Right in step with those changing market conditions, the well-known luxury leather goods maker Louis Vuitton, recently stepped up to purchase its partnering Swiss watch manufacturing firm, La Fabrique du Temps for an undisclosed amount. Louis Vuitton is owned by LVMH (Moët Hennessy Louis Vuitton) of Paris, France. Both LVMH and rival firm PPR (formerly Pinault-Printemps-Redoute), another French

The Louis Vuitton brand, recognized worldwide for its LV embossed leather handbags, started selling high-end apparel in the 1990s and sold its first watch in 2002. The Vuitton brand increased the development of its watch operations in 2008 and entered the high-end jewelry market in 2009. Parent company LVMH also acquired the Hublot watch brand in 2009, and today Hublot is the fastest-growing luxury watch brand within the LVMH group of brands. Louis Vuitton did not disclose what it cost to purchase La Fabrique du Temps, but the brand did issue a statement that said The integration of La Fabrique du Temps reflects Louis Vuitton's desire to uphold the highest quality standards for its watches and further develop its know-how in the conception and perfection of watch movements."
Image courtesy of backpackphotography