HUBLOT - Swiss watchmaker Hublot acquired by LVMH

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Swiss watchmaker Hublot acquired by LVMH

In an extraordinary move, LVMH Moet Hennessy Louis Vuitton, the worlds leading luxury Group, has just announced that it has signed an agreement to acquire the Geneva-headquartered Hublot Group, a high-end range watchmaker riding the crest of very strong growth. 

LVMH will acquire Hublot from Carlo Crocco, who founded the premium brand in 1980 and a company controlled by the irrepressible Jean-Claude Biver, who has managed Hublot since 2004. 

I am happy that Hublot, an innovative brand since its creation is joining the LVMH Group, the world leader in luxury goods whose creative passion is beyond doubt, said Carlo Crocco, Hublots founder in comments on the recent acquisition. 

Jean-Claude Biver, the architect of the success of the Big Bang collection and recent strong growth of Hublot commented: I am delighted that Hublot will be able to benefit from LVMHs support and strategic leadership in the luxury goods industry and this will enable us to maximize our own growth potential in the years to come. 

Philippe Pascal, CEO, LVMHs Watches & Jewellery Business Group added: Hublot is a strategic and an important acquisition. Its high-end positioning, selective distribution, financial performance and growth potential make Hubot a rising star. We are happy to welcome Mr. Biver along with the dynamic management team from Hublot and look forward to continuing this remarkable journey together. 

Hublot is a brand that is highly complementary to LVMHs existing watch portfolio comprising TAG Heuer, the world leader in prestigious sports watches and chronographs; Zenith, Dior Montres, Louis Vuitton watches sold exclusively in Louis Vuitton stores and the watch collections of jewellers Chaumet, Fred and De Beers. 

Hublot, renowned for its iconic Big Bang collection, offers a range of exceptional watches that are innovative, differentiated and combining fusions of materials, alloys, precious metals (gold, platinum), technological metals (titanium, tantalum), ceramics, diamonds and natural rubber. Recently, Hublot launched a new Big Bang collection for women at Baselworld 2008. 

Hublots well balanced geographic footprint spans worldwide and the company has registered strong growth in the Middle East, the Far East, North America and key European markets.