BREAKING NEWS: Ulysse Nardin acquired by the Kering Group

30/07/2014 | By Frank Geelen | 1 min read |

Just last week Kering announced that Michele Sofisti, who led Girard-Perregaux and JeanRichard (both part of the Sowind Group, which is owned by the Kering Group), would become the CEO of Gucci Watches and Jewelry (also part of the Kering Group). A new CEO for Girard-Perregaux and JeanRichard was yet to be found. Today the Kering Group announced they acquired Ulysse Nardin.

With this latest acquisition the Kering Group is expanding its role in the high-end watch industry. According to François-Henri Pinault, Kering’s Chairman and CEO, Ulysse Nardin is a highly profitable company with solid prospects for growth. Ulysse Nardin, known for the ground-breaking Freak and much, much more, is one of the few Swiss watchmakers to have its own production capacity for critical watch components, like the escapement. They recently developed their own escapement, the Ulysse Anchor Escapement. Later more about that, and of course now we’re curious to learn who will be at the helm.