ITALY. Bulgari has acquired a 50% stake in Cadrans Design, a Swiss company leader in the production of “sophisticated and avant-garde” dials for high-end watch brands.
Laurent Ryser, founder and head of Cadrans Design, will hold the other 50% of the company and will continue to head it. The firm will also continue to supply other high-end watchmakers. Cadrans Design reached a turnover of about SFr3 million in 2004.
The acquisition, finalised yesterday, will give Bulgari greater efficiency in purchasing and faster production of complicated and high-end watches.
Bulgari Group CEO Francesco Trapani said: “I am very satisfied with the agreement signed today [Monday], as throughout our collaboration with Cadrans Design we have had the chance to experience and appreciate its ability and strong know-how in the production of very prestigious dials.
“This operation also confirms the commitment of the Bulgari Group for a strategy of vertical integration in the watchmaking sector, already started successfully some time ago, with a constant attention to the high quality and the optimisation of production processes and, thanks to the strong group’s financial means, it is also an opportunity for Cadrans Design to continue to progress in the development of the company.”
Bulgari has three watch brands – Bulgari, Daniel Roth and Gerald Genta. In 2004, family-owned Bulgari Group posted a turnover of €828 million, with net profit of €108 million.
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