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Kering announces the sale of Girard-Perregaux and Ulysse Nardin to their management

Kering will sell its entire stake (100%) in Sowind Group SA, which owns Girard-Perregaux and Ulysse Nardin, to its current management.
Kering announced the signature of an agreement to sell its entire stake (100%) in Sowind Group SA, which owns the Swiss watch manufacturers Girard-Perregaux and Ulysse Nardin, to its current management.

Kering announces the sale of Girard-Perregaux and Ulysse Nardin to their Management

With a long tradition in watchmaking, Girard-Perregaux and Ulysse Nardin have continuously evolved since their acquisition by Kering, while preserving their identity. Combining an innovative approach to design and technical know-how, they have revamped their product universe, launched new models, and reorganized their distribution, with the opening of directly operated stores and stronger ties with watch distributors.

The Group has supported the two Manufactures in their development, strengthening their positioning and ensuring adequate resources to finance their growth. 

Girard-Perregaux

"The extensive work carried out by the Group in recent years at Girard-Perregaux and Ulysse Nardin has laid the foundations for sustainable growth. Kering has demonstrated its ability to secure the conditions for the long- term development of entities leaving the Group, in the interest of their employees, partners, customers and local communities," declared Jean-François Palus, Kering’s Group Managing Director.

Ulysse Nardin

"On the sound foundations laid thanks to Kering's support and investments, we have the right setup and resources to implement a plan capable of ensuring the long-term development of both brands" declared Patrick Pruniaux, CEO of Girard-Perregaux and Ulysse Nardin since 2018.

The financial impacts related to this disposal will be reported in the accounts closed on December 31, 2021. The transaction is expected to be completed by the end of the first half of 2022. 

