By  on September 4, 2008

MILAN – Italy's Binda Group is merging with America's Geneva Watch Group to create a timepiece and jewelry firm with projected annualized sales for 2008 in excess of 450 million euros, or $651 million at current exchange.

Binda Group, which owns the Breil Milano, Breil Tribe, Wyler Geneve and Details brands, and operates under license watches and jewels for D&G, Moschino Cheap & Chic, and Ducati among others, said Thursday it had acquired 100 percent of Kenneth Cole licensee Advance Watch Group Ltd. – known commercially as Geneva Watch Group – from U.S. private equity fund Heritage Partners for an undisclosed sum.

“This acquisition…allows our group to further strengthen its international presence and share competencies with a successful U.S. company,” Binda co-chief executive officer Marcello Binda said.

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus