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Acquisition of Daum by Financiere Saint-Germain Creates Luxury Group of Complementary Products With a Distinctive Savoir-Faire
5/18/2009
Financiere Saint-Germain's acquisition of Daum Crystal creates an international luxury group of leading complementary brands embracing art and world-class craftsmanship worldwide. This new art de vivre collection brings together a shared heritage and distinctive savoir-faire that will generate an estimated $100 million in sales.
Financiere Saint-Germain now embarks on a program of decisive growth for some of the world's most respected and appreciated names in decorative luxury products and objets d'art for discriminating interior designers, consumers and collectors worldwide.
Financiere Saint-Germain is controlled by the family of Mr Prosper Amouyal who currently owns the Haviland porcelain works, the Royales de Champagne crystal works, Felix goldsmithery and nearly half the capital of the Lalique crystal works, acquired a few months ago. This acquisition represents a decisive stage in Daum's growth.
Founded over 130 years ago in Northern France, Daum (www.daumusa.com) is one of the most prestigious crystal manufacturers worldwide, having worked with over 350 artists, including Salvador Dali, Arman, Paloma Picasso, Roland Topor and Manolo Valdes.
According to Daum President, Sophie Le Tanneur, who will continue to run Daum, "The success of luxury brands depends and will continue to depend on good control of the distribution networks; commercial synergies can be considerable growth levers for all brands."
In terms of jobs, Financiere Saint-German has committed to maintain the industrial site at Vannes le Chatel, near Nancy. Mr. Prosper adds, "I am convinced that luxury requires French manufacture, with savoir-faire that marries tradition and innovation. Every factory has its own expertise and craftsmen of great quality. We must now build a distribution network that offers all of the group's brands in one place."
Daum, the luxury crystal maker renowned for producing one-of-a-kind originals, recently unveiled its "Vintage Collection" in Manhattan, featuring limited edition crystal pieces inspired by the works of Art Deco Master Pierre d'Avesn.
"Daum will continue to enthrall the upscale collector's market with its revolutionary color-changing crystal and new artist showcases. At this month's America's Polo Cup in Washington, D.C., a Daum Crystal was presented as grand prize.
"It's an honor to represent Daum especially now as it joins such a distinguished family of luxury products through this brilliant acquisition by Financiere Saint-Germain," said Lynn Lewis, Daum's publicist at TransMedia Group.
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