Chinese Group Buys Corum Watch Company

by swisscham in Business

The Swiss watchmaker Corum has been acquired by Haidian Holdings Limited of China, marking the first time a Swiss watchmaker with the “haute horlogerie” distinction has been bought out by a Chinese company. The CHF 86 million (USD 90.6) agreement is intended to allow Haidian to expand its presence in the Swiss luxury watch market while helping Corum to strengthen its brand worldwide, company representatives expressed at this week’s Baselworld watch industry trade fair.

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