The emblem of Greubel Forsey is pictured on the “Salon Worldwide de la Haute Horlogerie” (SIHH) watch truthful, in Geneva, Switzerland, January 15, 2018. Image taken January 15, 2018. REUTERS/Denis Balibouse
ZURICH, March 24 (Reuters) – Luxurious items group Richemont (CFR.S) has bought its total 20% stake in Swiss watchmaker Greubel Forsey, paperwork confirmed on Thursday.
Greubel Forsey stated in an announcement that 100% of the model’s shares at the moment are owned by founding shareholders Robert Greubel and Stephen Forsey in addition to by Chief Government Antonio Calce, as of March 18.
Based in 2004, Greubel Forsey specialises in very difficult timepieces. In 2006 it bought a 20% stake to Richemont – which owns Cartier and different luxurious manufacturers – and Richemont nonetheless owned that stake through the fiscal 12 months to Might 2021, the group’s annual experiences confirmed.
“This independence will permit Greubel Forsey to outline the following levels of growth and maturity with full freedom,” Greubel Forsey CEO Calce stated within the assertion.
A spokesperson for Richemont confirmed the transaction, however gave no particulars.
In January, French luxurious group Kering (PRTP.PA) introduced it was promoting it high-end watch labels Girard-Perregaux and Ulysse Nardin to present administration. learn extra
Reporting by Silke Koltrowitz and Stephanie Nebehay; Enhancing by Susan Fenton
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