Kering has completed the first phase of its initial acquisition of a 20% stake in Franco Raselli Group, one of Europe’s leading independent luxury jewelry manufacturers, for a total of €115 million. As announced last December, the agreement provides for a process leading to a full acquisition by 2032.
Creation and development of the Kering Jewelry division
This transaction supports the French luxury conglomerate’s strategy to accelerate the development of Kering Jewelry, a new entity designed to structure and drive the growth of the jewelry business. Under this same banner, the new division will also bring together the houses of Boucheron, Pomellato, Dodo, and Qeelin, thereby fostering their long-term growth while strengthening control over its own value chain. Furthermore, Jean-Marc Duplaix has been appointed to lead this division effective immediately.
The Raselli Franco Group’s historic and international expertise
Founded in 1969 in Valenza, at the heart of the Piedmontese goldsmithing district, Raselli Franco Group is now an international player with offices in six countries. With a workforce of over 500 employees, the group is capable of crafting more than 300,000 pieces and setting more than 4 million stones each year.