Editor’s Note
This article discusses a significant personal investment by Bernard Arnault in competitor Richemont. The original source is Bloomberg.
Bernard Arnault, the French magnate and owner of the LVMH group, has surprised the market by purchasing shares in Richemont, one of his main competitors. This is another major European luxury conglomerate, owner of high-end jewelry and watch brands such as Cartier, Vacheron Constantin, and Van Cleef & Arpels.
The move, reported by Bloomberg, was carried out with the utmost secrecy. The number of shares in the Swiss group acquired by Arnault is not known, although it is suggested to be a minority stake.
In any case, the operation carried out by the magnate was personal. It is said to be a financial investment. It would not be part of LVMH’s operations, which continues on its own roadmap, adding new brands to its portfolio.
Specifically, this week LVMH announced the acquisition of Swiza, owner of L’Epée 1839, a prestigious Swiss manufacturer of high-end watches. Among them, its table clocks stand out, which have been cataloged as authentic “works of art,” with exceptional mechanisms and complexities.
Based in Delémont, Switzerland, L’Epée 1839 has perpetuated exceptional watchmaking expertise for 185 years. The company was founded by Auguste L’Epée in the 19th century. Initially, it specialized in manufacturing watch components and was a pioneer in the production of music boxes.
Subsequently, it evolved to develop a range of cutting-edge clocks. First producing table clocks and then, throughout the 20th century, expanding its range of exclusive timepieces. In fact, it has undertaken partnerships and collaborations with major luxury brands, such as Tiffany itself.
Louis Vuitton also drew on the expertise of L’Epée 1839’s artisans to create a hot air balloon, a symbol commonly used by the maison.
On the other hand, in its attempt to diversify its businesses to the maximum, LVMH has also acquired one of Paris’s most famous century-old restaurants, Chez L’Ami Louis. A jewel of French gastronomy that since its founding in 1924 has become a reference for both Parisians and visitors to the city.
French and foreign celebrities have paraded through it, not missing the opportunity to taste its dishes. In fact, a few months ago, Rosalía stopped by this small bistro with only 12 tables, a favorite of Francis Ford Coppola, which maintains its traditional essence, to taste the iconic French snails.