Having become the world leader in jewelry at the beginning of January with the takeover of the American Tiffany, LVMH does not intend to stop there.
The group, which already owns Bulgari, Chaumet and Fred, is about to offer itself the exclusive right to use the Vendôme brand for
"any creation of a collection and products related to jewelry and watchmaking"
.
A strong symbol, obtained for the modest sum of 10,000 euros, well below the 15.8 billion dollars disbursed for Tiffany.
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Vendôme, and the eponymous square in Paris, has been THE reference for jewelry lovers for two centuries.
Something to make other players in the sector jealous, in particular Richemont, owner of Cartier, the world's leading jewelry brand, or even Van Cleef & Arpels and Piaget.
The group led by Johann Rupert has long been called… Vendôme Luxury Group.
To successfully snub the jewelers of Place Vendôme, LVMH took advantage of its links with the city of Vendôme (Loir-et-Cher).
This is where its Louis Vuitton subsidiary opened a leather goods workshop in September, in a former abbey in the Rochambeau district.
Another is under construction on the outskirts of the city, creating a total of 500 jobs.
This investment convinced the city council to approve the contract to sell the brand.
Louis Vuitton, which diversified into jewelry twenty years ago, is very attached to Place Vendôme.
In 2017, he opened one of his most beautiful boutiques there, replacing the Italian jeweler Buccellati, since acquired by… Richemont.