Paris, 24 April 2008
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury group, announces that it has signed an agreement to acquire the Hublot group, a top of the range watchmaker enjoying very strong growth.
LVMH will acquire Hublot from Mr Carlo Crocco, who founded the group in 1980, and a company controlled by Mr Jean-Claude Biver, who has managed ublot since 2004.
Hublot is a brand that is highly complementary to LVMH’s existing watch portfolio comprising TAG Heuer, the world leader in prestigious sport watches and chronographs, the Swiss Watch Manufacturer Zenith, Dior Montres, Louis Vuitton watches sold exclusively in Louis Vuitton stores, and the watch collections of jewellers Chaumet, Fred and De Beers.
Strong growth potential
Hublot, which has its headquarters and workshops near Geneva, has started building a factory at Nyon to accommodate its expansion plans. Having grown at a rapid pace since 2004, the brand achieved net revenue of more than CHF150 million in 2007 with an excellent profitability. A very significant increase in revenue is expected in 2008.
Today, Hublot has a very selective and efficient distribution network which is limited to 300 stores worldwide.
Hublot has a well-balanced geographic footprint spanning Switzerland, Spain, France, Germany, the US, Latin America, Middle East, Russia, Japan, Hong Kong, Singapore… The brand has recently been launched in China and India and has strong growth potential in Asia, Japan, North America and in certain European markets.
Exceptional watches and chronographs
Hublot offers ranges of exceptional quality watches that are innovative, very differentiated and combining fusions of materials, precious metals, (gold, platinum,…) technological metals (titanium, tantalum…), ceramics, diamonds and natural rubber.
The renowned Big Bang collection includes models equipped with automatic movements whose prices range from €8,000 (steel and ceramic) to over €300,000, integrating precious metals and technical complexity.
A new Big Bang collection for women was launched at the last Basel watch fair with great success.
Finally, the traditional classic line has been recently redesigned using natural rubber, zircon, gold and ceramics.
Carlo Crocco, founder of Hublot, said : “I am happy that Hublot, an innovative brand since is creation, is joining the LVMH group, the world leader in luxury goods, whose creative passion is without any doubt a value that I have always shared.”
Jean-Claude Biver, the architect of the success of the Big Bang collection and the recent strong growth of Hublot, commented: “I am delighted that Hublot will be able to benefit from LVMH’s support and strategic leadership in the luxury goods industry and so maximise its growth potential in the years to come. I am happy to be pursuing this adventure and to be able to contribute to the development of LVMH’s watchmaking division alongside Philippe Pascal.”
Philippe Pascal, Chief Executive Officer of LVMH’s Watches & Jewelry business group, added: “Hublot is a strategic and very complementary acquisition. Its high-end positioning, selective distribution, financial performance and growth potential make Hublot a ‘rising star’. Hublot will strengthen our Watches & Jewelry business group which, over the last three years, has been growing strongly. We are very happy that Jean-Claude Biver will, along with the management team of Hublot, continue on this remarkable journey and contribute his considerable expertise to our development in this promising sector.”
Info via Watchluxus.com
Showing posts with label Hublot. Show all posts
Showing posts with label Hublot. Show all posts
Thursday, April 24, 2008
Tuesday, April 22, 2008
2008 BaselWorld and SIHH: Horology Market Impressions
2008 BaselWorld and SIHH Impressions
These are in short some of the most prevalent impressions of market trends that I noticed & few of my humble opinions that I would dare to contemplate at this time:
- new various complications by majority of industry in my humble observation for the sake of public shock and awe or as some would say bragging rights rather then for the true sake of practical (if not just useful) horology innovations (excluding a few honorable mentions)
- again like last year prevalent usage of unusual materials (alusic, zenithium, hublonium, tantalum, magnesium, ceramic and lithium) prevalent on the case aesthetic side and to some extent in the movement side of watch making. Definite trend in the across board contribution of all non traditional watch materials, but with notable addition of practical usage of the movement side of things (silicum balance spring, easium carbonitride, ceramic ball-bearings, etc)
- steel and gold seems are no longer the prevailing big guns of the watchmaking arsenal. Brands are continuing to venture down this less-trodden path (from last years bronze of Genta, forged carbon of AP, fusion of materials of Hublot, rusted Titanic steel of Romain Jerome, etc) to new dimensions of materials that were borrowed from many different sectors and in some instances R&D’ed on their own. More on this at a later time.
- reissue of older venerable names of the past as new years models. Some executed perfectly (like the Tribute to Polaris by MJLC) and some following the lead and utilizing it as a new strategy to a lesser extent (IMO Longines and to some extent IWC).
- demand for larger cases is still prevalent even though there is a some easing of that pressure across the board by the resurgence of movement towards less “flashy” if not more restrained case sizes.
- importance of focus on the new “emerging economies” markets (China, Russia, India and Middle East) over the “traditional” markets of Europe and US especially in regards to the top level market segment pieces.
- continuing development into the “bling” segment of horology development due to insatiable appetites of the “nouveaux riches” customers whose rise from common poverty left an ongoing rising demand to show off their newfound riches.
- continuing increase in the average cost of the watches across the segment thus making the accessibility of this hobby of ours further out of reach for many especially when considering the higher brackets of Haute Horology.
More in depth analysis of market, respective brands, selective models and imperative points we are faced to follow.
These are in short some of the most prevalent impressions of market trends that I noticed & few of my humble opinions that I would dare to contemplate at this time:
- new various complications by majority of industry in my humble observation for the sake of public shock and awe or as some would say bragging rights rather then for the true sake of practical (if not just useful) horology innovations (excluding a few honorable mentions)
- again like last year prevalent usage of unusual materials (alusic, zenithium, hublonium, tantalum, magnesium, ceramic and lithium) prevalent on the case aesthetic side and to some extent in the movement side of watch making. Definite trend in the across board contribution of all non traditional watch materials, but with notable addition of practical usage of the movement side of things (silicum balance spring, easium carbonitride, ceramic ball-bearings, etc)
- steel and gold seems are no longer the prevailing big guns of the watchmaking arsenal. Brands are continuing to venture down this less-trodden path (from last years bronze of Genta, forged carbon of AP, fusion of materials of Hublot, rusted Titanic steel of Romain Jerome, etc) to new dimensions of materials that were borrowed from many different sectors and in some instances R&D’ed on their own. More on this at a later time.
- reissue of older venerable names of the past as new years models. Some executed perfectly (like the Tribute to Polaris by MJLC) and some following the lead and utilizing it as a new strategy to a lesser extent (IMO Longines and to some extent IWC).
- demand for larger cases is still prevalent even though there is a some easing of that pressure across the board by the resurgence of movement towards less “flashy” if not more restrained case sizes.
- importance of focus on the new “emerging economies” markets (China, Russia, India and Middle East) over the “traditional” markets of Europe and US especially in regards to the top level market segment pieces.
- continuing development into the “bling” segment of horology development due to insatiable appetites of the “nouveaux riches” customers whose rise from common poverty left an ongoing rising demand to show off their newfound riches.
- continuing increase in the average cost of the watches across the segment thus making the accessibility of this hobby of ours further out of reach for many especially when considering the higher brackets of Haute Horology.
More in depth analysis of market, respective brands, selective models and imperative points we are faced to follow.
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