LVMH invests in Citizen Group’s movement manufacturer

LVMH has acquired a minority stake in La Joux-Perret, a Swiss watch movement manufacturer owned by Citizen Group.

The acquisition includes is a strategic attempt to boost production and innovation for LVMH’s watch maisons: Hublot, TAG Heuer, and Zenith.

There is already a history between the two firms, including collaborating on the development of a successful solar quartz movement for TAG Heuer’s Aquaracer and Formula 1 collections.

As part of the new deal, the companies insist that La Joux-Perret will remain fully independent.    

Citizen Watch Group’s president, Yoshitaka Oji, said: “We are delighted to welcome LVMH to the capital of La Joux-Perret and to celebrate the reinforcement of their commercial relationship. This strategic alliance with a key partner confirms the recognition of its expertise and opens new long-term development prospects. With this solidified partnership, La Joux-Perret will supply movements with outstanding performance and, together with the LVMH Group, contribute to the development of the Swiss watch industry.”

Jean-Christophe Babin, CEO of LVMH watches division added: “We are pleased to strengthen our ties with La Joux-Perret. Their technical mastery, industrial excellence, and deep roots in the Swiss watchmaking landscape make it an ideal partner for our watchmaking Maisons. Together, we aim to lead the way in sustainable high-precision watch movements, leveraging our unmatched expertise in solar energy.”