Spangles - Dr. Tabby
5212
The management clearly thinks it can make a go of it, so 🤞🏼
They are Independents now!🎉
Any forecasts regarding Ulysse Nardin future?
After Keing spin off will the company survive? The current collection is not particularly inspiring in my opinion. I am wondering if the spin off will give UN freedom to experiment and perhaps go back to it's roots of financial constraints will drive to t...
The management clearly thinks it can make a go of it, so 🤞🏼
They are Independents now!🎉
For fans of the brand(s), it can only be good news.
It is easy for us to judge, but the design direction at UN is atrocious. I hope they replace Patrick Pruniaux, I feel the models are an all time low under his leadership. The amount of ridiculous advertising they do is astounding. Stupid videos of sharks ...
Isn't Patrick Pruniaux the new owner?
Unlikely he would replace himself ... Although of course you are right that he has been a disaster.
Reading between the lines
When Kering bought U-N in 2014, sales were around 250M CHF annually. Last year it was 40M CHF. It was "sold to management"? I would say more like given to them, perhaps with some right to a share of profits for a period of time, so Kering would stop losin...
Since Kering is a listed company, the disposal cost/financials will have to be disclosed
Looking forward to seeing in the filings what the meaning of "sold to management" is
"Material"
They don't have to list the exact costs if they are not "material" (think rounding error) in their financials.
Here's betting Kering will disclose (naturally, not to the exact, last cent)
Disposing/exiting [fleeing?] a segment--even one as diminished as Kering's watchmaking division now is--normally qualifies as a significant event. Stakeholders will demand to know the number, especially considering the billions spent over a decade in the ...
The heat is on, to turn things around and find that second breath (quickly, or else they become Sowinded...)
Maybe they ought to talk to Kari V and the Urban Jürgensen folks. But then, UJS and GPUN are so stylistically different, it's hard to see synergies -- perhaps Golden Bridges with Voutilainen-grade supersmooth, superwide anglage? 🤩
They need to rehire Ludwig, at least...
As a consultant. Maybe be can reenergize the brand?
Agree!
Bring back the very cool and whimsy designs of the 2000’s and 2010’s! BW, Chi Kai
When does this de-investment (management take-over?) take effect?
UN are still listed on Kering's website as one of their Houses.
That kind of announcement is usually more of a declaration of intent than a done deal
It is still subject to shareholders and sometimes regulatory approval
