Chopard is a Swiss-based luxury watch, jewellery, and accessories company founded in 1860 by Louis-Ulysse Chopard at the age of 24. Chopard initially concentrated on developing precise pocket watches and chronometers based upon innovative ideas. Chopard is regarded as a manufacture, in other words their watches and movements are mostly made in-house rather than using the base movements of other manufacturers. After modest beginnings, the company experienced a decline that lasted until 1963, when it was bought up by Karl Scheufele III . The Scheufele family, owner of a jewellery and watchmaking manufacturing company in Pforzheim brought their knowledge and talents to Chopard. Under new owners, Chopard established itself in the middle of the 20th century as a benchmark in the field of precision luxury watches and jewellery.