Luxury goods group Richemont has acquired a controlling interest in watch company Manufacture Roger Dubuis in a private transaction with Carlos Dias, one of the founding shareholders.
The Swiss-based watchmaker will continue to manufacture and distribute watches under the "Roger Dubuis" name and will operate as an autonomous "Maison" within Richemont. It will benefit from the family-owned business's superior distribution channels.
"Roger Dubuis watches are highly innovative in terms of movements and design," said Johann Rupert (pictured), Richemont's executive chairman and son of founder Anton Rupert.
"As a young business, it is very different from the more established specialist watchmakers within the Group today … and we look forward to developing the Roger Dubuis business internationally."
Richemont's says the acquisition will have no material impact on the business's consolidated net assets and is not expected to have any significant impact on the Group's overall profitability for this year.
Richemont owns a portfolio of leading international brands or "Maisons", which are managed independently of one another. Located in the spheres of jewellery, watchmakers, writing instrument manufacturers, leather and accessories, and other businesses such as Chloé fashion house, the family business has revenues in excess of $5 billion.
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