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A sale of Kering’s watches is in the works

By Astrid Wendlandt
A management buy-out of Kering’s watch unit is in the works
Patrick Pruniaux, CEO of Ulysse Nardin and Girard-Perregaux, is actively working on a management buy-out (MBO) of the watchmakers, both part of French luxury goods group Kering, several industry sources told Miss Tweed. The timing would be propitious for Pruniaux. As the pandemic is easing, discretionary spending is on the rise. Luxury watch sales are picking up.

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