Luxury brand buys watchmaking company for undisclosed amount.
LVMH-owned luxury jewellery and watch brand Louis Vuitton has acquired La Fabrique du Temps, the Geneva-based watchmaking workshop.
The company announced the takeover on July 7. La Fabrique du Temps’ workshop specializes in the design and fabrication of high quality movements, such as tourbillons and minute repeaters. The deal has taken place for an undisclosed amount.
Louis Vuitton and La Fabrique du Temps have previously worked together, after the company was founded in 2007. Fabrique due Temps will continue to service its external clients.
A statement from Louis Vuitton read: “This decision has been made in conformity with Louis Vuitton’s strategy of always choosing the best pools of expertise to manufacture its products.”
The news comes on the heels of the announcement that the Sowind Group, a Swiss watchmaker whose brands include Girard-Perregaux and JeanRichard, has been acquired by French luxury conglomerate PPR.
Louis Vuitton sold its first watch in 2002 and further developed its watch operations in 2008, the same year that LVMH acquired Hublot, which has become since the fastest-growing luxury watch brand within the group.