International Luxury Group buys French watch-maker Saint Honoré Paris
Oct 26, 2018
International Luxury Group (ILG) has bought French watch-maker Saint Honoré Paris for an undisclosed sum. ILG is based in Switzerland, and specialises in the licensed distribution of watches, luxury accessories and eyewear. The acquisition of this long-established French manufacturer brings to ILG, besides Saint Honoré Paris’ brand name and expertise, also two manufacturing sites, in La Chaux-de-Fonds, Switzerland, and Charquemont, France.
Saint Honoré Paris was founded in 1885 in Charquemont, and has based its success on Swiss manufacturing quality and French sophistication. Its range features men's and women’s watches with an elegant Parisian feel at affordable prices for this type of product, between €390 and €1,000. The limited-edition ‘Tour Eiffel’ models by Saint Honoré Paris, made with metal from the legendary Parisian landmark, are among the brand’s most sought-after watches and have become genuine collector items.
Saint Honoré Paris is a family company which, leveraging its French roots and Swiss know-how, also expanded on international markets. It is currently present in over 60 countries, notably in Europe, Asia and the Middle East, and is distributed via about 1,500 specialised retailers. In today’s highly competitive environment, a medium-sized, independent company like Saint Honoré Paris opted for an alliance with a more powerful entity to drive its centuries-old heritage forward.
“The future of Saint Honoré Paris is promising. I’m convinced that, with ILG, [Saint Honoré Paris] will strengthen its position worldwide and will continue to strive for innovation, while remaining loyal to its rich watch-making heritage,” said Thierry Fresard, the French watch-maker’s general manager, in a press release. Fresard will continue to lead Saint Honoré Paris as part of ILG.
Through ILG, Saint Honoré Paris will notably benefit from a worldwide distribution and logistics network extending across Europe, the Middle East, Asia, the Americas and Australia, and reaching over 22,000 retailers in 90 countries.
ILG generates a revenue of over $1 billion, and is regarded as one of the industry’s leading European players. It is active in the design, manufacturing (in Switzerland and Asia) and distribution of watches, eyewear and accessories (jewellery, pens, key holders, etc.) for several brands.
In terms of watches, ILG has a strong licence portfolio, featuring luxury labels like Cerruti 1881 and Aigner, as well as mid-market brands like Ben Sherman, Police, French Connection, Gant, Superdry, Timberland, Cath Kidston, Daisy Dixon and Swiss label Hanowa.
“Saint Honoré Paris is the perfect addition to International Luxury Group's growing portfolio of brands,” said the group’s CEO Naresh Chainani.
Copyright © 2020 FashionNetwork.com All rights reserved.