LVMH Moet Hennessy Louis Vuitton, the world’s leading luxury Group, has just announced that it has signed an agreement to acquire the Hublot Group, a high-end range watchmaker riding the crest of very strong growth.
LVMH will acquire Hublot from Carlo Crocco, Founder-Chairman who established the premium brand in 1980 and a company partly controlled by the veteran Jean-Claude Biver, CEO, who has managed Hublot since 2004.
Key officials from both Hublot and LVMH unanimously welcomed the merger. In separate statements released, Founder-Chairman Carlo Crocco, CEO Jean-Claude Biver and Philippe Pascal, CEO, LVMH’s Watches & Jewellery Business Group expressed their appreciation of the deal and expressed their eagerness to work closely with each other to ensure mutual growth and further advancement of the watch brand and the holding company.
Hublot, renowned for its iconic Big Bang collection, offers a range of exceptional watches made from ingeniously fused materials. Recently, Hublot launched a new Big Bang collection for women at Baselworld 2008.
Hublot’s growing footprint spans worldwide and the company has registered strong growth in the Middle East, the Far East, North America and key European markets.