Jaeger-LeCoultre CEO Jérôme Lambert is in talks to buy the brand from Richemont using his own funds and backing from partners, several industry sources said.
The deal would value the heritage watch brand at more than 1 billion Swiss francs, they said. It was part of the agreement to hand over the Richemont CEO role to Nicolas Bos in 2024. It comes after Richemont announced it was selling Baume & Mercier to jeweler and retailer Damiani Group. The two deals mark the beginning a major asset-sale process that raises questions about Richemont’s future in its existing form. More details to be published on Sunday.
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