LVMH buys high-end watches manufacturer
After PPR’s acquisition of luxury Swiss watches group Sowind last week, it is now LVMH’s turn to make a similarly important acquisition. LVMH bought Swiss haute horologerie manufacturing atelier La Fabrique du Temps, based in Geneva. La Fabrique du Temps has been manufacturing movement mechanisms for high end luxury watches. Despite the acquisition, the company says it will honor its existing contracts.