|
Though no price was disclosed, industry sources estimate the cost at $77 million to $85 million.
Vacheron Constantin Replica Watches
Vacheron is the oldest continuously operating watch company making handcrafted timepieces. Its current production and illustrious past contribute to the inclusion of its timepieces in some of the world’s finest private collections and at watch auctions worldwide.
“The development of Vacheron Constantin will be pursued in accordance with the philosophy of the Vendome Group, which respects the identity, the individuality and the philosophy of each of its brands,” says Joseph Kanoui, president of Vendome.
The acquisition is good news for the Swiss watch industry, says Peter Laetsch, director of the New York office of the Federation of the Swiss Watch Industry. “I think Vacheron Constantin is in excellent hands with Vendome,” he says. (Vendome’s watch sales rose an estimated 13% in 1996.)
Vacheron Constantin Replica Watches
The acquisition is a continuation of a consolidation of the Swiss watch industry that started several years ago when SMH bought Blancpain and built it into a stronger brand with greater global reach and profile. A more recent example is the acquisition of Swiss watchmakers International Watch Co. and Jaeger-LeCoultre by Mannesmann, a large industrial company in Germany.
The purchase of Vacheron Constantin adds another jewel to the holdings of the Richemont Group, a Swiss holding company created by Richemont Securities of South Africa. Richemont owns 70% of Vendome, which was created in 1993 when Richemont, Dunhill International and Rothmans International joined forces.
| 
