Annie Doresca and Michelle Graff welcome Reggie Johnson and Sheryl Jones for a frank conversation on the state of DEI in fine jewelry.
Buccellati Acquisition Completed
Shanghai-based Gangtai now holds an 85 percent stake in the Italian jewelry brand.
Milan--Gangsu Gangtai Holding (Group) Co. Ltd. has completed its acquisition of Buccellati Holding Italia.
In a joint press release sent out Tuesday afternoon, the two companies announced that Gangtai officially has signed on its acquisition of an 85 percent stake in the jewelry brand previously held by Italian private equity firm Clessidra and the Buccellati family.
The transaction is based on an equity value of €230 million ($271.5 million) for 100 percent of the company.
The remaining 15 percent stake will be divided between Clessidra and the Buccellatis, with members of the Buccellati family, including designer Lucrezia and Creative Director and Honorary Chairman Andrea, remaining with the company.
In addition, Gianluca Brozzetti is staying on as CEO.
Gangtai Group said Tuesday that it plans to sink €200 million ($236.1 million) into the Italian heritage brand over the next five years. That money will be used to open 88 new Buccellati stores and make “significant” investments in production and marketing.
Clessidra announced its intention to sell its stake in the Italian jewelry house back in December, but the deal was subject to approval from the Chinese government.
The closing was announced Tuesday at a press conference in Milan, the city where the brand was founded in 1919, with Gangtai Group founder and CEO Xu Jiangang, Andrea Buccellati and Brozzetti on hand.
Gangsu Gangtai Holding (Group) Co. Ltd. is one of China’s largest gold jewelry distributors and an online jewelry retailer. It is a publicly listed company on the Shanghai Stock Exchange and is a subsidiary of privately held conglomerate Gangtai Group.
Artisan Martin Roberts fashioned lunar meteorites into 48 beads to create this out-of-this-world necklace.
Jacob & Co.’s new “Billionaire” timepiece features more than 200 carats of yellow diamonds.
Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.
Heidi Horten, wife of department store magnate Helmut Horten, collected jewelry from Bulgari, Cartier, Harry Winston and Van Cleef & Arpels.
The jewelry industry insurer and solutions provider is celebrating 110 years in business this month.
The statement came as the National Retail Federation released its retail sales forecast for 2023.
De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.
Sotheby’s will auction the diamond, which it says is “arguably the most significant pink diamond to ever appear at auction,” in June.
The retailer, recently acquired by Signet Jewelers, will lay off 119 employees in July.
The Swiss watchmaker introduced 17 new models at Watches & Wonders Geneva.
As part of the promotion, Smith will share his sales expertise during a 90-minute training session.
At Watches & Wonders, the Swiss brand unveiled a follow-up to last year’s Tonda PF GMT Rattrapante.
The “rêve” collection’s engagement rings and wedding bands are geared toward “sustainability minded customers.”
A new word appears on the dial each day of the week.
Bensons Jewelers closed for good Feb. 24, impacted in part by the decline in foot traffic downtown since the onset of the pandemic.
Kolja Kiofsky has been with the crystal and jewelry company since 2010.
The Kruse GWS Auctions sale will include the replica “Taj Mahal” necklace Elizabeth Taylor made with Avon as well as a costume piece Marilyn Monroe wore.
Massimo Basei is moving up, while Chief Commercial Officer Martino Pessina is stepping down.
AGTA GemFair and the Denver Gem & Mineral Show also will have a presence on the show floor.
Sold by Christie’s Hong Kong, this masterwork of complications now holds the record for most expensive watch ever auctioned online.
The watch company expects first-quarter sales to fall as much as 15 percent due to inflation and tough comps.
Adam O’Grady, general manager of the Lightbox Lab, has taken on the new role and will report directly to Lightbox CEO Antoine Borde.
The watch marketplace gathered data from 1.3 million collectors, highlighting the most popular timepieces and exploring value appreciation.
Burgundy has opted not to exercise its option to buy the mining claims Gibb River Diamonds currently owns.
Patented and specialty cuts now can receive an 8X Proprietary Certificate, which can be customized to include a company’s brand and logo.
The organization said it will recognize those who exemplify the idea that doing good is good business.