The watch division of the French luxury goods group LVMH, which includes Hublot, Tag Heuer and Zenith, has announced the acquisition of a minority stake in La Joux-Perret. La Joux-Perret is a renowned Swiss manufacturer that specializes in the development and production of high-quality watch movements.
This strategic move is linked to a commercial partnership designed to secure new production capacity and innovation capabilities across LVMH’s watch portfolio. The partnership formalizes an already existing relationship. This included the development of the innovative solar quartz movement for the “Aquaracer” and “Formula 1” collections from Tag Heuer. A movement was also developed for the “Rope” watch model from Tiffany & Co.
The investment is part of a long-term plan to strengthen LVMH’s ties with its industrial partners in Switzerland, it said in a statement. The country, in which the group already has 16 factories, is “the heart of the global watch industry”.
Jean-Christophe Babin, CEO of the LVMH Watches Division, emphasized the importance of the partnership: “We are pleased to strengthen our relationship with La Joux-Perret. Their technical mastery, their industrial excellence and their deep roots in the Swiss watch landscape make them an ideal partner for our watch maisons. Together we want to play a leading role in sustainable high-precision watch movements. In doing so, we leverage our unrivaled expertise in the field of solar energy.”
La Joux-Perret will maintain its operational independence and continue to offer its expertise and services to all existing and future clients. Citizen Group, owner of La Joux-Perret, will also continue to manage its own watch brands independently.
Yoshitaka Oji, President and CEO of Citizen Watch Group, welcomed the development and added: “We are pleased to welcome LVMH as a shareholder of La Joux-Perret and celebrate the strengthening of their mutual business relationship. This strategic alliance with an important partner confirms the recognition of their expertise and opens up new long-term development prospects.”
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