On Tuesday, LVMH announced the acquisition of L'Epée 839, a Swiss brand of luxury mechanical clocks.

This acquisition is further proof of the LVMH group's commitment to preserving and developing historic know-how, the French luxury giant said in a press release, without specifying the amount of the transaction.

Frédéric Arnault, Chairman and CEO of LVMH's watch division, added that the group would continue to maintain the many watchmaking partnerships initiated by L'Epée. (Report Mimosa Spencer, written by Stéphanie Hamel)