French luxury brand Kering will be purchasing 100 per cent of Swiss watch brand Ulysse Nardin. Ulysse Nardin’s brand management will stay the same and will join Kering’s Watches and Jewellery division led by Albert Bensoussan.
Ulysse Nardin will join other watch brands like Boucheron, Girard-Perregaux, JeanRichard, Pomellato, Dodo, and Qeelin, and Gucci that have previously been purchased by Kering.
This is an opportunity that we had to seize, particularly because this structural acquisition will enable us to take advantage of numerous synergies with our existing brands. We have great ambitions for this company and we will help it continue its international expansion whilst staying faithful to its roots and its identity,” says Kering Chairman and CEO François-Henri Pinault in his official statement.
The deal will be finalized in the second half of the year. CJ
