Transaction Details

July 30, 2014
Munich, Zurich

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

M&A

Deal Value

N/D

Deal Team

Dr Michael Hinderer, Alexander Grünwald, Thierry de Sépibus, Madeleine Jahr, Daniel Fritz, Mario Schlup

GCA Altium advises on the sale of Ulysse Nardin to Kering

Ulysse Nardin is an innovative watchmaking business built on outstanding tradition and manufacturing expertise. A highly profitable company with excellent prospects for growth, Ulysse Nardin has strong synergies with Kering’s ‘Luxury – Watches and Jewellery’ division, which it will join. Ulysse Nardin’s management team will remain in place.
Founded by Mr Ulysse Nardin in 1846 with its roots in the nautical world, the eponymous watchmaking house was taken over and re-launched in 1983 by Rolf W. Schnyder. The company benefits from a strong brand identity based on its historical expertise in marine chronometers and ultra-complication watches. Ulysse Nardin has long been one of the most innovative independent watchmakers; the brand was a pioneer in the use of cutting- edge technologies and state-of-the-art materials like silicium, which today ensures that, as one of the few Swiss watchmakers, it has the in-house expertise, particularly in regulating systems, to produce its own critical watch components.

Kering, a world leader in apparel and accessories, develops an ensemble of powerful luxury, sport and lifestyle brands including Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Brioni, Stella McCartney, Boucheron, Girard-Perregaux, JeanRichard, Pomellato, Qeelin, and Puma. Present in more than 120 countries, the Group generated revenues of €9.7 billion in 2013 and had 35,000 employees at year end. The Kering share is listed on Euronext Paris.

The structural acquisition enables Kering to strengthen its ‘Luxury – Watches and Jewellery’ division with a clearly positioned business that complements its other brands. Over and above the opportunity for Ulysse Nardin’s geographical expansion, especially in the Asia-Pacific region, it will enable the deployment of the numerous synergies linked to Ulysse Nardin’s technical and industrial expertise and its excellent distribution network — contributing to accelerating the growth of the whole division.

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