In 1972, Robert Hocq, assisted by a group of investors led by Joseph Kanoui, bought "Cartier Paris". In 1974 and 1976, respectively, the group repurchased "Cartier London" and "Cartier New York," thus re-connecting Cartier worldwide. The new president of Cartier, Robert Hocq, created the phrase "Les Must de Cartier" (a staff member is said to have said "Cartier, It's a must!" meaning something one simply must have) with Alain Dominique Perrin, who was a General Director of the company. As a result, in 1976, "Les Must de Cartier" became a low-priced spin-off line of Cartier, with Alain D. Perrin being its CEO.