Richemont purchases HGT Petitjean

Petitjean, a manufacturer of cases and bracelets, has just been acquired by the Richemont group, which accounted for about 45% of the company's turnover. Richemont decided on this action out of a concern for protecting its own interests, but it is also a logical step in the movement towards autonomy and the verticalisation of its production. Philippe Petijean will remain at the helm of the enterprise, which will maintain a large degree of independence in order to continue its partnerships with other quality watch brands.

Source: Europa Star Magazine
Feb/March 02 issue