The new French unit will be located in Avoudrey, eastern France, close to Switzerland. The label already has a production site in Brussels and another in Bourg-Argental, centre-east of France. Founded in the Belgian capital in 1829, and owned by Asian investors since 2011, Delvaux says it intends to “double its production capacity to support demand.”

“We continue to invest heavily in the know-how and aim to accelerate our geographic diversification in terms of stores,” said Jean-Marc Loubier, CEO of First Heritage Brands (FHB), which owns Delvaux.

The brand, which currently operates 37 stores globally, also announced it will open its first store in the U.S, in New York’s 5th Avenue. In Europe, London will host its third store this year, and Italy will also see its first store open in Milan.

Loubier says Delvaux’s share of international activity has increased from 3% to 85% in the past seven years. Not listed on the stock market, the brand claims an annual turnover of over €100 million. Its main competitor, the French luxury group Hermes, registered €5.5 billion in sales in 2017.

Since 2011, Delvaux is majority-owned by Hong Kong family, Fung, associated with the sovereign fund of Singapore Temasek.

Source: Le Figaro