The French luxury group Kering is heading for Valenza. The Piedmontese city in the province of Alessandria is home to the most important international production centers for high jewelry. There, Kering is taking over the Raselli Franco Group, one of the largest independent manufacturers of luxury jewelry in Europe. It is the first acquisition since Chief Executive Officer (CEO) Luca de Meo took office.
“This acquisition is a strategic move for Kering and confirms our ambitions in the jewelry sector,” said de Meo. “This partnership secures us the necessary production capacity. It will strengthen our value chain and accelerate the growth of our Maisons. This move reflects our unwavering commitment to excellence. It underlines our determination to play a leading role in the future of jewelry.”
Kering has acquired an initial 20 percent stake worth €115 million. By 2032, the stake will be gradually increased until the Italian company is completely taken over.
“An important step for Kering, creating a significant platform for future growth in the jewelry sector,” the French group said in a statement. The company already owns the jewelry houses Boucheron, Pomellato, Dodo and Qeelin.
The Raselli Franco Group, founded in 1969, covers the entire value chain with its qualified production facilities. This ranges from the procurement of raw materials and gemstones to research and development; Design; Component production through to assembly and quality control. Mastering casting processes and computer numerical control is a unique skill in the industry. It is a fundamental advantage for the production of high jewelry and fine jewelry, emphasized Kering management.
Completion of the transaction is subject to customary conditions and regulatory approvals.
“I am very pleased with this agreement with Kering. It will strengthen us and allow us to continue to best serve the Maisons with whom we have proudly worked for many years. As a family business, we share the same values of excellence, innovation and agility. We also have the same ambition to contribute to the best possible future of jewelry,” said Andrea Raselli, CEO of Raselli Franco Group.
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