Chopard expands into hotels acquiring Parisian property

Swiss luxury jeweller Chopard, a family owned company, has recently acquired the Hôtel de Vendôme in Paris. Situated at number
1, Place Vendôme, the building was erected in 1723 and has been housing a 5 star hotel which features 29 rooms, including 10 suites. The value of the transaction has not been disclosed.

France is a very important market for Chopard, the company operating operates 7 boutiques altogether. The Parisian flagship store of Chopard is situated on the groundfloor of the newly acquired building.

Other luxury groups have also been diversifying into hotels – LVMH Group with the Cheval Blanc and Bvlgari brands, Salvatore Ferragamo Group with Lungarno Hotels, Armani Group with Armani Hotels.

According to consultancy firm Vontobel, Chopard sales in 2013 surpassed 700 million euros of which 65% was made up of watches and 35% of jewellery.

Hotel de Vendome in Paris acquired by Chopard