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LVMH Buys Stake in Italian Jeweler Repossi
Dec 1, 2015 8:26 AM
By Rapaport News
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RAPAPORT... French luxury retailer LVMH Moët Hennessy Louis Vuitton has
acquired a minority stake in family-run Italian jeweler Repossi for an
undisclosed sum.
The partnership will enable
Repossi to develop its distribution network while benefitting from LVMH’s
managerial know-how, the French group said in a statement November 30.
Repossi, founded in Turin in 1920, is known for its “iconic”
Berber collection and multi-piercing earring. Gaia Repossi, the artistic and
creative director of the jewelry company since 2007, is the fourth generation of
the family running the business. The line is available at about 90 retailers worldwide, including Barneys and Opening Ceremony in the U.S., according to style website Fashionista.
“Repossi’s
success shows a promising future with which we are pleased to be associated,” Delphine Arnault, the executive vice president of
Louis Vuitton and LVMH director, said in the statement.
The acquisition comes four years after LVMH bought Italian
jewelry group Bulgari for about $6 billion in 2011.
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Tags:
italy, luxury, LVMH, LVMH Moët Hennessy Louis Vuitton, M&A, Rapaport News, Repossi, retail
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