LVMH acquires Swiss watchmaker Hublot
April 24, 2008
LVMH Moët Hennessy Louis Vuitton, the world's leading luxury group, announces that it has signed an agreement to acquire the Hublot group, a top of the range watchmaker enjoying very strong growth.
LVMH will acquire Hublot from Mr Carlo Crocco, who founded the group in 1980, and a company controlled by Mr Jean-Claude Biver, who has managed Hublot since 2004.
Hublot is a brand that is highly complementary to LVMH's existing watch portfolio comprising TAG Heuer, the world leader in prestigious sport watches and chronographs, the Swiss Watch Manufacturer Zenith, Dior Montres, Louis Vuitton watches sold exclusively in Louis Vuitton stores, and the watch collections of jewellers Chaumet, Fred and De Beers.