Signaling its strong ambitions in fine and high jewelry, Kering said it will acquire family-owned Italian manufacturer Raselli Franco Group in stages, starting with a 20 percent stake for 115 million euros, slated for completion in the first quarter of 2026.
"The agreement includes a clear pathway to full ownership by 2032," the French luxury group said in a statement Thursday evening.
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Kering 's jewelry houses are Boucheron, Pomellato, Dodo and Qeelin, which "experience strong momentum and significant revenue recurrence that drive long-term resilience," it said.
"By securing critical manufacturing capabilities for our jewelry activity, this partnership will strengthen our value chain and accelerate the growth of our houses," Luca de Meo, chief executive officer of Kering, commented in the release. "Raselli Franco Group brings exceptional savoir-faire and innovation, anchored in a rich heritage and a strong commitment to sustainability. It reflects our unwavering commitment to excellence and our determination to shape the future of jewelry."
Founded in 1969, Raselli Franco Group does jewelry prototyping and end-to-end production.
According to Kering, it boasts state-of-the-art manufacturing sites and handles everything from sourcing raw materials and precious stones to R&D, design, component production, assembly, and quality control.
"Its long-standing commitment to the highest quality, innovation, and traceability standards has made it a strategic partner for Kering over the last decades," the French group said. "This transaction is part of Kering's strategy to support its houses' long-term growth and reinforce control over its value chain."
Andrea Raselli, CEO of Raselli Franco Group, said the Kering deal "will reinforce us and allow us to continue to serve to the best of our abilities the maisons with whom we have been proud to collaborate for so many years."
"We share the same values of excellence, innovation, and agility, as well as the same ambition to contribute to the future of jewelry," Raselli added.
According to its website, Raselli Franco Group employs more than 500 people and produces more than 300,000 pieces annually.
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