The French-born multinational PPR, already the owner of 23% of the Sowind Group (to which the Girard-Perregaux and JeanRichard brands belong), with 50.1% of the group becomes the majority shareholder. François-Henri Pinault said: "This operation strengthens PPR's luxury pole for the haute horlogerie segment thanks to the potential of a brand as prestigious as Girard-Perregaux. And Monica Mailander Macaluso comments: "Our decision to see PPR play a greater role at our side is consistent with the decision, taken in 2008 by my husband, to consolidate a financial and managerial agreement by providing a haute horlogerie Maison like ours with the means to establish itself on the world market". PPR owns many luxury brands including Gucci, Bottega Veneta, Yves Saint Laurent, Balenciaga, Boucheron, Sergio Rossi, Alexander McQueen et Stella McCartney.
