PARIS – PPR is beefing up its watch business.The French retail and luxury conglomerate, which owns Italy’s Gucci Group, said it has sealed a long-term strategic partnership with Sowind Group, the Swiss holding company that owns luxury timepiece manufacturers Girard-Perregaux and JeanRichard.
Under terms of the agreement, PPR will take a 23 percent stake in Sowind with the possibility of increasing its shareholding in the future. Luigi Macaluso, chairman and chief executive officer of Sowind, will retain control of the company.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)