Company producing 350,000 dials a year taken over for undisclosed sum.
Louis Vuitton Moet Hennessy (LVMH), the luxury conglomerate that operates jewellery and watch brands including De Beers, TAG Heuer and Hublot has acquired a 100% stake in ArteCad, a Swiss watch dial manufactory.
The takeover has been described as a move to further integrate LVMH into the Swiss watch industry. At present, LVMH already manufactures a number of in-house mechanical movements, cases, dials and bracelets.
ArteCad was bought out by LVMH, who had no previous financial interest in the company, from two private owners.
The Swiss watch dial manufactory was founded in 1885 and employs 215 people. It produces 350,000 dials a year, working on behalf of a number of luxury Swiss watch brands. It will continue to work with its previous clientele, as well as the LVMH group.
ArteCad specialises in a number of areas including rapid prototyping and the creation of machined centres, dial painting, decal positions and the application of Superluminova.
The company has been owned by Philip Hubbard and Christopher Gouthier since 2004.