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  Swiss Watch News 2001  
   
Opera Takes Over Sector
 
(August 30, 2001)
 


 The investment company Opera, created by the Bulgari Group, which is also its main investor, has taken over the Sector Group and turned it into a new structure, a Luxembourg holding company bearing the name of Quadrante. Shareholdings in the capital of this holding company are distributed as follows: 77 % for Opera, 15 % for Tetragon Partners (Luxembourg investment company), 5 % for the Giardiello family (founder of Sector) and 3 % for Enrico Ceccato, the new Manager Director of Quadrante. The aim of this transaction, representing around 160 million francs, is to give a boost to all of the group's own brands or those under license, and to develop business in international markets.

Enrico Ceccato has extensive professional experience. He was formerly the President and CEO of Direct Spa, Manager and COO of the Autogrill Group, Managing Director of Fila Italia and Vice-President of Killer Loop (Benetton Group).

Members of the Quadrante board include Francesco Trapani and Silvio Ursini, respectively Chairman of the Board of Directors and Marketing Director of Bulgari, Renato Preti and Magnolia Albertazzi for the management of Opera, Stefano Bonfiglio for Tetragon Partners and Filippo Giardiello.

The new strategic plan envisages consolidation of the Group's leading position in Italy and its international revival through the growth of existing brands and new license agreements with some of the most prestigious brands, as well as through new acquisitions.

With a turnover of around 150 million francs, the Sector Group is one of Italy's leading sports watch suppliers. Represented in around 50 countries, it also sells famous brands such as Philip Watch, Chronostar and the collection of watches designed by Roberto Cavalli. Mode, Invicta and Lucien Rochat are among the other brands on its roster.
 
       
   

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Last update : August 30, 2001