Kering completes the sale of Girard-Perregaux and Ulysse Nardin

Kering completed the sale of Sowind Group, which owns the Swiss watch manufacturers Girard-Perregaux and Ulysse Nardin, to Sowind’s management.

The luxury Group has supported the two Houses in their development, strengthened their positioning and ensured they have adequate resources to finance their growth. It has confidence in the management in place to successfully pursue the work undertaken.

This transaction is in line with Kering’s strategy, giving priority to the Houses with the potential to become sizable assets within the Group, and to which it can provide decisive support over time.

Kering manages the development of a series of renowned Houses in Fashion, Leather Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, as well as Kering Eyewear. In 2021, the company had over 42,000 employees and revenue of €17.6 billion.

Homburger advised Kering on the transaction. The team was led by partner Dieter Gericke (pictured) and included associates Léonard Aeschlimann and Angela Oppliger (all corporate/m&a), partner Jürg Frick (financing and investment products), partner Stefan Oesterhelt and associate Laetitia Fracheboud (both tax).