Baccarat Has a New Majority Shareholder

  1. Jeremy
  2. June 12, 2017 10:37 am

Baccarat Has a New Majority Shareholder

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Following a decade of steering the ship, Starwood Capital has relinquished its majority shares of French crystal maker, Baccarat.

Established by the royal decree of King Louis XV, the 253-year-old icon welcomes Chinese investment company Fortune Fountain Capital Ltd as the majority shareholders. The company is doling out 164 million euros, or 222.70 euros per share, to attain the controlling stake of the Paris-based business.

Famous for its exquisitely crafted champagne glasses and chandeliers, Baccarat is the favourite of royal families, with designs that are showcased the world over. From the Louvre to Istanbul’s Dolmabahce Palace, each finely designed item is basically a work of art.

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According to Baccarat, the Chinese firm does not have plans to delist the company, but will instead offer shareholders the same price for their shares. With this tactic, the brand is trying to hasten its growth in Asia and the Middle East.

Baccarat will, however, continue production in the French town that it takes its name from. The business has also stated that Daniela Riccardi will continue on as lead in the position of chief executive officer.

Revenue has been declining in recent years, but Baccarat managed turned a profit in 2016. This latest acquirement is one of many that sees Chinese investors stepping into Europe; with France, Britain and Germany being the most popular areas of business up until now.


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