PPR acquires Swiss watch manufacturer Sowind
French retailer and luxury goods giant PPR announced Monday the launch of a capital increase reserved for Group Sowind after which it will become the majority shareholder of the company with 50.1% of the capital. Sowind Group, one of the few independent Swiss watch manufacturers with a presence in 60 countries including the brands Girard-Perregaux and JeanRichard.
PPR, which already held 23% stake in the company did not specify the amount of the transaction.François-Henri Pinault declared: “this operation strengthens PPR’s Luxury Group in the high-end watchmaking segment thanks to the potential of such a prestigious brand as Girard-Perregaux.
PPR’s chief executive will become chairman of Sowind Group, alongside Monica Mailander Macaluso, who becomes vice-chairman.
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The transaction will support Sowind Group’s international growth regarding as well products development as worldwide distribution.
PPR, which already held 23% stake in the company did not specify the amount of the transaction.François-Henri Pinault declared: “this operation strengthens PPR’s Luxury Group in the high-end watchmaking segment thanks to the potential of such a prestigious brand as Girard-Perregaux.
PPR’s chief executive will become chairman of Sowind Group, alongside Monica Mailander Macaluso, who becomes vice-chairman.
Hublot montre pas cher,Montre Hublot Replique pas cher,Hublot replique montres a la vente. Hublot Montre Replica France la vente, Nous avons les Replique Hublot watches.
The transaction will support Sowind Group’s international growth regarding as well products development as worldwide distribution.
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