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Article: Consolidation of Luxury Brands Continues.(Brief Article)
- Article from:
- Jewelers Circular Keystone
- Article date:
- January 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The ongoing consolidation of Europe's upscale watch industry continued in the year 2000, with the Swatch Group--the world's largest watchmaker--adding another luxury watch firm to its collection, and other brands tightening control over sources of key watch parts.
Acquisition of the 155-year-old German watchmaker Glashutter Uhrenbetrieb by the Swatch conglomerate was approved in October by its shareholders and management. However, financial details were not released.
The German firm's prestigious Glashutte Original brand of luxury-priced mechanical watches joins Swatch's 16 other watch brands and strengthens its already solid upmarket segment. That ...
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