Kering gets green light for phased acquisition of Raselli Franco Group
The French luxury giant is heading to Valenza, a town in the Piedmont region's province of Alessandria. The area is home to the most important production units for international high jewellery. Kering is acquiring Raselli Franco Group, one of Europe's largest independent producers of luxury jewellery. This marks the first acquisition since the appointment of CEO Luca de Meo.
Kering takes initial 20 percent stake valued at 115 million euros
“This acquisition represents a strategic milestone for Kering, confirming our ambitions in the jewellery sector. Raselli Franco Group brings exceptional savoir-faire and innovation capabilities, complemented by a rich heritage and a strong commitment to sustainability. By securing the necessary production capabilities, this partnership will strengthen our value chain and accelerate the growth of our Maisons. This transaction reflects our unwavering commitment to excellence and our determination to play a leading role in the future of jewellery,” de Meo noted in a statement.
Kering has taken an initial 20 percent stake, valued at 115 million euros, with a progressive increase towards full ownership of the Italian company by 2032.
“An important step for Kering, creating a significant platform for future growth in the jewellery sector,” the French giant explained in a note. The company's portfolio already includes the jewellery Maisons Boucheron, Pomellato, Dodo and Qeelin.
“Kering is pleased to announce the signing of an agreement to acquire Raselli Franco Group. The family-owned company is already a key partner of the Group, renowned for its expertise and excellence in creating both high jewellery and high-end pieces for the biggest luxury brands. The transaction is part of Kering's strategy to support the long-term growth of its Maisons and to strengthen control over its supply chain,” the statement read.
Founded in 1969, Raselli Franco Group has specialised production sites and manages the entire value chain. This includes sourcing raw materials and precious stones; research and development; design; component production; assembly and quality control. Its mastery of both casting and computer numerical control processes is a unique capability in the sector. Kering's management highlighted this as a key asset for producing high and fine jewellery.
The completion of the transaction is subject to the usual conditions and regulatory approvals.
“I am very pleased with this agreement with Kering. It will strengthen us and allow us to continue to best serve the Maisons with whom we have been proud to collaborate for many years. As a family-owned company, we share the same values of excellence, innovation and agility, as well as the same ambition to contribute to the best future for jewellery,” said Andrea Raselli, CEO of Raselli Franco Group.
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