How Richemont Acquired Lange, IWC, and JLC, etc.

I don't know about you, but I rather enjoy the writings of James Dowling; often funny and always honest, he is like a searchlight through the fog.  This piece from July recently came to my attention and is worth reading for an appreciation of the financial dealings behind our watch brands.

How Richemont Acquired Lange, IWC, and JLC, etc.

Interesting dean but somwhere,
09/29/2011 - 01:20
I have a slightly different version. My PC, 3 year old HP, on repair now. MacBook Pro never breaks wink I'll try find it when it comes back, the article I mean laugh Doc
What a quote ! " the smallest stone sends it's ripples to the edge ...
09/29/2011 - 05:53
Of the lake". Thanks for the heads up!
the mystery thickens as Breguet should be in the picture too...
09/29/2011 - 11:24
1999 was a crazy year in watchmaking!  The reason why Richemont (then called Vendome) paid such a high price for the brands  was because Swatch was on the deal too! Richemont wanted IWC as a brand and JLC's know how and Lange was just there. At the time a big shot as Richemont was heard saying that he did not believe in the future of German watchmaking! In any event , Richemont got LMH brands in summer of 1999, Swatch who had missed the deal turned to Breguet (PPR-now Gucci Group who owns GP, Boucheron, Chaumet ... was considering buying Breguet but Swatch beat them to it!). LVMH at the same time decided it needed to enter the battle but arrived too late but managed to buy ailing brands such as TAG Heuer and Zenith. The 40% of JLC owned by AP was subsequently bought by Richemont giving enough cash to AP to develop their inhouse automatic caliber 3120 and to buy Renaud et Pappi. The deal between AP and Richemont also gave way to an interesting deal: if the shareholders of AP were to sell their shares Richemont would have a right of first offer. However that agreement was limited in time and I believe is no longer valid.
Would make a great movie...
09/29/2011 - 18:15
This story has all the drama and intrigue of a thriller, just needs a few dead bodies thrown into the mix.  Marlon Brando would have been the Godfather of Time, Johann Peter Rupert, but now we have Alex devil
Re: Would make a great movie...
09/29/2011 - 18:33
Alex takes a stab and on the face of it he could do time......
09/29/2011 - 23:29
This could be the start of something bigindecision. Thank you Dean for the idea! A perfect role for Marlon if ever I've seen one.yes Keep me posted, pleasecool Tony
Ouch...
09/30/2011 - 00:48
So that's "killing time"?
my kinda story!
10/04/2011 - 13:14
thanks Dean...
They managed to repair the HP and my version
10/09/2011 - 14:41
that I finally found, is nearly identical with that you have presented. What a lot of money. For V&C to get JLC was a gret win. Lange the future will show,  Germany is a big market, but the world is bigger! Anyhow as written, it's a perfect scenario for a movie.laugh Thanks for the story Dean! Cheers Doc