Louis Vuitton buys workshop

By Doug Newhouse |

Louis Vuitton has announced the acquisition of ‘La Fabrique du Temps’, a high-end watchmaking workshop established in Geneva, which specialises in the creation and manufacture of high standard movements, such as Tourbillons and the Minute Repeater.

In a statement, the luxurygoods company said: “Founded in 2007, ‘La Fabrique du Temps’ has been a partner of Louis Vuitton since its creation. This acquisition will reinforce the watchmaking activity of Louis Vuitton, which opened in 2002, a workshop in La Chaux-de-Fonds, at the heart of the Swiss Jura, to produce movements, of which the Tambour watch is now the showcase and signature. 

“The integration of La Fabrique du Temps reflects Louis Vuitton’s desire to uphold the highest-quality standards for its watches and to further develop its know-how in the conception and perfection of movements. La Fabrique du Temps will continue to fulfil its commitments to its external clients.” 

‘BEST POOLS OF EXPERTISE’
The Louis Vuitton company says that the decision to buy the company is in line with its strategy of ‘always choosing the best pools of expertise to manufacture its products’.

Underlining this, the company said: “Thus, Louis Vuitton decided, in 2009, to reinforce its know-how on the production of high quality natural cowhides with the establishment of the ‘Tanneries de la Comète’ in Estaimbourg, Belgium. 

“The same year, Louis Vuitton tripled the size of its Shoes Manufacture in Fiesso d’Artico in the Veneto region with one of the highest reputation workshops worldwide for its craftsmanship in high standard shoe-making.”

Louis Vuitton’s latest acquisition comes less than week after rival luxurygoods company PPR acquired a majority holding in the Sowind Group watch company – in which it already held a 23% shareholding.

Huge demand for quality watches by Chinese buyers is said to be behind the desire of luxurygoods companies to buy up Swiss watch companies.

 

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