Founded by the Swiss luxury watchmaker and jeweller Georges Piaget in the village of La Côte-aux-Fées, Piaget is currently a subsidiary of the Swiss Richemont group. The luxury Vendôme group, now Richemont, purchased the Piaget manufacture in 1988. The brand is one of the forerunners in the creation of ultra-thin movements, with the thinnest tourbillon movement in the world: being its Calibre 600P, while the Calibre 560P boasts a retrograde seconds mechanism.