Sumary of Richemont sells 20% stake to Swiss watchmaker Greubel Forsey:
- Swiss luxury goods group Richemont sold its entire 20% stake to Swiss watchmaker Greubel Forsey, according to ARichemont sold 20% stake to Swiss watchmaker Greubel Forsey – DR Greubel Forsey said in a statement that 100% of the brand’s shares are now owned by founding shareholders Robert Greubel and Stephen Forsey, as well as CEO Antonio Calce, effective March 18.
- This independence will allow Greubel Forsey to define the next stages of development and maturity with complete freedom, said Calce, CEO of Greubel Forsey, in the statement.
- Founded in 2004, Greubel Forsey specializes in very elaborate timepieces.
- A spokesperson for Richemont confirmed the transaction, but offered no further details.