It is located in Marin County, California.
Buccellati Acquired by Chinese Conglomerate
Italian private equity firm Clessidra and the Buccellati family will retain a 15 percent minority stake in the Italian jewelry house.
Milan--Italian private equity firm Clessidra has sold its 85 percent majority stake in Buccellati, the Italian heritage jewelry house, to Chinese conglomerate Gangtai Group.
According to a statement from the Italian firm, Clessidra, along with the Buccellati family, will retain a 15 percent stake in the company.
Clessidra’s Managing Director Marco Carotenuto said, “We are particularly satisfied with the agreement reached with Gangtai Group. We have strongly supported Buccellati in the last three years, achieving a 60 percent growth in revenues since acquisition. We believe that the company is now ready for a new growth cycle that Gangtai Group will support, considering also its experience in the jewelry market and its strong presence in China.”
Buccellati was founded in Milan in 1919, and was entirely family owned until 2013, when Clessidra purchased a 67 percent share of the company, with the Buccellati family retaining 33 percent.
Since then, the jewelry house has expanded its international distribution, opening a new flagship in New York, while strengthening its image, products and management structure.
In 2014, in an effort to connect with millennials, the company named then-25-year-old Lucrezia Buccellati as its first female designer, with her father Andrea Buccellati taking on the role of president, creative director and, later, chairman.
He commented, “Our family founded this company almost 100 years ago and will continue to be fully involved to support its development, the creative mastery and production craftsmanship that enabled the establishment of a unique and recognizable style in jewelry and silverware. We welcome the commitment of Gangtai Group to invest significant resources to further develop the Buccellati brand and platform.”
Andrea Buccellati will remain creative director and honorary chairman of the company, with the rest of the Buccellati family, including Lucrezia, also retaining their roles. CEO Gianluca Brozzetti will also maintain his position.
The deal is subject to Chinese government approval and is expected to go through in the second quarter of 2017.
Gangtai Group is a private conglomerate listed on the Hong Kong Stock Exchange, with a hand in consumer, culture, finance and health industries. Its subsidiary, Gangsu Gangtai Holding Group Co. Ltd., deals mainly in gold and gold jewelry.
EFinancialNews.com reported a source as saying that the deal “valued the company (Buccellati) at 230 million euros,” or roughly $239 million.
The Latest
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.