http://www.bloomberg.com/news/articles/2015-07-13/swiss-watch-brand-maurice-lacroix-put-up-for-sale-by-owner-dkshSwiss Watch Brand Maurice Lacroix Up for Sale on Franc Surge
The Swiss watch slowdown has claimed a new victim.
Maurice Lacroix, a brand that delivers 90,000 timepieces a year, has been put up for sale by owner DKSH Holding AG as the surge in the Swiss franc and a slump in demand from Asia weigh on the business. DKSH aims to find a buyer for the unit this year, Dominique Nadelhofer, a spokesman, said by phone Monday.
This year’s 15 percent gain in the franc against the euro is reducing the value of the revenue that Swiss watchmakers make abroad. Weak consumption in China, which accounts for a quarter of global luxury demand, has also weighed on European luxury-goods stocks, Goldman Sachs said in a note to investors.
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