PPR, owner of Gucci and Puma, has just acquired 50.1% of Sowind Group which comprises Girard Perregaux and JeanRichard. PPR previously held a minority stake in Sowind. Since the passing of Gino Macaluso, there has been speculation on the future direction of Sowind so this is not unexpected. With PPR’s minority stake this was long expected. Both his sons will continue in their roles running GP and JR respectively. This acquisition marks the end of the independence of one of the last family owned high end watchmakers. – SJX