“This acquisition marks a strategic step for Kering and illustrates our ambition in the jewellery sector”: for his first acquisition at the helm of Kering, Luca de Meo, CEO of the French luxury group since September, has opted for an Italian player. On Thursday, the group announced the “phased” acquisition of Raselli Franco Group, an Italian company specialising in the manufacture of jewellery, with the aim of taking full ownership by 2032.
Kering to gradually increase its stake in the Raselli Franco Group – Raselli Franco
The first stage of this progressive acquisition will take place in 2026, in a transaction that values the company— a long-standing Kering partner based in Valenza, between Milan and Turin, with offices in Paris, the United States, Canada, China and Hong Kong— at around 575 million euros.
“The acquisition will be carried out in several stages, starting with an initial stake of 20% in the first quarter of 2026, for an amount of 115 million euros,” the group said in a statement, stressing that the agreement envisages full ownership by 2032.
“By securing essential production capacity for our jewellery business, this partnership will strengthen our value chain and accelerate the growth of our Houses,” said de Meo in the press release. Kering owns the Boucheron, Pomellato, DoDo and Qeelin jewellery brands.
Founded in 1969, Raselli Franco Group is internationally recognised for its expertise and capacity for innovation in jewellery prototyping and manufacturing, according to Kering.
The company spans the entire value chain, from sourcing raw materials and precious stones to research and development, design, component creation, assembly and quality control, the luxury group said.
In the first nine months of the year, Kering’s sales fell by 14% to 11 billion euros, but in the third quarter, the jewellery brands posted “very solid momentum, with double-digit revenue growth”, the group said when presenting its results. The segment recorded double-digit growth, with Boucheron cited as the growth driver, performing particularly well in the United States and Asia-Pacific. As for Pomellato and Qeelin, commentary was positive on the development of both brands.
With AFP
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