with a view to possibly selling part of the company.
According to Belgian financial newspaper “L’Écho”, the firm has commissioned Degroof Petercam to oversee a sale or find a new partner. It was not clear what proportion of the shares were on the table, the daily said.
In the last ten years, Ice-Watch has become a global brand with a turnover of around €40 million.
Each year it sells around 1.4 million watches in around 75 countries.