WatchesJan 24, 2022
These Were the Top 5 Watch Brands of 2021 on Chrono24MajorsJan 25, 2022
Kering Sells Girard-Perregaux, Ulysse Nardin
The watch brands will be sold to their management teams.
Kering is selling its stake in Sowind Group, which owns watch brands Girard-Perregaux and Ulysse Nardin. (Image courtesy of Girard-Perregaux’s Facebook page)
Paris—Kering is selling two of its watch brands, Girard-Perregaux and Ulysse Nardin.
The luxury conglomerate announced Monday it has signed an agreement to sell its stake in Sowind Group, which owns the two brands.
Kering said the sale is in line with its strategy of prioritizing brands that potentially could become “sizable assets.”
The company partnered with Sowind Group, the parent company of Girard-Perregaux, in 2008 and initially held a minority interest in the company.
Kering, then known as PPR, acquired a majority stake in Sowind in 2011.
In 2014, Kering acquired then-independent Swiss watch manufacturer Ulysse Nardin and brought it under the Sowind umbrella.
“With a long tradition in watchmaking, Girard-Perregaux and Ulysse Nardin have continuously evolved since their acquisition by Kering, while preserving their identity,” said Kering, lauding the brands for their “approach to design and technical know-how.”
Related stories will be right here …
The luxury conglomerate announced Monday it has signed an agreement to sell its stake in Sowind Group, which owns the two brands.
Kering said the sale is in line with its strategy of prioritizing brands that potentially could become “sizable assets.”
The company partnered with Sowind Group, the parent company of Girard-Perregaux, in 2008 and initially held a minority interest in the company.
Kering, then known as PPR, acquired a majority stake in Sowind in 2011.
In 2014, Kering acquired then-independent Swiss watch manufacturer Ulysse Nardin and brought it under the Sowind umbrella.
“With a long tradition in watchmaking, Girard-Perregaux and Ulysse Nardin have continuously evolved since their acquisition by Kering, while preserving their identity,” said Kering, lauding the brands for their “approach to design and technical know-how.”
Under Kering’s ownership, the brands launched new models, opened their own directly operated stores, reorganized distribution, and strengthened ties with watch distributors.
“On the sound foundations laid thanks to Kering’s support and investments, we have the right setup and resources to implement a plan capable of ensuring the long-term development of both brands,” said Patrick Pruniaux, CEO of Girard-Perregaux and Ulysse Nardin.
The brands have adequate resources to fund their growth, Kering said, adding the company is confident in the new management.
“The extensive work carried out by the group in recent years at Girard-Perregaux and Ulysse Nardin has laid the foundations for sustainable growth,” said Jean-François Palus, Kering’s group managing director.
“Kering has demonstrated its ability to secure the conditions for the long-term development of entities leaving the group, in the interest of their employees, partners, customers and local communities.”
The transaction is expected to close by the end of the first half of 2022.
The financial impacts of the sale will be reported in the results for the fiscal period ending Dec. 31, 2021, set to be released Feb. 17.
More on Majors
The Latest
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink DiamondMaking its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby MineThey were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
SourcingOct 20, 2025
Pristine Gems Names New Director of European SalesGemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYCThe new showcase dedicated to Italian jewelry design is set for Oct. 29-30.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.
AuctionsOct 16, 2025
Sotheby’s Introduces Custom Jewelry ServiceThe new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.
CollectionsOct 16, 2025
Foundrae Adds To ‘United in Love’ CollectionThe brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.
IndependentsOct 15, 2025
Retailer Hall of Fame 2025: Kathy CoreyCorey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.
CrimeOct 15, 2025
Men Receive Lengthy Prison Sentences for 2023 Murder of Colorado JewelerCharles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.
Events & AwardsOct 15, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
Events & AwardsOct 15, 2025
JCK, Luxury to Debut New Watch Section in Vegas Next YearTimepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.
AuctionsOct 15, 2025
Christie's Announces New Jewelry Department LeadershipThe auction house named a new global head of jewelry, as well as a new head of the jewelry department for the Americas.
IndependentsOct 14, 2025
Retailer Hall of Fame 2025: Tom DixonAs chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.
Events & AwardsOct 14, 2025
Here Are the Winners of the BIJC, JA ‘Emerging Jewelers’ Grant Katty Villapando Lyte and Mica Rencher received a $10,000 grant for their business, Shimmer Culture LLC.
IndependentsOct 14, 2025
Day’s Jewelers Crafts Custom Jewelry for No.1 NBA Draft Pick Cooper FlaggThe parents of the Dallas Mavericks rookie bought their engagement ring at a Day’s store in Bangor, Maine, in 1997.
SourcingOct 14, 2025
Pragnell Debuts Kitulo Garnet Jewelry The UK-based brand sourced the gemstones, which are fully traceable, from an artisanal mining community in Tanzania.
CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
