Editor’s Note
This article reports on Richemont’s full acquisition of the Italian jewelry house Vhernier, a private deal announced on May 7. The financial terms were not disclosed.
In a private transaction, the amount of which has not been disclosed, Richemont announced on Tuesday, May 7, the acquisition of 100% of Vhernier S.p.A. (“Vhernier”), the Italian jewelry Maison.
Richemont is completing its portfolio of jewelry brands (Buccellati, Cartier and Van Cleef & Arpels) with the acquisition on Tuesday, May 7, of the Italian jewelry brand Vhernier, renowned for the modern aesthetic of its jewelry. Founded in Valenza, Italy, in 1984 and based in Milan, Vhernier was bought back by the Traglio family in 2001. Vhernier also operates De Vecchi Milano 1935, an Italian silver interior decoration brand, recognized for its contemporary and timeless design, with which it shares the same passion for design, quality and artisanal craftsmanship “Made in Italy”.
This acquisition strengthens a particularly strong sector for the group, as in the quarter ending December 31, 2023, the Jewelry sector continued to generate the best performance (+12% at constant exchange rates and +6% at real rates).
The transaction will not have a significant financial impact on Richemont’s consolidated net assets or operating result for the fiscal year ending March 31, 2025. Vhernier’s results will be accounted for in the Jewellery Maisons business sector. The completion of the transaction remains subject to certain customary conditions and regulatory approvals.
All jewelry is handmade in Valenza, a city recognized for the excellence of its jewelry production, and is sold through a selective network of monobrand boutiques and prestigious multibrand stores, primarily in Europe and the United States.
Upon the announcement of the acquisition, Richemont’s share remained stable at 132 CHF on the stock exchange.