National Jeweler Network

Market Developments

Chopard enters hotel business in Paris

May 12, 2014


Chopard has a total of seven boutiques in France, which “represents a significant market for the brand,” the company said. One boutique is located at the Hôtel de Vendôme, which Chopard just purchased.

Paris--Chopard announced Friday that it has purchased Union Hôtelière Parisienne, the company that owns the luxury five-star Hôtel de Vendôme in Paris.

The Hôtel de Vendôme is located at 1 Place Vendôme, a world-famous square that is known for its shopping, hotels and jewelry and watch stores, including Boucheron, Mauboussin, Van Cleef & Arpels and Bulgari, among others.

Chopard’s flagship boutique has been located on the ground floor of the Hôtel de Vendôme for a decade. The 29-room hotel was built in 1723.

The Geneva-based watch and jewelry brand said it is planning future investments.

“The restaurant, on the first floor, enjoys a very good reputation, and possibilities of synergies between the two worlds are numerous,” Chopard said.

Chopard remains a standalone company in a time when many jewelry and watch brands are part of larger companies that own a number of brands.

For example, Kering (formerly PPR) owns Boucheron, Girard-Perregaux, JeanRichard and Pomellato, while LVMH Moët Hennessey Louis Vuitton includes Bulgari, Zenith, TAG Heuer and Hublot.

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In addition, the Judith Ripka brand recently was sold to Xcel Brands Inc., a New York-based brand management company that also owns Liz Claiborne New York and Isaac Mizrahi New York.