Gucci Sell Bedat After the disappointing performance of the watchmaker

  Gucci Group, the luxury goods company PPR SA through (PP) in the ownership has agreed to sell watchmaker Bedat & Co. for an undisclosed sum, said the Swiss brand does not work as expected when it was acquired in 2000.

Bedat, which was founded in 1996, acquired by Luxury Concepts Watches & Jewellery Malaysia Sdn Bhd and Chief Executive Officer, Acting watchmaker Viviane Fankhauser base, Gucci said today in a statement via e-mail.

"Since the acquisition, Bedat & Co. developed primarily in the United States and Asia," Gucci president and CEO Robert Polet said in a statement. "But it was not the level of performance achieved what we expected." Specialization of Luxury Concepts in the distribution of distribution in Asia is BEDAT to be "a major player," he said.

The sale leaves PPR with the watch brands such as Gucci and Boucheron. Watches accounted for about 5 percent of the Gucci Group sales last year, according to the company's website.