* An innovative watchmaking business built on outstanding tradition and manufacturing expertise

* One of the few Swiss watchmakers to have its own production capacity for critical watch components, particularly regulating systems

* A highly profitable company with solid prospects for growth

* Great synergies with the Kering ‘Luxury – Watches and Jewellery’ division

Paris (France) – Le Locle (Switzerland). Kering and Ulysse Nardin have signed an agreement for Kering to acquire 100% of the capital of Ulysse Nardin. The brand will join Kering’s ‘Luxury – Watches and Jewellery’ division, headed by Albert Bensoussan, and the management team will remain in place. The deal is subject to the consent of the competition authorities and should be finalised during the second half of 2014.

Founded by Mr Ulysse Nardin in 1846 with its roots in the nautical world, the eponymous watchmaking house was taken over and re-launched in 1983 by Rolf W. Schnyder who transformed it into a highly profitable business in a healthy financial position. The company
benefits from a very strong brand identity based on its historical expertise in marine chronometers and ultra-complication watches. Ulysse Nardin has long been one of the most innovative independent watchmakers. The brand was a pioneer in the use of cutting edge technologies and state-of-the-art materials like silicium, which today ensures that it has the in-house expertise, particularly in regulating systems, to produce its own components. Its coherent range of watches positioned in price segments that are growing and its efficient distribution network are also major assets.

This acquisition constitutes a structural development enabling Kering to strengthen its ‘Luxury – Watches and Jewellery’ division with a clearly positioned business that complements its other brands. Over and above the opportunity for Ulysse Nardin’s geographical expansion, especially in the Asia-Pacific region, it will enable the deployment of the numerous synergies linked to Ulysse Nardin’s technical and industrial expertise and its excellent distribution network – contributing to accelerate the growth of the whole division.

François-Henri Pinault, Kering’s Chairman and CEO, stated: “Ulysse Nardin benefits from a rich heritage, high profitability and solid growth prospects. Independent high-end watchmaking manufactures are rare. This is an opportunity that we had to seize, particularly because this structural acquisition will enable us to take advantage of numerous synergies with our existing brands. We have great ambitions for this company and we will help it continue its international expansion whilst staying faithful to its roots and its identity. In this regard, I am pleased that Mrs Schnyder accepted to remain a member of its board of directors. I have long admired Ulysse Nardin and I am delighted that 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 an opportunity for Ulysse Nardin. It will allow the brand to carry on with its international expansion and continue to innovate, while assuring the long-term future of its knowledge and expertise and the retention of its identity. I am delighted that Ulysse Nardin has found the best partner in Kering.”

About Ulysse Nardin

Swiss Watch Manufacturer Ulysse Nardin, founded in 1846, has been dedicated to excellence for over 168 years in manufacturing mechanical watches. Among the most reliable ever made, Ulysse Nardin’s marine chronometers are still sought by collectors around the world. Ulysse Nardin continues to be in the forefront of watchmaking technology by pioneering new materials in manufacturing high precision movement components and most innovative timepieces equipped with in-house created and manufactured calibers.

About Kering

A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport & Lifestyle brands: Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Christopher Kane, McQ, Stella McCartney, Tomas Maier, Sergio Rossi, Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, Puma, Volcom, Cobra, Electric and Tretorn.

By ‘empowering imagination’ in the fullest sense, Kering encourages its brands to reach their potential, in the most sustainable manner.

Present in more than 120 countries, the Group generated revenues of €9.7 billion in 2013 and had more than 35,000 employees at year end. The Kering (previously PPR) share is listed on Euronext Paris (FR 0000121485, KER.PA, KER.FP).

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GIRARD-PERREGAUX | Constant Escapement L.M.

MAURICE LACROIX | Masterpiece Gravity

Buoyed up by a formidable capacity to view the world from a different perspective, Maurice Lacroix loves defying conventions. Its new Masterpeice Gravity is a perfect example of this attitude, since it is the first watch equipped with an assortment – balance roller, lever and escapement wheel – entirely made of silicon. Three times lighter than steel, this material is also more accurate, less energy-hungry and requires no lubricant. Like the oscillator, this fascinating innovation is clearly visible within a resolutely contemporary aesthetic composition accentuated by an off-centred hour and minute dial, as well as small seconds creating fascinating depth effects.

GUCCI | G-Timeless Slim Automatic

Completely updated, the G-Timeless Slim watches by Gucci Timepieces & Jewelry are back centre-stage with stylish new features. Proposed as three versions, they are now driven by a mechanical automatic movement for even more horological substance. A deliciously curved bezel surrounds the dial whose surface is decked out in Gucci’s iconic “diamante” pattern, in a larger design and now extending across the entire dial. A new minute circle accentuates the contour of the dial whose narrower hour-markers complete the look. Small seconds at 6 o’clock add to the dynamic character of this undeniably contemporary timepiece.

