Editor’s Note
Kering’s phased acquisition of Italian jewelry component manufacturer Raselli Franco Group signals a strategic move to vertically integrate its luxury operations, with full ownership targeted by 2032.
The luxury group Kering announced on Thursday the “phased” acquisition of Raselli Franco Group, an Italian company specializing in the manufacturing of jewelry components, with the ambition of acquiring “100% of the shares by 2032.”
the group specified in a statement.
it added.
said Kering’s CEO Luca de Meo, quoted in the statement.
he added. Kering owns the jewelry brands Boucheron, Pomellato, DoDo, and Qeelin.
Founded in 1969, Raselli Franco Group is internationally recognized for its expertise and innovation capacity in jewelry prototyping and manufacturing, according to Kering. The company, a partner of Kering for several decades, covers the entire value chain, from sourcing raw materials and precious stones to research and development, design, component creation, assembly, and quality control, the luxury group specified.
During the first nine months, Kering reported a 14% decline in revenue to 11 billion euros. However, in the third quarter, the jewelry brands showed “very strong momentum, with double-digit revenue growth,” the group had specified during its results presentation.
