News The Hermès group has announced the completion of an important new step in its watchmaking development strategy through a partnership with the Sandoz family Foundation. It takes the form of an agreement which will see Hermès International invest 25 million francs to acquire, through successive increases in capital, a 25% stake in the capital of Vaucher Manufacture Fleurier.
The company Vaucher Manufacture, owned by the Sandoz family Foundation, specialises in the design, production and assembly of mechanical movements for luxury watches in Fleurier. It supplies a limited number of prestigious brands, including Parmigiani. For its part the Hermès group, founded in 1837, designs, develops and markets high-quality products in fourteen segments, including saddlery, leather goods, scarves and ties, ready-to-wear fashion, tableware, jewellery, lifestyle products, perfumes and watches.
The Sandoz family Foundation is delighted to welcome a partner with complementary expertise. enabling Vaucher Manufacture to continue its strategy of growth on a par with superior quality. The operation marks the alliance of two companies with a strong culture, driven since their foundation by the same values of innovation, creation and independence.
This association strengthens the presence of Hermès in mechanical watchmaking and facilitates its access to a pool of exceptional know-how. It is perfectly in tune with the strategy of recruiting into the group recognised experts in their fields, such as shoemaker John Lobb, les Cristalleries de Saint-Louis, goldsmiths Puiforcat and weavers Perrin & fils.
November 07, 2006