Although the Swiss luxury group is yet to release a public statement on the subject, insiders in the luxury sector claim that conversations are underway over a potential management buyout of the historic watchmaker.
According to luxury industry newsletter, MissTweed, the potential takeover would be coordinated by Jaeger-LeCoultre CEO Jérôme Lambert and funded by a group of investors.
Per the newsletter, several individuals involved with the discussions say Lambert would personally participate in the acquisition, combining management ownership with long-term strategic leadership of the brand.
The acquisition is reported to be worth more than CHF 1 billion to Jaeger-LeCoultre, reflecting both the company’s pedigree and its position in the high-end Swiss watch market.
Jaeger-LeCoultre
Jaeger-LeCoultre is one of Switzerland’s most prestigious luxury watchmakers, known worldwide for its technological innovation and high-end mechanical workmanship.
The firm was founded in 1833 by Antoine LeCoultre in Le Sentier, Switzerland, and has established its name on precise engineering and creativity.
Over the years, it has created more than 1,200 calibers and obtained over 400 patents.
A watershed moment occurred in 2000, when Jaeger-LeCoultre became a completely owned subsidiary of Compagnie Financière Richemont.
The acquisition increased its global reach while allowing it to keep its reputation as a high-end watchmaker.
Sale of Baume & Mercier
The deal demonstrated Richemont’s readiness to actively rebalance its watch portfolio.
In a joint statement released at the time, Richemont and Damiani stated, “Richemont and the Damiani Group believe that Baume & Mercier’s long-term potential will be best realized as part of the Damiani Group, given the Maison’s strong footprint in Italy, its predominantly multi-brand wholesale distribution model and its accessible positioning in the luxury watch segment.
It also added, “as part of its strategy to ensure Baume & Mercier’s long-term success, the Damiani Group intends to enhance the Maison’s visibility and reach by leveraging its own extensive multi-brand distribution network and opening select mono-brand boutiques in strategic locations over time.”
