Titan Industries on 16 November 2011 announced its decision to acquire Swiss watch brand Favre Leuba for up to 2 million Euro (over Rs. 13 crore) as a part of its strategic business plan to expand product portfolio.
Titan Industries signed a binding offer with Valfamily SL Spain and Maison Favre Leuba of Switzerland for the acquisition, post which Titan will secure global rights of the brand.
Titan decisided to acquire Favre Leuba to complement and strengthen the existing watches brand portfolio of the company with a Swiss heritage brand.
Favre Leuba was created in Switzerland in 1737 and has a rich history in international markets, including India.
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