On the heels of expansions by Versace, Armani and Bulgari, watchmaker Chopard is jumping on the luxury hotel bandwagon.
The Swiss firm bought Union Hôtelière Parisienne, which owns Hôtel de Vendôme on Place Vendôme in Paris. The surrounding streets are a mecca for jewellery lovers – with a bounty of boutiques stacked with Van Cleef & Arpels. Boucheron, Dior and Chanel.
The 18th-century building has housed Chopard’s main boutique for more than a decade, but the jeweller will now take ownership of the 29 guestrooms, of which 10 are suites, restaurant and bar.
“The restaurant, on the first floor, enjoys a very good reputation, and possibilities of synergies between the two worlds are numerous,” said the family-owned firm.
"The firm looks forward to further developing this gem of Parisian hotels," it added.
The company has not disclosed the hotel’s purchase price, but The Telegraph has reported this is the first of several such investments for the group.
Chopard is not a complete stranger to the hotel business. The brand opened Chopard at The Dorchester in London last December, with an exclusive selection from Chopard’s Haute Joaillerie collection.