LVMH Acquires Jewelry Manufacturer Pedemonte Group
The strategic acquisition will bolster the luxury titan’s production capacity in its watch and jewelry division.
The company acquired Pedemonte Group, a jewelry producer operating in Italy and France, for an undisclosed amount from the Equinox III SLP SIF investment fund.
“With this strategic acquisition for our maisons, the LVMH Group further strengthens its presence in Italy while continuing to support the ecosystem of companies that contribute to the success of our maisons,” said Toni Belloni, deputy managing director of LVMH.
“With Pedemonte, our maisons will gain a partner recognized for its know-how to support their growth and maintain their leadership in jewelry.”
Pedemonte Group has 350 employees, who will remain with the company, as will its current management team.
The jewelry producer was formed in 2020 after several independent production workshops merged, combining decades of experience.
It has locations in the cities of Valenza and Valmadonna in northern Italy and in Paris.
The manufacturer has worked with LVMH previously.
“We are very pleased to welcome the teams from the Pedemonte Group and its subsidiaries, with whom we have been working for many years. Today our stories and our values come together around this spirit of excellence and enterprise, the perpetuation of craftsmanship and the development of creativity,” said Stéphane Bianchi, chairman and CEO of the Watches and Jewelry Division.
LVMH’s jewelry portfolio includes Bulgari, Chaumet, Repossi, and Fred, as well as the recently acquired Tiffany & Co.
“Joining the LVMH Group is a source of pride and motivation for the entire management team and employees,” said Gian Andrea Garrone, chairman and CEO of Pedemonte Group.
“This operation will allow us to maintain our ambitions in terms of development, training, and strengthening of our human resources, the heart of our activities. We will also pursue an ambitious investment policy to meet new challenges, particularly in technology.”
LVMH-owned brand Bulgari recently announced an expansion of its manufacturing facility in Valenza as well as a high jewelry lab in Rome.
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