Richemont, the luxury goods group controlled by South African billionaire Johann Rupert, has sold off its 20-percent stake in Greubel Forsey, a Swiss watchmaker.
Greubel Forsey said in a statement issued on Thursday that 100 percent of the brand’s shares are now owned by founding shareholders Robert Greubel and Stephen Forsey, as well as by CEO Antonio Calce, as of March 18.
Greubel Forsey, which was founded in 2004, manufactures complicated timepieces. In 2006, Richemont, the Swiss luxury group, which owns Cartier and other luxury brands, acquired a 20-percent stake in the watchmaker. Richemont still owned that stake as at May 2021, the group’s most recent annual reports showed.
“This independence will allow Greubel Forsey to define the next stages of development and maturity with complete freedom,” Calce said in the statement.
Rupert is the chairman and controling shareholder of Richemont.
