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Richemont SA has bought a 60.0 % stake in Geneva-based watchmaker Roger Dubuis SA. In a mailed statement, Richemont said that the purchase from Dubuis shareholder Carlos Dias will have no material effect on net assets, nor will it have a significant impact on profitability for the financial year through March 2008. Richemont also confirmed that the purchased unit will continue to operate under the Dubuis name.
Following the takeover, Richemont has appointed Matthias Schuler, formerly COO of IWC, as the CEO of manufacture Roger Dubuis SA.