Watch Industry News
PPR SA (Gucci Group) acquires additional stake in Sowind Group (Girard-Perregaux and Jean Richard). The Gucci Group purchased a 23% stake in Sowind in 2008, and now they have upped their stake to a controlling 50.1%. (On a side note, PPR also acquired Volcom, a surf and skate clothing brand, in May 2011.)
Eterna was sold to China Haidian Holdings Limited company in June. Since 1995 Eterna belonged to F.A. Porsche (Porsche Design), later it became part of the Porsche Group. Eterna has long been known for their skill in watchmaking, but it seems that there marketing was just not effective enough.
DKSH takes a majority stake in Maurice Lacroix. Maurice Lacroix currently has 200 employees and generates sales revenue CHF 70 million.
Omega and PGA of America signed a 5-year strategic marketing, sponsorship deal. The PGA has agreed to a deal to make Omega The Official Timekeeper of the Senior PGA Championship, PGA Championship and PGA Grand Slam of Golf.