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Swiss conglomerate Richemont now has 100 percent ownership of watchmaker Roger Dubuis, after buying out the 40 percent of shares it did not already own.
Richemont has had a controlling interest in the brand for almost eight years, but this gives the group full control over the relatively young watchmaker. According to Reuters, this buyout is just another sign that points to future consolidation within the watch industry.
In 2008, Richemont acquired 60 percent interest in Roger Dubuis in a private deal with founding shareholder Carlos Dias. At the time of the transaction, Richemont said that the watchmaker would function as an “autonomous maison” within its stable, but mentioned that it would benefit from the group’s distribution.