COMMENTS

Name

A. Lange & Sohne,120,AkriviA,9,Alain Silberstein,2,alarm,13,Alpina,12,Andersen Geneve,2,Andersmann,2,Andreas Strehler,5,Angelus,5,annual calendar,39,Anonimo,15,Anthony de Haas,1,Antiquorum,2,Antoine Martin,2,Antoine Preziuso,1,Apple,2,Apple Watch,2,Aquadive,2,Aquastar,1,Armin Strom,63,Arnold and Son,23,Astarwatch,1,Atelier de Chronometrie,1,Ateliers deMonaco,2,Atmos,1,Auctions,75,Audemars Piguet,72,Autodromo,1,automaton,2,BA111OD,1,Ball Watch,1,Bamford,2,Baselword 2022,1,Baselworld,8,BaselWorld 2013,50,BaselWorld 2014,53,Baselworld 2015,69,Baselworld 2016,27,Baselworld 2017,64,Baselworld 2018,75,Baselworld 2019,41,Baselworld 2020,2,Baume,4,Baume et Mercier,49,Bell & Ross,34,Bernard Lederer Universe,1,Bernhard Lederer,2,Bernhard Zwinz,1,bespoke,1,Blancpain,76,BLU,1,blue dial,3,Bonhams,2,Bovet,11,Brands histories,1,Breguet,104,Breitling,60,Bremont,1,Bremont Watch Company,4,Breva,2,bronze,24,Bücherei,1,Bulgari,93,Bulova,1,Burberry,1,C3H5N3O9,1,carbon,2,carillon,3,Carl F. Bucherer,2,Carl Suchy,1,Carrera,9,Cartier,44,ceramic,11,Certina,8,Chanel,4,Chaumet,3,chiming hour,8,Chopard,35,Christie's,6,Christophe Claret,5,Christopher Ward,9,chronograph,588,chronometer,34,Chronoswiss,5,Citizen,3,co-axial,1,column-wheel,7,complete calendar,20,complications,82,concept watch,5,Concord,1,constant-force,39,Corum,18,Credor,1,CSEM,1,Cyrus,24,Czapek,6,Dan Niederer,1,Davosa,1,Daytona,5,De Bethune,24,de Grisogono,3,dead seconds,20,detent escapement,2,DeWitt,9,digital display,1,dive watches,8,diving,7,diving watches,320,double regulator,3,Doxa,24,drei,1,dress watches,444,dual time,90,Ebel,1,Eberhard,33,Edouard Koehn,2,Edox,5,El Primero,37,Emile Chouriet,1,Emmanuel Bouchet,1,Emmanuel Breguet,1,enamel dial,9,enamelling,15,Equation of time,9,ETA,1,Eterna,18,exhibitions,1,F.P.Journe,34,Faberge,2,factory tours,3,Favre-Leuba,1,feature article,66,features,103,Ferdinand Berthoud,6,flyback,49,Fondation de la Haute Horlogerie,1,Fortis,8,Franc Vila Founder,1,Franck Muller,7,Frederic Jouvenot,1,Frederique Constant,14,Furlan Marri,1,FVF,1,Gallet,1,Geneva Watchmaking Grand Prix,8,Georg Jensen,1,George Daniels,4,Gerald Charles,2,Gerald Genta,9,Girard-Perregaux,43,Glashuette,18,Glashuette Original,69,Glashütte,32,Glashütte Original,101,Glycine,4,GMT,102,GoS,1,GoS Watches,1,GPHG,15,GPHG 2020,3,GPHG 2021,3,GPHG 2022,1,GPHG2019,1,Graham,6,Grand Feu,5,Grand Prix d’Horlogerie de Geneve,14,Grand Seiko,23,Grande Complication,26,Grande Sonnerie,7,Greubel Forsey,36,greubelforsey,1,Gronefeld,9,Grönefeld,8,Grossmann,3,guilloché,6,H. Moser and Cie,43,H20 Watch,1,Habring,9,Habring2,10,Hajime Asaoka,2,Hallmark of Geneva,2,Hamilton,30,hands-on,90,Hanhart,7,Harry Winston,11,Hautlence,6,Hermes,24,Heuer,2,high jewellery,1,Hublot,38,Hybris Artistica,1,Hydro Mechanical Horologists,7,HYT Watches,15,Icon,1,In pictures,10,independent watchmaker,18,industry news,203,interview,6,Interviews,6,IWC,137,Jaeger-LeCoultre,113,Jaquet Droz,58,Jean-Francois Mojon,1,Jean-Marc Pontroué,1,JeanRichard,3,jumping hours,33,Junghans,9,Kaj Korpela,1,Kari Voutilainen,9,Kenissi,1,Korpela,1,Krayon,3,Kudoke,4,Kurono,2,L'Epee 1839,1,Ladies watches,161,Lang & Heyne,3,Lange,43,large date,2,Laurent Ferrier,23,Laureus,2,Le Garde Temps,1,Lederer Watches,2,Leica,2,Lemania,1,Leroy,3,Linde Werdelin,2,Longines,74,Louis Erard,14,Louis Moinet,7,luxury steel watch,14,LVMH,9,LVMH 2020,6,M.A.D.Edition,2,M.A.D.Editions,2,Maîtres du Temps,1,Manufacture Contemporaine du Temps,3,Manufacture Royale,3,Marc Lang,1,marine chronometer,1,Maurice de Mauriac,2,Maurice Lacroix,13,MB&F,52,MCT,1,MeisterSinger,71,meteorite,2,metiers d'art,1,Mido,37,military watches,14,Minerva,2,Ming,1,Minute Repeater,55,monopusher chronograph,4,Montblanc,53,moon phases,110,Moritz Grossmann,30,Moser,38,Muhle,4,Mühle-Glashütte,3,mystery watches,4,Nautilus,8,New Britain Corp,1,new watches,3045,Nomos,57,Norqain,27,Ochs und Junior,5,Officine Panerai,94,Omega,161,Only Watch,9,Only Watch 2015,4,Only Watch 2017,2,Only Watch 2019,3,Only Watch 2021,4,Oris,38,paillonne,1,Panerai,97,Parmigiani,10,Parmigiani Fleurier,28,Pascal Coyon,1,Patek,43,Patek Philippe,117,Pedrozo & Piriz,1,perpetual calendar,128,Perrelet,10,Petermann Bedat,2,Phenomen,1,Philippe Dufour,1,Phillips,8,Piaget,24,Pierre DeRoche,2,pilot watch,92,Pisa,6,Pisa Circle,6,Pita,1,planetarium,1,platinum,5,pocket watch,3,pocket watches,2,Poincon de Geneve,2,Porsche Design,17,Pre-SIHH 2016: Cartier - Clé de Cartier Automatic Skeleton,1,pulsometer,5,Purnell,1,quartz,7,Rado,15,Ralf Tech,2,Ralph Lauren,2,rattrapante,19,Raul Pages,1,Raymond Weil,1,rectangular watches,12,reddot award,1,regatta,1,regulator,21,remontoire,5,Remy Cools,1,Reservoir,2,resonance,18,Ressence,10,retrograde,8,Revelation,1,Reverso,21,review,90,RGM,1,RGM Watch Co.,1,Richard Mille,95,Richemont,4,Richmond,1,Roger Dubuis,11,Roger Smith,1,Roger W. Smith,1,Rolex,55,Romain Gauthier,11,Romain Jerome,1,Royal Oak,30,Rudis Sylva,1,sapphire,3,Seamaster,5,Seiko,31,SevenFriday,18,SIHH,3,SIHH 2012,4,SIHH 2013,25,SIHH 2014,36,SIHH 2015,43,SIHH 2016,44,SIHH 2017,40,SIHH 2018,43,SIHH 2019,53,Singer,5,Singer Reimagined,8,single hand,20,single-hand watches,23,Sinn,14,skeleton,27,smartwatch,8,solar energy,1,Sotheby's,5,Speake-Marin,4,Speedmaster,30,split seconds,14,sport watches,775,Spring Drive,2,square watches,2,squelette,48,steampunk,1,Steinhart,1,striking time,16,SuisseMecanica,1,sunrise,2,sunset,2,Swatch,5,Swatch Group,18,Sylvain Pinaud,1,table clocks,4,Tag Heuer,144,technical insight,3,terra Cielo Mare,1,Tiffany,17,Tissot,6,titanium,5,top news,272,Torsti Laine,1,tourbillon,314,Trilobe,3,Tudor,31,Tulloch,1,Tutima,3,ultra thin,30,Ulysse Nardin,36,Unimatic,1,Union Glashutte,10,Urban Jurgensen,29,Urwerk,20,Vacheron Constantin,78,Van Cleef & Arpels,7,Vauchier Fleurier,1,Vianney Halter,5,video,1,vintage watches,3,Vulcain,10,wandering hours,1,watches,1,Watches & Wonders,38,Watches & Wonders 2020,19,Watches & Wonders 2021,28,Watches & Wonders 2022,34,Watches&Wonders,4,WatchesandWonders2022,35,Winnerl,1,worldtime,47,Zannetti,1,Zeitwerk,1,Zeitwinkel,1,Zenith,99,Zodiac,8,
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Time and Watches | The watch blog: Kering announces the sale of Girard-Perregaux and Ulysse Nardin to their management
Kering announces the sale of Girard-Perregaux and Ulysse Nardin to their management
Kering will sell its entire stake (100%) in Sowind Group SA, which owns Girard-Perregaux and Ulysse Nardin, to its current management.
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