PARIS — PPR has charged Michele Sofisti, chief executive officer of Gucci Group Watches and Jewelry, with ramping up international growth at Sowind Group.
Sofisti will take on the additional role of ceo at Sowind, parent of the luxury timepiece manufacturers Girard-Perregaux and JeanRichard, effective today.
Last month, PPR took majority control of the Swiss watch firm via a capital increase to fund expansion. Previously, the retail-to-luxury conglomerate held a 23 percent stake after sealing a long-term strategic partnership with the Macaluso family in 2008. The family now holds 49.9 percent, and PPR 50.1 percent.
Stefano Macaluso continues as managing director of Girard-Perregaux, and Massimo Macaluso as managing director for JeanRichard and Sowind’s manufacturing of movements.
“Michele has strong management expertise within the high-end watchmaking segment. I am confident he will be able to develop Sowind Group’s growth on the international market, just as he is successfully doing currently at Gucci Group Watches,” stated Francois-Henri Pinault, chairman and ceo of PPR and president of Sowind Group.
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Based in La Chaux-de-Fonds, Sowind produces about 15,000 watches per year, and also sells a portfolio of high-end watch movements to third parties. The company employs 270 people.
Sofisti joined Gucci Group Watches as a strategic advisor in 2009 and was promoted to ceo last year. He is also on the board of directors of Gucci Timepieces Hong Kong, China, Taiwan and Japan.
An Italian national, Sofisti started his career as a geologist and has also worked at Ferrari, Swatch Group, Fred, Christian Dior Watches and Sofos Management, his own consultancy.