Swiss luxury goods company Richemont has acquired Delvaux, a Belgian luxury leather goods manufacturer, for an undisclosed price.

Founded in 1829, Delvaux is claimed to be among the oldest luxury leather goods companies in the world. It is called the inventor of the modern luxury handbag as way back in 1908, the Belgian leather goods manufacturer became the first to file an official patent for the item.

The luxury leather goods of Delvaux are crafted by skilled artisans in its Belgian and French workshops. They are sold mostly across a network of 50 boutiques around the world.

Richemont said that under its ownership, Delvaux will be in a position for achieving its next stage of development. This will be implemented by enabling Delvaux to tap into the global footprint and digital capabilities of the Swiss luxury goods company to build its omnichannel opportunities and customer engagement.

Philippe Fortunato – CEO of Richemont Fashion & Accessories Maisons, commenting on Richemont acquisition of Delvaux, said: “Delvaux is an authentic European luxury leather goods Maison with strong heritage, distinctive savoir faire and exceptional manufacturing capabilities. The Maison’s rich archives and creative momentum over the last 10 years represent a solid foundation from which to grow the company for the long term, strengthening Richemont’s presence at the pinnacle of the leather goods category.

“We are delighted to welcome Delvaux’s management and teams to Richemont, and look forward to working closely with them to enable the Maison to reach its full potential under the Group’s stewardship.”

  Belgium, Delvaux, France, leather goods, Philippe Fortunato, Retail acquisition news, Richemont, Switzerland