Kering sets out phased takeover plan for Raselli Franco Group

Core Insights - Kering has signed an agreement to acquire a 20% stake in Raselli Franco Group, an Italian luxury jewellery manufacturer, with plans for full ownership by 2032 [1][2] - The initial purchase will occur in Q1 2026 for €115 million ($134.78 million), pending regulatory approvals [1] Group 1: Acquisition Details - The acquisition is part of a staged transaction aimed at enhancing Kering's presence in the jewellery sector [1][2] - Kering's CEO, Luca de Meo, emphasized the strategic importance of this acquisition for the company's ambitions in jewellery and sustainability [2] Group 2: Raselli Franco Group Overview - Established in 1969, Raselli Franco Group specializes in high and fine jewellery production for luxury brands [2][3] - The company manages the entire jewellery production process, including sourcing, design, manufacturing, and quality control [3] Group 3: Strategic Implications - The transaction is intended to support the long-term development of Kering's jewellery brands and enhance oversight of manufacturing processes [4] - Andrea Raselli, CEO of Raselli Franco Group, expressed optimism about the partnership, highlighting its potential to strengthen their collaboration with Kering's luxury houses [4] Group 4: Kering's Business Overview - Kering operates in various sectors, including fashion, leather goods, jewellery, eyewear, and beauty, employing approximately 47,000 people globally [4] - The company reported a revenue of €17.2 billion in 2024 [4]