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Richemont Buys Remaining 40% of Watchmaker Roger Dubuis
Feb 2, 2016 3:54 AM
By Rapaport News
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RAPAPORT... Switzerland-based luxury group Richemont acquired the 40 percent of watchmaker Roger Dubuis it did not already own, Reuters reported.
"We now own 100 percent of Roger Dubuis," the news agency cited Richemont spokeswoman Sophie Cagnard as saying. Richemont and Roger Dubuis declined to comment on the sale price, the report said January 22. Richemont purchased a 60 percent stake in 2008.
Poor demand for timepieces and a struggling Swiss watchmaker industry is likely to result in more names in the sector being snapped up by larger companies, Reuters cited analysts as saying. The Swiss watch-export trade suffered in most of 2015, dropping 4 percent in the latest figures from December.
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Tags:
Rapaport News, Richemont, Roger Dubuis, watches
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