Maurice Lacroix - DKSH strengthens its Luxury business
DKSH continues its focused strategic growth course for its Luxury & Lifestyle business. Following their acquisition in February 2010 of Hagemeyer-Cosa Liebermann, a Swiss company with a long tradition in the marketing and sales of Luxury & Lifestyle products, DKSH has now further strengthened its luxury goods activities through two significant investments. On the one hand, DKSH has taken a majority shareholding in Maurice Lacroix. Located in Saignelegier and Zurich, the renowned watchmaker has 200 employees and generates sales of CHF 70 million. DKSH has already held exclusive marketing and distribution rights to Maurice Lacroix products in Asia since 2008. Secondly, DKSH has established a joint venture with Zino Davidoff AG for the sales a
nd marketing of luxury timepieces, leather goods, and accessories throughout Asia. With these investments, DKSH's comprehensive product offering has been enhanced by products from two high-quality brands.
This strategic collaboration, focusing sharply on market expansion in Asia as well as optimally satisfying demand from the rapidly emerging Asian middle class is underpinned by Zino Davidoff AG taking a shareholding in Maurice Lacroix.
Remaining as the third shareholder is Desco von Schulthess, which like Zino Davidoff are presently board of directors' members of the Maurice Lacroix Holding. Dr. Peter Brunner, President of Desco von Schulthess said, "Relinquishing the majority shareholding as well as handing over the management and strategic positioning of Maurice Lacroix to DKSH was a planned, long-term and logical step in my succession solution. This began with DKSH's acquisition of Desco's Asia and the financial participation of DKSH in Maurice Lacroix in 2008. All three partners involved are proud of this Swiss solution."
For Maurice Lacroix, this new ownership structure opens up promising perspectives. Martin Bachmann, CEO, explained, "In addition to the even ber focus on market growth in Asia, this new constellation offers further growth and synergy potentials for continued global expansion within the framework of a successful brand strategy."
Christian Schaffner, CEO of Zino Davidoff Luxury Group, commented, "We see DKSH as the ideal partner for professionally marketing our premium "Davidoff" brand of luxury goods in the rapidly expanding Asia markets. Given the deeply-rooted traditions of DKSH and their in-depth market expertise in and knowledge of Asia, we are expecting significant impetus for our designs, as well as for the successful positioning of our products."
Both expansion initiatives will further enhance the leadership position of DKSH as an independent services provider for marketing, sales, and distribution of premium luxury items in Asia. Moreover, through acquiring the controlling stake in Maurice Lacroix, DKSH is conscientiously implementing its growth strategy in its own brands for selected business segments.
"We are excited about the growth potentials and synergies gained from the strategic link-up of our extensive marketing, sales, and after-sales services network in Asia with the product, design, and manufacturing competence of Maurice Lacroix, combined with Davidoff's expertise in brand management," commented Dr. Jörg Wolle, President & CEO of DKSH Holding. "The rapidly emerging middle class across the entire Asia region is the ideal target group for premium luxury and lifestyle products such as those offered by Maurice Lacroix and Zino Davidoff."
All three parties have agreed not to disclose the financial details of the transactions.
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