HYT | H1 Red2

The first ever wristwatch to show time using a liquid, the H1 is back with a new red fluid, the result of over a year’s R&D. Stored in a reservoir under the dome at 6 o’clock, this liquid advances through a capillary as the hours go by, then returns to its initial position in a retrograde movement after completing one circuit of the dial. Located in the upper part of the watch, a haute horlogerie mechanism commands these fascinating fluid mechanics. It propels a cam which pushes a piston to activate the bellows which alternately compress and expand the reservoirs, one of which contains the red, water-based liquid and the other a transparent, oil-based fluid. Limited series of 50

JULIEN COUDRAY 1518 | Oeuvre JC 1588 Sport

With this fourth collection, Manufacture Julien Coudray brings cars and watchmaking together in a most original way. The mechanical movement that beats inside this Oeuvre JC 1588 Sport reproduces on its oscillating weight the registration plate of its lucky owner’s car, making each timepiece truly one-of-a-kind. The harmoniously miniaturised number plate is crafted from solid 18K red gold and grand feu enamel. Fully hand-engraved and decorated, there are no limits to how it can be personalised, making it even more individual and exclusive. In an ultimate touch of refinement, the service indicator, shown in a window at 12 o’clock, reveals a drop of oil, reproduced in enamelled gold, after four years to remind the wearer that the watch must be serviced.

HALDIMANN | H3

The H3 brings with it a world-first, being the only wristwatch ever to possess a central flying tourbillon and a minute repeater. Truly a work of art, this mechanical sculpture chimes the magical melody of watchmaking’s two most highly prized complications. Carrying on a family tradition of innovation since 1642, master watchmaker Beat Haldimann has created this watch to keep horological complications firmly at the centre of our attention. Seemingly weightless, the elegant flying tourbillon appears to float in the centre of the dial, completing one revolution per minute. The gentle sound of the minute repeater underscores the poetry of this mechanical masterpiece, which has been entirely imagined and crafted in the Haldimann family workshops in the Alpine city of Thun, thus continuing the tradition of this remarkable dynasty of watchmakers

VICTORINOX SWISS ARMY | Dive Master 500

To mark the 25th anniversary of its watchmaking activities, Victorinox Swiss Army presents a limited, numbered series of its famous diver’s watch. For the very first time in brand history, this exclusive titanium model issued in a 500-piece limited edition houses a mechanical automatic chronograph movement. Built to resist and endure, this authentic diver’s instrument is water-resistant to 500 metres. To ensure impeccable visibility under water, it features generous luminescent indications not only on the hands and hour-markers, but also on the chronograph counter rings and in the 20-minute dial zone. The latter is echoed on the bezel bearing original marking, with a luminescent coating that seems no different from the others but actually turns blue in the dark.

 

ERNEST BOREL | Jules Borel Officially Certified Chronometer

This timepiece honours Jules Borel, the watchmaker who co-founded the company in 1856. Beneath an exterior that takes its style from the first wristwatches of the twentieth century beats an automatic movement whose timekeeping performance has been certified by the Contrôle Officiel Suisse des Chronomètres (COSC). This carefully crafted gem of precision and reliability resides in an 18K pink gold case, bringing the refinement of noble materials to the delicacy and elegance of classical horology.

FRANC VILA | Cobra FV 18E « Manual Suspended Skeleton »

An immersion into the heart of an exceptional mechanism capable of making time stand still for just a moment. This model works true magic when the gaze alights on the skeleton-worked movement. Built and cased-up in total suspension, the calibre is stabilised by a clever system of springs. Appearing to be levitating in a dial-free structure, it draws observers into a fascinating mechanical exploration infused with the expertise of the finest master-watchmakers.

CLERC | Hydroscaph H1 Chronometer

A powerful and innovative design. Water resistance to 500 metres. Unfailing security in the depths. In other words, a formidable exploring machine that has sailed through the merciless tests performed by the Swiss Official Chronometer Testing Institute, the watch industry’s highest benchmark for precision and reliability. Its name is Hydroscaph H1, a high-tech luxury diver’s watch that is bound to delight deep-sea adventurers

DA VINDICE GENEVE | The Vindex Tourbillon

This new model from Da Vindice embodies an encounter between the tourbillon, a symbol of watchmaking excellence and traditions, and a resolutely 21st century design. Topped with the brand’s emblematic lily motif, the tourbillon sits majestically enthroned at 6 o’clock, while the dial reveals other beauties including generous Roman numerals standing out against an elegant guillocé background. The honeycomb motif adorning the sides of the tonneau-shaped case completes the total-black composition

TECHNOTIME | TT 738

This thriving small company produces modules, mechanical movements, tourbillons and balance-springs. Technotime has been enjoying renewed expansion since 2003, when the manufacturer decided to launch into making high-end mechanical movements. The flagship of the brand based in Les Brenets is the TT 738 movement, featuring a blend of design and performance and designed to adapt to brand’ need for differentiation. The available versions include a retrograde date module and/or power-reserve indicator. Equipped with Technotime balance-springs, it may, depending on clients’ wishes, be chronometer-certified by the COSC. This mechanical gem is also available in a hand-wound version, the TT 718.

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