Boucheron Acquires High Jewelry Workshop in Paris
The workshop is comprised of four companies: Blondeau, Belter, Chanson & Cie, and FG Développement.
Paris—Several months after LVMH took a majority stake in Platinum Invest Group, rival Kering has made a move to bolster its manufacturing capabilities.
On Monday, Kering-owned brand Boucheron announced the acquisition of an atelier that specializes in manufacturing high jewelry, all working out of a single facility not far from the brand’s longstanding workshop at 26 Place Vendôme in Paris.
French entrepreneur Cédric Gangemi, a jeweler by training, founded the group, which is comprised of four companies: Blondeau, Belter, Chanson & Cie, and FG Développement.
According to WWD, Gangemi worked at Chanson & Cie (established 1961) and Blondeau (established 1978) before taking them over.
He combined the two workshops under a single roof in 2017, with Belter and FG Développement later joining the atelier.
Boucheron CEO Hélène Poulit-Duquesne called the acquisition of this high jewelry workshop a “new chapter” in the company’s history, bolstering a segment of the business that parent company Kering recently called out as a strong performer in an otherwise subdued quarter.
“[This acquisition] will reinforce the production capacity of Boucheron’s historical workshop on Place Vendôme, enabling us to meet the increasing demand of our clients while maintaining the excellence of our craftsmanship,” Poulit-Duquesne said.
Together, the four companies employ about 60 artisans, a mix of CAD designers, jewelers, lapidaries, stone setters, and polishers.
Financial terms of the deal, which was finalized Oct. 31, were not disclosed, though Boucheron confirmed it will keep all the workshop’s employees, and they will continue to work out of the same location in Paris.
Frédéric Boucheron founded his eponymous jewelry brand in 1858. The Gucci Group acquired the company in 2000, and Kering upped its ownership in Gucci to a majority stake in 2003 and 2004.
Today, Boucheron has more than 50 stores worldwide.
The Latest
Commemorate “brat summer” with these green hoops.
Editor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
Sponsored by Gemological Institute of America
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
A longtime member of IJO, she’s remembered for her passion for design, learning, and environmentalism.
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
The Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
Union Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
Los Angeles-based Bradlei Smith was selected for this year’s award.
In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
The giveaway is part of the New England jeweler’s summer bridal event.
The ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
The grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.
Ghazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
The organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.
Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
The 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
Dance all night long with the “So Move Max” set’s necklace.
Luxury giant LVMH is reshuffling the leadership in its watches division.
Sellers and shoppers have spoken out against a rise in mass-produced merchandise on the platform meant to highlight handmade goods.
The celebrity will star in Swarovski’s holiday campaign.