Legacy is a double-edged sword of two seemingly contradictory principles of continuity and change. Managing the two contradictions is often critical to a firm’s survival. Prior research has only pointed out general courses of action firms can take as opposed to what concrete strategies firms can take and how these strategies can be deployed over time. Deployment of such concrete strategies has primarily remained a black box. Our research takes a qualitative case study approach to show what’s in the box. It examines how a Japanese firm called Seiko Epson reconstructed its legacy by developing and commercializing a new type of wristwatch movement—the Spring Drive. The movement was a hybrid between mechanical and quartz without needing a battery and meets the accuracy of quartz while not compromising the beauty of a mechanical movement. Seiko Epson took nearly twenty years to develop the movement, and its commercialization resulted in a new product category called “Accurate Luxury.” This case study reveals a repertoire of strategies to manage the continuity and change of a legacy, when these strategies can be taken, how they can be combined over time, and how the intergenerational transmission of entrepreneurial mindsets enables the trial-and-error process for realizing and deploying these strategies.