Editor’s Note
This article outlines Kering’s strategic, phased acquisition of Italian jeweler Raselli Franco Group, aiming for full ownership by 2032. The initial €115 million investment for a 20% stake underscores the luxury group’s commitment to expanding its jewelry manufacturing capabilities.
On December 18, French luxury group Kering announced that it will acquire Italian jewelry manufacturer Raselli Franco Group in phases, with the goal of achieving full ownership by 2032.
According to Kering’s plan, the first phase of this gradual acquisition will commence in 2026, with an initial purchase of a 20% stake for €115 million. Based on this valuation, Kering values Raselli Franco at approximately €575 million.
This acquisition will enhance Kering’s production capabilities, further elevate its craftsmanship excellence, and support its grand vision in the jewelry sector.
Raselli Franco is currently one of Europe’s largest independent luxury jewelry manufacturers, with partnerships with several leading luxury brands. Over the past decades, Raselli Franco has been a long-term partner of Kering.
Founded in 1969 and still family-run, Raselli Franco is headquartered in Valenza, located between Milan and Turin. It has offices in Paris, the United States, Canada, Mainland China, and Hong Kong, China. The company is internationally recognized for its exceptional expertise and innovative capabilities in jewelry prototyping and production.
Raselli Franco possesses top-tier production facilities and extensive, unique expertise covering the entire value chain—from sourcing raw materials and gemstones to R&D, design, component manufacturing, assembly, and quality control. Its skills in casting and computer numerical control (CNC) machining enable the carving, engraving, and shaping of the most precious materials with extremely high precision. This industry-unique capability is a core advantage for high-end and fine jewelry production.
Kering’s CEO, Luca de Meo, made the above statement.
Kering’s jewelry portfolio includes brands such as Boucheron, Pomellato, DoDo, and Qeelin. These brands are showing strong growth momentum and notable revenue stability, demonstrating robust long-term resilience.
In the first nine months of this year, Kering’s sales decreased by 14% year-on-year to €11 billion. However, in the third quarter, its jewelry brands exhibited “very strong growth momentum, achieving double-digit revenue growth.” Boucheron was highlighted as a growth driver, performing particularly well in the United States and the Asia-Pacific region. Positive evaluations were also noted for the development trends of Pomellato and Qeelin.
