Chopard acquires five-star hotel on Paris' Place Vendôme
The Swiss jewellery brand moves onto French property
Located on the esteemed Place Vendôme in Paris, the ultra-luxurious, Hôtel de Vendôme, occupies a prime position for jewellery enthusiasts around the world, including Chopard's Paris flagship boutique which has been housed in the 18th century building for over 10 years.
The world-renowned jeweller which is now taking over the hotel's 29 rooms and restaurant stated that this new acquisition will "kick off a diversification project for the group".
The hotel occupies a prime position in Paris, with Boucheron, Van Cleef & Arpels, Dior, Chanel and Bulgari all located in the surrounding area of the city's 1st arrondissement. "This transaction ensures a key location for Chopard's own boutique network," a representative for the company said.
The hotel — which also has sister properties on the French Riviera, in Megève in the French Alps and in South America — holds 10 suites including a penthouse, along with its own restaurant.
"The restaurant, on the first floor, enjoys a very good reputation, and possibilities of synergies between the two worlds are numerous," said the family-owned company, adding "the firm looks forward to further developing this gem of Parisian hotels".
Chopard has not disclosed the hotel's purchase price, but has revealed that this is only the first of many more investments for the group.