Company buys iconic Hôtel de Vendôme in diversification move.
The Chopard Group has strengthened its boutique store network in France through the acquisition of the Union Hôtelière Parisienne company (UHP), which owns the iconic Hôtel de Vendôme in Paris.
Through acquiring the five star hotel, which currently houses Chopard’s flagship boutique, the Group has kick started its long-term diversification project, according to an official press release.
Situated at number one, Place Vendôme, the Hôtel de Vendôme is ideally situated in the heart of Paris and comprises 29 rooms, including 10 suites.
The Geneva-based Group also hints at plans to work with the hotel’s restaurant, claining “synergies between the two worlds are numerous”.
Chopard currently has seven boutiques in France. The UHP transaction “represents a significant market for the brand. Present at Place Vendôme for over 10 years, the firm looks forward to further developing this gem of Parisian hotels,” reveals a press release.