FranA§ois-Paul Journe Vertical Integration
Les Montres Journe have accentuated the vertical integration of their production by acquiring control this summer of 50% of the capital of Elinor, a French manufacturer of precious metal cases which is preparing to relocate from Paris to Annecy. The aim of this operation is to take necessary precautions in respect of a subcontracting market that has grown very volatile. Run by Francis Simonet, Elinor devotes 90% of its production to Les Montres Journe.
For 2007, les Montres Journe are targeting a production level of between 800 and 900 units. "Our rate of growth is moderate but controlled," points out François-Paul Journe. Over a three year timescale, the brand could produce 1,200 watches per year, "but that will be a maximum figure". The development plan involves recruiting around 30 employees, once 200 m2 of premises still being rented on its production site have been recovered. In total, Montres Journe has invested around 12 million francs in its manufactory in the very heart of Geneva. (ats)
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