By  on September 29, 2011

PARIS — Hermès International said its watch division, La Montre Hermès SA, has purchased a 32.5 percent stake in Swiss watch case maker Joseph Erard Holding for an undisclosed sum.

“This newly acquired stake in Joseph Erard Holding gives us the opportunity to pursue the development of our watchmaking expertise while reinforcing our privileged access to an essential component within a context of strong growth for the Hermès Group’s watchmaking activities,” stated Hermès deputy managing director Guillaume de Seynes.

Florence Erard, chairwoman of the board of directors of Joseph Erard Holding, said the acquisition would enable the family-owned company to consolidate its capital and ensure its continuity.

The market for watch parts has heated up as demand soars in emerging markets, creating production bottlenecks throughout the industry.

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