The Swiss watchmaker and jeweler announced the acquisition of the Hôtel Vendôme in Paris, located above the brand’s Paris boutique.
Chopard announced its acquisition of the company UHP (Union Hôtelière Parisienne) which owns Hôtel Vendôme in Paris. The amount of the transaction has not been made public. "This transaction ensures a key location for Chopard's own Boutique network and also kicks off a diversification project for the group," indicates the Geneva family business in a press release.
Built by Pierre Perrin in 1723 on the homonymous square, the Hôtel Vendôme is located upstairs from the Paris boutique of the watch and jewelry making group. The five-star property has 29 rooms, including 10 suites, and a restaurant. Further investments are planned by the firm which sees multiple synergies between the two luxury segments.
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