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LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker
La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
LVMH has taken a minority stake in La Joux-Perret, a watch movement manufacturer that Citizen Group acquired in 2012. (Photo courtesy of Citizen Group)
Editor’s note: This story was updated post-publication to include a quote from Jeffrey Cohen, president of Citizen Watch America.
Tokyo—LVMH has taken a minority stake in Citizen Group-owned movement maker La Joux-Perret, the companies announced earlier this month.
Based in La Chaux-de-Fonds, Switzerland, La Joux-Perret is a manufacturer of mechanical and solar quartz watch movements that’s been around for more than 20 years and employs about 140 people.
Citizen Group acquired the company in 2012.
La Joux-Perret makes movements for some of the most well-known Swiss and international watch brands; it has been supplying TAG Heuer and Tiffany & Co., both LVMH brands, with solar quartz movements since 2022.
LVMH’s investment in the company will mean that La Joux-Perret’s solar quartz movements will be used in more of its watch brands.
It also guarantees the company access to a steady, reliable supply of high-quality movements.
In addition to TAG Heuer and Tiffany & Co., LVMH’s watch portfolio includes Hublot and Zenith.
“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,” said Jean-Christophe Babin, who was appointed CEO of LVMH Watches earlier this year.
“Together, we aim to lead the way in sustainable high-precision watch movements, leveraging our unmatched expertise in solar energy.”
Related stories will be right here …
Tokyo—LVMH has taken a minority stake in Citizen Group-owned movement maker La Joux-Perret, the companies announced earlier this month.
Based in La Chaux-de-Fonds, Switzerland, La Joux-Perret is a manufacturer of mechanical and solar quartz watch movements that’s been around for more than 20 years and employs about 140 people.
Citizen Group acquired the company in 2012.
La Joux-Perret makes movements for some of the most well-known Swiss and international watch brands; it has been supplying TAG Heuer and Tiffany & Co., both LVMH brands, with solar quartz movements since 2022.
LVMH’s investment in the company will mean that La Joux-Perret’s solar quartz movements will be used in more of its watch brands.
It also guarantees the company access to a steady, reliable supply of high-quality movements.
In addition to TAG Heuer and Tiffany & Co., LVMH’s watch portfolio includes Hublot and Zenith.
“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,” said Jean-Christophe Babin, who was appointed CEO of LVMH Watches earlier this year.
“Together, we aim to lead the way in sustainable high-precision watch movements, leveraging our unmatched expertise in solar energy.”
For Citizen Group, LVMH’s investment enhances La Joux-Perret’s reputation and standing within the watch industry and gives it the opportunity to grow.
“We are delighted to welcome LVMH to the capital of La Joux-Perret and to celebrate the reinforcement of their commercial relationship,” Citizen Group President and CEO Yoshitaka Oji said.
“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.”
Jeffrey Cohen, president of Citizen Watch America, said LVMH’s decision to invest in La Joux-Perret underscores the growing global appreciation for “true watchmaking excellence” and recognizes the technical expertise and creativity La Joux-Perret brings to the industry.
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