Editor’s Note
Kering makes its first major acquisition under new CEO Luca de Meo, targeting the heart of Italy’s high jewelry manufacturing by purchasing the Raselli Franco Group in Valenza. This strategic move strengthens the French luxury group’s direct access to top-tier craftsmanship and production capacity.
The French luxury conglomerate Kering is setting its course for Valenza. This Piedmontese city in the province of Alessandria is home to the most important international production sites for Haute Joaillerie. There, Kering is acquiring the Raselli Franco Group, one of Europe’s largest independent manufacturers of luxury jewelry. This marks the first acquisition since the appointment of Chief Executive Officer (CEO) Luca de Meo.
Kering has acquired an initial 20 percent stake worth 115 million euros. The stake is to be gradually increased until the complete takeover of the Italian company by 2032.
“A significant step for Kering, creating a major platform for future growth in the jewelry sector,” explained the French group in a statement. The company already owns the jewelry houses Boucheron, Pomellato, Dodo, and Qeelin.
Founded in 1969, the Raselli Franco Group covers the entire value chain with its qualified production sites. This ranges from the sourcing of raw materials and gemstones, through research and development, design, component manufacturing, to assembly and quality control. Mastery of casting techniques and computer numerical control is a unique capability in the industry. It is a fundamental advantage for the production of Haute Joaillerie and fine jewelry, emphasized Kering’s management.
The completion of the transaction is subject to customary conditions and regulatory approvals.