digitalinfowave



Cartier owner Richemont is acquiring 100 percent of the Italian jewellery house Vhernier, best known for its foldover Abbraccio ring, from the Traglio family. The terms of the transaction were not disclosed.

Vhernier is small, with annual revenues in the €50-100 million range, according to Bernstein estimates. But Richemont has a history of turning small brands into success stories: Van Cleef & Arpels and Buccellati were both about the same size as Vhernier when Richemont acquired them in 1999 and 2019, respectively.

Learn more:

Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales

Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *