Gucci Timepieces was created in November 1997 when Gucci Group NV acquired the operating assets of the Severin Montres Group, one of the world's largest manufacturers and distributors of watches.
Severin Montres, a Gucci licensee for 23 years, had developed an extensive directly operated distribution network in the United States, Canada, Hong Kong, the UK and Germany, as well as third party arrangements elsewhere.
In 1999 Gucci Group NV acquired Yves Saint Laurent Couture and Sanofi Beauté‚ a prestigious perfume and cosmetics company that boasts YSL fragrances such as Opium and Paris, as well as a wealth of other perfume licenses including Roger & Gallet, Krizia, Fendi and Oscar de la Renta.
In 1999, Gucci Group NV also acquired a 70% controlling interest in Sergio Rossi, a leading Italian luxury shoe company. The growth of Gucci Group NV continued in 2000 with the acquisition of Boucheron International S.A. Founded in France in 1858, Boucheron has a long established heritage as one of the world's most exclusive jewellery, watch and perfume brands.
Also in 2000, Gucci secured further control over its brands by obtaining license rights held by Cartier International for Yves Saint Laurent Couture watches and jewellery.
Both moves reflect Gucci's confidence in the global potential of the jewellery and watches segments of the luxury goods market.
|
