Swiss brand Maurice Lacroix has been put on the market by owner DKSH Holding AG, with a buyer hoped to be found by the end of 2015.
The reasons for the sale appear to be : a fall in sales, the Swiss Franc’s peformance (a 15% gain against the Euro), and a decision by DKSH to move away from watches and focus on their core business of assisting their diverse clients expand into Asian markets.
Producing some 90,000 pieces a year in a mid-range price segement, Maurice Lacroix has no doubt been affected by the vagaries of the luxury watch market.
The most recent report of the Federation of the Swiss Watch Industry (FH) in May 2015 reported a value of 1.7 billion CHF in exports. This is 8.9% lower than the same time last year, but the drop is being put down to there being two fewer working days in May 2015 versus May 2015. Apparently the difference is approximately two days’ worth. There were falls in all price segments, with -14.2% for timepieces over 3,000 CHF. Drops were seen in Hong Kong, the United States, France, Japan and China. Italy bucked this trend, with +4.5%.
Not unsurprisingly, given the brands in its stable that would sit at a similar price segment, it has been reported that Swatch Group AG are not interested in purchasing Maurice Lacroix. DKSH have a number of brands that they either own or are involved with, which vary across markets. You can find a list of them here.
Their share price’s movements yesterday after the announcement can be seen above.