Patrick Pruniaux: Our results validate our confidence in Girard-Perregaux

On October 28th, Girard-Perregaux (GP), the Swiss Haute Horlogerie Manufacture, opened its new boutique at Shanghai Grand Gateway 66. GP CEO Patrick Pruniaux cut the ribbon for the brand-new boutique. The company’s recently appointed Brand Ambassador Fei Xiang (also known as Kris Phillips) wore the newly launched Neo Constant Escapement at the occasion. GP now has 29 stores in Mainland China.

Within one month, GP has made several important moves in the Chinese market: announcing a new spokesperson and opening a boutique. This testifies to the company’s active and aggressive expansion in the Chinese market.

Founded in 1791, GP cradled in the Jura Mountains in the heart of La Chaux-de-Fonds, Switzerland, has a history dating back more than 230 years and stands as one of the oldest brands in the luxury watch industry.

Those who know the world of luxury watches and luxury goods will recall that in January 2022, the Kering Group sold its entire stake of GP and Ulysse Nardin (UN) to its current management. The reason given by Kering for the decision was to ‘focus resources on high-growth assets’. Although both parties to the sale commended the growth of the two brands under Kering and their confidence in their future, observers were not shy about asserting that its watch business did not contribute to Kering's growth ambitions (e.g. Bernstein analyst Luca Solca).

With the completion of the deal in mid-2022, GP is back on a new path as an independent watchmaking brand.

Throughout this process, Patrick Pruniaux has been a key player.

A watch enthusiast since his teens, Patrick Pruniaux has over 50 watches in his personal collection. His career as a senior executive has taken him from spirits via luxury watches and smartwatches to independent watchmaking, and the management buyouts of GP and UN have allowed him to take on the roles of both "owner" and "manager".

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