Kering to acquire 20% stake in Raselli Franco
Under the terms of the agreement, Kering will increase its ownership in stages, with a defined pathway to acquiring 100% of the business by 2032
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Kering has agreed to acquire a minority stake in Raselli Franco Group, one of Europe’s largest independent luxury jewellery manufacturers, in a deal that paves the way for full ownership by 2032.
The French luxury group said it will initially acquire a 20% stake in the family-owned Italian business for €115m (£100.5m), with completion expected in the first quarter of 2026, subject to regulatory approvals and customary closing conditions.
Founded in 1969, Raselli Franco Group specialises in the prototyping and production of high jewellery and fine jewellery for leading luxury brands.
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The company operates advanced manufacturing sites and covers the full production process, from sourcing raw materials and precious stones through to design, assembly and quality control.
Kering said Raselli Franco’s expertise in both casting and computer numerical control machining, which allows high-precision carving and engraving of precious materials, would strengthen its control over the jewellery value chain.
The group’s jewellery brands, which include Boucheron, Pomellato, Dodo and Qeelin, have delivered strong and recurring revenues in recent years, and the transaction would support their long-term growth and resilience.
Under the terms of the agreement, Kering will increase its ownership in stages, with a defined pathway to acquiring 100% of the business by 2032.
Kering reported revenue of €17.2bn (£15.04bn) in 2024 and employs about 47,000 people worldwide.
Luca de Meo, chief executive of Kering, said: “This acquisition marks a strategic milestone for Kering, embodying our ambition in jewelry. Raselli Franco Group brings exceptional savoir-faire and innovation, anchored in a rich heritage and a strong commitment to sustainability.”
Andrea Raselli, chief executive of Raselli Franco Group, added: “As a family-owned company, we share the same values of excellence, innovation and agility, as well as the same ambition to contribute to the future of jewellery.”
