LVMH to Buy Luxury Brands Ebel and Chaumet.PARIS--(BUSINESS WIRE)--October 20, 1999-- LVMH LVMH Moët Hennessy-Louis Vuitton (upscale retailer) , the world's leading luxury goods group, today announced the signing of binding agreements for the acquisition of luxury watch brands Ebel and Chaumet from Investcorp, the global investment group. Ebel, based in La Chaux-de-Fonds La Chaux-de-Fonds is the capital of the district of La Chaux-de-Fonds in the canton of Neuchâtel in Switzerland. , Switzerland, is one of Switzerland's leading international luxury watch brands. Its most successful lines include, amongst others, Sport Classic, 1911 and Beluga beluga (bəl  `gə) or white whale, small, toothed northern whale, Delphinapterus leucas. The beluga may reach a length of 19 ft (5. . Ebel recently launched the E-Type line to great reviews. The company also benefits from a solid manufacturing and assembly base in La Chaux-de-Fonds which allows its subsidiary PLD (Programmable Logic Device) Refers to a variety of logic chips that are programmable at the customer's site, the customer being the vendor of the finished chip, not the end user. to design and produce branded watches on behalf of third parties. Chaumet, based on Place Vendome in Paris, is one of France's most famous jewellery and watch brands, drawing on a distinguished heritage of craftsmanship. Chaumet currently operates flagship stores in Paris, London and Monte-Carlo, and is also available through leading speciality and department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. world-wide. Commenting on this double acquisition, Myron Ullman, Group Managing Director of LVMH, said: " We are very pleased to announce the acquisition of two very strong brands in luxury watch and jewellery sector. This puts LVMH well on track to build a leading watch group following our recent transaction with TAG Heuer TAG Heuer (pronounced: täg-hoi-er) is a Swiss watchmaker known for its mid - high range sports watches and chronographs. It is a division of leading luxury goods company LVMH. The company motto is "Swiss Avant-Garde Since 1860". . Ebel and Chaumet's respective brand positionings complement that of TAG Heuer very well." LVMH plans to continue developing the businesses, both of which will benefit from the scale of LVMH's operations and its expertise in the global marketing of luxury products. The transactions will become effective once regulatory approvals have been received. Yves Alexandre at Investcorp said: "This sale is a good step for both Ebel and Chaumet, as they will benefit from LVMH's undoubted strength and global distribution resources." Information on LVMH LVMH, the world's leading luxury goods group, produces and sells wines & spirits, fashion & leather goods, fragrances & cosmetics, and other luxury products, under brands which include Dom Perignon, Moet & Chandon, Veuve Clicquot Ponsardin, Krug, Pommery, Hennessy, Hine, Louis Vuitton, Loewe, Givenchy, Kenzo, Celine, Parfums Christian Dior Parfums Christian Dior is the make-up and perfumery line of Christian Dior SA, based on the company created by twentieth-century fashion designer Christian Dior. It was created in 1947 with the launch of Miss Dior perfume. , Guerlain, Sephora, Thomas Pink, Tag Heuer, Fendi and DFS (Distributed File System) An enhancement to Windows NT/2000 and 95/98 that allows files scattered across multiple servers to be treated as a single group. With Dfs, a network administrator can build a hierarchical file system that spans the organization's LANs and . Information on Investcorp Investcorp is a global investment group. To date, Investcorp has completed over 75 transactions with an aggregate value of approximately $14 billion. Investcorp and its clients currently own, all or a substantial portion of, 15 corporate investments in North America and Europe. |
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