Huge news: Leica could be bought by a Chinese company!

Blackstone Group and the Kaufmann family are considering selling a controlling stake in Leica for approximately €1 billion. Potential buyers include HSG (Hony Capital, formerly Sequoia China) and Altor Equity Partners.

A bit of history:

Leica sold a 44% stake to Blackstone in 2011 for €130 million (US$179 million). Blackstone invested in 2011 to help the brand expand internationally, particularly in the Asian market. Since then, the company has successfully transformed from a niche manufacturer into a broader luxury brand.

As an European I understand partnerships are necessary. Still it’s sad to see such an important legacy company being sold abroad. But China is the new force in the photography world and I suspect that in 10 years from now most camera and lens companies will be made and owned by Chinese manufacturers.