The Swiss group of companies Compagnie Financière Richemont SA (Richemont) and the luxury watchmaker Greubel Forsey go their separate ways. According to a report by Reuters news agency, Richemont has sold its 20 percent stake in the La Chaux-de-Fonds-based manufacturer. The company is now fully owned by the two founders Robert Greubel and Stephen Forsey and the current CEO Antonio Calce. A Greubel Forsey company spokesman confirmed the transaction but did not provide any details, Reuters said.
The company, which was founded in 2004 and is known for its complex and extremely expensive watches, now has “complete freedom” to decide on its next development steps through the independence, quoted Reuters from a statement by CEO Calce. According to the news agency, Richemont had already participated in Greubel Forsey in 2006 and kept his stake until the sale that has now been announced.