Kering today announced the completion of its initial acquisition of a 20% stake in Raselli Franco Group, one of the largest global independent luxury jewelry manufacturers in Europe, for a total consideration of €115 million.
The new unit would include Boucheron, Pomellato, DoDo, and Qeelin, as well as the group's industrial capacities, including jewelry manufacturer Raselli Franco Group.
Kering will bundle its jewelry operations with brands like Boucheron and Pomellato in a dedicated new division under the leadership of veteran executive Jean-Marc Duplaix, the group said on Monday.