Schweizerhall sells Boucheron division to Gucci

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Press Release - 05/23/2000

Schweizerhall Holding based in Basel has signed an agreement to sell its Boucheron division to the Gucci Group on July 1, 2000. The Gucci Group, a leader in the luxury goods industry, creates, manufactures and distributes very high quality luxury products including ready-to-wear, accessories, fine leather goods, footwear, silkwear, timepieces, jewelry, fragrances and eyewear.

Domenico De Sole, President and CEO of the Gucci Group says, "I am pleased to announce that Boucheron is joining our fast-growing group of luxury brands. Boucheron is a great brand with strong potential and is a perfect match for Gucci."

Michel Dyens Investment Bankers, New York and Paris, advised Schweizerhall in the transaction.

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