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Gucci’s PPR Acquires Swiss watchmaker Sowind
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Gucci’s PPR Acquires Swiss watchmaker Sowind

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Gucci Group’s PPR stated on Monday it was taking a majority stake in Swiss watchmaker Sowind Group, whose high-end brands include Girard-Perregaux and JeanRichard.

PPR will own 50.1 percent of the group, up from the 23 percent it previously owned, after a reserved capital increase that will be fully subscribed by PPR, it said in a statement.

PPR’s chief executive will become chairman of Sowind Group, alongside Monica Mailander Macaluso, who becomes vice-chairman.



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