Chopard announced that it has acquired UHP (Union Hôtelière Parisienne), the company which owns the Hôtel de Vendôme in Paris. This transaction ensures a key location for Chopards’ own Boutique network and also kicks off a diversification project for the group.
Chopard, a family company, whose luxury watch and jewelry collections enjoy a worldwide reputation, takes over the Hôtel de Vendôme. Situated directly on the Place Vendôme, the building erected in 1723 for Pierre Perrin, houses a 5 star establishment. Ideally situated in the heart of Paris, it comprises 29 rooms, including 10 suites and forms the gateway to one of the most famous squares in the world.
The amount of the transaction has not been disclosed.
France, where Chopard runs 7 Boutiques altogether, represents a significant market for the brand.
Source: Fondation de la Haute Horlogerie