Early Life and Acquisition of Chopard
Karl Scheufele III, born in Pforzheim, Germany, in the "Golden City", a place with deep roots in jewelry and watchmaking. Trained as a goldsmith and watchmaker, Scheufele already ran a watch business at age 20. He acquired the Swiss watchmaker Chopard in 1963. The previous owner, Paul-André Chopard, had no children interested in taking over the company, presenting Scheufele with an opportunity.
Rise to Success and Global Expansion
Under Scheufele's leadership, Chopard transformed into a global luxury brand. He expanded the company's offerings beyond watches to include fine jewelry. The Scheufele family has since grown Chopard to have over 100 boutiques worldwide, with Asia, including Hong Kong, as a key market for expansion. Scheufele's children, Karl-Friedrich and Caroline, now co-lead the business.
Key Business Strategies and Innovations
Chopard is known for its commitment to excellence, innovation, and sustainability. Scheufele's strategies included expanding the company's offerings and focusing on its mechanical heritage. In 1976, Chopard introduced its "Happy Diamonds" collection, featuring free-moving diamonds between sapphire crystals, which became a signature design. Caroline Scheufele later designed the Happy Diamonds collection, which allowed the diamonds to dance freely, and the Happy Sport watch. The brand also focused on ethical practices and sustainable sourcing, joining the Responsible Jewellery Council in 2010 and creating watches from Fairmined gold. Karl-Friedrich Scheufele founded Chopard Manufacture in Fleurier in 1996 to develop and produce high-precision mechanical movements.
Philanthropy
While specific amounts of philanthropy are difficult to ascertain, Chopard is known for its partnership with the Cannes Film Festival, becoming its official partner in 1998 and launching the Red Carpet Collection in 2006, designed especially for the festival.