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Kering to Acquire Stake in Raselli Franco Group
The luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
Kering has signed a deal to acquire a stake in jewelry manufacturer Raselli Franco Group.
Paris—Kering has inked a deal to acquire a stake in Raselli Franco Group, one of the largest independent jewelry manufacturers in Europe.
The luxury giant announced last week that it signed an agreement to acquire an initial 20 percent stake with a pathway to full ownership of the company by 2032.
The acquisition will take place in stages, with the initial stake valued at €115 million ($135 million).
“This acquisition marks a strategic milestone for Kering, embodying our ambition in jewelry,” said Kering CEO Luca de Meo.
“Raselli Franco Group brings exceptional savoir-faire and innovation, anchored in a rich heritage and a strong commitment to sustainability. By securing critical manufacturing capabilities for our jewelry activity, this partnership will strengthen our value chain and accelerate the growth of our houses.”
Kering’s jewelry houses include Boucheron, Pomellato, Dodo, and Qeelin.
The jewelry brands “experience strong momentum and significant revenue recurrence that drive long-term resilience” for Kering, it said.
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The luxury giant announced last week that it signed an agreement to acquire an initial 20 percent stake with a pathway to full ownership of the company by 2032.
The acquisition will take place in stages, with the initial stake valued at €115 million ($135 million).
“This acquisition marks a strategic milestone for Kering, embodying our ambition in jewelry,” said Kering CEO Luca de Meo.
“Raselli Franco Group brings exceptional savoir-faire and innovation, anchored in a rich heritage and a strong commitment to sustainability. By securing critical manufacturing capabilities for our jewelry activity, this partnership will strengthen our value chain and accelerate the growth of our houses.”
Kering’s jewelry houses include Boucheron, Pomellato, Dodo, and Qeelin.
The jewelry brands “experience strong momentum and significant revenue recurrence that drive long-term resilience” for Kering, it said.
Founded in 1969 and headquartered in Valenza, Italy, Raselli Franco Group is known for its skill in jewelry prototyping and production, said Kering. The manufacturer has partnered with Kering for decades.
Its expertise covers the value chain, said Kering, including sourcing raw materials and gemstones, research and development, design, component production, assembly, and quality control.
Kering highlighted the manufacturer’s capabilities in casting and computer numerical control machining, which allows it to carve, engrave, and shape precious materials with precision.
It’s a “one-of-a-kind” capability and is a key asset for high jewelry and fine jewelry production, said Kering.
This acquisition will strengthen its production capabilities, said Kering, and support its “strong ambitions” in the jewelry market.
Andrea Raselli, CEO of Raselli Franco Group, shared his excitement about the deal.
“It will reinforce us and allow us to continue to serve to the best of our abilities the maisons with whom we have been proud to collaborate [with] for so many years,” he said.
“As a family-owned company, we share the same values of excellence, innovation, and agility, as well as the same ambition to contribute to the future of jewelry.”
The completion of the acquisition is subject to customary closing conditions and regulatory approvals.
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