Editor’s Note
Kering makes its first major strategic move under new CEO Luca de Meo, acquiring a 20% stake in jewelry manufacturer Raselli Franco Group for €115 million, with a full takeover planned by 2032. This signals a significant push into the high-end jewelry sector.
Kering is taking action in the jewelry sector. The French luxury group has announced the acquisition of a 20% stake in the capital of manufacturer Raselli Franco Group for an amount of 115 million euros, with the ambition of taking over all shares by 2032, according to Les Echos on Thursday, December 18. This marks the first acquisition since Luca de Meo took over as CEO of Kering last September.
This move illustrates the new boss’s desire to diversify the group’s activities, which holds brands such as Boucheron, Pomellato, Dodo, Qeelin, and Gucci, and to reduce its dependence on the latter. According to an internal memo revealed last month, Luca de Meo plans to spend eighteen months reigniting growth for the group’s houses.
Founded in 1969, Raselli Franco Group is recognized worldwide for its “exceptional expertise and capacity for innovation in jewelry prototyping and manufacturing”, states Kering, which has collaborated with the company for several decades.
