Ultra-high-end watchmaker Greubel Forsey, which sold a 20% stake in the company to the Richemont Group in 2006, just a few years after its founding, is now 100% independent again.
After receiving the brief statement (below) from Greubel Forsey, Professional Watches reached out for further comment and has yet to receive a response. We can only assume that the relationship no longer had the synergy needed to make it worthwhile, and Greubel Forsey purchased back the shares at an agreeable price, and now both companies have parted ways. Even with Richemont’s large stable of luxurious watch brands, some of which include limited models in the six-figure plus range, none sell watches with an average price that starts at $200K per watch, so that alone could have been a contributing factor.
“Founded in 2004, Greubel Forsey has always paved its own path, devoting itself to uncompromising innovation, exceptional hand finishing, engaging movement architecture, and excellence through each step of creation.
Owned by its founders until 2006, Greubel Forsey had then decided to share its ownership. Sixteen years later, Greubel Forsey Holding SA announces that, as of March 18, 2022, it owns 100% of the shares of Greubel Forsey Holding SA and Greubel Forsey GFPI.
The group, and the companies owned by it, thus regain their full independence.
Antonio Calce, Chief Executive Officer and Executive Board Member, confirms that “this independence will allow Greubel Forsey to define the next stages of development and maturity with complete freedom.” The shares of Greubel Forsey Holding SA are held by: – Robert Greubel, Founding Shareholder, Majority Shareholder, and Chairman – Stephen Forsey, Founding Shareholder – Antonio Calce, Shareholder, Chief Executive Officer & Executive Board Member.”
Photo by Greubel Forsey.