Luxury Studies: Luxury goods empire LVMH buys Swiss watchmaker Hublot for undisclosed amount

By Imperial Hotel Management College -

PARIS - LVMH Moet Hennessy Louis Vuitton, the French luxury goods empire, says it has agreed to buy high-end Swiss watchmaker Hublot group for an undisclosed amount.

LVMH says in a statement Hublot will complement its watch brands TAG Heuer, Louis Vuitton, Dior Montres and watches sold under the jewelry brands Chaument, Fred and De Beers.

Selling watches as expensive as $478,200, Hublot generated sales of $147 million last year.

It is expected to report a "very significant" increase in revenue this year, LVMH said.

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