Early Life
Karl Scheufele III was born in Pforzheim, Germany, a city known as the "Golden City" due to its long-standing tradition in jewelry and watchmaking. He was trained as a goldsmith and watchmaker, immersing himself in the world of luxury goods from a young age.
Rise to Success
At the age of 20, Scheufele was already running Karl Scheufele GMBH, the watch business founded by his grandfather. In 1963, he acquired the Swiss watchmaker Chopard. At the time, the third-generation owner of Chopard was looking for a buyer, as his children were not interested in taking over the company. Scheufele seized the opportunity and transformed Chopard into a global brand, with a presence in over 100 boutiques worldwide. Under his leadership, Chopard became synonymous with high-quality Swiss watches and jewelry, and the brand's jewelry is a regular feature on the red carpet.
Key Business Strategies
Scheufele's business strategy involved a focus on quality craftsmanship, innovation, and maintaining a family tradition. He emphasized vertical integration, manufacturing nearly all components in-house, which ensured the high quality and exclusivity of Chopard products. He also expanded the brand's reach with boutiques in major cities globally. Chopard has also focused on ethical and sustainable practices, using ethical gold in its creations.
Philanthropy
While specific philanthropic amounts are not available in the search results, the company has been praised for its commitment to sustainability and ethical practices.
