PPR acquires Swiss luxury watch group Sowind

French retail holding PPR, which owns Gucci Group acquired this week Swiss group Sowind, which controls Girard-Perregaux et JeanRichard.. This is PPR’s first venture into luxury watches after having sold Bedat & Co 5 years ago. Set up in 1681, JeanRichard is one of the pioneering Swiss luxury watch brands which manufactures high end pieces.

Sowind Group was established in 1998 in Chaux-de-Fonds in Switzerland and has 270 employees and a capacity to manufacture 15.000 pieces annually.