PARIS — Continuing to secure precious raw materials for its fast-selling luxury goods, LVMH Moët Hennessy Louis Vuitton said it has taken control of Les Tanneries Roux, a French producer of supple calf leathers.

 

Financial terms were not disclosed.

 

Based in Romans, a French region once famous for shoe manufacturing, Roux counts more than 120 employees and turns out sumptuous leathers for a number of brands controlled by luxury titan Bernard Arnault, including Louis Vuitton, Dior, Loewe, Celine and Moynat.

 

Late last year, the French conglomerate acquired a 51 percent stake in Singapore crocodile tannery Heng Long International for 47 million euros, or $65.4 million, at average exchange rates for 2011.

 

That move signaled a new direction for LVMH, eager to procure supplies to feed robust global demand for high-end leather goods and watches.

 

Also last year, LVMH acquired 100 percent of ArteCad SA, a manufacturer of Swiss watch dials.

 

Founded in 1803, Roux posted revenues last year of around 20 million euros, or $27.8 million at average exchange rate, an LVMH spokesman said.

load comments
blog comments powered by Disqus