Kering Acquires Ulysse NardinsharetweetshareKering, the luxury goods conglomerate formerly generally known as Pinault-Printemps-Redoute (PPR), has acquired Completely of Swiss luxury watch brand Ulysse Nardin, an impartial brand which in fact had long been the topic of takeover rumors. Ulysse Nardin now joins the Sowind Group brands, Girard-Perregaux and Jeanrichard, in Kering's expanding "Luxury - Watches and Jewellery" division.Scroll to read the official blog post from Kering and Ulysse Nardin, issued Wednesday, July 30."Kering and Ulysse Nardin have signed a partnership for Kering to buy 100% from the capital of Ulysse Nardin. Business will join Kering's 'Luxury - Watches and Jewellery' division, headed by Albert Bensoussan, plus the management team will continue in place. The sale is at the mercy of the consent from the competition authorities and really should be finalised throughout the lover of 2014."Founded by Mr Ulysse Nardin in 1846 using its roots inside nautical world, the eponymous watchmaking house was bought out and re-launched in 1983 by Rolf W. Schnyder who transformed it to a highly profitable business in a healthy budget. The company advantages of a very strong brand identity determined by its historical an understanding of marine chronometers and ultra-complication replica watches. Ulysse Nardin is definitely the most innovative independent watchmakers. The emblem was a pioneer within the use of cutting edge technologies and state-of-the-art materials like silicium, which today makes sure that a in-house expertise best omega replica watches , specifically in regulating systems, to provide its very own components. Its coherent array of replica watches positioned in price segments that happen to be growing as well as its efficient distribution network will also be major assets ."This acquisition is really a structural development enabling Kering to enhance its 'Luxury - Watches and Jewellery' division with a clearly positioned business that enhances its other brands. Above the opportunity for Ulysse Nardin's geographical expansion, especially in the Asia-Pacific region, it can give the deployment of many synergies linked to Ulysse Nardin's technical and industrial expertise and its particular excellent distribution network - contributing to accelerate the expansion from the whole division."Franc╠žois-Henri Pinault, Kering's Chairman and CEO, stated watches : "Ulysse Nardin advantages of an abundant heritage, high profitability and solid growth prospects. Independent high-end watchmaking manufactures are rare. It becomes an opportunity that people had to seize, particularly because structural acquisition will enable us to benefit from numerous synergies with this existing brands. We have great ambitions just for this company and we will help it to continue its international expansion whilst staying faithful for the roots and its particular identity. In connection with this, We are pleased that Mrs rolex . Schnyder accepted to stay associated with its board of directors. I've got long admired Ulysse Nardin and I am delighted this brand is joining our 'Luxury - Watches and Jewellery' division.""Mrs Chai Schnyder, Chairman of Ulysse Nardin's Board of Directors, stated: "Joining Kering is a chance for Ulysse Nardin. It'll enable the brand to remain using its international expansion and then innovate, while assuring the long-term way forward for its expertise and knowledge plus the retention of that identity. My business is delighted that Ulysse Nardin found the most effective partner in Kering."Ulysse Nardin, maker of replica watches such as the Marine Chronometer Manufacture (above) has become portion of Kering's "Luxury - Watches and Jewellery" group.sharetweetshare replica breitling watches chicago
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