The deal includes a plan to immediately invest 20 to 30 million euros in a drive to expand sales in markets including the United States and Asia. The company, which employs around 500 people, mostly at its historic production site in the town of Baccarat in eastern France, is hoping to consolidate a financial rebound after years of failing to keep up with explosive growth for luxury firms. After posting a net loss in 2015, the company returned to profit and last year booked a net profit of 3.4 million euros on sales of 146 million euros.
The deal includes a plan to immediately invest 20 to 30 million euros in a drive to expand sales in markets including the United States and Asia. The company, which employs around 500 people, mostly at its historic production site in the town of Baccarat in eastern France, is hoping to consolidate a financial rebound after years of failing to keep up with explosive growth for luxury firms. After posting a net loss in 2015, the company returned to profit and last year booked a net profit of 3.4 million euros on sales of 146 million euros.