02-10-2019
Luxury conglomerate Richemont has recently acquired Italian high jewellery house Buccellati in a private transaction with Gangtai Group, China.
The transaction was closed last Thursday. Johann Rupert, chairman of Richemont, said: “Distinguished by strong heritage, craftsmanship and family spirit, Buccellati is one of the few Maisons in the dynamic branded jewellery market which is complementary to our existing jewellery Maisons, in terms of style, origins and craftsmanship. Buccellati meets the needs of today’s customers who are looking for creative jewellery, with a highly distinctive style.
“We welcome Andrea Buccellati, his family and his team. With them, we share a culture of constant quest for creativity, innovation, quality and excellence. We look forward to ensuring the long-term development of this unique jewellery Maison.”
Andrea Buccellati, honourary chairman and creative director of Buccellati, said: “We are proud to join Richemont, a family-spirited Group and nurturer of prestigious luxury Maisons, with an undisputed expertise in jewellery. We value their long-term strategic thinking and look forward to seeing the potential of Buccellati realised as part of Richemont.”
Buccellati was previously owned by Gangtai Group which acquired 85 percent of the Italian brand in August 2017 in a deal estimated at US$271 million. (Photo courtesy: Buccellati)
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