Advanced Search

Richemont Acquires Italian Jeweler Buccellati

Oct 2, 2019 8:41 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Swiss-based luxury retailer Richemont has bought high-end jeweler Buccellati from China’s Gangtai Group.

Richemont, which also owns Cartier and Van Cleef & Arpels, closed the purchase of the 100% stake in the Italian jeweler last week. The luxury group reportedly tried to purchase an 85% share in Buccellati in December 2016 from its previous owner, Italian equity firm Clessidra, but lost out to Gangtai.

“Distinguished by strong heritage, craftsmanship and family spirit, Buccellati is one of the few maisons in the dynamic branded jewelry market which is complementary to our existing jewelry maisons, in terms of style, origins and craftsmanship,” Richemont chairman Johann Rupert said last week. “Buccellati meets the needs of today’s customers who are looking for creative jewelry with a highly distinctive style.”

Gangtai chairman Xu Jiangang noted the conglomerate was proud to have introduced the prestigious brand to the greater Chinese market. “We are now honored…that Richemont will continue the journey, ensuring Buccellati’s great success, starting from the celebration of its 100th anniversary,” he continued.

The acquisition will have no material impact on Richemont’s results for the fiscal year ending March 31, the Swiss group added.

Image: A Buccellati store at Place Vendôme in Paris. (Buccellati)
Tags: Buccellati, Cartier, Clessidra, Gangtai Group, Johann Rupert, Rapaport News, Richemont, Van Cleef & Arpels, Xu Jiangang
Similar Articles
Adobe online shopping credit Shutterstock 140US Online Revenues Jump in July
Aug 10, 2022
US e-commerce spending rose in July as Amazon Prime Day drove record online sales, according to Adobe Analytics.Shoppers
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.