Richemont acquires VVSATuesday, 02 October 2012
Richemont, the Swiss luxury goods group has acquired 100 percent of the capital of VVSA
in a private transaction with the shareholder group. Based in Delémont since 1962, VVSA is a high-end manufacturer of stamped exterior components for watches, gold refiner and producer of semi-finished precious metal products destined for the watch and jewellery industry.
A historical partner of Richemont, VVSA and its 250 employees will reinforce the group’s industrial capabilities via their established technical know-how and state-of-the-art equipment. The current Directors of VVSA, Damien Donzé, Alain Munier and Béat Chételat, have confirmed their commitment to manage the company, which will continue to serve its existing clients.
The transaction will have no material impact on Richemont’s consolidated net assets and is not expected to have any impact on the Group’s profitability for the year ending 31 March 2013.
Richemont, headquarterd in Geneva, Switzerland, owns a portfolio of leading international brands, which are managed independently. The businesses operate in five areas: as jewellery brands Cartier and Van Cleef & Arpels; as specialist watchmakers A. Lange & Söhne, Baume & Mercier, IWC, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and others, which include Alfred Dunhill, Chloé, Lancel and Net-a-Porter.