LVMH Acquires Stake in Movement Maker La Joux-Perret
The world’s largest luxury group, Moët Hennessy Louis Vuitton (LVMH), just announced that it has taken a minority stake in Swiss movement manufacturer La Joux-Perret, an important supplier to the group’s watch brands as well as the industry at large. Owned by Citizen of Japan, La Joux-Perret also controls a few of its own brands, including Arnold & Son and Angelus, that will remain independent. The solar-powered TAG Heuer Formula 1 that relies on technology licensed from Citizen Initial thoughts LVMH’s investment in La Joux-Perret marks a logical next step in its long-term effort to consolidate movement production within the group. Such arrangements are becoming increasingly common - Hermès and Chanel, for instance, have taken similar minority stakes in movement makers Vaucher and Kenissi, respectively. LVMH, which owns TAG Heuer, Bulgari, Zenith, Hublot, and of course Louis Vuitton, had already hinted at this direction. Last year, Frédéric Arnault, son of Bernard Arnault and then the head of LVMH’s watch division, proposed expanding Zenith’s manufacture to supply movements to other group brands. That plan has been partly realised with Zenith now producing Bulgari’s Solotempo calibre. However, the idea of Zenith supplying a high-volume brand like TAG Heuer always seemed unlikely, which helps explain this latest move. La Joux-Perret’s solar technology for movements is particularly important to TAG Heuer, the most important watch brand in LVMH in terms o...
Time+Tide
