A press release has just gone out to the world’s media explaining that Ulysse Nardin has now been acquired by the
There were heavy rumors in 2013 that Kering was also in the process of acquiring Richard Mille, but the transaction never came to fruition.
Ulysse Nardin was founded in 1846 and built its reputation on high-quality marine chronometers. In the difficult years of the so-called quartz revolution, Ulysse Nardin – like many other brands manufacturing high-quality timepieces – found itself struggling to keep its head above water. In 1983, Rolf Schnyder and a small consortium of friends purchased the ailing brand and restored it to former greatness on the strength of mechanical oeuvres such as the Trilogy of Time and the Freak, introduced in 2001, which is often pinpointed as heralding the modern age of mechanical timekeeping due to its innovative use of ultra-modern technologies such as LIGA and silicon.
Rolf Schnyder passed away in 2011, at which time his wife Chai Schnyder became chairperson of the board of Ulysse Nardin’s directors. In the press release she is quoted as saying, “Joining Kering is an opportunity for Ulysse Nardin. It will allow the brand to carry on with its international expansion and continue to innovate while assuring the long-term future of its knowledge and expertise and the retention of its identity. I am delighted that Ulysse Nardin has found the best partner in Kering.”
This press release follows hot on the heels of one announcing the return of Michele Sofisti to the CEO position of
The press release also states that Ulysse Nardin’s current management team will remain in place: Patrik Hoffmann was personally designated by Schnyder as his successor and has led the company tremendously over the last three years expertly assisted by Susanne Hurni as head of marketing and communication and Pierre Gygax as vice-director, above all ushering in the brand's manufacture caliber base movement to ensure more independence as the brand moves forward.
To read what CEO Patrik Hoffmann said about the takeover in an exclusive interview, please read Ulysse Nardin's CEO Patrik Hoffmann Comments The Kering Takeover.
For much more information on Ulysse Nardin’s highly technical and functional timepieces, including new releases at Baselworld 2014, please read Anchors Away: Ulysse Nardin Makes The Anchor Escapement Viable For The Wristwatch, 5 In-House Calibers From Ulysse Nardin, Ulysse Nardin’s Freak Blue Cruiser and Moonstruck Again: How Ulysse Nardin Never Ceases To Amaze.
Kering, which generated €9.7 billion in revenues in 2013, also owns several brands in the luxury fashion world such as Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Stella McCartney, and Puma among others.
Elizabeth Doerr is the editor-in-chief of Quill & Pad, an online magazine that keeps a watch on time.
