Bedat & Co. Novelties 2008 Watch

According to Gucci Group President and CEO Robert Polet it’s ” a good deal for all parties concerned.” Polet is talking about Gucci’s recent sell of Bedat & Co to LuxuryConcepts who was previously Bedat & Co.’s distributors in East Asia.

Of course, in this economy any buying and selling has everyone nervous and looking very closely at any details. However this deal between the luxury watch giants seems to be surrounded by, well, a little bit of drama… Here’s some background:

Simone Bedat and her son Christian start Bedat & Co. in 1996 and immediately found success in the United States. Gucci, seeing their success bought 85% of the company at the end of 2000 and expanded the entire company oversees. Here’s where the drama and mystery begin…. for reasons unknown to anyone, in 2006 Simone and Christian Bedat resigned. Some say it was because they didn’t agree with Gucci’s future plans for their luxury watch company and some say they didn’t think the company was reaching it’s full potential under Gucci’s leadership.

Whatever the reason, the economy had nothing to do with this sell because soon after the mysterious dispute, LuxuryConcepts is suddenly buying Bedat & Co. Common sense leads us to assume that both Gucci and Bedat & Co. wanted out of this relationship. What happened behind doors… who knows? But we don’t think it was too pretty…