Swatch Buys Jaquet-Droz

May 3, 2000

Swatch Buys Jaquet-Droz

The Swatch Group last week purchased high-end Swiss watch firm Montres Jaquet-Droz, known for its finely finished watches and music boxes and complicated mechanical animated figures. Jaquet-Droz shares were previously held by the Cayman Island-based Cupola Venture Partners 1 Ltd. and several Swiss private investors.

Its watches retail at $4,000 and higher, placing Jacquet-Droz within the growing high-end segment of the Swatch Group, which last year acquired luxury brand Breguet and also owns Blancpain, a high-end maker of complicated timepieces.

Currently Jaquet-Droz products are not distributed in the U.S. Most of its sales in the past year were in the Far East. Plans for U.S. sales are pending.

- by Michael Thompson