PPR in talks to buy Richard Mille-industry source

PARIS, June 17 Mon Jun 17, 2013 11:03am EDT

PARIS, June 17 (Reuters) - French luxury and sports brands group PPR is in talks to buy control of Richard Mille, one of the most expensive watch brands on the market, an industry source with first hand knowledge of the matter told Reuters.

The deal could value Richard Mille at 340-400 million Swiss francs, or 2.5-3 times its expected 2013 revenues of 135 million Swiss francs ($146.60 million), said the source, who requested anonymity. (Reporting by Astrid Wendlandt and Pascale Denis and Silke Koltrowitz; editing by Mark John)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.