Reported 11 months ago
LVMH, the world's largest luxury group, has purchased Swiss clock maker L'Epee 1839, enhancing its expertise in high-end watchmaking. The acquisition is a strategic move to target wealthy customers amidst a slowdown in luxury sales. Frederic Arnault, head of LVMH's watches division, highlighted L'Epee 1839's unique expertise in developing mechanical art objects and interpreting horological intricacies. Financial details of the deal were not disclosed. This acquisition follows LVMH's recent purchase of French bistro Chez l'Ami Louis as part of its focus on experiential luxury.
Source: YAHOO