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Leading luxury group to acquire Swiss Hublot
24 Apr '08
3 min read
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.
STRONG GROWTH POTENTIAL:
Hublot, which has its headquarters and workshops near Geneva, has started building a factory at Nyon to accommodate its expansion plans.
Having grown at a rapid pace since 2004, the brand achieved net revenue of more than CHF150 million in 2007 with an excellent profitability. A very significant increase in revenue is expected in 2008.
Hublot has a very selective and efficient distribution network which is limited to 300 stores worldwide.
Hublot has a well-balanced geographic footprint spanning Switzerland, Spain, France, Germany, the US, Latin America, Middle East, Russia, Japan, Hong Kong, Singapore…
The brand has recently been launched in China and India and has strong growth potential in Asia, Japan, North America and in certain European markets.
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.
STRONG GROWTH POTENTIAL:
Hublot, which has its headquarters and workshops near Geneva, has started building a factory at Nyon to accommodate its expansion plans.
Having grown at a rapid pace since 2004, the brand achieved net revenue of more than CHF150 million in 2007 with an excellent profitability. A very significant increase in revenue is expected in 2008.
Hublot has a very selective and efficient distribution network which is limited to 300 stores worldwide.
Hublot has a well-balanced geographic footprint spanning Switzerland, Spain, France, Germany, the US, Latin America, Middle East, Russia, Japan, Hong Kong, Singapore…
The brand has recently been launched in China and India and has strong growth potential in Asia, Japan, North America and in certain European markets.
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