The acquisition by the Chinese investment management company Fortune Fountain Capital (FFC) of La cristallerie française de luxe Baccarat, created more than 250 years ago in Lorraine, has been completed.
This €185M operation will “accelerate its strategic plans internationally and particularly in Asia and the Middle East while supporting its growth in developed markets”.
Baccarat assures that “FFC is committed to significantly investing in Baccarat’s core business and supporting the company in its next phase of growth and value creation through expansion into neighboring luxury markets”.
Baccarat, a symbol of the French art de vivre, employs 500 people and generated revenue of 148 million euros in 2016, for a profit of 2.2 million euros.
To generate growth, the Chinese fund intends to invest: from 20 to 30 million euros will be injected within two or three years, and perhaps up to 50 million in the medium term with several dozen hires.
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