Citychamp eats up luxury watch brand
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Listed Hong Kong watch & jewellery group Citychamp has bought a majority stake in Ernest Borel Holdings.
The transaction, which saw Citychamp taking a 58.22 per cent shareholding in the heritage Swiss watch manufacturing brand, was completed on Tuesday.
Ernest Borel, an award-winning brand even in its early days of business in the mid to late 19th century, is noted for its traditional focus on export markets outside Europe. It was first purchased by a group of investors from China in 1997.
Citychamp currently distributes more than 25 international brands within major cities in Mainland China. Its brands include Rossini, Corum, Eterna, Rotary, Ebohr, J&T Windmills, Kana and Dreyfuss & Co.
The news comes just a day after international fashion brand Chanel acquired a 20 per cent stake in the parent company of luxury Swiss watch brand F P Journe.
Questions & Answers
Q.What percentage of Ernest Borel Holdings has Citychamp acquired?
What percentage of Ernest Borel Holdings has Citychamp acquired?
Citychamp has acquired a 58.22 per cent shareholding in Ernest Borel Holdings. The transaction to take a majority stake was completed on Tuesday.
Q.What is Ernest Borel known for historically?
What is Ernest Borel known for historically?
Ernest Borel is known for being an award-winning brand from its early days in the mid to late 19th century. It also traditionally focused on export markets outside Europe.
Q.When was Ernest Borel first purchased by Chinese investors?
When was Ernest Borel first purchased by Chinese investors?
A group of investors from China first purchased Ernest Borel in 1997. This acquisition by Citychamp marks a new ownership development for the brand.
Q.What other brands does Citychamp distribute?
What other brands does Citychamp distribute?
Citychamp distributes various international brands including Rossini, Corum, Eterna, Rotary, Ebohr, J&T Windmills, Kana, and Dreyfuss & Co. These are primarily distributed in major cities in Mainland China.
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