LVMH Watches Acquires Stake in La Joux-Perret

On Tuesday 12 November, LVMH's Watches Division announced that it had acquired a minority stake in La Joux-Perret, the amount of which has not been disclosed. Based in La Chaux-de-Fonds, Switzerland, this subcontractor employs more than 140 people. It specialises in the design and production of high-quality movements for numerous watch brands, including Frédérique Constant (Citizen Group), Angélus and Arnold & Son, among others.

Owned by the Japanese Citizen Group, La Joux-Perret has been supplying TAG Heuer since 2022 with solar quartz movements for the Aquaracer and TAG Heuer Formula 1 models. This acquisition is strategic for the LVMH group, as it will enable it to secure the long-term supply of its movements. The LVMH Montres division owns several prestigious watch brands (Hublot, Zenith, TAG Heuer and Bulgari), all of which are vertically integrated in their production.

However, this acquisition of a stake in the company will enable it to meet demand for quartz movements for more affordable models and, potentially, to equip future women's models for the group's brands, particularly TAG Heuer, whose range of women's models is still limited today.

Upon the announcement of this acquisition, the president of the division, Jean-Christophe Babin, stated: ‘We are delighted to strengthen our ties with La Joux-Perret. Their technical expertise, industrial excellence and deep roots in the Swiss watchmaking industry make them an ideal partner for our watchmaking Houses. Together, we will be at the forefront of sustainability in terms of high-precision watch movements thanks to our unrivalled expertise in solar energy.’ Yoshitaka Oji, President and CEO of Citizen Watch Group, added: "We are delighted to welcome LVMH as a shareholder in La Joux-Perret and to celebrate the strengthening of our business relationship.

This investment, along with the strategic commercial agreement concluded with a key partner, confirms La Joux-Perret's expertise and provides a powerful lever to accelerate its long-term development. Bolstered by this consolidated partnership, La Joux-Perret reaffirms its commitment to developing and producing movements of exceptional quality, while contributing, alongside the LVMH group, to the development of the Swiss watch industry."

For the past two years, the Swiss watch industry has been facing a decline in Chinese demand and a slowdown in exports. As a result, many manufacturers owned by Swiss watch brands have had to switch to reduced working hours (RHT). On this point, the State Secretariat for Economic Affairs (SECO) recently announced that the maximum period for receiving RHT compensation will be extended to 24 months from 1 November 2025 to 31 July 2026.