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.
Editors' Picks
Sponsored by
More on Majors
The Latest
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
