Fresh in the press, Richemont acquires Minerva… There goes their independancy, but here comes (most likely) watches!! Finally, in the end individuals prototyping, whispers etc… this may??be their opportunity to fight themselves back available on the market.
This is actually the article because it was released today on superwatchesuk.com:
“Richemont, the Swiss luxury goods group, is very happy to announce it has acquired Fabrique d???Horlogerie Minerva SA inside a private transaction from G. P. P. Worldwide SA, Luxembourg.
The timepiece brand Minerva was established by Panerai Power Reserve Charles Robert in 1858 and it is located in Villeret, Europe. It’s 22 employees and it is today focused on the expansion and manufacturing of top end mechanical actions.
The transaction may have no material effect on Richemont’s consolidated internet assets and won’t have effect on profitability for that year ending 31 March 2007.
Richemont is the owner of a portfolio of leading worldwide brands or ???Maisons???, that are handled individually of each other, identifying their individuality and originality. The companies be employed in five areas: Jewelry Maisons, being Cartier and Van Cleef & Arpels Specialist watchmakers, which consists of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai along with a. Lange & S??hne Writing instrument Maisons – Montblanc and Montegrappa Leather and add-ons Maisons, being Alfred Dunhill and Lancel along with other companies, including, particularly, Chlo?? along with other more compact Maisons watching component manufacturing activities for organizations.
Additionally to the luxury goods business, Richemont holds an 18.6 percent curiosity about British American Tobacco.”
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