Baccarat (company)
| Baccarat SA | |
|---|---|
| legal form | SA |
| ISIN | FR0000064123 |
| founding | 1764 |
| Seat |
Nancy , France
|
| management | Zhen Sun (PDG (interim)) |
| Number of employees | 1014 |
| sales | 164 million euros |
| Branch | luxury |
| Website | www.baccarat.com |
| Status: 2019 | |
Baccarat SA , based in Nancy and with administration in Paris, is a listed manufacturer of crystal glass that sells jewelry, tableware, candlesticks and gifts under the Baccarat brand. The company goes back to a crystal manufacture founded in Baccarat (Lorraine) in 1764 , which still produces crystal and lead glasses for the company to this day. The company runs a museum in Baccarat and Paris.
The majority shareholder has been majority owned by a Chinese private investor since 2018.
history
1764-1816
In 1764, King Louis XV. of France, Prince Bishop Cardinal Louis-Joseph de Laval-Montmorency (1710–1802) granted permission to set up a glassworks in the city of Baccarat in Lorraine in eastern France . The production consisted of window panes, mirrors and stemmed glasses until 1816, when the first crystal furnace went into operation. At that time, over 3000 workers were employed at the site.
1817-1869
Baccarat received its first royal commission in 1823. This began a long series of assignments for kings and heads of state around the world. In 1855, Baccarat won its first gold medal at the World Exhibition in Paris . Baccarat first began to mark its work with a registered trademark in 1860. The mark was a label that was attached to the bottom of the work. Between 1846 and 1849, Baccarat signed some of their high quality glass millefiori letterweights with the letter B and the year date in a composite cane . A special paperweight from 1853 was found under the cornerstone of a bombed-out church in Baccarat when construction resumed after World War II. Crystal production expanded its scope during this time, and Baccarat built a worldwide reputation for the manufacture of fine stem, chandelier , barware, and perfume bottles.
1870-1936
The imperial era ended in 1870 with the defeat of Napoléon III. Influences outside of France had a stronger influence on Baccarat's work during this period, especially on imports from Japan. The largest chandelier in the world and a staircase with a Baccarat crystal balustrade adorn the Dolmabahçe Palace in Istanbul. Baccarat continued to grow strongly in Asia. Baccarat has become quite famous in the royal houses. The Queen of Portugal, for example, commissioned decorative pieces and dishes (currently on display at the Ajuda National Palace ) for her private collection . One of the strongest areas of production for baccarat was perfume bottles, and in 1907 over 4,000 bottles were produced per day. In 1936, Baccarat began marking all of its works by acid blasting or sandblasting .
1936-today
Baccarat founded an American subsidiary in New York City in 1948 . They started producing pieces based on Cylon designs, like the famous piece Cylon Carrier - Napoleon Hat (1958). The chairman of Baccarat from 1960 to 1992 was René de Chambrun, the son-in-law of the former French Prime Minister of Vichy, Pierre Laval . There are American stores in Costa Mesa, California; Houston, Texas; Greenwich, Connecticut; New York City; Palm Desert, California; Las Vegas; and Miami, Florida. In 1964 a retrospective was held at the Louvre to celebrate the 200th anniversary of the crystal work. In 1989 the company came into the possession of the Taittinger family , who in addition to Champagne also had investments in hotels and other luxury goods. Baccarat began making jewelry in 1993 and expanded into perfume in 1997. In 2003, Baccarat moved to its new headquarters on Place des Etats-Unis in Paris.
In 2005 the company was acquired by Starwood Hotels & Resorts Worldwide , a US hotel and real estate group, which acquired a majority stake through the purchase of the Groupe du Louvre, a holding company owned by the Taittinger family. In 2018, Starwood sold its stake in Fortune Fountain Capital, the family office of Chinese investor Coco Chu.
Individual evidence
- ↑ a b Annual Report 2019
- ↑ René de Chambrun (1906-2002). Retrieved July 12, 2020 .
- ↑ Baccarat Fine Crystal Jewelry, Lighting & Gifts for Special Occasions - US Official Site. Retrieved July 12, 2020 .