“Synonymous with Italian style, Pomellato and Dodo rank among the most beautiful and innovative jewellery brands in the world. I am delighted that they are joining our portfolio of luxury brands. We have great ambitions for the Pomellato group, which, with access to our expertise and know-how, will be able to step up the pace of its growth and expand its geographic footprint while preserving the values that underpin its Italian identity.”
Kering (Gucci, Bottega Veneta, Saint Laurent, Alexander McQueen, Balenciaga, Sergio Rossi, Stella McCartney) announced today that it has signed an agreement RA.MO S.p.A to acquire a majority stake in the Pomellato group. The transaction is subject to the approval of the competition authorities and is expected to be finalized in the coming weeks. Andrea Morante will remain CEO of the company.
Pomellato, whose 2012 revenues reached €146 million, is one of Europe’s major jewellery groups, with a strong international position. The company’s success is based on the personality and unmistakeable style of its creations unique in their blend of colours, stones and extraordinary shapes as well as their fine craftsmanship.
The Pomellato group is a profitable and growing Italian business with two brands, Pomellato and Dodo, the first positioned within the fine jewellery segment and the latter within the accessible jewellery segment. Its distribution network includes 86 mono-brand stores (45 Pomellato, 41 Dodo) as well as approximately 600 independent points of sale around the world.
With this acquisition, Kering is extending and reinforcing its portfolio of luxury brands in the high growth jewellery market. The Pomellato group enjoys significant growth potential and Kering will support the development and international expansion of its two brands. The group will also benefit from Kering’s expertise and resources in real estate, distribution, media, brand management, etc.
François-Henri Pinault, Chairman and CEO of Kering, commented:
With revenues of €146 million in 2012 and steady growth since 2009, Pomellato ranks 4th in the European jewellery market, and is one of the prime players in the sector at an international level. Thanks to an intensive programme of opening directly operated stores, Pomellato is currently present in the main capital cities of Europe, the Middle East, Asia and the United States.
The company operates 86 Pomellato and Dodo mono-brand boutiques, along with highly selective distribution in approximately 600 jewellery stores. With a lean structure and a headcount of 585 people, the company sustains a rate of growth in keeping with its highly manual production capacity.