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Baccarat S.A. (hereafter "Baccarat" or "the Company"), the renowned luxury crystal company, Groupe du Louvre (hereafter "GDL"), an affiliate of global investment firm Starwood Capital and the majority shareholder of Baccarat, and Catterton Partners (hereafter "Catterton"), the leading consumer-focused private equity firm, announced today that Catterton will invest euro 27.5 million ($36.3 million) in Baccarat through the issuance of 183,333 new shares of the Company at a price of euro 150 per share (the "Capital Increase"). GDL, which owns 85.3% of Baccarat, would own 66.5% after the Capital increase.

Post-Capital Increase, Catterton will own approximately 22% of Baccarat and will be acting in concert with GDL pursuant to a shareholders' agreement to be entered into upon the consummation of the Capital Increase.

In connection with the Capital Increase, Didier Kling & Associes was appointed by the Board of Directors of Baccarat as independent expert.

Steve Hankin, Vice Chairman of Baccarat and Managing Director at Starwood Capital, comments: "We are delighted to welcome Catterton as a shareholder of Baccarat. We are confident that Catterton's global retail and supply chain expertise and strong track-record of growing consumer companies will be a great asset in accelerating the development of the company, especially on an international scale."

Michael Chu, Managing Partner of Catterton, adds: "Baccarat is a renowned luxury brand with significant growth potential. We look forward to working with Baccarat and Groupe du Louvre as we utilize our financial and operational resources – as well as our expertise in consumer products – to support the company's long-term business plans and success."

In accordance with French regulations, additional information regarding the terms and conditions of the Capital Increase, including the report of the independent expert, will be included in a prospectus. The Capital Increase remains subject to a decision by the AMF acknowledging that this transaction does not trigger the obligation to launch a mandatory tender offer in light of GDL's continued predominance in the concert formed with Catterton, to the validation by the independent expert of theeuro 150 per share price, and to the approval by an extraordinary shareholders' meeting of Baccarat that is expected to take place by the end of June 2012.