Louis Vuitton Buys Watchmaker

Louis Vuitton has acquired La Fabrique du Temps, the
Geneva-based watchmaking workshop, it announced on July 7.

The workshop specializes in the conception and fabrication
of high standard movements, such as Tourbillons and the Minute Repeater. La
Fabrique du Temps has worked with Louis Vuitton since its founding in 2007. It
will continue to service external clients, a company statement said.

“This decision has been made in conformity with Louis
Vuitton’s strategy of always choosing the best pools of expertise to
manufacture its products,” the statement added.

The news comes on the heels of the announcement that the Sowind
Group, a Swiss watchmaker whose brands include Girard-Perregaux and
JeanRichard, has been acquired by French luxury conglomerate PPR.
Louis Vuitton
is owned by a rival luxury conglomerate, LVMH.