Editor’s Note
This acquisition underscores Kering’s strategic push to secure its supply chain for high-end jewelry, enhancing vertical integration for brands like Boucheron and Qeelin.
French luxury group Kering has announced a ‘phased’ acquisition of the Raselli Franco Group, a Swiss manufacturer specializing in high-end jewelry components. This strategic move aims to strengthen Kering’s vertical integration and supply chain control within its jewelry division, which includes major houses like Boucheron, Pomellato, and Qeelin.
The acquisition will be executed in stages, with Kering initially acquiring a majority stake. This approach allows for a smooth integration of Raselli Franco’s expertise in crafting precious metal settings, clasps, and other intricate components essential for fine jewelry. Securing this specialized manufacturing capability is seen as crucial for Kering to enhance the quality, exclusivity, and innovation potential of its jewelry collections while ensuring greater production autonomy.
This transaction reflects a broader trend among luxury conglomerates to invest in and control key upstream suppliers, particularly in the high-margin jewelry and watchmaking sectors. By internalizing a critical part of the value chain, Kering aims to protect its craftsmanship secrets, accelerate product development cycles, and mitigate supply chain risks. The deal is subject to customary regulatory approvals.