Kering Takes 20% Stake in Raselli Franco Group

Luxury conglomerate Kering has acquired a 20% stake in Italian jewelry maker Raselli Franco Group, with a plan to take over the latter company by 2032.

The initial stake cost 115 million euros (approximately $135 million), Kering said.

Founded in 1969, the Valenza-based Raselli Franco Group has been family-owned since its inception, and is known for its skill in sourcing, casting, research and development, and design.

Kering CEO Luca de Meo said in a statement: “This acquisition marks a strategic milestone for Kering, embodying our ambition in jewelry.”

Kering’s statement said that the three jewelry companies it owns—Boucheron, Pomellato, Dodo, and Qeelin—have “experience[d] strong momentum and significant revenue recurrence that drive long-term resilience.