WWD is reporting on a major purchase from LVMH. “Luxury giant LVMH Moët Hennessy Louis Vuitton said early Thursday that it reached an agreement to acquire Switzerland’s Hublot watch group from founder Carlo Crocco and a firm controlled by Jean-Claude Biver, who’s managed the brand since 2004. Terms of the deal weren’t disclosed, but the company noted that the Hublot brand was ‘highly complementary’ to its existing watch portfolio, which includes Tag Heuer, Zenith, Dior Montres and Louis Vuitton.”
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