Into the Kering fold

An agreement sees the acquisition by Kering of 100% of the capital of Ulysse Nardin, which will join the group’s «luxury - watches and jewellery» division. The current management team will remain in place. The transaction is subject to approval by the competition authorities and is expected to be finalised in the second half of 2014.

Founded in 1846 by Ulysse Nardin and with a strong presence in the world of sailing, the eponymous watchmaking company was taken over and relaunched in 1983 by Rolf W. Schnyder. This acquisition allows Kering to strengthen its «luxury - watches and jewellery» division with a firmly established player ideally placed to complement its other brands. As well as prospects for geographical expansion offered by Ulysse Nardin, particularly in the Asia-Pacific region, many synergies linked to the technical and industrial expertise of Ulysse Nardin and its excellent distribution network will be able to be deployed. Kering is a world leader in clothing and accessories. Girard-Perregaux, JeanRichard and Gucci are part of the group.

August 20, 2014