Kering's farewell to Girard-Perregaux
and Ulysse Nardin

The French luxury giant Kering, which has so far supported Girard-Perregaux and Ulysse Nardin (owned by the Sowind Group) on the development path that has led to the launch of new models and the reorganisation of distribution also with the opening of direct shops, now passes the baton to the current management so that it can successfully continue the process it has started. "The in-depth work carried out by the Kering Group at Girard-Perregaux and Ulysse Nardin in recent years has laid the foundations for lasting growth. Kering has demonstrated its ability to set the conditions for the long-term development of the brands destined to leave the Group, in the interests of their employees, partners and customers, as well as the territories in which they operate," said Jean-François Palus, CEO of Kering. "Thanks to the solid foundations built with Kering's support and investment, we now have the necessary means to create a long-term project capable of ensuring the sustainable development of the two brands," said Patrick Pruniaux, President and CEO of Girard-Perregaux and Ulysse Nardin since 2018. The sale transaction will be finalised at the end of the first half of 2022.