Editor’s Note
This article details Kering’s strategic move into the European jewelry manufacturing sector through a phased acquisition of the Raselli Franco Group, highlighting the luxury group’s expansion plans and the transaction’s initial valuation.
Paris—Kering has inked a deal to acquire a stake in Raselli Franco Group, one of the largest independent jewelry manufacturers in Europe. The luxury giant announced last week that it signed an agreement to acquire an initial 20 percent stake with a pathway to full ownership of the company by 2032. The acquisition will take place in stages, with the initial stake valued at €115 million ($135 million).
Kering’s jewelry houses include Boucheron, Pomellato, Dodo, and Qeelin. The jewelry brands “experience strong momentum and significant revenue recurrence that drive long-term resilience” for Kering, it said.
Founded in 1969 and headquartered in Valenza, Italy, Raselli Franco Group is known for its skill in jewelry prototyping and production, said Kering. The manufacturer has partnered with Kering for decades. Its expertise covers the value chain, said Kering, including sourcing raw materials and gemstones, research and development, design, component production, assembly, and quality control. Kering highlighted the manufacturer’s capabilities in casting and computer numerical control machining, which allows it to carve, engrave, and shape precious materials with precision. It’s a “one-of-a-kind” capability and is a key asset for high jewelry and fine jewelry production, said Kering. This acquisition will strengthen its production capabilities, said Kering, and support its “strong ambitions” in the jewelry market.
Andrea Raselli, CEO of Raselli Franco Group, shared his excitement about the deal.
The completion of the acquisition is subject to customary closing conditions and regulatory approvals.