July 30, 2014 / 3:46 PM / in 4 years

Kering buys watchmaker Ulysse Nardin, posts mixed Q2

PARIS, July 30 (Reuters) - French luxury group Kering on Wednesday said it had agreed to buy Swiss watch maker Ulysse Nardin as it posted a mixed set of first-half results that revealed an unexpected drop in like-for-like sales at its flagship brand Gucci.

However, the group’s overall second-quarter sales of 2.35 billion euros came broadly in line with market expectations, helped in part by continued strong growth at fashion brands Yves Saint Laurent and Bottega Veneta. (Reporting by Astrid Wendlandt; Editing by Leila Abboud)

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