LVMH Picks Up Hublot
Luxury behemoth LVMH has a new watchmaker in their growing watches and jewelry unit. They have announced that they will acquire Switzerland's Hublot watch group from the founder Carlo Crocco and a firm controlled by Jean-Claude Biver, who's managed the brand since 2004.
LVMH already owns several successful watch brands including TAG Heuer, Zenith, Dior Montres and Louis Vuitton watches. LVMH has announced plans to increase the brand's profile in Asia and Japan and expand retail distribution. Currently the watches are sold in 300 stores worldwide. Hopefully they won't dilute the brand too much, part of Hublot's power is that that they do a particular type of big beefy watch, the Big Bang, so well. The Hublot fans on the Time Zone Hublot forum definitely are excited about this move for Hublot.