Citizen sells stake in watch movement specialist La Joux-Perret to LVMH
LVMH's watch division has announced the acquisition of a minority stake in La Joux-Perret. The Swiss company specializes in the development and manufacture of sophisticated watch movements and was acquired by the Japanese Citizen Group in 2012.
In parallel, LVMH has entered into a strategic trading partnership with Citizen to open up new production and innovation capacities for all watch brands of the French group.
They have been working with La Joux-Perret for several years on a Swiss-made solar quartz movement, which is used in the TAG Heuer collections „Aquaracer“ and „Formula 1“.
The partnership also extends to the development of a movement that powers the Tiffany & Co. „Rope“ watch and will be further developed with other brands in the LVMH group.
La Joux-Perret will continue to offer its expertise and customer service to its existing and future customers while maintaining its full independence, and the Citizen Group, as owner of La Joux-Perret, will continue to manage the company independently.
Jean-Christophe Babin, CEO of LVMH's watch division, comments:
„We are delighted to intensify our collaboration with La Joux-Perret. Their technical expertise, industrial excellence, and deep roots in the Swiss watch industry make them an ideal partner for our watch brands. Together, we aim to take a leading role in sustainable, high-precision watch movements, leveraging our unparalleled expertise in solar energy.“
Yoshitaka Oji, President and CEO of the Citizen Watch Group, adds:
„We are delighted to welcome LVMH to La Joux-Perret and to celebrate the strengthening of our business relationship. This strategic alliance with an important partner confirms the recognition of our expertise and opens up new long-term development prospects. Thanks to this solidified partnership, La Joux-Perret will deliver watch movements of outstanding performance and, together with the LVMH Group, contribute to the further development of the Swiss watch industry.“
About La Joux-Perret
The expertise of the La Joux-Perret manufacture, based in La Chaux-de-Fonds and employing around 140 people, encompasses the development of automatic movements, complications, and high-precision solar quartz movements.
As a supplier to renowned watch manufacturers, the company stands for tradition and innovation alike, covering the entire value chain:
from development to final assembly, including the production and finishing of our own watch movements.
