As luxury watchmakers struggle to obtain supplies of high-quality parts, French handbag maker Hermes said their watch unit has been in exclusive talks to buy all of Swiss high-end dial maker, Nateber. Hermes agreed to buy almost a third of family-owned Swiss watch case maker Joseph Erard and made this move several months later.
Details of the deal have not been disclosed. The acquisition would be the most recent in a series of buys and partnerships in the watch module sector as luxury goods groups seek to protect access to know-how so they can improve their growth potential in the lucrative timepiece business. The world’s biggest watchmaker and provider, Swatch, has also shaken the industry when they decided to scale back the supplies they gave to rivals.