Titan Industries, India’s largest watch manufacturer and retailer,
announced on November 16 it will acquire Swiss watch brand
Favre Leuba for euro 2 million.
Favre Leuba is based in Le Locle, Switzerland, and has a watchmaking tradition dating from the eighteenth century.
A Titan company representative said: “The strategic rationale behind (this) acquisition is to complement and strengthen the existing watches brand portfolio of the company with a Swiss heritage brand.”
http://articles.economictimes.indiatimes.com/2011-11-16/news/30405723_1_titan-industries-brand-switzerland