DHAKA: Raymond Weil, founder of the watch brand of the same name and one of the great innovators of the Swiss watch industry, has died at 87.

The company said on Monday, reports The Straits Times.

He made his name by putting the luxury watch within reach of the pockets of people with style without fortunes.

Weil, who retired from the company’s board only last September and who remained honorary president, died ‘peacefully’ on Sunday, the company said in a statement, without providing further details.

The company remains a family business, with Weil’s son-in-law Olivier Bernheim and two of his grandsons, Elie and Pierre, at the helm.

BDST: 1942 HRS, JAN 27, 2014